Author: Sollcrypto
Tether Group, the cryptocurrency powerhouse responsible for the $86.5 billion market capitalization of Tether, has taken a significant step into the cloud GPU domain. They’ve allocated a substantial sum of $420 million to acquire 10,000 Nvidia H100 GPUs, solidifying a 20% ownership stake in the contentious Bitcoin mining entity, Northern Data. Tether Embraces a Fresh AI Approach with Nvidia Technology. Nvidia’s H100, priced at $40,000 per unit, stands as one of the most coveted assets in the technology industry today. AI startups are in a race to obtain these GPUs, as they are the preferred processors for companies specializing in…
A prominent cryptocurrency strategist with a significant following anticipates that Bitcoin (BTC) will experience another market correction before embarking on a substantial upward trajectory. Operating under the pseudonym Credible Crypto, this analyst shares insights with their 346,700 followers on the social media platform X. Credible Crypto suggests that Bitcoin is likely to retreat to at least the mid-$26,000 range but will maintain an overall upward trend. Credible Crypto explains that “corrective” patterns typically involve downward movements that “correct” or retrace a portion of the previous significant price surge. These “impulsive” movements represent price advances in the direction of the prevailing…
The meme coin market is buzzing this week, as numerous tokens record significant gains and the highly anticipated Wall Street Memes presale approaches. Let’s delve into five meme coins that traders and investors should keep a close eye on this week. Pepe Experiences a 7% Drop as Its Sharp Decline Persists. Pepe, often credited as one of the catalysts for this year’s meme coin resurgence, is facing significant challenges this month. The token has experienced a nearly 44% decrease in value over the past month, and there has been an additional 6.96% decline in the past week. Remarkably, Pepe has…
As the Bitcoin network has steadily grown over time, the mining sector behind Bitcoin (BTC) has not witnessed a corresponding surge in its carbon footprint. According to a Bloomberg analyst, this achievement is one that “only a few industries can lay claim to.” This development holds the potential to stimulate the next wave of institutional investment. On September 20, Jamie Coutts, a crypto market analyst at Bloomberg, referenced data indicating that the proportion of sustainable energy sources in Bitcoin’s energy mix has consistently increased since 2021 and now exceeds 50%. As a result, emissions growth has slowed in comparison to…
The Bitcoin price is encountering difficulties in surpassing the $27,500 resistance level. As a result, BTC is gradually descending and could potentially revisit the support zone around $26,200 in the upcoming sessions. Bitcoin is persistently grappling with the $27,500 resistance barrier.Currently, the price is trading above $26,800 and is above the 100-hourly Simple Moving Average.On the BTC/USD hourly chart (data sourced from Kraken), a significant bullish trend line is emerging, offering support in the vicinity of $26,810.If Bitcoin continues to face challenges below the $27,500 mark, there is a possibility that it could initiate a bearish trend below $26,800. Bitcoin’s…
Ethereum’s price saw a correction downward after facing resistance at the $1,670 level against the US Dollar. The situation could worsen significantly if the crucial support at $1,600 is breached. The descent in Ethereum’s value commenced after encountering resistance at $1,660.Currently, the price is trading beneath $1,640 and is below the 100-hourly Simple Moving Average.On the hourly chart of ETH/USD (data sourced from Kraken), a significant bearish trend line is taking shape, indicating resistance around $1,640.For a potential short-term uptrend, it is imperative that the pair maintains its position above the support zone at $1,600. Ethereum’s Value Continues to Decline.…
Balancer, a decentralized finance protocol running on the Ethereum network, has issued a cautionary message to its users, advising them to refrain from accessing its website due to a recent frontend attack. The platform alerted its community on September 19 at 11:49 pm UTC, urging users to avoid interacting with the Balancer user interface until further updates are provided. Several users have reported encountering a concerning issue where they are prompted to approve a malicious contract that siphons funds from their wallets when engaging with the website. This marks the second attack on Balancer within a month, following a prior…
It’s fair to state that Binance US, the American arm of the world’s foremost cryptocurrency exchange, has navigated a turbulent period marked by substantial customer withdrawals and a notable decline in trading activity over the past few months. According to data from market analytics firm Kaiko, weekly trading volumes on the platform have recently plummeted to a mere $40 million, marking a staggering 99% decrease from the nearly $5 billion recorded in March, a time when the cryptocurrency industry was displaying signs of resurgence. In the ensuing discussion, we will explore the factors contributing to this significant downturn. The lawsuit…
The Bitcoin price is poised for a significant upward breakthrough beyond the $27,500 resistance level. If it manages to close above this point, BTC could potentially surge towards $28,200. Bitcoin is currently demonstrating optimistic indicators but encountering obstacles in the vicinity of $27,500. Presently, it is trading above $26,850 and maintaining position above the 100-hourly Simple Moving Average. Additionally, there is a notable bullish trend line taking shape, offering support in the vicinity of $26,800 on the BTC/USD hourly chart (data sourced from Kraken). If there’s a decisive breach of the $27,500 resistance level, the pair may experience further upward…
Canto, a blockchain originally native to Cosmos’s layer-1, is the latest blockchain to embark on a migration journey to Ethereum, where it will function as a layer 2 solution utilizing zero-knowledge rollup technology. Astar, another layer-1 blockchain, previously unveiled similar plans as it transitioned from the Polkadot ecosystem to Ethereum. Canto, an EVM-compatible permissionless blockchain, has set its sights on bridging the traditional financial sector with decentralized finance applications. Following a formal agreement reached through Canto Commons—a collaborative framework for contributors to align on ideas and protocol solutions—its core developers are poised to construct a zero-knowledge rollup on Ethereum’s second…