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Crypto-News-Flash
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BRICS Nations Expected to Drive Bitcoin Adoption, Says VanEck
- The BRICS bloc, consisting of Brazil, Russia, India, China, and South Africa, is expected to drive the adoption of Bitcoin (BTC) according to VanEck's Head of Digital Asset Research, Matthew Sigel.
- The BRICS alliance, which has recently expanded with the addition of five new nations, expressed its commitment to shift away from the US dollar but stated that it will not build new infrastructure for de-dollarization.
- Bitcoin's decentralized nature and technical features make it a viable option for the BRICS bloc, which has a combined GDP greater than the G7 countries.
- Bitcoin's usage is increasing globally as countries look for alternatives to circumvent US fiscal policy, and its price surge coincides with growing institutional interest in Bitcoin ETFs.
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Crypto-News-Flash
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302
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Bhutan Government’s BTC Transfer Sparks Speculation Amid $71K Bitcoin Surge
- Bhutan's government transferred 935 BTC ($66 million) to Binance amid Bitcoin's surge to $71,000.
- Bhutan holds substantial Bitcoin holdings, estimated at nearly $800 million, through its subsidiary Druk Holdings.
- The government's transfer suggests potential plans to sell Bitcoin through the world's largest crypto exchange.
- Bhutan's strategic shift into Bitcoin mining leverages its abundant hydroelectric power.
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Crypto-News-Flash
2w
117
XRP News: Chris Larsen Labels Kamala Harris as Key Pro-Crypto Candidate
- Chris Larsen, executive at Ripple, has shown support for Vice President Kamala Harris due to her pro-innovation message and plans for crypto industry regulation.
- Larsen has donated over $11 million in XRP to boost Harris' campaign against Donald Trump.
- He believes that Harris' administration will take a different approach to crypto policies compared to the Biden administration.
- Harris has emphasized the importance of blockchain and supporting emerging technologies like AI and digital assets.
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Newsbtc
2w
237
Image Credit: Newsbtc
Dormant Bitcoin Wallet From 2012 Awakens, Moving Millions—BTC Price To Dip?
- A dormant Bitcoin wallet from 2012 has been reactivated, moving millions of dollars.
- Approximately 159.2 BTC, valued at $11.3 million, was transferred from the wallet.
- The wallet's owner and their intentions remain unidentified.
- The reactivation coincides with Bitcoin's recent price surge.
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Coinpedia
2w
220
Image Credit: Coinpedia
Crypto Price Today (Oct 30th, 2024): Bitcoin Profit-Taking Curbs ATH Hopes?
- The crypto market cap rises to $2.44 trillion with a 3.83% increase.
- Bitcoin price pulls back to $71k levels after approaching ATH.
- Ethereum rises 1%, while Solana and XRP experience minor declines.
- Maker emerges as the top gainer, while Kaspa sees a significant drop.
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Coinpedia
2w
337
Image Credit: Coinpedia
Bitcoin Soars Toward New Highs: What’s Driving Demand in 2024?
- Bitcoin is nearing its all-time highs, just short of 1% of its peaks seen in 2024.
- US spot ETFs are expected to hold 1 million bitcoins and surpass Satoshi Nakamoto by mid-December.
- Bitcoin demand is outpacing supply, with ETFs buying 15,194 bitcoins in the last week.
- Bitcoin's dominance is increasing, while altcoins are not experiencing the same growth.
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Altcoinbuzz
2w
190
Trump Proposes ZERO Tax on American Crypto Assets
- Trump wants to eliminate taxes on American-made cryptocurrencies.
- He argues that taxing crypto is unfair and doesn't make sense.
- Trump suggests replacing taxes on crypto with tariffs on foreign tokens.
- The proposal aims to make American crypto assets more attractive and support domestic businesses.
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Bitcoinsensus
2w
125
Image Credit: Bitcoinsensus
Swell Moves Into Optimism’s Superchain Ecosystem by Launching an Optimistic Rollup on OP Stack
- Swell has dropped plans to build its L2 based on Polygon.
- They are moving into Optimism’s Superchain ecosystem and launching Optimic Rollup on the OP Stack.
- They are also going to introduce an innovative “proof of restake” protocol.
- Swell expects a grant from the Optimism Foundation for further development.
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Crypto-News-Flash
2w
77
Image Credit: Crypto-News-Flash
Bitcoin Momentum Builds: All-Time High ‘This Week’ Within Reach as BTC Hits $73K
- Bitcoin's bullish momentum above $72K indicates potential for a new all-time high.
- Traders anticipate a possible pullback before BTC continues upward, supported by robust market positioning.
- Bitcoin is trading at $72,526.10, with a 1.92% increase in the past day and a 9.10% rise over the past week.
- Macro-economic factors, including the U.S. presidential election and strong market positioning, support Bitcoin's continued growth.
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Tokenhell
2w
82
dYdX Announces Layoffs a Day After Consensys Sent Home 20% of Its Employees
- dYdX, a decentralized crypto exchange, has laid off 35% of its staff as CEO Antonio Juliano cites the need to restrategize.
- Juliano explains that increased competition and lower revenue made it challenging to sustain the massive payroll.
- dYdX offers futures trading with leverage of up to 25x, which sets it apart from competitors.
- These layoffs at dYdX come a day after Consensys, an Ethereum software firm, announced layoffs of 20% of its employees due to insufficient revenue.
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Altcoinbuzz
2w
12
Vitalik Buterin on The Purge: Exploring Ethereum’s Future
- The Future of Ethereum is an ongoing project. Vitalik Buterin is publishing articles on each of the six steps.
- The Purge is the fifth step in Ethereum's roadmap aiming to make Ethereum simpler and reduce computational costs of running a node.
- The Purge focuses on reducing client storage requirements and protocol complexity.
- It introduces solutions like history expiry, state expiry, and feature cleanup to achieve its goals.
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Bitcoinsensus
2w
419
Image Credit: Bitcoinsensus
A16z Report: Unpacking Crypto’s Real Active Users in 2024
- Blockchain addresses don’t necessarily translate to active crypto users, according to a report from VC firm Andreessen Horowitz (a16z).
- a16z’s unique methodology looked at wallet behaviour and industry data to make an estimate of 30-60 million active users.
- With 617 million crypto holders globally, there is potential to engage dormant users as infrastructure improves and more diverse use cases emerge.
- Creating multiple addresses on blockchains has become cheap and easy, making it hard to determine real user activity from bot activity for airdrop farming.
- a16z used filters to eliminate certain types of addresses that likely belong to bots.
- The VC firm also drew upon wallet usage from MetaMask on the Ethereum blockchain, extrapolating the data to estimate its total market share.
- Based on the data, a16z estimated 30-60 million legitimate users of cryptocurrencies.
- These figures account for just a small percentage of the 220 million active addresses measured in September 2024 and compares to an estimated 617 million global crypto owners.
- Infrastructure improvements and more consumer-friendly applications will be key in onboarding passive crypto holders.
- As a more compelling use case for crypto continues to emerge, the report suggests it could result in a wave of new users hitting the blockchain.
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Altcoinbuzz
2w
160
Cardano CEO Brings Nintendo Games to Hydra
- Cardano CEO, Charles, plans to put a Nintendo emulator on Hydra.
- Hydra is a family of layer 2 protocols designed to enhance Cardano's speed and scalability.
- Playing Nintendo games on Hydra would not require original consoles and would be low-cost.
- Hydra is a decentralized network, allowing gamers worldwide to play without high fees.
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Cryptoslate
2w
419
Image Credit: Cryptoslate
Florida CFO advocates adding Bitcoin to state pension funds for strategic growth
- Florida Chief Financial Officer Jimmy Patronis has urged the State Board of Administration (SBA) to consider adding Bitcoin to the state pension funds.
- Patronis sees Bitcoin as a potential diversification tool and a hedge against volatility in other asset classes.
- He believes that Bitcoin's decentralized nature aligns with Governor Ron DeSantis's stance against central bank digital currencies (CBDCs).
- Patronis has asked the SBA to prepare a report analyzing the feasibility, risks, and benefits of investing state retirement funds into Bitcoin.
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99Bitcoins
2w
4
Florida State CFO Suggests Including Bitcoin In State Retirement Funds
- Florida's Chief Financial Officer Jimmy Patronis has proposed including Bitcoin in the state's retirement funds.
- Patronis believes that Bitcoin could enhance portfolio diversification and serve as a safeguard against volatility.
- He has urged the Florida State Board of Administration to prepare a report assessing the feasibility and potential benefits of investing in digital assets.
- If approved, Florida would join states like Wisconsin and Michigan in investing in cryptocurrencies.
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