Author: NBTC
Based on the most recent data using the seven-day simple moving average (SMA), bitcoin’s hashrate climbed to an unprecedented peak on Nov. 21, reaching 776 exahash per second (EH/s) for the very first time. Bitcoin’s Computational Power Hits Stratospheric Levels On Thursday, bitcoin (BTC) soared to a fresh all-time high, hitting $99,121 per coin. This price boost has given miners a financial edge, as the hashprice—the estimated worth of 1 petahash per second (PH/s) of hashpower—has significantly increased. For instance, on Nov. 4, 2024, the value of a single petahash stood at $42.86, but today, it has climbed to $63.07.…
Bitcoin’s price has rebounded from a ten-day low as traders attempt to gauge a short-term direction amid a “liquidity hunt” following last week’s surge to its near-all-time high. The asset is trading relatively flat on the day to around $67,500 after dropping to as little as $65,160 on Thursday, CoinGecko data shows. It comes as Bitcoin’s price breached $69,000 on Sunday—the asset’s all-time high, set on March 14, stands at just above $73,700. That has some experts postulating the asset’s move lower this week may have been short-lived. “We don’t see this necessarily as linked to U.S. election odds moving…
From $3.4 billion at the beginning of the year, this is a 300% increase in lending activity. As for other indicators, fees have increased by 48% to $40.34 million. Aave, a pioneering protocol in decentralized finance (DeFi), has reached a significant milestone: $10 billion in active loans. From $3.4 billion at the beginning of the year, this is a 300% increase in lending activity. Active loans on the platform rose by 16.4 percent to $10.04 billion in the previous 30 days, according to data from the on-chain DeFi monitoring tool Token Terminal. Also, the total value locked (TVL), which includes…
Ethereum price started another decline below the $3,150 zone. ETH is struggling and might decline further below the $3,000 support zone. Ethereum is slowly moving lower below the $3,150 zone. The price is trading below $3,100 and the 100-hourly Simple Moving Average. There is a connecting bearish trend line forming with resistance at $3,080 on the hourly chart of ETH/USD (data feed via Kraken). The pair could extend losses if there is a close below the $3,000 support zone. Ethereum Price Struggle Continues Ethereum price attempted an upside break above the $3,200 resistance but failed unlike Bitcoin. ETH started a…
Binance, the world’s largest crypto exchange, says it expects to have 645 full-time compliance employees on staff by the end of the year — a 34% increase from last November — as it continues to rapidly build out its compliance department. Including contractors, the crypto exchange already has over 1,000 employees focused on compliance, according to a Friday press statement from Binance. Binance’s intense focus on regulatory compliance is relatively new for the crypto exchange, which just one year ago, agreed to pay a massive $4.3 billion fine to various U.S. regulators for violating the Bank Secrecy Act (BSA) and…
Core Scientific is converting its cryptocurrency mining campus in Denton, Texas, into a $6.1 billion data center hub for artificial intelligence (AI) workloads, signaling a shift in its business strategy amid increasing demand for AI-driven computing. Core Scientific’s Denton Campus to Host $6.1 Billion AI Project Core Scientific’s (Nasdaq: CORZ) revised lease agreements and power contracts with the city of Denton will facilitate the expansion of its existing facilities, securing access to 394 megawatts of power. This represents a significant upgrade from the original allocation of 297 megawatts. The transition aligns with Core Scientific’s pivot from bitcoin (BTC) mining to…
The spike in the number of whales strengthens the case for a rally to record highs. Retail investor accumulation has recently slowed, according to CryptoQuant. The number of large bitcoin holders is growing again, boosting the case for a price rally to new record highs. Data tracked by Glassnode and André Dragosch, director and head of research – Europe at Bitwise, shows the number of so-called whales or network entities owning at least 1,000 BTC jumped to 1,678 early this week, reaching the highest since January 2021. The growing accumulation by large holders alongside solid uptake for alternative vehicles, especially…
This milestone increases the utility of wstETH by transforming it from a simple staking token to an active collateral asset on the JOJO Exchange. Chainlink’s high-frequency Data Streams ensure accurate real-time pricing for wstETH, supporting reliable collateral valuation. JOJO Exchange has onboarded a new innovation with Lido and Chainlink, allowing decentralized finance (DeFi) users the ability to utilize wstETH as collateral on its platform. In doing so, this integration further leverages the utility of wstETH, an interest-accruing token representing staked Ethereum from Lido. It will now utilize high-frequency Data Streams from Chainlink to ensure reliable real-time pricing. wstETH Gets New…
Ethereum price continued to rise by retail investors have clung to their holdings, a good sign for long-term growth. Minimal inflows to exchanges and Spent Output Profit Ratio (SOPR) hovering near the breakeven point indicate a collective resistance to sell despite the price rise. The behavior pattern highlighted periods where Binance and OKEx user deposit addresses remained active yet did not correspond with a sell-off, even as the price of Ethereum scaled new heights. – Advertisement – This underlined a strong “buy and hold” strategy among investors. It fueled speculations that Ethereum could escalate to $4,000 if it maintained a…
This is a segment from the Forward Guidance newsletter. To read full editions, subscribe. Shares of Donald Trump’s social media company, Trump Media & Technology, continued to fluctuate Tuesday following a rally spurred by reports that the president-elect is furthering his crypto business interests. The Financial Times reported Tuesday that Trump Media is in “advanced talks” to acquire crypto exchange Bakkt — a company founded and owned by New York Stock Exchange parent company Intercontinental Exchange (ICE). The news pushed Bakkt shares 162% higher Monday and Trump Media (ticker DJT) posted a 17% gain. Bakkt sustained its rally into Tuesday…