The growth has been primarily driven by memecoin mania on the Coinbase L2 blockchain Base. Source: https://cointelegraph.com/news/ethereum-l2-ecosystem-processes-a-record-12-4-m-transactions-in-a-day?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound
Month: August 2024
Memecoin ‘retail mania’ could go the way of ICOs and NFTs, say execs
Memecoins are a great way to attract people to crypto, but the jury’s out on whether they’ll maintain their current momentum. Source: https://cointelegraph.com/news/memecoin-retail-mania-could-go-way-ico-nft?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound
Binance to Convert Delisted Crypto to USDC — Advises Users to Withdraw Affected Tokens Before Deadline
Crypto exchange Binance has announced the conversion of several delisted tokens into stablecoin USDC. Users are advised to withdraw affected crypto tokens by Sept. 1, as they will no longer be accessible afterward. After this date, withdrawals of the delisted tokens will no longer be supported, and users will not be able to transfer them […] Source: https://news.bitcoin.com/binance-to-convert-delisted-crypto-to-usdc-urges-users-to-withdraw-affected-tokens-before-deadline/
Bitcoin sell pressure risk as $1.7B in dormant BTC moves over 2 days
The movement of more than $1.7 billion in “dormant” Bitcoin could lead to downward pressure on Bitcoin in the coming weeks, according to an onchain analyst. Source: https://cointelegraph.com/news/bitcoin-sell-pressure-risk-as-1-7b-in-dormant-btc-moves-over-2-days?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound
Bitfinex Report Examines Bitcoin’s Local Bottom Amid Market Rebound
Crypto exchange Bitfinex’s latest Alpha report examines various key metrics, providing insights into whether bitcoin may be approaching a local bottom. “Overall, these metrics underline the deep bearish sentiment and stress among short-term investors, which usually occurs at local bottoms,” the report states. Bitfinex Report Analyzes Bitcoin’s Rebound and Potential Local Bottom Crypto exchange Bitfinex […] Source: https://news.bitcoin.com/bitfinex-report-examines-bitcoins-local-bottom-amid-market-rebound/
Bitcoin Holders Are Stacking Sats as Price Hovers Above $60,000: Glassnode
While the market continues to digest Bitcoin’s descent to $49,000 last week, signs that users are beginning to build up their Bitcoin are emerging, Glassnode said in a blog post on Tuesday. Bitcoin has faced several headwinds in August including geopolitical tensions in the Middle East, recessionary fears in the U.S., uncertainty around the Japanese yen, and a general risk-off…
Bitcoin Miners Sell Off Bitcoin to Stay Afloat as BTC Price Wavers
The plunge in Bitcoin’s price, combined with a substantial increase in mining difficulty, has Bitcoin miners sweating as they fight to keep their heads above water—with the network’s guardians shifting huge amounts of coins. Figures from blockchain data firm CryptoQuant shows that earlier this month, BTC outflows from miners peaked at 19,000 Bitcoins per day—the highest amount since March. One…
Arthur Hayes Predicts $100K Bitcoin by Year-End — Expects ‘Glorious’ Crypto Bull Market in 2025 With BTC Reaching $1M
Bitmex co-founder Arthur Hayes predicts bitcoin will reach $100K by late 2024 and could hit $1 million by 2025. He attributes this to U.S. Treasury liquidity injections and anticipates a “glorious” crypto bull market in 2025. Hayes has outlined various factors driving explosive growth in bitcoin and broader financial markets. Arthur Hayes Predicts Bitcoin Surge […] Source: https://news.bitcoin.com/arthur-hayes-predicts-100k-bitcoin-by-year-end-expects-glorious-crypto-bull-market-in-2025-with-btc-reaching-1m/
US Bitcoin ETFs ‘on track’ to top Satoshi’s BTC stack soon
United States Bitcoin ETFs have added around 37,510 BTC to their holdings each month on average and could soon surpass Satoshi Nakamoto’s estimated stash. Source: https://cointelegraph.com/news/us-bitcoin-etfs-on-track-to-top-satoshi-s-btc-stack-soon?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound
‘AI Scientist’ Aims to Automate Scientific Discovery
Tokyo-based R&D company Sakana AI has released “The AI Scientist,” an AI system designed to fully automate scientific research. The company claims this system is the first of its kind, capable of handling multiple aspects of the research process independently. In its research paper, published Monday, the team says its approach “generates novel research ideas, writes code, executes experiments, visualizes…