Day: November 7, 2023

Bitcoin Ordinals see resurgence on Binance listing

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Ordinals, a BRC-20 token collection minted on the Bitcoin blockchain, have surged by 40.8% in the past 24 hours to $10.19 after listing on crypto exchange Binance. According to Binance’s Nov. 7 announcement, traders can now trade Ordinals (ORDI) against Tether (USDT), Bitcoin (BTC), and the Turkish Lira (TRY). Binance claims that it did not charge developers any listing fees for the ORDI token and that withdrawals will open on Nov. 8. As part of initial incentives, the first 1,000 users who deposit at least 72 ORDI to the exchange received…

Signs Point To Cardano Rally Ahead

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FOR UPDATE… Cardano (ADA) has been making significant strides in the cryptocurrency market, reclaiming its position at the forefront of the altcoin buzz. The digital currency’s price rally has propelled it to a multi-month high, signaling a collective effort from both retail and whale investors.  At the time of writing, Cardano’s trading volume stands at an impressive $380,929, reflecting a remarkable 24.8% increase overnight. This surge in trading activity serves as a testament to the robust health of the Cardano market, underlining the active participation of all ecosystem stakeholders. Cardano:…

9 tips for a food business considering blockchain for its supply chain

Supply chain management has become a complicated issue for many industries in recent years — none more so than food and agriculture. When you’re in the business of ensuring essential, but perishable, goods get to where they’re supposed to go in a reliable and timely fashion — and are of the quality consumers deserve and expect — an accurate, real-time tracking system is invaluable. That’s why some food and agricultural businesses are looking into using blockchain technology. With its clear transparency and traceability advantages, verifying the origin, handling and quality…

Bitcoin Network encounters hour-long block production delay 

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The Bitcoin network experienced a brief downtime, in which a block wasn’t produced for approximately an hour on Nov. 7, raising concerns about network reliability.  This marks the third such incident in 2023, with previous delays observed in May.  One of many incidents According to data obtained from Blockchain Explorer, block 815,689 required almost 43 minutes to be produced, followed by the subsequent block 815,690, which took 66 minutes to complete. This extended duration is significantly higher than the typical average block time on the Bitcoin network, which usually hovers around…

Why Institutional Allocation to Crypto Is on the Rise

Market infrastructure is also maturing, with the two largest crypto-assets, bitcoin and ether, now having regulated futures products trading on the Chicago Mercantile Exchange (CME). The likelihood of a spot ETF tracking the spot price of bitcoin garnering approval in the U.S. is increasing, potentially opening doors to a wider range of investors by making crypto more accessible through traditional brokerage accounts, 401(k)s, and IRAs. Institutional OTC marketplaces, exchanges, clearinghouses, and custodians backed by traditional financial institutions are coming to market as well. These developments add a layer of credibility…

U.S. Federal Reserve’s Barr Holds Line on Central Bank Needing Stablecoin Powers

The U.S. Federal Reserve needs to regulate and enforce the law against stablecoin issuers, said Federal Reserve Vice Chairman for Supervision Michael Barr, making the federal-oversight argument that has been the major sticking point as the U.S. House of Representatives debates legislation. Republican lawmakers have leaned into a state-oversight route for companies issuing stablecoins – the steady tokens whose value is pegged to a less volatile asset such as the dollar – and Democrats have favored a dominant role for the Fed. Barr is decidedly in the latter camp. “We…