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Crypto News

Remarkable Triumph: Reddit Collectibles Skyrocket with Nearly 10 Million Holders

The success of Reddit collectibles on the pro-blockchain social platform is evident, with a large and enthusiastic community embracing the series of non-fungible tokens (NFTs). Launched in July 2022, these unique and affordable NFTs are securely stored on Polygon (MATIC), a trusted blockchain platform. Astonishingly, almost 10 million Reddit accounts currently hold NFTs, contributing to a market capitalization of $38 million. Notably, collections like The Senses, poieeeyee, and Foustlings have achieved impressive sales surpassing $1 million each, as reported by blockchain data analytics firm DuneAnalytics.

dailycoin - 1183 ngày trước

Crypto Exchanges Becoming Key Players in Russia's Cross-Border Transactions

Russia is exploring the possibility of using cryptocurrency exchanges for cross-border transactions, a departure from previous plans for a state-run cryptocurrency exchange. The country's Ministry of Finance is now backing a new framework that would establish rules for the use of crypto exchanges in cross-border settlements. Anatoly Aksakov, head of the State Duma committee on financial markets, confirmed the intention to adopt this framework. The Ministry of Finance aims to ensure proper and comprehensive regulation of cryptocurrencies, according to Ivan Chebeskov, director of financial policy.

CoinJournal - 1184 ngày trước

Bitcoin Mining Community Relieved as Biden's 30% Tax is Abandoned in Debt Ceiling Agreement

Ohio lawmaker Warren Davidson announced that the Biden administration's proposal to impose a 30% tax on Bitcoin mining has been put on hold in the recent debt ceiling deal. The controversial Digital Asset Mining Energy (DAME) tax, intended to tackle the environmental consequences of crypto mining, received criticism from the industry, with concerns that it would push mining operations overseas. Although the tax has been temporarily blocked, it is anticipated that the White House will explore other means to reintroduce the bill, emphasizing the need to address the societal costs associated with mining.

thestreet - 1184 ngày trước

Dogecoin Outperforms Ethereum in Transaction Volume Battle

In the past week, Dogecoin has outperformed Ethereum and Bitcoin in terms of transaction volume. With over 9 million transactions, Dogecoin has surpassed Ethereum's 6 million transactions and Bitcoin's 3.3 million transactions. This surge can be attributed to the implementation of DRC-20 tokens, inspired by Bitcoin's BRC-20 tokens, which allow for the creation and trading of tokens on the Dogecoin blockchain. However, some community members are concerned that this increased activity may lead to network congestion, undermining Dogecoin's objective of being an efficient and cost-effective transaction method.

CryptoSlate - 1184 ngày trước

Dormant Ether Wallet Comes Alive, Transfers $14.7 Million Worth ETH

An Ether wallet that had been inactive since 2015 suddenly came to life, moving 8,000 ETH in just two minutes. The wallet received the ETH during Ethereum's ICO in 2015 and remained dormant until recently. The owner cautiously transferred 1 ETH to a new wallet and then moved the remaining 7,999 ETH. The transaction was noticed by a blockchain analytics service, sparking speculation about the reason for the transfer. The 8,000 ETH, initially worth $2,500, is now valued at approximately $14.7 million, representing a massive 590,000% gain for the owner.

cointelegraph - 1184 ngày trước

Dormant Ether Wallet Comes Alive, Transfers $14.7 Million Worth ETH

cointelegraph - 1184 ngày trước

VanEck Signals Growing Possibility of Ethereum (ETH) Hitting $51,000

VanEck, a global investment manager, has released a research report outlining different scenarios for Ethereum's future performance. They predict that if Ethereum becomes the dominant global settlement network, it could reach $51,000 within seven years. In the bear case, where Ethereum loses dominance, the price could drop to $343.29 by 2030. VanEck also suggests a base case price target of $11,848.62 and a bull case of $51,006. The firm believes that Ethereum is evolving into a store-of-value asset, albeit in a different way than Bitcoin.

The Daily Hodl - 1185 ngày trước

Survey Reveals 84% of Voters Want Presidential Candidates to Back Bitcoin Rights

The approaching 2024 US presidential election intensifies the cryptocurrency debate, with candidates recognizing the importance of digital assets in the campaign. Voter interest in a candidate's position on Bitcoin suggests it could impact their voting decisions. In a Twitter poll by Michael Saylor of MicroStrategy, 84% of nearly 30,000 respondents expressed that they would require a presidential candidate to support their right to Bitcoin before earning their vote. This reflects the public's strong demand for candidates who actively advocate for Bitcoin's role in politics and the economy.

Finbold - 1185 ngày trước

Ethereum on Exchanges Drops to Only 15% of Total Token Supply

The balance of Ether (ETH) on centralized crypto exchanges has reached its lowest point in five years, according to data from Glassnode. Currently, there are 17.8 million ETH on exchanges, representing less than 15% of the total token supply and a significant decrease from the 26% recorded during the 2021 bull market. This trend is considered bullish as it indicates limited supply available for purchase. The decline in exchange balances coincides with a rise in staking, with over 21.3 million ETH staked since the Shapella upgrade, triggering a decline in token supply.

CryptoPotato - 1186 ngày trước

Federal Reserve Acknowledges Growing Significance of Cryptocurrencies, Including Ripple's XRP

The Federal Reserve of the United States has officially recognized cryptocurrencies, including Ripple's XRP, according to a recent report. This recognition marks a significant milestone in the mainstream adoption of digital currencies and highlights their growing importance in the global financial landscape. The move by the Federal Reserve indicates a shift in attitude towards cryptocurrencies, signaling a greater acceptance of their role in the future of finance. This development could potentially lead to increased investment and integration of cryptocurrencies into traditional financial systems.

cryptonomist - 1186 ngày trước

Crypto News

Bitcoin Open Interest Surges by $1.8 Billion as Price Breaks $27,000

Bitcoin's Open Interest has surged by $1.8 billion as its price broke the $27,000 mark, indicating a strong influx of investor interest. Open Interest tracks the total value of Bitcoin futures contracts open on derivative exchanges, with rising figures signifying increased market activity and potential volatility. The recent jump from $11.04 billion to $12.81 billion suggests heightened trading and leveraged positions. The future direction of Bitcoin's price remains uncertain, with the surge potentially fueled by shorts covering positions or longs hoping for further gains. The funding rate suggests a balanced mix of long and short positions.

newsbtc - 1072 ngày trước

Bitcoin Poised for Parabolic Rise with Institutional Capital Inflow, Says Morgan Creek Capital Founder

Morgan Creek Capital founder Mark Yusko predicts a bright future for Bitcoin (BTC) as institutional capital worth hundreds of billions is expected to enter the market. Yusko points to Bitcoin's historical trend of adding a zero to its price following each halving event, with the next one slated for April 2024. He anticipates a 1.5x increase from the current all-time high, potentially reaching $100,000. Additionally, Yusko believes Bitcoin exchange-traded funds (ETFs) will be approved by late 2023 or early 2024, leading to a substantial influx of capital into the cryptocurrency.

The Daily Hodl - 1072 ngày trước

Citigroup Leads the Way with Permissioned Blockchain for Institutions

Citigroup has unveiled Citi Token Services, a permissioned blockchain platform designed for institutional clients, offering access to tokenized deposits, cross-border payments, and automated trade finance around the clock. This move aligns with Citigroup's goal of creating a 24-7, on-chain, programmable financial system. The partnership with Maersk enables instant payments through smart contracts, benefiting companies with numerous vendors. Citi Token Services also aids corporate treasurers in managing global liquidity more efficiently. Meanwhile, JPMorgan is reportedly still in the early stages of exploring a similar private blockchain service, lagging behind Citigroup's innovation.

Blockworks - 1072 ngày trước

Bitcoin Dominance Soars Above 50%, Emerging as the Crypto Safe Haven

Bitcoin is making a strong comeback, currently priced at $26,684 and holding over 50% of the total cryptocurrency market, boasting a market cap of approximately $520 billion. This milestone is significant as it contrasts with the stagnation or decline of many alternative cryptocurrencies (altcoins). Ethereum, the closest rival, sits at $1,632.09, with other altcoins showing modest gains or losses. Bitcoin's resurgence aligns with historical trends, often thriving during bear markets, cementing its status as a digital "safe haven." Despite gains, it remains below its peak dominance levels, but its return to prominence is noteworthy.

U.Today - 1072 ngày trước

Animoca Game Studio Pioneers Bitcoin-Backed Metaverse Token, Ushering in Bitcoin's Next Phase

Animoca Brands subsidiary Darewise Entertainment is set to introduce the first-ever metaverse token on the Bitcoin blockchain. The token is aimed at powering a comprehensive ecosystem for gaming, brands, and real-world experiences. This move represents a significant expansion of Bitcoin's capabilities beyond a store of value. The metaverse token will facilitate in-game assets and virtual lands for the Life Beyond metaverse project, marking a new era for Bitcoin. Darewise Entertainment is partnering with Horizen Labs to develop and expand the Ordinals ecosystem on Bitcoin, with more innovations expected in the coming months.

Bitcoin News - 1073 ngày trước