Cryptocurrency

As Bitcoin’s price stays low, less productive miners are forced out, resulting in a decline in miner revenue during bear capitulation. As weaker players leave, the market stabilizes and prepares for a recovery, which frequently signals the end of a bearish phase. Although total revenue is suppressed, remaining miners may be able to slightly increase their share of rewards when mining difficulty decreases in tandem with a decline in miner revenue. Bitcoin’s price starts to rise during this stage, increasing miner profits. Miners are gradually turning a profit again during this phase, which marks a shift from bear to bull market conditions. As miners return, revenue steadily rises, contributing to the general mood of the market and frequently drawing in new Bitcoin investors. The price of Bitcoin and miner revenue declined once more during a cycle, although not as sharply as during bear capitulation. This brief retreat serves as a reprieve before a subsequent significant stage. Although it is short-lived, this stage frequently signals some profit-taking and market recalibration. Bull euphoria is the last stage. Retail and institutional interest in Bitcoin peaks during this phase, which is the cycle’s peak and frequently marks the end of the bull market. Since high revenue corresponds with high prices, these cycles of miner revenue frequently reflect changes in the price of Bitcoin. A new upswing phase in miner revenue, such as the one that is currently developing, usually signals that Bitcoin is about to experience bullish momentum. The present increase in miner revenue may predict another Bitcoin rally, if history is to be repeated, which could position the market for a robust bullish phase.This article was originally published on U.Today More

In a tweet, Bitcoin historian Pete Rizzo shared a statement believed to have been made by the Bitcoin creator, marking exactly 16 years since it was made. This statement dates back to November 6, 2008, when Bitcoin was valued at $0. Fast forward to today, and Bitcoin has set a new all-time high of $75,410.The statement, which Rizzo shared, highlights Satoshi’s belief in Bitcoin’s power even when the digital currency had not yet launched and had no monetary value. Satoshi articulated his vision for Bitcoin in this succinct statement.Satoshi’s Power of Bitcoin statement came notably less than seven days after the Bitcoin white paper was released.On Oct. 31, 2008, the pseudonymous Bitcoin creator published the Bitcoin whitepaper, laying the groundwork for the world’s first and largest cryptocurrency. Bitcoin would later launch the following year, on January 3, 2009, precisely, when Nakamoto mined the starting block of the chain, known as the genesis block.Today, as Bitcoin reaches new highs, Satoshi Nakamoto’s early declaration about the potential of Bitcoin, even when it was $0, remains relevant.In the past 24 hours, the market saw a mix of long and short positions being liquidated across various exchanges. This wave of liquidations comes at a time when several cryptocurrencies are experiencing significant gains. Bitcoin recently hit a new all-time high of $75,410 and traded at $73,717 at press time.According to CoinGlass data, bullish bets recorded $212 million in liquidations, while traders expecting the crypto price to fall further faced $365 million in liquidations.The largest single liquidation order happened on Binance – a BTCUSDT trade worth $74.98 million.This article was originally published on U.Today More

HTX releases their October performance report, and for them, October was a milestone month, achieving substantial growth in transaction volume, user growth, and organic traffic. HTX Global Market Records Impressive Growth, Platform Receives Honor at Blockchain Life 2024HTX delivered a report in October, characterized by notable growth in both market performance and user base. The platform experienced a 12% month-on-month increase in user registrations and a 15% surge in the number of users making deposits from the previous month. Traffic data also showcased growth. Page views (PV) reached 42 million, reflecting a 10.5% month-on-month increase, while total exposures soared to 287 million, representing a 26.5% month-on-month growth.The number of external links rose to 6.9 million, marking an increase of 1 million and a 17% rise from the previous month, indicating a steady upward trend in market heat for HTX. Keyword inclusion reached a new high of 51,700, a 41% month-on-month increase, further driving traffic growth.From October 22 to 23, HTX made a prominent presence at Blockchain Life 2024’s Platinum Exhibition Area, while serving as an exclusive sponsor of the Business Networking Area. This initiative bolstered HTX’s brand and deepened its cooperation with the Middle East’s crypto community, providing a fresh impetus to the innovative applications of blockchain technology and cryptocurrencies worldwide.Justin Sun, Global Advisor of HTX, was honored with the “Crypto Entrepreneur of the Year” award at Blockchain Life 2024, recognizing his significant contributions to the blockchain industry.Asset Listings Ride the Memecoin Wave, Research Reports Focus on Industry TrendsIn October, HTX achieved outstanding performance in new asset listings with 15 new assets listed this month, primarily targeting hot market trends, including AI meme coins such as GOAT, ACT, and FARTCOIN. GOAT stood out with an impressive 300% increase after its debut on HTX. Additionally, the platform’s exclusive listings of projects such as EIGEN, PUFFER, SCR, and GRASS have offered users a wider range of investment options.Regarding research reports, HTX Ventures has garnered profound insights into market trends, publishing two key industry reports centered on industry highlights:1. 2024 Meme Sector Analysis: From Viral Spread to Ecosystem Beachhead. 2. 2024 U.S. Election: A Potential Turning Point from Tight Regulation and Ban to Support and Innovation. In terms of major events, on October 15, 2024, HTX DAO announced the successful completion of the $HTX burn for Q3 2024. In this quarter alone, over 15,811,683,954,403 $HTX, valued at approximately $21.25 million, were burned. According to HTX DAO, the ecosystem liquidity pledge mechanism has been retired based on feedback from committee members and community users. Moving forward, the $HTX portion previously used for pledges will be directly burned, further enhancing the liquidity and scarcity of $HTX.Meanwhile, HTX DAO also introduced the HTX DAO Ambassador Program, an initiative aimed at recruiting global advocates to expand HTX DAO’s reach and foster cross-community collaboration.Streamlined Products, Personalized Services, and Enhanced SecurityIn October, HTX took crucial steps to optimize product features and strengthen security measures. HTX App has undergone significant optimization, achieving a 36% increase in startup loading speed and a 40% reduction in network loading failure rates, thereby delivering an improved user experience. Moreover, the app now also features the industry’s first seamless account-switching function to further enhance user convenience. To show appreciation for user support, HTX has fully upgraded its Flexible products at HTX Earn, offering limited-time interest rate boosts for 13 major crypto assets.HTX’s customer service team performed well in October, assisting 30,422 users and efficiently handling 63,532 inquiries, mostly related to P2P trading and account security. With user satisfaction surpassing 82%, this demonstrates HTX’s dedication to delivering high-quality services.In terms of security, HTX has added a web-end anti-cookie hijacking feature to protect user accounts. The platform also introduced biometric authentication, API support for ED25519 encryption, and self-generated API keys to enhance trading security.HTX’s October performance report highlights not only the platform’s achievements in user growth, product optimization, and security measures but also its dedication to advancing the globalization strategy. With a steadfast commitment to user satisfaction, HTX will continue to make steady progress, offering a premium service and a rewarding experience for users worldwide in the crypto space.About HTX Founded in 2013, HTX has evolved from a virtual asset exchange into a comprehensive ecosystem of blockchain businesses that span digital asset trading, financial derivatives, wallets, research, investments, incubation, and other businesses. As a world-leading gateway to Web3, HTX harbors global capabilities that enable it to provide users with safe and reliable services. Adhering to the growth strategy of “Global Expansion, Thriving Ecosystem, Wealth Effect, Security & Compliance”, HTX is dedicated to providing quality services and values to virtual asset enthusiasts worldwide.For more information on HTX, users can visit the HTX Square, or https://www.htx.com/, and follow X, Telegram, Discord. For further press enquiries, please contact [email protected] Finn [email protected] article was originally published on Chainwire More

While Bitcoin’s surge to its ATH has brought renewed optimism to the crypto market, Ethereum’s price has not mirrored this upward trend to the same extent.According to Lookonchain which highlighted the development, the whale bought 14,233 ETH from Binance at a high price of $3,502 between May 29 and Sept. 30, spending around $49.8 million in total. However, with Ethereum’s price currently well below that level, the whale’s sell-off has resulted in a realized loss of $12.8 million.On the other side of the divide, Bitcoin whales appear to be accumulating. Lookonchain reported that 11 new wallets withdrew 1,807 BTC worth $132 million from Binance in recent hours.Another Bitcoin whale, according to Lookonchain, is currently long on BTC again via recursive borrowing. The whale has reportedly borrowed $27 million from Aave to buy 366.31 WBTC at an average price of $73,708.Meanwhile, a BTC whale is counting its losses after being liquidated for $74.98 million after shorting BTC.Ethereum likewise surged from lows of $2,420 to $2,643, printing a massive green candle in today’s trading session. At the time of writing, ETH was up 7.63% in the last 24 hours to $2,633 but down 46.23% from its all-time high of $4,891 reached on Nov. 16, 2021.According to IntoTheBlock data, 64% of Ethereum addresses remain in profit. However, this scenario presents a silver lining as Ethereum sits just above critical on-chain support levels, which may act as a buffer against further downside pressure.This article was originally published on U.Today More

In addition to highlighting the worth of MicroStrategy’s sizable Bitcoin holdings, the rising price of Bitcoin also highlights how successful Michael Saylor’s strategy for cryptocurrency investing is. At current prices, MicroStrategy owns about 158,245 BTC, which is worth over $11 billion. Significant profit in the company’s holdings suggests that the dollar-cost average strategy and the longer term bullish outlook for Bitcoin has worked well. MicroStrategy’s balance sheet appears to be even stronger in light of Bitcoin’s recent surge, which boosts shareholder confidence. The recent break above $75,000 on the price chart of Bitcoin suggests that there may be more bullish momentum ahead. A rally toward $80,000 and higher may be possible if Bitcoin can hold levels above this one, which could support MicroStrategy’s stock growth trajectory. The critical support levels of $68,000 to $70,000 are probably being watched by investors to see if Bitcoin maintains its strength.A move toward $80,000 would indicate a strong continuation of the bull run, which would be good for MSTR as well. In addition to highlighting the correlation between its stock price and Bitcoin, MicroStrategy’s optimistic performance points to a wider recovery trend on the cryptocurrency market. Given the increasing dominance of Bitcoin and the improving mood of the market, MicroStrategy’s stock could continue to rise and gain from the robust digital asset market. It is crucial for MSTR investors to keep an eye on Bitcoin’s key levels because any changes in the price of the cryptocurrency will probably have an immediate effect. This robust opening supports the argument for MSTR as a stand-in investment for Bitcoin exposure, providing a distinctive entry point for institutional and retail investors hoping to profit from the cryptocurrency’s surge, especially considering MicroStrategy’s strong correlation with Bitcoin’s performance.This article was originally published on U.Today More

Many experts, traders and prominent entrepreneurs in the crypto industry began to express their opinions and projections regarding new all-time highs. However, the most iconic reaction came from former Binance CEO Changpeng Zhao, known as CZ. In a laconic, yet eloquent post, Zhao broke his silence amid Bitcoin’s record-high euphoria with a simple “gm.” It was indeed a good morning when some of the alternative cryptocurrencies, such as UNI of Uniswap or Dogecoin (DOGE), added double digits in a few hours, and Bitcoin itself renewed its historic high for the second time in a year.The entrepreneur, who was just released from U.S. jail after the Binance raid by U.S. law enforcement, said that in his opinion, the crypto market is ruled by four-year cycles. As he presented, 2013, 2017 and 2021 were all bull markets, with years before them serving as a recovery period. In this case, he suggests the idea of a real bull run in 2025, although CZ refrained from making any concrete predictions about it.On the other hand, Zhao confirmed that his long-term outlook is bullish.This article was originally published on U.Today More

Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is excited to release CryptoLens AI, a new AI-powered tool developed to streamline and elevate token analysis for crypto investors. Designed to facilitate data-driven decision-making, CryptoLens AI redefines user experience with AI-powered clarity, providing busy traders with straightforward and comprehensive insights in their search for signals amidst the noise in the fast-paced digital asset market. Tasked with analyzing vast data across vectors and simplifying technicalities with large language models, Bybit’s CryptoLens AI complements users’ research into their token of choice. At its core, the powerful tool integrates advanced quantitative analysis in each evaluation to streamline the otherwise labor intensive and time consuming research process.A score is assigned based on a matrix of six factors: social engagements, team and funding, on-chain activity, token activity on Bybit, liquidity and dispersion, and token security. The powerful AI copilot allows users to take a macro view based on concrete token metrics and more nuanced variables, empowering them to rise above the hype. Key Features:The tool is now available for free for registered users on Bybit. Users can discover the potential of CryptoLens AI and take control of their token analysis with confidence: Bybit CryptoLens AI.#Bybit / #TheCryptoArkAbout BybitBybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 50 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle (NYSE:ORCL) Red Bull Racing team.For more details about Bybit, please visit Bybit PressFor media inquiries, please contact: [email protected] more information, please visit: https://www.bybit.comFor updates, please follow: Bybit’s Communities and Social MediaContactHead of PRTony [email protected] article was originally published on Chainwire More

The world’s biggest cryptocurrency rose 7% to $75,060, topping March’s peak, with the prospect of Trump’s return to the White House seen ushering in a softer line on cryptocurrency regulation.Republican Trump won 15 states while Democrat Kamala Harris captured seven states and Washington, D.C., Edison Research projected, and though the race remained too early to call financial markets began moving in the Asia session to price a victory for the former president.Matthew Dibb, chief investment officer at cryptocurrency asset manager Astronaut Capital, said markets expected a change in attitude at the U.S. Securities and Exchange Commission to remove a choke point for crypto innovation and speculation.”(A) Democrat win would have felt like a short term nail in the coffin,” he said. “Probably not the case long term but the market is placing high importance on it.”Smaller cryptocurrency ether also jumped 7.5% but at $2,593 remained well below its 2021 high of $4,867. More