Author: NBTC
According to current metrics, older bitcoin mining rigs are not generating the same revenue as they did before the halving, particularly with the hashprice at approximately $0.056 per terahash per second (TH/s) per day. On April 25, Luxor Technologies reported a significant decline in the prices of application-specific integrated circuit (ASIC) bitcoin mining rigs, highlighting that two specific models experienced price reductions ranging from 28% to 35%. The Evolution of Bitcoin Mining: How New Tech is Outpacing Old Over the past week, Bitcoin.com News has reported the hashprice, essentially the projected earnings from 1 terahash per second (TH/s) or 1…
Excitement is brewing in the cryptocurrency community as both Bitcoin (BTC) and Bitcoin Cash (BCH) gear up for their respective halving events. With these highly anticipated milestones on the horizon, investors and enthusiasts are eagerly counting down the days until the reward for mining, along with its inflation rate, is cut in half. Halving events, which occur typically every four years for both Bitcoin and Bitcoin Cash, are programmed into the protocols of these cryptocurrencies as a means of controlling inflation and supply entering the market. By reducing mining rewards by half and then decreasing the rate at which new…
Russia’s central bank and Rosfinmonitoring pilot a new system to trace connections between crypto transactions and fiat operations. The Bank of Russia alongside Rosfinmonitoring, the country’s main body for financial intelligence, is working on a platform to detect connections between fiat operations and crypto transactions amid efforts to evaluate the size of the local crypto market. According to a report from RBC, Ilya Bushmelev, director of project portfolio management at “Innotech,” speaking at a forum organized by Rosfinmonitoring revealed that the platform is currently undergoing pilot testing by five lenders without naming them though. “Based on the results of the…
The developer team of a small-cap altcoin claimed that they received a large investment from an established venture capital firm. The developers of the Ethereum-based cryptocurrency called Juicebox (JBX) claimed to have completed a $69 million investment round led by Paradigm. Following the development, hundreds of cryptocurrency followers who believed in this announcement bought the JBX token, causing the price to suddenly rise. The price of the altcoin, which was at $0.0032 before the announcement, climbed to $0.0043 with the fake announcement. Daily chart showing the rise and fall of the JBX price. However, about an hour later, a new…
Bitcoin (BTC) is at the center of the financial markets after breaking its all-time high in a week to surpass the $70,000 mark in the latest rally. In this line, the focus is on where Bitcoin will land next, considering that the record high has deviated from the past norms of emerging after the halving event. In looking at the next Bitcoin trajectory, crypto trading expert TradingShot projected in a TradingView post on March 8 that the next narrative for Bitcoin will likely target over $300,000. The analyst presented the ‘Cycle of Narrative Destruction,’ highlighting how historical patterns will likely…
The pop superstar Justin Bieber, has notably dabbled in the world of digital collectible, investing more than $2 million in non-fungible tokens (NFTs) back in 2022. The value of his NFT holdings is now worth barely over $100,000 after plummeting by a staggering 94.7%. According to data from on-chain cryptocurrency analysis firm Arkham Intelligence, Bieber invested heavily in NFTs after his cryptocurrency wallet received over $2.34 million worth of the second-largest cryptocurrency by market capitalization Ethereum ($ETH) that were used to buy 2 NFTs from the Bored Apes Yacht Club (BAYC) collection and 2 NFTs from the Mutant Apes Yacht…
Base, the Ethereum layer-2 scaling network incubated by crypto exchange Coinbase, hit a daily record of $1.22 billion worth of trading volume at decentralized exchanges (DEXs) on Saturday. The frenzied surge in trading is due to a gold rush for meme coins that has Base-native coins like DEGEN and BRETT hitting over half a billion dollars each in market cap. The network set a record for unique daily wallets interacting with a DEX on Saturday with 172,000, according to public blockchain data curated by Dune, and nearly matched that total again on Sunday. Decentralized exchange (DEX) volume on Base has…
A U.S. district judge sentenced Jabara Igbara to seven years in prison. He purported to be a crypto millionaire and targeted Muslims through a company called Halal-Capital LLC. Jabara Igbara, also known as “Jay Mazini,” who claimed to be a crypto millionaire on Instagram, was sentenced by U.S. District Judge Frederic Block to seven years in prison on wire fraud and money laundering charges. The sentence also requires Igbara to forfeit $10 million. Igbara, 28, carried out multiple fraud schemes and scammed investors of at least $8 million, the United States Attorney’s Office said on Wednesday. He pleaded guilty to…
Bitcoin (BTC), the leading cryptocurrency by market capitalization, reached a new all-time high of more than $70,000 on Friday, capping a seven-week rally of more than 70% and exceeding its previous milestone of $69,000 established in November 2021. The breakthrough has triggered a bullish outlook from several analysts, who expect Bitcoin to continue its upward trajectory and reach even higher levels shortly. Tuur Demeester, a long-time Bitcoin analyst, believes that the cryptocurrency is poised for an epic bull market, citing lower supply and aggressive dip buying. I think we’re gearing up for an epic bull market in bitcoin. Just like…
A dormant cryptocurrency whale known by the short address 0x3c1 deposited 1.94 million Render (RNDR) tokens, equivalent to $19.8 million, to Coinbase. This move came after a 10-month period of inactivity. Whale had previously withdrawn these RNDR tokens from Coinbase at an average price of $2.39, and the tokens cost an estimated total of $4.63 million between June 3-27, 2023. If Whale actually sold now, they would have made an estimated profit of $15.15 million, an increase of 327% on their initial investment in RNDR. As of now, the whale no longer holds any RNDR tokens. In another development, a…