January 31, 2024, New York, USA, Chainwire This week, the much-anticipated Bitcoin L2 solution Merlin Chain launched on testnet, with mainnet expected to launch within a month. Bitcoin’s Network Congestion Dilemma and Scaling Solutions The evolution of Ordinals over the past year has reignited interest in the Bitcoin ecosystem after a long absence. While increasing the enjoyment of the Bitcoin ecosystem, it has also increased the depletion of network resources. Increasingly higher transaction costs and the rising price of Bitcoin itself have added to congestion on the network and discouraged new users from becoming interested in Bitcoin. (Bitcoin daily average…
Author: Crypto Flexs
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Solana DEX Aggregator Jupiter yup -70.13% It recorded a trading volume of $1.38 billion in the last 24 hours.This figure more than doubles Jupiter’s recent daily trading volume, making it the top DEX platform over the past 24 hours.Yesterday’s much-anticipated Jupiter token launch and airdrop led to a surge in activity on the Solana network, with web3 wallet Phantom saying it had never seen this level of traffic. This has seen three times the total traffic volume since the recent launch of the WEN meme token. Jupiter’s daily trading volume. Image: Jupiter.JUP token launch and airdropJupiter’s new governance token began…
The U.S. Energy Information Administration (EIA) collects data on the energy use of cryptocurrency miners operating in the United States.In a press release, the agency announced that it would begin “an interim investigation into electricity consumption information from cryptocurrency mining companies identified as operating in the United States.”Cryptocurrency mining is a way for assets such as Bitcoin, Dogecoin, and Monero to verify transactions and unlock new coins using a proof-of-work consensus mechanism. Ethereum used to have a proof-of-work consensus, but will switch to proof-of-stake in September 2022, meaning miners will no longer be needed.The survey, which will begin next week,…
During the month of January, the Grayscale Bitcoin Trust (GBTC) exchange-traded fund (ETF) conducted aggressive Bitcoin selling, shedding a total of 132,195 BTC. This significant sell-off caused GBTC’s Bitcoin holdings to decline by 21%, from 619,220 BTC on January 11 to 487,025 BTC on January 31.In contrast, nine other U.S. Bitcoin spot ETFs have significantly increased their holdings. A total of 142,294 bitcoins have been added to these non-GBTC ETFs since the beginning of the month. This increase goes from 18,390 BTC at the start of trading to 160,684 BTC as of January 31, representing a whopping 674% growth.As of…
Crypto trader and strategist Ali Martinez expressed bullish sentiments about Dogecoin (DOGE) rival and Bitcoin (BTC). Martinez says 42,700 followers on the TD Sequential Indicator is used to predict the possibility of a market trend reversal. “SHIB could rise to $0.010 or potentially $0.011, so watch carefully!” Source: Ali Martinez/X As of this writing, Shiba Inu is trading at $0.00000903. Martinez Switches to Bitcoin Called Based on historical precedent for market-to-realized value (MVRV), the leading cryptocurrency asset could rise approximately 41% from current levels. MVRV is the ratio of Bitcoin market capitalization to realized capitalization. In other words, it is…
I set up my own omnicore node, but I recently ran into an error. "libevent: Error calling accept(): Too many open files. Do you have any solutions or recommendations to resolve this error?
TeslaCoin is a relatively new cryptocurrency that is gaining traction in the digital currency world. Inspired by the vision of legendary inventor and futurist Nikola Tesla, TeslaCoin aims to revolutionize the way we think about money and finance. TeslaCoin Concept The idea behind TeslaCoin is to create a decentralized peer-to-peer digital currency that is fast, secure, and environmentally friendly. TeslaCoin uses cutting-edge blockchain technology to verify and record transactions in a transparent and tamper-proof manner. Unique Features of TeslaCoin TeslaCoin offers several unique features that set it apart from other cryptocurrencies. One of its key features is that it uses…
Cube.Exchange, a yet-to-be-disclosed hybrid cryptocurrency trading platform, has raised $12 million in a Series A funding round. Cube said Thursday that 6th Man Ventures led the round, with participation from GSR Markets, ParaFi Digital, Susquehanna Private Equity Investments, Everstake Capital and others.The new round comes just over three months after Cube raised $9 million in seed funding. Cube CEO Bartosz Lipinski, a former Solana engineer, said the company has not actively raised funds but has responded to “significant interest” from investors. “We closed the entire round in less than a month,” Lipinski told The Block, referring to the period since…
The plaintiffs, who also sued Iran and Syria, accuse the cryptocurrency exchange of facilitating the financing of Hamas, which has been classified as a terrorist group by the United States, the United Kingdom, other jurisdictions, and other terrorist organizations, from 2017 to 2023. “It is a secret fundraising tool that Binance intentionally hid from U.S. regulators.”
Russian Central Bank Governor Elvira Nabiullina said the Russian central bank was discussing the possibility of using a central bank digital currency as a means of payment for foreign trade. While Nabiullina is opposed to Russia using cryptocurrency payments in domestic transactions, she is open to the idea of using cryptocurrencies in foreign trade, she said.advertising Russia Supports Cryptocurrency Use in Foreign Trade Bank of Russia Governor Elvira Nabiullina said the Russian central bank is discussing the possibility of using central bank digital currency (CBDC) and cryptocurrencies for cross-border payments with friendly countries. Nabi Ulina, known for successfully running the…