Author: Maria
The Bitcoin (BTC) market has been significantly disturbed over the last 24 hours following a series of troubling news reports. During this period, the crypto market leader has recorded notable downfalls with its price slipping below the $66,000 price mark. However, a crypto analyst with X username Luca has postulated this recent price decline can be attributed to another factor beyond the news events. Bitcoin Crash Due To Overleveraged Market, Not News Event: Analyst On Friday, the Wall Street Journal reported that Tether was under investigation by US authorities over potential illicit use of the USDT stablecoin in money laundering,…
The Bitcoin price has slowed down over the last few days, crashing to around $65,500 on the morning of Saturday, October 26. The premier cryptocurrency has not particularly impressed in the historically bullish month of October, but the next few days could be pivotal to the coin’s future trajectory. Having seemingly established support in the $65,000 region, the BTC price appears to be gearing for a run to the upside and potentially resuming the bull cycle. A popular crypto pundit on the social media platform X has sketched the possible route of the market leader to a new all-time high.…
Bitcoin mining, a complex activity that requires adding data to the blockchain, has been the subject of complaints. While it’s arguably a lucrative trade for some, it impacts the local electricity grid. Some estimates say you need up to 155,000 kilowatt hours (kWh) of electricity just to mine one coin, and each transaction requires around 851 kWh, equivalent to one month’s electricity supply for an average household in the US. Bitcoin mining’s threat is global, with many national and local economies feeling the pinch. For example, Tenaga Nasional Berhad, Malaysia’s national electricity provider, has reported losses of more than 440…
The Bitcoin open interest has been a subject of debate over the past week, with various on-chain platforms revealing its recent record-breaking surge. However, investment analytics firm Alphractal disputed that the open interest in BTC had reached a new all-time high. Interestingly, a prominent crypto analytics platform has put forward new data on the Bitcoin open interest, disclosing that this indicator indeed forged a record high over the past week. Here is its potential implication on the price of BTC. Are Bitcoin Traders Taking More Risk? In a new post on the X platform, Glassnode revealed that open interest in…
The Bitcoin and Ethereum price have crashed in the last 24 hours, dropping below $67,000 and $2,500, respectively. This price crash came following news about the alleged investigation into the USDT issuer Tether. Meanwhile, Israel’s attack on Iran was also a contributory factor. Why The Bitcoin And Ethereum Price Crashed The Bitcoin and Ethereum price crashed below $67,000 and $2,500 following the Wall Street Journal’s report that the US Department of Justice (DOJ) had launched an investigation into the crypto firm Tether. US federal investigations are allegedly investigating the stablecoin issuer for possible violations of sanctions and anti-money laundering rules. …
The Dogecoin price is currently trading at $0.14, but not for long. According to a crypto analyst, technical analysis indicates Dogecoin is gearing up for a move towards $0.68. This interesting outlook for the king of meme coin comes amidst increased activity in its ecosystem, which suggests a large price move could be on the horizon. According to technical analysis by crypto analyst Dave The Wave using technical indicators, including the Fibonacci retracement, Dogecoin is currently looking bullish and is on the way to challenging its all-time high. Dogecoin Price Action Prints Bullish Dave the Wave, a well-known crypto analyst…
Vietnam has taken a significant step towards advancing its blockchain ecosystem by releasing its National Blockchain Strategy. The strategy, announced by the Ministry of Information and Communications (MIC) on October 23, outlines a roadmap for the country’s development of a decentralized network and aims to position Vietnam as a “regional leader” in the sector. The strategy aligns with the goals of the Fourth Industrial Revolution, a global initiative to integrate major technologies into economies. Legal Frameworks And Digital Asset Recognition As disclosed in the report published earlier today, the strategy by Vietnam lays out five core focus areas overseen by…
A former Bitcoin developer refuted allegations that he is the real Satoshi Nakamoto, creator of Bitcoin, after an HBO documentary pinpointed him as the Bitcoin mastermind. Peter Todd, who claimed the documentary falsely identifies him as Satoshi, believed that it is pointless to know who the Bitcoin founder is, considering Bitcoin has thrived despite the founder’s true identity, which remains shrouded in mystery. ‘A False Claim’ Todd criticized the documentary’s filmmaker for accusing him of being Satoshi, saying that it is a false claim. He lamented that the film put him in the spotlight of public scrutiny despite his constant…
After years of refinement, Ethereum, the world’s largest smart contracts platform, is scaling. However, it does not scale in the way most decentralization purists desire. The network, trying to accommodate all its users, now relies mainly on off-chain solutions using roll-up techniques to process more transactions and relieve the mainnet. The Ethereum Layer-2 Boom The result has seen a boom with layer-2 platforms. According to L2Beat, all these off-chain solutions scaling Ethereum manage over $37 billion worth of assets. The largest of them all is Arbitrum, which controls more than $13 billion. Despite the boom, the question of decentralization still…
The remarks made by a popular executive from a Bitcoin development company, advocating for large financial institutions to take custody of Bitcoin, disappointed the cryptocurrency community. MicroStrategy CEO Michael Saylor is now at the center of strong criticisms after saying that it would be better for Bitcoin to be in the custody of “too big to fail” banks than self-custody. The Contentious Remark Saylor, in a podcast interview, dissuaded investors and traders from the Bitcoin self-custody approach while putting forward the idea of custodianship through large financial institutions like banks. He believes that large and established financial institutions can better…