Author: NBTC

BIT Mining, a cryptocurrency mining firm listed on the New York Stock Exchange, has announced steps to expand its mining operations with new acquisitions in Ethiopia. The company revealed on Dec. 9 that it had completed the first phase of its plan to acquire data centers and Bitcoin (BTC) mining equipment in Ethiopia. In its initial announcement, BIT Mining said it planned to acquire up to $14.2 million worth of data centers and BTC mining machines. The deal will see the miner get an additional 51-megawatt in data centers as well as 17,869 Bitcoin mining machines. The first phase of…

In a noteworthy development, shares of business intelligence company MicroStrategy (MSTR) continue to rise in relation to the price of Bitcoin (BTC), bringing the premium to the value of its BTC holdings to its highest level in over three years. Notably, since the launch of Bitcoin ETFs in January, MicroStrategy stock has increased by more than 240%, setting a new record high Oct. 8. That’s around eight times higher than Bitcoin’s performance, which has fallen by 16% since setting its record high of nearly $74,000 in mid-March. This development, as Bitcoin lags behind MicroStrategy’s performance, has caught the attention of…

eToro, a trading platform for stocks and cryptocurrencies, is working with Goldman Sachs to plan an initial US public offering. The company could go public as early as the second quarter of 2025, but the timing may change, according to unnamed sources familiar with the matter, Bloomberg reports. eToro hopes to exceed the $3.5 billion valuation it achieved during a private funding round last year. Details about the IPO, including other banks that may be involved, remain under discussion. You might also like: US Bitcoin ETFs surpass Satoshi’s slumbering stack SEC vs. eToro The platform faced regulatory issues in the…

Famous American businessman and owner of microblogging platform X Elon Musk directly mentions XRP for the first time. Musk mentioned the seventh-biggest cryptocurrency by market cap in a viral video making rounds on Crypto Twitter. In the video, the owner of X was asked to comment on whether he thinks XRP could be integrated into the global financial system in the future, particularly in light of the SEC’s punitive nature toward cryptos. Elon Musk Talks About XRP.pic.twitter.com/FFhvsF6PP7 — TheCryptoBasic (@thecryptobasic) October 21, 2024 Responding, Musk expressed a general opinion about the role of cryptocurrencies, including XRP, emphasizing that they serve…

The price of Bitcoin (BTC) has held on to the psychological $60,000 mark despite the drop on October 10. Long-term forecast for the BTC price: bullish On October 10, Bitcoin fell to a low of $58,943, but the bulls bought the dips. The largest cryptocurrency rallied above the moving average lines but was halted by the 21-day SMA resistance. If the bulls break through the 21-day SMA resistance, Bitcoin will rally to the next resistance at $65,000. The bullish momentum will now continue to the high of $70,000. Bitcoin is trading at $62,641, above the 50-day SMA support but below…

Real-time financial data specialist, Truflation has launched the India Inflation Tracker which provides updated information regarding inflation in a clear and impartial manner. This tool offers live data on the Indian consumer price index (CPI), which citizens or businesses can use to plan their financial activities accordingly. Moreover, Truflation integrated with Levitate Labs, the Indian Web3 accelerator, as their implementation partner. This collaboration ensures that correct and detailed inflation data is provided. The platform provides daily data updates using decentralized technology: they meet the need for accurate information regarding late consumer price volatility. The tracker incorporates millions of data points…

The XRP Ledger has logged a substantial increase in active wallets, according to analytics platform Santiment. In fact, the number of unique active wallets with at least one transaction per day has spiked to the highest level in three months, reaching 35,799 unique wallets. Notably, the XRP Ledger has also recorded the biggest number of newly created wallet within a single day since March 14. It is not immediately clear why the network is suddenly seeing a substantial uptick in activity. That said, the XRP cryptocurrency recently appeared in the spotlight due to the SEC’s appeal in the Ripple case.…

Bitcoin (BTC) has had a bumpy start to October, with the much-anticipated “Uptober” rally getting off to a slow beginning. However, despite this sluggish start, an analyst sees two major peaks on the horizon, suggesting that Bitcoin’s long-term bullish trajectory remains intact. After briefly dipping below $60,000, Bitcoin rebounded sharply, reclaiming $63,000. This recovery, coupled with promising technical indicators and macroeconomic factors, signals that bulls are still in control, especially with the release of China’s fiscal policy update. Bitcoin is now approaching key price levels, and market momentum is likely to shift based on technical factors and historical patterns. As…

MicroStrategy stock price has dropped 27% from its highest level this year, despite Bitcoin reaching a record high. MSTR shares were trading at $390 on Dec. 6, continuing a decline that began on Nov. 21, when the stock peaked at $541. Even with this pullback, MicroStrategy remains one of the best-performing stocks this year, up over 500%, with a market cap exceeding $91 billion. It is also the top gainer in the Russell 2000 index. There are two possible reasons why the stock has retreated this month. First, this decline is because of profit-taking among investors who have benefited from…

At the recent Polkadot Fellowship meeting, Dr. Gavin Wood, creator of Polkadot and Kusama, revealed significant advancements in the Join-Accumulate Machine (JAM). Version 0.4 of the JAM gray paper now includes “Ordered Accumulation,” a critical update and the final core protocol enhancement before the v1.0 release. According to Polkadot’s official statement, JAM is “a prospective design to succeed the relay chain.” The platform explained that the name originates from CoreJAM, which stands for Collect Refine Join Accumulate. Initially outlined in an RFC by Gavin Wood, CoreJAM details the computation model the machine embodies. JAM aims to revolutionize decentralized computing by…