Day: February 22, 2024

Analyst Predicts Price To Soar To $500,000

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As Bitcoin makes its way through the erratic waves of the cryptocurrency market, crypto analysts are still bullish about the asset, predicting BTC to reach unprecedented heights in the long run.  Bitcoin To Reach $500,000 In The Long-Term Bitcoin is currently in the spotlight as crypto expert Michael Van De Poppe has shared a bold prediction regarding BTC’s future with the community on the social media platform X (formerly Twitter).  According to Poppe, Bitcoin is presently experiencing an “overly bullish sentiment” from market participants within the cryptocurrency space. Due to…

Bitcoin Price Rally at Risk at Miners Offload $8.2B BTC

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Bitcoin’s price tumbled to a weekly low of $50,664 on Feb. 21, narrowly avoiding massive liquidations; on-chain data analysis pinpoints the likely causes of the recent pullbacks.  After a remarkable 27% February uptick that saw Bitcoin (BTC) hit a 3-year peak of $52,985 on Feb. 20, Bitcoin is struggling to maintain momentum.  With miners ramping up profit-taking ahead of the upcoming halving event, a decline in ETF inflows threatens to scuttle the BTC price rally.  Bitcoin miners sold BTC worth $8.2 billion in previous 30 days Bitcoin price dipped $50,664…

Sustainable Energy Usage Surges To Record 55% High

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Bitcoin, the enigmatic cryptocurrency known for its volatile price swings and digital gold status, is making a surprising play for a new title: sustainability champion. A recent analysis by Bitcoin environmental impact expert Daniel Batten reveals a remarkable surge in renewable energy use for mining, reaching a staggering 55%. This marks a significant shift from just four years ago, when the figure languished below 40%, and paints a picture of an industry undergoing a green metamorphosis. From Carbon Culprit To Clean Crusader? Bitcoin’s mining process, essential for creating new coins,…

DeFi Startup Euler Finance Bounces Back with Revamped Lending Vaults

Following the Lego-like power principle of DeFi, the new system combines building blocks like Euler Vault Kit (EVK), which empowers builders to deploy and chain together their own customized lending vaults in a permissionless manner, and an Ethereum Vault Connector (EVC), which enables vaults to be used as collateral for other vaults, the company said in a press release. Source

Startale Labs Secures $3.5M in Funding to Boost Web3 Innovation; Gains Support From Samsung Next and UOB

Startale Labs disclosed this week that it has garnered an additional $3.5 million in funding from UOB Venture Management. This latest seed funding round elevates the startup’s total investment to $7 million, which is earmarked for enhancing the firm’s Web3 offerings. Startale Labs Bags $3.5M Capital Injection From UOB Startale Labs, known for spearheading initiatives […] Source CryptoX Portal

Eigen Labs, Developer Behind Restaking Protocol EigenLayer, Raises $100M From A16z Crypto

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Is Ripple Dumping Millions Of XRP? CTO Addresses Reasons Behind $34 Million Transaction

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Ripple has always been subjected to claims of manipulating the price of XRP and its natural growth by selling coins. As the cryptocurrency’s largest holder, Ripple has faced constant criticism about the amount of XRP it holds, with detractors arguing it gives them too much control and influence over the price.  Particularly, there’s been some drama swirling around the altcoin lately and claims that Ripple has been manipulating the market and systematically dumping its large holdings. This has come in light of a large transfer of 60 million XRP tokens…