Ethereum News Official TheBitTimes.com

On Wednesday, April 19, the crypto market noted a flash crash. Within minutes, assets like Bitcoin and Ethereum noted significant haircuts in their respective valuations. Owing to the same, the aggregate crypto market cap dropped to $1.22 trillion. As shown below, Bitcoin registered quite a large candle on its hourly chart. On both the spot market and the perpetual market, the asset shed 3% of its value in the time frame and dropped to new local lows. In the former market, BTC stooped to $29k, while in the latter, it sunk down further to $28.8k. In both cases, Bitcoin’s sell volume of around $30k spiked up, likely triggering the drop in price. BTC/USDT by TradingView When zoomed out further, it can be noted that such a large spike in sell-side volume was last noted in mid-March prior, in both the spot [left] and perpetual [right] markets. Bitcoin Buying Selling Volume by TraidngView At the moment, the community saw this move coming and had been talking about it o...

In a statement issued today, White House economist, Jared Bernstein says there is “some evidence” that China wants to weaken the US dollar. Moreover, Bernstein noted the efforts are aimed at diminishing the strength of the dollar as an international reserve currency. Bernstein urged Congress to address the ongoing debate surrounding the US debt ceiling. Subsequently, protecting the value of the dollar amidst the campaign by BRICS nations to lessen its value. JUST IN: White House says there's evidence that China wants to weaken the US dollar. — Watcher.Guru (@WatcherGuru) April 18, 2023 White House Addresses Attempts to Weaken US Dollar The US dollar has been a constant headline for the past few weeks. Specifically, due to the BRICS collective of countries seeking to do away with the currency with regard to internal trade. Consequently, the US White House says there is evidence that China wants to weaken the US dollar.  Specifically, White House Econom...

Zero-knowledge (zk) technology has seen major growth in adoption within the blockchain space in 2023, according to an inaugural quarterly report published by zkValidator. A quarterly report focused on zero-knowledge (zk) technology indicates that privacy, scaling and identity solutions are major drivers of adoption in the blockchain space. Validator service provider zkValidator report's titled 'The State of ZK' delves into insights from the zk space, highlighting major and emerging use cases, research, product launches and notable investment rounds. The key takeaway focuses on use cases of zero -knowledge proofs. The cryptographic method allows one party to verify data or a statement without exposing the information itself. Privacy stands out as the most significant drive r of Adoption from the industry at 12.90%. Scaling is the second most prominent use case for zk technology with 9.46% interest. Identity solutions and new zk use cases rank third and fourth, indicatin...

The latest Solana rally has had it return to the resistance range that prompted 25-40% price pullbacks multiple times this year. On April 17, the price of Solana (SOL) crept lower in the wake of similar price moves across the top-ranking cryptocurrencies, including Bitcoin (BTC) and Ether (ETH). SOL's price dropped over 4% under $24.50 despite rising to $26 — a two-month high — earlier in the day. In comparison, BTC's and ETH's prices dropped 3.5% and 3%, respectively, hinting at a bearish start to the week. SOL/USD hourly price chart. Source: TradingView SOL price in a technical correction The SOL/USD selloff on April 17 started after it entered its 2023 resistance range. Notably, the $25-27 price area has capped Solana's upside attempts since January 2023. Testing it as resistance has preceded 25-40% corrections on multiple occasions this years, as illustrated below. SOL/USD daily price chart. Source: TradingView The possibility of undergoing a sharp bearish reversal...

Chainlink (LINK), Arbitrum (ARB), Aptos (APT), Binance Coin (BNB), and Injective Protocol (INJ) constitute the top altcoins to watch for profitable trades, according to crypto personality Altcoin Sherpa. Sherpa’s review builds upon the price behavior of the altcoins, supported by technical indicators based on the historical behavior of the altcoins. Source: https://thebittimes.com/analyst-projects-link-arb-apt-bnb-inj-for-profitable-trades-tbt44126.html?utm_source=blogger_source&utm_medium=blogger_medium&utm_campaign=blogger_cam Category: Cryptocurrency News Post by: TheBitTimes.com

After taking diversity concerns into account, Sotheby’s has revamped its Glitch digital art sale. Meanwhile, a newcomer to the online game Illuvium: Beyond has struck gold by discovering the rarest Illuvitar yet. Digital art auction house Sotheby’s has altered its latest art sale significantly after receiving community feedback regarding a lack of diversity, meanwhile a novice player in Illivium: Beyond has made a staggering profit of 140,525% by finding the most elusive character in the game yet. Sotheby’s reboot Glitch Digital Art Sale after addressing diversity concerns Digital art house Sotheby’s have announced that bidding for its upcoming digital art sale “Glitch: Beyond Binary” will open on April 19. This is a reboot of last month’s “Natively Digital: Glitch-ism” auction which was temporarily paused due to critism over its lack of diversity. In an April 13 tweet, Sotheby’s announced the art sale, stating that it will “highlight the diverse artist communities that make up Glitc...

At the halfway point of April, bitcoin has risen beyond the $31,000 point for the first time in ten months. This rise in bullish sentiment comes as global inflation continues to fall, with many expecting central banks to soon pivot from current policies of monetary tightening. Current Market Status April started mostly with consolidation, as traders continued to digest the last month’s banking crash, and Federal Reserve 25 basis point rate hike. However, following the non-farm payrolls report, which dropped to 236,000 in March, down from 326,000 the month prior, bulls began to reenter the market. Since then, inflation data has also been released, with consumer prices in China falling to an eighteen-month low, which pushed bitcoin back above $30,000. In the United States, prices have also dipped, falling to 5% in March, with retail sales, also edging lower. April Outlook These factors have so far helped bitcoin, and led to prices moving above $31,000 for the first t...

Bitcoin and Ethereum lead a wave of excitement over future crypto gains, with analysis concluding that the "bottom is in." Bitcoin (BTC) broke through $31,000 on April 14 as bulls hoped that altcoins would soon follow. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Analyst eyes potential dip under $30,000  Data from Cointelegraph Markets Pro and TradingView captured new ten-month highs of $31,035 for BTC/USD on Bitstamp. The pair had risen gradually the day prior after a consolidatory period around new macroeconomic data prints from the United States. These had furthered the bullish risk asset narrative, with both the Consumer Price Index (CPI) and Producer Price Inflation (PPI) prints showing inflation slowing faster than expected. While Bitcoin did not react immediately, the latest uptick reinforced market participants’ convictions over continued strength and a break with the long-term downtrend. “ Bitcoin looks strong, but will have some shallow corrections i...

Ethereum, the blockchain underpinning the second-biggest cryptocurrency ETH, successfully implemented its much anticipated ‘Shanghai’ upgrade on Wednesday.  The update, also known as ‘Shapella’, enabled validators to withdraw staked ETH for the first time, and brought Ethereum significantly closer to the completion of its multi-year transition to a full proof-of-stake network. In a proof-of-stake system, users pledge coins as a form of guarantee to help validate new data on the blockchain in return for rewards, a process called staking. Prior to Wednesday’s update, it was not possible to withdraw staked ETH or redeem accrued rewards. Staked ETH currently accounts for about 15% of the total supply of Ether tokens, according to crypto data platform Dune Analytics, and are worth approximately $31 billion. ETH is up 2.28% in the last 24 hours, so far defying expectations of a post-upgrade ‘wave of selling’ that would depress its price. Speaking at a launch event streame...

Join Our Telegram channel to stay up to date on breaking news coverage The volatility of the cryptocurrency space is moving people to invest in presales. And when the presales have great fundamentals, investing in them has major upsides for early movers. RenQ Finance is one such asset. Even though it is currently being offered as a presale, CoinMarketCap already had an option ready for it when the token makes it to the listing charts. And most of the current experts are bullish about this crypto. They say that RenQ Finance can leverage its cross-chain DeFi fundamentals to become more valuable than the likes of Bitcoin and Ethereum. What has RenQ Finance got to turn up the Crypto Crowd? There have been multiple presale cryptocurrencies in the past. And even this year, the market is full of ICOs, and IEOs bring great fundamentals and provide early moving opportunities. But there haven’t been many projects that have gotten as much interest as RenQ finance. Most leading pub...

The BTC mining firm projects its mining power will reach 16 EH/s by the end of the year. On Apr. 11, American Bitcoin (BTC) miner CleanSpark announced that it purchase d 45,000 Ant miner S19 XP application-specific integrated circuit (ASIC) mining rigs for $144.9 million. CleanSpark says all units will be ready for delivery by Ant miner before the end of September. The purchase is expected to add 6.3 exahash per second (EH/s) of mining power to its rig, which currently possesses a capacity of 6.7 EH/s. After the purchase, the firm's expected hash rate will account for an estimated 3.8% of the entire Bitcoin network. Zach Bradford, CEO of CleanSpark, commented:  "The Antminer S19 XP is the most power-efficient bitcoin mining machine available in the market today, and a key component in our continuing work to build some of the most efficient bitcoin mining facilities in the country." 25,000 of the 45,000 ASICs will be delivered in August, while the remaining 20,000 un...

Bitcoin has finally breached the psychological $30,000 level. This feat has been achieved by the king-crypto for the first time since June 2022. BTC has recaptured the price range after 10 months. BREAKING: $30,000 #Bitcoin — Watcher.Guru (@WatcherGuru) April 11, 2023 As depicted in the chart below, Bitcoin has completed a parabolic recovery. It registered a local bottom at $15,470 in November 2022. Since then, there have been gradual inclines coupled with brief consolidations. The momentum flip at the beginning of this year, eased things further for BTC. In fact, investors fetched a modest 71.77% return throughout Q1 2023. Bitcoin had been trading above all its crucial EMAs since mid-March. That set the tone for it to break above $30,000. BTC/USDT by TradingView At this juncture, it is worth noting that Q2 has proven to be investor-friendly for Bitcoin holders. In fact, as analyzed in an article recently, BTC has fetched triple-digit returns during this quarter on a ...

Crypto Banter’s Ran Neuner believes that decentralized autonomous organizations (DAO) are a fundamental concern for the crypto industry, taking to Twitter to voice the same. As an internet-native organization, DAOs serve as a legal structure with no central authority where community members use smart contracts to make decisions and vote on proposals. One of my biggest concerns in crypto is DAO’s. It’s a fundamental concern – Here is why; Historically we know that decisions taken by a voting process have a high probability of being swayed towards the mass vote. 1/n — Ran Neuner (@cryptomanran) April 9, 2023 Ran Neuner, who is popular as a trader among crypto circles, recently took to Twitter to list his concerns with DAOs and their role in the crypto space. Neuner pointed out that it is difficult to sway the “average masses” toward a particular side of the spectrum when using the voting process associated with DAOs, which is used by members to decide on governan...

Join Our Telegram channel to stay up to date on breaking news coverage The ChatGPT artificial intelligence program appears to have chosen a side in the age-old argument between bitcoin and gold as a wise investment. The well-known generative text engine is hailed by financial analyst Peter Schiff for allegedly favoring gold.  After all, “AI is pretty intelligent,” he wrote in a tweet on Wednesday. It did not advise investing in Bitcoin. Instead of Bitcoin, ChatGPT opts to add gold in its “recession-proof” portfolio The investor cited a story from the previous week that discussed ChatGPT’s notion of a “recession-proof” portfolio. According to the document, which was printed in “Gold IRA Handbook,” ChatGPT advised a 20% allocation to gold and other precious metals to lessen the effects of any single market slump. Without mentioning Bitcoin, the rest of its fictitious portfolio was made up of bonds (40%) “conservativ...

Join Our Telegram channel to stay up to date on breaking news coverage Magic Eden, the digital marketplace for non-fungible tokens, has announced plans to launch Bitcoin launchpad this week. The new NFT launchpad appeared amid the rise in the adoption of Bitcoin Ordinals, which has topped over 1 million. Magic Eden Launches Bitcoin NFT Launchpad In an April 7 blog post, Magic Eden NFT marketplace confirmed plans to launch its Bitcoin NFT launchpad. The new launchpad is a sales platform for creators who have inscribed their artworks or media to the Bitcoin blockchain. Launchpad Roundtable 🪄✨ Join us as we chat with our upcoming Launchpad projects! We’ll have some special co-hosts joining us as well! 👀 – @unstoppableweb – @The_Normies_NFT – @genopets – @PolygonBoyz – @Enter_Realm – @metastargame Set Reminder: https://t.co/qWucEZODoq pic.twitter.com/0xjSVa5TMJ — Magic Eden 🪄 (@MagicEden) April 7, ...