Author: NBTC

Bitcoin witnessed a notable intraday swing from $65,569 to $73,794, reflecting a volatile market environment. Despite this turbulence, its market capitalization still holds strong at just over $1.3 trillion, supported by a substantial 24-hour trading volume of $89 billion. Bitcoin The analysis of bitcoin’s (BTC) oscillators and moving averages (MAs) presents a mixed signal for BTC’s immediate direction. Oscillators such as the relative strength index (59) and the Stochastic (78) indicate a neutral stance, suggesting a period of consolidation. However, the momentum indicator points to a bullish action, contrasted by the moving average convergence divergence (MACD) level advocating a bearish…

The weekly transaction volume of Tether (USDT) on Tron hit $110 billion in the first week of April, signaling heightened stablecoin activity on the network. According to a tweet by IntoTheBlock, Tether’s latest milestone on Tron was 2x the amount the stablecoin settled on Ethereum. This indicates that Tron has maintained its position as the leading network for USDT transactions. USDT Records $110B Volume on Tron IntoTheBlock attributed high USDT transactions on Tron to the network’s low fees, saying that the blockchain has allowed users to access the United States dollar-backed asset easily. Last month, CryptoPotato reported that USDT transaction…

On or around April 19, the fourth Bitcoin halving will take place, cutting in half the rewards miners receive for solving a block on the Bitcoin blockchain. The halving event is programmed into Bitcoin’s protocol every 210,000 blocks and occurs roughly every four years. It is designed to limit the digital asset’s total supply and establish a fundamental scarcity. Therefore, efficiency is critical for bitcoin (BTC) mining companies to remain competitive as the 2024 halving approaches and even as the following halving in 2028 is considered. To prepare, bitcoin miners must examine three key areas of their business: power, operations…

In the ever-volatile world of cryptocurrencies, Bitcoin (BTC) experienced a noticeable dip today, with its price falling to $67,549. This represents a 7.25% decrease in the last 24 hours, causing a stir among investors and traders. The sudden price drop comes after a period of notable increases, where Bitcoin notably achieved a new all-time high (ATH), signaling strong bullish momentum in recent weeks. However, according to renowned crypto analyst Rekt Capital, this dip should not be a cause for alarm among the cryptocurrency community. Instead, it is described as a healthy price correction ahead of a significant upcoming event in…

Retail investors looking to tap into Bitcoin’s DeFi potential could do a whole lot worse than taking a look at USDb, a new kind of high-yield, synthetic dollar crypto asset that’s built on Merlin Chain’s Layer-2 infrastructure. The USDb asset is the first “Synth” created by the smart money protocol Umoja, which has set itself the goal of providing retail investors with access to the same kinds of advanced trading strategies that were once exclusive to the world’s biggest hedge funds and institutions. Umoja believes that the path to wealth creation is blocked for many retail investors due to what…

The influx of capital into stablecoins has surged, with a staggering $4.21 billion injected into dollar-pegged cryptocurrencies within the last ten days. According to data from DefiLlama, the stablecoin market was about $150.42 billion as of Apri 1. The figure has grown by $4.21 billion to hit $154.63 at press time. Of the $4.2 billion influx, Tether, the most prominent stablecoin issuer, accounted for $2.4 billion in USDT. Notably, most of the USDT tokens were issued via the Tron blockchain. At press time, Tether commands $107.28 billion of the stablecoin market. However, Circle’s USDC, while maintaining its standing as the…

With just over three days remaining until the halving, Core Scientific has announced its plans to enhance its Texas mining facility by an additional 72 megawatts. This project is scheduled for completion by the end of the second quarter of 2024. This expansion aims to augment the company’s existing hashpower capacity. Core Scientific Plans for 72 More MW to Enhance Mining Efficiency With the halving event fast approaching, set to occur in just about 3.5 days, bitcoin (BTC) miners are actively preparing. On Tuesday, Core Scientific, Inc. (Nasdaq: CORZ) revealed plans to expand its Denton, Texas, bitcoin mining campus by…

According to on-chain analytics firm IntoTheBlock, a staggering $750 million worth of Bitcoin (BTC) was withdrawn from various crypto exchanges on March 14, as Bitcoin rose to a fresh all-time peak of almost $73,798. IntoTheBlock reported that over $750 million in BTC were withdrawn from exchanges in the past 24 hours, which is the highest since May 2023. The Bitfinex and Kraken exchanges account for the majority of these withdrawals, totaling $524 million and $130 million, respectively. Over $750m $BTC was withdrawn from exchanges yesterday, the highest since May 2023. The majority of these withdrawals originate from Bitfinex ($524m) and…

MetaMask Institutional, the popular Web3 wallet that MetaMask operates for organizations, has recently introduced exclusive APIs. According to the project’s announcement, the launch of the vast series of respective APIs focuses on the provision of accurate and timely data in the decentralized finance (DeFi) sector. DeFi requires timely and accurate data for crypto funds, venture capitalists, developers, and builders.In order to address these needs, MMI has launched a suite of APIs to improve operational efficiency, data accuracy, and reporting capabilities.📊https://t.co/o3Hh2eIxBw — MetaMask Institutional (@MMInstitutional) April 16, 2024 MetaMask Institutional Releases DeFi APIs for Organizations In its announcement, the well-known self-custodial…

Publicly traded Bitcoin mining firm Hut 8 Corp announced on April 16 the initialization of self-mining operations at its new Salt Creek facility, only 78 days after breaking ground in the area. The Texas-based facility boasts a favourable energy profile, which is expected to reduce mining costs by 30% compared to the firm’s hosting facilities. Hut 8 Expands Its Mining Fleet The new site energization represents just one-third of the entire facility, charged with 63 megawatts (MW) of power in total. “With Salt Creek, we gain critical control over our miner fleet and operating costs as we head into the…