Month: March 2024

Taiwan’s Cryptocurrency Sector Granted Approval for Industry Association Formation

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Taiwan’s Ministry of the Interior has approved the establishment of a cryptocurrency industry association, marking a significant step toward regulating the burgeoning sector. The local cryptocurrency industry working group, which was formed last year to pave the way for the creation of the association, announced on Friday that it had received government approval for its application. The working group is now tasked with finalizing all necessary preparations and officially establishing the cryptocurrency industry association by the end of June, as stipulated by government regulations. Comprising 22 cryptocurrency firms, including prominent…

Dogwifhat (WIF) Flips PEPE As The 3rd Largest Memecoin

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Memecoins are again in the spotlight as some of the most popular dog-themed tokens performed remarkably during this bull cycle. Dogwifhat (WIF), Floki Inu (FLOKI), and Dogecoin (DOGE) have done impressive numbers this month. WIF’s market capitalization skyrocketed to almost $4 billion, surpassing PEPE and taking third place as the largest memecoin in the market by this metric. Hats On, Is WIF Going To The Moon? Yesterday, WIF’s price increased 32% in half a day, setting a new all-time high (ATH) of $4. Simultaneously, its market capitalization jumped from $3.04…

Bitmain Reveals S21 Pro Bitcoin Miner: Pioneering 15 Joules per Terahash 

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On Friday, the producer of bitcoin-specific application-specific integrated circuit (ASIC) mining equipment, Bitmain, unveiled the latest Antminer S21 Pro model during the World Digital Mining Summit (WDMS). This new device features a hashrate of approximately 234 terahash per second (TH/s) and boasts a much lower energy efficiency of 15 joules per terahash (J/T). New Antminer […] Original

LTC eyes $150 ahead of Bitcoin Halving

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Litecoin’s price reached an eight-month peak of $106.2 on March 29, and recent trends observed among miners and speculative traders suggest more gains ahead. On March 29, Litecoin emerged as the best-performing asset in the top 20 crypto market rankings after scoring 12% gains within a frenetic 12-hour period. On-chain data trends pinpoint the key drivers behind the ongoing Litecoin price breakout and how speculative traders have positioned their bets on LTC for the coming days. Litecoin miners leading the rally Litecoin’s price has been spiraling downward since the completion…

Crypto Expert Predicts Massive Shiba Inu Run As Price Mirrors 2021

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Crypto expert Rekt Capital has suggested that Shiba Inu (SHIB) could follow a similar trajectory to its move back in 2021. If so, this sets up the crypto token for a parabolic move that could see it hit its all-time high (ATH) and even surpass it.  2024 Shiba Inu To Mirror 2021 Action Rekt Capital mentioned in an X (formerly Twitter) post that SHIB’s retest was successful and that history was repeating itself. According to him, SHIB needs to break above the $0.000033285 price range to begin its uptrend continuation.…

UK Judge Freezes Craig Wright’s Assets Worth $7M Amid Satoshi Nakamoto Identity Dispute

After Judge James Mellor in the U.K. rendered his decision in the notable lawsuit initiated by the Crypto Open Patent Alliance (COPA) against Craig Wright, he concluded that Wright did not embody the persona of the pseudonymous Satoshi Nakamoto. Subsequently, Mellor enforced a worldwide injunction on Wright’s holdings, freezing assets valued at £6.7 million (approximately […] Source CryptoX Portal

Coinbase Sees Largest USDC Inflow Ever, What This Could Mean For Bitcoin

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On-chain data shows Coinbase has just witnessed its largest USD Coin (USDC) inflow. Here’s why this may be relevant for Bitcoin. Coinbase Has Just Seen A $1.4 Billion USDC Inflow As pointed out by analyst Maartunn in a post on X, a large amount of USDC has flowed into Coinbase during the past day. The on-chain indicator of interest here is the “exchange inflow,” which keeps track of the total amount of a given asset entering into the wallets associated with a centralized exchange or group of platforms. A spike…

Bitcoin futures open interest hits record $36b before options expiry

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Bitcoin futures open interest surged to over $38 billion today, as BTC price increased 10% over the week.  The surge reflects growing investor interest and speculative activity around Bitcoin’s future price movements. Binance, the world’s leading cryptocurrency exchange, reported its highest BTC open interest to date, at $8.4 billion. BTC futures open interest | Source: Coinglass Record-setting open interest in Bitcoin futures comes as $15.1 billion worth of Bitcoin and Ethereum options are set to expire, potentially leading to increased volatility. Options expirations often trigger significant price movements as traders…

Bitcoin Futures Open Interest Hits Record $37.55 Billion With CME Leading the Pack

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On Friday, March 29, 2024, the combined open interest in bitcoin futures reached a new all-time peak of $37.55 billion. This uptick occurs amid buoyant bitcoin markets and a growing attraction from institutional investors. Bitcoin Futures Open Interest Reaches Unprecedented $37.55 Billion Since the close of 2023, interest in bitcoin (BTC) derivatives has escalated, reaching […] Original