Day: December 24, 2023

Bitcoin miners see transaction revenue spike 400% in 2023

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The revenue collected by Bitcoin (BTC) miners as transaction fees in 2023 reportedly averaged about $2 million per day, signifying a 400% jump year over year. Jameson Lopp, co-founder of Bitcoin self-custody platform Casa, shared the data in a Dec. 23 post on X, signifying that Bitcoin miners were finally benefiting from the cryptocurrency’s soaring prices. Lopp says Bitcoin miners raked in almost $2 million on average per day from transaction fees this year. That’s a 400% increase compared to last year. Lopp also shared that BTC miners earned more…

Ethereum long-term holders hit record numbers in December

The amount of Ethereum (ETH) owned by long-term holders has reached a new milestone, hitting 70% since Dec. 1. According to blockchain analytics firm IntoTheBlock, this is noteworthy as it puts Ethereum ahead of Bitcoin (BTC) per the same metric, which hovered just shy of 70%. Some market watchers consider the rise in the proportion of ETH held by these holders as showcasing a conviction in the cryptocurrency’s long-term potential. The record comes amidst predictions that the time for Ethereum to outshine Bitcoin is fast approaching.  On Dec. 23, well-known…

Yellow Card Crypto Exchange pursues licensing in Nigeria

Following the Central Bank of Nigeria’s reversal of the cryptocurrency transaction ban for banks, Yellow Card Exchange, a Pan-African crypto trading platform, is actively seeking licensing in the nation. Yellow Card to expand operations in Nigeria  Yellow Card Exchange, driven by its mission to dominate the African market, is actively exploring strategies to capitalize on the first-mover advantage through the pursuit of licensing. While being a key player in Africa, delivering experiences akin to Jack Dorsey’s Cash App, Yellow Card has faced limitations in Nigeria due to regulatory uncertainties. This…

Bitcoin proponents kick against proposed US crypto ban

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A petition aiming to prevent a proposed crypto ban in the U.S. has garnered attention. The Chamber of Digital Commerce has outlined concerns regarding the Digital Asset Anti Money Laundering Act, introduced by Sen. Elizabeth Warren and endorsed by 19 U.S. senators, as first reported by Bitcoin.com.  Crypto ban petition gaining grounds  The petition entitled “Stop The Crypto Ban,” which was reportedly launched on Change.org by the Chamber of Digital Commerce on Dec. 16, has amassed nearly 10,000 signatures as of the current writing. Described as a “crypto ban,” the…

The Lesson of Langston Hughes’ Christmas in Uzbekistan

On a snowy Christmas morning in 1932, the writer and poet Langston Hughes woke up to find a stocking hanging from the post of his bed. It was stuffed with halva, cashew, and pistachio nuts grown by his hosts, a group of African American agronomists who had been living in Yangiyul, Uzbekistan, at the invitation of the Soviet government. The day was filled with yet more surprises. “We even had pumpkin pie for dessert,” Hughes later wrote in I Wonder as I Wander, his self-described autobiographical journey, “and the tables…

Nigeria lifts crypto ban; Do Kwon; SBF; 3AC

In today’s weekly recap, the focus is on the proliferation of global regulatory efforts, with Nigeria finally lifting its ban on cryptocurrency transactions. Post-implosion developments surfaced, involving Do Kwon, 3AC and Sam Bankman-Fried.  Do Kwon extradition overturned Recall that the Podgorica High Court approved the extradition of Terra founder Do Kwon to either South Korea or the United States. Subsequent reports suggested that the U.S. might be the favorite to receive the former fugitive. While both countries vied to secure custody of Do Kwon, reports from this week confirmed that…

Ethereum (ETH) Lags In Market Cap Growth Despite Positive Year

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According to a report from crypto analytics firm IntoTheBlock, Ethereum has recorded an 85% increase in its market cap over the last year, moving from around $149.18 billion to its current value of $275.98 billion. However, in comparison with other major assets, ETH performance still leaves more to desire, especially considering the many positive developments experienced by the asset in 2023. Ethereum Underperforms Ethereum (ETH) has been one of the major headliners in the crypto space in 2023. The second-largest cryptocurrency and the most prominent altcoin has continued to retain…

Bitcoin funds and active bond plays are potential winners in the year ahead

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The late-year rally in stocks and bonds has created an opportunity for investors to re-evaluate their portfolios at a time when the ETF industry is cranking out new products in areas including active fixed income and, potentially, cryptocurrency. The best performing ETFs in any given year are ultimately a function of what’s happening in the broader markets. Investors should be sure to understand not just how a fund might perform in different market environments, but also how buying it changes their portfolio. That is especially true after the narrow market…

Price Hits Fresh 2023 Peak

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Interest in altcoins, such as Polkadot, has significantly increased as the year draws to a close. After posting an impressive 47% gain in December, Polkadot (DOT) has become a standout performer in the cryptocurrency market. Polkadot Surges 20% In the latest development, the value of DOT has rapidly increased, rising by an impressive 20% in just the last two days. With its breakthrough beyond the $7.9 barrier, the cryptocurrency set a new record for 2023 and demonstrated the growing interest and confidence of investors in Polkadot. Notably, Polkadot’s price structure technical analysis…

Google AI Predicts When XRP Price Will Cross $5

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The price movement of XRP has had its ups and downs this year, reflecting the volatile nature of cryptocurrencies. The crypto has increased by 74% this year, following the general bullish sentiment among cryptocurrencies. XRP went on a noticeable price spike in the middle of the year, although the price increase is currently calm and the cryptocurrency appears to be going through a consolidation phase.  According to a recent analysis by Bard, Google’s AI, XRP’s price trajectory in 2024 is a positive one. Bard noted the various parameters, timeframes, and…