On Wednesday, the U.S. spot bitcoin exchange-traded funds (ETFs) saw a modest uptick in positive inflows, amassing a total of 3.5 million across a trading volume of .31 billion. The group of ten spot bitcoin ETFs, excluding Grayscale’s Bitcoin Trust GBTC, now encompasses 507,472.89 BTC or 2.57% of the total circulating supply of 19.67 million […]
Bitcoin News
BTC and ETH Derivative Tokens Dominate by Securing Several Top Positions in the Crypto Economy
Throughout this month, bitcoin and ethereum have risen to their highest valuations in years. These two pivotal crypto assets have substantially influenced the cryptocurrency market, with bitcoin currently holding a 51.9% market dominance and ethereum at 17% as of mid-March 2024. Furthermore, in recent years, derivative tokens of bitcoin and ether have garnered significant popularity. […]
Bitcoin News
Bitcasino.io Player Strikes Gold Twice, Securing $4.5M in Winnings
PRESS RELEASE. February 15, 2024, London, UK — In a remarkable story one Bitcasino.io player has won a huge jackpot and another big win in the space of a few weeks, earning a massive .5 million dollars. Bets were placed in USDT cryptocurrency, with joy found in a Max Win, followed by a Big Win […]
Bitcoin News
Blackrock’s IBIT Bitcoin Reserves Soar, Securing 70,005 BTC Valued at Nearly $3 Billion
According to the latest metrics, Grayscale’s Bitcoin Trust, commonly referred to as GBTC, saw a decline of approximately 9,520.27 bitcoins, valued at around 0 million, between Jan. 31 and Feb. 1, 2024. During a two-day period, Blackrock’s spot bitcoin exchange-traded fund (ETF), IBIT, expanded its reserve holdings from 63,488.22 bitcoins to the current total of 70,005.56.
GBTC and IBIT in Flux: Bitcoin Trusts Show Diverging Trends
GBTC recently parted ways with another tranche of bitcoins, as it bid farewell to 9,520.27 BTC in a mere 24-hour window. As of Wednesday, GBTC boasted a bitcoin stash of 492,112.45, but the current tally on Friday stands at 482,592.18 BTC. This shift in holdings brings the estimated value of Grayscale’s Bitcoin Trust balance sheet to a substantial .74 billion. On a contrasting note, while GBTC experienced a downturn, Blackrock’s IBIT welcomed a fresh wave of deposits.
Blackrock’s IBIT has risen from 63,488.22 BTC to its current stash of 70,005.56 BTC, with an estimated value of .98 billion. Notably, IBIT’s reserves experienced a jump of 6,517.34 BTC within a 48-hour timeframe. A prospectus and holdings update dated Feb. 1 for the Fidelity Wise Origin ETF, FBTC, reveals a similar trend, as the fund expanded its bitcoin holdings. Starting with 53,802.34 BTC on Wednesday, FBTC now proudly boasts 59,224.11 BTC.
Fidelity’s assets under management (AUM) for FBTC presently stand at a substantial .53 billion. Meanwhile, Ark Invest’s 21shares ETF, ARKB, has climbed from 15,175 BTC to the current 15,520 BTC. According to onchain statistics, the Bitwise BITB fund has also grown, progressing from 14,039.54 BTC to its current 14,955.52 BTC. Invesco Galaxy ETF BTCO witnessed a slight increase from 6,898 BTC to 7,001 BTC under management.
While Vaneck’s HODL ETF balance of 2,941.9 BTC remained stable during the 24-hour period, Valkyrie’s BRRR ETF saw growth from 2,635.29 BTC to 2,649.46 BTC. Franklin Templeton’s cache of 1,421 BTC remained unchanged throughout this timeframe. Lastly, Wisdomtree’s BTCW ETF maintains its holdings at 260 BTC. In total, these nine new ETFs collectively possess an impressive cache of 173,977.55 BTC, valued at an estimated .48 billion.
What do you think about the number of bitcoins spot ETFs amassed over the past few weeks? Share your thoughts and opinions about this subject in the comments section below.
Value Locked in Defi Surpasses $57 Billion, Securing Over $20 Billion in 3 Months
Data from defillama.com reveals that over the past 93 days, the total value locked (TVL) in decentralized finance (defi) protocols escalated from .46 billion on Oct. 20, 2023, to the present .74 billion. Notably, 57.3% of the total value in defi is anchored in the Ethereum blockchain, while Lido’s liquid staking protocol accounts for 40.21% of this aggregate.
TVL in Defi Jumps 54%
The value locked in decentralized finance (defi) protocols has significantly increased in 2024 compared to the previous year. Since Oct. 20, 2023, there has been a 54.13% surge, bringing the total value locked (TVL) to an impressive .74 billion. Lido stands out as the largest protocol in terms of TVL, which has climbed by 10.66% since last month, now standing at .22 billion.
Following Lido, Maker, the second-largest defi protocol, has experienced a slight dip of about 1.52% over 30 days, with its TVL at approximately .41 billion at the time of reporting. The top five defi protocols by TVL size also include Aave (.22B), Justlend (.09B), and Uniswap (.34B). Aave has seen a 10.34% increase in TVL over the past 30 days, while Justlend has seen a decrease of 9.43%.
Uniswap, however, has reported the most significant growth among the top five, with its TVL rising by 78.56% since last month. Among these defi applications, four are built on the Ethereum blockchain, with Justlend being the exception as a Tron-based protocol. Ethereum continues to lead in the defi space, commanding 57.3% of the aggregate TVL, which amounts to .10 billion. Tron’s .86 billion in value makes it the second largest chain by TVL size.
Ethereum and Tron are followed by Binance Smart Chain (BSC) with .50 billion, Arbitrum with .64 billion, and Solana with .38 billion. Solana saw the biggest monthly increase over the 30-day mark with a 38.52% rise. Ethereum followed with a 10.57% increase since last month. Tron was the only blockchain that saw a 30-day reduction after 5.44% was erased over the past month. Notable chains that saw significant TVL growth besides the top five were SUI, MANTA, and APT.
As the defi landscape evolves, uncertainty still looms over its future trajectory. Despite a strong growth pattern in TVL, evident since October 2023, there’s been a noticeable deceleration since Jan. 10, 2024. Slowdowns like these can cast doubt on the sustainability of the current growth trend in defi. Whether this burgeoning sector can maintain its momentum remains an open question, but so far the growth has added .28 billion in value over the last 93 days.
What do you think about the state of defi in 2024? Share your thoughts and opinions about this subject in the comments section below.
Bitcoin Mining Revenue Soared in October, Securing Second-Highest Monthly Earnings of 2023
In October, the landscape of bitcoin mining revenue brightened, climbing by 1.45 million over September’s figures. Last month’s surge in BTC prices significantly bolstered revenues, although there was a slight dip in the earnings from fees, which saw a .44 million decrease from the previous month. October emerged as the runner-up for the year in terms of monthly revenue generated from BTC block rewards.
Staying Alive — October Marks Near-Record 2023 Earnings for Bitcoin Mining
As of this report, a total of 43 distinct mining pools are channeling SHA256 hashpower toward the Bitcoin blockchain. Collectively, they contribute an impressive 463 exahash per second (EH/s).
In the past month, Foundry USA led the charge, discovering 28% of the block rewards, while Antpool was close behind, securing 27% of the subsidies in October. Not to be overshadowed, both F2pool and Viabtc each claimed about 11%, and Binance Pool rounded out the group by locating 7.23% of the month’s total block finds.
The month of October didn’t just bring about a windfall for miners; it also marked a trio of successive network difficulty increases, culminating with the last 2.35% hike to a record-setting 62.46 trillion difficulty level.
This figure represents the most formidable challenge bitcoin miners have faced throughout the network’s existence. Amid the price surge, Bitcoin miners experienced a revenue increase of 1.45 million in October, surpassing September’s total earnings of 3.6 million.
October’s revenue for bitcoin miners not only topped the 7.01 million total from August but also saw a slight shift in fee collection. Although fees in October topped August’s .2 million, they did not reach the heights of September, falling .44 million short.
Miners enjoyed .4 million in fees in September, but this number dipped to .96 million in October. A contributing factor to this fee reduction may be linked to a decrease in Ordinal inscriptions, though there has been a recent uptick in this activity.
In the crypto community, October has been affectionately termed ‘Uptober,’ and fittingly, it delivered the second-highest monthly revenue for miners in the year 2023, only trailing behind May’s impressive 9.22 million haul.
What do you think about bitcoin miner revenue improving in October? Share your thoughts and opinions about this subject in the comments section below.
Securing Web3 With Zero Trust: Empowering Data, Smart Contracts, and AI on the Blockchain With Mind Network
In the rapidly evolving world of Web3, where data security and privacy are paramount, innovative solutions are needed to protect sensitive information and establish trust within the decentralized ecosystem. This sponsored article delves into the concept of Zero Trust and explores how it serves as the foundation for a revolutionary platform called Mind Network. By combining the principles of Zero Trust with cutting-edge encryption techniques, Mind Network aims to empower users, developers, and businesses to secure their data, smart contracts, and AI models on the blockchain. Mind Network recently closed its seed round fundraising, led by Binance Labs and co-invested by SevenX Ventures, HashKey Capital, Arweave SCP Ventures, etc. Mind Network was incubated by Binance Incubation Camp Season 5 and selected into Chainlink BUILD Program.
The Rise of Zero Trust Security
Traditional security paradigms in Web2 environments relied on the assumption of trust within a centralized infrastructure. However, the increasing frequency of data breaches and cyberattacks has exposed the vulnerabilities inherent in this approach. Enter Zero Trust Security, a modern strategy built on the principle of “never trust, always verify.” Zero Trust assumes that breaches have either already occurred or are imminent, prompting the need for continuous verification of every request, irrespective of its origin.
Zero Trust Principles for Enhanced Security
Zero Trust Security operates on several core principles that ensure robust data protection and access control:
Verify Explicitly: Each request, regardless of its source, must be explicitly authenticated, authorized, and verified before granting access.
Use Least-Privilege Access: Access permissions are granted at the most minimal level necessary, reducing the risk of unauthorized access and potential data breaches.
Assume Breach: Zero Trust assumes that breaches are inevitable, which prompts continuous monitoring, verification, and mitigation measures throughout the system.
Challenges in Web3 Security and Why Zero Trust
The decentralized nature of Web3 introduces unique security challenges that demand innovative solutions. These challenges include:
Data Privacy and Ownership
Web3 emphasizes individuals’ control over their personal data, financial transactions, and user interactions. However, existing applications often lack proper encryption and access control support, risking user privacy.
On-Chain Data Protection
Exposing wallet addresses and smart contract interactions in public ledgers poses security threats and potential financial losses. Protecting this data is crucial to maintaining user trust in decentralized systems.
Decentralized Storage Risks
Decentralized storage systems rely on untrusted node operators to store and compute data, creating potential vulnerabilities and compromising data confidentiality.
Trust and Reliability
Ensuring trust and reliability in decentralized systems during computation and state updates is vital to prevent financial losses and maintain the integrity of the network.
Why does Web3 need Zero Trust?
Data Ownership and Privacy challenge needs to remove intermediary or superuser who is assumed to be trusted. It meets the second principles of Zeo Trust to use least-privilege access. Zero Trust assumes breaches are inevitable, which is the foundation to On-Chain Data Protection challenge. Zero Trust can promote verification explicitly to Decentralized Storage Risks challenge. Therefore, a Zero Trust implementation is demanded in Web3.
Introducing Mind Network: Empowering Web3 Data Security
Mind Network is a pioneering platform that brings Zero Trust principles to the Web3 landscape. Built on the foundation of a Zero Trust Data Lake, Mind Network focuses on securing data, smart contracts, and AI models in a decentralized manner. By utilizing Zero Knowledge Proof (ZKP) and the patented Adaptive Fully Homomorphic Encryption (AFHE) technique, Mind Network enables end-to-end encrypted computation and storage for on-chain private data.
Mind Network offers a comprehensive set of solutions designed to enhance security and privacy in Web3 applications:
Encrypted Read and Write Solution
Developers can securely connect their decentralized applications (dApps) to Mind Network, enabling encrypted read and write operations on sensitive data. Encrypted data remains inaccessible to Mind Network and its node providers, ensuring privacy and security.
Encrypted Content Sharing Solution
Mind Network enables the secure sharing of encrypted data between dApps using tokenized access control. This solution is invaluable in data marketplaces, private subscription services, and other scenarios requiring controlled data sharing or monetization.
Privacy-Preserving Computation Solution
Developers can perform privacy-preserving computations on encrypted data within Mind Network. This allows for various use cases, including executing order books, credit evaluations, medical research, and legal protection.
Secure Data Verification Solution
Mind Network provides a solution for verifying users’ encrypted data and computation results. This allows decentralized applications (dApps) to verify specific rules without accessing the content, ensuring the integrity of social connections, voting results, asset positions, risk scores, and more.
Secure Data-Driven Smart Contracts Solution
Mind Network collaborates with Chainlink to address data transfer limitations from off-chain to on-chain smart contracts. Encrypting data and performing computations on encrypted inputs ensures privacy and security for use cases such as trading signals, financial models, on-chain gaming, and more.
Securing AI Models with Mind Network’s Zero-Trust Solution
Mind Network’s Zero-Trust AI Solution offers robust protection for AI models, mitigating the risk of unauthorized manipulation and ensuring end-to-end security. Enabling encrypted input and output safeguards against unpredictable damage to financial markets and user interests.
Mind Network’s Zero-Trust AI Solution defends against unauthorized manipulation and addresses additional risks. It can potentially mitigate model collapse, preventing decreased accuracy and biased outputs over time. Furthermore, it tackles the challenge of ‘proof of human data,’ verifying the authenticity and integrity of training datasets. By adopting this secure framework, AI models can operate with transparency and trust, bolstering confidence in AI-driven systems across industries.
Mind Network’s Zero-Trust AI Solution provides a reliable foundation for deploying AI models in finance, healthcare, and other domains. It promotes responsible AI adoption, safeguarding against potential harm and ensuring the integrity of decision-making processes.
Use Cases for Mind Network
dWeb Use Case: Mind Network serves as a secure data lake for decentralized web applications, allowing them to persist front-end data using decentralized storage while accessing encrypted data from Mind Network. This use case applies to UGC platforms, social and gaming platforms, DeFi, and middleware protocols.
TradFi Use Case: Traditional financial institutions can leverage Mind Network to generate risk profiles for crypto investor customers while preserving their privacy. By encrypting customer wallet lists and combining them with on-chain data, risk assessments can be performed without compromising user confidentiality. This use case extends to areas like fraud detection, compliance, and anti-money laundering (AML).
AI Use Case: Mind Network addresses privacy protection challenges in social networks by combining encryption and social relationships. For instance, photos can be pre-processed, encrypted, and stored on Mind Network, giving users control over their data and access based on their social connections.
DeFi Use Case: Mind Network enhances transparency and control in trading platforms by encrypting trading positions and order books, enabling secure and private trading without exposing sensitive information. This use case applies to spot, derivative, dark pool, and cross-chain exchanges.
Team
The Mind Network team comes from a solid background, with special mentions for the CTO, George, who was a researcher at Cambridge University and has had his research in cryptography adopted by the United Kingdom government and high-street banks, and Dennis, the CSO, is the first white hat hacker to hack Tesla in 2014. The rest of the team is assembled with serial entrepreneurs, award-winning scientists, and Web3 marketing veterans.
Investors and Partners
Mind Network has closed its seed round fundraising. This round is led by Binance Labs and co-invested by Comma3 Ventures, SevenX Ventures, HashKey Capital, Big Brain Holdings, Arweave SCP Ventures, Meridian Capital, etc. Mind Network was incubated by Binance Incubation Camp Season 5 as the only data project and selected into Chainlink BUILD Program. Even early, Mind Network established strong partnerships with Binance, Chainlink, Consensys, and Arweave. It acquired early supporters, including well-known global banks, insurance companies, and various dApps and protocols.
Final Recap
Mind Network’s innovative Zero Trust Data Lake presents a groundbreaking solution for securing data, smart contracts, and AI in the Web3 ecosystem. By implementing Zero Trust principles and leveraging advanced encryption techniques, Mind Network empowers users, developers, and businesses to maintain privacy, protect sensitive information, and establish trust within the decentralized landscape. Mind Network paves the way for a more secure and privacy-focused Web3 future with its comprehensive suite of solutions.
For more information about Mind Network, please reach out to us on:
Website: https://mindnetwork.xyz/
Twitter: https://twitter.com/mindnetwork_xyz
Medium: https://mindnetwork.medium.com/
Gitbook: https://mind-network.gitbook.io/mindnetwork/
Github: https://github.com/mind-network
Discord: https://discord.gg/UYj94MJdGJ
Telegram: https://t.me/MindNetwork_xyz
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30-Day Bitcoin NFT Sales Surge to $173 Million, Securing Second Place in Blockchain Market
In the past month, recent data reveals that sales of non-fungible tokens (NFTs) originating from the Bitcoin blockchain have surged to 3.28 million. Surpassing 20 alternative blockchain networks, Bitcoin-based NFT sales now secure the second position in the realm of blockchain sales, with only Ethereum reigning supreme.
Bitcoin-Based NFTs Storm the Market, Surpassing 20 Blockchain Competitors
Amidst the fervor surrounding the Ordinal inscription trend, Bitcoin-based NFTs have skyrocketed in popularity. The sales amassed over the past 30 days firmly established the network as the second-largest in terms of sales within this time frame. While Ethereum NFT sales saw 2.23 million, this past month Bitcoin sales tallied up to 3.28 million, up 408.29% from the month prior.
However, there has been a significant 47% decline in the number of buyers for Bitcoin-based NFTs, totaling 6,955 over the course of the past 30 days. Insights from cryptoslam.io data highlight that the leading NFT collection, in terms of sales during this period, is the Bored Ape Yacht Club (BAYC).
The BAYC collection garnered ,307,853 in sales over the past month, closely followed by the Ordi BRC20 NFTs, which amassed a slightly lower amount at ,375,984. Noteworthy sales also transpired within other Bitcoin-centric NFT collections, including uncategorized Ordinals, as well as Space Pepes.
Sales from uncategorized Ordinals reached ,508,299, while Space Pepes accumulated ,247,480 in sales. Additionally, the Bitcoin Frogs NFT collection hopped its way to ,849,639, while $NALS NFTs secured around ,818,592 in sales over the past 30 days. The Bitcoin blockchain took center stage as the birthplace of the top five most expensive NFT transactions during this period.
These included a .5 million sale of a Space Pepe, as well as three uncategorized Ordinals that fetched prices exceeding a million dollars each. A Bitamigos NFT, for its part, commanded a .3 million price tag. It is also worth noting that nine out of the top-priced NFTs sold last month were derived from Bitcoin.
As of May 24, 2023, the Bitcoin blockchain has surpassed nine million inscriptions, coinciding with the surge in Bitcoin-based NFT sales. This trend has rewarded miners with an estimated value of approximately 1,495 BTC or .27 million since the emergence of inscriptions on the chain.
Initially, skepticism surrounded the ability of Bitcoin to generate sufficient NFT activity to rival prominent NFT blockchains such as Solana and Polygon. However, the oldest blockchain network in existence so far has demonstrated its prowess as a formidable competitor.
What are your thoughts on the rise in Bitcoin-based NFT sales? Share your opinions and insights in the comments section below.
Bitcoin, Ethereum Technical Analysis: BTC Hits $27,000, Securing Fresh 9-Month High
Bitcoin moved to a fresh nine-month high on Friday, as prices moved above the ,000 level. The surge comes following the U.S. Federal Reserve’s decision to backstop embattled banks to a record tune of 2.9 billion. Ethereum was also in the green in today’s session.
Bitcoin
Bitcoin (BTC) rose back above ,000 in today’s session, as markets reacted to the Federal Reserve’s decision to pump liquidity into the U.S. economy.
Following a low of ,624.74 on Thursday, BTC/USD raced to an intraday peak of ,002.39 earlier in the day.
As a result of the move, bitcoin climbed to its strongest point since June 2022, when price was above ,500.
Since this latest rally, the 10-day (red) moving average is now on the verge of an upwards crossover with its 25-day (blue) counterpart, which many see as a sign of a longer-term bull run.
In addition to this, the 14-day relative strength index (RSI) has broken out of a resistance level at 67.00, moving into overbought territory in the process.
At the time of writing, the index is tracking at 70.09, which is the strongest reading for the index since early February.
Ethereum
Additionally, ethereum (ETH) also surged higher in today’s session, with prices moving back above ,700.
ETH/USD hit a high of ,766.55 earlier in today’s session, which comes less than 24 hours after hitting a bottom at ,644.54.
The move saw the world’s second largest cryptocurrency move past a recent price ceiling at ,720.
Similar to BTC, it appears that an upwards cross between the 10-day (red) and 25-day (blue) moving averages is on the cards.
One hurdle for this cross will be the upcoming ceiling of 65.00 on the RSI, which is currently tracking at 62.86.
Should it move beyond this point, it is highly likely that ETH will be trading above ,800.
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Could ethereum hit ,800 this weekend? Leave your thoughts in the comments below.
Samsung-Backed Blockchain Firm Launches in UAE After Securing $16M
n Samsung-backed Blocko launches in UAE after securing million in fundingn
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