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How Bitdeer Is Transforming Bitcoin Mining Machines
Application-specific integrated circuit (ASIC) chips are crucial to the Bitcoin mining landscape, engineered solely for optimizing the resolution of Bitcoin’s SHA-256 algorithm to secure block rewards. The industry is currently dominated by a few key players, particularly Bitmain, whose Antminer S19 exemplifies the advanced computational capabilities of these machines. The S19 can perform an astounding…
Continue ReadingWatch these Bitcoin price levels as BTC retests key $84K resistance
Bitcoin (BTC) approached the $83,000 mark during the Wall Street open on March 14, as traders gauged the market conditions necessary for a bullish turnaround. Amidst this environment, BTC/USD registered a daily gain of up to 5% before entering a consolidative phase, reflecting traders’ cautious outlook amidst broader macroeconomic uncertainties. ### BTC Price RSI and…
Continue ReadingBTC Price Maintains $80K After Favorable CPI Data, XRP to Get Commodity Status? (Your Weekly Recap)
The cryptocurrency market experienced another tumultuous week, characterized by significant volatility and emerging trends that have caught the attention of investors and analysts alike. After a relatively quiet weekend, where Bitcoin (BTC) hovered around $86,000 with minimal fluctuations, the start of the week brought unpredictability, sending BTC down to approximately $80,000 before a brief bounce…
Continue ReadingHong Kong fintech sector sees 250% blockchain growth since 2022
Hong Kong’s fintech landscape is burgeoning, with promising growth projections driven by cutting-edge innovations in blockchain, digital assets, and artificial intelligence. Currently, the region boasts over 1,100 fintech firms, including 175 focused on blockchain applications and 111 specializing in digital assets and cryptocurrency. Notably, these sectors have witnessed remarkable growth of 250% and 30%, respectively,…
Continue ReadingSEC Reportedly Considering Classifying XRP as a Commodity
The U.S. Securities and Exchange Commission (SEC) is contemplating a significant regulatory shift regarding XRP, potentially classifying it as a commodity rather than a security. This development appears to arise from ongoing settlement negotiations between the SEC and Ripple Labs, hinting at a possible change in the agency’s approach to cryptocurrency regulation. ### SEC Weighs…
Continue ReadingGold’s Historic Rally Brings Back BTC’s ‘Store of Value’ Debate
The current market climate is highlighting gold’s resiliency as a “store of value,” a title that the precious metal has reclaimed amidst recent economic turbulence. April gold futures have surged past the $3,000-per-ounce mark for the first time ever, solidifying this milestone for gold. In contrast, bitcoin (BTC), often dubbed “digital gold,” is facing challenges—down…
Continue ReadingBitcoin panic selling costs new investors $100M in 6 weeks — Research
Bitcoin speculators have faced a staggering setback in the first quarter of the year, with losses exceeding $100 million within just six weeks. This alarming downturn can be attributed to a fervent wave of panic selling among short-term holders (STHs), as detailed by recent research from the on-chain analytics platform CryptoQuant. Short-term holders, primarily those…
Continue ReadingETH, XRP, ADA, SOL, and HYPE
Ethereum (ETH) This week, Ethereum experienced a significant downturn, falling by 13% after failing to maintain its position above the crucial $2,000 mark. With this psychological threshold breached, buyers have shifted their focus to the support level at $1,800, a situation that marks a return to bear market conditions not witnessed since 2023. Since December…
Continue ReadingCalls for stricter rules on political memecoins after $4B Libra collapse
Industry analysts are sounding alarms following the catastrophic collapse of the Libra (LIBRA) token, which saw a staggering $4 billion wiped off its market cap. This turmoil, triggered by insider cash-outs, has raised significant concerns regarding the safety and economic mechanisms of cryptocurrencies endorsed by high-profile political figures, notably Argentine President Javier Milei. Recent reports…
Continue ReadingWill Trump’s ‘Short-Term Pain’ Plan Result in Long-Term Gains for Crypto?
High-risk assets, particularly tech stocks and cryptocurrencies, have faced a significant sell-off recently, largely driven by escalating trade tensions linked to Donald Trump’s economic policies. This selling trend has been reported as part of a broader strategy aimed at tackling inflation and the staggering $9 trillion debt held by the United States, according to insights…
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