Decentral Block Post

Decentralized oracle network Chainlink has downplayed a recent change in the number of signers required on its multisig wallet — a move that garnered backlash on social media from vocal critics.

Crypto researcher Chris Blec was among a number of users on X (formerly known as Twitter) who called out Chainlink for quietly reducing the number of signatures required on its multi-signature wallet from 4-of-9 to 4-of-8.

The 4-of-8 multisig requirement is a security measure that requires four out of eight signatures to authorize a transaction.

In a Sept. 25 X post, Blec drew attention to an original post from a pseudonymous user which showed that a wallet address had been removed from the multisig wallet without any announcement being made by Chainlink.

While members of the crypto community were quick to raise their concerns with the move, a spokesperson for Chainlink told Cointelegraph that the update was part of a standard signer rotation process.

South Korea cryptocurrency exchange Upbit has resumed Aptos (APT) deposits and withdrawals again after fixing an issue that saw a scam APT token incorrectly recognized as the real deal.

On Sept. 24, Upbit abruptly halted Aptos token services after noting an “abnormal deposit attempt,” prompting an inspection of the wallet system.

The problem appears to have originated from a newly created fake APT token called “ClaimAPTGift.com” which had made its way to 400,000 Aptos wallets after its creation on Sept. 21.

The fake token was likely part of a typical token airdrop scam, in which users are airdropped tokens that contain links pointing unsuspecting users to phishing websites.

However, a reported failure by Upbit to properly verify the source code of the scam tokens led to the exchange recognizing the fake tokens as real Aptos tokens, allowing users to deposit them on Upbit and sell them for Aptos' market price, according to X user Definalist.

Bitcoin (BTC) has been trading in a tight range for the past three days even as the S&P 500 fell for the last four days of the week. This is a positive sign as it shows that cryptocurrency traders are not panicking and rushing to the exit. 

Bitcoin’s supply seems to be gradually shifting to stronger hands. Analyst CryptoCon said citing Glassnode data that Bitcoin’s short-term holders (STHs), investors who have held their coins for 155 days or less, hold the least amount of Bitcoin supply in more than a decade.

In the short term, the uncertainty regarding Bitcoin’s next directional move may have kept traders at bay. That could be one of the reasons for the subdued price action in several large altcoins. But it is not all negative across the board. Several altcoins are showing signs of a recovery in the near term.

Could Bitcoin shake out its slumber and start a bullish move in the near term? Can that act as a catalyst for an altcoin rally? Let’s study the charts of the top-five cryptocurrencies that may lead the charge higher.

Bitcoin price analysis

The bulls have managed to sustain the price above the 20-day exponential moving average ($26,523) but they have failed to start a strong rebound. This indicates a lack of demand at higher levels.