Author: finance
The scramble to legitimize Bitcoin as a strategic asset reserved at the state level is progressing at a steady pace, with considerable developments occurring in Utah. Representative Jordan Teuscher, under House Bill 230 (HB230), is steering this transformation. This bill, referred to as the “Blockchain and Digital Innovation Amendments,” won approval from the Senate Revenue and Taxation Committee on February 20th with a 4-2-1 vote. Having already gained the state House of Representatives’ approval, the legislation now awaits the scrutiny of the complete Senate with a second and third reading. If it successfully navigates these hurdles and secures a concluding…
In the tumultuous world of cryptocurrency, the memecoin Libra (LIBRA) has recently made headlines for its alleged connections to high-profile individuals and questionable business practices. Reports from crypto news outlet, The Big Whale, have suggested that the group behind Libra was discreetly developing a similar memecoin project in Nigeria. The project, which is believed to have reached advanced stages, has purported ties to the Nigerian presidential team and is now shrouded in uncertainty. The Aftermath of the Libra Memecoin Controversy Central to this controversy is the figure of Javier Milei, the President of Argentina, accused of advocating for Libra memecoin.…
As the wider cryptocurrency market continues to grapple with increased volatility, Bitcoin has been exposed to steady sell-offs from investors and traders in recent weeks. This has prompted a steep decline in Bitcoin’s price, pushing it towards the $93,000 support barrier. Nevertheless, recent shifts in market behavior suggest a return of bullish sentiment, as evidenced by lessened selling pressure. Bitcoin’s long-term holders are holding firm Despite the ongoing turbulence in the crypto market, CryptoQuant’s on-chain analyst, Axel Adler Jr., has identified a promising shift in the market sentiment towards Bitcoin. In a post on X (formerly known as Twitter), Adler…
In a noteworthy development in the realm of cryptocurrency, the New York Stock Exchange (NYSE) has put forward a proposal for a rule change. The proposed alteration aims at allowing the Grayscale Ethereum Trust (ETHE) and the Grayscale Ethereum Mini Trust (EZET) to stake their ETH assets. This rule change would enable the trusts to earn enriching rewards on their staked ETH, with the caveat that the assets continue to be under the supervision of their current custodian. Staking Possibilities for Crypto ETFs: A Grayscale Perspective Staking is a critical procedure in Ethereum’s proof-of-stake (PoS) model, offering holders a chance…
As we delve into the dynamic world of cryptocurrencies, we shall focus on the intriguing price movement of Dogecoin, a digital coin born as a meme with no shortage of surprises up its sleeve. Often at the center of attention due to its volatile nature, Dogecoin now finds itself at a vital junction as indicated by the Bollinger Bands on the TradingView platform. Let’s explore whether Dogecoin’s next move will be a thrilling breakout or a downward spiral, all the while enriching the piece with SEO-friendly language and structured headings. Exploring Dogecoin’s Struggle Against the Median Bollinger Band According to…
Delving into Glassnode’s most recent On-Chain analysis, it is suggested that Bitcoin (BTC) must stay above the Short-Term Holder (STH) cost basis to avert potential downward trends. The STH cost basis has traditionally been a vital indicator distinguishing the local bull and bear market phases, making it an important factor for observers to consider. Observing Bitcoin’s Relationship with STH Cost Basis Since February’s start, BTC has maintained a tight trading range between $93,000 and $98,000. Despite numerous significant global events, including proposed trade tariffs from former US President Donald Trump, Bitcoin has managed to weather these storms. However, Bitcoin is…
As a fresh development in quantum computing technology emerges, there’s an escalating concern around the security of Bitcoin and its ability to withstand the advancements in this field. Microsoft recently launched its first quantum computing chip, the “Majorana 1”. This has triggered a renewed focus on whether Bitcoin can survive the escalating momentum towards million-qubit machines. The standout feature of Majorana 1 is its novel topological core architecture, intended to shift quantum computing from the confines of experimental labs to real-world applications in a quicker timeframe than previously anticipated. The Quantum Leap in Computing Microsoft’s CEO, Satya Nadella, has expressed…
Surfing the wave of cryptocurrency’s rising tide, Coinbase’s leading policymaker is urging U.S. legislators to implement a strong regulatory framework that not only safeguards consumer interests but also nurtures the growth of the crypto sector. Elaborating on six key focus areas, the Chief Policy Officer (CPO) underscores the necessity to balance proactive development and user protection in the rapidly evolving cryptocurrency landscape. Coinbase Appeals for Regulatory Clarity to Boost Cryptocurrency Industry Faryar Shirzad, the CPO of Coinbase, recently took to the company’s blog to advocate for clear and beneficial cryptocurrency regulations from U.S. Congress. Asserting the consequence of ambiguous legislation,…
As the blockchain ecosystem continues to grow exponentially, security breaches in leading cryptocurrency exchanges are becoming a matter of grave concern. One such incident has recently come to light, involving the prominent crypto exchange Bybit. In a significant revelation, this Singapore-based crypto exchange has confirmed a major security breach involving its Ethereum (ETH) cold wallet. Through an announcement on a leading social media platform, Bybit shared that the sophisticated attack occurred during a transfer process from the Ethereum multisig cold wallet to a warm wallet. Unauthorized Transfer Of a Massive Quantum of Ethereum Bybit has detailed that the attacker was…
Dive into the intriguing world of cryptocurrency, where we unravel the recent trends and patterns that affect popular memecoins. This article provides an in-depth analysis on the decline in on-chain activity of memecoins, with a particular focus on Pepe coin. Using data from the market intelligence platform, IntoTheBlock, we will shed light on the fluctuating trends in active addresses as well as the current performance of Layer 1 networks. Let’s begin by unraveling the mystery of Pepe’s declining active addresses. Pepe Experiences A Significant Decline In Active Addresses IntoTheBlock recently dived into the complex world of cryptocurrency, comparing the performance…