Author: NBTC

Chris Li predicts blockchain will shift from horizontal to vertical scaling soon. Vertical scaling could enhance efficiency in online casinos and improve user experience. Advanced solutions like atomic swaps may replace wrapped assets, preserving decentralisation. Chris Li, a former Microsoft engineer and the founder and CTO of Ava Protocol, has made a bold prediction for the future of blockchain technology. According to Li, the focus of blockchain development is set to shift from horizontal scaling towards vertical scaling within the next five years. This transition is anticipated to redefine how various industries utilise blockchain technology, particularly in terms of efficiency,…

Bitcoin price failed to recover above the $62,500 resistance zone. BTC is showing bearish signs and might decline again below the $60,000 support. Bitcoin struggled to recover above the $62,200 and $62,500 levels. The price is trading below $62,000 and the 100 hourly Simple moving average. There is a major 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 start another decline unless there is a close above the $62,000 resistance zone. Bitcoin Price Remains At Risk Bitcoin price started a recovery wave above the $61,200…

Ethereum’s price has been going through a frustrating consolidation period over the past few months following the price’s failure to break above the $4,000 resistance level. Technical Analysis By TradingRage The Daily Chart On the daily chart, the price has recently rebounded from the $2,800 mark and rallied toward the $3,500 resistance level. However, the latter has rejected the price to the downside. The market has also dropped below the 200-day moving average, located around the $3,200 mark. At the moment, ETH is trading below the $3,000 support level and could decline even further in the short term. The 4-Hour…

Today, enjoy the Lightspeed newsletter on Blockworks.co. Tomorrow, get the news delivered directly to your inbox. Subscribe to the Lightspeed newsletter. Howdy! My bike got stolen from in front of my apartment last night, which — and I promise this isn’t just me coping — I had kind of been hoping would happen, because the bike literally doesn’t have brakes and its seat was stuck at the lowest height. So, your ill-gotten new bike sucks. Get pranked, thief. Anyways: Raydium leads the way as Solana DeFi volumes grow Solana DeFi is ascending to new heights — and it’s still memecoins…

Pro-XRP lawyer Bill Morgan reacts to Uphold co-founder J.P. Theriot’s decision to support Kamala Harris ahead of the upcoming U.S. presidential election. Uphold Founder Officially Supports Kamala Harris Theriot took to X yesterday to back Harris, making him the first crypto exec to endorse the Democratic Party’s presidential candidate. In the lengthy X thread, Theriot contended that former U.S. President Donald Trump’s promises for the crypto sector are empty. Conversely, the Uphold director stated that Harris has good prospects of understanding the emerging technology, given that she is two decades younger than Trump and Joe Biden. Notably, he emphasized that…

Haust Network uses Polygon’s Chain Development Kit and zk-rollup technology. The AggLayer integration allows Haust Network to connect with multiple blockchains for efficient and low-cost transactions. Haust Network will integrate with the Polygon Chain Development Kit (CDK) to advance its Layer 2 Ethereum scaling solutions, according to a recent announcement. This partnership utilizes zk-rollup technology to boost transaction throughput and lower costs while ensuring robust network security. https://Twiter.com/0xPolygon/status/1819110730802635148 Haust Network also has incorporated Polygon’s CDK, which is a popular Layer 2 solution for Ethereum scaling based on zk-rollup. This approach increases the number of transactions per unit of time and,…

In the crypto ecosystem, pinpointing the exact moment Bitcoin (BTC) prices bottom out is akin to finding a needle in a haystack. Recent data, however, provides some insights into whether the Bitcoin price has bottomed. As the digital currency touched a one-month low of $58,500, analysts from CryptoQuant and Glassnode revealed four crucial on-chain indicators to watch. These indicators could be useful for analyzing market behaviors near the low points and understanding the conditions necessary for prices to rebound and rise again. 1. Tracking Bitcoin Demand Growth The first quarter of 2024 saw a remarkable surge in Bitcoin demand coinciding…

On Friday, U.S. spot ethereum exchange-traded funds (ETFs) faced $54.27 million in outflows, a stark contrast to Thursday’s net inflow of $26.7 million, as indicated by recent data. Meanwhile, Grayscale’s Ethereum Trust (ETHE) has seen a reduction of over $2 billion in ethereum since July 23. U.S. Ether ETFs Shed $54.27 Million on Friday The outflow trend continued on Friday, following Thursday’s inflows. The nine ether ETFs have recorded three days of inflows and six days of net outflows in total. Friday’s $54.27 million outflow brought the cumulative decline since July 23 to $510.7 million, with Grayscale’s ETHE contributing the…

Centralized exchange Crypto.com accidentally refunded a man $6.8 million (approximately $10.47 million Australian dollars) instead of $65. He then withdrew and spent the money. Now, three years later, he pled guilty alongside his partner for theft of $4.42 million, as reported by NewsWire. Jatinder Singh tried to deposit $65 into his Crypto.com account back in May 2021 using his partner’s bank account. Due to the name discrepancy between the exchange and bank account, Crypto.com rejected the deposit. Instead of simply refunding the $65 to his bank account, the exchange employee made a “significant account mistake” and typed in the account…

After peaking at 677 exahash per second (EH/s) on July 25, Bitcoin’s network hashrate declined to 629 EH/s as of Aug. 4. The recent uptick in Bitcoin’s mining difficulty, coupled with the subsequent drop in its price, has driven bitcoin mining revenue to record lows. Monthly Bitcoin Fee Revenue Drops 75%, Hashrate Slides 48 EH/s Bitcoin miners are facing considerable challenges as revenues have diminished since the fourth block reward halving. In early August, the hashprice—the estimated daily earnings per petahash per second (PH/s)—dropped to a record low of $42.78 per PH/s on Aug. 4, 2024. This decline followed a…