Author: NBTC
Although Bitcoin started July well, it fell to $ 58,500 with subsequent declines. While investors who are already at a loss are wondering about the reasons for the decline and whether it will continue, analysts evaluate that the uncertainty in the US economy, Mt.Gox payments and whales’ BTC sales are behind the decline. At this point, Bit.com Marketing Director Toya Zhang, in his statement to The Block, listed the events necessary for Bitcoin to rise: “While many analysts and experts are predicting a significant increase in July, we believe it is difficult to see a significant increase without the lack…
Fidelity noted that the Ethereum network experienced its highest period of inflation in the second quarter. Layer 2 transactions increased 20% since the Dencun upgrade in March, the report said. Ethereum’s base layer fundamentals declined in the quarter, Fidelity said. The Ethereum blockchain experienced its highest period of inflation in the last quarter with about 110,000 ether (ETH) added to the total supply, equivalent to an annual inflation rate of 0.37%, Fidelity Digital Assets said in a report last week. “While dramatic fluctuations in ether’s supply are unlikely in the short- to medium-term, the growing preference for lower-fee layer 2…
Blockchain startup Chainbase has joined forces with Alibaba Cloud to cut operational costs for its decentralized data distribution efforts. Chainbase, a web3 interaction layer infrastructure for artificial intelligence, has entered into a collaboration with Chinese cloud provider Alibaba Cloud in a bid to halve its operational expenses for decentralized data distribution. We are thrilled to partner with @AlibabaCloud_jp, a global leader in cloud computing and artificial intelligence. @AlibabaCloud_jp offers robust and secure cloud services that complement our goals.By joining forces, we’ve halved operational costs and achieved 100% uptime during… pic.twitter.com/6BpcyhaV99 — Chainbase (✸,✸) (@ChainbaseHQ) July 25, 2024 In an X…
According to recent data provided by Whale Alert, a dormant Bitcoin address containing roughly $2.6 million worth of Bitcoin got activated after more than a decade. This is the second decade-old Bitcoin address that has sprung back to life during this month. On July 2, Whale Alert detected the first activation of a Bitcoin address containing $2.1 million worth of BTC in 13 years. Last month, a Bitcoin miner wallet woke up after 14 years of hibernation to send $3 million worth of BTC to the Binance exchange. These coins were a block reward dating back to July 2010 when…
BlackRock’s Spot Ethereum ETF has commenced pre-market trading early Tuesday, following the SEC’s approval for multiple spot Ethereum ETFs. This development allows mainstream investors to directly invest in Ethereum without managing the digital asset themselves, although functionality for staking and other stake-based derivatives have been removed prior to the approval. In an advertisement video for its Ethereum ETF, BlackRock’s US Head of Thematic and Active ETFs Jay Jacobs said: “While many see Bitcoin’s key appeal in its scarcity many find Ethereum’s appeal in its utility […] you could think of Ethereum as a global platform for applications that run without…
XRP is seeing intense trading activity today. According to data from Whale Alert, more than 26 million XRP tokens were transferred from crypto trading platform Binance to an unknown crypto wallet earlier today. Per the current price levels of the coin, this XRP transfer is estimated to be worth around $16 million. This transaction from the XRP whale has emerged owing to various reasons. For instance, it is likely that the whale has bought these coins and plans to hold them. Notably, crypto whales typically transfer tokens from an exchange to their personal crypto wallet to hold them for the…
The surging popularity of “onchain” as a Google search term signals the rising curiosity about blockchain technology, a trend also amplified by promotional campaigns from players like Coinbase. The search interest score soared from approximately 19 in January 2024 to 100 as of this writing. Google search volume for ‘onchain’ is hitting unprecedented heights https://t.co/7pLJ2XiJLB — The Block (@TheBlock__) July 24, 2024 Available data indicates that the rising interest in “onchain” aligns with record-breaking DEX and CEX trading volume ratios. However, it is worth noting that this heightened interest in blockchain processes seldom translates to increased adoption or improved market…
Cryptocurrency analyst Kevin Svenson is saying that Bitcoin (BTC) could reach its cycle top within the coming months. Svenson tells his 78,600 YouTube subscribers that based on Bitcoin’s post-halving behavior over the previous cycles, BTC could hit its cycle top in roughly six months. “So it’s [2012] halving, 40 to 80 weeks profit zone. [2016] Halving, 40 to 80 weeks. [2020] halving, 40 to 80 weeks. Current halving [which occurred in mid-April], the 40th week lands on January of 2025. And that is also going to be the [US President] inauguration month. So, I mean that it does have historic…
The US Securities and Exchange Commission has issued notices of effectiveness for several Ethereum-related exchange-traded funds (ETFs) as they begin trading today, July 23. Available information on the regulator’s website confirms the effectiveness of the S-1 filing of different issuers, including VanEck, Grayscale, Bitwise, Invesco, and Fidelity, among others. Pre-market trading is already open, with BlackRock’s iShares Ethereum Trust (ETHA) opening at $27.50 before falling slightly to $26.64 as of press time. On July 22, reports emerged that the SEC had given its final approval for the spot Ethereum ETFs to begin trading on July 23. Asset management firm Grayscale…
Recent global IT disruptions, affecting over 8.5 million Windows devices, have spotlighted the need for decentralized storage solutions. The crisis, linked to ongoing issues between Microsoft and CrowdStrike, highlights vulnerabilities in centralized systems, pushing businesses and individuals to explore more secure alternatives. As traditional cloud services face setbacks, decentralized platforms like Siacoin (SC) are increasingly becoming a go-to choice for robust data storage. The latest IT outage underscores the inherent flaws in centralized storage options, such as data manipulation and security breaches. Decentralized storage platforms address these issues by distributing data across a network of independent nodes rather than relying…