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Bitcoin News
Newsbtc
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Ethereum Proposal EIP-7781 Promises Network Performance Boost – Here’s What To Expect
- Ethereum Improvement Proposal (EIP) 7781 aims to reduce Ethereum network slot times, expand blob capacity, enhance decentralized exchange (DEX) performance, and lower gas fees.
- The proposal promises to reduce network slot times from 12 seconds to eight seconds, increasing transaction throughput.
- EIP-7781 aims to distribute network bandwidth more evenly, improving network efficiency.
- While the proposal has received positive feedback, there are concerns about its impact on solo stakers and the need for higher hardware requirements.
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Newsbtc
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Solana (SOL) Flashes Breakdown Signs: Will Support Hold?
- Solana (SOL) price declined below the $146 support level and is consolidating.
- A break below $140 support could lead to further downside.
- Resistance levels are at $146.50 and $150.
- If support holds, SOL price could aim for a fresh increase towards $160 and $172.
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Cryptonews
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‘Japanese MicroStrategy’ Metaplanet Buys Another ¥1 billion Worth of Bitcoin
- Japanese firm, Metaplanet, has added ¥1 billion worth of Bitcoin to its holdings, bringing the total to 639.5 BTC.
- Metaplanet purchased an additional 108.786 BTC, spending approximately AU$91,850 per Bitcoin.
- The company focuses on Bitcoin as its primary treasury reserve asset to drive global adoption.
- Metaplanet's share price has tripled since April, reflecting its successful Bitcoin investment strategy.
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Bitcoinsensus
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Nick Szabo Conquers Len Sassaman as Likely Satoshi Nakamoto on Polymarket
- Nick Szabo leads the betting odds on Polymarket for being Satoshi Nakamoto with 27.9%
- Len Sassaman follows with a 14% likelihood
- Other candidates like Adam Back, Hal Finney, and Paul Le Roux have odds below 5%
- The upcoming HBO documentary has influenced the odds as it focuses on revealing Satoshi Nakamoto's true identity
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Newsbtc
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XRP Price Struggle Continues: Can Bulls Turn It Around?
- XRP price is struggling to rise above the $0.550 level.
- The price must clear the $0.5450 and $0.5500 resistance levels to start a decent increase.
- XRP price is still consolidating above the $0.5080 support.
- There was a break above a key bearish trend line with resistance at $0.5380 on the hourly chart of the XRP/USD pair.
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Bitcoinist
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“Asia’s MicroStrategy” Metaplanet Increases Bitcoin Holdings With $6.7M BTC Purchase
- Japanese investment firm Metaplanet has added another 108.78 Bitcoin (BTC) to its existing holdings, bringing its total reserves to over 639 BTC.
- Metaplanet purchased an additional $6.7 million worth of Bitcoin, indicating confidence despite current geopolitical tensions and a slow start to October for BTC prices.
- Metaplanet's stock price surged 7.86% following the latest BTC purchase, with total Bitcoin holdings now worth over $40 million.
- Japan is seeking to attract crypto capital by easing regulations, with plans to reform existing digital asset regulations and potentially introduce a crypto exchange-traded fund (ETF).
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Newsbtc
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Ethereum Price Dips Again: Is This a Buying Opportunity?
- Ethereum price extended its increase above the $2,500 zone. ETH is now correcting gains and might find support near the $2,400 zone.
- Ethereum started a downside correction from the $2,520 zone. The price is trading below $2,450 and the 100-hourly Simple Moving Average.
- There was a break below a key bullish trend line with support at $2,450 on the hourly chart of ETH/USD (data feed via Kraken). The pair must stay above the $2,400 support level to start another increase in the near term.
- If Ethereum fails to clear the $2,450 resistance, it could start another decline. Initial support on the downside is near the $2,420 level.
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Bitcoinist
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Global Crypto Fund Outflows Hit $147M—Here’s What’s Driving Investors Away
- Crypto asset investment products experienced $147 million in net outflows globally, ending a three-week streak of inflows, according to CoinShares.
- Major asset managers like BlackRock, Fidelity, and Grayscale were impacted by the outflows, largely led by Bitcoin-based funds.
- Bitcoin-based funds saw $159 million in net outflows, while short-Bitcoin investment products attracted $2.8 million in net inflows.
- Ethereum-based products recorded net outflows of $28.9 million due to a lack of investor interest, while multi-asset investment products attracted net inflows of $29.4 million.
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Bitcoinist
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Crypto Watchlist: Top Coins And Events You Can’t Miss This Week
- HBO will premiere a documentary claiming to reveal the true identity of Satoshi Nakamoto, the creator of Bitcoin, on October 8, 2024.
- FTX's court hearing on October 7, 2024, will determine if its $16 billion cash distribution plan can proceed, potentially impacting the broader market.
- The Stacks network is preparing for a major upgrade called the 'Nakamoto Upgrade' which introduces improvements and expands the utility of both Stacks and Bitcoin.
- Macroeconomic events including the release of FOMC minutes and US CPI data on October 9 and 10, 2024, respectively, could shape the direction of the crypto market.
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Bitcoinsensus
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Shiba Inu Burn Rate Up 544%, Outperforms Competitors With Monthly Gains
- Shiba Inu burn rate spikes, with over 5.1 million SHIB burned, a 544% increase from the previous day.
- Shiba Inu outperforms competitors, gaining 38% in the last 30 days, surpassing Dogecoin, Bitcoin, and Ethereum.
- Positive ecosystem growth with the launch of the web3 game 'Shiboshi Rush' and strong on-chain data.
- Shiba Inu holders remain optimistic as the burn rate spikes and the ecosystem continues to grow.
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Bitcoinsensus
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Bitcoin Surges to $63,000 While U.S. Job Growth Raises Uncertainty
- Bitcoin regains momentum in October, trading above $63,000.
- Strong U.S. job data raises uncertainty as the Fed may hold off on interest rate cuts, affecting Bitcoin.
- Bitcoin is up 142% this year, outperforming Ethereum.
- Investors await the upcoming FOMC meeting for further insights on Bitcoin's outlook.
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Newsbtc
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Ethereum Could Reclaim $2,700 As Key Data Signals Reduced Selling Pressure
- Ethereum investors are optimistic about a potential price surge driven by encouraging on-chain data.
- Glassnode data indicates a decline in ETH inflows into exchanges, suggesting increased accumulation and potential bullish breakout.
- Lower selling pressure and increased investor confidence could lead to upward price movement in the coming days.
- Ethereum's ability to reclaim crucial supply levels will determine its trajectory and potential for a bullish trend reversal.
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Coin Telegraph
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Bitcoin price faltered at $64K again — Here’s why
- Bitcoin struggles to overcome the $64,000 resistance as investors turn to stocks and cash options amid socio-political uncertainty.
- Bitcoin has been unable to sustain levels above $66,000 since July 31, despite a 5.2% gain between Oct. 3 and Oct. 7.
- Socio-political events appear to be the primary driver of Bitcoin's limited upside, with the global monetary base (M2) expanding while Bitcoin faces resistance at $68,000.
- The rally to $64,000 is unlikely to be solely influenced by the US fiscal situation.
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Stackexchange
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How to convert difficulty from `mining.set_difficulty` message for Litecoin?
- When converting difficulty from a mining.set_difficulty message to target for Litecoin, there are a few considerations to keep in mind.
- Bitcoin and Litecoin use different formulas to calculate the target from the difficulty value.
- For Bitcoin, the target is calculated using the formula max_target / difficulty.
- For Litecoin, a coefficient of 65535 is used to adjust the target, resulting in target = (max_target / difficulty) * 65535.
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Coin Telegraph
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ECB official proposes unified European ledger for digital assets
- European Central Bank executive board member Piero Cipollone proposes a unified European ledger for digital assets.
- The European ledger would bring together European digital assets and money in one place.
- Cipollone suggests creating a digital capital markets union for greater efficiency and synergy.
- Over 60% of banks in the European Union are exploring or experimenting with distributed ledger technology.
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