Day: November 28, 2023

Shiba Inu Burn Rate Skyrockets Close To 500,000% in 24 Hours

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Shiba Inu (SHIB), an Ethereum-based altcoin has recently garnered the attention of the cryptocurrency community and investors as the token’s burn rate experienced a massive surge. Shiba Inu Burn Rate Increases Significant The Shiba Inu burn rate recently increased significantly by 499,416% in a 24-hour period between Sunday and Monday. Data from Shibburn – the platform that tracks SHIB token burns, shows this marks a new record for the token’s burn initiative. It also highlights the renewed strength of the community’s attempts to manage its token total supply. Furthermore, the data…

Canaan’s Q3 Bitcoin mining revenue declines by nearly 80%

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Canaan reports significant mining loss in Q3 2023 but reflects a resilient year-on-year performance. Bitcoin mining solution provider Canaan has reported a total revenue of $33.3 million and a net loss of $80.1 million for Q3 2023. The revenue, primarily from the sale of 3.8 million Thash per second of computing power, represents a year-over-year increase of 8.6% despite a decrease from previous quarters. A significant development in the quarter was the launch and pre-sales of the new A14 product series, characterized by high computing power and energy efficiency. This…

Cathie Wood’s Ark Invest Offloads $5.3M in Coinbase Holdings and Acquires $1.2M Worth of Robinhood Shares

Ark Invest seems to be rearranging its investment portfolio and has continued to sell huge amounts of Coinbase, while acquiring Robinhood shares. Cathie Wood’s investment firm, Ark Invest, made notable moves in its portfolio on Monday, marking a strategic shift in its crypto and fintech holdings. Ark Invest sold a substantial amount of its Coinbase Global Inc (NASDAQ: COIN) shares while increasing its position in Robinhood Markets Inc (NASDAQ: HOOD) and actively managing its exposure by also selling off its Grayscale Bitcoin Trust (GBTC) holdings. Ark Invest’s Coinbase Sell-Off amid…

Animoca Brands Invests in TON Ecosystem

Animoca will leverage TON Play, a TON-based gaming infrastructure that allows projects to launch directly onto Telegram. Hong Kong-based gaming venture capitalist Animoca Brands has announced its strategic investment in the TON ecosystem. Following the investment, Animoca became the largest validator of The Open Network (TON) blockchain. According to emerging reports, the venture capital firm has previously researched the TON ecosystem extensively. Thereafter, it published two study reports detailing the potential of the TON blockchain. The reports highlighted the scalability of TON and its user-friendly apps as critical elements for…

More foreign banks join China’s CBDC pilot trials

More foreign banks have joined China’s digital yuan central bank digital currency (CBDC), the e-CNY, following British bank Standard Chartered’s entry on Nov. 27, bringing its total to four. According to local news reports, Hong Kong-based HSBC, Hang Seng Bank and Taiwanese bank Fubon Bank have also added e-CNY integrations to their platforms. All four foreign banks will allow their clients to transfer and withdraw e-CNY. Moreover, Hang Seng Bank has allowed personal banking customers to bind debit cards within the official e-CNY app and redeem digital renminbi. They can also…

‘Buy the rumor, sell the news’ — Bitcoin ETF may spark TradFi sell-off

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Bitcoin (BTC) may suffer when the United States approves the first spot exchange-traded fund (ETF), a new warning says. In a thread on X (formerly Twitter) on Nov. 28, Joshua Lim, head of derivatives at capital market firm Genesis Trading, predicted a volatile start to 2024 for BTC price action. Bitcoin ETF approval: Retail may be left holding the buck Lim said that Bitcoin is already a target for traditional finance, or “TradFi,” which is betting on winning big out of the spot ETF approval. “We know tradfi guys /…

Bitcoin Bull Run Is Only Just Starting, According To This Metric

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On-chain data shows the Bitcoin SOPR hasn’t yet reached high levels that have been associated with heated bull market phases in the past. Bitcoin SOPR Has Only Seen Mildly Positive Values Recently In a CryptoQuant Quicktake post, an analyst has explained how market psychology has driven the BTC price during the past few years. The on-chain indicator that best represents the Bitcoin trader psychology according to the quant is the “Spent Output Profit Ratio” (SOPR). The SOPR basically tells us about whether the BTC investors are selling their coins (or…

AIs can run DAOs – Cointelegraph Magazine

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For every genuine blockchain project harnessing artificial intelligence there are 100 coins trading off the hype. Magazine spoke with Near founder Illia Polosukhin, Framework Ventures founder Vance Spencer, MakerDAO founder Rune Christensen, Richard Ma from Quantstamp, Ralf Kubli from Casper and others to explore some of the key hype-free, genuine use cases for AI in crypto and blockchain. We’re rolling out one genuine use case for AI in crypto each day this week — including reasons why you shouldn’t necessarily believe the hype. AIs can help run DAOs MakerDAO is…