Day: October 23, 2024

Bonk and Popcat prices diverge as their CEX outflows rise

Popcat and Bonk’s prices held steady as sentiment in the cryptocurrency industry waned, with Bitcoin falling to $66,500. Bonk (BONK), the first meme coin on the Solana (SOL) ecosystem, retreated for three consecutive days, reaching a low of $0.000022. It remains 53% below its highest point this year. Popcat (POPCAT) token held steady at $1.40, a few points below its year-to-date high of $1.5600. It has been one of the best-performing cryptocurrencies this year, having surged by 32,200% from its lowest level in 2024. Recent data from Nansen shows that…

Bitfufu Expands to Africa: Acquires 80MW Bitcoin Mining Facility in Ethiopia

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Nasdaq-listed cloud mining services company Bitfufu has announced an agreement to acquire a majority stake in an 80-megawatt (MW) Bitcoin mining facility in Ethiopia. This strategic move marks a significant shift for the company as it transitions from an asset-light strategy to managing a diverse portfolio of Bitcoin mining infrastructure. With this acquisition, Bitfufu’s hosting […] Original

XRP Price Could Face Last Major Crash, Warns Crypto Analyst

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Este artículo también está disponible en español. In a new technical analysis of the XRP price in the weekly chart (XRP/USD), crypto analyst Dark Defender warns of a potential last major crash. The analysis uses the Elliott Wave theory and dives into the historical and projected paths for XRP, marked by critical price levels and wave patterns. Final Crash Ahead For XRP Price? According to Dark Defender, XRP concluded its Wave 1 at a high of $0.9327 in mid July last year, significantly surpassing initial targets set when the price…

Bitcoin Miners Are Pivoting to AI to Survive. Core Scientific Entered the Race Years Ago

Another example: Whether you’re mining bitcoin or running an AI cluster, machines must be cooled to avoid overheating – but the optimal cooling method will depend on the application, Cann said. Most bitcoin rigs are cooled by fans or by being submerged in a pool of dielectric fluid, which comes at little cost. The GPUs used for AI, on the other hand, require some form of air conditioning, or to pass fluid over the machine’s silicon chip – two methods that consume large amounts of energy. Other differences emerge when…

Nigeria Drops Money Laundering Charges Against Ex-US Federal Agent

The Nigerian government has dropped money laundering charges against jailed Binance executive and former U.S. Federal agent Tigran Gambaryan. The Binance executive’s lawyer said the charges were dropped after the court determined that Gambaryan was merely an employee and could not be prosecuted for crimes allegedly committed by his employer. This decision follows months of […] Source CryptoX Portal

Bitcoin Profitability Index Hits 202%: Is This Enough For A Top?

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On-chain data shows the Bitcoin Profitability Index is at 202% right now. Here’s how this compares with past bull runs of the asset. Bitcoin Average Profitability Index Has Been Rising Recently In a new post on X, CryptoQuant author Axel Adler Jr. discussed the latest trend in the Average Profitability Index of Bitcoin. The “Average Profitability Index” is an on-chain indicator that tells us about how the spot price of the asset compares against its realized price. The “realized price” here is a measure of the cost basis of the…