Author: NBTC

Bitcoin (BTC) continued its sharp pullback after a fast start to the week, with the price retreating to a two-week low of of $62,700. At press time, bitcoin was lower by 5.5% over the past 24 hours, outperforming the broader CoinDesk 20 Index’s 6.1% decline. Ether (ETH) was off 5.8%, Solana (SOL) 10% and XRP (XRP) 10%. It was roughly 72 hours ago when bitcoin touched more than a four-month high just above $70K. Markets received what nominally was good news on Thursday morning, with the U.S. July ISM Manufacturing PMI falling far more than economist expectations, sending interest rates…

Phoenix Group, a prominent platform for analytics about crypto, has recently shared a list of top crypto projects based on weekly growth in total value locked. Phoenix Group’s list of top crypto projects with maximum weekly TVL development includes $RARE, $MINT, $AURA, $JUP, $KSP, $SCA, $ASTRO, $SAKAI, $BETA, and $TRU. The analytics firm disclosed the details of the respective projects on its official social media account. TOP PROJECTS BY WEEKLY #TVL GROWTH$RARE $MINT $AURA $JUP $KSP $SCA $ASTRO $SAKAI $BETA $TRU pic.twitter.com/BEoRGp5uCH — PHOENIX – Crypto News & Analytics (@pnxgrp) August 18, 2024 RARE Leads the Crypto Projects Based on…

This week, Bitmain introduced its latest bitcoin mining machine, which packs an impressive punch with a reported output of 860 terahash per second (TH/s). To put that in perspective, this new rig churns out 81.81% more hashpower than its predecessor, the Antminer S21 XP Hydro. And if we go way back, it’s a mind-blowing 477,677% more powerful than the original Antminer S1, which hit the scene in 2013. From 0.18 TH/s to 860 TH/s — ASIC Performance Ceiling Still Out of Reach On Sept. 7, 2024, Bitcoin’s hashrate hit an all-time high of 693 exahash per second (EH/s), according to…

Throughout July, bitcoin has climbed 2.5% against the U.S. dollar, despite a midweek dip to $64,350 per coin. This month has been marked by notable events, including movements by Mt Gox and the U.S. government transferring billions. Additionally, 76 transactions from dormant bitcoin wallets, created between 2010 and 2017, spent 6,536.17 BTC, amounting to $424 million. 6,536 Idle Bitcoins Stir Several long-inactive bitcoin addresses, untouched for seven years or more, have become active for the first time since their creation. Recently, Bitcoin.com News covered the significant amounts of BTC moved by wallets created in 2017. Notably, addresses from 2013 were…

Sky, the decentralized finance lender previously known as MakerDAO, will move forward with a plan to offboard wrapped bitcoin (WBTC) as collateral, following a vote that closed on Thursday and garnered overwhelming support from the project’s community. The matter has been closely followed in crypto markets, since the Sky platform has $200 million of loans collateralized by the token, and since WBTC is one of the biggest cryptocurrencies, with nearly $10 billion outstanding. BA Labs, an influential advisor to the project, had initially floated the idea of reducing exposure to WBTC in August, before confirming the plan last week with…

The launch of the SunPump memecoin launchpad of Justin Sun has resulted in significant revenue generation for the Tron Network. Lookonchain, a popular on-chain analytics provider, has revealed that a huge surge has taken place in activity on the Tron Network, specifically in the generation of meme tokens, resulting in the addition of 1.84M TRX. The analytics firm took to its official X account to provide insights into this development. Since #SunPump launched, 4,844 #MEMEcoins have been created on #TronNetwork, bringing a revenue of 1.84M $TRX($246.6K). pic.twitter.com/R8n7wZHUiy — Lookonchain (@lookonchain) August 18, 2024 Tron Network Generates Massive Revenue after SunPump’s…

Core Scientific Bitcoin wallets have been tagged over 1,250 as part of the blockchain transparency for the larger mining operations with Arkham. On-chain activities of Core Scientific are disclosed and reveal detailed information about one of the largest Bitcoin miners in the world. This transparency level could become a new benchmark for the industry, which may cause other major miners to realize that they should also disclose more information. Core Scientific, one of the largest Bitcoin mining companies in the world, has reached a major milestone. The firm is currently the second largest publicly-traded Bitcoin miner globally and has mined…

Bitcoin’s hash rate has surged to an all-time high, reaching an astounding 667,144,834 terahashes per second (TH/s) on July 26, 2024. This unequaled rise not only signifies enhanced network security but also highlights the maturing competition among Bitcoin miners. Simultaneously, Bitcoin’s price has rebounded to $67,920, demonstrating a resilient market despite recent turbulence. NEW: #Bitcoin’s hash rate hit a new ATH 🚀 pic.twitter.com/oKP6hs1yMN — Bitcoin Magazine (@BitcoinMagazine) August 1, 2024 The hash rate is a fundamental indicator of the Bitcoin network’s computational power. It represents the number of guesses a processor’s hardware makes per second to validate transactions and add…

With decentralized exchanges and lending platforms continuously pulling in high fees, the decentralized finance (DeFi) sector continues to expand. The growing DeFi sector is attracting both retail and institutional players looking for innovative ways to manage and grow their assets. TOP 10 PROJECTS BY 7D AVG. FEES #Uniswap – $2.4M #Aave – $1.0M #KyberNetwork – $297.3K #Sky – $262.0K #Sushi – $51.5K #Curve – $47.0K #GMX – $38.5K #Synthetix – $19.2K… pic.twitter.com/0n0iH66sSX — PHOENIX – Crypto News & Analytics (@pnxgrp) September 19, 2024 Uniswap continues to lead all projects in (DeFi), with average earnings from fees of $2.4 Million over…

Tether (USDT), the world’s largest stablecoin issuer, has announced a remarkable profit of $5.2 billion for the first half of the year; market indicators suggest this could be bullish for Bitcoin’s short-term price action and long-term prospects. Tether Posts Record-Breaking H1 2024 Performance On July 31, 2024, Tether released an official attestation reports showing a record-Breaking $5.2 billion gains for H1 2024. This remarkable H1 performance includes a substantial $1.3 billion in net operating profits generated during the second quarter alone. In an impressive display of financial acumen, Tether’s ownership of U.S. Treasuries has surged to unprecedented levels. The firm’s…