Day: July 3, 2023

How Central Bankers Are Reshaping the Definition of Money

While struggling to let go of the traditional definition, the authors accept that the technological advances – driven largely by the emergence of blockchains – allow for some separation of money’s features. What money can do has been impacted by technology, in ways we are all still coming to terms with. It has always been able to trigger programmatic functions (such as in vending machines and arcade games), only now they are sophisticated. It has always had the potential to also be a collectible (signed bills, historic notes), only now…

Bitcoin exchange inflows and supply see unprecedented decline

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied CryptoQuant bitcoin research indicates an 80% decline in the number of addresses logging inflows over a span of 612 days. This marks the largest decline ever recorded in the history of bitcoin. The analysis, which considers data from October 2021, highlights an even higher decline of 84% when compared to the peak in May 2021. A record high In the thread, CryptoQuant highlights the significant decrease in the amount of bitcoin being deposited into cryptocurrency exchanges…

Tim Draper pushes bitcoin price estimate to $250k by 2025

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Venture capitalist Tim Draper revised his bitcoin price prediction, extending the time frame for the cryptocurrency to reach $250,000 to June 2025. Prominent venture capitalist, Tim Draper, has once again revised his bitcoin price forecast. Originally predicting bitcoin to skyrocket to $250,000 when its value was just $4,000, he had projected a sixty-fold growth by now. However, with bitcoin closing June below $31,000, Draper suggests that the cryptocurrency enthusiasts might have to exercise patience for his…

Bankrupt Crypto Exchange FTX Plans Dramatic Comeback with FTX.com Relaunch

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After facing a high-profile collapse last year, bankrupt crypto exchange FTX is determined to make a comeback and revive its international platform, FTX.com. Despite the challenges posed by increased regulatory scrutiny, FTX is forging ahead with its plans under the leadership of CEO John J. Ray III, who took charge in November 2022 when the exchange filed for bankruptcy. The Wall Street Journal has confirmed that FTX has begun the process of soliciting interested parties to support the relaunch of FTX.com. The firm is engaging potential investors and exploring options…

Bitcoin trading activity surges during US market hours, research shows

Research findings by K33, a digital assets platform, show a pattern in bitcoin trading, with increased activity during US market hours compared to Asian and European sessions.  US market power  Despite growing concerns about regulatory uncertainties in the United States, with various crypto market participants currently locked in legal battles with the Securities and Exchange Commission (SEC), a new study by K33 shows, the country remains a force to reckon with when it comes to bitcoin trading. Per the latest research findings, the world’s flagship cryptocurrency has shown a rise…

Bitcoin traders torn between breakout and $28K dip as BTC price stalls

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Bitcoin (BTC) lingered below $31,000 at the July 3 Wall Street open with bulls still in need of a catalyst. BTC/USD 1-hour chart. Source: TradingView Bitcoin price: Sink or swim at $30,000 Data from Cointelegraph Markets Pro and TradingView showed BTC/USD acting in a tight range following the weekly close. BTC price performance remained firmly sideways into the new week, punctuated only by modest attempts at attacking the $31,000 mark. More optimistic market participants hoped that nearby resistance levels — and not only for Bitcoin — would soon fall. “The…

Do We Need a New Blockchain for Generative AI?

Until a few months ago, the gap between API-based and open-source foundation models was significant. Models such as OpenAI’s GPT-4, Anthropic’s Claude in the language space, DALL-E, and Midjourney in the computer vision space, seemed significantly advanced compared to open-source alternatives. However, a change started to occur late last year with the surprising open-source release of Stable Diffusion, which provided a viable alternative to API-based text-to-image models. Despite this, large language models (LLMs) continued to be the focal point of generative AI, and in that domain, open-source models paled in…