Day: November 4, 2023

What is metadata in blockchain transactions?

Metadata in blockchain transactions, explained Additional data or information that can be appended to a crypto transaction on a blockchain is referred to as metadata in blockchain transactions. Although the main function of a blockchain is to document and authenticate the transfer of digital assets, including cryptocurrencies like Ether (ETH) or Bitcoin (BTC), metadata enables users to add additional information or context to their transactions.  Metadata is data about data. In the context of blockchain transactions, it includes information that is not directly related to the transfer of cryptocurrency but…

Bitcoin Price Plunge To $12,000 Is Not Foreseeable

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The Bitcoin price performance was one of the brightest stories in the crypto market in the month of October. While some crypto analysts currently have bearish projections for the premier cryptocurrency, others have maintained a positive stance for BTC’s performance in November and beyond. A crypto analyst known by the pseudonym Mags on the X (formerly Twitter) platform recently offered an insight into Bitcoin’s price action, quelling bearish sentiments around the pioneer cryptocurrency. The Current Cycle Witnessed Its Own Black Swan Event Bitcoin enthusiasts and analysts have been closely monitoring…

FTT price up 13% following 2-week rally

FTT, the native token of beleaguered crypto exchange FTX, has seen its value grow by at least 13.3% over the last 14 days. The growth came against the backdrop of the trial of former FTX CEO Sam Bankman-Fried. A 12-person jury found the FTT creator guilty of all charges proffered against him, with sentencing scheduled for March 28, 2024. However, following the verdict, FTT lost some momentum, recording a 0.2% drop in the last 24 hours and a 5.9% loss over seven days. FTT 14-day price chart | Source: CoinGecko…

Cardano Summit 2023: Merging AI And Blockchain, Funding, And Day 2 Recap

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In the financial center of Dubai, the Cardano Summit 2023 will gather some of the most prominent projects in the crypto space. During the three-day event, speakers, founders, and the community will voice views on the growing sector and the future of the network and blockchain technology as Cardano enters a critical stage in its development. Cardano Summit 2023 Hints At What’s Next For The Ecosystem The second day of the Cardano Summit 2023 was all about a debate on governance, community, funding, and bridging the Cardano ecosystem with new…

Value of X halves, CME rises among top Bitcoin futures exchanges, and other news

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The crypto industry continues to anticipate the approval of a spot Bitcoin exchange-traded fund (ETF) in the United States as more investment managers file amended applications with the Securities and Exchange Commission (SEC). The high level of anticipation has even caused the Chicago Mercantile Exchange (CME) to leap positions among derivatives exchanges in terms of Bitcoin (BTC) open interest, overtaking traditional crypto exchanges and highlighting the demand for a spot Bitcoin product. The CME also saw its cash-settled futures contracts exceed 100,000 BTC in volume recently. In the week’s negative…

Why This Fidelity Investments Director Believes Bitcoin Is ‘Exponential Gold’

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The Director of Global Macro at Fidelity Investments, Jurrien Timmer, recently provided insights into the potential of the flagship cryptocurrency, Bitcoin, and went as far as labeling the crypto token as “exponential gold.” A Glance At Bitcoin’s Adoption Curve In a post released on his X (formerly Twitter) platform, Timmer mentioned that Bitcoin’s scarcity and adoption curve potentially allow it to be a “high-powered hedge against monetary shenanigans,” likely alluding to the fact that the token’s features make it a great option to hedge against inflation. That is why he…

SGKB announces partnership with SEBA Bank to offer digital asset custody, brokerage services

According to a Nov. 2 post on X, SEBA Bank has announced a new partnership with St. Galler Kantonalbank (SGKB) to offer users the chance to buy and trade cryptocurrencies like Bitcoin and Ether. SGKB is the fifth largest bank, with 35 branches in the eastern part of Switzerland. A major milestone As part of the announcement, the bank states that the initial group of clients to be served will consist of the bank’s wealth management customers, followed by retail customers and alongside plans to introduce additional coins and staking…

Bitcoin bulls defend $34K as trader predicts next BTC price ‘impulse’

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Bitcoin (BTC) sought to pressure $35,000 on Nov. 4 as weekend markets continued to consolidate higher. BTC/USD 1-hour chart. Source: TradingView “Significant” event sets up BTC price upside Data from Cointelegraph Markets Pro and TradingView showed BTC price support holding after the end of Wall Street trading. The largest cryptocurrency saw a revisit of intraday lows the day prior, but $34,000 successfully passed the test as a short-term BTC price floor. #Bitcoin has been above $34k for 11 days now.Healthy accumulation zone. — James V. Straten (@jimmyvs24) November 4, 2023…

Lawyer expects around 20 years of jail time for Sam Bankman-Fried

After 17 days, the fate of Sam Bankman-Fried, the founder and former CEO of FTX, hangs in the balance as his trial continues. The case has attracted a lot of attention from legal experts and observers, who have shared their varying opinions on the possible outcome. One such legal commenter is David Lesperance, managing director at Lesperance & Associates and a lawyer with over three decades of experience in finance. Lesperance told crypto.news in an interview that the prosecution has presented a strong case against Bankman-Fried. The charges against Bankman-Fried…

Coinbase cuts net loss amid declining trading volume in Q3 2023

Coinbase, a cryptocurrency exchange, reported a net loss of $2 million in Q3 2023 despite rising revenue and a drop in trading volume, according to details of the recent shareholders letter circulated on Nov. 2.  However, the exchange reduced its net loss compared to the same period last year, which was $545 million.  The company’s total revenue was $674.1 million, an increase of 14.2% compared to last year, with $334.4 million coming from subscriptions and services, and $288.6 million from transaction revenue. Consumer trade volume was $11 billion, while institutional trading volumes…