Author: NBTC

According to recent data, bitcoin’s total hashrate achieved a record high this week, based on the seven-day simple moving average (SMA). On July 25, the hashrate, measured by the seven-day SMA, reached 677 exahash per second (EH/s), surpassing the 659 EH/s recorded on May 25. Bitcoin Hashrate Breaks Records Bitcoin’s hashrate has reached new peaks this week, coinciding with an increase in the price of the leading crypto asset over the past seven days. Data from Luxor’s hashrateindex.com indicates that on Thursday, July 25, 2024, the hashrate reached 677 EH/s, approximately 18 EH/s higher than the 659 EH/s recorded on…

Bitcoin price failed to continue higher above the $63,650 resistance zone. BTC is now correcting gains and might revisit the $60,850 support. Bitcoin started a downside correction from the $63,650 resistance zone. The price is trading below $62,500 and the 100 hourly Simple moving average. There is a connecting bearish trend line forming with resistance at $61,850 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might struggle to start a fresh increase above the $62,250 resistance zone. Bitcoin Price Dips Again Bitcoin price struggled to extend gains above the $63,650 and $63,800 resistance levels.…

Slowly, and then all at once seems to be an apt way to describe the pace with which crypto ETFs have come to the U.S. marketplace. Following the approval of 11 spot bitcoin ETFs in January, July has seen the approval of 8 spot ether ETFs, potentially opening the spigot for fresh investment and adoption of the cryptoasset. While significantly smaller in market capitalization than bitcoin, the fact that the Ethereum Ethereum blockchain serves as a foundational layer for many newer blockchain applications creates a different opportunity for investors and policy advocates. These estimates have so far proven accurate, with…

HNT was beaten only by dogwifhat over the past seven days. Helium Network is a strong example of a real-world use for blockchain technology, according to one observer. Helium Network’s HNT token has chalked out a market-beating rally amid the growing adoption of the wireless phone service Helium Mobile. HNT’s price has surged over 40% to $5 in seven days, placing it at the No. 2 spot on the list of the biggest gainers among the top 100 coins by market value, just behind the meme coin dogwifhat (WIF), according to data source Coingecko. Bitcoin (BTC), the biggest cryptocurrency by…

At the Bitcoin 2024 conference in Nashville, the Chinese bitcoin application-specific integrated circuit (ASIC) manufacturer Microbt introduced its new line of M6XS+ miners. These miners offer a hashrate ranging from 190 terahash per second (TH/s) to 450 TH/s, with an efficiency of 17 joules per terahash (J/T). Microbt Reveals Cutting-Edge Whatsminer Rigs Microbt, the developer of the Whatsminer bitcoin miners, unveiled four new mining rigs at the Nashville event. Dr. Yang Zuoxing, the company’s founder and CEO, showcased the air-cooled Whatsminer M60S+, which can achieve a hashrate of 190 to 210 TH/s. The Microbt hydro-cooled M63S+ reportedly reaches between 390…

A widely followed crypto strategist believes that Bitcoin’s (BTC) long-term upside potential is unlimited despite its recent price doldrums. Pseudonymous analyst Pentoshi tells his 801,000 followers on the social media platform X that while he’s bullish on Bitcoin for the long haul, the crypto king may see a significant correction before heading higher. “For BTC, I wanted to start off with what I view to be the worst-case scenario. Let’s say, $48,000-$51,000, essentially 20-25% lower. And in this scenario, people should get more bullish the lower it [goes] because the upside becomes greater. But again, let’s call that max drawdown.…

Solana (SOL) whales are making big moves today. While the price of SOL has remained bullish in the past few days, it appears that some large holders have started to take profits. Whale Alert detected a potential sell-off earlier today. According to the details, this whale transferred 196,068 SOL from its wallet to crypto exchange Binance. This transaction is estimated to be worth around $35.16 million. While Whale Alert has not revealed if the whale has sold it or still held it on Binance, this is likely to be a sell-off. Crypto whales usually transfer their holdings to a crypto…

Bitcoin and major cryptocurrencies experienced sharp declines during Asian trading hours, reversing gains made earlier in the week. The price drop was attributed partly to concerns of large BTC sales from the defunct Mt. Gox exchange, which is set to distribute assets stolen in a 2014 hack later this month. One trader continues to predict a BTC price of $150,000 this year, despite the short-term turbulence. Bitcoin (BTC) led declines in Asian trading hours as major tokens wiped out gains made at the start of the week. BTC dropped to $60,900 from over $62,000 shortly after Tokyo markets opened, with…

The Tron blockchain network has reached a significant milestone of over 245 million total addresses, reflecting its growing adoption and usage. Tether’s stablecoin USDT dominates network activity on the Tron blockchain, accounting for 99% of total transfers by the top 10 contracts in June 2024. The Tron blockchain network continues to hit new milestones showing the growing adoption of its blockchain and popularity. Popular X handle TRONSCAN recently published an update regarding the Tron blockchain highlighting the latest achievement of the network. According to a tweet, Tron’s total number of addresses has surpassed 245 million. This significant milestone reflects the…

CryptoQuant, a leading cryptocurrency analysis firm, recently shared its views on the current state of the Bitcoin market. Over the past two years, the Bitcoin market has experienced a significant increase, which has also affected the prices of other cryptocurrencies. This period has been more promising compared to the bear market in 2021 and 2022. To predict the current state of the Bitcoin market, CryptoQuant analysts resorted to one of the most effective modern tools, the 60-Day Realized to Market Value Variance (RCV) metric. This metric measures the two-month change in Bitcoin’s cap relative to its market cap, making it…