In a recent announcement made by Jack Dorsey’s fintech company Block Inc., it was revealed that they have successfully completed the development of an advanced Bitcoin mining chip. This achievement marks a significant milestone for the firm’s mining project and has the potential to revolutionize the mining industry. The Importance of Advanced Technology Block’s three
Crypto
Venezuela’s state-owned oil and gas company PDVSA has unveiled plans to expedite the use of cryptocurrency, particularly USDT, to evade US sanctions. The company initiated the integration of USDT for oil sales back in 2023 and has now introduced a new policy requiring new customers to possess a digital wallet containing cryptocurrency. The decision to
The recent Bitcoin halving event, which occurred on April 20, has brought about a significant challenge for miners in terms of profitability. With block rewards being reduced by half, from 6.25 BTC to 3.125 BTC, miners are now facing a situation where they need to rely more on transaction fees and higher BTC prices to
The upcoming week in the United States is packed with key economic data releases that could have a significant impact on the direction of crypto markets. New home sales figures are set to be released on Tuesday, providing insights into the overall economy and consumer confidence. Alongside this, April’s S&P Global Manufacturing PMI and S&P
The recent Bitcoin halving event has caused a significant reduction in miners’ block rewards, resulting in a decrease in the daily issuance of BTC. This has a direct impact on the inflation rate of Bitcoin, making the digital asset scarcer in the market. As a basic economic principle, a decrease in supply coupled with steady
In the first quarter of 2024, NFT trading volumes across the top 10 marketplaces reached an impressive $4.7 billion. Leading the pack was Blur, maintaining its position as the top NFT marketplace with $1.5 billion in volume and capturing a market share of 27.6%. This marked a significant increase from the previous quarter, solidifying Blur’s
The recent news of MicroStrategy founder Michael Saylor selling up to 370,000 shares of his brainchild comes as a significant development for the company. This follows his entry into a stock-sale agreement with the company last year, allowing him to unload up to 400,000 shares until April of this year. The total value of the
Ethereum, after going through a rapid downturn, has managed to find solid support within a critical zone. This zone includes the 100-day moving average and a significant price range between the 0.5 and 0.618 Fibonacci levels. The presence of this support zone indicates a potential bullish rebound in the medium term. A closer look at
Bitcoin’s fourth halving event has finally taken place, reducing the block reward from 6.25 BTC to 3.125 BTC. This significant reduction marks a pivotal moment in the cryptocurrency industry, as it has now cut the daily issuance of Bitcoin in half, down to approximately 450 Bitcoin from the previous 900. This decrease in supply will
Binance, the world’s largest cryptocurrency exchange, faced a ban by the Indian government but is now making a comeback after agreeing to pay a penalty of $2 million. This move comes as Binance prepares to re-enter the Indian market under the oversight of the Financial Intelligence Unit (FIU) within the finance ministry. The exchange will
