Author: NBTC
As the cryptocurrency landscape has continued to evolve, Ethereum now stands at a pivotal crossroads, which stands to shape its future in a big way. While ETH’s price and market cap fell by 10% between July and September, the asset still outperformed Bitcoin by 2%. Moreover, as per Messari’s State of Ethereum in Q3 2023 report, Layer-2 (L2) transactions accounted for two times as many transactions on the mainnet, i.e., nearly 66% of all transactions within the ecosystem. This shift towards L2 solutions has spurred several conversations regarding Ethereum’s scalability, security, and its commitment to decentralization. The ongoing L-2 revolution…
As analysts continue to debate the future of the flagship cryptocurrency, Bitcoin, the network’s hashrate has seen exponential growth, with this key indicator poised to experience an 100% increase (from the beginning of the year) before the year runs out. How Bitcoin’s Hashrate Has Grown The hashrate, which is used to measure the computational power used to mine and process transactions on the network, currently (at the time of writing) stands at 445 exahashes per second (EH/s). This figure represents a significant increase, considering that the network hashrate stood at 255 EH/s on January 1, 2023. Hashrate almost 100% up…
The world’s leading cryptocurrency, Bitcoin (BTC), has seen a significant surge in its price today, reaching $28,004. While several factors have contributed to this jump, here are the primary reasons: #1 SEC’s Non-appeal On Grayscale Spot Bitcoin ETF Late on Friday night, the market became aware of the US Securities and Exchange Commission’s decision not to appeal the verdict which favored Grayscale’s conversion of the Grayscale Bitcoin Trust (GBTC) into a spot ETF. This decision wasn’t perhaps fully priced in on Friday, as Bitcoin’s price rose by a mere 1.2% on Friday ((followed by a fast retracement), in stark contrast…
The Australian federal authorities is about to introduce new rules requiring crypto exchanges to acquire a monetary providers license, the Australian Monetary Overview reported on Oct. 15. Assistant Treasurer Stephen Jones is scheduled to unveil these long-anticipated guidelines throughout the Australian Monetary Overview Crypto Summit. Based on the report, the federal government will give attention to the exchanges — subjecting them to present monetary providers legal guidelines — relatively than regulating particular person tokens or cryptocurrencies. The brand new guidelines Crypto exchanges holding greater than $5 million in mixture or exceeding $1,500 for any particular person person can be mandated…
Ethereum has been in a descending channel against Bitcoin since August of last year, meaning Bitcoin has been the better investment over this time. However, historical trends show the tides could be changing soon, with Ethereum possibly on the brink of entering an accumulation phase. Ethereum Price Action Ethereum is trading at $1600, marking a 22% decrease from its price last August. Bitcoin, on the other hand, is 8% up over the same period. This is a common trend that happens during bear markets. Coins with larger market capitalizations tend to be more resilient against price decreases as investors become…
Bitcoin (BTC) struggled to build on its recent momentum over the past week, reflecting the bearish climate of the general market. However, the latest on-chain revelation suggests that investors continue to show significant faith in the premier cryptocurrency and its prospects. Bitcoin Addresses With 10+ BTC Reach All-Time High: Santiment According to a recent report from the blockchain data tracker Santiment, there has been considerable growth within a particular class of Bitcoin investors. The on-chain analytics platform highlighted that the number of shark and whale addresses holding at least 10 BTC has notably increased since early 2022. The report disclosed…
Following notable changes to the ARK 21Shares Spot Bitcoin ETF application, Bloomberg ETF analysts James Seyffart and Eric Balchunas have predicted that the US Securities and Exchange Commission (SEC) could approve a fund as early as next year. 90% Chance Of Approval In a post shared on his X (formerly Twitter) platform, Seyffart highlighted his team’s prediction of the 90% chance that a Spot Bitcoin ETF will be approved by Ark Invest’s January 10 deadline. January 10 is the day the SEC is expected to make a final decision (approval or denial) on ARK Invest’s Spot Bitcoin ETF application. Their…
What’s CryptoSlate Alpha? A web3 membership designed to empower you with cutting-edge insights and data. Be taught extra › Linked to Alpha Welcome! 👋 You’re linked to CryptoSlate Alpha. To handle your pockets connection, click on the button beneath. Oops…it’s essential to lock a minimal of 20,000 ACS If you do not have sufficient, purchase ACS on the next exchanges: Join by way of Entry Protocol Entry Protocol is a web3 monetization paywall. When customers stake ACS, they’ll entry paywalled content material. Be taught extra › Disclaimer: By selecting to lock your ACS tokens with CryptoSlate, you settle for and…
It’s been quite a bearish week for Bitcoin, as the crypto has fallen around 3% since the beginning of the week. Price action, in particular, has had Bitcoin struggling to break above $27,000, indicating a potential risk of more losses below this resistance level in the near term. However, according to a crypto analyst, this current retracement might be the beginning of a historical Bitcoin cycle before each halving. Analyst Shows Bitcoin Price Correction Based On Historical Trends Crypto analyst Rekt Capital has said in a post that if historical Bitcoin “halving cycles” are any indication, a major price correction…
Bitcoin’s history is filled with stories of people who put small, disposable amounts of money into the crypto and ended up making a fortune. This has been no different from the case of one Norwegian man, whose throwaway $22 Bitcoin investment has turned into a life-changing sum. When Kristoffer Koch had originally invested in Bitcoin back in 2009, the cryptocurrency was only trading for a few cents. Koch, at the time, was intrigued which is why he said he made the purchase. He got 5,000 BTC for around $22 at the time, although this figure often varies. Nevertheless, Koch ended…