The next big meme coin launch could be just days away. Sealana (SEAL), the seal-themed token on Solana, has drawn a massive crowd during its presale phase. And with only five days remaining, will SEAL explode after it hits the open market? Sealana Draws Huge Attention with Hilarious Seal Mascot Sealana is one of the […]
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New US Stock Exchange Launching in Texas Backed by Blackrock and Citadel
Backed by major financial institutions like Blackrock and Citadel Securities, TXSE Group Inc. has announced its plan to launch the Texas Stock Exchange (TXSE) in Dallas. This new exchange will provide a platform to trade and list public companies and exchange-traded products. With a capital raise of approximately 0 million, TXSE stated that it is […]
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UK Approves First Physically Backed Bitcoin and Ethereum ETPs for Listing on London Stock Exchange
The Financial Conduct Authority (FCA), the UK’s top financial regulator, has approved physically backed bitcoin and ethereum exchange-traded products (ETPs) for listing on the London Stock Exchange for the first time. “FCA approval in this respect could result in greater institutional adoption of the asset class,” Wisdomtree stated. First Bitcoin and Ethereum ETP Listings on […]
Bitcoin News
BlockDrop Debuts Weekly SOL Airdrops Backed by Bitcoin Mining Rewards
BlockDrop Coin operates as a cutting-edge cryptocurrency that allocates mining rewards to token holders via weekly airdrops, simplifying access to the mining economy. Historically, the entry barriers to profitable Bitcoin mining have steadily increased, pushing individual miners and small operators to the periphery of the Bitcoin mining economy. This centralization of Bitcoin mining power raises […]
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Analyst Predicts Bitcoin Will Hit $150,000 by 2025 as Green Bitcoin is Backed to Explode
Bullish predictions are sweeping the crypto market as analysts anticipate another massive upswing for Bitcoin (BTC) soon. Wall Street giant AllianceBernstein recently projected that BTC could skyrocket to 0,000 per coin by 2025. Meanwhile, the eco-friendly Green Bitcoin (GBTC) presale project is also generating buzz, with traders forecasting substantial gains once listed on exchanges. Wall […]
Bitcoin News
BlackRock $10 Million Bitcoin Purchase Will Happen Today, Expert Says SEC Is Backed Into A Corner
The world’s largest asset manager, BlackRock, is set to make a significant Bitcoin purchase on January 5. This comes as Bloomberg analyst James Seyffart hinted that the Securities and Exchange Commission (SEC) has no choice but to approve the pending Spot Bitcoin ETFs finally.
BlackRock To Purchase Million Worth Of Bitcoin
As part of efforts to seed its Spot Bitcoin ETF, BlackRock will purchase million worth of BTC on January 5. The asset manager had earlier scheduled this Bitcoin purchase for January 3. However, it was eventually postponed to this later date, possibly in a bid to ensure they gain all regulatory approvals and be fully compliant.
BlackRock had revealed how the sum of million had come about in the latest amendment to its S-1 filing. The world’s largest asset manager had noted that the said sum was proceeds from the sale of its “Seed Creation Baskets.” The firm initially seeded its ETF back in October, with the fund’s Seed Capital Investor purchasing 0,000 in shares.
Bloomberg analyst James Seyffart had previously warned that Blackrock’s plans to seed their ETF with this amount doesn’t mean they are launching just yet. However, he remarked that there was a possibility that the asset manager was doing so in anticipation of an imminent launch.
Meanwhile, it is also worth mentioning that BlackRock’s initial seed fund could eventually be outranked. Fellow issuer Bitwise revealed in their latest amendment to their Spot Bitcoin ETF that they could potentially seed their fund with up to 0 million if they eventually get approval from the SEC.
The SEC Is Backed Into A Corner
Bloomberg analyst James Seyffart recently shared his thoughts on whether or not an approval order was going to come from the SEC soon enough. According to Cointelegraph, Seyffart stated that there was no way the Commission could get issuers to withdraw their application as they are already backed into a corner.
The analyst made this comment following his assertion that the regulator has run out of reasons to deny these Spot Bitcoin ETFs. He alluded to the Grayscale case, where the court ruled that the SEC’s reasons for denying the asset manager’s application were insufficient. With this in mind, Seyffart said that the SEC is likely to approve these funds soon enough.
These approvals could come as soon as next week, going by the analyst’s projection. Seyffart stated that he expects an official approval order to come between January 8 and 10. This is despite the recent rumors that the SEC could approve these funds before this week runs out.
XRP Greed Index Soars, Backed By Robust $1.3 Billion Volume – Good For Price?
The price of XRP, the native token of the Ripple payment network, increased by 4% to .639999 over the course of the previous day. This occurred on a day when rising optimism caused the cryptocurrency market as a whole to rise by 5%.
XRP has increased by 4% over the past month and by 1.5% in only one week. It is currently the fifth-largest token by market capitalization, having increased by a remarkable 80% since the start of the year. This demonstrates how, in the cryptocurrency world, XRP is moving to its own rhythm.
XRP Shows Renewed Vigor
Thanks to the general surge in the cryptocurrency market, the token has emerged from a protracted hibernation with encouraging indicators. Even while it hasn’t fully restored to its former splendor, the remnants of its strength are beginning to flare once more.
In the upcoming days, analysts project another 15% increase, bringing its value to .72. Technical indicators show cautious optimism, scoring 72 for “Greed” and neutral positive mood.
When a cryptocurrency’s index is labeled “Greed,” it indicates a positive market sentiment where investors are optimistic and more willing to take risks.
This sentiment is measured on a scale ranging from extreme fear to extreme greed, with a “Greed” leaning suggesting heightened confidence and positive expectations among market participants.
A surge in buying demand might push XRP’s price higher and into the .65–.71 supply zone. Confirmation of the continuation of the intermediate trend would require a break and close above this order block’s midline, at .68.
The price of XRP might then aim for the psychological level of .8000 if this order block were to flip into support.
With the approval of the Bitcoin ETF and probable rate cuts bringing about a potential full-fledged bull market next year, it is feasible that the market-wide surge of today marks the beginning of an end-of-year rally.
If this is the case, Ripple’s recent wins over the SEC and the company’s recent expansion should assist XRP immensely.
While XRP’s 24-hour trading volume has surpassed .3 billion, the altcoin’s support level is still rising gradually. This indicates that during that period, a sizable sum of XRP was bought and traded.
XRP’s Momentum: Rising Support, Increased Trading Signal Growth
Positive sentiment is often associated with rising support levels since they show that more traders and investors are prepared to purchase XRP at higher prices, and bigger trading volumes signify more activity and liquidity in the market.
This is still far below the billion-plus levels observed at the beginning of November, but being a significant increase over the levels seen in September and early October.
Put differently, there is ample opportunity for XRP’s current surge to continue and perhaps even pick up more momentum.
#XRP – Last time MACD crossed 0 level, $XRP went PARABOLIC! Haven’t confirmed above, but we are getting VERY CLOSE…
Glad we bought low using a calculated strategy! We will sell the top too using same strategy! No emotions!
Retweet/Like for updates!https://t.co/FNuFN39RjM
— JD (@jaydee_757) December 1, 2023
Meanwhile, in a post on his X platform, cryptocurrency expert JD stated that the MACD (Moving Average Convergence Divergence) was the catalyst for the market’s explosive rise.
As JD noted, the “parabolic” spike in XRP occurred at the same moment that the MACD last moved above zero. Although it hasn’t happened this time, he says the market is quickly getting close to that point.
The big trading activity shows that a lot of people are involved in XRP, making it important in the crypto world. As the coin’s Greed index goes up, everyone is excited to see what happens next with XRP, as it sits on the edge of market changes driven by feelings and lots of trading.
(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).
Featured image from Shutterstock
Jack Dorsey Backed Bitcoin Mining Pool Ocean Acknowledges Filtering Ordinal Inscriptions
Ocean, a Bitcoin mining pool that recently raised .2 million in a seed funding round led by former Twitter (now known as X) CEO Jack Dorsey, is currently filtering ordinal inscription transactions. Giacomo Zucco, a bitcoiner, confirmed that Ocean was using Knots as a node, a software developed by Luke Dashjr known to filter Ordinal inscriptions.
Ocean Bitcoin Mining Pool Filtering Ordinal Inscriptions
Ocean, a Bitcoin mining pool, has acknowledged that it is currently applying a filter that affects Ordinals-related transactions. The pool, which recently closed its .2 million seed round led by former X CEO Jack Dorsey, excludes certain Bitcoin Ordinals transactions using Knots, a Bitcoin node known to apply these filtering policies.
Giacomo Zucco, who was part of the conference as part of the relaunch of the pool, confirmed this fact, stating that it was currently using several filtering policies, excluding what he called “spam.”
Zucco stated:
Some ‘inscription’ spam is done this way, so it’s filtered away from Knots, which Ocean uses right now for centralized template creation. So shitcoin spammers will have to wait [for] phase2 of Ocean (the real deal) to create their own templates full of sh*t. I guess they are impatient.
Ocean’s Bitcoin Mechanic also acknowledged this, stating that the pool would “continue to filter inscriptions spam,” inviting others to mine with other pools if this bothered them.
The issue was first raised by checksum0, co-founder and CTO at Pow.re, a Bitcoin mining company, when he found that Ocean was excluding high-value transactions “costing on average 5-10% in fees, much more sometimes.” He declared:
Doing spot check of high-paying transactions, I have seen no transactions including any data after op_false … Mining with Ocean WILL cost you money.
The findings divided the cryptocurrency community, with some considering this filtered data as spam and agreeing with the measure, while others rejected this behavior, stressing that this was considered censorship. F2Pool, another Bitcoin mining pool, recently admitted it had been excluding transactions from OFAC-flagged addresses but ceased after facing a backlash from the community.
What do you think about the transaction filtering policies of Ocean? Do you believe they constitute censorship? Tell us in the comments section below.
Bitcoin Indicator Backed By Founders Of Top Crypto Data Analytics Firm Predicts Bullish Trends
Bitcoin (BTC) enthusiasts are keeping a close eye on the latest market trends, and the recent insights from Glassnode’s co-founders, Jan Happel and Yann Allemann, have stirred up a new wave of excitement.
The duo, known by their Negentropic handle on the social media platform X, have shared some compelling perspectives that shed light on the current dynamics of the BTC market.
Bitcoin’s market demand has outpaced its supply, a clear sign of robust positive momentum.
In just one day, a whopping 700,000 new BTC addresses joined the network. This expansion is considered one of the most reliable indicators for price predictions.
With fewer BTC coins… pic.twitter.com/zAcgFc9LkS
— 𝗡𝗲𝗴𝗲𝗻𝘁𝗿𝗼𝗽𝗶𝗰 (@Negentropic_) November 6, 2023
Surging Market Demand And Supply Imbalance
Happel and Allemann’s recent observation of the surging market demand outpacing BTC’s supply has triggered a wave of optimism among investors. They emphasized the remarkable influx of a staggering 700,000 new BTC addresses within a single day, highlighting this expansion as one of the most promising indicators for BTC price predictions.
As the number of BTC coins in circulation decreases, the co-founders anticipate an upward pressure on buying bids, potentially driving the BTC price even higher.
As of now, the current price of BTC, according to CoinGecko, stands at ,255, with a 2.0% gain in the last 24 hours and a 2.7% increase over the past week.
Unpredictable Shifts In Market Dynamics
A closer look at the current state of the BTC market reveals a dynamic landscape where buyers are expected to embrace a proactive approach, potentially entering the market without waiting for significant dips.
The co-founders’ analysis suggests that the rapid pace at which BTC is evolving has created an environment where investors are compelled to make timely decisions, leading to an intensified buying spree and consequent upward pressure on the cryptocurrency’s valuation.
The recent surge in the utilization of Bitcoin futures and options has captured the attention of both the media and seasoned investors. Glassnode’s Happel and Allemann speculate that this increasing demand for leverage is primarily fueled by investors’ anticipation of two highly bullish catalysts slated for 2024.
The first catalyst revolves around the long-awaited potential for a spot BTC Exchange-Traded Fund (ETF), a development that could significantly boost institutional adoption and drive further demand for BTC.
Secondly, the prospect of the Bitcoin halving event has emerged as another powerful incentive, drawing the attention of investors who anticipate a subsequent scarcity-driven price surge.
As the BTC market continues to evolve and capture the attention of both seasoned investors and newcomers alike, the observations and insights shared by Glassnode’s co-founders serve as valuable signposts, guiding market participants through the intricate maze of cryptocurrency investments and market dynamics.
The latest developments in the world of Bitcoin point to a market in which demand is outstripping supply, potentially setting the stage for a bullish run.
(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).
Featured image from Shutterstock
xDay 2023 Day 3: Runtime And MultiversX Launch ZK Rolloups Backed With NASA Tech
In the next three days, our team at NewsBTC will cover xDay 2023, an event organized by MultiversX in the Palace of Parliament, Romania. Formerly known as Elrond, the project rebranded in 2022 and focused on the Metaverse, scalability, and global adoption by simplifying users’ access to crypto.
During the event’s final day, security audit firm Runtime Verification announced the launch of PI Squared, a universal ZK Rollup that will run on the MultiversX blockchain. The scaling solution is backed by technology developed by the U.S. National Aeronautics and Space Administration (NASA).
Grigore Rosu, CEO and President at Runtime Verification presented this solution on the event’s main stage. PI Squared aims to make the MultiversX ecosystem more efficient and attract new developers to ship products on this network by reducing verifying computational claims to verifying mathematical proofs.
According to a press release shared with our team, the scalability solution will use a universal proof check implemented via a custom ZK circuit. PI Squared was developed as a programming language and Virtual Machine (VM) agnostic.
In other words, developers can work on products with any programming language and bring their app to MultiversX more efficiently while maintaining the underlying security and scalability of the MultiversX blockchain.
xDay 2023: Interview With Grigore Rosu, CEO Of Runtime Verification
After the presentation at xDay 2023, our team got to speak with Grigore Rosu about his impression of xDay, the sentiment, and what PI Squared represents for MultiversX and the entire space, as the solution can be implemented and leveraged by any developer in any programming language. This is what he told us.
Q: How do you feel here? What do you think about the atmosphere and the people?
A: This is a wonderful conference. It’s unbelievable how many people are here. More than 2000 people. I didn’t expect that. I’ve been at several recent crypto conferences and it was hard to fill the room or even fill the first few rows of seats in the room. But this is just packed with two big amphitheaters and everything is just packed and people are amazing. Discussions are amazing. The MultiversX team is amazing. It’s just wonderful to be here.
Q: What makes the MultiversX ecosystem, and their team, unique and why did you decided to work on this network?
A: I knew them from day zero. I’m an advisor for Multiverses X and I met Beniamin Mincu (Co-founder of MultiversX) before, right after they had a white paper written (…). I really liked them from the beginning and in one word I think is passion. Indeed, they are very passionate about what they do. They believe in it, and when you believe in something, it happens. Self prophecy, they have one of the fastest, most reliable blockchains out there, the lowest fees. And it has never stalled. Like other blockchains, it works as specified, fast, cheap, and also programming language efficient. I think it was a good idea not to use EVM (Ethereum Virtual Machine) as an execution infrastructure because EVM is a pretty ad hoc language that was invented quickly to serve a specific purpose to launch Ethereum. But everybody who writes programs or audits them knows that EVM has many limitations. So I think it was a smart that they didn’t use EVM. I would say passion and good decisions along the way. That’s what I like the most about.
Q: What does the launch of the PI Square protocol mean for the users?
A: So we had this idea for a while now, it took shape. We have a prototype and we needed a destination chain to launch it as a universal ZK roll-up. Speaker 2 (05:09):
in PI Square, there is no predetermined language, but we need a destination chain because we do not want to have to implement a decentralized network and consensus algorithms right away. We’d like to stage it. You ultimately, we may do that, but we’d like to stage it. So we’d like to first deploy by squared as a universal scale up on a destination chain. And to be honest, I cannot think of any better destination chain than MultiversX for the same reasons I told you before.
It’s cheap. If we do it on Ethereum, for example, we’ll have to pay very high fees to do transactions as we prototype. There is a lot of word prototyping development before you launch and all those translate into transactions, big transactions, very expensive transactions on the destination chain. So think about it this way in one sentence. So PI squared will bring all the programming languages and virtual machines to multiverse X, but without the errors that usually come with compilers or interpreters. Developers will develop programs better faster, and that is expected to increase the number of applications that we’ll see on multiple sec and ultimately more users, happier users.
As of this writing, Bitcoin trades at ,800 with sideways movement in the last 24 hours.
Cover image from MultiversX, chart from Tradingview