The exchange-traded funds (ETFs) market for Bitcoin has experienced a rollercoaster of activity, underlining the volatile nature of cryptocurrency investment flows. In an extraordinary turn of events, Bitcoin ETFs saw a staggering outflow on the first day of May, only to be followed by a contained movement the subsequent day. This pattern echoes the sentiment that investing in digital currencies
The aftermath of the Bitcoin halving has stirred the crypto community into a state of heightened anticipation. Typically, a halving reduces the reward for mining new blocks, slicing into the profits for miners. In the most recent event, Bitcoin miners saw their earnings plunge to lows not witnessed in over a year, yet, against popular expectations, there’s no widespread evidence
Despite the recent price fluctuations that have led many to question the immediate future of Bitcoin, Standard Chartered’s head of forex and digital assets, Geoffrey Kendrick, has forecasted a robust recovery for the leading cryptocurrency. With an optimistic long-term outlook, Kendrick elucidates a potential pathway for Bitcoin to rebound to an impressive $150,000 by the end of 2024. Current Market
Ethereum, the second-largest blockchain network by market capitalization, has seen a significant reduction in transaction fees, reaching an average cost of just $1.12 per transaction. According to recent data, this is the lowest average fee recorded since October 18th, a feat that is aligned with a concurrent dip to 6.43 gwei for the median gas fee. Such numbers haven’t been
Cryptocurrency has been a roller coaster of innovation and fluctuation, capturing the attention of investors and enthusiasts worldwide. In this dynamic landscape, a significant prediction has emerged from prominent Bitcoin analyst Willy Woo. He believes that the cryptocurrency user base is on a trajectory to exceed one billion by the end of 2025. This bold forecast is founded on a
As Bitcoin’s performance wanes at the end of April, marking what could be its poorest monthly showing since November 2022, investors are keeping a watchful eye on the horizon. The past weeks have seen the cryptocurrency giant struggling to maintain bullish momentum, caught in the throes of a broader market downtrend influenced by the macroeconomic and geopolitical climate. This pensive
In an innovative approach to forecast Bitcoin’s valuation, Spot On Chain has tapped into Google Cloud’s Vertex AI, employing sophisticated algorithms to sift through vast amounts of historical data. By analyzing key market influencers such as halving events, interest rate cycles, ETF performances, and miner pressures, the team aims to generate predictive insights with unprecedented accuracy. These projections shed light
The cryptocurrency mining industry is bracing for changes following Bitcoin’s fourth halving event. This pivotal moment in the digital currency’s lifecycle has halved the rewards for mining a block, prompting miners to seek out innovative solutions to maintain profitability amidst rising costs. The Impact of Halving on Mining Economics Escalating Production Costs With the halving event, the reward for mining
A recent study by Weavr has underscored a paradigm shift among Accounts Payable (AP) professionals in the UK who are now advocating for software solutions that go beyond the mere preparation of invoices. A staggering 94% of the surveyed finance personnel are in favor of platforms that not only manage the accounts but also take charge of the actual payment
The cryptocurrency landscape has been a whirlwind of activity following the fourth Bitcoin halving, a process that slashes the block reward miners receive in half. What was anticipated to be a bullish event for Bitcoin’s valuation has paradoxically resulted in a downward trend for the digital currency’s market price. Despite the halving’s deflationary intention, Bitcoin has seen its value decline,
For many years, Tether’s USDT has been the stablecoin of choice in the cryptocurrency market, enjoying a formidable market share. Emerging as the third-largest cryptocurrency by market capitalization, USDT was valued at $110.64 billion and commanded a 69% slice of the stablecoin market landscape. However, recent developments indicate that a substantial shift is underway. Circle’s USDC, once the underdog in
The ongoing saga between Ethereum and the U.S. Securities and Exchange Commission (SEC) has taken a dramatic turn with ConsenSys, a key player in Ethereum’s ecosystem, filing a lawsuit against the SEC. At the heart of the controversy is the classification of Ethereum as either a security or not. This suit comes amid the SEC’s hesitation to approve spot Ethereum
