Cryptocurrency

“We’re pleased to announce that Coinbase․com users can now send Bitcoin to Taproot addresses, creating access to more onchain destinations,” Coinbase wrote in a recent tweet.Taproot, an upgrade implemented in November 2021, aimed to improve the privacy, efficiency and smart contract capabilities of the Bitcoin network.A Taproot address, also known as a Bech32m address, is a unique Bitcoin address format that begins with “bc1p” and originates from Bitcoin’s Taproot update, which includes Schnorr signatures. While these addresses improve transaction secrecy and efficiency, not all wallets support Bech32m.Support for Taproot addresses is also yet to be adopted by many exchanges, leaving users unable to fully utilize the benefits of the upgrade. Coinbase’s decision to allow Bitcoin transfers to Taproot addresses aligns it with the evolving Bitcoin ecosystem.The Taproot upgrade contained three Bitcoin Improvement Proposals (BIPs): BIP340 (Schnorr Signatures), BIP341 (Taproot) and BIP342 (Tapscript).Taproot provides Bitcoin with an upgraded transaction programming language that incorporates Schnorr and Taproot technology. This enables developers to deploy future Bitcoin updates more efficiently.While the Taproot update was implemented about three years ago, its full impact may take some time to be realized. The impact of this upgrade is expected to be fully actualized in the coming years, when more service providers adopt the technology. This article was originally published on U.Today More

He notes that great gains typically follow halving cycles, and that the period since March 2024, when the latest all-time high was set, appears to be a brief pause in the ongoing upward trend for BTC. This said, his price target is $135,000 for August or September 2025.As you can see, the expert does not only rule out the possibility that Bitcoin will reach six figures at once but also that it will increase by 35% over it in the next 365 days. However, Brandt also gives an invalidation point at $48,000 which, if reached, will place these possibilities at zero.Now, the price of Bitcoin is in a kind of limbo as traders are stuck in a narrow range with no concrete direction. Some may refer to this phase of the market as a “chop.”Looking ahead, the upcoming release of important macroeconomic data regarding the U.S. economy may be the catalyst needed to revive Bitcoin’s price movement. In particular, traders are anticipating the release of the monthly Consumer Price Index (CPI) data and the Federal Open Market Committee (FOMC) notes over the next two days.This article was originally published on U.Today More

The last time this wallet was used was a few months after mysterious Bitcoin creator Satoshi Nakamoto posted his farewell message to the Bitcoin community and disappeared. The profit shown by the awakened Bitcoin holder is tremendous.Today, in October 2024, this Bitcoin stash is worth $7,525,999, which constitutes a mind-boggling growth of 5,972,920%.This report about the dormant whale came on the day when HBO released its long-expected documentary titled “Money Electric: Bitcoin Mystery.” In it, director Cullen Hoback identified early Bitcoin developer Peter Todd as Satoshi Nakamoto.Many in the Bitcoin community found that and other evidence presented in the documentary highly insufficient. Dogecoin cofounder Billy Markus said that Satoshi was definitely not Peter Todd, but rather, he believes it could have been Hal Finney with a team of developers. Finney passed away 10 years ago from ALS.In a comment to Whale Alert’s post about the aforementioned whale, an X user jestingly wrote: “Is that you, Peter Todd?”Todd himself has criticized Hoback for endangering Todd’s life with such an “irresponsible” documentary. He also tweeted to say: “The truth is pretty simple: there’s hundreds, even thousands of people who could have created Bitcoin.”Finally, he stated: “We’re not going to find Satoshi.”Many in the crypto community agree with Billy Markus, believing that Satoshi was Hal Finney or, according to recent data from the Polymarket platform, it could have been Len Sassaman, a cryptographer who committed suicide in early 2011, just a couple of months after Satoshi disappeared.This article was originally published on U.Today More

The total amount of coins withdrawn was 2,924 BTC, which is about $182.56 million, and that is for just three transactions today. This was followed by the transfer of $60 million in the popular USDT stablecoin from Kraken to Bitfinex, another major crypto exchange that is considered a haven for market old-timers.The similar ping-ponging of stablecoins and Bitcoin has been seen before between these two large centralized marketplaces. This time, however, it is not known where the Bitcoin from Kraken went. All three addresses to which the transfer was made are different. The only clue is that one of the transfers appears to have been made by the exchange itself to its own wallet. This may indicate that the other two withdrawals were also made as part of some internal Kraken operation.On the other hand, there may be more to this activity, in which case it is of greater interest and deserves more attention. Regardless of the outcome, the consequences of these moves will surface first on the BTC price chart.This article was originally published on U.Today More

Memereum has recently claimed the top position on CoinSniper, thanks to over 3,100 votes from its growing community. This achievement signaled strong market confidence in the project to the team and highlighted the enthusiasm surrounding Memereum’s innovative features. As the presale continues, Memereum has sold over 32 million tokens, making it one of the most successful crypto presales in recent times.Community-Driven Success on CoinSniperCoinSniper is a platform where upcoming crypto projects are ranked based on community votes. By securing the top spot with over 3,100 votes, Memereum has demonstrated an active and dedicated community. This grassroots support is crucial for driving a project forward and has played a significant role in the continued growth of Memereum’s presale.The strong showing on CoinSniper may suggest broader interest in Memereum’s features, including its combination of blockchain insurance and staking opportunities. The ongoing presale has also seen growing interest, which has contributed to Memereum’s visibility as a project to watch in the lead-up to 2024.Presale Milestone: 32 Million Tokens SoldMemereum’s presale has crossed the 32 million tokens sold milestone, and according to the team, it’s reflecting an increased demand from investors looking for projects with long-term utility and growth potential. Memereum’s appeal lies in its features, such as automatic staking benefits for early investors and blockchain insurance that provides an extra layer of security on MemeSwap, its decentralized exchange.Additionally, Memereum is already pre-listed on four major CEX platforms, positioning itself as an option for those seeking to participate in a project that combines safety, transparency, and real-world use cases.Plans for 2024As Memereum’s presale progresses and community engagement remains strong, the project is preparing for continued growth in 2024. The team is continuously developing new features and expanding its marketing efforts, with plans to roll out even more innovative tools on MemeSwap.About Memereum (MEME)The strong interest in Memereum (MEME) can be attributed to its innovative approach in the blockchain sector and its growing community support. Memereum is the first blockchain insurance with an integrated DEX for supported token trading. Users can learn more about Memereum by clicking here.For more details on how to join the presale, users can visit memereum.netContactBessie [email protected] article was originally published on Chainwire More

A new HBO documentary about Bitcoin’s origins argues that Satoshi Nakamoto, the pseudonymous creator of BTC, is most likely Canadian software developer Peter Todd.Called “Money Electric: The Bitcoin Mystery,” the 100-minute video released on Tuesday comprises interviews with several people who have been engaged with Bitcoin since the beginning, including long-time Satoshi contender Adam Back, investor Roger Ver, Samson Mow and Peter Todd.Reacting to the HBO documentary, an X user asked Schwartz directly: “Didn’t you know and work with all of these guys, David? No mention of you in this documentary.” The user referred to the people closely involved in Bitcoin’s creation. Schwartz responded, “Not really, I didn’t get involved until mid-2011.”When rumors of him being Satoshi began to surface in 2020, Schwartz stated that it was plausible to believe he was one of the individuals involved in the invention of Bitcoin, but he was not.The Ripple CTO claims he may have been a member of “Satoshi” — a group that created Bitcoin — and also that he first learned about the world’s first cryptocurrency later, in 2011.Since the inception of Bitcoin in January 2009, there has been significant discussion over who Satoshi Nakamoto is, whether a person or a group. Over the years, several publications have speculated that Satoshi Nakamoto could be anyone and everyone.Even if Satoshi Nakamoto has not been heard of since 2011, he or they are still important. Satoshi Nakamoto’s wallets contain approximately one million Bitcoin, which is worth over $62.4 billion at current pricing.Cullen Hoback, the HBO documentary’s author, guessed that Peter Todd is Satoshi Nakamoto based on circumstantial evidence, such as postings from an early Bitcoin forum; Todd has personally denied this. This article was originally published on U.Today More

The investment fund Banana Capital PTE. LTD., specializing in effective asset management through proprietary Web3 strategies, is proud to announce plans to increase its funding to $100 million for an updated AI-driven DeFi strategy.By leveraging varying hedging techniques, the company has been able to maximize capital efficiency and address the risk of impermanent loss in decentralized exchange (DEX) liquidity pools, achieving an average annual return of 61.13% in retrospective analysis from 2021 to 2023.Banana Capital at a GlanceBanana Capital is an investment fund that aims to help investors manage capital, reduce risk, and work to achieve consistent high returns through proprietary Web3 strategies.With experience dating back to 2017, the fund offers solutions to assist in preserving and growing capital. The firm emphasizes risk management and diversification in its solutions to try and generate steady capital growth, even amid the volatility of the cryptocurrency market.Understanding Decentralized Finance (DeFi)DeFi, a fast-growing sector in Web3, offers blockchain-based alternatives to traditional financial products. By utilizing blockchain technology, these products are more secure, faster, and more cost-effective compared to their Web2 counterparts, opening up new earning opportunities.A decentralized exchange (DEX) is a type of cryptocurrency exchange that operates without a central authority or intermediary. It allows users to trade cryptocurrencies directly with each other on a peer-to-peer basis, using smart contracts to ensure secure and transparent transactions.Flagship Liquidity Providing Strategy in DeFi ProtocolsThe strategy involves Banana Capital providing assets on decentralized exchanges (DEX) through liquidity pools. When users on these platforms trade cryptocurrency assets, they pay transaction fees. These fees are distributed to the fund as rewards for providing liquidity. In other words, the fund facilitates asset swaps for traders and earns a portion of the fees from their transactions.Banana Capital’s primary strategy involves providing liquidity to DEXs. As traders exchange assets on these platforms, transaction fees are distributed to liquidity providers. This approach aims to enhance capital efficiency and mitigate risks in volatile markets through hedging techniques, with a focus on protecting underlying assets and ensuring stable returns.Historical Performance ChartSource: https://bananacapital.fund/Plans for Enhancing Strategic MechanismsBanana Capital continues to improve its strategies and algorithms, by aiming to optimize position management and in developing proprietary software. The fund is actively working on an IT solution that enables the efficient management of capital and liquidity pools with any portfolio assets.One of the challenges of providing liquidity to DEX pools is the lack of a unified, user-friendly aggregator where metrics like APR, TVL, and trading volume can be easily assessed to choose the best configurations for a given strategy. Additionally, timely repositioning is a crucial factor for optimizing pool management, especially at larger volumes.Thanks to a strong team of mathematicians, Banana Capital has developed a technical solution that effectively addresses these issues by managing liquidity pools through automated tools.Comment from Dinar Faskhutdinov, CEO of Banana CapitalFor more information on Banana Capital, readers can please visit bananacapital.fund.Press contact: Anastasia, PR Director: [email protected] can connect with us on social media:X: https://x.com/Banana_FundLinkedIn: https://www.linkedin.com/company/banana-fundTelegram: https://t.me/bananacap_annContactPR [email protected] article was originally published on Chainwire More

Bybit, the world’s second-largest crypto exchange by trading volume, is proud to announce the successful completion of bbSOL’s first month, marking a milestone in its mission to advance token staking on the Solana blockchain. As the first exchange-backed liquid staking token (LST) on Solana, bbSOL has gained momentum, attracting attention for its marketing strategies and integration across both centralized and decentralized platforms.Since its launch, bbSOL has positioned itself as a noticeable figure in the Solana ecosystem due to its position at the intersection of centralized finance (CeFi) and decentralized finance (DeFi). Key Milestones of bbSOL’s First Month:Total Value Locked (TVL) Surpasses 85 million: bbSOL has outpaced other exchange-backed staking tokens in TVL, underscoring its appeal to users and highlighting its growing influence within the Solana ecosystem. This surge in TVL reflects the token’s robust adoption and Bybit’s commitment to delivering staking opportunities for its users.Expanded Accessibility: bbSOL will be listed on Bybit Spot on 10 Oct 2024, 10AM UTC broadening user access to both trading opportunities and liquidity rewards across multiple ecosystems. By bridging the gap between Bybit’s centralized exchange and the broader DeFi landscape, bbSOL offers a streamlined experience for token holders.Strategic Partnerships: In addition to its availability on Bybit Spot, bbSOL has partnered with Jupiter Exchange, Solana’s leading swap aggregator, enhancing liquidity options and making bbSOL more versatile for users looking to trade efficiently within the Solana ecosystem.This article was originally published on Chainwire More