On Thursday, bitcoin (BTC) soared to a peak of $63,882, marking a 7.8% increase against the U.S. dollar over the past month. During this same period, approximately $6.36 billion worth of BTC was pulled from crypto exchanges, hitting levels not seen since early November 2018. More Than 100,000 Bitcoin Removed From Digital Currency Trading Platforms…
Read more
The next Bitcoin halving is on the horizon, drawing closer with each passing block and anticipated to take place anywhere between April 18 to April 22, 2024, at the milestone of block 840,000. Following this event, the reward for mining a block will halve from 6.25 bitcoins to 3.125 bitcoins. The following is a thorough…
Read more
In a recent “Blockchain Letter” to investors, published on August 22, Pantera Capital — a venture capital firm headed by Dan Morehead — has projected that the price of bitcoin (BTC) could soar to $147,843 per coin following the 2024 halving. The firm employed the stock-to-flow (S2F) ratio as a price model to evaluate and…
Read more
Over the last six months, the value of an ounce of gold has witnessed a 3.8% surge in relation to the U.S. dollar. Within the realm of cryptocurrencies, there exist two noteworthy tokens backed by gold: pax gold (PAXG) and tether gold (XAUT). Together, these tokens amass a considerable worth of nearly $1 billion. Although…
Read more
Discover how a reduction in supply affects the price of Bitcoin, and how market participants perceive and react to halving events in the dynamic cryptocurrency market. Bitcoin (BTC), the pioneering cryptocurrency that sparked a global revolution in digital assets, operates on a unique monetary policy. One of the defining features of Bitcoin is its halving…
Read more
According to current statistics, the Bitcoin network is fewer than 56,000 blocks away and less than 400 days away from the next reward halving. After the next halving, the block reward will be reduced by 50%, and the current block subsidy of 6.25 bitcoins will drop to 3.125 bitcoins per block post-halving. In addition to…
Read more
Non-fungible token (NFT) assets have existed since at least 2014, but interest in them began to rise in January 2021, according to Google Trends data. Approximately one year later, the search term “NFT” reached its highest score on Google Trends. During that time the top five NFT collections, in terms of all-time sales volume, have…
Read more
This week, FTX debtors issued a press release and a 20-page document noting that bankruptcy administrators had located $5.5 billion in liquid assets. The document details that investigators discovered fiat currencies, crypto assets, and securities as part of FTX’s and Alameda Research’s cache. However, the disclosure to unsecured creditors does not mention the extremely large…
Read more
Following the launch of Donald Trump’s non-fungible token (NFT) card collection, winners of the Trump-themed prizes are selling prize NFTs on secondary NFT marketplaces such as Opensea. The Polygon-minted NFTs act as passes for a one-on-one Zoom meeting with the 45th president of the United States and a gala dinner with Trump. During the past…
Read more
Bitcoin Records Largest Mined Block to Date, 4 MB Block Containing NFT Causes Unease Among Small-Block Supporters
Amid the controversy surrounding the Ordinals project and the debate over what types of data should be stored on the Bitcoin blockchain, the network mined its largest block, nearly 4 MB in size, containing just 63 transactions. One of the transactions was a 3.94 MB Ordinal inscription featuring an image of a wizard, and the…
Read more