Day: May 6, 2024

Nostr and X Get a Nod as Jack Dorsey Exits BlueSky

Dorsey, in a post on X on Saturday called upon his followers to use “freedom technology” such as X, and to not depend on corporations “to grant you rights.” He said something very similar on Nostr, the open source protocol aimed at enabling a fully decentralized, censorship-resistant social media experience, where he’s been very active in past weeks and to which in 2022 he donated 14 bitcoin (worth about $245,000 at the time) to the protocol’s founder. Source CryptoX Portal

Bitcoin Relative Open Interest Lowest Since Feb, Analyst Says “Hard To Be Bearish”

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Data shows the Bitcoin Open Interest as a percentage of its market cap has been at lows recently, a sign the derivatives side has been healthy. Bitcoin Open Interest Is Now Less Than 2% Of The Market Cap As explained by analyst James Van Straten in a new post on X, the derivatives side of the market has looked “extremely healthy” while BTC’s latest recovery has occurred. The metric of interest here is the “Open Interest,” which keeps track of the total amount of derivatives-based Bitcoin positions that are currently…

Bitcoin whale moved $43m in BTC for 1st time in 10 years

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A Bitcoin whale that has been dormant for over 10 years moved 687 BTC worth $43 million. According to Lookonchain data, the whale received 687.33 Bitcoins (BTC) on Jan. 12, 2014, valued at around $630,000 at the time when BTC’s price was $917. A wallet that has been dormant for 10.3 years transferred all 687.33 $BTC($43.94M) out 10 mins ago. The whale received 687.33 $BTC($630K at that time) on Jan 12, 2014, when the price was $917. Address: 15WZNLACuvcDrrBL2btDErJggnaMQtHh5G pic.twitter.com/tEPqM0CrrK — Lookonchain (@lookonchain) May 6, 2024 A decade later, the value of Bitcoin…

Here’s Why This Crypto Analyst Believes Bitcoin Is At A ‘Prime Buy Zone’

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Crypto analyst Ali Martinez has revealed that it may still be an excellent time to accumulate Bitcoin. This comes amidst the flagship crypto’s recent price recovery, with the crypto token skyrocketing above $64,000.  Bitcoin Is Still In A “Prime Buy Zone” Martinez mentioned in an X (formerly Twitter) post that Bitcoin’s Market Value to Realized Value (MVRV) 90-day ratio indicates that it is still in a “prime buy zone” despite its recent price surge from $57,000 to $64,000. The MVRV is a metric used to determine whether a crypto token…

Arif Khan on the Future of Crypto-AI

For Khan, decentralized AI is more than hype and more than abstract and more than a fashionable trend — it’s critical and it’s the future. And it can make our daily lives easier. ”I think in five years, we will have autonomous on-chain AI agents doing crypto transactions, and managing a large part of our lives,” predicts Khan. “In 5 to 10 years, managing our financial life, our emails, and the administrative hassle of things like paying bills. That can be done on-chain and natively.”Arif Khan, CEO of Alethea AI,…

Bitcoin jumps above $65k amid Fed report, ETF inflows

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Bitcoin’s price has surpassed $65,000 after the cryptocurrency dropped below $57,000 last week. Bitcoin (BTC) reached $65,500 at the moment, but according to CoinMarketCap data, it had fallen again to $63,500 at the time of writing. Source: CoinMarketCap The coin’s asset dominance regained some positions alongside a BTC price jump. The indicator reflects the share of Bitcoin’s market capitalization in the total market capitalization of all cryptocurrencies, reaching 54.8%. In addition, the Fear and Greed Index has risen two basis points over the past 24 hours. Source: Alternative.me The last…

90% Of Stablecoin Transactions Not Driven By Human Users

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In a recent report by Bloomberg, it has been revealed that more than 90% of stablecoin transaction volumes do not originate from genuine users, according to a new metric co-developed by Visa. Stablecoin Market Faces Data Reality Visa and Allium Labs have created a dashboard designed to filter out transactions initiated by bots and large-scale traders to isolate those made by real individuals. Out of approximately $2.2 trillion in total transactions recorded in April, a mere $149 billion was identified as “organic payments activity” by Visa. The data challenges the…

Ransomware payments down 50% in 2023

Blockchain forensics firm Chainalysis says ransomware attacks involving payments decreased by 46% in 2023. As the ransomware market becomes increasingly saturated with new schemes due to lower barriers-to-entry, executing profitable attacks involving crypto payments has become a challenging thing, according to a new blog report from Chainalysis. Ransomware payments vs the amount of incidents | Source: Chainalysis The blockchain intelligence firm says the 46% drop in ransomware payments can be partly attributed to “enhanced cyber resilience among organizations,” adding that companies now possess a better understanding of the threats they…