Bitcoin on exchanges rise as Ethereum sees a decline
In the last month, centralized cryptocurrency exchanges have witnessed a significant shift in the reserves of Bitcoin and Ethereum. According to recent data from cryptoquant.com, Bitcoin deposits have surged by 32,058 BTC, rising from 2,058,106 BTC on December 4, 2023, to the current total of 2,090,164 BTC. This increase, valued at $1.4 billion, underscores a […]
Mystery Bitcoin wallet leaps to Top 10 amid Bitcoin’s rise
The mysterious ascent of a Bitcoin wallet, believed to be linked to Tether, has caught the attention of the crypto community as it now stands as the tenth-largest holder of Bitcoin. This notable rise occurred following the accumulation of 8,888 bitcoins from Bitfinex as the year came to a close. Presently, the wallet holds approximately […]
Cipher Mining buys 16,700 new miners ahead of Bitcoin halving
Cipher Mining has strategically positioned itself for significant growth with the recent acquisition of 16,700 new Bitcoin miners from Canaan. The delivery of these miners is slated for the second quarter, aligning with the anticipated Bitcoin halving event expected in April. The miners, belonging to the latest generation Avalon A1466 series, will find homes in […]
Tuttle Capital proposes ETFs that aid spot Bitcoin ETF performance
Tuttle Capital Management, a notable ETF issuer, has taken an assertive step into the evolving landscape of digital assets by filing for six leveraged and inverse Bitcoin exchange-traded funds (ETFs) with the U.S. Securities and Exchange Commission (SEC). This strategic move aims to offer investors “magnified” returns, even in the absence of approval for a […]
Ordinals founder addresses Bitcoin maxis complaints
In recent discussions within the Bitcoin community, Casey Rodarmor, the developer behind the Ordinals protocol, has addressed concerns raised by ideological Bitcoin maximalists regarding the protocol’s use of block space. The Ordinals protocol facilitates the embedding of inscriptions and media directly on the Bitcoin blockchain, sparking debates about its impact and potential hard fork within […]
Lightning network credited with Bitcoin’s surging use
In recent market research conducted by Kaminari, the increased use of Bitcoin as a transactional layer has been attributed, in part, to the growing adoption of the Lightning Network (LN) by crypto platforms. The study reveals that Bitcoin’s transactional activity has experienced steady growth, with 40 million transactions settled in Q3 of 2023, indicating a […]
Bloomberg analyst uncovers scenarios for spot Bitcoin ETF rejection
As the deadline looms for the Securities and Exchange Commission’s (SEC) decision on a Bitcoin exchange-traded fund (ETF), the sentiments among analysts remain cautiously optimistic, with Bloomberg’s Eric Balchunas and James Seyffart assigning a 90% chance of approval by January 10. Despite the prevailing optimism, the analysts are hesitant to push the odds beyond 90%, […]
VanEck’s director drums the importance of Bitcoin ETFs in the future
Vaneck’s Director of Digital Assets Strategy, Gabor Gurbacs, recently shared insights into the potential long-term impact of a U.S. spot bitcoin exchange-traded fund (ETF) on social media. Vaneck is among several asset management firms seeking approval from the U.S. Securities and Exchange Commission (SEC) to launch such an ETF. VanEck’s Grubacs drums the future impact […]
Five Bitcoin mining pools dominated 2023 with 84% of total blocks
In the span from December 30, 2022, to December 30, 2023, the Bitcoin mining landscape experienced a transformative year marked by significant achievements and industry-leading players. A total of 54,002 bitcoin blocks were mined during this period, with Foundry USA emerging as the top contributor, mining an impressive 16,492 blocks. The mining community navigated through […]
Bitcoin miners accumulate $1.5 billion in revenue in December
In December 2023, Bitcoin miners experienced an extraordinary surge in monthly revenue, reaching the pinnacle of the year at an impressive $1.51 billion. This remarkable figure, inclusive of a record-breaking $324.83 million from on-chain transaction fees, not only signifies a substantial financial gain for miners but also establishes a new benchmark within the cryptocurrency industry. […]
Bitcoin retains NFT sales top spot in December
In November, Bitcoin took center stage in the monthly non-fungible token (NFT) sales arena, and this trend continued into December, solidifying its leading position with a total of $853 million in sales. Despite a recent dip in NFT sales, down by over 35% from the preceding week, December witnessed an unprecedented surge, with a record-breaking […]
Bit Mining sells its mining pool operations for $5 million
Bit Mining Limited recently made headlines with the announcement of the sale of its mining pool operations associated with Btc.com for a substantial sum of $5 million. This strategic move is poised to fortify Bit Mining’s shareholders’ total equity, pending certain concluding conditions. The publicly-listed company, identified on the New York Stock Exchange under the […]
Ark Invest sells its remaining $200 million GBTC holdings
ARK Invest, spearheaded by the influential Cathie Wood, has recently undertaken significant adjustments in its investment portfolio, signaling strategic moves within the rapidly evolving cryptocurrency landscape. On December 28, the institutional asset management firm decided to liquidate its entire remaining holdings in the Grayscale Bitcoin Trust (GBTC), amounting to a substantial $200 million. This move […]
Taproot Wizards launches script to reject ordinal inscriptions
In a peculiar development within the Bitcoin community, a contributor to Taproot Wizards, an art collection immortalized by Bitcoin Ordinals, claims to have devised a method for Bitcoin enthusiasts to reject Ordinals inscriptions. This individual contributing to Taproot Wizards, operating under the pseudonym Rijndael, serves as the chief technology officer for the firm. On December […]
Grayscale refiles its spot Bitcoin ETF application
Grayscale, a prominent player in the crypto asset management space, recently made headlines with its amended S-3 filing submitted to the U.S. Securities and Exchange Commission (SEC). Interestingly, the filing coincided with the announcement of Barry Silbert, CEO of Grayscale’s parent company Digital Currency Group (DCG), stepping down from Grayscale’s board of directors. Grayscale edits […]
Tim Draper shares his optimistic outlook on Bitcoin
Venture capitalist Tim Draper has maintained his optimistic outlook on Bitcoin, doubling down on his prediction that the cryptocurrency’s price will reach $250,000. In a recent interview with Coin Bureau, Draper expressed confidence in his earlier forecast, emphasizing that he expects the $250,000 milestone to be achieved soon and believes the price could surpass that […]
Spot Bitcoin ETF could dwarf all the crypto ETPs in the market
The market for cryptocurrency exchange-traded products (ETPs) has reached approximately $50.3 billion in assets under management, encompassing around 150 products globally, as per data from BitMEX research. This has created a case for spot Bitcoin ETFs dwarfing ETPs. These ETPs include both spot and futures funds, typically tracking the performance of major cryptocurrencies like Bitcoin […]
SEC announces deadline for spot Bitcoin ETF updates
In the fast-paced pursuit of a spot Bitcoin exchange-traded fund (ETF), contenders find themselves racing against a stringent deadline imposed by the United States Securities and Exchange Commission (SEC). Set for December 29, the agency’s deadline for finalizing S-1 amendments has created a sense of urgency among applicants, according to reports from Reuters, citing public […]
Bitcoin fork discussions surface amid network congestion issues
Amidst the complex landscape of blockchain dynamics, discussions surrounding a potential Bitcoin fork in 2024 are gaining momentum. The focal points of these deliberations include block space concerns, Ordinal inscriptions, and the persistent issue of escalating transaction fees. While no formal announcement has been made, a growing number of voices in the cryptocurrency community are […]
Bitcoin mining difficulty increases as miners purchase new equipment
In late December 2023, the landscape of Bitcoin mining underwent a significant transformation as the mining difficulty reached an unprecedented level. At block height 822,528, the difficulty surged by 6.98%, marking the most substantial increase in nine months since March 23. This surge set a new record, making the process of discovering block rewards more […]
El Salvador retains first position in Bitcoin interest charts
Brazil has recently surpassed Nigeria in Google Trends’ interest-in-Bitcoin rankings, securing the second position. El Salvador, known for its unwavering commitment to Bitcoin, has retained its top spot. This shift in rankings reflects the growing popularity of Bitcoin in Brazil, the most populous nation in Latin America. In contrast, Nigeria, which held the second position […]
VanEck CEO drums up support for Bitcoin as a store of value
VanEck’s CEO, Jan van Eck, firmly asserts that Bitcoin’s position as the predominant store of value on the internet is unassailable. In a recent CNBC interview on December 16, van Eck, whose firm manages assets totaling $76.4 billion, stressed the improbable nature of any alternative digital store of value surpassing Bitcoin. He attributes Bitcoin’s enduring […]
Bitcoin mining concentration sees a significant increase
Bitcoin mining has recently witnessed a resurgence of concentration, harking back to a situation reminiscent of 2013. Over the past 72 hours, Antpool and Foundry USA have collectively commanded a substantial 51.43% of Bitcoin’s total hashrate. This level of control has been unprecedented since 2013 when mining pools like Ghash and Btc Guild dominated 55% […]
Bitcoin transaction fees jump to $40 amid calls for L2 solutions
Bitcoin, on Saturday, witnessed a remarkable surge in transaction fees, reaching a peak of $40 per transaction at 1:48 p.m. Eastern Time. This upswing surpassed the previous record set on May 8, 2023, when the average transfer cost reached $31 per transaction. The substantial increase in fees has prompted a closer examination of the dynamics […]
US Dollar slides to four-month low as traders predict doom
In the weeks ahead, Bitcoin may find itself propelled by favorable macroeconomic conditions if current trends persist. Renowned trader Crypto Ed, founder of the CryptoTA trading group, recently highlighted the potential for multi-month lows in U.S. dollar strength. Despite a recent decrease in the historical inverse correlation between Bitcoin and the strength of the dollar, […]
Bitcoin Core developer denies flagging inscriptions as a cybersecurity risk
Bitcoin Core developer Luke Dashjr has distanced himself from the inclusion of inscriptions on the U.S. National Vulnerability Database’s (NVD) Common Vulnerabilities and Exposure (CVE) list, refuting claims that he had a role in labeling it a cybersecurity risk. Dashjr, a vocal critic of inscriptions used by the Ordinals protocol and BRC-20 creators for embedding […]
Bitcoin inscriptions flagged as a cybersecurity risk in the US
Bitcoin, a leading cryptocurrency, has recently faced heightened scrutiny after the National Vulnerability Database (NVD) raised concerns about the cybersecurity risk associated with its inscriptions on December 9. This scrutiny shed light on a security flaw that played a role in the development of the Ordinals Protocol in 2022. NVD discovers vulnerabilities in versions of […]
Mike Novogratz dismisses JPMorgan CEO’s claims about crypto
Galaxy Digital CEO Mike Novogratz recently voiced strong opposition to JPMorgan CEO Jamie Dimon’s critical stance on Bitcoin and cryptocurrency. Dimon, in a congressional hearing, asserted that he would shut down crypto and Bitcoin if he held a government position, citing concerns about their association with criminal activities such as drug trafficking, money laundering, and […]
Bitcoin ordinals cause commotions amid congestion issues
Bitcoin’s recent flirtation with the $45,000 mark has reignited discussions around the contentious topic of ordinal inscriptions. Luke Dashjr, a Bitcoin Core developer, has raised concerns about inscriptions exploiting a vulnerability in Bitcoin Core, effectively spamming the blockchain. Bitcoin ordinals cause concerns about the blockchain This concern is mirrored in the data, with over 260,000 […]
BlackRock secures $100,000 seed capital toward its Bitcoin ETF
BlackRock (BLK) recently unveiled that it secured $100,000 in “seed capital” for its anticipated Bitcoin (BTC) exchange-traded fund (ETF), as disclosed in a new submission to the U.S. Securities and Exchange Commission (SEC). In their application, BlackRock revealed that the seed capital investor committed to acquiring $100,000 worth of shares on October 27, 2023. BlackRock […]
Hashdex predicts spot Bitcoin ETFs trading timeline
Hashdex, a prominent player among the 13 asset managers competing for the approval of a Bitcoin exchange-traded fund (ETF) spot in the United States, has set its sights on the second quarter of 2024 for the potential launch of the first spot Bitcoin ETF in the country. In addition to this, the company anticipates the […]
Bitcoin miners set revenue record fueled by November surge
In November 2023, the bitcoin mining landscape witnessed a groundbreaking moment as the revenue generated by miners soared to an unprecedented peak of $1.16 billion. This notable achievement not only underscored the industry’s resilience but also established a record for the highest monthly fees collected by miners throughout the year. Bitcoin miners’ financial landscape During […]
US Force Major discusses the importance of Bitcoin in national defense
The United States Space Force Major Jason Lowery has recently advocated for a formal investigation into the strategic applications of proof-of-work (PoW) systems, specifically focusing on Bitcoin, as a means of enhancing national defense. Beyond its conventional role as a monetary system, Lowery highlights Bitcoin’s potential to secure various forms of data, messages, and command […]
Hut 8 set to finalize its merger agreement with USBTC
Hut 8 is on the brink of finalizing its merger with US Bitcoin Corp, a move set to usher in a new era of geographic diversity and increased revenue streams for the company. Termed a “merger of equals” by executives, the deal, initially disclosed in February, has gained momentum, with USBTC stockholders recently granting their […]
Former NYSE President discusses the benefits of spot Bitcoin ETFs
Tom Farley, former President of the New York Stock Exchange (NYSE) and current CEO of the cryptocurrency exchange Bullish, anticipates a significant influx of capital into the crypto industry upon the approval of spot Bitcoin exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC). Farley, who led the NYSE from 2014 to 2018, […]
JPMorgan discusses the effects of spot ETFs on Bitcoin’s price
JPMorgan, a prominent global investment bank, has issued a cautionary note regarding the potential approval of spot bitcoin exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC), expressing concerns about the impact on bitcoin prices. The bank’s analysts, led by Nikolaos Panigirtzoglou, anticipate significant downward pressure on bitcoin if the SEC greenlights spot […]
Bitcoin transaction fees dip after weeks of surging revenue
Bitcoin transaction fees have recently undergone a notable easing, following a surge that saw fees exceeding $18 per transaction on two occasions last week. As of November 24, 2023, the average transaction fee settled at approximately $5.89, with the median fee per transfer standing at $2.86. The spike in transaction costs, reaching over $18 per […]
El Salvador’s Nayib Bukele’s BTC stash suffers a slight decline
El Salvador’s President, Nayib Bukele, known for his strong endorsement of Bitcoin during the 2021 bull market, has encountered criticism for his ambitious investment strategy. In November of that year, Bukele announced an unconventional plan for El Salvador to add one Bitcoin to its balance sheet daily, a move that triggered skepticism from various quarters, […]
Bitcoin sender pays a record-breaking $3 million as transaction fees
In an unexpected and costly turn of events, a Bitcoin sender recently made a significant mistake, setting a record for the highest transaction fees paid in the history of Bitcoin transactions. According to blockchain data, the sender had intended to transfer 139.42 BTC, valued at approximately $5.1 million. However, an astonishing 83.64 BTC was inadvertently […]
Bitcoin makes leap above $37K amid spot ETF approval rumors
In the recent dynamics of the cryptocurrency market, this week witnessed a positive turn as Bitcoin (BTC) surpassed the $37,400 mark and continued to trend upward despite the departure of a significant figure in the crypto space. The market initially faced turbulence on Monday due to leaked information suggesting a potential substantial settlement of U.S. […]
