Tag: Crypto

Amidst mounting pressure on Bitcoin miners to sell off their holdings, there arises the question: what implications will this have on the price of BTC? Bitcoin miners are experiencing selling pressure due to a drop in revenues.   Bitcoin (BTC) has seemingly hit a plateau, lingering stubbornly around the $62,000 mark for an extended period. Despite this apparent stability, ominous clouds loom on the horizon for the leading cryptocurrency, hinting at potential challenges ahead. The mounting selling pressure on Bitcoin miners could have significant repercussions for the broader BTC ecosystem. As miners face the necessity to offload their holdings to sustain profitability amidst challenging market conditions, this influx of supply could potentially exert downward pressure on Bitco...

When might AVAX hit $100? Analyzing the altcoin's ascent The recent rise in AVAX's price could signify the beginning of a significant trend. However, achieving $100 in a linear fashion may require some time. Data from the derivatives market indicated a prevalence of short positions. A golden cross observed on the daily chart indicated a potential uptrend towards $60 in the near future. The recent increase in Avalanche's (AVAX) price to $35.77 has reignited speculation about the token reaching $100. This rise represents a 4.30% increase over the past 24 hours. However, it still falls short of the $61.90 peak that the cryptocurrency hit in March. Nevertheless, certain key indicators indicate that the token could sustain its upward momentum. Firstly, AMBCrypto examined th...

Today, how are cryptos and memecoins influenced by Trump and Biden faring? Trump saw a considerable uptick in price as public interest swelled, while Boden faced a notable downturn in its price over the past 24 hours. With the upcoming U.S. presidential elections, many cryptocurrency traders and investors have capitalized on significant profits in recent months. Memecoins like Trump and Boden have swiftly garnered attention in the cryptocurrency sphere, capturing the interest of many in just a short span.   Recent statements attributed to Donald Trump regarding cryptocurrencies could potentially explain the performance of these memecoins. The former U.S. President reportedly announced his intention to accept campaign contributions in cryptocurrencies. Videos shared by Frank Degods, ...

Bitcoin mining difficulty has dropped 6%, hitting its lowest point since December 2022. The difficulty of Bitcoin mining has reached its lowest point since December 2022. On May 9, BTC.com reported a significant 5.63% decrease in Bitcoin (BTC) mining difficulty, which lowered to 83.15 T. This adjustment reflects levels seen during the bear market phase of 2022, a period marked by several notable bankruptcies, including the collapses of Terra and FTX. Over the preceding fortnight, the average hashrate stood at 595 EH/s, down from 630 EH/s, indicating potential equipment shutdowns by miners as mining operations became unprofitable following the most recent Bitcoin halving. The next anticipated adjustment in this metric is scheduled for May 23, with a projected decrease of 0.19%. The red...

Vitalik Buterin has suggested a method to enhance the capacity of Ethereum. Vitalik Buterin, one of the co-founders of Ethereum, suggested the introduction of multidimensional gas pricing. In his latest essay, Buterin has proposed a revolutionary approach to address the limitations of the existing commission system within the cryptocurrency landscape. His concept revolves around the implementation of multidimensional gas pricing, aiming to reshape the fundamental dynamics governing transaction fees and resource allocation within blockchain networks, particularly focusing on Ethereum. Traditionally, blockchain networks rely on a commission-based system to incentivize network participants, known as miners or validators, to include transactions in blocks and secure the network. However...

A Canadian regulatory body has fined Binance $4.4 million for infractions related to money laundering. FINTRAC has levied a significant penalty against the cryptocurrency platform Binance for purportedly breaching anti-money laundering rules. The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) released a statement today outlining two primary breaches by Binance: failure to register as a foreign money services business and failure to report significant transactions involving virtual currency. Specifically, FINTRAC alleges that Binance neglected to report transactions exceeding $10,000 on 5,902 separate occasions between June 2021 and July 2023. According to the regulator, Binance is classified as a foreign money services business. On May 7, 2024, Binance Holdings Li...