Cryptocurrency

 Indonesia is setting its sights on becoming a leader in the digital economy by focusing heavily on blockchain technology. Under its ambitious “Indonesia Golden Vision 2045,” the country integrates five key technologies — artificial intelligence, IoT, metaverse, quantum computing, and blockchain — into its economy and everyday life.Blockchain is set to play a vital role, with its promise of improved transparency, security, and efficiency across both public and private sectors.Denpasar Mayor Gusti Ngurah Jaya Negara kicked things off, calling blockchain a game-changer for transparency and fairness. “Blockchain will drive Indonesia’s prosperity by enhancing transparency and efficiency for the public good,” he said.Throughout the day, speakers highlighted practical uses for blockchain, from land registry and public health records to product authentication. Mandala Chain also announced plans to integrate its IDCHAIN solution with government agencies to bring over 10 million users on board in collaboration with PANDI, the official “.ID” domain registry.Mandala Chain is also teaming up with local governments to test decentralized identity systems in banking, healthcare, and smart city projects.The company, in partnership with Polkadot and KILT Protocol, is working to expand blockchain infrastructure beyond Indonesia with a greater focus on emerging markets. The goal is to use Polkadot’s scalable tech and KILT’s digital identity solutions to build a framework for these fast-growing regions.The summit also comes hot on the heels of Polkadot’s release of a detailed guide on funding options available for projects and individuals at various stages of development. The guide includes venture capital, ecosystem-wide grants, specialized development grants, community-driven funding initiatives, project-specific grants, and bounties.The guide also outlines opportunities ranging from small grants to multi-million dollar funds, focusing on areas such as DeFi, gaming, and infrastructure. More

August 2024 Highlights:Strategic HODL Increase:HIVE emphasizes that with a Bitcoin HODL value exceeding $164 million as of August 31, 2024, the Company’s enterprise value remains compelling compared to industry peers.Executive Insights:Frank Holmes, Executive Chairman, commented, “We remain focused on our strategy of maintaining the lowest G&A expenses per Bitcoin mined, maximizing cash flow return on invested capital, and achieving high revenue per employee while minimizing share dilution. Our disciplined approach, supported by a global team operating across nine time zones, positions HIVE as one of the leanest Bitcoin mining operations with an attractive EV to EBITDA multiple, holding over 2,500 clean and green Bitcoin on our balance sheet.”Aydin Kilic, President and CEO added, “Over the past month, we have optimized our fleet’s performance, achieving an average hashrate of approximately 5.2 EH/s by fine-tuning the firmware of our 30 J/TH machines, improving their efficiency to 27-28 J/TH. This has led to a global fleet efficiency of approximately 23 J/TH. We plan to continue this optimization over the next nine months, upgrading our remaining 30 J/TH ASICs. This will increase our installed hashrate at existing facilities to 6.9 EH/s with a blended fleet efficiency of 19 TH/s.”He further noted, “To support this strategy, we have acquired 1,000 Bitmain S21 Pro Antminers for immediate delivery to upgrade our existing suite of equipment. Additionally, we have purchased 300 Bitmain S19 XP miners to fully utilize available rack space at our Lachute facility. These machines were purchased and installed in August.”With this monthly rolling upgrade strategy, HIVE’s updated target hashrate is projected to reach 13.5 EH/s, with a global blended fleet efficiency of 16.9 J/TH upon the completion of the Paraguay facility. This will be achieved while maintaining our green energy strategy, which prioritizes the use of hydroelectricity to power our data centers.To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/5335/222206_15585eaa148f4a0e_0001full.jpg More

This article was originally published on U.Today More

As always, this post was aimed at promoting Bitcoin, and in particular depicted Saylor in the form of a fast-food restaurant worker with BTC logos. “We are all on Team Bitcoin,” Saylor says, looking out of the picture with artificially intelligent eyes.Such Bitcoin-themed promotional posters by Saylor have long been part of the crypto community’s culture and a meme of sorts. As you can see, the entrepreneur himself is not going to stop, finding new themes and inspirations for posts every time.What you cannot take away from Saylor is that his similar posts are backed by actual actions, as MicroStrategy is already one of the largest holders of Bitcoin, with 226,500 BTC worth $12.78 billion.This is definitely not the end of the tech company’s purchases, and with September coming up, we can expect another MicroStrategy purchase announcement in the very near future.Thus, the price of BTC fell to $56,400 amid active selling caused by disappointing macro expectations and the fall of the stock market. Whether a post from Michael Saylor will help change the minds of sellers to sell Bitcoin and pull them back to the orange team remains to be seen.This article was originally published on U.Today More

Flowing from this, Neuner predicted that another meltdown might just be on the horizon. Hence, it seemed appropriate to gauge investors’ preparedness and enlighten the community as to what to expect. “Are you prepared for a crypto meltdown?” Neuner asked.Recently, some notable entities that suffered losses on the stock market include Nvidia (NASDAQ:NVDA), Tesla (NASDAQ:TSLA), MicroStrategy, Microsoft (NASDAQ:MSFT), Google (NASDAQ:GOOGL) and Amazon (NASDAQ:AMZN), among others. Nvidia, a world leader in artificial intelligence computing, suffered a loss of 9.22%, while Tesla with its base in electric cars and clean energy recorded a loss of 1.56%.Some entities listed on the U.S. stock market with crypto ties were not exempt from this meltdown. For instance, MicroStrategy, the business intelligence firm led by Michael Saylor, registered a 3.95% loss from the U.S. stock market meltdown.Bitcoin, the world’s largest crypto asset, has registered a 4.57% drop in market capitalization to $1.12 trillion. As of the time of writing, BTC changed hands for $56,573.29, representing a 4.53% decrease in the past 24 hours.It is the same outlook for Cardano (ADA) and XRP, whose market capitalization dropped by 4.04% and 3.77% to $11,415,589,469 and $ 30,921,812,619, respectively.The market performance over the past seven days reveals that ADA has been on a downward slide since Aug. 29. As for XRP, it has maintained a seven-day run of bearish sentiment and price decline, per CoinMarketCap data.This article was originally published on U.Today More

The leader of the cryptocurrency market, Bitcoin, shows a 4.6% plunge in the past 24 hours (with a 1% recovery eliminated today). The S&P 500 index has fallen by 6.88 (0.12%) today.Cramer’s tweet about the AI-related sell-off took place in light of the U.S. Department of Justice beginning to subpoena microchip-producing behemoth Nvidia (NASDAQ:NVDA) as part of the escalating anti-trust probe.Nvidia’s position in the rapidly growing AI space has become dominant recently, with many AI development companies, including Elon Musk’s xAI, purchasing H100 chips to train their AI models.The DoJ is subpoenaing not only Nvidia but also several other chip-producing companies since they are suspected of violating antitrust laws, according to Bloomberg. The U.S. government is now getting close to issuing a formal complaint against Nvidia.In line with this, as September has only just started, the current sell-off seems to be following the “traditional” bearish scenario. As for Octobers, Bitcoin rose by 40% and 50% at the highest in the last 10 years.However, Bitcoin maximalist Samson Mow doubts that this concept of bearish Septembers is accurate about BTC. In today’s tweet, he shared several key reasons why he expects the world’s flagship cryptocurrency to surge despite all the bearish September predictions and expectations.Mow believes that “underfunded pension funds” are likely to allocate their hundreds of billions of dollars to Bitcoin. MicroStrategy, he expects, will certainly continue to issue convertible senior notes to offer more debt to investors in order to raise money to buy more Bitcoin.This article was originally published on U.Today More

He starts from the previous bear market low in November 2022 and measures Bitcoin cycles differently than most traders. The crucial point, in his opinion, is that this cycle’s peak, which started prior to the anticipated halving in March 2024, has not yet been reached.Surprisingly, after accounting for inflation, the peak from the last bull cycle remains stable. From Brandt’s analysis, three key conclusions can be drawn. First, there is a discernible pattern of lower highs and lower lows for Bitcoin. This downward trend implies that the energy required to push Bitcoin to new heights has been absent. The second point is that the lows have a continuously decreasing slope. This pattern suggests a continuous lack of buying pressure, or momentum, which may be problematic for investors hoping for an imminent recovery or all-time highs. In closing, Brandt points out that this cycle is different from the others in that it has never taken Bitcoin this long to reach a new all-time high following a halving.Brandt’s perspective is consistent with more widespread market concerns. His finding that Bitcoin’s cycle is taking longer to recover could be an indication of more serious structural problems, or it could just be a reflection of the macroeconomic climate. A number of variables are influencing the price of Bitcoin, including interest rate inflation and worldwide financial instability.At the absolute least, a protracted period of consolidation may be indicated by the continuous sequence of lower highs and lower lows. Although some people may still be bullish about Bitcoin’s long-term prospects, Brandt’s analysis serves as a sobering reminder that there may not be many more highs to come.This article was originally published on U.Today More

UEEx, a cryptocurrency exchange, has seen rapid growth in a challenging market environment, marking progress in expanding its global user base and enhancing engagement across multiple platforms. The company’s strategic initiatives have contributed to its rising profile among global cryptocurrency exchanges.Unprecedented User Growth and EngagementSince its launch, UEEx has reported over 1 million global registrations and 2 million subscribers to its Telegram mini-app, UECoin Miner. The exchange has also recorded a 125.35% month-over-month increase in trading volume, reflecting growing user activity. Currently, UEEx serves users in more than 110 countries, underscoring its expanding global footprint.Launch and Performance of UECoin ($UE)A critical factor in UEEx’s success is the strategic launch of its platform token, UECoin (UE). Launched on July 18, 2024, UECoin was initially offered at a presale price of 0.0001 USDT, with 1.5 billion UE tokens allocated for this phase, representing 15% of the total 10 billion token supply. The remaining tokens were allocated with 75% designated for mining rewards and 10% for ecosystem development.After its official listing at the end of July 2024, UECoin experienced an price surge, rising from its presale price to a peak of 0.00722 USDT. By August 27, 2024, UECoin’s price had soared past 0.4 USDT, marking an astonishing 4344.44% increase in a short time.The performance of $UE has been a significant contributor to the overall success and rapid growth of the UEEx platform.Innovative UECoin Miner Driving User EngagementAt the heart of UEEx’s strategy is the innovative UECoin Miner Telegram mini-app, which has transformed user interaction with cryptocurrencies. The app allows users the opportunity to earn UECoin or USDT every minute through active engagement. The more users interact with the app, the more they have the chance to earn.The UECoin Miner has effectively leveraged Telegram’s extensive user base, driving substantial traffic to both UECoin and the UEEx platform. This seamless integration has not only accelerated user growth but also increased demand for UECoin, contributing significantly to its explosive price growth.Future OutlookUEEx’s rapid ascent in the crypto exchange market is a testament to its strategic vision, particularly in launching the UECoin token and integrating it with the UECoin Miner mini-app on Telegram. The platform’s impressive growth metrics, including a tenfold increase in the value of its platform token and significant global user base expansion.As UEEx continues to innovate and broaden its offerings, it aims to position itself as a leader in a market that often challenges even the most established players. With a user-centric approach and the smart adoption of new technologies, UEEx is well-poised for sustained success and continued growth in the future.Website: https://ueex.com and X: https://x.com/ueex_official.ContactMarketing managerRubyofficial@ueex.comThis article was originally published on Chainwire More