Author: Sollcrypto
In 2023, Bitcoin (BTC) miners have been accumulating a daily average of $2 million in transaction fee revenue, as per data sourced from Coinmetrics. This figure represents a remarkable 400% surge compared to the averages observed in the previous year. Bitcoin miners experience a year-over-year increase in revenue. In a December 23rd post on X (formerly Twitter), Jameson Lopp, Co-founder and CTO of Casa, a BTC self-custody solutions company, reported that Bitcoin miners amassed revenue surpassing $10 billion in 2023, contributing to the cumulative total of $57 billion over the past 15 years. In the post, Lopp considered the possibility…
The price of Dogecoin (DOGE) has experienced a slight dip of 0.77%, reaching $0.09309. This decrease in value seems to be affecting overall market sentiment as the coin strives to conclude the month on a positive note. Despite this mild bearish trend, Dogecoin’s profitability has reached its pinnacle for the year, standing at an impressive 66.86%, as reported by IntoTheBlock. Analyzing the data, it is revealed that 3.56 million addresses are currently in a profitable position, with approximately 1.4 million addresses experiencing losses. Notably, this level of profitability marks the highest recorded in 2023 for Dogecoin, following extended periods of…
The current Bitcoin chart displays a double-top formation pattern, drawing our focus due to its significance. This pattern is noteworthy as it frequently indicates a potential reversal after a robust upward trend, implying that Bitcoin’s recent surge in the market might be at a crucial juncture. A double-top pattern materializes when the asset’s price reaches a peak, experiences a slight retracement, and then ascends again to the previous peak without surpassing it, forming two distinct peaks at a similar price level. Given Bitcoin’s remarkable ascent, surpassing expectations and gaining substantial value, this pattern suggests a potential slowdown in its momentum.…
Mags, a pseudonymous long-term holder and trader of Bitcoin (BTC), has firmly stated that those anticipating BTC to dip to $12,000 will be in for a perpetual wait. According to the analyst, Bitcoin has surpassed its bottom and successfully navigated through its re-accumulation phase. Mags’ shared chart indicates that the coin is in the early stages of the bull market. Additionally, through the chart analysis, Mags expresses the belief that BTC has the potential to surge towards the $160,000 mark when the bull phase gains full momentum. Bears have faced disappointment. Mags’ perspective was a response to fellow trader Capo…
In a remarkable twist, the Solana token (SOL), once touted as the “Ethereum killer” over two years ago, has further solidified its standing by registering an extraordinary 300% surge against Ethereum (ETH) in recent months. The cryptocurrency market has undergone a paradigm shift as SOL’s value witnessed a staggering 440% increase, reaching a peak of $118.3 — a milestone not reached since April 2022. During this period, the SOL/ETH price chart displayed an unprecedented ascent, reaching 0.051 ETH per Solana token. This surge hasn’t been witnessed since December 2021, and the trend shows no indication of slowing down. Significantly, while…
Billy Markus, the creator of Dogecoin, also known as Shibetoshi Nakamoto, has sparked an unusual competition between Ethereum and Solana. In a recent announcement, Markus posed a provocative question to the crypto community: “Solana (SOL) or Ethereum (ETH) – which is superior? My stance on the matter is influenced by whichever community is more generous with tips!” He shared his wallet addresses for both platforms and awaited the community’s response. The reaction was rapid and impressive. In just five hours, Markus accumulated over $10,000 in various cryptocurrencies. His Ethereum wallet received $8,200, predominantly in ETH, making up 88% of the…
The widely-followed blockchain tracker, Whale Alert, known for monitoring substantial cryptocurrency transfers and sharing details on Twitter/X with the community, has disclosed that an Ethereum wallet dormant for nearly nine years has recently become active again.Inactive Ethereum Inactive Ethereum whale reawakens, holding thousands of ETH. The mentioned source has identified a pre-mined Ethereum address holding 11,640 ETH valued at $26,489,720 that has reactivated after 8.4 years, indicating its last usage in late 2014 following the completion of Ethereum’s initial coin offering fundraising. Subsequently, the whale has initiated the transfer of 500 ETH to a newly generated wallet. This transaction has…
The primary developer within the Shiba Inu ecosystem has contended that the elimination of 99.9% of Shiba Inu’s circulating supply is a feasible proposition. In a recent social media post, Shytoshi Kusama, the mysterious figure leading the Shiba Inu development team, conveyed the notion that reducing Shiba Inu’s current circulating supply to 0.1% of its existing magnitude is an achievable vision. This bold statement emerged during a conversation with a Shiba Inu critic, taking place against the backdrop of Shibarium’s notable positive metrics, boasting transactions reaching an unprecedented 150 million. In response to Shibarium’s success, the Shiba Inu critic sarcastically…
A well-known cryptocurrency analyst recently proposed that Ethereum ($ETH), the second-largest cryptocurrency by market capitalization, might experience a substantial surge of nearly 60%, reaching $3,500. This surge is expected to occur after Ethereum breaks out of a significant accumulation zone. As per a post shared by the prominent cryptocurrency analyst Ali Martinez on the microblogging platform X (formerly known as Twitter), Ethereum is presently undergoing a retest of its breakout zone within an ascending triangle, indicating the potential for continued upward movement. According to Martinez, the range between $1,900 and $2,150 is deemed an optimal accumulation zone before the cryptocurrency…
The momentum in Bitcoin’s price is building as it surpasses the $44,000 resistance. Further upward movement is anticipated once it successfully clears the hurdles at $44,500 and $45,000. Bitcoin initiated a notable ascent, breaking through the $43,500 resistance zone.The price is currently above $43,500 and the 100-hourly Simple Moving Average.On the hourly chart of the BTC/USD pair (data feed from Kraken), a crucial bullish trend line is taking shape, offering support around $43,800.A robust upward rally could be in the cards if Bitcoin achieves a close above the levels of $44,300 and $44,500. Bitcoin Price Targets Further Upside Bitcoin’s price…