Day: December 29, 2023

Bitcoin Erases Recovery As Miners Cash Out 3,000 BTC

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On-chain data shows the Bitcoin miners have participated in a 3,000 BTC selloff recently, something that may explain the asset’s latest pullback. Bitcoin Miner Reserve Has Taken A Plunge Recently As pointed out by analyst Ali in a new post on X, the BTC miners have participated in some selling recently. The indicator of interest here is the “miner reserve,” which keeps track of the total amount of Bitcoin sitting in the wallets of all miners. When the value of this metric goes up, it means that the miners are…

Bitcoin Miners Offload $129M BTC in Day, Sending Reserves to the Lowest Point Since May

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Hive Digital Secures $22M in Funding for Bitcoin Mining Operations

On December 28, the company announced that its fleet of 3,750 Bitcoin ASIC miners, purchased last year, had already generated profits due to the surge in the coin’s price. Canadian Bitcoin mining company Hive Digital has recently concluded a successful $22 million private financing round. The company achieved this milestone through the sale of 5.75 million special warrants at a price of $3.87 each, resulting in total proceeds of $22 million. This financing round will enable the company  to support the growth of its Bitcoin mining operations, as well as…

Solana Overtakes Ethereum in Google Search Interest

In terms of regional search, Google Trends revealed that countries such as Spain and the Philippines took the lead. People in these nations recorded more users searching for the term Solana than Ethereum.  In 2023, searches on Google for “Solana” surpassed those for “Ethereum” for the first time since the launch of both cryptocurrencies in 2020 and 2015, respectively. The move comes after the digital asset flipped XRP as the fifth largest crypto in the world, according to market capitalization on December 21. The Proof-of-Stake (PoS) protocol continued its upward…

Storj (STORJ) Wyckoff Analysis (11 to 20 Dec 2023)

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Wyckoff Analysis (WA) aims to understand why prices of stocks and other market items move due to supply and demand dynamics. It typically is applied to any freely traded market where larger or institutional traders operate (commodities, bonds, currencies, etc.). In this article we will apply WA to the cryptocurrency Storj ($STORJ) to make a forecast for approximate future events. Storj Price Data from MEXC Futures | Source: STORJUSDT.P on tradingview.com. Link to the raw image: https://www.tradingview.com/x/BGsOkzGM Storj is currently in Phase E of a Wyckoff Distribution Schematic #1. StockCharts…

PancakeSwap Community Votes to Cut CAKE Token Supply by 300M

A staggering 98% member of the PancakeSwap community voted in favour of reducing the CAKE supply by 300 million resulting into a strong surge in the CAKE price. PancakeSwap, a prominent decentralized exchange, has successfully concluded a proposal to reduce the maximum supply of its native token CAKE from 750 million to 450 million, garnering nearly 98% of votes in favor. The multi-chain decentralized exchange initiated the voting process on Thursday, presenting a proposal to decrease CAKE’s maximum token supply. Also, the voting period has concluded, revealing a decisive 97.88%…

Can BSV Hold Its New 2023 Peak? Analysts Watch

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The Bitcoin Cash (BCH) blockchain’s hard fork, BSV, has been making record-breaking gains. With a price surge of more than 70% as of this writing, the cryptocurrency hit $84.8, a level not seen since April 2022. The spike may be attributed to the prevailing optimistic market sentiment, however there are other factors at play for Bitcoin SV. BSV’s Surge: South Korea Dominates With this latest surge, BSV’s monthly gains have surpassed 82%, and its trading volume has risen noticeably to over $770 million. This rise appears to be influenced by…

Singapore’s prime minister issues warning following deepfake crypto video with him

Singapore’s prime minister Lee Hsien Loong warned the public about a deepfake video, depicting him promoting a crypto scam ‘envisioned by Elon Musk.’ In an X post on Dec. 29, Singapore‘s prime minister Lee Hsien Loong has issued a public warning that addressed the emergence of deepfake videos depicting him promoting crypto scams with the help of artificial intelligence (AI) to mimic his voice and image. Recently, there have been a number of audio deepfake videos that use AI technology to mimic my voice to promote crypto scams. If you…

OKX Delisting Privacy Tokens in 2024

OKX has announced that it is deleting 11 trading pairs. These changes will go into effect from early January 2024. For years, privacy tokens have been controversial in the crypto industry. Privacy tokens are cryptos that cannot be traced and offer complete anonymity for those who use them. Some see them as useful and necessary for preserving the privacy of users and others see them as dangerous. Now, the popular crypto exchange OKX has announced that it will be delisting several privacy tokens in the new year, including Monero. These…