Day: November 9, 2023

Polygon Labs Starts 110M MATIC Grant Program to Draw Builders to Its Ecosystem

CryptoX – Cryptocurrency Analysis and News Portal Direct grants of up to 2 million MATIC ($1.55 million) will be offered to later stage projects, Polygon Labs said in an emailed announcement on Thursday. Early stage projects can apply for so-called quadratic funding grants, whereby community members make donations that act as votes on where they are allocated. Source The post Polygon Labs Starts 110M MATIC Grant Program to Draw Builders to Its Ecosystem appeared first on CryptoX. CryptoX Portal

Shibarium Network Lull – How It Affects The Future Of BONE

boss

Shibarium, the highly anticipated layer-2 solution for the SHIB army, finally became functional on Aug. 28, following a rocky launch plagued by technical issues that drew scorn from the broader cryptocurrency community. The launch promised a new era of efficiency for SHIB holders who had eagerly awaited this solution for over a year.  However, recent data paints a troubling picture of Shibarium’s current state, with a steep decline in user engagement and network activity levels reminiscent of its early days of operation. Data from the Shibarium explorer reveals a significant…

Bitcoin miner Marathon Digital posts 670% surge in Q3 revenue

boss

Bitcoin miner Marathon Digital Holdings has reported a substantial increase in revenue, marking a 670% rise year-on-year in the third quarter of 2023. This remarkable growth is attributed to a significant uptick in Bitcoin (BTC) production, which increased from 6.7 mined BTC per day in Q3 2022 to an impressive 37.9 BTC per day in Q3 2023. Marathon’s Q3 Earnings Release is here:– Revenue of $97.8M, due to 467% increase in #Bitcoin production and higher BTC prices.– Adjusted EBITDA improves to $43.7M.– 8% increase in hash rate; expanding with hydro-powered…

US Congressman Tom Emmer Proposes to Restrict SEC’s Actions Against Crypto

With the amendment sailing through unopposed, Emmer emphasized the potential roles of other government bodies, such as the Department of Justice and the Treasury, in managing any possible misconduct within the crypto industry. United States Congressman Tom Emmer is advocating for a significant change that aims to limit the powers of the Securities and Exchange Commission (SEC) in its dealings with the cryptocurrency industry. On Wednesday, November 8, Emmer proposed to amend the Financial Services and General Government Appropriations Act (HR 4664) bill to include a clause that prohibits the…

Bitcoin Surges to New 18-Month Highs, Price Nears $37K

As the Bitcoin market continues to surprise with its resilience and unexpected surges, investors and enthusiasts eagerly await regulatory developments. In a surprising turn of events, Bitcoin (BTC) price has soared to new heights, reaching an 18-month high and inching closer to the $37,000 mark. The sudden surge caught many market participants off-guard, with traders expressing both excitement and bewilderment at the unexpected strength of the rally. Bitcoin Price Rally and Market Sentiment According to data from TradingView, Bitcoin broke through the $36,000 barrier after the daily close, reaching $36,864…

US Senator Introduces Bill for ‘Keep Your Coins Act’ to Senate to Promote Self-Custody of Crypto Assets

The bill, if passed, will prevent undue government interference in the crypto sector, and also support self-custody wallets. A new crypto bill has been introduced to the United States Senate to give crypto holders more power over their assets. Senator Ted Budd (R-NC) introduced the “Keep Your Coins Act” to the 118th Congress on Tuesday. The new bill aims to let crypto holders maintain full custody of their assets without the need for any middlemen or third parties, including cryptocurrency exchanges. The bill also hopes to disallow the Federal government…

Chainlink’s Institutional Demand Soars amid Massive LINK Price Rally

The Grayscale Chainlink Trust (GLNK) has been trading at 200% premium to the spot price amid the recent LINK price rally. Oracle service provider Chainlink has been in the limelight once again as the LINK price surged to $15 in a phenomenal 98% price surge just over the last 20 days. The recent LINK price rally comes as the institutional demand for the altcoin also skyrockets. The Grayscale Chainlink Trust (GLNK) has witnessed an astounding 200% premium compared to the prevailing LINK market rates, marking a considerable surge of nearly…

Bitcoin’s soar past $36k triggers $186m in liquidations

boss

On Nov. 9, Bitcoin passed the $36,000 mark. The volume of liquidations on futures in the crypto-asset market increased to around $186.6 million. In the last 24 hours, 57,903 traders’ positions were liquidated, totaling more than $186.6 million, according to CoinGlass. About $154.44 million of losses came from short positions. Bitcoin liquidations | Source: CoinGlass The largest liquidations were recorded on the OKX and Binance crypto exchanges – $67.89 million and $58.73 million, respectively. This is followed by Bitmex – $22.22 million, Bybit – $17.8 million, and Huobi – $16.46 million.…

Bitcoin puzzles traders as BTC price targets $40K despite declining volume

boss

Bitcoin (BTC) may have tapped $37,000 for the first time in 18 months, but traders are getting suspicious of BTC price action. BTC/USD 1-hour chart. Source: TradingView BTC price move “doesn’t feel right” After snap overnight gains, Bitcoin is attempting to crush resistance on the way toward the $40,000 mark. ​​Data from Cointelegraph Markets Pro and TradingView shows BTC/USD snatching at $37,000 after initially breaking through prior to the Wall Street open. Now up 6.6% in November, the largest cryptocurrency is surprising some market participants with its strength, having already…