Author: NBTC
Ethiopia is emerging as a significant player in Bitcoin mining, with local operations now accounting for 2.5% of the global hash rate. On Dec. 4, local Bitcoin miner Kal Kassa stated: “Bitcoin miners in Ethiopia now command 2.5% of the global hash-rate. If trends continue, according to Ethiopian Electric Power (EEP), this will more than double within one year.” This aligns with statements made by Ethan Vera, co-founder and COO of Luxor Mining, who noted that the EEP reports local operations already consuming 600 MW of power. By year-end, that number could rise to 1 gigawatt, representing as much as…
The Ethereum blockchain’s transactional revenue has increased substantially since Donald Trump’s U.S. election victory, Steno Research said in a Monday report. “This outcome is crucial for all onchain activity,” wrote analyst Mads Eberhardt. The surge has led to higher staking rewards and more ether (ETH) being burned via transaction fees, the report said. “This combination strengthen’s Ethereum’s tokenomics,” Steno said, making ether a more appealing asset. Steno noted that the amount of USDT on the Ethereum network surpassed supply on the Tron blockchain for the first time in more than two years. This is a clear sign that on-chain activity…
Dog-themed crypto Shiba Inu (SHIB) has underperformed lately as investors focused on new and trending meme tokens such as POPCAT and PEPE. While the 5% price dip over the past week highlights weakness, recent trends suggest a potential comeback for SHIB. Shibarium’s daily transactions jump 1,300% Shiba Inu’s L2 network has seen a significant pause in progress within the last several months. Nevertheless, Shibarium has seen relief over the past few days, with some crucial indicators resurging to early 2024 highs. The platform saw daily transactions skyrocketing towards 1.8 million on 22 October, according to Shibariumscan. That represented a staggering…
Binance, one of the world’s largest cryptocurrency exchanges, has announced that it has added new trading pairs and advanced trading bot services to its Spot platform, effective December 4, 2024. Binance Expands Trading Options with New Pairs and Trading Bots Services To expand trading options and improve user experience, Binance will open trading on the following pairs on December 4 at 08:00 UTC: EN/BRL EOS/FDUSD KAIA/USDC SAND/USDC XLM/FDUSD XLM/USDC Extended Trading Bots Services Binance will also be introducing trading bot functions to optimize trading strategies across various pairs: Spot Grid and Spot DCA Bots: AVAX/USDC METIS/USDT RONIN/USDT XRP/EUR Rebalancing Bot:…
The ongoing bullish momentum in the crypto market is gaining strength, with analysts highlighting on-chain indicators that suggest a sustained uptrend for Bitcoin. On-chain analysts like Ali Martinez draw insights from Bitcoin’s historical trends around its 200-day moving average. In a Monday post on X, he noted that Bitcoin is again attempting to surpass this key moving average. Martinez emphasized that in the past three instances when Bitcoin broke above the 200-day moving average, it led to massive parabolic bull runs. Notably, the 200-day moving average is an important technical indicator that represents the average closing price of Bitcoin over…
Ethereum is showing strong bullish momentum, driven by an influx of buyers. However, as the price nears a significant resistance level at $4K, market participants should anticipate a period of consolidation with the potential for heightened volatility. Technical Analysis By Shayan The Weekly Chart Ethereum has experienced an impulsive uptrend, fueled by buying activity near the $2.5K support region. This movement has led to a breakout above the key 100-day and 200-day moving averages, signaling a shift in market sentiment and confirming the buyers’ dominance. The asset is approaching the $4K resistance zone, a crucial psychological and technical level, likely…
According to on-chain data, Ripple has transferred 60 million XRP in different transactions to anonymous wallets. This development comes amid the announcement of a strategic collaboration between Garanti BBVA and Ripple aimed at enhancing the performance and security of Garanti BBVA’s growing digital platform. According to Blockchain data tracker Whale Alert, the transfer of 60 million XRP, valued at approximately $30.1 million, was executed in two parts. The first transaction saw “30,000,000 XRP worth $15,908,943 transferred from Ripple to unknown wallet,” while the second saw “30,000,000 XRP worth $15,908,943 transferred from Ripple to unknown wallet.” 🚨 30,000,000 #XRP (15,908,943 USD)…
Coinbase users in New York can now trade the popular dog-themed meme coin Dogwifhat in one of the most tightly regulated cryptocurrency markets. According to a Dec. 3 announcement, Coinbase has made Dogwifhat (WIF) available for users in New York who can now “buy, sell, convert, send, receive or store” on the exchange’s website, iOS and Android applications. dogwifhat (WIF) is now available to New York residents on https://t.co/CD3RBjtMAO & in the Coinbase iOS & Android apps. — Coinbase Assets 🛡️ (@CoinbaseAssets) December 2, 2024 New York State enforces specific cryptocurrency business regulations, requiring companies to secure either a BitLicense…
The number of Bitcoin addresses in profit has significantly increased following its price surge above the $65,000 zone. According to data provided by IntoTheBlock, over 50.67 million Bitcoin (BTC) addresses have accumulated the asset below $65,500, accounting for 94% of the total BTC holders. The remaining 6%, around 3.37 million addresses, purchased Bitcoin for an average price of $68,139 with a total volume of 1.58 million BTC, per data from ITB. Of this tally, over 80,000 daily active addresses are in profit and around 247,000 holders are close to their initial investment, per ITB data. At this point, only 3,440…
For the first time since its approval, Ethereum exchange-traded funds (ETFs) have recorded monthly inflows surpassing $1 billion, signaling a significant rise in institutional interest. This milestone coincides with ETH’s price climbing to $3,700, raising expectations for further gains in the near future. With institutional demand poised to bring long-term stability, the substantial inflows suggest that Ethereum is becoming a preferred asset for diversified portfolios. How will this affect ETH’s price? Ethereum Sees Improved Institutional Interest In September, Ethereum ETFs faced a tough month with net outflows of -22,678 ETH, indicating weak investor demand. However, October saw a dramatic rebound,…