LiveWire

Staking means pledging cryptocurrencies to the blockchain to secure the network and earn rewards. Ethereum stakers lock up funds until Ethereum 2.0 comes out, the new version of the Ethereum blockchain. Over 6.73 million ETH are now staked on the blockchain, amounting to a $21.2 billion value. The rising volume of staked ETH signals confidence among Ethereum users in developers’ ability to deliver on the much-anticipated Ethereum 2.0 network update, when the current proof-of-work blockchain of Ethereum "merges" with the proof-of-stake chain. There is not milestone regarding the release of Ethereum 2.0, but some think 2022 might be it. Source: Decrypt

The People's Bank of China's Shenzhen branch wants to "promptly clean up and rectify" 11 enterprises involved in illegal crypto trading. The PBoC's central office is adamant about maintaining "strong pressure" on the crypto trading business. Source: Coindesk

Now that the cryptocurrency market is rebounding, crypto experts are once again making bets on the future price of Bitcoin. Some call for $100,000 before the end of the year, others a $250,000 valuation by the end of 2022 and even $500,000, with no timeframe for such a jump. However exciting that may sound, such valuations would come at a cost. If the most popular cryptocurrency were to ever hit the half million mark, its mining might become so energy hungry that it would be belching 617 million metric tons of carbon a year, exceeding the footprint of Brazil by 40%. Of course, this calculus might be partially healed by increasing the use of renewable energy, but the cost remains high. Source: Fortune, Yahoo Finance

A newly-discovered tool on the dark web lets criminals check how clean their Bitcoin is. The tool, called Antinalysis, was likely built by an administrator of a darknet market to help their merchants launder Bitcoin. After a wallet is linked to Antinalysis, the tool breaks down from where the Bitcoin it holds originates and how risky it is to hold it. This will help criminal to which extent their holdings might be flagged by an exchange. Source: Decrypt

Bitcoin (BTC) is holding support around $42,000 and may encounter resistance near $50,000 as the short-squeeze rally's short-term momentum fades. At press time, the cryptocurrency was trading at roughly $47,400, up 3% in the last 24 hours. Source: Coindesk