$BTC daily

2023-03-01 01:23:44 Bitcoin's Blockchain Growth Accelerates With Trend of Ordinal Inscriptions


The Bitcoin blockchain has 40.49 gigabytes (GB) to go until it reaches half a terabyte (TB), and with the recent trend of Ordinal inscriptions, it’s likely to get there faster. The average block size reached a high of 2.52 megabytes (MB) on Feb. 12, 2023, but block sizes have subsided and dropped to an average of 1.634 MB by Feb. 27. Still, the blockchain grew at a rate of 0.288 GB per day, compared to the previous rate of 0.173 GB per day recorded before the Ordinal inscription trend began.

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2023-02-28 18:58:49 Ark Invest Expects Bitcoin to Become a Multitrillion-Dollar Market

Investment management firm Ark Invest says bitcoin is “likely to scale into a multi-trillion dollar market.” In its new report, the firm offers three bitcoin price predictions, including a bull case where bitcoin could rise to $1.48 million per coin. Ark Invest CEO Cathie Wood sees bitcoin.

Ark Investment Management (Ark Invest) published its annual Big Ideas 2023 last week. The report “highlights the technological breakthroughs evolving today and creating the potential for super-exponential growth tomorrow,” Ark Invest’s analysts explained. The topics discussed in the report include artificial intelligence (AI), digital wallets, public blockchains, bitcoin, and smart contract networks.Bitcoin’s value propositions: decentralization, auditability, and transparency.

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2023-02-28 11:47:36 Bitcoin miner Argo Blockchain's CEO Peter Wall steps down

Peter Wall is stepping down as CEO and interim chairman of Argo Blockchain to "pursue other opportunities." Wall has agreed to remain as an advisor to Argo over the next three months to support the transition. Matthew Shaw has been appointed chairman of the board.

The publicly listed miner will use an executive search firm to help find a long-term replacement for Wall. In addition to Wall's departure, non-executive director to the board Sarah Gow has resigned due to health reasons. She had been on the board since July 2021. These departures follow the exit of the company's CFO, Alex Appleton, who left at the beginning of February. Appleton also said he is leaving to "pursue other opportunities," a filing shows. Argo panicked the market by accidentally publishing drafts of posts.

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2023-02-28 01:10:48 Artificial Intelligence Crypto Assets Continue to Surge, Accounting for $4 Billion in Market Value

Following a brief downturn in mid-February 2023, artificial intelligence (AI) crypto assets have continued to see gains over the last 30 days. Currently, out of 74 listed AI-focused cryptocurrencies, the net value of all these tokens has risen to more than $4 billion, which accounts for 0.37% of the entire crypto economy’s value.

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2023-02-27 17:07:36 Kraken move should put crypto industry 'on notice,' Gensler says

Securities and Exchange Commission Chair Gary Gensler sent another warning shot to the crypto industry this morning, just a day after the regulator said it settled with the Kraken exchange over allegations surrounding its staking program. Those other platforms should take note of this and seek to come into compliance.

The SEC said Thursday that crypto intermediaries needed to provide "proper disclosures and safeguards required by our securities laws" when offering services such as lending or staking. Kraken subsequently agreed to end its on-chain staking services for U.S. clients only without admitting or denying the allegations. “This really should put everyone on notice in this marketplace whether you call it lend, whether you call it earn, whether you call it yield, whether you offer what’s called an annual percentage yield, APY,” Gensler said on CNBC.

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2023-02-27 14:13:55 Iceland Emerges as the Most Stable Bitcoin Mining Jurisdictions

Iceland’s climate provides natural cooling to heat-producing mining operations, significantly reducing maintenance costs.One European country has emerged as the world’s largest hash rate producer per capita. Owing to cheap electricity, Iceland is one of the first countries to see industrial-scale Bitcoin mining.

According to Bitcoin mining researcher Jaran Mellerud, the country’s entrepreneurial locals can also be attributed to the growth of the sector. The Icelandic bitcoin mining industry is estimated to consume nearly 120 MW, equating to a share of 1.3% of the global hash rate production. Considering the fact that Iceland has a population of only 370,000, it is the biggest hash rate producer per capita. One crucial advantage, as pointed out by Mellerud, is the fact that the Artic nation’s electricity system is in total isolation from the rest of the world.

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2023-02-27 01:31:46 Market Strategist Michael Wilkerson Believes US Inflation Could Rise to 12% by Year-End Despite Predictions of Decrease

While several market strategists and analysts expect U.S. inflation to drop considerably in 2023 compared with last year, Michael Wilkerson, founder of Stormwall Advisors, thinks the inflation rate could climb as high as 12% by the end of this year. The country’s inflation rate has cooled down over the past seven months, but Wilkerson insists that the U.S. Federal Reserve “is going to run out of firepower.”

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2023-02-26 18:17:14 Bitcoin miner Iris Energy posts $144 million net loss

Iris Energy posted a net loss of $144 million, mainly due to a $105.2 million non-cash impairment charge in part related to its equipment financing, and said it mined fewer bitcoin in the quarter ending in December. topping the $13.3 million average estimate of analysts compiled by FactSet.

Shares of Iris Energy were lower in post-market trading after closing up by 67% during the regular session. “2022 was a challenging year for the digital assets industry as well as broader equity markets,” said Daniel Roberts, co-founder and co-CEO of Iris Energy. "Looking forward, we believe we are well positioned to capitalize as markets continue to improve.". The company recently announced plans to scale its hashrate back up after unplugging about 3.6 EH/s worth of machines in November.

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2023-02-26 15:08:38 Bitcoin on-chain data highlights key similarities between the 2019 and 2023 BTC price rally

Bitcoin’s recent price rally from $16,500 to $25,000 can be attributed to a short squeeze in the futures market and recent macroeconomic improvements. However, while prices increased, data suggests many interested buyers (including whales) were left on the sidelines.

The recent rally to $25,000 shared many similarities with the 2019 bear market rally, which saw a 330% surge in Bitcoin’s price to highs around $14,000 from the November 2019 low of $3,250. The BTC/USD pair recently rose 60% from its November 2022 low. On-chain and market indicators relative to the 2019 rally send mixed signals on whether or not Bitcoin’s rally will continue. Nevertheless, there are strong reasons to believe that the market has reached a crucial turning point where it can either turn into a full-fledged bull market.

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2023-02-26 00:26:49 BUSD Stablecoin Drops from Top 10 Crypto Assets Amid Significant Decrease in Dominance

After Paxos announced that it would no longer mint the stablecoin BUSD, 4.98 billion BUSD stablecoins have been removed from circulation to date. The Paxos-managed stablecoin has also fallen out of the top ten crypto assets by market capitalization, slipping below dogecoin’s valuation with a market cap of around $11.12 billion, compared to the meme coin’s $11.24 billion.

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