Day: April 12, 2024

AI Altcoin Project Lands on Crypto Exchange Binance in Surprise Listing

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An altcoin project focused on digital commodities and artificial intelligence (AI) is witnessing volatility after a surprise listing on Binance. The top global crypto exchange says it’s officially rolled out trading services for Bittensor (TAO). The announcement triggered a 9% surge in the asset to a high of $627.52 on Wednesday, before the coin dropped to $548.20 following Bitcoin’s big pullback to as low as $65,771. Bittensor is a decentralized blockchain platform that focuses on machine learning and AI. The open-source project enables users to produce digital commodities in distinct…

A Single Custodian Oversees Nearly Half of Bitcoin’s Block Rewards

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Onchain data indicates that a single custodian now manages the coinbase addresses for at least nine prominent mining pools, which collectively account for 47% of Bitcoin’s total hashrate. The analysis shows that substantial miners’ rewards from pools like F2pool, Antpool, Binance Pool, and Braiins are being funneled to this particular custodian. Onchain Data Reveals Single […] Original

Will The Halving Send Bitcoin Price To $100,000? Analytics Platform Reveals What You Should Expect

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Hannah Phung, a lead analyst at on-chain analytics platform SpotOnChain, recently gave her opinion on the impact that Bitcoin Halving could have on the flaghsip crypto’s price. This adds to the ongoing debate on whether or not the Halving event could cause Bitcoin’s price to rise to $100,000.  Bitcoin’s Price Surge Might Not Come Immediately Phung mentioned during an interview with BeInCrypto that Bitcoin’s price tends to increase around 6 to 12 months after the Halving and not immediately. This is evident from the past Halving events, as Bitcoin’s significant…

Bitcoin drops to $65k, crypto market nears to $900m in liquidations

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Bitcoin has decreased by nearly 5%, reaching $65,000 for the first time in a week, as the overall crypto market capitalization dropped 7%. Ethereum’s price has also experienced liquidation, as the largest altcoin dropped 8.5% in 24 hours. According to Coinglass, more than 277,000 traders liquidated assets worth $877.79 million in 24 hours. The BTC decline is likely being driven by a pre-halving pullback and miner capitulation. There is a familiar anticipation that the halving will lead to a larger bull cycle for Bitcoin. A pullback generally occurs when traders start taking…

5 Million Long-Term Holders Signal Major Market Shift

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Recently, reports from IntoTheBlock revealed that the Litecoin (LTC) network has exceeded five million long-term holders. This achievement represents approximately 62.5% of all LTC addresses with a balance, underscoring Litecoin’s widespread adoption and long-term viability within the crypto community. Rising Long-Term Holder Trend Signals Optimism  The surge in long-term holders has been particularly noticeable in recent months, underscoring a growing inclination towards holding LTC for quite a long time. In February’s closing days alone, the number of long-term holders soared by 170,000, signaling robust investor confidence in Litecoin’s long-term prospects.…

Stablecoin Market Expands by $4.46 Billion in 12 Days

In the last 12 days of April, the stablecoin sector expanded by $4.46 billion, reaching a current valuation of $155.86 billion. Additionally, the top five dollar-pegged cryptocurrencies experienced an increase in their supplies over the last 30 days. Top Dollar-Pegged Cryptos See Growth Amid April’s First 12 Days As of Friday, April 12, 2024, the […] Source CryptoX Portal

Traders Forecast Rally, Why Is Sentiment “Down”?

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Bitcoin’s correction at the start of Q2 dragged down the Altcoins market, and a “gloomy” sentiment appears to surround investors despite Q1 2024 registering one of the best performances for the crypto market. As prices recover momentum, traders and analysts suggest a brighter future might be around the corner. Altcoins Next Stop: Altseason? On Friday, some traders shared optimistic forecasts for altcoins. According to investor Crypto Jelle, the altcoin market cap chart “looks primed to go on a massive rally in the coming months.” The investor highlights the similarities between…

Why Bitcoin Halving Calculators Are Out of Sync

The Bitcoin halving is scheduled to occur every 210,000 blocks, or roughly every four years. This particular event will be executed automatically by the network at exactly blockheight 840,000. Based on the way Bitcoin’s creator Satoshi Nakamoto designed the system, bitcoin miners “find” the next block to hash to the blockchain every 10 minutes, meaning it should be easy to figure out precisely when the next halving should happen down to the minute. Source