Bitcoin Set To Gain Over $300 Billion From Companies In Next 5 Years, Analysts Say

Bitcoin Core developers plan to remove the long-standing 80-byte size limit on OP_RETURN outputs in an upcoming software release, a move that has sparked disagreement within the development community.

OP_RETURN allows small amounts of data to be embedded into Bitcoin transactions with an unspendable output (UXTO). The concept grew in popularity during the early 2024 ordinals and inscription boom.

According to Bitcoin Core contributor Greg Sanders, the update would completely eliminate the current 80-byte limit and “allow any number of these outputs." In a May 5 GitHub post, Sanders said that the restriction had outlasted its purpose and lifting the cap would encourage less harmful onchain behavior.

“The cap merely channels them into more opaque forms that cause damage to the network,” Sanders wrote, referring to large-data inscriptions and other participants that bypass the 80-byte threshold. “When the polite avenue is blocked, determined users turn to impolite ones. Some use bare multisig or craft fake output public keys that do enter the UTXO set, exactly the outcome OP_RETURN was invented to avoid."

Developers considered three options: keep the cap, raise it, or remove it entirely. The first two were deemed arbitrary and ineffective, while the third option garnered broad — though not unanimous — support, according to the GitHub discussion.

Sanders argued that lifting the cap would help maintain a cleaner UTXO set, reduce transaction burdens, and reaffirm simple, transparent rules within Bitcoin’s protocol.

Not everyone agrees. Critics including JAN3 CEO Samson Mow called the removal an “undesirable change for a number of reasons.” Marty Bent, managing partner at Ten31 Fund, noted on X that the proposal lacks broad consensus. Some community members worry the change could incentivize spam on the Bitcoin network, while others surmised that removing the 80-byte limit was performative and seemingly coercive.

The debate continues across GitHub and social media. Bitcoin Core developers have not set a release date for the proposed update.

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Shiba Inu on-chain activity has shot up, and the numbers are too big to ignore, as represented by IntoTheBlock. In just one day, the total transaction volume for SHIB jumped from 1.8 trillion tokens, equal to $22.84 million, to a whopping 7.37 trillion SHIB, which was worth around $93.56 million.

While the price of SHIB did not change much during that same time - it was mostly around $0.000013 - the increase in volume was what got real attention. 

If you look at the big picture, this move really stands out compared to the previous week, when the average daily volume was about 2.78 trillion SHIB, which is just over $36 million. 

That makes this recent activity more than double the weekly average, and well above the seven-day low recorded on May 1, when volume dipped to 1.09 trillion SHIB, worth just $14.69 million.IntoTheBlock">

Even though the number of transactions went up a great deal, the number of transactions per user did not increase as much. 

On May 5, the on-chain count hit 3,940 transactions. Thus, it looks like the surge was not driven by retail traders making lots of small moves. It is more likely that there were fewer but much larger transactions. These were probably tied to whales, internal transfers or pre-structured capital shifts.

It is unclear if this spike is a sign of bigger price movements or just large holders shifting their funds around. Either way, the sudden jump in volume has put Shiba Inu back on the map for those keeping an eye on the early signs in the altcoin market.

Key Takeaways:

• The Bitcoin Risk-Off signal dropped to 23.7, its lowest since March 2019, indicating low correction risk and a high likelihood of a bullish trend developing.

• Despite the recent decline in network activity, bullish macro indicators like the Macro Chain Index (MCI) suggest Bitcoin could soon rally above $100,000.

On May 5, the Bitcoin Risk-Off signal, an indicator that uses onchain and exchange data to assess correction risk, dropped to its lowest level (23.7) for the first time since March 27, 2019, when Bitcoin (BTC) traded at $4,000. The signal is currently in the blue zone, which historically suggests low correction risk and a high probability of a bullish trend. When the oscillator rises above 60 or turns red, it implies a high risk of bearish movement.

The rates of the majority of the coins keep falling, according to CoinStats.CoinStats">

The price of SHIB has dropped by 1.41% over the last day.TradingView">

On the hourly chart, the rate of SHIB has bounced off the local support of $0.00001233. 

If bulls can hold the gained initiative, there is a chance to witness a test of the resistance by tomorrow.TradingView">

On the bigger time frame, there are no reversal signals yet. If the daily candle closes near its low, the drop may continue to the nearest support of $0.00001212 by the end of the week.TradingView">

On the weekly chart, the price of SHIB is falling after the previous bearish closure. If nothing changes, traders may expect a test of the $0.00001050-$0.00001150 range soon.

SHIB is trading at $0.00001244 at press time.

The market remains mainly under sellers' influence, according to CoinMarketCap. CoinMarketCap">

The price of DOGE has declined by 2.06% over the last day.TradingView">

On the hourly chart, the rate of DOGE has made a false breakout of the local support of $0.1645. 

If the daily bar closes far from that mark, one can expect a test of $0.17 by tomorrow.TradingView">

A bearish picture can also be seen on the bigger time frame. If the daily bar closes below the $0.1667 level and with no long wick, the correction is likely to continue to the $0.16 area.TradingView">

From the midterm point of view, bulls have failed to fix above the $0.18 zone again. If the buyers cannot seize the initiative soon, one can expect a test of the $0.15 range.

DOGE is trading at $0.1669 at press time.

For months, Cointelegraph took part in an investigation centered around a suspected North Korean operative that uncovered a cluster of threat actors attempting to score freelancing gigs in the cryptocurrency industry.

The investigation was led by Heiner Garcia, a cyber threat intelligence expert at Telefónica and a blockchain security researcher. Garcia uncovered how North Korean operatives secured freelance work online even without using a VPN.

Garcia’s analysis linked the applicant to a network of GitHub accounts and fake Japanese identities believed to be associated with North Korean operations. In February, Garcia invited Cointelegraph to take part in a dummy job interview he had set up with a suspected Democratic People’s Republic of Korea (DPRK) operative who called himself “Motoki.”

Ultimately, Motoki accidentally exposed links to a cluster of North Korean threat actors, then rage-quit the call.

Here’s what happened.

Suspected North Korean crypto spy posed as a Japanese developer

Garcia first encountered Motoki on GitHub in late January while investigating a cluster linked to a suspected DPRK threat actor known as “bestselection18.” This account is widely believed to be operated by an experienced DPRK IT infiltrator. It was part of a broader group of suspected operatives who had infiltrated the crypto gig economy through freelancing platforms such as OnlyDust.

Most North Korean state actors don’t use a human face photo in their accounts, so Motoki’s profile, which had one, hooked Garcia’s attention.

“I went straight to the point and just wrote to him on Telegram,” Garcia told Cointelegraph, explaining how he created an alter ego as a headhunter for a company looking for talent. “It was pretty easy. I didn’t even say the company name.”

On Feb. 24, Garcia invited Cointelegraph’s South Korean reporter to join an upcoming interview for his fake company — with the hope of speaking to the suspected DPRK operative in Korean by the end of the call.

We were intrigued; if we could meet with an operative, we had the opportunity to learn just how effective these tactics were and, hopefully, how they can be counteracted.

On Feb. 25, Garcia and Cointelegraph met Motoki. We kept webcams off, but Motoki did not. During the interview, conducted in English, Motoki often repeated the same responses for different questions, turning the job interview into an awkward and stilted conversation.

Motoki displayed questionable behavior inconsistent with that of a legitimate Japanese developer. For one, he couldn’t speak the language.

We asked Motoki to introduce himself in Japanese. The screenlight reflecting off his face suggested he was frantically searching through tabs and windows to find a script to help him answer.

There was a long, tense silence.

“Jiko shōkai o onegaishimasu,” Cointelegraph repeated the request, this time in Japanese.

Motoki frowned, threw off his headset, and left the interview.