In an interview with Cointelegraph, Trust Machines CEO Muneeb Ali explains how Ordinals’ hype could support Bitcoin by attracting more developers and capital to layer-2 solutions.
As AI develops apace, concern about proof-of-humanity is growing.
“Players will soon realize the heightened entertainment that comes with playing poker in an immersive Web3 environment,” said Eric Schiermeyer, founder of Gala Games.
The Shiba Inu community remains passionate about controlling its price action by eliminating excess tokens in circulation through burn events as the community has continued to burn SHIB tokens. Recent data from Shibburn.com reveals that 3.05 billion SHIB got burnt in eight separate burn transactions in the past seven days. The latest statistics represent a 75% increase in the total burn rates compared to the 1.75 billion SHIB burned the previous week. Related Reading: Bitcoin Plunges Below $27,000 As Miners Show Signs Of Selling Shiba Inu Token Burn Continues Blaze token has become the top-ranked SHIB burner in the ecosystem since its launch. The project destroyed over 3 billion SHIB in a single transaction executed on May 16, 2023. In the last 7 days, there have been a total of 3,054,599,199 $SHIB tokens burned and 8 transactions. #shib — Shibburn (@shibburn) May 21, 2023 Also, a mysterious wallet burnt 18.23 million SHIB tokens on 16th May, making it a record-breaking date in the ecosystem. The Shiba Inu community has burnt over 410.6 billion SHIB, with over 574.30 trillion still in circulation. A Twitter user, SHIB INFORMER, notably posted a snapshot of a proposed token burn mechanism on Shibarium. According to SHIB INFORMER, the Shibarium burns will focus on transactions and regulating the excess supply of tokens in the community through a burning mechanism to boost the value of SHIB tokens. The Shibarium upgrade is a layer-2 (L2) solution built on the Ethereum network for Shiba Inu. It seeks to transform Shiba Inu from a meme coin to a functional ecosystem. Although there is no definite date for its launch, the SHIB community expects it in 2023. SHIB Price Action SHIB is experiencing volatility today as it seeks to recover from the recent price drop in May, leading to a death cross on May 10, 2023. However, the bears are active in the market, keeping its price down. As such, SHIB is still trading below its 50-day and 200-day Simple Moving Averages (SMA). Related Reading: Will Bitcoin Prices Limit And Slow Down The Number Of BTC ‘Wholecoiners?’ Even though the SMAs indicate a bearish sentiment in the short and long term, SHIB shows interesting signals hinting at a bullish recovery. Its Relative Strength Index (RSI) is 39.95 in the neutral zone but moving upwards, indicating a price recovery ahead for the asset. Also, SHIB’s Moving Average Convergence/Divergence (MACD) is above its signal line, a bullish signal. Notably, its histogram bars are bullish, confirming a bullish sentiment today. SHIB is close to the $0.00000882 resistance level after it found critical support at $0.00000851. The bears could not return SHIB’s price to $0.00000824, implying that an uptrend to reclaim its closest resistance level is possible. SHIB will likely rally in the short term to reclaim the $0.00000884 price level, although there are no guarantees in the crypto market climate. Featured image from Pixabay and chart from TradingView
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Sabin Dima, the CEO and founder of Humans.Ai, said that with the right implementation, governments could use AI to enhance public services and policies.
Straight from the mouth of the horse, the EU is adopting principles which makes crypto-assets traceable. A number of days ago, the EU adopted new rules that extended the scope of rules relating to crypto transfers. "Under the new rules, crypto asset service providers are obliged to collect and make accessible certain information about the…
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Redditors wondered where the 10,000 BTC went, with some speculating it was sold when the price surged, while others suggested the keys may have been lost.
Data shows that Bitcoin volatility is currently at historically low levels, something that has led to violent price moves in the past. Bitcoin 7-Day Range Has Compressed To Just 3.4% Recently According to data from the on-chain analytics firm Glassnsode, the current 7-day price range is comparable to levels seen back in January of this year. The “7-day price range” of Bitcoin here refers to the percentage difference between the highest and the lowest points that the asset’s value has observed during the last seven days. This metric can provide hints about the recent volatility that the cryptocurrency has experienced. When the indicator has a low value, it means the price action during the last week has been quite stale. Naturally, this suggests that the volatility of the asset is low right now. On the other hand, high values of the 7-day price range imply the coin has seen a high degree of fluctuation within the past seven days, and hence, the volatility has been high. Now, here is a chart that shows the trend in the Bitcoin 7-day price range (as well as the 7-day high and low) over the last few years: The value of the metric seems to have been quite low in recent days | Source: Glassnode on Twitter As shown in the above graph, the Bitcoin 7-day price range had naturally succumbed to quite low values during the bear market lows that had followed the FTX crash, as the BTC price had been stuck in a sideways movement. These low values of the indicator continued into the new year as the coin refused to show any significant movement. Soon after, however, the metric’s value had seen an explosion as the rally had begun to take place. In the next few months, the 7-day price range of the cryptocurrency had assumed relatively high values, but recently, the indicator has observed another plummet. The reason behind this new plunge has naturally been the narrow consolidation range that the asset has followed in the past week between the $27,400 and $26,500 levels. Related Reading: Bitcoin Plunges Below $27,000 As Miners Show Signs Of Selling Because of this low volatility, the 7-day price range of Bitcoin has collapsed to only 3.4%. In the chart, Glassnode has also highlighted the previous instances where the cryptocurrency had seen this metric drop so low. It looks like the indicator dipped to similar levels way back in July 2020, and the aforementioned lows from the start of the year had also observed the indicator attain such values. An interesting thing to note about both these periods of low volatility is that the price had gone on to see rapid price action not too long after they occurred, and the former low was followed by the 2021 bull run, while the ongoing rally succeeded the latter one. Related Reading: Will Bitcoin Prices Limit And Slow Down The Number Of BTC ‘Wholecoiners?’ If the current compressed 7-day Bitcoin price range will follow a similar pattern, then some wild price action may be coming for the cryptocurrency in the near future. BTC Price At the time of writing, Bitcoin is trading around $26,800, down 2% in the last week. Looks like BTC has been moving sideways in the last few days | Source: BTCUSD on TradingView Featured image from Maxim Hopman on Unsplash.com, charts from TradingView.com, Glassnode.com
The first known crypto transaction was 10,000 Bitcoin for two pizzas; 13 years on, its ingredients alone equate to millions of dollars worth of Bitcoin.
