Crypto news daily: Bitcoin data and price analysis for August 4, 2022
- Bitcoin is currently trading at $22,881.72, down by 2.13%
- The Bitcoin fear and greed index on August 4, went to the fear level of 30
- Stock-trading platform Robinhood will lay off 23% of its workforce
Bitcoin prices fell over 2% and traded below the $23,000 level on Thursday. However, the broader crypto market did not see much impact from the Solana attacks, which drained wealth out of 8,000 wallets. The digital token is down over 50% so far this year and trading over 70% below its record high of $69,000 it had hit in November 2021.
The global cryptocurrency market cap was at $1.064 trillion, down 1.19% in the last 24 hours. However, the total cryptocurrency 24 hours trading volume is $65.63 billion.
The Bitcoin fear and greed index on Thursday, August 4, 2022, went from the fear level of 34 to the level of 30 as per the alternative. me. The Fear and Greed index is a technique for assessing investors' emotions toward the market.
Bitcoin is currently trading at $22,881.72, down by 2.13%. In the last 24 hours, the highest it touched was $23,578.65 and the lowest was $22,790.66. Bitcoin has a current market cap of $437,352,885,901. It has a circulating supply of 19,111,950.00. BTC coins have a maximum supply of 21,000,000 coins.
Solana Hack: 8000 crypto wallets compromised, millions wiped out
Popular blockchain Solana on August 3 reported that an unknown hacker has drained funds from 7,767 wallets on the Solana Network. The attack has harmer “hot” wallets which are always connected to the internet, allowing people to store and send tokens easily. "Engineers from multiple ecosystems, with the help of several security firms, are investigating drained wallets on Solana. There is no evidence hardware wallets are impacted," said Solana. The reported loss is believed to be around $8 million.
Also Read | Why is Walmart laying off 200 workers?
Robinhood lays off a quarter of staff as crypto contagion spreads
Stock-trading platform Robinhood will lay off 23% of its workforce, the company said. The cuts will largely impact employees in Robinhood’s operations, marketing, and program management departments, CEO Vlad Tenev said in a message to employees that was also posted on the company’s blogs. It is the second round of layoffs for Robinhood in 2022. Previously, the company announced plans in April to lay off 9% of its staff after growing too rapidly during the pandemic amid a boom in stock-trading interest. At the time, Robinhood had around 3,900 employees. The recent cuts are likely to impact more than 800 jobs.