U.S. spot bitcoin exchange-traded funds (ETFs) experienced their third consecutive day of outflows on Monday, losing over 5 million. Fidelity’s FBTC continued to lead the outflows with million exiting the fund on June 17. Fidelity’s FBTC and Ark Invest’s ARKB Among Biggest Losers During Monday’s Outflow According to sosovalue.xyz metrics, U.S.-based spot bitcoin ETFs […]
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Paradigm Secures $850 Million for Third Crypto Fund, Targets Early-Stage Projects
On June 13, the leading San Francisco-based crypto-focused venture capital firm Paradigm revealed it has secured its third fund, totaling 0 million, aimed at early-stage crypto projects. Paradigm Announces 0 Million Fund Established in 2018 by Coinbase co-founder Fred Ehrsam and ex-Sequoia partner Matt Huang, Paradigm ranks among the leading crypto investment firms, overseeing billions […]
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Investment Firm Franklin Templeton Believes Solana Will Become the Third Largest Crypto Asset
Franklin Templeton, a leading investment firm with over .5 trillion in assets under management (AUM), believes Solana has the potential to become the third-largest cryptocurrency in the market. The firm praised the resilience of the project, its continued airdrops, and the work developers have undertaken to fix the network’s recent congestion issues. Franklin Templeton: There […]
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Market Resilience Tested as NFT Sales Fall for Third Consecutive Week
Sales of non-fungible tokens (NFTs) have dipped once more, marking the third consecutive week of decline, with a 14.97% decrease compared to the previous week. Leading the charge in this week’s sales from March 23 to March 30, Bitcoin NFT transactions amassed .61 million, despite experiencing a 3.8% drop from the previous week’s figures. Despite […]
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Mega Whale Moves 2,000 Dormant Bitcoins From 2010 in Third Series of Transfers This Month
On March 1, a well-known colossal whale holding bitcoins from 2010 activated 2,000 dormant bitcoins across 40 transactions in a single block. Just four days afterward, on March 5, this entity once more made waves by transferring 1,000 bitcoins originating from the same year. For the third instance in March, this entity has returned, reallocating […]
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Polygon-Based Prediction Market Shows Michelle Obama Rising to Third in 2024 Election Odds, Challenging Trump and Biden
24 days ago, Bitcoin.com News delved into Polymarket’s decentralized prediction market odds for the 2024 U.S. elections, with former President Donald Trump at the forefront, closely trailed by the sitting President Joe Biden, and the ex-U.S. Ambassador to the U.N., Nikki Haley. Since that report, the dynamics have shifted significantly, with Michelle Obama, former President […]
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Recent Approvals of Spot Bitcoin ETFs May Prompt Release of Third Iteration of ‘Token Safe Harbor Proposals’ – Hester Pierce
Approval of spot bitcoin exchange-traded funds may necessitate the release of a third iteration of the Token Safe Harbor Proposal, Hester Pierce, a commissioner with the U.S. Securities and Exchange Commission, has said. The commissioner argued that it’s illogical to subject a nascent token project to the same disclosure rules applicable to a company with […]
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Taproot Wizards Postpones ‘Quantum Cats’ Mint for the Third Time Amid Technical Setbacks
Technical difficulties have led Taproot Wizards to delay the minting of their “Quantum Cats” Bitcoin Ordinals collection for a third time. The team’s efforts to address unforeseen challenges and ensure a flawless minting experience have pushed back the launch date.
Taproot Wizards Faces Third Setback, Delays ‘Quantum Cats’ Mint for More Testing
Taproot Wizards, the team behind the eagerly anticipated “Quantum Cats” collection, has announced yet another delay in the minting process. This marks the third postponement of the sale, casting a shadow over what was heralded as a high-profile launch in the world of Bitcoin-based NFTs.
Originally scheduled to capitalize on the growing fascination with Bitcoin Ordinals, the “Quantum Cats” collection has faced hurdles. Taproot Wizards’ ambition to innovate the minting process, aiming to circumvent common issues such as mempool sniping and fee wars, has encountered unexpected challenges, leading to the latest delay.
The team’s recent post on X revealed their decision to push back the mint date revolved around their commitment to ensuring a fair and secure experience for their community. Despite successful collaborations with Ordinalhub/Luxor, a leading tech firm renowned for its work with prominent brands like Yuga Labs and Degods, the overwhelming demand from the community took the team by surprise.
Monday’s attempt to mint approximately 3,000 “Quantum Cats” at a fixed price of 0.1 BTC each — a venture that could amass around million — was thwarted by technical difficulties. The mint was rescheduled for Thursday, but late Wednesday another delay to Feb. 5 was announced. The technical issues have since been addressed, according to the team, but the need for further testing to eliminate any potential unknown bugs led to the decision to delay again.
The Quantum Cats team expressed their dedication to the community’s safety and fairness, stating that the mint for whitelist holders is now rescheduled for Monday, Feb. 5, at 12pm ET, with a public mint to follow after a brief intermission.
Despite these setbacks, Taproot Wizards remains hopeful, urging patience and understanding from their community.
Will this be the last delay? Share your thoughts and opinions about this subject in the comments section below.
Bitcoin’s Ordinal Inscriptions Soar Beyond 55 Million, Achieving Third Highest Daily Record
Following the weekend, the tally of Ordinal inscriptions on the Bitcoin blockchain surpassed 55 million. Notably, on Jan. 13, 2024, the blockchain witnessed its third-highest day of inscriptions, settling an impressive 477,751 inscription-based transactions on Saturday. Additionally, from the inception of the first inscription in December 2022, bitcoin miners have amassed 6 million worth of bitcoin, capitalizing on this growing trend.
Miners Net 6 Million From 55 Million Inscriptions
From Dec. 28, 2023, to Jan. 12, 2024, the pace of daily Ordinal inscriptions on the Bitcoin blockchain moderately decelerated. However, a surge occurred on Saturday, Jan. 13, marking a record-breaking number of daily inscriptions. This date became the third-largest in terms of inscriptions, with an impressive 477,751 added to the blockchain. That day, approximately 652,483 transactions were processed, with inscriptions comprising a notable 73.22% of all miner-confirmed transfers.
Continuing the trend, on Sunday, Jan. 14, 2024, the blockchain saw another substantial 446,783 inscriptions being incorporated into the distributed ledger system. This indicates that, of the 591,806 verified transfers, a substantial 75.49% were inscription-based. Furthermore, following these two record-setting days, the total number of inscriptions impressively exceeded the 55 million threshold this weekend. Among these inscriptions, miners have accumulated a total of 5,750 BTC, valued at 6 million, based on the current BTC exchange rates.
Around .7 million in fees from inscriptions were paid to miners on Jan. 13 and the following day, miners accrued another .94 million. Bitcoin miners are reaping the benefits from fees paid by inscriptions and on Dec. 16, 2023, miners nabbed .9 million in fees. Moreover, the number of inscriptions per block has increased a great deal as minters have learned ways to fit in as many as possible. Data further shows that there are 278,296 recursive inscriptions on the chain as well.
Recursive ordinal inscriptions entail retrieving and incorporating data from existing inscriptions to craft new ones. In the realm of Ordinal inscriptions traded on non-fungible token (NFT) markets, Bitcoin has taken the lead in the past 30 days, boasting 9.53 million in digital collectible sales. Ethereum, previously the frontrunner in NFT blockchain, recorded 1.18 million in sales during the same period. Yet, on a weekly basis, BTC’s lead is marginal, with sales of .68 million, narrowly surpassing Ethereum’s .42 million.
What do you think about Ordinal inscriptions surpassing the 55 million mark and the third highest day of inscriptions on record? Share your thoughts and opinions about this subject in the comments section below.
BONK’s Meteoric Rise: Outpaces PEPE with 621% Surge, Secures Third Place in Meme Coin Market
In recent weeks, the meme-inspired cryptocurrency bonk (BONK) has experienced substantial growth against the U.S. dollar and has now overtaken pepe (PEPE) to become the third largest meme coin in terms of market capitalization. In the past month alone, the Solana-based BONK surged over 621% in value when measured against the greenback.
BONK’s Astonishing Climb; Solana-Based Meme Coin Overtakes PEPE
The meme coin bonk (BONK) has emerged as a leader in the cryptocurrency market regarding 30-day gains. Upon its introduction on Dec. 25, 2022, it was valued at .21 million in market terms. As of today, BONK’s market capitalization has reached a striking .23 billion, marking a thousandfold increase in its value over the past year. Currently, BONK is the third-largest meme coin after displacing PEPE.
In the last month, BONK has experienced a 621% surge, with 325% of this growth occurring in just the past two weeks. This week alone, BONK’s value increased by 82%, though it witnessed a 14% decline in the last 24 hours. Originating from Solana, BONK is a dog-themed meme token, aligning with the broader meme coin movement in the cryptocurrency sector.
A significant share of BONK’s supply was distributed to Solana artists, collectors, and developers, contributing to a rejuvenation of liquidity on the SOL chain. The team behind BONK maintains their anonymity, and there’s white paper available that elaborates on the project’s complexities. The project primarily makes its presence known through social media, especially X (formally Twitter), and its official website bonkcoin.com.
Currently, rich list data reveals that 519,773 unique Solana-based addresses possess BONK. The distribution of BONK is notably concentrated, with 32.99% of the supply in the hands of the top ten wallets. The top 20 wallets hold 39.93% of the supply, while the top 100 holders control 54.86% of all BONK in circulation. As of Dec. 17, 2023, there are 56.02 trillion BONK tokens in existence issued on the Solana chain.
The trajectory of BONK, as with many crypto assets and particularly meme coins, remains unpredictable. Its contribution to reigniting interest in the Solana ecosystem is evident, but its enduring success will likely hinge on continued community involvement and the wider market dynamics. BONK’s rising popularity has spurred the sell-out of the Solana smartphone. Solana co-founder Raj Gokal has disclosed significant growth in Saga sales, stating that they increased more than tenfold in 48 hours on Dec. 14.
What do you think about the crypto industry going bonkers over BONK? Share your thoughts and opinions about this subject in the comments section below.