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BTC, ETH and PAXG Price Analysis for October 16, 2023
While the cryptocurrency market remained relatively stable over the weekend, Bitcoin experienced a 4% surge by Monday morning. Here's an in-depth look at the market dynamics of Bitcoin (BTC), Ethereum (ETH), and Pax Gold (PAXG) for Monday, October 16. 
Crypto Market Analysis: BTC, ETH, and PAXG on October 2, 2023
The crypto market experienced a serene weekend with no significant volatility, but by Monday morning, BTC surged by 4%! Here’s an analysis of the market situation for Bitcoin (BTC), Ethereum (ETH), and gold (PAXG) as of Monday, October 2. 
ThorChain's transaction volume has surged to a record $355 million. An influx of hacker activity on the network has led to total transactions topping $1 billion in just five days. Over the past four months, over 50% of the funds swapped from ETH to BTC on ThorSwap have been stolen. 
A recent investigation into ThorSwap, a platform enabling asset transfers across blockchains, raises concerns about its misuse by hackers from North Korea and russia. In the last four months, more than 50% of ETH converted to BTC through ThorSwap has been linked to either previous thefts via exploits or money laundering activities. The study's author highlights that criminal entities often exploit decentralized technologies. However, many developers seem to overlook this issue. Guatemala Uses Bitcoin Blockchain for Presidential Elections
Guatemala has become the world's first nation to utilize the BTC blockchain for presidential election vote tallying. Remarkably, the Bitcoin network was not employed for cryptocurrency transactions; instead, it played a pivotal role in guaranteeing transparency and upholding democratic principles in the voting process. 
"We will compensate users for up to 50% of the stolen assets. Additionally, 'tokenized claims' will be issued, with an intent for Mixin to buy them back from future profits."
Moreover, the BTC.TOP mining pool's CEO is adamant that the bitcoins held within Mixin's protocol shouldn't have gone missing.
He emphasized that Mixin's standard practice was to keep their bitcoins in cold storage, making them impervious to the cloud server breach that compromised their hot wallets. 