Aurelia Butler

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    in Cryptocurrency

    Bitcoin, Solana, MATIC See Abnormal Surge in Hourly Exchange Activity

    Shortly after, another enigmatic wallet orchestrated a mammoth transfer of 4,469 BTC, totaling $191.88 million, directed toward Coinbase (NASDAQ:COIN).Simultaneously, an unknown sender propelled 99,235 SOL, equivalent to $11.17 million, followed by a transfer of 7.72 million , valued at $8.3 million, both transpiring on the Binance exchange. Crypto enthusiasts speculate that such sizable altcoin transfers are indicative of major holders positioning to liquidate assets, opting for the market’s most fluid platforms.Amid these crypto maneuvers, , led by the influential Michael Saylor, made waves with its announcement of acquiring 14,620 BTC in December, amounting to a staggering $615.7 million. Saylor’s acquisitions historically signal potential market peaks, often sparking sell-offs and consequent declines in cryptocurrency prices.BTC to USD by This development collides with prevailing market sentiment, especially considering the prevailing superstitions surrounding Saylor’s purchases. Despite concerns, Bitcoin persists in trading on the positive side relative to today’s opening price. As the day unfolds, all eyes are on the market to discern the impact of these colossal transfers and MicroStrategy’s acquisitions. Will superstition prevail, or will market dynamics defy expectations? The crypto community eagerly awaits the answer, anticipating potential shifts in the price behavior of , Solana and MATIC.This article was originally published on U.Today More

  • 188 Shares99 Views

    in Cryptocurrency

    MicroAlgo Developed QSDLT to Provide a More Secure Foundation for Bitcoin and Other Cryptocurrency Systems

    In traditional blockchain systems, security relies heavily on cryptographic algorithms based on public key cyphers. However, the emergence of quantum computers threatens this system. Quantum computers can solve problems in a relatively short period of time that current conventional computers cannot handle, including some widely used cryptographic algorithms.Specifically, the emergence of quantum computers could crack current systems based on RSA and elliptic curve encryption algorithms. This means that private keys and transaction data could be easily accessed by quantum computers, jeopardizing the security of the entire blockchain system. To counter this threat, the research and development of QSDLT have become particularly urgent.To protect the Bitcoin system from the threat of quantum computers, MicroAlgo Inc.’s QSDLT was created as an innovative solution. The goal of QSDLT is to build a strong shield for the Bitcoin system by integrating quantum security, which is not just a simple upgrade to the traditional blockchain system, but a revolutionary change to the entire cryptocurrency ecosystem.MicroAlgo Inc.’s QSDLT employs a series of advanced cryptographic algorithms, particularly those that combat quantum algorithms, to ensure that Bitcoin transactions and user identities are fully protected. Its core is to provide a security framework that is resistant to quantum computing threats, incorporating quantum security into DLT to provide stronger protection for Bitcoin and other cryptocurrencies. Its design principles include countering attacks from quantum algorithms, achieving invariance, reducing transaction costs, enabling decentralization and increasing transparency. The introduction of this technology marks the next stage in the evolution of the Bitcoin system.Anti-quantum algorithm defence mechanism: One of the core aspects of MicroAlgo Inc.’s QSDLT is its robust anti-quantum algorithm defence mechanism. Cryptographic algorithms used in traditional blockchain systems, such as RSA and elliptic curve encryption algorithms, may be threatened by quantum computer attacks in the future. To address this challenge, QSDLT employs well-thought-out cryptographic algorithms that are more resilient to quantum computer attacks. This ensures that QSDLT will be able to keep Bitcoin transactions secure and tamper-proof in the face of the rise of quantum computers.Invariance and transparency: QSDLT focuses on maintaining the invariance of the blockchain, meaning that once a transaction is confirmed and added to the blockchain, it cannot be tampered with. This is one of the fundamental characteristics of the blockchain and is critical to ensuring the trustworthiness of the Bitcoin system. Meanwhile, MicroAlgo Inc.’s QSDLT promotes transparency through the decentralized nature of the blockchain. Every participant is able to view and verify the history of transactions, thus enhancing overall traceability and openness.Post-quantum distributed ledger technology (PQDLT): MicroAlgo Inc.’s QSDLT technology focuses not only on anti-quantum algorithm defense, but also places itself in a broader technological context to form PQDLT. this denotes the convergence of QSDLT with innovations in the fields of machine learning, deep learning, 6G, and the quantum internet, laying the groundwork for the future of the digital economy. The concept of PQDLT aims to achieve comprehensive security for the Bitcoin system and to facilitate the development of a digital financial system.Reduced costs: QSDLT effectively reduces the cost of Bitcoin transactions by employing carefully optimized algorithms and technologies. This feature not only makes the Bitcoin network more accessible, but also provides a lower barrier to participation in Bitcoin transactions for a broader group of users. Lowering the cost will help facilitate mass adoption of Bitcoin and drive broader adoption in the digital currency space.Highly scalable: MicroAlgo Inc.’s QSDLT is highly scalable with future growth needs in mind in its basic concept. This allows QSDLT to adapt to the increasing size of the Bitcoin network’s user base and to be flexible enough to meet the growing demands of digital finance. High scalability is one of the key factors that make QSDLT a trusted infrastructure.MicroAlgo Inc.’s QSDLT is more than a simple upgrade to the traditional blockchain. It is an update to combat the threat of quantum computing. Its key features, including anti-quantum algorithmic defence mechanisms, invariance and transparency, cost reduction, PQDLT, and high scalability, combine to create a robust and flexible security framework.MicroAlgo Inc.’s QSDLT provides the Bitcoin system with a robust defence against quantum algorithms with its strong anti-quantum algorithmic capabilities, making transactions secure and tamper-proof. At the same time, QSDLT maintains the basic principles of the blockchain, enhancing overall trustworthiness through invariance and transparency. Reduced transaction costs make the Bitcoin network more attractive, further driving mass adoption of the digital currency. As the threat of quantum computing emerges, the emergence of MicroAlgo Inc.’s QSDLT marks the dawn of a new era of Bitcoin security. The basic concepts and key features of QSDLT present a blueprint for the future of digital finance, an innovation that will open up more possibilities for the digital economy, ensure that Bitcoin and other cryptocurrency systems remain secure and trustworthy in the quantum era, and lead the way for a vibrant future of digital finance. the future of digital finance. More

  • 150 Shares159 Views

    in Cryptocurrency

    Bitcoin (BTC) Inches Closer to Historic Golden Cross, Analysts Reveal Next Moves

    Barchart, a reputable source for financial market data and analysis, recently took to X (formerly Twitter) to announce the imminent occurrence of a weekly golden cross for Bitcoin. The golden cross is a that occurs when an asset’s short-term moving average crosses above its long-term moving average, indicating a potential bullish trend.The ascending triangle is another technical analysis pattern that suggests a potential upward breakout. Adding to the chorus of optimism, Crypto Rover, a renowned crypto analyst, optimism by stating that Bitcoin was bouncing back and cautioned against falling for the bear trap. This tweet reflects a common sentiment among traders who anticipate a reversal of the recent trend.As of the latest update, the current price of Bitcoin stands at $43,089, representing a 1.21% increase in the last 24 hours and a substantial 16.10% gain over the last 30 days. The positive momentum observed in the short term and the approaching golden cross have fueled speculation about the potential for in the coming weeks.Investors and market participants are closely watching Bitcoin’s movements, particularly in the context of the broader cryptocurrency market. The significance of Bitcoin’s golden cross, if realized, could have a cascading effect on overall market sentiment, influencing trading strategies and investment decisions.This article was originally published on U.Today More

  • 138 Shares199 Views

    in Economy

    Tesla deliveries to hit record, but fall short of Musk’s aspirations

    SAN FRANCISCO (Reuters) -Tesla is expected to post another record quarter for electric vehicle (EV) deliveries, likely shy of an ambitious 2 million annual internal target that CEO Elon Musk touted at the beginning of the year.Faced with slowing sales, Tesla (NASDAQ:TSLA) leveraged its industry-leading margins and slashed prices of its four car models globally in 2023, with a focus on China, where the company has lost market share to locals including BYD (SZ:002594).The price war and slowing EV demand, however, have prompted automakers including Ford Motor (NYSE:F) to pull back on their electrification plans, leaving Tesla as the undisputed leader in the United States and helping its stock more than double this year.”The fourth quarter is typically the strongest of the year in terms of deliveries for Tesla, we’re expecting that to be the case again this year,” said Garrett Nelson, senior analyst at CFRA Research.Tesla likely delivered 1.82 million vehicles globally in 2023, up 37% from 2022, with about 473,000 units in the fourth quarter, according to 14 analysts polled by LSEG. The EV maker is expected to report quarterly deliveries and production as early as Tuesday.In January, Musk said that Tesla has the potential to achieve 2 million deliveries this year, if there was no “freaking force majeure”. But as recently as October, he warned that higher borrowing costs were pressuring demand.The company, which made a year-end sales push by increasing discounts on its key models, has said it aims to achieve a 50% average annual growth rate over multiple years. Going into 2024, the EV market leader will have to contend with the loss of federal tax credits for some of its cars in the United States as well as in Germany, where the government is prematurely ending its EV subsidy program.This may force more price cuts next year even though interest rates and battery ingredient costs are expected to ease.Jairam Nathan, an analyst at Daiwa Capital Markets, trimmed his estimate for Tesla’s deliveries next year to 2.04 million from 2.14 million and said he was modeling for a 4% decline in average revenue per car from 2023.2024 CHALLENGESThe company is also dealing with a rise in regulatory scrutiny of its self-driving systems and other parts in the United States and in some European countries. Earlier this month, Tesla recalled nearly all of its 2 million vehicles on U.S. roads to install new safeguards.Musk has previously said he believes full self-driving (FSD) could one day account for most of Tesla’s value.Analysts polled by Visible Alpha expect 2.2 million deliveries by Tesla next year. Most believe that the newly released Cybertruck and a refreshed Model 3 are not enough to boost demand.”Tesla candidly admitted the company is now in an intermediate low-growth period,” Deutsche Bank analyst Emmanuel Rosner wrote in a note, citing a meeting with Investor Relations Chief Martin Viecha. Investors expect Tesla’s margins to remain pressured as the company ramps Cybertruck production and prepares to launch a cheaper car platform.Musk has said Cybertrucks will be a small percentage of the vehicles Tesla makes next year and that there are “enormous challenges” in reaching volume production for the pickup, whose controversial design has divided fans.Tom Narayan, an analyst at RBC Capital Markets, said in a report that Cybertruck would represent 3% of Tesla’s volumes in 2024, calling it more of a “halo” product that could attract consumers to the brand. More

  • 138 Shares189 Views

    in Economy

    Dollar touches five-month low on rate cut hopes in thin market

    LONDON (Reuters) -The dollar slipped to a five-month low on Wednesday and the euro touched a more than four-month peak on expectations that the Federal Reserve could soon cut interest rates, but thin year-end trading flows limited moves. With many traders out for holidays, volumes are likely to be muted until the New Year.The dollar index, which measures the U.S. currency against six others, fell to 101.36, its lowest level since July 28. The index is on course for a 2% drop in 2023 after two years of strong gains driven by the anticipation of Fed rate rises and then the Fed’s actual rate increases to battle inflation.”Overall, from a global perspective, I expect markets to remain quiet,” said Jens Magnusson, chief economist at SEB. “We still have strong equity markets and that is likely to hold through to New Year. If nothing happens geopolitically then currency markets will stay fairly calm over the next few days.”The dollar’s recent weakness – the index is set to clock a second straight month of losses – has been spurred by markets anticipating Fed rate cuts next year, denting the currency’s appeal. Markets are now pricing in an 85% chance of a rate cut starting in March 2024, according to the CME FedWatch tool, with more than 150 basis points of cuts priced in for next year. U.S. data showing cooling inflation has emboldened bets on rates easing next year. “Disinflation is proving entrenched (and) expectations are for central banks to pivot next year while growth is still trudging along,” said Christopher Wong, a currency strategist at OCBC in Singapore. “This paints a goldilocks market that is favourable for risk proxies,” such as equities and higher risk currencies. Meanwhile, the euro was up almost 0.2% at $1.1061, a more than four-month high. The single currency is up more than 3% in the year and on course for a third straight month of gains, matching the run it had last year.”Overall, as long as the soft landing narrative is alive and well and there’s healthy risk appetite, then I think people will be looking more towards the euro rather than the dollar,” said SEB’s Magnusson.The Japanese yen weakened 0.1% to 142.55 per dollar and is headed for an 8% drop in the year although the Asian currency has witnessed a bout of strength in recent weeks reflecting expectations the Bank of Japan will soon exit its ultra-loose policy. BOJ Governor Kazuo Ueda said on Wednesday he was in no rush to unwind the central bank’s ultra loose monetary policy as the risk of inflation running well above 2% and accelerating was small. Meanwhile, a summary of opinions at the central bank’s Dec. 18-19 meeting showed that BOJ policymakers saw the need to maintain policy for now, with some calling for a deeper debate on a future exit from massive stimulus.The summary of opinions was somewhat dovish and showed no sense of urgency to end the ultra-loose policies, according to Saxo strategists. The likely timing of the end of the policies will be later than what the market is anticipating, they strategists said in a note. The Australian dollar and the New Zealand dollar both touched more than five-month peaks earlier in the session. The Aussie last bought $0.6838, while the kiwi was at $0.6328.In emerging markets, Turkey’s lira weakened to a record low of 29.4 per dollar, bringing its losses this year to 36%. More

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    in Economy

    China aims to expand domestic demand, ensure speedy recovery

    The country will “prioritise the restoration and expansion of consumption, stabilise bulk consumption and promote consumption of services,” Zheng Shanjie, head of the state economic planning body, was quoted as saying at a meeting held on Tuesday.China will also accelerate reforms aimed at expanding the country’s middle-income bracket, Zheng said. The government has in recent months unveiled a series of measures to shore up a feeble post-pandemic economic recovery, held back by a property slump, local government debt risks and slow global growth.China will deepen its market-oriented reforms and institutional opening up to boost development, according to Zheng.The country will also prevent and resolve risks in key areas……” co-ordinate the resolution of risks in real estate, local government debt, and small and medium-sized financial institutions.”Zheng also said China needs to step up its development of high technology to overcome a blockade on technology exports imposed by some countries. “(China) must accelerate breakthroughs in key core technologies, achieve a high level of scientific and technological self-reliance, and avoid technologies and industries being ‘locked’ in the low-end and middle-end.” More