More than 250 Zambian university students recently participated in an online boot camp and hackathon which saw over 100 earning certification in smart contract development. The students who complete their minimum viable products (MVPs) can apply for grants ranging from ,000 to ,000. Students Trained in Decentralized Application Development More than 250 students from St. […]
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Anticipation Builds as Bitcoin Stands Less Than 1,400 Blocks From Monumental Halving
According to the latest data, we are now less than 1,400 blocks away from the anticipated Bitcoin halving event, which will decrease the block reward from 6.25 bitcoin to 3.125 bitcoin. Bitcoin’s value soared to a new all-time high on March 14, reaching ,794 per bitcoin, but has since seen a 6.5% decline. Observers are […]
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Coinbase Anticipates Bitcoin Dips to Be ‘More Aggressively Bought’ Than Previous Cycles
Cryptocurrency exchange Coinbase says bitcoin dips are likely to be “more aggressively bought compared to previous cycles, even as volatility persists during price discovery.” The crypto firm noted that the impact of U.S. spot bitcoin exchange-traded funds (ETFs) and the larger inflow of institutional demand can be seen in the open interest of bitcoin futures. […]
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Bitcoin Halving Inches Closer With Less Than 2,900 Blocks Left
The Bitcoin Halving is fast approaching, with less than 2,900 blocks left before miners’ rewards are cut in half. This event, projected to take place sometime in April, is significant as Bitcoin’s price could enjoy a parabolic move to the upside after it takes place.
Bitcoin Halving Set For April 19
Data from Coinwarz shows that the Bitcoin Halving is set to take place on April 19 at Block 840,000. This projection is based on Bitcoin’s current block time average, which means the Halving can come a little earlier or sometime after April 19. However, the main focus remains that miners’ supply will be cut in half.
The Halving event is a deflationary measure that Bitcoin’s founder, Satoshi Nakamoto, encoded in the flagship crypto and takes place after every 210,000 blocks. Three halving events have occurred since the Genesis block in 2009, when Bitcoin’s first block was mined. The first was on November 28, 2012, when miners’ rewards were cut from 50 BTC to 25 BTC.
The next Halving event took place on July 9, 2016, cutting miners’ rewards to 12.5 BTC. The third one happened on May 11, 2020, reducing the reward to 6.25 BTC. Now, Miners’ rewards are set to be cut in half again, reducing them to 3.125 BTC.
This reward is the amount of BTC miners receive for validating each block of new transactions on the blockchain. Although this event mainly affects miners, the crypto community closely monitors it due to the ripple effects it could have on the market. Bitcoin’s supply comes through these miners’ rewards, and a reduction in them usually drives Bitcoin’s value higher.
The Halving has historically always led to a price appreciation for Bitcoin. Ninety days after the first Halving on November 28, 2012, Bitcoin’s price increased to ,000 from at the time of Halving. Subsequently, Bitcoin’s price saw a gain of over 8,000% one year after that Halving.
This parabolic price surge also occurred after the second and third Halving events, with Bitcoin’s price rising from 0 and ,821 (at the time of the Halving) to ,506 and ,612 (90 days after the Halving) in 2016 and 2020 respectively. Bitcoin also gained 284% and 559% one year after the event.
This time isn’t expected to be different as Bitcoin is again predicted to experience a massive move to the upside after April. This bullish sentiment is further strengthened by Bitcoin’s demand, which has continued to skyrocket in the face of a dwindling supply.
At the time of writing, Bitcoin is trading at around ,400, up in the last 24 hours according to data from CoinMarketCap.
Defi Platforms Lose More Than $336 Million in Digital Funds in Q1 of 2024, Study Finds
In the first quarter of 2024, more than 6 million in digital assets were stolen from decentralized finance platforms across 61 incidents of hacking and fraud. During this period, criminals made off with digital assets valued at 4.48 million in two major hacking incidents. In contrast, centralized finance platforms reported no incidents of hacking or […]
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44-Day Bitcoin Drain: Coinbase and Binance Shed 76,179 BTC in Less Than 2 Months
Recent figures show that over a span of 44 consecutive days, 76,179 bitcoins, worth .41 billion, have been moved out of Coinbase and Binance, the two leading cryptocurrency exchange and custodial firms by reserve size and total trade volume. Robinhood Bucks Trend With Bitcoin Inflows as Coinbase and Binance Face Outflows A significant volume of […]
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Bitcoin Halving Inches Closer With Fewer Than 2,900 Blocks Remaining
The next Bitcoin halving is on the horizon, drawing closer with each passing block and anticipated to take place anywhere between April 18 to April 22, 2024, at the milestone of block 840,000. Following this event, the reward for mining a block will halve from 6.25 bitcoins to 3.125 bitcoins. The following is a thorough […]
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UK Court Convicts Woman Found With More Than $4.3 Billion in BTC
A London resident reportedly caught with bitcoins worth over .3 billion has been convicted for entering into a money laundering arrangement. The woman specialized in converting digital assets into physical assets, such as multimillion-dollar houses and jewelry. Converting Bitcoin to Physical Assets A British woman, found in possession of bitcoins currently valued at over .3 […]
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US Senators Push SEC to Stop Approving Spot Crypto ETFs — Say Other Crypto Markets Risker Than Bitcoin
Two U.S. senators have urged U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler to refrain from approving additional crypto exchange-traded fund (ETF) applications. The lawmakers cautioned: “However vulnerable bitcoin may be to fraud and manipulation, markets for other cryptocurrencies are far more exposed to misconduct.” Lawmakers Say SEC Should Not Approve Spot Crypto ETFs […]
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El Salvador Has More Bitcoin Than Public Estimates With Multiple BTC Revenue Sources, President Bukele Indicates
President Nayib Bukele of El Salvador has indicated that his country’s bitcoin holdings may exceed public estimates. He revealed that El Salvador has been generating bitcoin-related revenue from various sources in addition to the capital gains from bitcoin purchased since its legalization as a legal tender in the country. ‘El Salvador Is Bitcoin Country’ El […]
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