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Tag Archives: ETHBTC

Bitcoin’s Price Could Surpass $1 Million in the Next Decade, Says ARK Invest

A research team of the American investment management firm ARK Invest envisioned a highly optimistic future for bitcoin. According to them, the price of a single coin could surpass $1,000,000, and the asset’s market capitalization might reach $28.5 trillion by 2030. Bitcoin to Peak at Over $1 Million The Nasdaq-listed company ARK Invest, led by Catherine Wood, has been an advocate of the cryptocurrency industry for a while, especially bitcoin. In July last year, the...

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Ethereum Price Analysis: ETH Eyes Next Critical Support After Reaching 6-Month Low

The Friday crash had driven ETH below $2,500, wicking at $2,300 – a price not seen since July 2021. Key Support levels: $2,300, $2,000. Key Resistance levels: $2,500, $2,750, 3,000 This week’s market carnage was not kind to ETH, which recorded a daily close below $3,000 for the first time since the end of September. Furthermore, ETH saw a low of $2,300 on Bitstamp, at the peak of the collapse. Since yesterday, ETH was able to rebound till encountering the $2,500 support...

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Market Watch: Cryptocurrencies See Double-Digit Drops After Wall Street’s Friday Bloodbath

The bears continue to have complete control over the cryptocurrency market with numerous double-digit price losses from almost all assets. This comes just hours after the US stock market dumped in value again. Bitcoin Dumps $8K in Two Days It’s safe to say that the primary cryptocurrency has seen better days. In fact, they weren’t all that long ago as the asset jumped to $43,500 on Thursday following a $1,500 price hike. However, the situation changed vigorously hours later....

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Bitcoin Loses $40K, Ethereum Below $3K: This Red Week’s Crypto Recap

To say that the past seven days were bad in the cryptocurrency market would be kind of an understatement. Most of the coins are down by solid double digits as the total capitalization lost around $250 billion and fell below $2 trillion. Let’s start with Bitcoin. The cryptocurrency was behaving relatively well throughout most of the week, and it even managed to reach above $43K earlier on Thursday, attempting to conquer the resistance above that – at $44K. On Friday, though,...

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Lucky ETH Miner Receives a Block Reward Worth $540K

An individual Ethereum miner who mined a complete block hit the jackpot by receiving 170 ETH for his efforts. Converted in USD value, the reward equals nearly $540,000 (calculated by the time when the block reward was mined). Beating the Odds Despite some people claiming that Ethereum mining (still being proof-of-work) is harmful to the environment, the process is still thriving, and even single individuals are constantly trying their luck to mine blocks on their own. One...

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Nexo Tapped Bakkt as its Cryptocurrency Custodian Partner

The cryptocurrency lending platform – Nexo – joined forces with the Nasdaq-listed digital asset company – Bakkt Holdings. As a result, the latter will custody a portion of Nexo’s Bitcoin and Ethereum holdings in the Bakkt Warehouse. Bakkt’s Newest Partnership The Bakkt Warehouse comprises both online (“warm”) and offline (“cold”) digital asset storage. The company balances between the two tiers to minimize risks associated with cryptocurrency custody services. In a recent...

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NYC Mayor to Receive First Paycheck In Bitcoin And Ether

Eric Adams – newly elected mayor of New York City – is following through on his promise to receive his first paycheck in Bitcoin. Some of his salary will even be converted to Ether – the second-largest cryptocurrency. The Paycheck Promise The City of New York confirmed the payment decision from its official site earlier today. The Mayor’s paycheck will automatically be converted into Bitcoin and Ethereum when he receives it tomorrow. In November, Miami Mayor Francis Suarez...

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ESMA Top Executive: The EU Should Ban Proof-of-Work Mining

The vice-chair of the European Securities and Markets Authority (ESMA) – Erik Thedéen – urged the EU financial regulators to prohibit the cryptocurrency mining model known as proof-of-work. He also claimed that bitcoin has turned into a “national issue” for his homeland Sweden because of the amount of renewable energy devoted to mining the asset. ‘The Solution Is to Ban Proof-of-Work’ In a recent interview for the Financial Times, Erik Thedéen (also Director-General of...

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On-Chain Data Shows Number of ETH Holders At All-Time High

The number of Ethereum addresses holding ETH is at an all-time high. Meanwhile, transaction count on the network remains near record highs, showing that user activity continues to grow. According to on-chain data, Ethereum addresses holding a balance now total over 68.26 million. This number seldom declined despite a rocky price history last year, maintaining steady growth besides the June to August period. Transactions are also trending upward, with the number of daily ETH...

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Ethereum Price Analysis: ETH’s Sideways Chop at $3.3K Continues as Market Remains Indecisive

Key Support levels: $3,000, $2,750 Key Resistance levels: $3,600, $4,000 ETH has been in a flat trend around the $3,300 level for some time now, unable to rally or go much lower. A strange equilibrium between market forces has kept the cryptocurrency at this level for the past week. The support at $3,000 has not been retested, nor was the resistance at $3,600 put under any pressure. The result is a sideways price action that shows indecision. Chart by TradingViewTechnical...

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