Author: NBTC
In the volatile world of cryptocurrency trading, patience can sometimes lead to substantial profits. A prime example of this is the recent success story of a crypto whale who made a significant profit from holding onto his investment in PEPE coins despite a market downturn. This investor’s journey offers a glimpse into the potential rewards of strategic investment in the digital asset market. A whale bought 240B $PEPE($3.64M) at a high price on May 29, and the price of $PEPE dropped afterward.But instead of panic selling, he held on for 6 months.Just 30 minutes ago, he sold his 240B $PEPE($4.95M),…
Bitcoin’s (BTC) hashrate, the computational energy needed to mine a block in a proof-of-work blockchain, is on track to reach 1 zettahash per second before the next halving event in about 3.5 years, putting miners under pressure to secure cheap power deals and more efficient equipment. The average hashrate could reach that level, equivalent to 1,000 exahash per second (EH/s), by 2027 even if it rises at the rather sedate pace of 20% a year. It’s grown an average of 65% a year since 2020 and is currently around 787 EH/s on a seven-day moving average basis, according to Glassnode…
This is a segment from the Empire newsletter. To read full editions, subscribe. We’ve talked about the bullish narrative, we’ve talked about the historical possibility of a drawdown, and now, dear readers, let’s talk price targets and analysis. It’s been a while since we spoke to Ledn’s John Glover to get his end-of-year expectations and the levels he’s watching. Glover uses the Elliott Wave Theory, which is a technical analysis that uses previous price movements to predict future movements. Basically, if we’ve carved out the high here at just below $100k (last Friday we saw it go as high as…
Binance’s native token (BNB) jumped to record highs on Wednesday amid a broader crypto market uplift that saw a resurgence in long-time altcoins affiliated with Ethereum and Bitcoin. BNB surged 8% to a new peak above $788, beating out its previous June all-time high of $710, CoinGecko data shows. The asset is used for trading fee discounts, transaction fees on the Binance Smart Chain, staking, participation in token sales, payments, borrowing, and lending. Meanwhile, Ethereum Classic (ETC) and Bitcoin SV (BSV) continue to rise, reaching heights not seen since March and April, respectively. ETC is up 21% on the week…
Cango Inc. now owns 933.8 BTC, showing strong trust in the cryptocurrency. Cango mined 569.9 BTC in December, a 56% increase from November’s output. Cango’s growing mining operations could signal a bullish shift for Bitcoin’s price trends. Bitcoin mining has seen a surge in operations recently, with companies like Cango Inc. making huge strides. The Chinese-based auto trading platform now holds 933.8 BTC, worth around $91 million, showcasing their growing trust in the asset. But what does this mean for Bitcoin’s future price? Cango’s Bitcoin Production Soars in December Cango, once primarily known for automotive financing and car trading has…
Samson Mow, JAN3 boss and a vocal Bitcoin advocate, has doubled down on his earlier forecast of Bitcoin reaching the $1 million price level in the near future. This time, he quoted a famous movie on the topic of financial markets, which describes the event that largely triggered the creation of Bitcoin — “The Big Short.” In the meantime, Bitcoin has lost roughly 6.35% after surging to a new record peak last Friday. So far, it has failed the expectations of the community of seeing it break above $100,000 quickly. “$0.1 million, then $1.0 million” The JAN3 chief executive addressed…
Typical of every New Year, analysts predict different assets in the cryptocurrency ecosystem. Usually, the projections rely on technical analysis, historical precedence and ongoing market dynamics. However, Ethereum (ETH) has received an unusual prediction that anticipates a bullish 2025 for the altcoin. Pectra upgrade: Leap in functionality and efficiency Stani Kulechov, co-founder of Aave, highlighted some key developments to watch out for in the Ethereum blockchain in a post on X. Notably, Kulechov believes the coming Pectra upgrade could enhance price action in 2025. Ethereum will have a great start for 2025.The Pectra upgrade will enable EOAs to function like…
Bitcoin miners should be prepared for a challenging season. The cost of mining will rise a year before the second halving, which will be in 2028. According to reports, Bitcoin’s computing capacity is predicted to expand by around 30% by 2027. Bitcoin’s hashrate, which is the amount of computing power needed to mine a block in a proof-of-work blockchain, is on track to reach 1 zettahash per second before the next BTC halving event in about 3.5 years. This will put miners under a lot of pressure to find cheap power deals and better equipment. Even if it only goes…
Ethereum (ETH) is currently facing downward pressure, with its price facing a potential decline below the $3,000 mark. Apart from the broader market consolidation, ETH’s current price fall is driven by the decrease in activity from its large investors. This analysis explains why the price decline may occur and highlights the price points ETH holders should pay attention to. Ethereum Faces Selloff Pressure as Whale Netflow Drops According to IntoTheBlock, ETH’s large holders’ netflow has plummeted by 73.19% over the past seven days. Large holders are whale addresses that hold more than 0.1% of an asset’s circulating supply. When an…
Marathon Digital Holdings reports December 2024 Bitcoin production and mining metrics, showing continued operational progress. Marathon Digital Holdings reported a 15% increase in its energized hash rate to 53.2 exahashes per second, exceeding its year-end target of 50 EH/s. However, Bitcoin (BTC) production fell slightly, down 2% from November to 890 BTC, which MARA attributed to “luck” variations in mining, per CEO Fred Thiel. MARA’s December 2024 #Bitcoin Production Update is here:– Energized Hash Rate Increased 15% to 53.2 EH/s– 249 Blocks Won (890 BTC), the Second Most Blocks in a Month on Record– MARAPool’s Hash Rate Grew 168% in…