Tag: Bitcoins

ORDI Rockets To New Peaks Alongside Bitcoin’s $42k Surge

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The value of ORDI has increased significantly during the last week, more than tripling, following an astonishing climb. This noteworthy increase aligns with the upward trend of Bitcoin’s value, adding to the cryptocurrency’s recent surge in popularity. A remarkable occurrence was the overnight rise of ORDI to an unprecedented all-time high, which injected excitement into its recent performance. Based on the Ordinals protocol of Bitcoin, the token is by far the largest BRC-20 asset. It reached a new peak price of $49.05 today, according to CoinGecko data, after rising 16.3%…

Traders liquidated $193m in crypto amid Bitcoin’s surge

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Cryptocurrency traders liquidated almost $193 million over the past 24 hours as Bitcoin hit a 20-month high. According to Coinglass data, traders closed orders worth $74 million for Bitcoin (BTC) and $29 million for Ether (ETH), with several alt-coins also witnessing notable gains. Source: Coinglass On Dec. 4, BTC crossed the $41,000 mark an increase of 5.5% over the past 24 hours. ETH followed as did the other largest alt-coins by market capitalization. Notably, the price of Dogecoin (DOGE) was up 6%, Ripple (XRP) was up 2%, and Solana (SOL) was up 1.5%.…

Bitcoin’s top of funnel is becoming less noisy, suggests Swan Bitcoin CEO

Swan Bitcoin CEO Cory Klippsten has suggested that the spot Bitcoin (BTC) exchange-traded fund (ETF) will suppress the loud and flashy marketing strategies that have served as the initial gateway for many into the crypto space since 2017. During a recent interview with Bloomberg on December 1, Klippsten reiterated that Bitcoin ETFs offer an alternative entry into the market at a time when it has been tainted by well-funded crypto marketing schemes, not all of which have proven to be legitimate. “The past six years from 2017 through 2023, the…

Bitcoin’s latest price surge puts 80% of holders at profit

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Bitcoin’s (BTC) recent positive price movement has put most holders in the green, according to blockchain analytics firm IntoTheBlock. Over 80% of Bitcoin holders are currently in profit, marking the highest profitability level since December 2021. Bitcoin’s highest level since December 2021 In a recent post, IntoTheBlock disclosed that this milestone is particularly significant, as it represents the highest profitability level recorded by the flagship cryptocurrency in the last two years. Market participants and expert analysts believe that BTC could ascend further, with indicators hinting at the possibility of the…

BTC Price Eyes $40,000 Soon as Massive Number of Bitcoins Move Off Exchanges

Anticipated interest rate cuts by central banks in the coming months could attract capital to various markets, potentially leading to increased volatility in speculative sectors like cryptocurrencies, according to some market observers. With the Federal Reserve pausing its rate hiking cycle and other central banks globally following suit, there is speculation that we may have reached the peak of this tightening cycle. To sustain a significant boost in risk assets, a clear trajectory toward lower interest rates and the conclusion of Quantitative Tightening is deemed essential. As 2024 approaches, there…

Bitcoin’s path to $40k predicted by CryptosRUs analyst

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CryptosRUs analyst predicts Bitcoin’s imminent surge to $40,000, citing potential ETF approvals and the upcoming halving event as key drivers. In his YouTube video posted on Nov. 23, the crypto analyst behind the CryptosRUs channel predicted that Bitcoin’s (BTC) price could soon surge to $40,000. He believes several key factors could drive this price movement. “The derivative traders, the future traders, the option traders, they’re all targeting 40,000 right now. Everyone is eyeing 40,000 because that 39,000 resistance, nothing, right? We will break through that like it’s nothing. So, 40,000…

Bitcoin’s current price is ‘insufficient’ to motivate holders, Glassnode says

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Although the volume of Bitcoin supply in profit has hit levels last seen in 2021, it is still ‘far insufficient to motivate long-term holders,’ analysts say. While Bitcoin (BTC) is trying to reach the $40,000 mark, analysts at Glassnode say the crypto so far does not have enough momentum to motivate long-term holders to unload their bags. In a new digest published on Nov. 21, Glassnode noted that with the recent spike of Bitcoin’s price, over 16.3 million BTCs are now in profit (~83.6% of the circulating supply). This figure…

Bitcoin’s Taproot Wizards secures $7.5m funding from Standard Crypto

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Bitcoin’s Taproot Wizards project received a fresh $7.5 million investment from Standard Crypto to transform the blockchain ecosystem and compete with major players like Ethereum and Solana. The Taproot Wizards project, known for its Bitcoin Ordinals initiative, has successfully raised $7.5 million in funding, spearheaded by VC firm Standard Crypto. Founded by Udi Wertheimer and Eric Wall, Taproot Wizards draws inspiration from a classic Bitcoin wizard meme that circulated on Reddit over 10 years ago. The project aims to reshape perceptions of the Bitcoin blockchain.  “We’ve always admired their s̶h̶i̶t̶p̶o̶s̶t̶i̶n̶g̶…

Some crypto companies might be too excited for Bitcoin’s halving

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As we approach Bitcoin’s (BTC) halving in April, a phenomenon that historically triggers significant market shifts, companies within the space are at a critical juncture. This event is surrounded by speculation and strategic planning, and for some, a sense of uncertainty. While it’s laden with opportunities, it’s vital for businesses to adopt a balanced approach, integrating a long-term perspective rather than catering to market euphoria. Historically, Bitcoin halving events — which reduce mining rewards by half — have triggered substantial changes in the crypto landscape. These changes often lead to…

Ethereum’s Layer-2 Expansion, Rise of Zero-Knowledge Cryptography, and Bitcoin’s New Frontier in Tokenization, Smart Contracts, and File Hosting

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LAYER 2’S EVERYWHERE: In last week’s The Protocol, we dedicated a not-inconsiderable quantity of ink to the fast-growing list of new “layer 2” blockchains aiming to provide a venue for fast and speedy transactions atop Ethereum. Grab another well, cause there’s been plenty more announcements already this week. The most notable was inarguably Tuesday’s disclosure by the crypto exchange OKX that it plans to build a layer 2 using Polygon’s technology. Wednesday brought the news of Kinto, which has raised $5 million this year to develop a layer-2 network that’s…