Author: NBTC
Foundry USA and Antpool now have more than 60% Bitcoin hash rate, which increases the problem of centralization in the Bitcoin network. Centralization of mining power introduces the threat of a 51% attack where a single party gains control over the blockchain. As mining increasingly consumes resources, small miners cannot afford to mine Bitcoins due to increased costs and hence consolidation of companies. The Bitcoin network is experiencing a flow of the mining market where only two mining pools control the hashrate of the network. This development has provoked concerns about possible centralization, a situation that may resist the decentralized…
If you haven’t been around too long, it’s hard to fully appreciate how quickly narratives can shift in this industry, especially when playing catch-up. Fads grow old, memes become tired. It’s fair to say that this year’s seasonal craze is currently feeling the pressure of Bitcoin’s fading momentum. While it could be easy to write it off as a temporary setback caused by the usual bull market correction, strong underlying currents are working against popular scaling narratives. As this tide is going out, it’s become a little hard to ignore those out there swimming naked. Is the airdrop meta over?…
As expected, the FED left interest rates constant. Here is Bitcoin’s first reaction after the interest rate decision: There are analysts who think that Jerome Powell may signal a rate cut in September at the press conference he will hold in half an hour. The expected move could lead to lower borrowing costs for U.S. consumers and businesses and mark a key moment in the Fed’s two-year fight against inflation. Latest data shows inflation is steadily approaching the Fed’s 2% target and there has been a notable cooling in the labor market, with the unemployment rate rising by nearly half…
NEAR Protocol’s new governance proposal led to a 10% rise in token value, enhancing ecosystem decentralization and governance. The proposal introduces a stake-weighted voting system, giving more control to NEAR token holders based on their stake. The governance changes include a new funding model and the creation of a Screening Committee to manage delegate selection and prescreen grant proposals. NEAR Protocol has unveiled a key governance concept created in partnership with Gauntlet and the NEAR Foundation. The news resulted in a 10% boost in the value of the NEAR token, as the proposal seeks to improve the decentralization of the…
The Ohio Department of Commerce has ordered crypto exchange Coinzoom to cease operations in the state effective Aug. 1 following a regulatory examination. Current customers can still withdraw their assets, but the exchange cannot accept new business. The suspension follows a multi-state examination revealing financial discrepancies. Coinzoom is seeking an administrative hearing to address the order. Ohio Takes Action Against Coinzoom Crypto Exchange The Ohio Department of Commerce Division of Financial Institutions (DFI) announced on Thursday that it has ordered Coinzoom Inc., a cryptocurrency exchange, to immediately cease operations in the state. Coinzoom, licensed as a money transmitter in Ohio,…
Bitcoin (BTC) is nearing breaking the downtrend pressing its price down over June, according to the trader identified as Rekt Capital. Moreover, in a video published today, he shared that the current price level might be the last buying bargain before a parabolic upward movement. Usually, the retraces reach 22% on average, indicating a local bottom. In an X post, Rekt Capital pointed out that the current pullback is “very, very close” to the 22% average. Notably, this means that a bottom is practically formed, and it is a position from where Bitcoin could rise. Rekt Capital then adds that…
The cryptocurrency community displayed optimism when Donald Trump selected Sen. J.D Vance as the US vice presidential nominee. Both Trump and Vance continue to position themselves as cryptocurrency-friendly candidates in the upcoming US general elections. The digital assets sector has showcased stability amid the ex-president’s election campaign. In fact, Trump’s campaign continues to receive millions in crypto donations. And guess what? Amid the ongoing optimism and Bitcoin reclaiming $65K, the Avalanche (AVAX) community has even more bullish news. Crypto analyst RamenPanda has revealed that Trump’s running mate holds AVAX worth over $70.47 million, making him the fifth largest Avalanche holder.…
The world’s largest cryptocurrency exchange, Binance, has hinted at something big by adding Hamster Kombat ($HMSTR) to its platform. This news has thrilled the crypto community, sparking curiosity and enthusiasm among traders and investors. The Hamster Kombat community has been eagerly waiting for the airdrop and exchange listing. Listing on Binance After its recent listing on CoinMarketCap, Hamster Kombat has now appeared on Binance. This makes it easier for traders to access and trade the token once it’s launched. Binance’s move shows its commitment to offering a wide range of tokens to its users and strengthens its position as a…
A closely followed crypto analyst is warning that Bitcoin (BTC) could suffer a massive correction as it trades in the lower $60,000 range. In a new video update, crypto strategist Benjamin Cowen tells his 802,000 YouTube subscribers that Bitcoin could return to the $50,000 range on the weekly chart amid a possible “summer lull.” Cowen believes Bitcoin may repeat a similar 2021 pattern when there was a sell-off in late April, a weeks-long rally starting in May, and then a downward trend in the summer months. “You could certainly have a deeper pullback as well, back into the $50,000s. I…
As of July, interest rates have been at their highest level in 23 years for exactly one year. While many people are speculating about possible changes, a rate cut seems unlikely today. But market analysts are hopeful of hints of future reductions, possibly in September. FED will announce interest rates at 21:00 today. Analysts largely expect the benchmark interest rate to remain unchanged. Following the announcement, Fed Chairman Jerome Powell will hold a press conference at 21:30 and his statements will be closely analyzed for indicators of the Fed’s future actions. Powell is expected to discuss the Federal Open Market…