Author: NBTC
The total hashrate of the U.S.-listed bitcoin (BTC) miners tracked by JPMorgan (JPM) has almost doubled from a year ago and now accounts for about 29% of the global network, the bank said in a report on Tuesday. The combined hashrate of the 14 companies “has increased ~95% y/y to 244 EH/s, versus a 45% increase in the network hashrate,” analysts Reginald Smith and Charles Pearce wrote. The network hashrate is a proxy for competition in the industry and mining difficulty. The Bitcoin network hashrate has risen about 6% so far this month, and has climbed 45% in the last…
Yuxing Bitcoin purchase shows growing confidence in crypto as Hong Kong explores adding Bitcoin to financial reserves for stability. Hong Kong enhances crypto infrastructure with new index, licensing exchanges, as Bitcoin becomes a key asset in global finance. Yuxing Technology, a publicly listed company in Hong Kong, has made significant moves in the cryptocurrency market. Between July 25 and December 31, 2024, the company purchased 78.2 Bitcoin at an average price of $80,960 per unit, totaling $6.3 million. In order to fund this purchase, Yuxing has to sell 6.3 million USDT at an average price of $1 per unit. The…
World of Women (WoW) has teamed up with artist Sara Baumann for a powerful new NFT portrait series that highlights four leading women in Web3 as iconic Western pioneers. This initiative, launching on the Etherlink – Tezos blockchain L2, is aimed at elevating women who are reshaping the decentralized technology landscape.—Reimagining Women as Pioneers of ChangeThe series captures the strength and vision of Web3 leaders like Jill Gunter (Espresso Systems), Winny.eth (Chipped), Evin McMullen (Privado ID), and Tina He (Base). These portraits not only celebrate their achievements but also underscore the often-overlooked role of women in tech. As Sara Baumann…
Toncoin (TON) has witnessed increased activity in the past 24 hours, with a total of 1.55 billion coin whale transactions recorded among market participants. The value of these transactions equals about $8.86 billion. Whale activity fuels Toncoin transaction volume According to IntoTheBlock data, these transactions are worth over $100,000. These come in at a count of 1,740 in the last 24 hours. This spike in transaction volume comes amid ongoing bullish sentiment for TON. Investors have reignited interest in the asset as the price maintains an appreciable gain on the market. As of this writing, TON is exchanging hands at…
Economic research firm Perryman Group has revealed that Bitcoin mining has contributed more than $4 billion to the US gross domestic product (GDP) in 2024. The firm disclosed this in its new report, noting that it created 31,000 jobs. The report, which was commissioned by crypto industry advocacy groups, the Digital Chamber of Commerce, and the Texas Blockchain Council, dispels some myths about the Bitcoin mining industry and shows how it benefits the economy. While most mainstream reports on Bitcoin mining have focused on its environmental impact, the new report casts the industry in a new light as a direct…
In a recent discussion Anthony Scaramucci, the founder of SkyBridge Capital, was asked about the possibility of a “strategic Bitcoin Reserve” for the United States. Scaramucci didn’t shy away from the question, expressing confidence that it could become a reality. When asked about the feasibility of such a move, Scaramucci laid out his case on the Bankless podcast. He explained that he’s personally close to key political figures who support this initiative. According to Scaramucci, the Senate already has the votes to make this happen and this support is crucial because it indicates bipartisan backing for the proposal. While many…
Since its peak in November, Bitcoin’s trading volume has drastically decreased with current volume levels falling by about 97%. Bitcoin has seen a slight increase in price, moving closer to the $96,000 mark in spite of this steep drop. This paradox draws attention to the special dynamics at work in the contemporary market. Reduced liquidity is usually indicated by low trading volume, which implies a lack of participation from institutional and retail investors. Although there may occasionally be erratic price swings as a result, the calm market activity has made it easier for Bitcoin’s price to rise. Therefore, the modest…
Sanctum plans to launch staking for its governance token, CLOUD, later this month, according to an official announcement. The Solana (SOL) ecosystem liquid staking token protocol announced the upcoming support for CLOUD staking on via X, noting that the crypto service will go live this month. Sanctum has grown to become one of Solana’s biggest protocols, gaining popularity as investors farmed its tokens. The platform launched its governance token, CLOUD, in July 2024, with a total supply of 1 billion tokens. You might also like: 4 crypto startups earn MiCA licenses from Dutch watchdog Sanctum powers Solana’s liquid staking ecosystem…
A widely followed analyst is warning of a possible Bitcoin (BTC) correction in early 2025 as the flagship crypto asset enters its first post-halving year. In a new video update, crypto strategist Benjamin Cowen tells his 853,000 YouTube subscribers that Bitcoin may correct by double-digit percentage points in January based on historic precedence. “At least in the last two [post-halving years], there has been a correction in January. Now what’s interesting is this time we’ve already kind of had a correction in December, but if you look at what happened in 2021, there was a correction in January, about a…
In a significant move within the cryptocurrency market, a whale made waves by depositing 19,001 AAVE tokens, worth $6.5 million at a price of $342.067 each, into Binance just seven hours ago. This transaction has already secured the whale a realized profit of $4.93 million, marking an impressive 314.36% gain. This recent deposit is part of a larger, strategic series of movements that showcase both the profitability and the complex nature of crypto whale activities. A whale deposited 19,001 $AAVE ($6.5M) to #Binance at $342, allegedly securing a $4.93M profit 7 hours ago.On Jun 23, 2024, this whale withdrew 89,109…