Category: Cryptocurrency News

Maybe you have seen all the activity and hype on SOL, the quick gains from memes amounting to lots of eyes and attention on other networks. Are we missing out on Eth by not pushing for this kind of ecosystem with lower gas fees? We don´t have big names pushing our chain and maybe this…
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This week, the Japanese yen plummeted to its lowest point since 1990 against the U.S. dollar, weighed down by Japan’s monetary policy and uncertain economic indicators from the United States. Japanese Yen’s Rapid Decline Triggers Talk of Market Intervention The yen’s sharp drop to 158.283 per dollar signals a substantial downturn for the currency. This […]

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Optimism (OP) has grabbed investors’ attention in the last day following an intriguing positive price performance. Interestingly, OP’s market gain has occurred following a recent disclosure of certain security flaws associated with the popular layer-2 platform. Related Reading: XRP Price Prediction: Analyst Says Prepare For 700% Jump To $4, Here’s When OP Bounces Back Amidst Optimism Security Concerns On April 26, Offchain Labs, the initial developers of the prominent Ethereum L2 solution Arbitrum, highlighted certain security flaws found in the Optimism Stack fault-proof system. Via a blog post, the team at Offchain disclosed that they discovered two major systemic vulnerabilities in the newly released security program currently running on the Optimism testnet. In communication with OP Labs, they stated that these security flaws could enable a bad actor to bypass the existing security measures of the Optimism network by enforcing the acceptance of a malicious claim or the rejection of a right claim. By exploiting these flaws, OffChain Labs stated these hackers could initiate a network dispute that is irresolvable. The nature of these vulnerabilities is said to originate from the timers in the OP stack fault-proof system. If this program were introduced on the Optimism mainnet with such defects, users’ funds would be exposed to a “very high” level of risk.  However, these vulnerabilities were revealed to OP Labs about a month ago, which has now updated the Optimism testnet to address these security flaws. Interestingly, following these revelations, OP’s price took a nosedive, falling by almost 5% to trade at $2.274 on April 27. However, in the last day, Investors expressed solid confidence in Optimism’s security and future sustainability. According to data from CoinMarketCap, OP has gained by 17.16% in the past 24 hours attaining a market price of $2.69. In tandem, the token’s daily trading volume is up by 110.64% and is valued at $402.77 million. Related Reading: Bitcoin Drops Below 4-Hour MA – Bearish Trend Ahead? Hold Your Altcoins, Analyst Says Why In the week following the Bitcoin Halving event, popular crypto analyst Michaël van De Poppe has advised users to invest heavily in altcoins. Via an X post on April 27, van De Poppe stated that the catalyzing effect of the Halving and the introduction of spot ETFs on Bitcoin are likely over, with momentum now shifting to the altcoin market. In comparison to BTC, the crypto analyst notes that most altcoins are undervalued and set for massive gains in the current bull cycle. Furthermore, van de Poppe predicted that the upcoming crypto bull run could last longer than the previous cycle, based on the current extended bear market. Particularly, van de Poppe identified Optimism (OP) as a promising altcoin with the potential to achieve three times the market growth compared to Bitcoin in this bullish cycle. Additionally, the analyst highlighted other tokens, including Chainlink (LINK), Woo (WOO), Celestia (TIA), and Skale (SKL), as potentially profitable investments. OP trading at $2.693 on the daily chart | Source: OPUSDT chart on Tradingview.com Featured image from Moneycontrol, chart from Tradingview

On Friday, Bitcoin’s hashprice was $56.95 per petahash per second (PH/s), but by Sunday, it had dropped to $51.66 per petahash. Over the last 100 blocks, bitcoin miners averaged about 3.55 BTC for each block they mined, indicating that bitcoin miners are receiving less than half a BTC per block in onchain fees. Bitcoin Miners […]

JPMorgan Chase CEO Jamie Dimon has reiterated his critical stance on bitcoin, labeling it a fraud and dismissing its potential as a legitimate currency. Former FTX CEO Sam Bankman-Fried has agreed to a settlement that involves cooperating with legal actions against celebrities linked to FTX’s collapse. U.S. analysts are evaluating the impact of the proposed […]

The Bitcoin network has witnessed a surge in trading activity in the days after the halving, as shown by on-chain data. Although the just concluded halving brought a lot of attention to Bitcoin, the recent surge in trading activity can be attributed to something else. According to data from on-chain analytics platform IntoTheBlock, the number of daily BTC transactions has grown rapidly in the past few days to reach a new high of 927,000 thanks to a new token standard called Runes. Related Reading: Analysts Call It: XRP Primed For A 700% Surge – Details Bitcoin Daily Transactions Reach New All-Time High Bitcoin’s price has been skyrocketing since the beginning of the year with interest in the top cryptocurrency exploding. All that new interest means more people buying, selling, and trading BTC, which has led to a huge increase in the number of daily transactions. Despite the increase in activity, the number of daily transactions failed to break above the 724,000 record for the past four months, until recently this week.  The main catalyst for this activity surge is the recent launch of the Runes token standard on the Bitcoin blockchain. The Runes Protocol is a new token standard on BTC that gives users a more efficient way of creating fungible tokens. The additional functionality provided by Runes opens up new possibilities for Bitcoin, allowing users to create non-fungible tokens more efficiently than the existing BRC-20 token system. Bitcoin is now trading at $63.711. Chart: TradingView The Runes token standard surged immediately among developers and users after launch, constituting over 68% of Bitcoin transactions recorded. According to Dune’s analytics dashboard, the number of Runes transactions surged to 753,000 on Tuesday, April 23. As a result, the total number of transactions on the day crossed over 927,000 to break the 724,000 record set in December 2023. Bitcoin hit a new all-time high in daily transactions! Following the launch of Runes, The number of Bitcoin transactions has increased rapidly, hitting 927,000 on Tuesday. This breaks the previous high of 724k set in December of 2023 pic.twitter.com/30JXbrLmdR — IntoTheBlock (@intotheblock) April 26, 2024 On the other hand, the hype surrounding the Runes token standard seems to have faded so quickly. The number of transactions on Runes has now fallen to 104,800 in the past 24 hours, constituting 26% of the total number of transactions.   Bitcoin Price Prediction At the time of writing, Bitcoin is trading at $63,711 with a price resistance now around $64,500. Bitcoin’s price trajectory can be very tough to predict. Many Bitcoin analysts and traders are still looking forward to a bullish effect of the just concluded halving on the price of the cryptocurrency. A Bitcoin bull flag has just been formed which suggests the possibility of an uptrend very soon. Related Reading: The Machines Know: Bitcoin Primed For Epic Price Surge To $77,000 However, crypto expert Peter Brandt believes Bitcoin might have already reached its top in the current market cycle. His theory is based on the exponential decay thesis which shows that the percentage gain of Bitcoin price has reduced in succeeding market cycles. Featured image from Pexels, chart from TradingView