Month: December 2023

Bitcoin SV surges 30%, BTT and ICP emerge as top cryptocurrency gainers

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Bitcoin SV, BitTorrent, and Internet Computer topped today’s cryptocurrency charts with impressive gains. Bitcoin SV (BSV), a hard fork token from Bitcoin, has climbed 30% today and over 80% in the past week. This remarkable growth in BSV’s value is largely attributed to heightened activity from Korean traders. A significant increase in trading volume on Upbit, South Korea’s largest crypto exchange, has been a key driver. Statistics show Bitcoin SV’s trading volume on Upbit reaching a dominant 66.8%, with a value exceeding $503 million. This trading frenzy has propelled Bitcoin…

Could a bitcoin ETF approval be a sell-the-news event? What investors are expecting on the big day

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Just a couple of weeks from now, the U.S. could have its first spot bitcoin ETF. The excitement around the prospect has been building for months, but the market may be a little overheated now. The chances that the ETF approval will be a sell-the-news event have been getting higher, according to CryptoQuant, which points to the fact that investors have been sitting on high unrealized profits – a trend that historically has preceded price corrections. In this case, bitcoin could correct all the way down to $32,000, the short-term…

A Crypto Christmas Special With Sheraz Ahmed: Past, Present, And Future

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Another year, another Crypto Christmas special for our team at NewsBTC. In the coming week, we’ll be unpacking 2023, its downs and ups, to reveal what the next months could bring for crypto and DeFi investors. Like last year, we paid homage to Charles Dicke’s classic “A Christmas Carol” and gathered a group of experts to discuss the crypto market’s past, present, and future. In that way, our readers might discover clues that will allow them to transverse 2024 and its potential trends. BTC’s price trends to the upside on…

Inscriptions craze buoys zkSync over Ethereum mainnet in 30-day transactions

Ethereum’s network was outclassed by a layer-2 scaling solution in monthly transactions for the first time. zkSync processed more transactions than the Ethereum mainnet in the past 30 days, according to L2beat data. The network recorded 34.7 million transactions within a month, about 500,000 more than Ethereum, which handled 34.2 million in the same period.  Arbitrum’s network came third after zkSync and Ethereum with 31.4 million monthly transactions as of reporting time. Top 3 chains for Ethereum transactions | Source: L2Beat zkSync’s triumph marked the first time an L2 network…

‘Dumb Money’ Will Miss Out, Analyst Cautions

Popular crypto analyst JD, known for predicting XRP’s bottom at the $0.28 price level, has warned of a batch of ‘dumb money’ traders missing on the next XRP price surge. According to JD, this set of traders may overlook the opportunity to get on before the next price surge, drawing parallels to past XRP price action.  Analyst JD Draws Parallels To Past XRP Trends Despite the volatile nature of the crypto market, most cryptocurrencies are known to repeat or mirror past phenomena in their price action. As a result, it…

Bitcoin Price Could Hit $1,000,000 by 2029, Says Perianne Boring

As the crypto market evolves, only time will tell if Bitcoin can truly reach $1 million by 2029, altering how investors view and interact with digital assets. Perianne Boring, founder and CEO of the Chamber of Digital Commerce recently made a bold prediction that Bitcoin‘s price could surge to an astonishing $1,000,000 by 2029. Bitcoin’s Valuation Model and Current Market Price In a recent interview with CNBC, Boring discussed the current market conditions of Bitcoin, suggesting that its actual value might be higher than its current market price. According to…

Chinese Smartphone Producer Xiaomi Launches First EV

The sale of the newly launched Xiaomi EV will officially kick start next year at an undisclosed date. Chinese mobile phone manufacturer Xiaomi has made a foray into electric vehicle (EV) technology with the launch of its Xiaomi SU7, aiming to compete with global brands like Tesla and Porsche. The company’s billionaire co-founder Lei Jun initially teased the inaugural vehicle on Tuesday, noting that the car will be officially unveiled at the XiaomiEVTechnologyLaunch today on December 28. The event is anticipated to last for three hours and Jin plans to…

Hong Kong firm mulls tokenizing 3-ton gold vault amid local ETF boon

Value Partners, a Hong Kong-listed company, is set on issuing blockchain tokens backed by physical gold and filing applications for crypto-related ETFs. According to local media Hong Kong Commercial Daily, the firm plans to tokenize its three tons of gold bars worth an estimated $201 million at current prices.  Value Partners already offers the only Hong Kong gold ETF backed by physical gold and believes digitizing its precious metal with blockchain technology will only improve accessibility for investors.  The move comes after gold hit its all-time high and traded at…