Microstrategy Chairman Says Bitcoin Is Superior to Other Asset Classes — Expects Capital to Keep Flowing Into BTC

Microstrategy’s executive chairman, Michael Saylor, sees bitcoin as “the strongest asset.” He believes that capital is going to keep flowing from other asset classes, such as gold and real estate, into bitcoin because the cryptocurrency is “technically superior to those asset classes.” He emphasized that bitcoin is an exit strategy and Microstrategy has no plan […] Original

Riot Platforms Bitcoin mining output surged by 19% in 2023

Riot Platforms, a Bitcoin mining company, reported a 19% increase in Bitcoin production for 2023, mining a total of 6,626 BTC. The cost of mining Bitcoin in 2023, after factoring in power credits allocated to self-mining, averaged $7,539 per Bitcoin. This marks a 33% decrease from the $11,225 average in 2022. Riot Platforms’ revenue surge Jason Les, CEO of Riot Platforms, unveiled the company’s exceptional performance in 2023, highlighting it as another significant milestone in the company’s journey as a vertically integrated Bitcoin (BTC) miner. Les touted total revenues of…

Curve Finance unveils new defi lending contracts

Curve Finance‘s decentralized finance (defi) expansion plans highlight the deployment of new lending contracts, enabling arbitrage traders to capitalize on profitable trading opportunities. Curve rolls out new lending contracts The introduction of lending contracts by Curve Finance opens up new avenues for arbitrage traders, presenting them with the opportunity to potentially secure substantial profits. The deployment of these lending contracts signifies Curve’s entry into the competitive defi lending market. By allowing users to lend their assets through smart contracts, Curve is diversifying its offerings and providing its users with more…

Legal Action Forces US Energy Department to Suspend Crypto Mining Investigation

Following legal action initiated by Riot Platforms and the Texas Blockchain Council against the U.S. Department of Energy (DOE), the department’s statistical branch, the Energy Information Administration (EIA), has put a temporary hold on its bitcoin mining survey and quarantined the data gathered to date. DOE Puts Bitcoin Mining Inquiry on Hold Amid Legal Challenges […] Source CryptoX Portal

Satoshi explains why BTC is more energy-efficient than banks

Emails from Satoshi Nakamoto, the pseudonymous — and mysterious — Bitcoin (BTC) inventor, believed the digital asset would use less energy than the traditional banking system. That’s according to a recently published email exchange between Satoshi and long-term collaborator Martti ‘Sirius’ Malmi (the authenticity of the emails is yet to be confirmed). The two crypto innovators lay bare the developing thought processes and technical challenges addressed during Bitcoin’s initial stages. NEW: Satoshi Nakamoto’s earliest collaborator Martii ‘Sirius’ Malmi just released their entire email history. At 120 pages, its the most…

Bitcoin (BTC) Witnesses Largest Weekly Net Outflow off Centralized Exchanges in Eight Months: IntoTheBlock

Bitcoin (BTC) flew off centralized exchanges this week at its highest level since June 2023, according to the crypto analytics firm IntoTheBlock. In a new analysis, Lucas Outumuro, IntoTheBlock’s head of research, tracked the top crypto asset’s netflows, which measure the Bitcoin moving in and out of centralized crypto exchanges by subtracting the amount of BTC’s withdrawals from its deposits. Outumuro notes that $540 million worth of Bitcoin netflows left centralized crypto exchanges this week, the largest weekly net outflow total in eight months. IntoTheBlock interprets the movement of BTC…

Bitcoin’s Scalability Foreseen by Satoshi Nakamoto to Outpace Visa, Historic Email Reveals

This week, crypto enthusiasts and historians alike have found themselves enraptured by the wealth of newly released emails from Satoshi Nakamoto, uncovering the visionary’s early efforts with Bitcoin. Specifically, one email, identified as number #3, offers unparalleled glimpses into Nakamoto’s considerations regarding Bitcoin’s scalability, economic framework, and prospects. Emails Suggest Satoshi Nakamoto Was Quite Confident […] Original

Web3 advisor Coinsilium to guide LC Lite in token launch

Web3 advisor Coinsilium Group Ltd. has inked a deal with global trade exchange platform LC Lite, steering the ship for its upcoming token launch. The collaboration aims to integrate distributed ledger technology (DLT) features into LC Lite, to enhance marketplace liquidity and foster stability in cross-border export financing. Coinsilium’s strategic advisory services come to the forefront as LC Lite, which was recently acquired by Incomlend, aligns itself with the Web3 advisor. Incomlend, a company focused on addressing loopholes in the global trade finance ecosystem, has joined forces with LC Lite.…

Solana Drops Below 100-Day MA On 4-Hour Chart, SOL Price In Danger?

Having failed to break its previous high for the year, the price of Solana has continued to move downward. From the height of $118.88, the coin, which is currently ranked 5th in the crypto space with a total supply of 440,961,455 SOL and a market capitalization of $58.2 million,  has made a drop of over 25% and is not showing any signs of stopping. As of the time of writing, the price of SOL was up by 2.76% and trading around $102.63, below the 100-day moving average in the last…

Stablecoin Market Jumps by Over $2.5 Billion in 10 Days, Led by Rise in Key Players

In the opening fortnight of February, the stablecoin domain expanded by $1.7 billion, marking a significant rise. The value of the fiat token crypto market has once again risen witnessing an increase exceeding $2.5 billion over the past ten days. Specifically, three stablecoins have driven this upswing, with the stablecoin ethena usde at the forefront […] Source CryptoX Portal