Day: June 27, 2023

Tezos Blockchain Set to Become 8 Times Faster After ‘Nairobi’ Upgrade

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Will $30K be a new springboard for Bitcoin bulls?

After a failed rally above $31,000 on June 23, Bitcoin (BTC) has sustained the $30,300 resistance for the past three days. Curiously, this happened while gold reached its lowest level in three months, trading at $1,910 on June 22, down from a $2,050 peak in early May. Investors now question how solid Bitcoin’s $30,000 support is. So analyzing what caused the recent price rally is essential to understanding how traders are positioned on BTC margin and futures markets. Why did BTC price break above $30,000?  Some analysts attribute Bitcoin’s recent…

US President Unveils $42B Initiative for High-Speed Internet Initiative in America

White House infrastructure coordinator Mitch Landrieu emphasized that high-speed internet is a necessity in today’s society and should be accessible to every household in America. The incumbent and 46th president of the United States (US) Joe Biden has announced a high-speed internet initiative worth $42 billion in America. The scheme is his next push to invest in the country as he prepares for his re-election bid. The president is launching the project, targeted at offering high-speed internet to all households in America by 2030. Notably, Congress has already allocated the required…

IBM Buying Vista Equity Partners’ Apptio for $4.6 Billion

The news from IBM on its plans to acquire Apptio came at a time organizations are digitally transforming their business operations faster than before. Amid the increasing use of cloud architecture, technology corporation IBM (NYSE: IBM) said it would acquire software company Apptio from Vista Equity Partners. According to a press release, IBM is purchasing Apptio SaaS solutions which help organizations to plan, analyze, optimize, control, and collaborate with other investments as they make smart decisions, after entering into a definitive agreement with Vista Equity Partners. Per the deal, the technology…

BTC price metric warns that Bitcoin speculators may sell past $33K

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Bitcoin (BTC) may see a “market correction” should BTC price action go much beyond $33,000, research warns. In the latest edition of its weekly newsletter, “The Week On-Chain,” analytics firm Glassnode flagged speculative selling risk on the horizon. Bitcoin speculator profits average 12% Bitcoin short-term holders (STHs) — the more speculative BTC investors — have returned to the spotlight this year. Recently, their aggregate cost basis appeared to form wider BTC price support near $26,000. For Glassnode, which observed the cost basis’ significance in recent weeks, the opposite effect could…

EU Seals Deal on Crypto Bank-Capital Rules

The political deal, which also introduces sweeping and controversial changes to how banks assess the risk of corporate and home loans, must now be voted on by member states in the EU’s Council and by lawmakers to become legislation, a process that can in practice take many months. Source

Riot Platforms to add 33,000 Bitcoin miners ahead of 2024 halving

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Riot Platforms — one of the world’s largest Bitcoin (BTC) mining companies — has bought 33,280 “next-generation” Bitcoin miners for its Texas facility, costing $162.9 million. The rigs, which were sourced from mining manufacturer MicroBT, will boost the firm’s self-mining capacity by 7.6 exahashes per second (EH/s) and comes “in advance” of Bitcoin’s next halving cycle, which is set to take place in mid-2024. Riot Purchases 7.6 EH/s of Next Generation Miners from MicroBT, Manufactured in the United States. Read more in today’s press release: https://t.co/esLToy798H — Riot Platforms, Inc.…