Author: NBTC
Electricity shortages have caused problems for many economies, limiting Russia’s AI ambitions, although the country has cut on the energy-consuming crypto mining in some areas. Crypto mining activities and AI data centers are reportedly consuming huge amounts of energy as well as water to cool servers. This also comes as many countries fail to sustain their power needs, especially in the 2020s, causing problems politically, socially, and economically. This has reduced their zeal for economic growth and international trade expansion. AI pushes the creative industry in Russia although power situation is dire As part of initiatives to further the AI…
According to the World Bank, 1.4 billion adults around the world remain unbanked. The global financial system, despite its unbelievably vast infrastructure, falls short of serving the global population equitably on many counts. For many, the glittering promise of financial freedom is not merely a matter of surviving the rat race but also a tale of inflation and documentation. Bitcoin-Backed Credit: A Lifeline for the Unbanked Globally Millions of people remain underbanked or entirely unbanked due to strict credit requirements, high fees, and limited accessibility. From Palestinian refugees with no proof of citizenship, single women with no employment contract in…
IOTA could soon be used as collateral for stablecoin as a different network is reported to be on the verge of staging a “friendly fork” on the decentralized distributed ledger. A report explains that this initiative could greatly increase the total value locked by IOTA and make transactions safer within the decentralized finance environment. Co-founder of IOTA Dominik Schiener recently made an interesting announcement, hinting that another network would have a friendly fork on IOTA to subject the network to significant transformation and expand its use cases. Times are changing very soon.🌐✌#IOTA pic.twitter.com/ikgjHa1Vgu— OTTI #IOTA 2.0 🌐 (@OTTI28518618) October 28,…
Bitcoin’s (BTC) price volatility can offer both long and short opportunities for traders speculating on different time frames. However, an analyst navigated through the BTC price chart, explaining why shorting Bitcoin is not a good idea right now. In a video uploaded on October 18, CrypNuevo first analyzed Bitcoin in a high (HTF) and low (LTF) time frame. While the LTF is more volatile and could offer some short opportunities for day traders and scalpers, he suggested swing traders avoid opening shorts, as indicators suggest BTC will continue going up. The analyst also looked at the Bitcoin Dominance Index (BTC.D),…
The key figure behind Russia’s central bank digital currency initiative has resigned from the central bank, ending her leadership role in the country’s digital currency initiative. A key mastermind behind Russia‘s central bank digital currency — also known as the digital ruble — and the country’s domestic digital payments infrastructure known, Olga Skorobogatova, has stepped down from her post as first deputy governor of the Bank of Russia, the regulator announced in a press release. While the reasons behind Skorobogatova’s resignation remain unclear, Elvira Nabiullina, head of the central bank, praised her strategic vision, noting that the “true value” of…
Xandeum, Solana (SOL) based storage scaling project, has confirmed the upcoming XAND token launch and liquid staking program (LST), as reported to Finbold on Tuesday, October 29. Launching on October 29 at 16:00 UTC, the XAND token will empower members to earn rewards while engaging with the Xandeum’s ecosystem. Both centralized and decentralized exchanges (DEXs), such as Raydium and MEXC, have already expressed support for the token. XAND token airdrop This launch entails a 60 million XAND token airdrop for eligible users. Through DAO governance, the XAND token offers substantial utility as one of Solana’s most versatile assets. Early SOL…
As of October 20, 2024, the cryptocurrency market continues to show mixed movements across various coins, with Bitcoin (BTC) maintaining a solid dominance and certain altcoins experiencing notable volatility. Here’s a breakdown of key statistics and events from the day, along with insights into market sentiment and liquidations. Daily Summary on October 20, 2024$APE $JUP $IMX $BEAM $GALA $APE $BTC $DOGE $SOL $DIA#dailysummary #DeFi #Crypto pic.twitter.com/jHBez6KPwC — PHOENIX – Crypto News & Analytics (@pnxgrp) October 20, 2024 The total cryptocurrency market cap is $2.35 trillion, with over 30,646 currencies actively traded. Over the last 24 hours, the market saw a…
Donald Trump wants to impose tariffs of 25% on all trade products coming from Canada and Mexico as well as an additional 10% on Chinese goods. How will Trump’s tariffs affect the crypto market? In a Nov. 26 post on his social media site Truth Social, U.S President-elect Trump announced the international tariffs would remain in place “until such time as Drugs, in particular Fentanyl, and all Illegal Aliens stop this Invasion of our Country.” Throughout his presidential campaign, Trump placed trade tariffs high on the list of priorities, specifically aiming the spotlight on Mexico. He told Mexico’s President Claudia…
Market expert Murad has fueled an argument in the crypto community after mentioning tokens that are allegedly better than heavyweights Shiba Inu, XRP, and Dogecoin. Utility tokens like XRP and Chainlink offer considerable use cases for the crypto industry. For context, XRP boasts fast, cross-border transactional capabilities, while Chainlink provides off-chain data for smart contracts. Notably, XRP is the seventh-largest cryptocurrency by market cap, trading at $0.5236 and with a valuation of $29.7 billion. On the other hand, Chainlink occupies the 15th slot, exchanging hands at $11.48 with a valuation of $7 billion. Meanwhile, Dogecoin and Shiba Inu are the…
Bitcoin’s dominance spiked 14% in 18 days during 2020, drawing liquidity from altcoins. Historical patterns suggest a potential decrease in Bitcoin dominance could trigger another altcoin rally. Investors are cautiously watching for signs of Bitcoin liquidity shifting, which could signal the start of a new altcoin season. Season of many new alt coins could be around the corner as the Bitcoin dominance index dramatically changes again. Real-world data from 2020 indicates that a steep ascent of Bitcoin dominance could be quickly corrected but this will spur new action and possibly even the altcoins market. In 2020, when bitcoin made the…