Bullish Outlook Ripple CEO Brad Garlinghouse recently shared his thoughts on the crypto market. He believes it could double in size by 2024, reaching $5 trillion. Factors Driving Growth Garlinghouse cites the approval of spot Bitcoin ETFs and the upcoming Bitcoin Halving as key drivers of this growth. He also emphasizes the increasing demand for…
Mining Pool Concentration Kadan Stadelmann, CTO of Komodo, has raised concerns about Bitcoin’s increasing centralization. He points out that two mining pools, Foundry USA and Antpool, control over 50% of Bitcoin’s hash rate. This concentration of power gives these pools significant influence over decision-making and potential censorship. Financial Institutions’ Involvement Stadelmann also highlights the growing…
Enhanced Performance and Accessibility Shibarium, the layer-2 blockchain from the creators of Shiba Inu (SHIB), has rolled out a major update that promises better performance and wider access. Multiple Wallet Support One key feature is support for multiple cryptocurrency wallets, including MetaMask, Coinbase Wallet, Rainbow, Trust Wallet, and Wallet Connect. This makes it easier for…
Supply Squeeze Bitcoin is like digital gold. To keep it scarce and valuable, the number of new Bitcoins released is cut in half every four years. This is called a “halving.” It’s like reducing the gold supply to make it more precious. Reward Reduction Miners who help verify Bitcoin transactions get paid in Bitcoins. On…
Crypto analyst Altcoin Sherpa warns that altcoins, such as Chainlink (LINK), may be entering a period of consolidation. Chainlink as an Example Sherpa points to Chainlink’s recent correction after a significant rally. He notes that many other altcoins have not experienced similar gains and are now also correcting. Sectors to Watch Despite the overall market…
Tether, the issuer of the popular stablecoin USDT, is branching out into new areas of business. The company has announced the creation of four new divisions: Data Focuses on emerging technologies like artificial intelligence (AI) and peer-to-peer platforms. Finance Aims to build financial infrastructure, including a digital asset tokenization platform. Power Ventures into crypto mining,…
A crypto investor who purchased Ethereum (ETH) at its lowest point in September 2022 is now selling some of their holdings. Whale’s Transactions Withdrew 96,638 ETH from Coinbase in September 2022 at an average price of $1,567. Deposited 15,000 ETH to Kraken in March 2023. Sent another 5,000 ETH to Kraken on Tuesday. Whale’s Holdings…
Crypto analyst Rekt Capital shares his insights on Bitcoin (BTC) after a recent 9% drop. Re-Accumulation and Fake Breakdowns Rekt Capital warns that Bitcoin’s current re-accumulation phase may lead to false assumptions of a breakdown. He notes that previous accumulation ranges have often included downward wicks that trick investors into thinking the trend is reversing,…
Bitcoin’s Price Fluctuations Bitcoin has seen a recent surge of 1.7%, but analysts at CryptoQuant warn of a possible downturn to $52,000 if key levels are breached. Derivative Market Uncertainty CryptoQuant highlights a cautious stance among derivative traders, with declining open interest and funding rates. This indicates traders’ concerns despite the entry of institutional players….
Goldman Sachs, a major investment firm, has shared its thoughts on the upcoming Bitcoin halving. Halving’s Influence on Bitcoin’s Value Historically, Bitcoin halvings have boosted its value. However, Goldman Sachs believes that this halving may have less impact. Factors Affecting Bitcoin’s Future Goldman Sachs emphasizes that other factors will play a bigger role in Bitcoin’s…
