Even with Bitcoin’s recent unprecedented surge, the resurgence of ‘Bitcoin millionaire wallets’ or on-chain Bitcoin whales is more gradual than expected. The number of new Bitcoin millionaire wallets created daily has risen to approximately 1,500, in accordance with the digital currency’s ascent to …
Gradual Re-emergence of Bitcoin Millionaire Wallets Despite Record Peaks Read More »
Despite market apprehension, Bitcoin Coinbase Crypto Exchange, a prominent player in the crypto world, anticipates that Genesis’ approved GBTC sell-off won’t shake the crypto market. Genesis, a bankrupted crypto lending company, has received the go-ahead to liquidate approximately $1.3 billion GBTC, causing concern for a potential Bitcoin price drop. However, the bitcoin coinbase crypto exchange asserts that majority of the funds will stay within the crypto ecosystem, thus, mitigating possible e
Bitcoin’s price has recently experienced a hefty surge, crossing the $52,000 mark. This sharp increase reflects a vigorous demand for Bitcoin exchange-traded funds, which, as per CryptoQuant, make up over 75% of fresh Bitcoin investments. Yet, the price analysis cryptocurrency indicates a potential resistance around the $52,000 mark, hinting at an imminently saturated market. While it’s difficult to pinpoint when this surge will climax, history has taught us that every euphoric period in the cry
Price Analysis Cryptocurrency: Bitcoin ETF Demand Soars, But $52,000 Resistance Looms Read More »
The impending fourth Bitcoin halving event has triggered an over 8% increase in Bitcoin mining difficulty, recording a new all-time high. This alteration, which adjusts every 2,016 blocks according to miner count, maintains the block production ratio as more miners join. Despite cryptocurrency restrictions in China and a bear market in 2022 and 2023, the Bitcoin mining difficulty has quadrupled since February 2021, exceeding 81T. This surge indicates the steadfastness of the Bitcoin network, par
Bitcoin Mining Difficulty Skyrockets Ahead of Imminent Halving Event Read More »
In the past few days, an impressive surge has been observed in Bitcoin ETF Inflows, accumulating over $2.2 billion. This amount exceeds the total accumulated during the initial month of trading. This sudden influx is seen by market observers as a major propellant for Bitcoin’s rally, which has driven its price past the $52,000 threshold. Notably, ten spot Bitcoin ETFs have experienced increased interest, drawing in 43,300 Bitcoin within a mere four days. This is significant as it previously took
Bitcoin ETF Inflows Soar, Outdoing Initial Month of Trade Read More »
On February 13, a total of eight Bitcoin ETFs recorded daily inflows of 12,073 BTC, an equivalent of roughly $590 million, with the iShares from BlackRock taking the lead. Concurrently, outflows from Grayscale experienced a decline, slowing to 1,147 BTC or approximately $56 million. The Bitcoin ETFs approval has definitively impacted the market, with brands such as BlackRock’s iShares and Fidelity’s FBTC at the forefront. These entities added 7,497 BTC ($366.5M) and 3,039 BTC ($148.5M) respectiv
Cryptocurrency Investment Revolution: The Impact of Bitcoin ETFs Approval Read More »
Bitcoin’s recent surge to a two-year peak of $50,363 in February had a favorable effect on crypto and mining stocks. Specifically, Bitcoin miners Microstrategy and other cryptocurrency mining stocks saw substantial double-digit gains, somewhat reflecting Bitcoin’s 17.5% increase in value over the same timeframe. Microstrategy, led by founder and chairman Michael Saylor, is known for its endorsement of Bitcoin as a digital gold and a store of value. At present, Microstrategy safeguards a consider
Bitcoin miners Microstrategy Reaps Significant Profits as Bitcoin Value Skyrockets Read More »
The emerging Rabbit Swap cross-chain platform, launched on February 10, 2024, presents an innovative exchange strategy that magnifies the efficacy and advantages of cross-chain swaps for users. Rabbit Swap’s unique strategy revolves around managing a diverse network of liquidity sources, ensuring competitive swap rates and eliminating swap limits. Rabbit Swap addresses the main liquidity challenges faced by most cryptocurrency exchanges by integrating various methods into a single, user-friendly
Rabbit Swap Cross-Chain: Revolutionizing Digital Currency Exchanges Read More »
Bitcoin sales experienced a significant drop in January, particularly the sales of Bitcoin Ordinals, marking a 61% fall to $335 million from December’s peak of $868 million. The data was compiled by CryptoSlam, an NFT data aggregator, also highlighting that Ordinals were the first NFTs minted on the Bitcoin network. The Bitcoin sales decline and the devaluation of Ordinals are being linked to the oversaturated NFT market and new collections emerging from other blockchains. Despite the slump, som
Bitcoin Sales Dwindle: Momentary Lapse or Steady Descent? Read More »
Following a break of a year and a half, Celsius, the cryptocurrency lender, has successfully navigated its way out of Chapter 11 bankruptcy in the US. The company declared on the last day of January that it would start to distribute $3 billion in cryptocurrency and traditional currency to those it owes. In addition, Celsius is set to introduce a new Bitcoin mining company, Ionic Digital, as part of its operations after bankruptcy. Celsius exits bankruptcy and appears to be on a promising path in
Celsius Bounces Back from Bankruptcy, Introduces Bitcoin Mining Enterprise Read More »
A father-son duo, Joseph and Ryan Farace, based in Maryland, have been sanctioned for their participation in a bitcoin money laundering operation connected to illicit drug trade on the dark webThe "dark web" refers to parts of the internet only accessible through encryption software like Tor. The dark web provides high anonymity for users since.... Joseph, the father, at 72 years old, was sentenced to 19 months in federal prison for aiding his son, Ryan, aged 38, in laundering Bitcoin proceeds from unlawful drug transactions. Ryan, a previous offender, was handed a 54-month federal prison term, followed by two years of supervised release, rooted in
Father and Son Convicted in Bitcoin Money Laundering Conspiracy Read More »
Financial colossus JPMorgan predicts a bright horizon for EthereumEther (ETH) is used to pay for computation and token swaps on Ethereum. Users "fuel" smart contracts and DApps with ETH. (ETHEther (ETH) is used to pay for computation and token swaps on Ethereum. Users "fuel" smart contracts and DApps with ETH.) over Bitcoin (BTC) in the forthcoming year, with the keyword ‘EthereumEther (ETH) is used to pay for computation and token swaps on Ethereum. Users "fuel" smart contracts and DApps with ETH. outperform Bitcoin’ underlying their forecast. This outlook is supported by the impending network upgrade for EthereumEther (ETH) is used to pay for computation and token swaps on Ethereum. Users "fuel" smart contracts and DApps with ETH., dubbed ‘Protodanksharding’ or EIP-4844. This upgrade, a precursor to the full deployment of ‘danksharding’, seeks to invigorate Ethereum’s layer 2 networks with heightened transaction bandwidth and reduced fees. Interestingly, this opti
