Day: December 4, 2023

Coinbase initiative announces crypto-themed US presidential forum

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The “Stand With Crypto” campaign launched by cryptocurrency exchange Coinbase plans to bring candidates for the 2024 United States presidential election together to discuss blockchain technology and digital assets. According to its website as of Dec. 4, Stand With Crypto confirmed that Republican candidates Asa Hutchinson and Vivek Ramaswamy, as well as Democratic candidate Dean Phillips, will appear in person in New Hampshire on Dec. 11 to discuss issues related to digital assets. Invited candidates included former President Donald Trump, independent candidate Robert F. Kennedy Jr., and Republicans Doug Burgum,…

Heavyweight Investors Pile Into Cardano, What’s Next?

Cardano (ADA) has recently caught the attention of large-scale investors, also known as ‘whales.’ Crypto analyst Ali, leveraging on-chain data, has observed a significant uptick in large ADA transactions, typically over $100,000, in the past three months. Ali noted that this growing trend suggests a heightened interest from institutional players and high-net-worth individuals in ADA. The analyst further disclosed that such whale activities have often been precursors of imminent price movements. #Cardano | In the last three months, there’s been a significant increase in $ADA transactions over $100,000, reaching new…

Meta’s AI boss says there’s an ‘AI war’ underway and Nvidia is ‘supplying the weapons’

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Meta AI boss Yann LeCun sounded off on the industry-wide state of artificial intelligence and quantum computing during a recent event to celebrate the 10 year anniversary of the founding of Meta’s Fundamental Artificial Intelligence Research (FAIR) team.  During LeCun’s commentary, he commented on Nvidia’s current stranglehold on the AI hardware industry, the likelihood human-level AI will emerge in the near future, and why Meta isn’t currently pursuing quantum computing alongside its competitors. By “not any time soon”, I mean “clearly not in the next 5 years”, contrary to a…

Bitcoin price rally to $42K driven by spot volumes, not BTC futures liquidations

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In the past seven days, Bitcoin (BTC) experienced a whopping 14.5% surge, hitting a 20-month high at $41,130 by Dec. 4. Traders and analysts have been abuzz with speculation, especially in the wake of the $100 million liquidation of short (bearish) Bitcoin futures within just 24 hours. However, when we dive into BTC derivatives data, a different story unfolds—one that places the spotlight on spot market action. BTC liquidation map Enough shorts to run it up all the way to $45-46k pic.twitter.com/7O2zYD4j8Q — Nik Algo (@nik_algo) December 4, 2023 The…

ParaSpace to continue NFT lending as it rebrands to Parallel Finance

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Despite rebranding to Parallel Finance for a greater focus on the decentralized finance (DeFi) ecosystem, the nonfungible token (NFT) lending protocol ParaSpace will continue to focus on its core product amid sector woes. In a conversation with Cointelegraph, Yubo Ruan, founder and CEO of ParaSpace (now Parallel Finance), explains that the protocol uses a combination of diversified liquidity pools, dynamic loan-to-value ratios and price-discovery partnerships to mitigate the risks associated with high volatility, which can often result in a lack of bidders on the underlying asset. “Despite the market downturn,…

Bitcoin Cycle Analysis And Macro Factors Reveal When Price Will Reach $125,000

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Crypto financial services firm Matrixport has reaffirmed its bullish projection on the future trajectory of the Bitcoin price. While at it, the firm also mentioned when this is likely to happen based on past cycles and historical performance. When Bitcoin Will Hit $125,000 In a report that dwelled on the sustainability of the bull market in 2024, Matrixport mentioned that Bitcoin will hit $125,000 by the end of 2024. Before then, they project that Bitcoin will hit $63,140 by April 2024. April 2024 is scheduled to be when the Bitcoin…

How to prepare for the next crypto bull market: 5 simple steps

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The next bull market could kick off as soon as next year, propelled by catalysts such as the upcoming Bitcoin (BTC) halving and the potential approval of a spot Bitcoin exchange-traded fund in the United States. In our latest Cointelegraph Report, we explain how to prepare for the next parabolic move in five simple steps. First, it’s important to understand the Bitcoin market cycle theory, which states that crypto bull markets happen roughly every four years following Bitcoin halving events, when the supply of new BTC gets cut in half.…