Author: NBTC

Stablecoin issuer Tether has expanded its mining endeavors by collaborating with Swan’s Managed Bitcoin Mining service. According to the press statement, the firm has dedicated an undisclosed amount of substantial capital to establish its Bitcoin mining operations through Swan. Swan’s Managed Bitcoin Mining allows institutional investors to commit a minimum of $100 million to the Bitcoin mining ecosystem. Through the service, the firm plans to offer bespoke mining operations tailored to the specific needs of its clients. Since August 2023, Swan Mining has spent over $330 million to increase its mining capacity to 7.5 EH. However, plans are to increase…

In a significant enhancement to its digital asset management services, OKX, a prominent Web3 technology firm, announced on May 8, 2024, the full integration of its OKX Wallet with OpenStamp. This development marks a significant step forward in user accessibility and functionality, allowing for a seamless connection to OpenStamp’s diverse suite of services directly from the OKX Wallet web extension. OpenStamp is renowned for its comprehensive platform that amalgamates SRC20 inscription trading, NFT trading, and various launch platforms. By integrating with OpenStamp, OKX Wallet users can now easily navigate these features through web extensions available on both Chrome and Firefox…

Bitcoin and ethereum have recaptured some of their losses from the previous week, but a group of crypto assets have seen their values climb by double digits in the last seven days. About nine cryptocurrencies experienced increases of 20% or more, with ondo (ONDO) leading the charge with a 94% leap this week. The Week’s Biggest Crypto Gainers and Losers Currently, the crypto market stands at a valuation of $2.59 trillion, marking a 3.95% uptick in the past day. Today’s highest trading volumes, aside from BTC, ETH, and stablecoins, feature coins like SOL, BNB, XRP, BCH, and AVAX. While bitcoin…

North American bitcoin miner, Hut 8, said it mined 148 bitcoins, or 36% coins less in April than it did in March. Hut 8 primarily attributes the decrease in the number of mined bitcoins to the relocation of its proprietary miners, which were previously hosted at the Kearney and Granbury sites. The Halving Effect Hut 8, one of North America’s largest bitcoin miners, recently disclosed that its proprietary production for April fell by 36% to 148 bitcoins (BTC). The miner’s output for April suggests a realized hashrate of 3.44 EH/s, which is 51% lower than the 6.27 EH/s achieved in…

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…