Author: NBTC
The divergence between Bitcoin’s hash rate and price could signal a potential rally in prices, according to historical data. September’s counter-seasonal price trend has already started to show signs of this divergence trend playing out. Publicly traded miners have increased their market share post-halving by raising their computing power and started accumulating bitcoin, potentially reducing market supply and raising a chance of upside to the price. A divergence between bitcoin (BTC) price and its hashrate or network’s total computing power could potentially point towards a rally in the price of the largest digital asset. Historically, these divergences have occurred only…
As of Oct. 7, 2024, ethereum is trading between $2,467 and $2,473, with its market capitalization standing at $297 billion. Over the past 24 hours, its price has moved within a range of $2,416 to $2,510, accompanied by a trading volume of $12.87 billion. The 1-hour, 4-hour, and daily charts all suggest the market is in a holding pattern, as traders anticipate a clearer direction for ethereum’s next move. Ethereum The 1-hour chart shows ethereum bouncing from the $2,412 support level to a short-term high of $2,513 before pulling back. With low trading volume and sideways price movement, the market…
Traders are pricing in less than 50 basis points of Fed interest-rate cuts by year-end, down from 75 bps early last week. Bitcoin’s rally stalls as Treasury yields and the dollar index rise. Though crucial, Thursday’s U.S. inflation data may not cause tectonic shifts in the market. About three weeks ago, the U.S. Federal Reserve (Fed) delivered an outsized 50 basis point interest-rate cut, interpreted by many analysts as signaling more easing ahead. The move triggered a wave of optimism across financial markets, with analysts predicting 75 bps of additional cuts and a $100,000 price for bitcoin (BTC), currently around…
An anonymous cryptocurrency trader turned a $368 initial purchase into $2 million of unrealized gains in just three days. Commentators on X speculate on a possible insider trading activity, although nothing is confirmed. In particular, the trade occurred with the meme coin HIPPO on the Sui network against its native token, SUI. According to a Lookonchain report on October 2, the “guy” made approximately $2 million in three days. First, on September 28, the anonymous trader spent $368 worth of 198 SUI to buy 253.5 million of HIPPO. The “guy” then sold 119.6 million HIPPO for $325,000 worth of 175,000…
Hoskinson uses a lawsuit to highlight Trump’s favorable crypto policies over Harris, suggesting he could influence future SEC decisions. The crypto community favors Trump for his pro-crypto stance, as shown by betting odds and market support, expecting beneficial regulatory changes. Cardano founder Charles Hoskinson has leveraged a lawsuit against the U.S. Securities and Exchange Commission (SEC) to highlight his support for Donald Trump over Kamala Harris in the upcoming U.S. election, due to Hoskinson’s bold attitudes towards the SEC’s decision to appeal the Ripple ruling. As CNF recently highlighted, Hoskinson suggested a potential shift in legal frameworks governing cryptocurrencies with…
The world’s largest cryptocurrency exchange Binance has announced that it will list the highly anticipated token Binance Staked SOL (BNSOL). “Binance will list BNSOL and open trading for BNSOL/SOL at 10/102024 08:00 UTC.” Stating that there are 3 ways to buy BNSOL, Binance listed them as follows: “[Kazan] > [ SOL Staking ] öğesine gidin ve [SOL Stake] öğesine tıklayın. Deposit SOL to BNSOL in Binance Web3 Wallet. Deposit BNSOL to your Binance account. Binance also announced a promotional offer for users who stake SOL. Accordingly, Binance said, “Stake SOL to receive BNSOL and enjoy up to 10% increased APR.…
Bitmain stormed the Bitcoin mining industry after launching new and more efficient mining machines for Bitcoin miners. The company announced the S21+ Hyd. and the S21+ mining machines during the Bitcoin Amsterdam Summit held in the Netherlands. Chinese processing hardware manufacturer Bitmain launched the S21+ Hyd. and the S21+ mining machines. The S21+ Hyd. has an energy efficiency ratio of 15.0J/T and a single-machine computing power of 319T. This means the machine can generate 1T of computing power for every 15 joules. Bitmain promises miners high mining efficiency The S21+ has an energy efficiency ratio of 16.5J/T and a single-machine…
The Readyverse—a metaverse gaming world inspired by author Ernest Cline’s “Ready Player One” book and film, and other properties—is getting an injection of generative AI. Unveiled today at the Permissionless III conference in Salt Lake City, The Readyverse’s new AI model named Promptopia lets users generate new 3D objects in the game and in real-time using text prompts. According to Readyverse Studios co-founder Aaron McDonald, the aim of Promptopia is to democratize game creation by enabling anyone to become a creator, regardless of technical skills. You can simply type whatever you want to make it appear in the game world.…
Fidelity has been quietly accumulating Bitcoin over the past week, purchasing more than 5,000 BTC, according to data from Arkham Intelligence. This strategic acquisition brings the Fidelity exchange-traded fund (FBTC)’s total Bitcoin holdings to over 176,000 BTC. Fidelity has been buying Bitcoin non-stop for the past 2 weeks. What about you? pic.twitter.com/ho2dMyDkzJ — Arkham (@ArkhamIntel) September 20, 2024 Based on data from the Bitbo Treasuries Tracker, these holdings are valued at approximately $11 billion at current market prices. With Bitcoin trading around $62,600, Fidelity now controls nearly 1% of the total Bitcoin in circulation, solidifying its position as a major…
In the 1980s, artist Susan Kare put a human face on the Apple Macintosh, designing the icons and typefaces that revolutionized how we interact with computers. Now she’s once again bridging the digital and physical worlds with a new collection of artwork, Esc Keys, launching at London’s Asprey Studio as part of Frieze London. Esc Keys. Image: Susan Kare/Asprey Studio “I was a typical art kid who liked to paint and all kinds of crafts, and never imagined I would want to work for a Fortune 500 manufacturing company,” Kare said at Tuesday’s launch event for Esc Keys. After studying…