Author: NBTC
This is a segment from the Forward Guidance newsletter. To read full editions, subscribe. Happy Election Day to our US readers! Yesterday we wrote about one close race in the Senate that has caught the attention of big crypto donors. Here are some other Senate races we will be watching tonight: Utah Senate Seat: Caroline Gleich (D) v. Rep. John Curtis (R) In the race to replace outgoing senator Mitt Romney, current US Rep. Curtis is polling ahead of Democrat Gleich by 35% — a lead largely attributed to the crypto industry. The Defend American Jobs PAC (part of the…
Robin Brooks, former chief economist at the Institute of International Finance, continues to insist that Bitcoin is “just another bubble asset” despite the substantial gains that were recently recorded by the flagship cryptocurrency. The economic expert has downplayed the recent rally, arguing that it was simply the result of an interest rate cut implemented by the Federal Reserve. Last March, Brooks riled up Bitcoin advocates by claiming that the leading cryptocurrency had zero diversification benefits and zero yield. He also stated that Bitcoin could not serve as a viable store of value. After Bitcoin recently came close to registering a…
POL, a brand-new asset of the largest PoS ecosystem Polygon, jumps into the best performers in the top 100 cryptos. Major crypto exchanges, including Binance (BNB), OKX, Bybit and Upbit, have already enabled POL trading as well as some large Tier 2 platforms. POL posts double-digit gains after Binance (BNB) finalizes upgrade Today, Sept. 14, 2024, Polygon’s POL was the best performing asset in the top 100 of cryptocurrencies by market cap. Such an impressive spike was triggered by the fact that POL is now available on the world’s largest cryptocurrency exchange Binance (BNB) in pairs with USDT, USDC and…
What is the true cost of producing one Bitcoin? A fresh report from Coinshares revealed some interesting findings, underscoring the rising mining difficulty and the potential impact on miners. Bitcoin halving events carry a lot of significant and this year’s having was particularly notable. This is because it was characterized by a surge in mining difficulty which may reduce the profitability. As a result, many miners are forced to shut down their operations due to the inability to breakeven. The most notable impact of the higher mining difficulty observed recently is a surge in production costs. The Coinshares reports estimated…
As per the latest data, Bitcoin has seen a six-month high spot in terms of trading. As per IntoTheBlock, the spiking Bitcoin trading has resulted from a spike in the number of $BTC-holding addresses. The blockchain analytics firm disclosed this development on social media. Bitcoin traders hit a 6-month high, according to @intotheblock Addresses holding $BTC for less than 30 days show accumulation, mirroring past bull markets in 2017 and 2020/21. Open interest in derivatives is also up, with a surge in long positions as U.S. elections near. pic.twitter.com/GwHXGQXgu2 — Satoshi Club (@esatoshiclub) November 1, 2024 Bitcoin Sees a Six-Month…
Bitcoin mining difficulty hits over 100T for the first time. The seven-day moving average hashrate reached a peak of 755 EH/s. The higher difficulty puts more pressure on small miners than larger ones. Bitcoin’s (BTC) mining difficulty hit an all-time high of 101.65 trillion (T) Monday, adding to pressure on smaller miners, who may not have as much cash available as their publicly traded rivals to keep their rigs going. Mining difficulty measures how hard it is to discover new blocks on the Bitcoin blockchain. The network automatically adjusts every 2,016 blocks, or roughly every two weeks. This year, difficulty…
Global blockchain interest has plummeted by 58% in three years, with industry attention increasingly shifting toward AI advancements. According to data from Google Trends, blockchain interest has settled at 30, down from 71 on November 3, 2021, while AI interest has surged by more than 560% over the same period. Nigeria leads blockchain web search levels According to Google Trends, the term ‘blockchain’ was searched the most from February 14 to February 20, 2021, with a 100 score in the last 5 years. However, since then its interest levels have dropped starkly. On November 3, 2021, blockchain interest slumped to…
In the latest market update, $CKB has emerged as the top crypto gainer, showing a remarkable increase of 28.2%, according to data from Phoenix. This substantial rise places $CKB at the forefront of today market performers, reflecting strong investor interest and positive trading activity. However, $CKB is not the lone performer today. Many coins are performing well today after BTC crossed the $60 mark. DAILY GAINERS$CKB +28.2% $MNW +24.5% $TEL +23.1% $SNS +19.2% $TRU +16.5% $AERO +15.4% $LIKE +15.2% $PROPS +15.1% $SAGA +13.8% $ROSE +13.6%#dailygainers pic.twitter.com/GM3asKqIu3 — PHOENIX – Crypto News & Analytics (@pnxgrp) September 14, 2024 $MNW Soars 24.5%,…
Blockchain infrastructure has evolved to encompass an ecosystem of layer-1 and layer-2 networks. In this article we’ll explore the difference between the two, and how layer-2 networks and other scaling methods like sidechains attempt to address the scalability challenges of layer-1 blockchains. What are layer-2 networks? Simply put, layer-2 networks are blockchain networks that live atop a layer-1 network such as Ethereum, with the layer-1 network providing the base layer of infrastructure and security for networks building on it, validating transactions and achieving consensus. The layer-2 networks use a variety of technologies to address scalability bottlenecks on the layer-1 blockchain,…
Really, at this point, Coinbase is just embarrassing itself by not buying Bitcoin and doing silly buybacks. Coinbase just had a bad quarter. After reporting disappointing Q3 earnings, its stock plunged over 10%. To instill confidence, Coinbase announced a $1 billion share buyback. But that flopped, too, with shares barely budging. This whole debacle just shows that Coinbase is foolishly ignoring the obvious strategy here — buying bitcoin. Instead of share buybacks, imagine if Coinbase put $1 billion into bitcoin for its corporate reserves. That would have sent a real message. It would show they have skin in the game…