Crypto Currencies World

  What Is Bitcoin? Bitcoin is the first-ever decentralized global digital currency. Among other things, this means that it is entirely computerized and doesn’t exist in a physical form. Bitcoin can be sent quickly and securely from anywhere in the world, and you only need an internet connection. Its price is determined by the free market, subject to supply and demand. Built on a decentralized network, it operates free of any central control, including but not limited to bank or government oversight. It relies on open-source and peer-to-peer software and cryptography. Known as blockchain, this technology is also fully transparent and immutable. Any changes to it can only happen following a majority consensus. The consensus algorithm that powers Bitcoin’s blockchain (also called distributed ledger technology) is called Proof of Work. The cryptocurrency can be stored in digital addresses that are spread throughout the Internet. To mak...

The MOU between Circle and HKT will explore blockchain applications in loyalty programs for Hong Kong consumers. Stablecoin issuer Circle announced on Tuesday that it had signed a Memorandum of Understanding (MOU) with HKT, a major player in technology, media, and telecommunications. The main objective of this collaboration is to explore opportunities for creating blockchain-based loyalty solutions tailored to Hong Kong’s merchant landscape. Circle-HKT Collaboration According to the  blog post , Circle’s expertise in Web3 services, combined with HKT’s merchant network and customer engagement resources, will allow the two companies to develop Web3-powered loyalty solutions to improve consumer interactions with merchants, potentially creating more interactive engagement experiences. In an official statement, Jeremy Allaire, co-founder and CEO of Circle, said: “We are excited to collaborate with HKT to bring our Web3 Services to the forefront of customer loyalty innovation. This ...

Bitcoin flirts with an all-time high, leaving more than $100 million worth of shorts liquidated. Bitcoin’s price seems to be on the verge of achieving a new all-time high in a massive rally leading up to the US Presidential elections. The price managed to get as high as $73,600, which is less than $200 away from a new peak. Source: TradingView This has caused considerable turmoil in the derivatives market, leaving over $110 million worth of short positions underwater. At the time of this writing, the price has now retraced below $73,000, trading at an increase of over 4.2% during the past 24 hours alone. It’s also worth noting that the total trading volume for spot Bitcoin ETFs in the US today reached a whopping $3 billion. This rally comes days before the country’s most important political event: the presidential elections, which are scheduled for November 5th. As  CryptoPotato  reported  earlier today, volatility is somewhat expected amongst market participants, given t...

“Big things are on the way for Shiboshis on Shibarium, bringing new opportunities and exciting ways to engage,” LUCIE said." TL;DR Shibarium is set for a new upgrade promising exclusive events, rewards, and enhanced utility for future expansion. SHIB rallied 9.5% daily as meme coins gain momentum, with other top performers including DOGE, WIF, and PEPE. ‘Big Things on the Way’ Shiba Inu’s layer-2 blockchain solution  –  Shibarium  – saw the light of day  last summer with the main purpose of fostering the ecosystem’s development. Since then, it has completed multiple achievements and  underwent  numerous upgrades. Most recently, LUCIE (Shibarium’s Marketing Strategist)  revealed  that another advancement is  on the way . It aims to bring new opportunities for users, such as exclusive events and rewards. The upgrade will also enhance the utility of the L2 network and allow for future expansion. “Shiboshis will play a part in future expansions a...

   Here’s what needs to happen for XRP’s price to explode. Despite recent declines, one analyst predict a possible XRP breakout to $7.50 by the end of 2024. Increasing XRP transactions, new account activations, and payment volumes suggest heightened demand and user engagement, potentially adding upward price pressure. XRP Breakout Coming Soon? The cryptocurrency market has been booming in the past few days, with Bitcoin (BTC) briefly soaring above $71,000 and Dogecoin (DOGE)  skyrocketing  to a five-month high of almost $0.17. However, some assets, like Ripple’s XRP, have not caught the green wave. It currently trades at around $0.52, representing a weekly decline of 4%. XRP Price, Source: CoinGecko Its poor performance could  be linked  to the fresh doze of uncertainty triggered by the prolonged lawsuit between Ripple and the US Securities and Exchange Commission (SEC). Recall that the agency officially  appealed  a 2023 verdict set by Judge Torr...

Bitcoin is less than 3% away from a new all-time high, while meme coins such as Dogecoin are popping left and right.  The cryptocurrency market has increased substantially in the past 24 hours, with its total capitalization reaching $2.5 trillion. This comes on the back of gains across the board. Most notably, BTC’s price soared above $71,000 as the bulls are now eyeing a new all-time high. Bitcoin Bulls Eye All-Time High Bitcoin’s price took off throughout the past 24 hours. What is interesting is that during the past day, 12 hourly candles in a row closed in the green, accelerating the cryptocurrency and pushing it a lot closer to its former all-time high. At the time of this writing, BTC is trading above $71,000, a point last seen in June this year. The buyers seem eager to achieve a new high. This move comes just a few days before the upcoming US Presidential elections, which are scheduled for next week, November 5th. Source: TradingView Although both candidates have shown some...

DOGE increased its dominance against the other meme coins, with its market cap jumping to almost $25 billion. TL;DR Dogecoin’s price surged to a five-month high, likely fueled by Elon Musk’s social media interaction and discussion of a potential “Department of Government Efficiency (DOGE)” initiative. Despite bullish sentiment, the asset’s RSI at 78 suggests it may be overbought, raising the potential for a short-term correction. DOGE’s Bull Run The  biggest  meme coin in terms of market capitalization continues its impressive performance. Its price spiked by over 15% in the past 24 hours, currently trading at $0.1646 (per CoinGecko’s data). Several hours ago, DOGE reached almost $0.17, the highest mark observed since the end of May this year.  DOGE Price, Source: CoinGecko Its rally could  be attributed  to Elon Musk’s interaction on X. On October 28, Tesla’s CEO  posted  an  interesting  picture depicting him flexing during a public speech....

 Miners have accumulated as much BTC as possible post-halving, indicating an incoming price rally to new heights. Bitcoin (BTC) has struggled below the $70,000 price for over four months. Even the much-lauded “Uptober” failed to bring it above it for quite a while, until yesterday. However, a CryptoQuant analyst projects that the current metric on the Miners’ Position Index (MPI) will significantly aid Bitcoin’s price gain to incredible heights between this year’s ending and next year. How Miners Are Fueling the Next Price Gain Bitcoin miners verify new transactions, add them to the network, and create new bitcoins by solving cryptographic problems. Entities interested in operating a mining node must set up the equipment required for the job. Historically, Bitcoin miners tend to sell portions of their BTC stash to cover operational costs before the Bitcoin halving occurs. This quadrennial event downsizes the number of BTC produced in each block by half. The most recent ha...

Ardoino detailed USDT’s reserve breakdown, countering claims about insufficient asset backing and alleged connections to sanctioned entities.  Tether CEO Paolo Ardoino has disclosed details about the stablecoin issuer’s reserves, revealing that it holds $5.58 billion in Bitcoin (BTC), $3.87 billion in gold, and approximately $100 billion in U.S. Treasury bonds. This breakdown comes as the company faces allegations of a federal investigation in the U.S. and renewed questions about its reserve backing. Reserve Breakdown During the PlanB event in Lugano, Switzerland, where the company unveiled a Satoshi Nakamoto statue, the CEO disclosed that Tether’s reserve includes 82,454 BTC and 48.3 tons of gold. A slide from the presentation, later  shared  by Uquid CEO Tran Hung on X, caused some online discussion. One user  questioned  whether these assets were sufficient to fully support USDT’s recently recorded $120 billion market cap. Responding to the online s...