Author: NBTC
In its latest third-quarter mining report, CoinShares announced that Bitcoin mining costs have reached record levels. CoinShares: Bitcoin Mining Costs at Record Level According to the report, the production cost of each Bitcoin is approximately $49,500 when cash expenses alone are taken into account, while this figure increases to an average of $96,100 when additional costs such as depreciation and stock compensation are included. CoinShares Chief Researcher James Butterfill noted that despite the high costs, mining companies continue to expand their infrastructure and plan to invest more in anticipation of future price increases. According to previous data, the total computing…
Major cryptocurrency Bitcoin is down nearly 4% in the last seven days, erasing most of the gains from the $49,500 low on Aug. 5. While the market expects a new ATH with a fast and strong recovery, analysts say that BTC may experience further corrections and a rapid recovery is not yet likely. At this point, 10x Research founder Markus Thielen predicted that there is a possibility that BTC could drop below $50,000. Stating that the Bitcoin price fell below the ascending trend line of the asymmetrical triangle in the last correction in his recent analysis, Thielen said the following…
Suilend, a DeFi lending and borrowing platform, has announced the launch of SpringSui, a new standard for liquid staking tokens (LSTs) on the Sui network. The introduction of Spring SUI (sSUI), the first LST under this new framework, is part of this standard. More Web3 users will be able to engage in staking thanks to sSUI, which will also expand the Sui network’s liquidity and yield-generating possibilities. The protocol-level upgrades SIP-31 and SIP-33, which establish a new token standard intended to speed up the expansion of LSTs on Sui, are the foundation for SpringSui. Suilend created sSUI, the first token…
Gravitaslabs, a key player in the Web3 industry and partner of Animoca Brands, has joined forces with LightLink to bring Lamborghini’s new digital platform, Fast ForWorld, to life. This partnership aims to redefine fan engagement and brand loyalty in the automotive sector. It leverages a gasless, Ethereum-based Layer-2 (L2) blockchain solution to foster a seamless user experience for Lamborghini enthusiasts. Lamborghini’s Next-Level Platform Hits Web3 Gravitaslabs is popular for its work on immersive Web3 engagement solutions, bringing interactive digital platforms to major automotive, sports, and fashion brands. It will use LightLink’s L2 solution, designed for high transaction speeds and low…
Ether has bucked its recent trend of underperformance against bitcoin, rising by 2.5% in the past 24-hours whilst bitcoin has edged lower. $17 million worth of short bets on ether have been liquidated on derivatives exchanges. Continued negative sentiment around ETH’s loss of market share could lead to a short squeeze. Ether (ETH) might be primed for a period of upside price action after sharply underperforming against bitcoin (BTC) in recent months. Skeptics have claimed that the emergence of layer-2 networks has seen Ethereum fall out of favor among DeFi traders, but the data tells a different story. Has the…
MicroStrategy (MSTR) is nearing a significant milestone, being less than $3 billion away from surpassing Coinbase’s market capitalization. As of late October 2024, MicroStrategy’s market cap stands at approximately $52 billion, while Coinbase’s is around $55 billion. This shift comes amid resurgence in the cryptocurrency market, fueled by rising Bitcoin prices and increased investor interest following the recent ETF approvals. ⚡️ MicroStrategy less than $3b away from flipping Coinbase’s market cap. #Bitcoin Strategy 💪 pic.twitter.com/414tlmZaMX — Bitcoin Archive (@BTC_Archive) October 29, 2024 MicroStrategy’s Market Cap Over the Years MicroStrategy has adopted an aggressive strategy by investing heavily in Bitcoin, holding…
With a bullish trend and rising hype, is First NEIRO on Ethereum ready to prolong the uptrend for a new all-time high? With a market cap of $368 million, the “First NEIRO on Ethereum” token increased 138% in the past 24 hours. Supporting the massive bull run, the trading volume over the past 24 hours has surged by 113%. As trading volume hits the $833 million mark, the meme coin becomes the tenth biggest cryptocurrency based on trading volume in the market for today. With a circulating supply of almost 420 billion NEIRO Ethereum, the meme coin has reached 99.79%…
BTC’s price bounces remain shallow and brief as concerns about the U.S. economy linger. Crypto weakness may be a red flag for traditional risk assets, one analyst said. Bitcoin (BTC) dropped below $57,000 on Thursday, reversing Wednesday’s gains as lingering concerns about the strength of the U.S. economy prompted investors to sell risk assets as they rebounded. The leading cryptocurrency by market value fell over 2% to $56,700, having failed to secure a foothold above $58,000 on Wednesday. Prices peaked above $65,000 on Aug. 25 and have been falling ever since, with the downtrend characterized by brief, shallow bumps, a…
Following other recent decentralized finance (DeFi) emerging projects in the Solana ecosystem, the newly launched Solayer USD launched the first synthetic stablecoin backed by real-world assets (RWA) in the Solana blockchain. It is a new chapter in DeFi that enables users to deposit their stablecoins to generate yields associated with actual asset-backed value. sUSD, the first RWA-backed synthetic stablecoin on #Solana, surpassed 10M $USDC in deposits within just one hour of its launch, drawing nearly 5.9K deposits!https://t.co/6Thd3nKRNY pic.twitter.com/64TxZk7VB2 — Lookonchain (@lookonchain) October 30, 2024 sUSD hit the ground running as soon as it was released, reaching the significant achievement of…
The price of Ethereum (ETH) has risen above the moving average after hitting a low of $2,379. ETH price analysis by Coinidol.com. Long-term analysis of the Ethereum price: bullish The largest altcoin has started a bullish climb as it approaches resistance at $2,800. The cryptocurrency has been trading between $2,200 and $2,800. This is the fifth time buyers have attempted to hold the price above $2,800. In previous attempts, Ether was rejected at the recent high, resulting in a sideways trend. On the upside, a rise to $3,400 is likely if buyers break above the $2,800 resistance. However, if Ether…