The Cardano network continues to defy expectations and prove its doubters wrong. This time, the network has hit a new milestone, which suggests that users are indeed taking advantage of its smart contract functionality. Cardano Sees Significant Increase In Smart Contract Usage Data from Cardano Blockchain Insights has revealed an increase in the usage of Cardano’s Plutus V1 and V2 scripts. As of January 22, 24,050 smart contracts had been executed using these Plutus scripts. This is impressive, considering that this figure stood at 14,379 at the beginning of this…
Month: January 2024
Bitcoin (BTC) ETFs Show Net Outflows as Buying at BlackRock’s IBIT and Others Slow
According to data collected by Bloomberg Intelligence analyst James Seyffart, the 10 spot bitcoin ETFs (GBTC included) saw a net outflow of $158 million on Wednesday. Day-to-day flows can, of course, be mercurial. Numbers compiled by CoinDesk from the issuers’ websites shows total bitcoin held by all of the spot ETFs (GBTC included) as of Jan. 24 of 642,458 versus 660,540 a week earlier, a decline of more than 18,000 tokens. Original
This is what was behind the bitcoin sell-off and why JPMorgan thinks it could be ending
The driving force behind the recent sell-off in bitcoin may have run its course, according to JPMorgan. Bitcoin rallied in the second half of 2023 as optimism around the approval of exchange traded funds grew, but their debut earlier this month has proven to be a “sell the news” event for the world’s largest cryptocurrency. Bitcoin briefly traded above $49,000 shortly before the funds launched, but then fell more than 20% before seeming to stabilize around $40,000. BTC.CM= YTD mountain Bitcoin has retreated since the approval of bitcoin ETFs. JPMorgan…
$130M Silk Road Bitcoin Stash To Be Sold By US Government
Since mid-January Bitcoin (BTC) has been facing mounting selling pressure from various market players. This includes asset manager Grayscale, bankrupt crypto exchange FTX, and now, the US government, which is set to auction off a substantial amount of Bitcoin seized from the infamous dark web marketplace Silk Road. Sale Of Confiscated Silk Road Bitcoin The US government has filed a notice to sell approximately $130 million worth of Bitcoin confiscated from Silk Road. The filing states that the United States intends to dispose of the forfeited property as directed by…
ETH ETFs Are Inevitable — But When?
As the SEC delays applications from Grayscale and BlackRock, Daniel Kuhn looks at how soon regulators might approve these investment products. Source
U.S. government to sell over $131m in Bitcoin seized from Silk Road
The U.S. District Court of Maryland has issued a notice regarding the disposition of a substantial amount of Bitcoin from the former marketplace Silk Road, totaling over $131 million. This action follows the court’s order in the case of U.S. v. Joseph Farace, where Bitcoin was seized from Ryan Farace and Shaun Bridges in 2021. Ryan France was sentenced to 54 months in prison earlier this year for laundering drug profits over the dark web, along with his father. Bridges was a U.S. Secret Service Special Agent, convicted back in…
Eco acquires stablecoin shopping app Join
With $95 million in funding, Eco plans to deliver on crypto’s promises of mass adoption and reliable decentralized payments inclusive of existing mainstream platforms. Eco, the builders behind Ethereum layer-2 wallet Beam, announced its acquisition of the stablecoin-based shopping app Join to bridge the gap between major merchants like Amazon, Shopify, and crypto users. Beam Wallet from Eco is a self-custody wallet allowing users to make payments on Ethereum L2 networks like Coinbase’s Base and Optimism, with features like account abstraction that unlock advanced security and recovery pathways. The Eco…
This Is When Bull Run Will Peak According To Past Pattern
An analyst has explained when the next Bitcoin bull run peak might appear, if the same pattern as in previous cycles repeats this time as well. This Is What Previous Bitcoin Cycles Suggest Regarding Bull Run Top In a new post on X, analyst Ali has discussed about how the last two Bitcoin bull runs line up against each other and what it could mean for the current cycle of the cryptocurrency. To make the comparison, the analyst has cited a chart that shows the price trend in each of…
Bitcoin looks to be long-term hedge against inflation
The SEC’s nod to Bitcoin ETFs offers a new financial avenue against the backdrop of soaring U.S. national debt. The recent approval of Bitcoin ETFs by the Securities and Exchange Commission (SEC) marks a pivotal moment for cryptocurrencies in the United States. Avik, an analyst for Forbes, articulates that Americans can now purchase Bitcoin as a hedge against a potentially weakening U.S. dollar, which is under strain from the escalating federal debt. The SEC’s decision ensures the longevity of this alternative financial instrument. According to @truflation. US year on year…
Fastest-growing blockchain companies to watch in 2024
We’ve compiled a list of the fastest-growing crypto and blockchain companies to watch closely in 2024. This detailed exploration spotlights the achievements and growth metrics of the fastest-growing blockchain companies, providing insights into their developments throughout 2023. Their growth rates last year have put them on the list of entities to look out for in 2024. Yet, regulatory hurdles, market conditions, and security issues can affect even the top promising firms in the digital currency ecosystem. Fastest-growing blockchain companies Solana With 2,500 to 3,000 developers working on innovative solutions in…