Day: October 24, 2023

XRP Price Confirms Early Stages Of Bull Market? Data Sheds Light On Recent Rally

Volatility is back in the crypto market as the XRP price and the price of other major cryptocurrencies trend to the upside and into new year highs. The cryptocurrency is heading towards its next resistance level with a high chance of As of this writing, the XRP price trades at $0.57, with a 9% increase in the last 24 hours. The cryptocurrency recorded a 16% spike in the previous seven days and closely followed Bitcoin and Ethereum’s price action, which recorded a 22% and 16% profit over the same period.…

BlockFi emerges from bankruptcy and opens wallet withdrawals

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Crypto lending platform BlockFi has emerged from bankruptcy and is ready to pay back some of its creditors, according to an October 24 blog post. Withdrawals “are currently available to nearly all Wallet customers,” the post stated, adding that Blockfi Interest Account (BIA) and Loan customers will be able to withdraw some assets in early 2024. BlockFi is pleased to announce that its bankruptcy plan (the “Plan”) is effective and the company has emerged from bankruptcy as of October 24, 2023 (the “Effective Date”). — BlockFi (@BlockFi) October 24, 2023…

How Fully On-chain Games Are the Future of Web3 Gaming

Currently, there are a few key benefits we can point to when talking about the value that Web3 brings to games, including digital asset ownership, open and permissionless marketplaces, interoperability, transparency, provable scarcity, and community building. But earlier this year, Philip La, a former product manager for Axie Infinity and Pokémon Go, delivered his assessment of these and other purported benefits, grading their performance on an A to F scale. With results ranging from D at worst to B+ at best, it was a thoroughly mediocre report card. Even real-money…

Bitcoin just broke above a key resistance level. Here’s what chart analysts say happens next

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At last, bitcoin has broken out of a tight trading range, potentially heralding greater highs from here. After oscillating between $25,000 and $30,000 for most of the year, touching the top end several times and stepping out of it briefly at one point in July, the flagship cryptocurrency shot up to $35,000 late Monday . Bitcoin sat just below that threshold for much of the trading day Tuesday. Investors should expect higher lows and higher highs in the bitcoin price over the next few months, chart analysts say. “The strong…

Bitcoin Break Above $35,000 Sends 95,000 Crypto Traders To The Slaughter

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Following reports of BlackRock’s Spot Bitcoin ETF being listed on the Depository Trust & Clearing Corporation (DTCC) with the ticker IBTC, the BTC price had rallied above $35,000 based on investor expectations alone. The quick nature of this surge saw tens of thousands of crypto traders caught in the crossfire as over $400 million was liquidated in one day. More Than 95,000 Crypto Traders Lose Their Positions According to data from Coinglass, the crypto liquidation volumes ramped up quickly following the Bitcoin price surge. The platform reports that almost 95,000…

Humans and AI often prefer sycophantic chatbot answers to the truth — study

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Artificial intelligence (AI) large language models (LLMs) built on one of the most common learning paradigms have a tendency to tell people what they want to hear instead of generating outputs containing the truth. This, according to a study from Anthropic AI.  In one of the first studies to delve this deeply into the psychology of LLMs, researchers at Anthropic have determined that both humans and AI prefer so-called sycophantic responses over truthful outputs at least some of the time. Per the team’s research paper: “Specifically, we demonstrate that these…

Bitcoin bulls fight to hold $34K as CME BTC open interest surpasses 100K

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Bitcoin (BTC) is currently battling to hold the $34,000 level after a stellar rally and short squeeze saw its price push above $35,000 on Oct. 23. In an Oct. 24 market update, Capriole Investments founder Charles Edwards noted that after seven months of consolidation, Bitcoin’s upward move melted the $32,000 resistance “like butter.” He expects that the upcoming monthly resistance is unlikely to be a hurdle, saying: “It would make sense to see either a rapid continuation to mid-range ($43K) or short-term consolidation between support resistance at $32-$35K before continuation.”…

dYdX publishes its open-source code in anticipation of phased mainnet launch

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Crypto exchange dYdX has published the open-source code for its new Cosmos-based network of the same name, according to an Oct. 23 blog post. The new code includes the “protocol, order book, front-end, and more,” the post stated. The publication of the code is intended to pave the way for a mainnet launch, which is being organized by the dYdX Decentralized Autonomous Organization (dYdXDAO) SubDAO on Operations. 1/ It’s finally here Today, we’re proud to present and fully open-source the completed dYdX Chain! This is the next chapter for dYdX…

Crypto-related stocks soar as Bitcoin gains 10% on the day

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Crypto-based firms like Coinbase and MicroStrategy experience notable upticks on the stock market and Bitcoin rallies. Companies with significant cryptocurrency holdings or operations are experiencing a positive market response as Bitcoin rallies over the $35,000 mark on Oct. 24th.  Crypto exchange Coinbase Global Inc. and corporate Bitcoin investor MicroStrategy Inc. saw their stock prices swell by 14 percent and 12 percent, correspondingly, as the market commenced. Similarly, cryptocurrency mining companies Marathon Digital Holdings Inc. and Riot Platforms Inc. also reported over 13 percent in gains during the early hours of…

Bitcoin Long-Term Holders Stay Resolute Despite Rally, Supply Hits New ATH

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On-chain data shows the Bitcoin long-term holder supply has set a new all-time high (ATH) despite the rally offering a profitable exit point. Bitcoin Long-Term Holders Haven’t Given In To The Allure Of Profit-Taking Yet In its latest weekly report, the on-chain analytics firm Glassnode has discussed how the BTC long-term holders have reacted to the latest rally in the asset towards the $35,000 level. The “long-term holders” (LTHs) refer to those investors who have held onto their coins since at least 155 days ago. Statistically, the longer a holder…