Day: December 6, 2023

Debate Over Censorship and Innovation Ignites in Blockchain Communities

Solana, the layer-1 smart-contract blockchain, has seen its SOL token jump sixfold this year, vastly outperforming its dominant rival, Ethereum, whose ether (ETH) is up just 92%. According to the digital-asset analysis firm Messari, the gains for Solana have coincided with signs of strong transactional activity on the network: Weekly active addresses on Solana have now returned to levels prior to last year’s collapse of Sam Bankman-Fried’s FTX crypto exchange. (Bankman-Fried was a major Solana booster.) Solana’s total value locked, or TVL – a key metric when evaluating a blockchains…

Is Bitcoin Overvalued Yet? What Historical Data Suggests

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Here’s what the data of this historical on-chain indicator suggests regarding whether Bitcoin has become overvalued after its latest uptrend. Bitcoin MVRV Z-Score Hasn’t Climbed Too High Yet As the Reflexivity Research co-founder pointed out in a post on X, the BTC MVRV Z-Score readings have heated up little compared to the values observed in past bull runs. The “Market Value to Realized Value (MVRV) ratio” is an indicator that measures the ratio between the Bitcoin market cap and the realized cap. The “realized cap” refers to a capitalization model…

Moody’s launches quantum-as-a-service platform for finance

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According to the Moody’s Analytics website, QFStudio is a software-as-a-service (SaaS) offering that will serve as “a continuous integration, benchmark, and delivery platform” for quantum computing solutions. Quantum computing for finance The burgeoning quantum computing sector is expected to experience steady growth over the next few decades. A recent forecast predicted that quantum computing technologies would grow from a market capitalization in the United States of about $138 million in 2022 to $1.2 billion by 2030. Currently, most of the focus in quantum computing is on research and development. Companies…

Price analysis 12/6: BTC, ETH, BNB, XRP, SOL, ADA, DOGE, AVAX, LINK, TON

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Bitcoin is witnessing profit-booking by short-term holders, but institutional investors continue to put money into BTC investment products. Bitcoin (BTC) has been on a tear, rising more than 10% this week. This shows that traders are urgently scrambling to buy Bitcoin as they anticipate the price to rally further. CoinShares data shows that investors have pumped in more than $1.44 billion into Bitcoin investment products in the past ten weeks. The expectation is that the approval of a spot Bitcoin exchange-traded fund (ETF) will attract huge investments. Animoca Brands CEO…

Bitcoin’s path to $69k hinges on post-ETF volume

QCP Capital attributes Bitcoin’s price surge primarily to developments surrounding the much-anticipated spot ETF. The cryptocurrency market is witnessing another dramatic surge in Bitcoin prices, with a remarkable 15% increase since the start of December. This uptick contributes to a significant 158% gain year-to-date for the leading token.  The catalyst for this latest surge was the SEC’s announcement on Dec. 1, stating that Jan. 5 would be the final deadline for rebuttal comments on spot ETFs. This timeline sets up the following week for probable approval, a development eagerly awaited…

Former FTX US President Says Bitcoin Spot ETF Will Come In 2024, Gives Price Targets

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Former FTX US President Brett Harrison recently had an interview with Cointelegraph Magazine. As part of the discussion, Harrison gave his thoughts on when a Spot Bitcoin ETF will be approved and the possible price level the foremost crypto token could attain when this happens.  A Spot Bitcoin ETF Could Be Approved In Q1 of 2024 Harrison is said to have mentioned that there is a very “high probability” that the Securities and Exchange Commission (SEC) will approve a Spot BTC ETF in the first quarter of 2024. His prediction…

Bitcoin Core’s ‘v26.0’ Upgrade Aims to Impede Eavesdropping, Tampering

“This proposal for a new P2P protocol version (v2) aims to improve upon this by raising the costs for performing these attacks substantially, primarily through the use of unauthenticated, opportunistic transport encryption,” according to the proposal. A key benefit is that “encryption, even when it is unauthenticated and only used when both endpoints support v2, impedes eavesdropping by forcing the attacker to become active.” Source

Avalanche’s AVAX and Helium’s HNT Lead as Bitcoin (BTC) Takes Breather

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Hong Kong regulator blocks access to two crypto entities, warning of fraud

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The Securities and Futures Commission (SFC) of Hong Kong has issued a warning related to suspected fraud involving crypto entities Hong Kong Digital Research Institute and BitCuped. In a Dec. 6 notice, the SFC said the Hong Kong Police Force had blocked access to the websites of BitCuped and Hong Kong Digital Research Institute — also known as HongKongDAO — claiming users could be fooled into making illegitimate investments. The regulator also issued cease and desist letters to the firms’ website operators. “The SFC suspects HongKongDAO may be disseminating false…