Day: November 27, 2023

BTC price eyes $40K amid record hash rate — 5 things to know in Bitcoin this week

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Bitcoin (BTC) starts a new week keeping traders guessing near its highest levels in 18 months — what’s next? BTC price action has held higher after spiking above $38,000 last week, but since then, a testing “micro-range” has left bulls and bears locked in battle. Whether a deeper retracement will come or a trip to $40,000 will leave naysayers behind is now the key short-term question for market participants. Coming up over the next few days are various potential catalysts to help effect trend emergence for Bitcoin, while underneath, there…

Average value of undeclared crypto in Japan dropped 19% in 2022

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According to Japan’s tax authorities, the average value of undeclared income in crypto fell by 19% in 2022. On Nov. 24, the Japanese National Tax Agency (NTA) released its yearly summary of tax investigations. The 13-page document also contains data on the probe into crypto tax evasion. Related: Circle and SBI Holdings partner to boost USDC circulation in Japan The NTA initiated 615 investigations into citizens’ crypto holdings based on their tax declarations for 2022, up from 444 in 2021. In 548 cases, the agency found tax violations, a 35%…

HTX Restores Services after $30M Hack but Justin Sun’s Platform November Security Breaches Raise More Concerns

What has surprised many observers closely monitoring these illicit activities is the recurring association of these hacks with platforms connected to Justin Sun. The cryptocurrency trading platform HTX, formerly known as Huobi, which has ties to industry entrepreneur Justin Sun, regained functionality this week following a security breach resulting in an estimated $30 million loss. On November 22, HTX was a victim of a hack targeting online hot wallets, which allowed the attackers to withdraw user funds. After temporarily halting deposits and withdrawals, HTX announced this week it had restored…

Cosmos Founder Proposes Chain Split, Native Coin ATOM Posts Immediate Losses

Kwon has requested input from Cosmos community members, as he asked them to put forward their ideas about a split. On Sunday, November 26, Cosmos founder Jae Kwon proposed a chain split to community members, following an earlier decision to reduce ATOM’s inflation. The Cosmos community had earlier agreed to take the inflation of ATOM – the native coin of Cosmos Hub – from 14% to 10%. That was after they voted 41.1% in favor of the reduction as opposed to a 31.9% vote against it. Meanwhile, the decision is…

Robert Kiyosaki recommends Bitcoin, gold, silver investments ‘before it’s too late’

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Robert Kiyosaki, the author of the personal finance book Rich Dad Poor Dad, has reiterated his support for assets like Bitcoin (BTC), gold, and silver as inflation threatens to worsen living standards globally. The price of gold recently crossed $2,000 per ounce, marking a steady recovery amid the weakening value of fiat currencies. As a strong supporter of the Bitcoin ecosystem, Kiyosaki recommended his over 2.4 million followers on X (formerly Twitter) to reduce their exposure to fiat currencies, which he called the “fake money system.” Great News Gold reaches…

Cathie Wood’s ARK Invest Sold $5M Worth of GBTC Shares Last Week

The discount shrank to 8.6% on Friday, the lowest since July 2021, in a sign of escalating optimism that a spot bitcoin exchange-traded fund (ETF) will finally be approved in the U.S. Analysts attributed the improvement to Grayscale’s meeting with the Securities and Exchange Commission (SEC) about turning the trust into a spot ETF. The discount hit a record low of almost 50% last December. Source

Why Did Terra Classic (USTC) Rise 300% In One Day?

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TerraClassicUSD (USTC), the algorithmic stablecoin tied to the LUNA ecosystem, recently went on an upward trajectory to register gains of over 300%. In a stunning cascade of events, the token’s price spike in the past 24 hours has left investors wondering about the implication for Terra Classic (LUNC) and the potential revival of the LUNA ecosystem. USTC Coin Spikes 300% In One Day USTC has lost most of its usefulness as a stablecoin since its implosion in 2022 when it was known as UST. The stablecoin lost its peg to…

LUNA, LUNC, USTC surge as social activity skyrockets after key update

The three tokens of the Terra ecosystem — Terra (LUNA), Terra Classic (LUNC) and TerraClassicUSD (USTC) — have gained momentum following an update last week.  The surge comes a week after Terraform Labs deployed $10 million worth of assets in three different liquidity pools.  LUNA is up by 22% in the past 24 hours and is trading at $0.83 at the time of writing. The asset’s market cap rose to $490 million, making it the 99th-largest cryptocurrency. Terra’s 24-hour trading volume also witnessed a 400% surge, reaching $485 million. LUNA…

HIVE Digital Set to Acquire Data Center Facility in Sweden to Expand Its Global Presence

To increase its BTC mining capacity, HIVEDigital is buying a data center site in Sweden. Canada-headquartered BTC mining company HIVE Digital has announced its intention to buy an additional data center facility that is located in Sweden. It has been revealed that for this strategic acquisition, the company will with cash (up to $750 000) and equity (up to $1.5 million). HIVE Digital is planning to use this site to increase its Bitcoin mining capacity. To be continued. next Bitcoin News, Blockchain News, Business News, Cryptocurrency News, Deals News Thank…

AI Chatbot Starts Beta, ADA Price Eyes 22% Uptick

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CardanoGPT has officially announced the beta launch of its AI-powered chatbot, Girolamo. This initiative marks a substantial advancement in the integration of artificial intelligence (AI) technologies with the Cardano blockchain ecosystem. Named after the influential Italian mathematician Girolamo Cardano, the chatbot intends to symbolize the fusion of historical intellectual legacy with contemporary technological innovation. Girolamo is engineered to provide a range of functionalities, including content generation, image generation, and image interpretation, which are tailored to accommodate diverse user inquiries. This suite of capabilities enables the chatbot to offer real-time, contextually…