Day: December 7, 2023

Crypto analyst bullish on Dogecoin as crypto market rallies

YouTube crypto analyst Austin Hilton expressed bullish views on the future of Dogecoin. In a video posted on Dec. 7th, which also marked Dogecoin’s (DOGE) 10th birthday, the analyst pointed out that Dogecoin has seen a price increase of over 75% in the last 45 days. “Crazy, crazy good,” he remarked. He believes the current crypto market rally, pushing the total market capitalization to over $1.6 trillion, is fueled by retail money flowing back into significant cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and altcoins. The analyst highlighted the recent 17%…

Bitcoin Whales Driving The Rally Are Now Taking Profits, Data Suggests

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Data shows that the Bitcoin whales that may have been helping drive the latest rally have switched to profit-taking instead. Bitcoin Whales On BitMEX Have Changed Their Tune Recently An analyst in a CryptoQuant Quicktake post explained that the BitMEX whales were likely the ones helping fuel the latest rally. The relevant indicator here is the “Open Interest,” which keeps track of the total amount of Bitcoin derivative positions open on a centralized exchange. When this metric’s value increases, investors are opening up new contracts on the platform. On the…

Harvard scientists claim quantum computing breakthrough

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A team of researchers funded by the United States Defense Advanced Research Projects Agency (DARPA) and led by scientists at Harvard — with support from QuEra Computing, the Massachusetts Institute of Technology, Princeton, the U.S. National Institute of Standards and Technology, and the University of Maryland — claim they’ve created a first-of-its-kind processor that could revolutionize the field of quantum computing. When industry insiders talk about a future where quantum computers are capable of solving problems that classical, binary computers can’t, they’re referring to something called “quantum advantage.” In order to…

Code Is Not (Always) Law

Key to this egalitarian standard has been the idea that the code is the code, and that is what matters most. Judges, regulators and politicians may try to set parameters around what types of financial services can be accessed and by whom, but in crypto, such restrictions cannot apply (except to the extent that centralized companies, like Coinbase, must implement KYC/AML procedures). Source

Bitcoin price continues to drop, but how are pro BTC traders positioned?

Bitcoin (BTC) has experienced a remarkable 15.7% price surge in the first six days of December. This surge has been heavily influenced by the anticipation of an imminent approval of a spot exchange-traded fund (ETF) in the United States. Senior Bloomberg ETF analysts have expressed a 90% probability for approval by the U.S. Securities and Exchange Commission, which is expected before Jan. 10. However, Bitcoin’s recent price surge may not be as straightforward as it seems. Analysts have failed to consider the multiple rejections at $37,500 and $38,500 during the…

Versatus Labs Raises $2.3M to Bring World’s First Stateless Rollup

Stateless roll-up Versatus LASR represents a pure execution environment that relocates compute processes off-chain without the inherent responsibilities or expenses tied to maintaining state and storing data. On Wednesday, December 6, peer-to-peer web services protocol Versatus Labs announced its successful fundraising of $2.3 million with key investors being Republic Crypto and NGC Ventures. The fundraise happens at the company’s valuation of $50 million. Also, it will help the Versatus Labs launch Versatus LASR, the world’s first Stateless Rollup.  Versatus has successfully secured a cumulative funding of $3.7 million, receiving support from…

Babylon Chain closes $18M funding for Bitcoin staking

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Polychain Capital and Hack VC led the $18 million Series A funding round of Babylon Chain, a protocol working on Bitcoin (BTC) staking, bridging the decentralized finance (DeFi) ecosystem with the Bitcoin blockchain.  According to the Dec. 7 announcement, the funds will be used to support the development of Babylon’s Bitcoin Staking protocol, which enables proof-of-stake (PoS) networks to stake BTC, adding liquidity and security to emerging chains. For context, a PoS chain is a type of blockchain that relies on participants to validate transactions. To be a validator and…

Ethereum Whale With Over $60 Million In Unrealized Profits Moves Coins To Exchange

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A dormant Ethereum whale has resurfaced, moving their 39,260 ETH worth approximately $87.5 million. According to data from Lookonchain, this Ethereum whale with almost $90 million in ETH recently woke up and decided to move its mountain of digital assets to an exchange.  Although it is unclear the motive behind this transfer, it appears to be to take profit on a 670% gain over the past five years.  Ethereum Whale Moves 39,260 ETH To Crypto Exchange The crypto market has had another flurry of price increases in the past few…

TON blockchain crippled by Bitcoin Ordinals-style token transactions

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The “most scalable blockchain ever” experienced a spike in activity, causing its network to experience delayed settlements. Transaction per second (TPS) speed on The Open Network (TON) fell as the blockchain buckled under increased usage triggered by a surge of TON20 transactions starting on Dec. 5. TON20 is an inscription standard inspired by the Bitcoin Ordinals protocols and launched by the Tonano team. According to developers, TON could not handle the load due to suboptimal hardware employed by some main network validators. TPS on TON crashed from 100,000 to under…

OpenAI CEO Sam Altman-Backed Crypto Startup Meanwhile Starts Bitcoin (BTC) Private Credit Fund With 5% Yield

“A thriving Bitcoin economy is inevitable, but to realize this future and maximize its potential, robust capital markets are essential,” Zac Townsend, co-founder and CEO of Meanwhile Group, said in the press release. “This private credit fund offers unparalleled potential for institutional investors to unlock the full value of their BTC holdings without compromising their ownership, seizing a unique opportunity for optimized returns.” Source