Category: Other Crypto News

Optimism (OP) Climbs 6% A Day As Crypto Market Rebounds

boss

Optimism (OP) has posted notable gains today, October 2, trading at $1.45, with a 5% increase in the last 24 hours. Furthermore, its price has gained 15% in the last seven days.  OP’s rise coincides with the improvement in the general crypto market, which showed a remarkable recovery. However, whether OP will sustain the ongoing rally remains to be seen. But a close look at a few technical indicators may provide vital insights into its next price moves.  OP Approaches Overbought Zone As Buyers Sustain Rally OP continues to show…

BTC price knocks on $28.5K as trader says Bitcoin ‘reeks of disbelief’

boss

Bitcoin (BTC) aimed for $28,500 at the Oct. 2 Wall Street open as a bullish start to the month continued. BTC/USD 1-day chart. Source: TradingView Analyst wary of Bitcoin “upside wick” fakeout Data from Cointelegraph Markets Pro and TradingView showed BTC price action staying strong into October’s first United States trading session. The largest cryptocurrency made swift gains into the weekly close, this following a contrastingly cool monthly candle completion which saw BTC/USD finish on $26,970. For popular trader and analyst Rekt Capital, this monthly close — despite now being…

Bitfarms increases mining pace, generates 411 BTC in September

boss

The Canadian Bitcoin (BTC) mining firm Bitfarms has been actively scaling operations, significantly increasing the amount of mined BTC last month. Bitfarms mined a total of 411 BTC in September 2023, up 7.3% from the amount mined in the previous month, the company announced in its latest mining update on Oct. 2. Out of 411 BTC mined, Bitfarms sold 362 BTC, generating total proceeds of $9.5 million. The firm continues to hold 703 BTC — worth nearly $20 million at the time of writing. The mining production increase is a…

Analysts Reveal Forecasts For October As BTC Price Pushes Past $28,000

boss

Analysts have unveiled their forecasts for October as the Bitcoin (BTC) price has pushed past the $28,000 mark. The cryptocurrency is currently experiencing an upward trajectory in October, firing up hopes for a productive month. Analysts Predict A Bullish Run For Bitcoin Price In October The month of October also referred to as Uptober in the crypto community has always been a bullish month for Bitcoin with a lot of gains. The cryptocurrency has always finished October with gains, doing so 8 of out 10 times since 2013. According to…

What happens when cloud meets Web3?

boss

Cointelegraph’s Hashing It Out podcast talks to Howie Jiang, Web3 chief solution architect at Tencent Cloud Europe, and Fakhul Miah from Elastos about how crypto can take advantage of cloud technology. The two firms recently announced a partnership to “accelerate the Web3 space.“ Tencent Cloud, a popular global cloud vendor, is betting heavily on Web3 with operations in 27 regions and multiple projects related to Web3. Jiang highlights the firm’s experience with Web3 and explains that the cloud company wants to expand overseas after working with nonfungible tokens (NFTs) and other blockchain…

IMF working paper proposes country-level assessment matrix for crypto risks

boss

A working paper published by the International Monetary Fund (IMF) proposed a count vulnerabilities and potential policy responses for the crypto sector.  On Sept. 29, the IMF published a working paper titled “Assessing Macrofinancial Risks from Crypto Assets.” Within the paper, authors Burcu Hacibedel and Hector Perez-Saiz proposed a crypto-risk assessment matrix (C-RAM) for countries to spot indicators and triggers of potential risks in the sector. The matrix also aims to summarize regulators’ potential responses to the risks it could identify.  The matrix includes a three-step approach. The first step…

BIS Chief Calls On Central Banks To Prepare

boss

Central banks worldwide must be proactive in adapting to the fast-evolving crypto landscape, urged Cecilia Skingsley, the head of the Innovation Hub at the Bank for International Settlements (BIS).  Speaking at the New York Fed Conference on Fintech: Artificial Intelligence and Digital Assets in Manhattan, Skingsley emphasized the need for central banks to embrace technological advancements, including cryptocurrencies and tokenization. Skingsley highlighted the distinctive approach of the BIS Innovation Hub, which focuses on researching and investigating the impact of new technologies on central bank operations. Unlike other institutions, the Innovation…

Solana Rebound Potential: Is $30 The Next Target?

boss

Solana (SOL) has been on an impressive winning streak, with its price chart resembling the formation of an inverted head and shoulders pattern, a bullish technical indicator signaling potential upward momentum. This surge in SOL’s value has grabbed the attention of crypto enthusiasts and traders alike.  At the time of writing, SOL is trading at $24.39, according to CoinGecko. Over the past 24 hours, the coin has rallied by an impressive 14.5%, contributing to a seven-day surge of 25.4%. Notably, SOL recently breached the resistance level of $22.2, which now…

Friend.tech revenue surges over 10,000 ETH, TVL tops 30,000 ETH

boss

Decentralized social media platform Friend.tech, based on Coinbase’s layer-2 protocol, Base, has touched new heights in terms of revenue growth and total value locked on its platform. According to data from Dune Analytics, Friend.tech’s revenue has surged to 10,663 Ether (ETH), and its total value locked (TVL) grew to over 30,000 ETH on Oct. 2. The recent boom in its revenue and trading activity comes amid a decline in hype from its early days of launch. As a decentralized social network platform launched in August 2023, Friend.tech enables users to swap…

Q3 2023 crowned most ‘damaging’ quarter for crypto amid $700M losses: Report

boss

The third quarter of 2023 has been the “most financially damaging” quarter of the year, with almost $700 million in digital assets lost to various security incidents, according to the quarterly report of blockchain security firm CertiK.  Within the report, CertiK highlighted 184 security incidents in July, August and September 2023, with over $699 million in crypto assets lost in the quarter, surpassing first-quarter losses of $320 million and second-quarter losses of $313 million. Among the exploits that led to the losses, private key compromises have been listed as the…