Author: Sollcrypto
During an October 6th episode of The Joe Rogan Experience podcast, OpenAI CEO Sam Altman described Bitcoin (BTC) as a “highly rational” progression on the technological landscape, offering independence from government influence while aiding in the battle against corruption. “I’m enthusiastic about Bitcoin,” Altman conveyed to Joe Rogan. During his extensive conversation with Joe Rogan, the head of OpenAI shared his views on Bitcoin potentially becoming a global reserve currency and expressed his reservations regarding central bank digital currencies (CBDCs). Altman, who additionally founded Worldcoin, suggested that the transition to a “technology-powered world,” inclusive of Bitcoin, might play a role…
Introduction The cryptocurrency market, despite its relatively short history, has seen its fair share of patterns and recurring trends, particularly when it comes to Bitcoin halving events. Changpeng Zhao, widely known as CZ and the CEO of Binance, has recently shared his insights and past encounters with the dynamics and emotions typically associated with these highly anticipated occurrences. While he acknowledges the challenges of predicting the future, CZ reflects on his observations from the three previous Bitcoin halvings. The Excitement and Hype Leading Up to Halving Events Increased Discussions and Anticipations In the months preceding a Bitcoin halving, the cryptocurrency…
Bloomberg’s crypto market analyst, Jamie Coutts, suggests that alternative layer-1 blockchains aiming to challenge Ethereum (ETH) might face a dwindling timeframe. Coutts, in a post on the social media platform X, points out that the ascendance of Ethereum layer-2 solutions (L2s) is redirecting revenue away from Ethereum’s competitors. He notes, “The emergence of L2s has resulted in Ethereum’s network recapturing market share from its alternative layer-1 peers. Over the past year, the growth in active addresses on L2s has outpaced that of alternative layer-1s by a factor of 2, albeit starting from a lower base.” Coutts points out that alternative…
OpenAI, the company behind ChatGPT, is exploring solutions to address the chip shortages required to drive its artificial intelligence (AI) technology. Among the options currently under consideration, as outlined in a recent media report, is the potential development of its own high-performance processor. Reportedly, OpenAI is investigating the possibility of creating its own in-house AI chips to address the shortage of GPUs. OpenAI, the AI research lab, is considering the development of its own processors or AI accelerators to address the ongoing shortage of the expensive hardware required for its operations. This shortage has been exacerbated by the high demand…
The Bitcoin price appears poised for a potential upswing, targeting the resistance level at $28,500. A robust surge could be initiated if BTC successfully breaches the $28,500 resistance area. Bitcoin is currently maintaining its gains and displaying favorable indications above the $27,450 level. The price is trading above $27,800 and remains above the 100-hourly Simple Moving Average. On the hourly chart of the BTC/USD pair, a short-term descending channel is taking shape, with resistance forming near $27,980. This suggests that in the near future, the pair may retest the $28,500 resistance zone. Bitcoin Price Sets Sights on Further Gains Bitcoin…
The price of Bitcoin (BTC) experienced a sudden surge, revisiting the $28,000 mark, buoyed by robust US labor market data for September. As reported by the Bureau of Labor Statistics (BLS), payroll employment saw a substantial increase of 336,000 in September, while the unemployment rate held steady at 3.8%. BTC’s Response to US Data The release of positive employment data might prompt the FOMC to adopt a more hawkish stance at its upcoming November meeting. However, greater clarity on the Fed’s interest rate decision for November could emerge with the release of the September Consumer Price Index (CPI) data on…
Ethereum enthusiasts enthusiastically anticipated last year’s network upgrade, heralding it as a pivotal moment that would solidify ETH’s position as “ultrasound money.” The historic shift from proof of work to proof of stake in September significantly decreased ETH issuance by 90%. Numerous Ethereum proponents were confident that this change would firmly establish ETH as a deflationary currency, destined to appreciate in value from that point onwards. However, one year later, the outlook appears to be less certain. Over the past month, the global supply of ETH has experienced a significant increase, with nearly 30,000 ETH added to circulation, equivalent to…
For the seventh consecutive week, non-fungible token (NFT) sales have continued to decline. In the past week alone, NFT transactions amounted to $66.11 million, representing an 11.65% decrease compared to the prior week. NFT Sales Continue to Decline: Seven Consecutive Weeks of Decrease While the wider cryptocurrency market saw some upward movement, NFT sales did not reflect this positive trend. Over the past seven weeks, NFT sales volumes have consistently been on a downward trajectory. Here’s a rewritten version of the passage: According to data from cryptoslam.io, NFT sales for the past seven days unfolded as follows. While this week’s…
They made their debut in the Ethereum market for the very first time. This particular non-fungible token is based on the ERC-6551 token standard, which enhances certain features of the widely recognized ERC-721 standard. It has enjoyed substantial popularity on Polygon over the past few months. Let’s explore how these unique NFTs function in conjunction and examine some statistics showcasing their expansion. Here are all the specifics: Summary: What is ERC-6551: The Token Standard Transforming the NFT and Crypto Wallet Landscape?The Surge of Token-Bound Accounts on Polygon in Recent Months What exactly is ERC-6551: the token standard that is bringing…
The cryptocurrency trader known as the “Titan of Crypto” recently revealed his forecast regarding Bitcoin’s (BTC) next peak in a post shared yesterday. Using a detailed analysis of BTC’s historical price data and charting the trend lines from the previous cycle’s bottom to its subsequent peak, the trader has calculated a potential price target for the forthcoming cycle’s zenith. According to the trader’s analysis, BTC could potentially reach around $137,000, and this peak is anticipated to occur in August 2024. Presently, the leading cryptocurrency is trading at $27,952.35, reflecting a modest 0.15% increase in its price over the last 24…