The Shiba Inu (SHIB) cryptocurrency team, led by Shytoshi Kusama, has signaled a potential boost in their development activities with planned industry collaborations. The team’s ongoing project, the Shibarium blockchain, aims to enhance the platform’s infrastructure, hinting at promising partnerships and updates that could influence its market performance. Despite the current bearish market conditions, with The post Shiba Inu (SHIB) Exec Touts Important Industry Collaboration, Will This Reboot Price appeared first on CoinGape .
The post Prepare for July 2: Ethereum ETF Approval, Shiba Inu’s Breakout, and Furrever Token’s Referral Rewards appeared first on Coinpedia Fintech News As we near July 2, the cryptocurrency market is abuzz with anticipation. The possible approval of Ethereum ETFs promises a substantial boost, elevating market enthusiasm to unprecedented levels. Concurrently, Shiba Inu is poised for a potential surge, backed by promising metrics hinting at a breakout in its value. Alongside, Furrever Token is gaining traction with …
Linda Yaccarino described Twitter's payments push as a transformative initiative coming to Elon Musk's social media platform "soon."
Tether has unveiled a new token backed by gold stored in Switzerland as part of its innovative synthetic crypto series. In tandem with this launch, Tether has introduced the ‘Alloy by Tether’ platform, marking its entry into real-world asset tokenization. According to CEO Paolo Ardoino, the new token, dubbed aUSDT, is the inaugural product from
Memecoins in TON ecosystem show significant gains despite market stagnation. Bitcoin and Ethereum reflect slight overall market decline. Continue Reading: Memecoins in The Open Network Ecosystem See Significant Gains
The post Ripple Price Prediction: Buying XRP Before $1, Is It Worth The Risk? appeared first on Coinpedia Fintech News TLDR Ripple could have a bullish reversal and surpass the $1 mark. Rebel Satoshi Arcade sees massive progress in its presale phase with over 532 million tokens. Rebel Satoshi Arcade promises a huge return with its gaming platform and upcoming NFT collection. The cryptocurrency market has been very volatile lately, and Ripple’s (XRP) price action …
XRP began the week facing a fresh wave of uncertainty, intensified by significant whale movements. According to Whale Alert, a total of 32,141,202 XRP has been transferred out of the Binance exchange, sparking considerable interest. This development underscores a noteworthy shift in market dynamics, as the movement of such substantial amounts often signals significant trading
A significant transaction by a crypto whale has brought attention to a forgotten cryptocurrency project. According to data from blockchain analytics platform Lookonchain, a newly created wallet withdrew 9 million PEOPLE tokens (valued at approximately $1 million) from the OKX exchange just 30 minutes ago. Following this large transaction, TradingView data shows that the price
Data suggests the average cost of mining Bitcoin is standing around $86,700 right now. Here’s what history suggests could happen next for BTC. Bitcoin Average Mining Cost Is Currently Notably Higher Than The Price In a new post on X, analyst Ali Martinez has talked about how the average mining cost of BTC is looking like right now. The Bitcoin network runs on a consensus mechanism based on the “proof-of-work” in which validators called the miners compete against each other using computing power to get to hash the next block on the chain. This computing power naturally has its running cost, with electricity being the most notable expense that the miners have to pay, given that it’s a perpetual cost. The incentive for spending capital on mining operations lies in the block rewards that these validators receive upon successfully adding the next block. Obviously, mining expenses are different depending on location, as electricity prices aren’t the same everywhere. As such, the chart that Ali has cited from MacroMicro uses data provided by the Cambridge University on BTC electricity consumption to find out an average value. Related Reading: Bitcoin FOMO: Social Media Users Calling To Buy Sub-$66,000 Dip Below is the chart in question, which shows how the average mining cost on the Bitcoin network has changed over the past few years. As is visible in the above graph, the Bitcoin average mining cost (colored in blue) had been below the price of the cryptocurrency earlier in the year, but recently, the former’s value has spiked and has surpassed the latter’s. The reason behind this sudden increase is that there is another variable at play when calculating the average cost of mining Bitcoin: the Issuance, or the number of tokens that the miners are minting daily. In general, the block rewards stay fixed both in value and frequency, so the Issuance of the network, which is nothing else than the sum of the block rewards mined in a day, more or less remains fixed as well. Specific events, however, don’t abide by this. They are the Halvings. These periodic events that take place approximately every four years permanently slash the block rewards in half. The latest such event, the fourth ever in the cryptocurrency’s history, occurred back in April. Naturally, the Halvings mean that the cost of mining 1 BTC drastically goes up, as miners only get half as many rewards as before after doing the same amount of work. Thus, it’s not surprising that the cost of production for the coin observed a sharp increase coinciding with the latest Halving. At present, this metric stands at $86,700, meaning that according to MacroMicro’s model, the average miner would be underwater. Related Reading: Dogecoin Plunges 11%, But This On-Chain Cushion Could End Decline Based on the past trend of the indicator, Ali has identified a pattern that Bitcoin has always followed. “Historically, BTC always surges above its average mining cost!” notes the analyst. As such, if this pattern continues to hold for the current cycle as well, then it may only be a matter of time before Bitcoin surges past the $86,700 mark. BTC Price Bitcoin has gone through a drawdown of more than 5% recently, which has brought its price under the $66,000 level. Featured image from Dall-E, MacroMicro.me, chart from TradingView.com
Ethereum whales have been making significant movements in the crypto market. Over the last three weeks, large cryptocurrency investors have accumulated more than 700,000 ETH tokens. This massive purchase, amounting to approximately $2.45 billion, has drawn substantial attention. Ethereum accumulation by whales reaches unprecedented levels as the crypto market reacts to potential ETF approvals. Record