Month: February 2024

16,000 Bitcoin Dormant Since 5+ Years Suddenly Moves, What’s Going On?

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On-chain data shows 16,000 BTC, which have been dormant for 5-7 years, have finally shown some movement on the Bitcoin blockchain. 5-7 Years Old Bitcoin Age Band Has Made A Large Move As pointed out by an analyst in a post on X, a large stack of dormant coins has moved across the network today. The relevant on-chain indicator here is the “Spent Output Age Bands” (SOAB), which keeps track of the movements of the various Age Bands on the blockchain. “Age Bands” here refer to groups of coins divided…

Issuers Set New Record As Weekly Inflows Cross $2.2 Billion

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Bitcoin spot exchange-traded funds have been online in the US for only two months, but their performance has far eclipsed any other asset class. These ETFs recently hit a new milestone, drawing over $2.2 billion in inflows last week alone, shattering the previous weekly record set on the first week of trading. This is a particularly noteworthy development because, as senior Bloomberg analyst Eric Balchunas pointed out, this inflow skyrocketed past the 3,400 plus ETFs available in the US, like the SPLG US and the SPY US.  Bitcoin ETF Inflows…

ETF Inflows Continue to Bolster Bitcoin – Blockchain News, Opinion, TV and Jobs

Bitcoin (BTC) ended the week at approximately $52,150, showing a notable 7.9% increase from the previous week’s closing value of around $48,300. The week began with robust price growth, with BTC reaching its peak trading price of around $52,800 on Thursday, before stabilizing over the weekend within the $51,000 to $52,000 range and ultimately closing slightly above $52,000. Last week marked Bitcoin’s return to trading above $50,000 for the first time in over two years, signaling strong momentum following the approval of BTC ETFs Spot. The last time BTC traded…

The Graph (GRT) Inks 60% Rally As Network Demand Rises

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The past week has seen The Graph (GRT), a project facilitating decentralized access to blockchain data, skyrocket over 60% in price. This impressive rally outshines most major cryptocurrencies and aligns perfectly with the rising interest in artificial intelligence (AI) within the crypto market. GRT has been up for five days in a row, reaching its highest level since May 2022. At its lowest point in 2023, it increased by over 163%. The demand for its network has surged in the last few months, causing the coin to rise in value.…

Blockchain Basics Act Introduced in Ohio, South Carolina, and Mississippi

The Blockchain Basics Act, a series of regulations aimed at safeguarding people’s cryptocurrency rights at a state level, has been introduced in three more U.S. states: Ohio, South Carolina, and Mississippi. With this move, similar cryptocurrency regulation has been introduced in seven states and passed in Missouri. Blockchain Basics Act Regulation Reaches Ohio, South Carolina […] Source CryptoX Portal

Ethereum (ETH) Price Targets $3,500 in the Week Ahead

Ethereum price crossed the $2,900 milestone on Feb. 19, but rising volume of trading activity across the ETH spot markets could propel it even further.  With investors placing bullish bets ahead of Bitcoin ETFs trading hours, is Ethereum price set for the much-anticipated bounce toward $3,500?  Ethereum trading volume crosses $25 billion milestone Ethereum price made another giant stride on Feb. 19 as it crossed the $2,900 territory to bring its gains for February 2024 to the 30% mark. Record-breaking inflows from Bitcoin ETFs and institutional entities in recent weeks…

Sanctioned Bitcoin mining firm BitRiver to launch largest data center for AI in Russia

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BitRiver, a Bitcoin mining company targeted by OFAC sanctions, is set to launch Russia’s largest data center for artificial intelligence (AI) in H2 2024. Bitriver-B, a subsidiary of BitRiver Group, is set to launch the largest data center for energy-intensive computations in Eurasia in the second half of 2024, Russia‘s government news agency Prime reports. The expected capacity of the data center is said to be 100 megawatts, as reported by Sergey Bezdelov, director of the Association of Industrial Mining. “This is the largest facility among all data centers in…