Day: October 10, 2023

Bitcoin dominance hits 3-month high as ‘hammered’ altcoins risk dive

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Bitcoin (BTC) ground higher on Oct. 10 after the start of legacy market trading saw “de-risking” take over. BTC/USD 1-hour chart. Source: TradingView Bitcoin price preserves weekly support Data from Cointelegraph Markets Pro and TradingView showed BTC price stability returning ahead of the Wall Street open. Bitcoin bulls had lost their footing as the week began, with BTC/USD heading to $27,300 before reversing to trade near $27,700 at the time of writing. “Overall there’s been a lot of market de-risking into $27.4K – $27.3K,” popular trader Skew wrote in part…

New research proposes off-chain computations on Bitcoin

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A new research paper titled “BitVM: Compute Anything on Bitcoin” proposes a novel method for executing complex computations and smart contracts on the Bitcoin network. The paper — published on Oct. 9 — suggests that users verify Bitcoin (BTC) computations without executing them on-chain. This is done using a prover-verifier model, where the prover claims the result of a calculation, and the verifier can check if the claim is valid. The prover first compiles the program into a large binary circuit of logic gates to achieve this. They commit to…

Bullish crypto sentiment drops with the marketwide plunge

After a short-term bullish moment at the start of October, the crypto market has turned red again. The Israel-Palestine war might be one of the reasons for the bearish sentiment. According to the data provided by Santiment, the “bullish” trend plunged by 93% over the past 24 hours.  BTC price and bullish social volume – Oct. 10 | Source: Santiment The downward momentum comes as investors turn from altcoins to Bitcoin (BTC). According to CoinMarketCap (CMC) data, BTC’s market dominance has reached a three-month high of 50.2%. While the flagship…

Former Italian Central Banker Piero Cipollone Defends Digital Euro as He Seeks to Replace CBDC Supremo Fabio Panetta

The ECB lawmakers favored Cipollone’s candidacy to steer forward the agenda of a digital Euro to reinforce the public money infrastructure amid the mainstream adoption of digital assets. The European Union is preparing to roll out its Central Bank Digital Currency (CBDC) in a few years to keep its economic outlook competitive amid changing puzzles of geopolitics. Blockchain technology has been identified as a key to a successful digital Euro to enable retail CBDCs along the way. In the latest move, former Italian central banker, Piero Cipollone, largely convinced the…

Mistake or money laundering? User pays $1.6 million for CrypToadz NFT

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One of the CrypToadz nonfungible tokens (NFTs), whose average price doesn’t exceed $1,000, was bought for an astonishing 1,055 Wrapped Ethereum (wETH), an equivalent of $1.6 million. The deal occurred on the OpenSea market on Oct. 9. The NFT represents “a small, warty, amphibious creature,” one of the 6,969 units minted by the pseudonymous digital artist Gremplin. The CrypToadz collection was launched during the NFT boom of 2021 and surpassed a trading volume of 12,000 Ether (ETH) ($38 million) during its first 10 days on the market. The purchasing wallet…

Ripple CFO Leaves Crypto for Healthcare

While it is unclear if Campbell’s departure is related to the continued battle between Ripple and the United States, there are no indications of such. Ripple CFO Kristina Campbell has departed from the company to become the CFO at the virtual healthcare provider Maven Clinic, marking a significant shift in her career. Campbell expressed her delight at joining Maven Clinic as CFO. “Throughout my career, I’ve seen firsthand how technology can make people’s lives better, and Maven is proving that every day at the forefront of healthcare,” she explained. Ripple…

Tesla China Sales Fall Nearly 11% for September

Tesla sales in China fell in September according to an unofficial report from the China Passenger Car Association. Tesla Inc (NASDAQ: TSLA) stock fell nearly 2% on Monday morning after news that the company’s sales crashed in China. According to a China Passenger Car Association (CPCA) report, sales for the giant EV maker’s China-made vehicles plunged 10.9% year-over-year in September. According to the report, the company sold 74,073 EVs made in China in September. The report also noted that Model 3 and Model Y sales fell 12% between August and…

Tradecurve Markets aims to reshape crypto exchanges, Arbitrum and Bitcoin Cash uptrend slowing

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In the last bull run, Arbitrum and Bitcoin Cash were bullish. However, after failing to maintain the momentum, they are struggling and posted deep losses. Conversely, Tradecurve Markets aims to disrupt the crypto exchange scene. Arbitrum bullish trend ends In the last rally, ARB prices posted sharp gains, rallying from $0.75 in early September to $0.99, the highest since August. However, it found resistance at $1.00, retracing.  ARB may contract, falling to immediate support at $0.910 in a retracement. Despite this drop, there are indications that ARB may resume its uptrend.  Chainlink…