Author: NBTC
According to a recent report by Fortune, which cites data from prominent blockchain sleuth Chainalysis, roughly 1.8 million ($121 billion) of Bitcoin is stored in wallets that have been inactive for more than a decade. Dormant coins account for 8.5% of Bitcoin’s 19.7 million circulating supply. It is unclear what percentage of cryptocurrencies is lost forever, but the report suggests that the total number of such coins should stabilize around 1.5 million. Earlier this month, for instance, a Satoshi-era whale woke up after an entire decade of inactivity with $115 million. When wallets become active again after a long period…
It’s been roughly four days since Bitcoin (BTC)’s fourth halving event occurred, and market watchers have amassed enough data to give an early verdict on its effects. For one, Bitcoin’s supply inflation rate has collapsed, as expected. Each Bitcoin block—mined roughly once every ten minutes—now produces just 3.125 new BTC, half of its former 6.25 BTC block subsidy. Before the halving, 900 BTC was generated daily, fueling a 1.7% inflation rate. The new figures are roughly equivalent to 450 BTC per day, and an annual inflation rate of 0.85%. According to a new report from Glassnode, these metrics place the…
Bitcoin is in a downward trend as it has failed to surpass the specified resistance levels. If the BTC price cannot close above the $66,700 resistance, the decline may continue. Long-term investors can observe for a decline in the specified support range and look for suitable buying points. Bitcoin is showing a downward trend due to its inability to surpass certain resistance levels, yet long-term investors may seek buying opportunities using the specified support ranges. MEDIUM TERM BTC ANALYSIS 8-Hour BTC/USD Price Chart Looking at the 8-hour technical chart of Bitcoin, it can be seen that a decline occurred due…
As March nears its end, XRP investors are observing with optimism as the cryptocurrency maintains a value of $0.64, marking a nearly 10% increase for the month. With this achievement, attention naturally turns to April, prompting speculation regarding the trajectory of this popular digital asset. Analysis of historical data suggests a potential 30% surge for XRP in April. According to insights derived from CryptoRank, April historically demonstrates a favorable performance for XRP, with an average monthly return of 31%. However, for those inclined toward a more conservative estimate, the median monthly return stands at a noteworthy 2.05% increase. A retrospective…
Bitcoin’s value fell by 6% in April, diverging from traditional safe-haven assets like gold and the US Dollar, which experienced a rally amid the Middle East conflict escalation. According to a report by on-chain analysis firm Kaiko, the halving event and its usual volatility are among the factors influencing this trend. Despite Bitcoin’s previous surges in response to the US banking crisis and Russia’s invasion of Ukraine, its reaction to other significant events such as the Hamas attack on Israel was negligible. Moreover, performance as a safe-haven asset is inconsistent across different fiat currencies, with currency devaluation often prompting increased…
The Ethereum network has recently experienced a significant decrease in the amount of ETH burned daily, reaching its lowest level this year. This trend was primarily driven by the recent decline in average gas fees. Ethereum’s Low Gas Fees Push ETH Burn Rate to Lowest Level in Year Currently, gas fees hover between 5 and 10 gwei, marking one of the lowest levels ever seen. This decrease in network fees directly affected ETH issuance and resulted in less ETH being burned. On Sunday, the amount of ETH burned was only 610 ETH, marking a record low for this year as…
General Updates Neo witnessed the launch of new memecoins with liquidity pools for the tokens added to Forthewin Network. Three new coins were listed on the non-custodial exchange, including Ape Coin and Schrute Bucks, released by pseudonymous founders, and The Hongfei, launched by Forthewin Network’s founder Ed. Ape Coin and Schrute Bucks tokens are paired against GAS, and The Hongfei token is paired against GAS and bNEO. At the time of press, more than 5,700 GAS in liquidity exists between the three new pools. Frank Coin hosted a livestream to showcase the Pixudi and World of Elements games, and distributed…
Artificial intelligence (AI) chatbots have become popular tools for everyday use in various tasks, from hobbyists to professionals. For this report, Finbold once again exclusively talked to the creator of a pay-per-use AI platform that accepts cryptocurrency payments. In particular, we explored PayPerQ, or PPQ.AI, created by Matt Ahlborg, who answered a few questions about his endeavor. Essentially, the tool takes Bitcoin (BTC) payments through the Lightning Network to access paid APIs of ChatGPT-4, Claude 3 Opus, Dall-E 3, and others. “I want PPQ to be a way for normal people to start getting away from annoying subscriptions!” – Matt…
Former U.S. president Donald Trump’s $454 million bond just got reduced to $175 million in an appeal. But the most prominent of the many meme coins using his likeness appeal to be cooling off following the news. As markets opened in New York, an Ethereum-based MAGA meme coin—one of many to use the TRUMP ticker—started to lose steam. Early Monday morning, it traded as low as $4.95 and saw a 5.5% drop in an hour. But at the time of writing, it’s trading for $5.09 and is down 11% after setting a 24-hour high of $5.74 overnight according to CoinGecko…
The fourth halving occurred successfully in the leading cryptocurrency Bitcoin over the weekend. While mostly short-term expectations and targets continue to be shared for BTC after the halving, Bitwise CIO Matt Hougan announced his long-term expectations. Matt Hougan made five predictions for Bitcoin ahead of its next halving, which is expected to occur in April 2028. In a recent note to clients, Bitwise CIO explained that he expects lower volatility ahead of the 2028 halving and in the coming years, increased portfolio allocations and higher spot ETF flows for BTC, central bank support, and a price above $250,000. “Spot BTC…