Month: July 2024

Fees Drop To Lowest Since 2016

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Ethereum, the world’s second-largest blockchain platform, has entered a new era marked by record-low transaction fees. This dramatic shift, the most significant since 2016, has sent ripples of excitement through the cryptocurrency community, raising hopes for increased adoption and a more accessible DeFi (Decentralized Finance) landscape. Related Reading From Pricey To Penny-Pinching Previously, Ethereum’s notorious gas fees, the cost of processing transactions on the network, had become a major barrier to entry. During peak periods in 2021, fees skyrocketed to a staggering 100 gwei, effectively pricing out many users and…

Crypto Custody Firm Anchorage Offers Investment Returns Through Deal With Cumberland-Backed Hashnote

“It’s almost an American tradition at this point to say that there’s more than one way to do it,” he said. “You see this in a variety of angles, whether it’s policing, elections, banking, all of these are kind of intertwined where you’re under a dual sovereign situation, and in many ways it’s like an instantiation of the crypto ethos of decentralization. And I actually think it’s quite beautiful that there’s not just one way that you can answer a particular question.” Source

Crypto Spot ETFs Will Have More Influence on Market’s Price Action: Canaccord

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Bitcoin (BTC) Relief Rally Stalls at $63K as Crypto Price Rebound Faces Hurdles

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Digital asset markets rebounded over the weekend, with the broad market benchmark CoinDesk 20 Index (CD20) climbing more than 4% since Friday midnight UTC. Bitcoin bounced to $63,500 from its Friday dip below $60,000 before faltering and slipping below $63,000 toward the start of the U.S. trading session. July tends to be a positive month for BTC, 10x Research wrote in a Monday update, but any lull over coming months will probably continue as the third quarter is usually the weakest for digital assets. Original

Russia’s sanctioned business union mulls establishing national Bitcoin fund

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Russia’s sanctioned business association considers a national Bitcoin fund to enhance the use of digital financial assets in foreign trade. The Russian Union of Industrialists and Entrepreneurs (RSPP), a sanctioned Russian union representing the country’s wealthiest business figures, is considering launching a national crypto fund to use crypto in foreign trades as Russian business explores options to circumvent Western sanctions. In an interview with Russia’s newspaper Vedomosti, managing director of financial policy and financial markets at RSPP Andrey Lisitsyn said the fund would be based on Bitcoins (BTC) produced by…

Market Confidence Could Quickly Crumble, BIS Warns Indebted Nations

The BIS did not single out any nation in particular but cautioned advanced economies from running fiscal deficits larger than 1% of the gross domestic product (GDP) this year, down from 1.6% in 2023. The warning could not have been more timely as several nations, including the U.S., go to polls this year, where by governments typically boost spending to garner voter support. Source

Bitcoin Technical Analysis: BTC Bulls Test Upper Resistance

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Bitcoin’s price on July 1, 2024, stands at $62,769, with a 24-hour intraday price range of $61,261 to $63,694. The cryptocurrency’s market capitalization is $1.23 trillion, and the 24-hour trade volume is $21.98 billion. Bitcoin Bitcoin’s hourly chart presents a strong upward trend starting from approximately $60,620, peaking at $63,724, followed by a slight decline. […] Original

Will A Breakthrough Ignite A Bullish Run?

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Bitcoin (BTC) is on the brink of a significant price movement as it approaches the crucial resistance level of $64,515. The cryptocurrency asset has been experiencing an upward trend, gaining momentum and investor confidence.  Breaking through this key resistance could act as a catalyst for a major rally, potentially pushing BTC to new heights. Traders and market analysts are closely monitoring this level, as a successful breach could signal a strong bullish phase and attract increased trading activity, further driving up the price. This article aims to provide an in-depth…

Blockchain: A New Battleground in Age-Old Tussle Between Privacy Advocates and Data-Hungry Governments, Says Colored Coins Founder

Although many players in the blockchain industry prioritize maximizing throughput, Alex Mizrahi, co-founder of Chromaway, believes providing users with a transparent, secure, and decentralized computing environment is still equally important. So while blockchain projects aspire to satisfy the basic need to transact, Mizrahi emphasizes that establishing consensus among nodes should not be the sole goal. […] Source CryptoX Portal