Cryptocurrency

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The change means that will cut ties with some of the outside bidders who were chosen to oversee the new company, leaving mining company US Bitcoin Corp. in charge of the new, creditor-owned mining business.Celsius made the known in a new tweet, stating that the court has approved the implementation of its “MiningCo transaction,” thus proceeding with its plan.”MiningCo Transaction” envisions the development of a new publicly traded Bitcoin mining company, which will result in increased liquid cryptocurrency dividends to account holders following Celsius’s expected bankruptcy exit in early 2024.Celsius claims that its customers will own equity in Mining NewCo, which will be managed by US Data Mining Group, Inc. It goes on to say that this is another key milestone in its Chapter 11 cases, as it maps a new course for the company.After the SEC denied that plan, Celsius its broader intentions to generate fees from validating cryptocurrency transactions and launching new lines of business.Celsius’s scaled-back bankruptcy plan frees up $225 million in cryptocurrency assets that would have been used to support the SEC-rejected new lines.Celsius filed for Chapter 11 bankruptcy protection in July 2022 and is expected to exit this state in early 2024.This article was originally published on U.Today More

In a tweet, the analyst pointed out that Bitcoin’s design revolves around four-year cycles, influenced by its halving events, and frequently reflects its . He noted that historically, this pattern translates to three years of bullish trends followed by one year of bearish correction. According to Martinez, based on this cycle, BTC is currently in an upward phase, with the potential for extension until December 2025.On May 11, 2020, the most recent Bitcoin halving occurred, leading to a substantial decrease in mining rewards, from 12.5 coins per block to 6.25 coins. As expected, the constrained supply contributed to a . Bitcoin’s value climbed from $6,877 on April 11, one month before the halving, to $8,821 during the event. Following the event, despite notable fluctuations, the price continued to ascend over the subsequent year, reaching $49,504 on May 11, 2021.As of the latest , the current price of Bitcoin stands at $42,831. While experiencing a marginal 0.22% dip in the last 24 hours, the digital asset has demonstrated an overall positive trend, boasting an 11.89% increase in the last 30 days. Investors and analysts alike are closely monitoring these developments as they anticipate the potential bullish momentum that the upcoming Bitcoin halving event could bring to the cryptocurrency market.This article was originally published on U.Today More

Per IntoTheBlock, average daily fees have increased 35 times since December 2022, with Bitcoin (BTC) miners profiting handsomely as transaction costs have risen.Ordinals, a protocol that allows users to store non-fungible tokens (NFTs) on the Bitcoin blockchain as inscriptions, is primarily responsible for the spike.Bitcoin Ordinals, a mechanism for generating non-fungible tokens (NFTs) known as inscriptions, launched in January, bringing the NFT and smart contract narratives to the Bitcoin network.According to the most recent data published by on Dec. 26, users have a cumulative total of 51,720, 061 Ordinals inscriptions.Not only has Bitcoin achieved new highs in network fees, but Santiment believes that 2023 will be remembered as one of the greatest performing years of the century, accounting for various main sectors.points out that Bitcoin and Ethereum are still within striking distance of breaking through one-and-a-half-year highs set just three weeks ago.Bitcoin has rallied amid speculation that the U.S. Securities and Exchange Commission is nearing approval of an exchange-traded fund that will invest directly in the largest token.Investors are aiming for a Jan. 10 deadline for the U.S. Securities and Exchange Commission to decide whether to approve a spot Bitcoin ETF. Grayscale is requesting approval to transform its Bitcoin Trust, the world’s largest, into an ETF.was barely 0.04% higher at the time of writing, trading around $43,088 after recovering from Tuesday’s loss.This article was originally published on U.Today More

According to , the price of the BTC/USDT perpetual contract on Binance suddenly rose from around $42,000 to $420,000 several times in early trading today. He posted an image — a Bitcoin price chart — that depicted a massive candle that reached highs of $428,391.Wu recalls that Binance had previously experienced a similar issue in September, which former Binance CEO Changpeng “CZ” Zhao attributed to a problem with the chart display.issued a statement regarding this on X (formerly Twitter), stating it was aware of a visual error with the chart display on USDT-margined BTC/USDT Futures.The top crypto exchange reassured users, stating that trading is not impacted in any way and funds are SAFU. Binance also reassured users that its team was working on resolving the issue as soon as possible.At the time of writing, BTC was down 1.09% in the last 24 hours to $42,477.Early next year, Binance will be launching the USDC-margined perpetual contracts for Bitcoin (BTC) as well as for ETH, BNB, SOL and XRP starting on Jan. 3, 2024, at 12:30 p.m. (UTC), with up to 125x leverage.To celebrate the introduction of USDC-margined futures contracts on the platform, Binance Futures will be extending a 10% promotional trading fee discount for all trades on USDC-margined futures contracts on Jan. 3, 2024, at 12:30 p.m. (UTC).This article was originally published on U.Today More

However, what is intriguing is that institutional fear of missing out (FOMO) has yet to kick in, as noted by prominent market observers. Greeks.live, a cryptocurrency analytics platform, (formerly Twitter) to share insights on Ethereum’s recent performance. According to their tweet, the surge in ETH has not only propelled it to breach the $2,400 barrier but has also resulted in all major term IVs soaring to yearly highs.Additionally, the daily volume (DVOL) spiked to 70%, reaching a level not seen since April. Analyzing options data, the tweet pointed out that the skew, a measure of the perceived distribution of potential price outcomes, has not followed the rally. This suggests that institutional traders are yet to fully embrace the FOMO associated with ETH’s .As of the latest available data, Ethereum is currently priced at $2,380, reflecting a notable 6.49% increase in the last 24 hours. Over the past 30 days, ETH has experienced an of 18.88%. The trading volume of Ethereum has also witnessed a substantial uptick, rising by 84.35% in the last 24 hours and currently standing at $17.9 billion.Despite the impressive gains, the subdued response from institutional traders has left the market speculating about the potential catalysts that could trigger their entry into the FOMO-driven rally. Whether this is a brief pause before a larger institutional influx or a sign of cautious optimism remains to be seen. The cryptocurrency market, known for its unpredictability, continues to be a source of both excitement and speculation as the year draws to a close.This article was originally published on U.Today More

The focal point of this significant acquisition is Saylor’s ambitious goal, as outlined by renowned Bitcoin evangelist Max Keiser. According to Keiser, who also serves as an advisor to the president of El Salvador, the company’s use of a collateral seesaw strategy between stock and debt issuance, coupled with strategic purchases, positions the company to potentially own 5% of all Bitcoin in existence. This would equate to a monumental 1.05 million BTC., a prominent lawyer, crypto enthusiast, and legal representative of XRP holders, weighed in on Saylor’s ambitious pursuit. Deaton expressed that MicroStrategy’s commitment to amassing more Bitcoin than Satoshi is evident. As an owner of both MicroStrategy stocks and BTC, the lawyer highlighted the confidence he has in Saylor’s strategy, noting that, as a shareholder, he has no complaints despite differing opinions on the “reckless” approach.Notably, MicroStrategy’s average purchase price stands at $31,168, leading to a remarkable profit of over $2.25 billion at today’s prices.This article was originally published on U.Today More

Buterin acknowledges probably the biggest issue on the network right now – high fees. This barrier has not only hindered widespread adoption but also skewed the network toward financial applications, as only users with significant resources can afford to transact during peak times. The proposed solution to this predicament lies in the advancement of rollups. Rollups perform transaction execution outside the main Ethereum chain (layer 1) but post transaction data to layer 1, thereby enhancing the network’s capacity while retaining its security.Source: The advent of rollups, particularly optimistic and zero-knowledge rollups, has been a primary way of reducing fees on the network. These rollups promise to execute a large number of transactions at a fraction of the cost currently required on the main chain, potentially lowering the entry barrier for new users and diverse applications.Account abstraction is another key component of vision. It represents a shift in how user accounts and transactions are managed, offering a more flexible and user-friendly model that could open up new possibilities for application developers.Light clients, which have been on the backburner for some time, are now closer to fruition. Their role is crucial for enabling users to interact with the Ethereum network without running full nodes, thereby lowering the technical barriers to entry and participation.The most groundbreaking development highlighted by is the practical application of zero-knowledge proofs (ZKPs). Once considered a distant future technology, ZKPs are now increasingly developer-friendly and on the verge of consumer application. This technology could revolutionize privacy and scalability on Ethereum by allowing users to validate transactions without revealing underlying information.This article was originally published on U.Today More