Author: NBTC
After breaking the July 25, 2024 record on Saturday, Sept. 7, Bitcoin’s hashrate has kept climbing, now reaching an impressive 692.28 exahash per second (EH/s) on Sept. 8, which is more than 13 EH/s above the previous level. Bitcoin Smashes Another Hashrate Record, Climbing 66 EH/s in a Week On Sunday, Sept. 8, 2024, Bitcoin’s total hashrate spiked to an impressive 692.28 EH/s, edging ever closer to the 700 EH/s milestone. This marks yet another all-time high for Bitcoin’s network this week. Throughout 2024, the network has experienced a significant boost in computational power, climbing from 393 EH/s to its…
The latest Trump family business venture — originally pitched as a DeFi platform dubbed “The Defiant Ones,” but has since been rebranded as World Liberty Financial — is fraught with controversy just days after it was unveiled. While Trump’s eldest sons, Eric Trump and Donald Trump Jr., are “ambassadors” of World Liberty Financial, CoinDesk reports that the once “Defiant” company is also linked to individuals involved in liquidity protocol Dough Finance. Recall how Dough Finance lost $1.8 million in Ethereum (ETH) and USD Coin (USDC) to a flash-loan attack on July 12. Zachary Folkman and Chase Herro – the duo…
Meta’s year-to-date (YTD) gains are closing in on Bitcoin’s, while Ethereum is struggling in 2024, according to Ecoinometrics data. BTC has shown a relatively stable YTD return of approximately 38% since the start of the year. Meta Emerges as Bitcoin’s Top Competitor Despite its steady progress since March, the cryptocurrency lacks a catalyst for a major breakout. This consistent but unspectacular trajectory has left it vulnerable to competition as other assets make gains. Meta, in contrast, has had a stronger year, with a YTD return of 48%. The company’s recent market momentum has narrowed the gap with Bitcoin, positioning Meta…
The Cardano network saw a notable increase in its “power users” in Q2, 2024, Messari’s recent report, “State of Cardano Q2 2024,” indicated. The ratio of transactions to active addresses (txs/DAAs) climbed 8.4% QoQ to 1.62, indicating an increase in “power users” of Cardano. However, most financial, network and ecosystem indicators for Cardano fell in the second quarter of 2024. Cardano’s average daily transactions (txs) plummeted 27.5% from the previous quarter to 51,400, while average daily active addresses (DAAs) fell 33.2% to 31,800. State of Cardano (Q2 2024) 🔵• ADA Price ⬇️ 39.7% to $0.39• TVL (USD) ⬇️ 41.2% to…
A crypto analyst has maintained a bullish outlook on Bitcoin (BTC), the world’s largest cryptocurrency, predicting massive rallies in the future. The analyst projects that Bitcoin could rise as fast as it fell, mirroring the speed of its crash as it regains all the value shed during its decline. Bitcoin Set For Rapid Recovery In an X (formerly Twitter) post on August 6, a crypto analyst identified as ‘The Crypto Dog’ has shared an optimistic forecast on the future outlook of Bitcoin. The analyst believes that Bitcoin may recover quickly from its recent market declines, highlighting that the pioneer cryptocurrency…
While the FED is expected to cut interest rates to boost Bitcoin (BTC) and altcoins, it is almost certain that a rate cut will be made in September. While the dilemma here is whether to cut by 25 or 50 basis points, the JP Morgan economist argued that the FED will cut interest rates by 50 basis points in September. Speaking on CNBC’s Squawk Box, JP Morgan chief economist Michael Feroli said the Fed should cut interest rates by 50 basis points at its September meeting. Feroli said he believes the central bank’s policy rate should be around 4%, which…
IOTA has completed the final phase of the European Pre-Commercial Procurement project, laying the foundations for a scalable, secure, and sustainable blockchain that can support the digital infrastructures of the European Union (EU). Let’s see all the details below. Completed the pre-commercial procurement: IOTA’s blockchain ready to support the EU digital infrastructure Collaborations and some statements Digital development, AI and criticism Completed the pre-commercial procurement: IOTA’s blockchain ready to support the EU digital infrastructure As anticipated, the IOTA Foundation has recently announced the completion of the final phase of the European Pre-Commercial Procurement (PCP), marking an important step forward in…
Bitcoin price gained pace for a move above $58,000 and $60,000. BTC is up over 10% and is signaling more upsides in the near term. Bitcoin started a decent increase above the $56,500 and $58,250 levels. The price is trading above $60,000 and the 100 hourly Simple moving average. There is a connecting bullish trend line forming with support at $60,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might eye more upsides above the $62,500 resistance zone. Bitcoin Price Could Extend Gains Bitcoin price started a decent increase above the $55,500 resistance zone.…
As the downward trend in the leading cryptocurrency Bitcoin continues, the price dropped to the $ 56,000 levels. While analysts state that the downward trend in Bitcoin may continue, all eyes on BTC and altcoins are now turned to the economic data to come from the USA. The data announced on the first Friday of each month is closely followed by investors and interested parties to understand the state of the economy. The data disclosed is as follows: Nonfarm Payrolls Data: 142k Announced vs. 164k Expected vs. 114k Previous Unemployment data: Announced 4.2% – Expected 4.2% – Previous 4.3% Bitcoin’s…
Dog-themed cryptocurrency Shiba Inu (SHIB) has experienced a 1,115% surge in large holder netflows, an indicator that provides an idea of the change in positions of whales in a given time period. According to IntoTheBlock data, Shiba Inu (SHIB) is reflecting a 1,115% surge in large holder netflows over the last seven days. However, the spike carries a notable twist: the increase in netflows is a negative one, signaling that instead of accumulating more SHIB, whales might be reducing their positions or selling. This tendency comes as Shiba Inu faces profit-taking alongside the broader crypto market. Shiba Inu dipped after…