Day: August 15, 2023

BTC price won’t hit $100K before 2024 halving — Bitcoin investment exec

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Bitcoin (BTC) will only hit six figures after its 2024 block subsidy halving, not before, Bitcoin investor and author Jesse Myers believes. In an X (formerly Twitter) post on Aug. 15, Myers, who is co-founder of Bitcoin investment firm Onramp, said that the market would only “price in” the halving post factum. Markets not “efficient” with Bitcoin halving Bitcoin’s four-year halving cycles are back in focus as the next halving event looms in the first half of 2024. Miners will see the reward earned per block of transactions drop from…

Bitcoin Prediction: Crypto Analyst Forecasts New ATH by 2024

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On August 14, Kevin Kelly, Co-founder of prominent crypto research firm Delphi Digital provided some interesting insights on Bitcoin and the crypto market in general. According to Kelly, the crypto market moves in consistent cycles, and we are currently in the initial stages of a new cycle based on market evidence. Using the premier cryptocurrency as a benchmark, Kelly states a crypto cycle usually begins with Bitcoin attaining a new all-time high (ATH) value, followed by an 80% loss in the next year. Thereafter, BTC would experience a market recovery…

Bitcoin Depot Q2 revenue jumps 18% YOY, eyes growth after Nasdaq listing

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United States-based Bitcoin (BTC) ATM operator Bitcoin Depot said it posted its best-ever revenue numbers in the second quarter of 2023 as the company looks to expand its footprint after its recent listing on the Nasdaq. Bitcoin Depot released its Q2 results along with several cryptocurrency ecosystem firms, recording $197.5 million in quarterly revenue. The company noted that this is a record figure and an 18% increase from its revenue for the same period in 2022. The company also reported that its net loss of $6.1 million was down by…

New Zealand crypto exchange Dasset enters liquidation

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Customers of Auckland, New Zealand-headquartered crypto exchange Dasset have been denied access to their funds, and the company’s representative has revealed the beginning of its liquidation.  On Aug.14, local media outlet The Herald reported on the exchange’s troubles. According to the report, some customers have unsuccessfully tried to withdraw their funds for months. Speaking to journalists, the company’s CEO, Stephen Macaskill, explained that Dasset didn’t find a banking provider after its previous provider stopped working with the exchange in January 2023. Macaskill also revealed that the company had launched voluntary liquidation.…

Singapore central bank says three business days is ‘timely transfer’ for stablecoins

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While blockchains continue to revolutionize payments by allowing instant transfers, Singapore’s central bank believes three business days is a “timely transfer” for single-currency stablecoins (SCS), similar to transfer speed requirements for domestic money transfers.  On Aug. 15, the Monetary Authority of Singapore (MAS) released its regulatory framework for stablecoins in the city-state. In the newly-published guidelines, the financial regulator highlighted that it would consider three business days as a timely transfer for SCS despite some feedback calling for a shorter time frame. Screenshot of MAS’ response to the public consultation…

Voyager Sells 1.4 Trillion Shiba Inu, But There’s Good News

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In a recent revelation, Lookonchain, the on-chain analysis service, reported that Voyager Digital, the now-bankrupt crypto lending platform, has been offloading its crypto assets on Coinbase in recent days. Over the past four days, the defunct lender has sold 49 different crypto assets, netting approximately $63 million. For the SHIB army the most notable sale was the 1.4 trillion Shiba Inu tokens, which amounted to nearly $14.4 million. Beyond SHIB, Voyager’s sales included significant amounts of Bitcoin (BTC), Ethereum (ETH), Chainlink (LINK), Polygon (MATIC), and Decentraland (MANA). “Voyager has been…

Dubai lures AI, Web3 enterprises with 90% subsidized commercial licenses

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Dubai has started offering commercial licenses to artificial intelligence (AI) and Web3 businesses at a 90% subsidy as it works to create the largest cluster of new-age tech companies in the Middle East and North Africa (MENA) region.  The Dubai AI and Web 3.0 Campus — an aspiring tech hub — announced the decision to subsidize the licenses for companies willing to set up a base in Dubai, United Arab Emirates. The licenses will be issued by Dubai International Financial Centre (DIFC) as the city eyes an influx of global…

Price Spikes by 20% in Startling Rally

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Toncoin (TON) recently saw a remarkable breakthrough, shattering its month-long consolidation phase and providing a glimmer of hope for traders. The coin, which had been confined within a price range of $1.31 to $1.49, broke free from this range-bound pattern, but not without facing its share of challenges. During the consolidation phase, Toncoin exhibited multiple instances of attempting to breach the crucial $1.50 mark. These efforts sparked optimism among bullish market participants, hinting at a potential upward trajectory.  However, despite their persistence, the coin fell short of breaking through the…