Tag: High

MicroStrategy Bitcoin bet turns green as BTC price climbs to 10-month high

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Business intelligence and Fortune 500 company MicroStrategy’s Bitcoin (BTC) investment has turned green again as BTC broke past the critical resistance of around $29,000 to record a new 10-month high of $30,163. MicroStrategy started investing in Bitcoin in the second quarter of 2020 when the BTC price was trading around $10,000. Since then, the business intelligence firm had made a series of BTC purchases over the period of two years. The firm has accumulated a total of 140,000 Bitcoin, acquired for nearly $4.17 billion at an average price of $29,803…

Bitcoin (BTC) Price Retests $30K as It Hits New Multi-Month High

With the Federal Reserve refusing to back down on its rate hikes, investors are beginning to turn to risk-on assets to safeguard any potential fallout from hawkish monetary policies. The price of Bitcoin (BTC) has been impressing investors with its recent performance which saw it breach the $30,000 resistance for the first time since June 2022. At the time of writing, Bitcoin is now changing hands at a price of $30,097.78, up by 6.42% over the past 24 hours according to data from CoinMarketCap.  Bitcoin’s parabolic growth thus far this…

Ethereum projects launch MEV Blocker to protect users from high prices: Finance Redefined

Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week. A total of 27 Ethereum projects joined hands to minimize the cost incurred by users in the form of maximal extractable value (MEV). The launch partners include Balancer, Gnosis DAO, Shapeshift and StakeDAO, to name a few. Rugpulls in the DeFi ecosystem are nothing new, but in the first quarter of 2023, 73.3% of all rug pulls happened on Binance’s BNB Chain. The DeFi…

Bitcoin Difficulty Reaches New All-Time High After Fourth Consecutive Increase – Mining Bitcoin News

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On April 6, 2023, Bitcoin’s difficulty rose 2.23% higher at block height 784,224, touching another all-time high. It’s the fourth consecutive difficulty increase on the Bitcoin network since Feb. 24, and the protocol’s current difficulty is 47.89 trillion, which is only 2.11 trillion away from reaching the 50 trillion range. Bitcoin Difficulty Jumps 2.23% Higher Bitcoin’s current difficulty of approximately 47.89 trillion is an all-time high, meaning it has never been harder for bitcoin miners to find blocks. The current Bitcoin protocol difficulty level mandates that miners execute roughly 47.89…

Stablecoin Tether’s Market Capitalization Nears Record High of $83B

“When news about unlimited support for bank deposits made the rounds, bitcoin prices exploded from $20,000 to $28,000 within a matter of days,” said Thielen in a note to clients on Thursday. “But it would appear that holders of USDC either converted their Circle stablecoin into Tether’s USDT or that they simply sold $10 billion of USDC and bought bitcoin instead.” Source

XRP Rebounds on Tuesday, as AVAX Hits 1-Week High – Market Updates Bitcoin News

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Xrp rose for a second consecutive session on Wednesday, as the token continued to move away from a recent price floor. Since hitting an eleven-month high a week ago, the token has mostly consolidated. Avalanche was also in the green, as prices hit a one-week high. XRP, formerly ripple, was a notable gainer in today’s session, as prices continued to move away from a recent support point. Following a low of $0.4972 on Tuesday, XRP/USD raced to an intraday high of $0.5256 earlier in today’s session. This came as bulls…

Ethereum projects unite to protect users from MEV-induced high prices

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Over 27 prominent Ethereum projects joined hands to launch MEV Blocker, a solution that aims to tackle and minimize the amount of value extracted from their users, a.k.a maximally extractable value (MEV) — Ethereum’s invisible tax.  MEV is a tax imposed on decentralized finance (DeFi) users on transactions. MEV bots can hijack transactions midway, such as Ether (ETH) trades, nonfungible token (NFT) purchases and ENS registrations, and inflate prices for the users. MEV Blocker was jointly developed by CoW Swap, Agnostic Relay and Beaver Build as a free and censorship-resistant…

Ethereum Prints 9-Month High ahead of Shapella Upgrade

The growth in the price of Ethereum has also stirred a rub-off on the major Liquid Staking Derivatives Platform (LSD). Ethereum (ETH) has joined Bitcoin (BTC) to lead the rally in the digital currency ecosystem today as key stakeholders and investors are religiously awaiting the upcoming Shapella Upgrade. At the time of writing, Ethereum is changing hands at $1,913.45, up by 4.34% over the past 24 hours as the industry’s biggest smart contract platform sought to build on its 5.17% in the trailing 7-day period. The current growth rate is…

Hong Kong’s crypto rules set a high bar for ‘good reason,’ says SFC advisor

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The standards for Virtual Asset Service Providers (VASPs) in Hong Kong are set “incredibly high” as the Securities and Futures Commission (SFC) is wanting the crypto industry to match the same compliance standards as traditional financial firms. Speaking to Cointelegraph at the Hong Kong WOW Summit, Lucy Gazmararian, the founder of crypto venture firm Token Bay Capital and an SFC Fintech Advisory Group member explained that while “the bar is set high” they’re in place for a “good reason.” “The standards are incredibly high because [the SFCs] approach is to…