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Bitcoin Transaction Fees Soar to $40, Sparking Debate and Push for L2 Solutions Amid Mempool Backlog

On Saturday, Dec. 16, 2023, Bitcoin’s transaction fees spike to a high of $40 per transaction at 1:48 p.m. Eastern Time. The jump in onchain fees surpassed the high reached on May 8, 2023, when the average transfer cost topped $31 per…

Echoes of 2013: Bitcoin Mining Concentration Reaches Decade-High Levels

In the past 72 hours, Antpool has dominated 26.48% of Bitcoin’s overall hashrate, closely followed by Foundry USA at 24.95%. Together, these two mining pools wield 51.43% of the prevailing 502 exahash per second (EH/s) total hashrate. This…

IMF Chief Calls for Clear Crypto Regulation — Warns High Crypto Adoption Could Undermine Financial Stability

The head of the International Monetary Fund (IMF) has called for clear crypto regulations worldwide, cautioning that high crypto adoption could undermine macro-financial stability. “Our goal is to make a more efficient, interoperable, and…

Finance Professor Blasts SEC’s Potential Cash-Only Rule for Spot Bitcoin ETFs Citing Benefits of In-Kind Model

A finance professor at Georgetown University has urged the U.S. Securities and Exchange Commission (SEC) to avoid micromanaging the creation/redemption process for spot bitcoin exchange-traded funds (ETFs). While the SEC proposed the cash creation…

Bitcoin Miner Hive Diversifies Into AI, Acquires 96 Nvidia GPUs to Boost High-Performance Computing Operations

On Friday, Hive Digital, based in Vancouver and specializing in bitcoin mining and high-performance computing (HPC), announced its foray into artificial intelligence (AI) and HPC technologies. This strategic move involves acquiring 96 Nvidia H100…

Bitcoin Celebrates One Year of Ordinal Inscriptions With 48 Million Mark Hit, Signaling Longevity Despite Ongoing Debate

On Dec. 15, 2023, a significant milestone was achieved in the Bitcoin blockchain world, just a day shy of the anniversary of the first Ordinal inscription. The total count of Ordinal inscriptions has impressively hit the 48 million mark. Despite…

Ethereum Technical Analysis: ETH Faces Downward Pressure; Bearish Trends Emerge Amidst Market Volatility

As of Dec. 15, 2023, ethereum’s price exhibits intricate dynamics, standing at $2,259. Oscillators and moving averages paint a mixed picture, while the 4-hour and daily charts reveal patterns of consolidation and a short-term downtrend…

Bitcoin Technical Analysis: BTC’s Consolidation Phase Signals Cautious Market Approach

As of Dec. 15, 2023, bitcoin’s price dynamics present a compelling narrative, marked by a blend of bullish trends and nuanced fluctuations. Following the U.S. Federal Reserve meeting on Wednesday, BTC’s price improved but has been in…

Coinbase Reveals ‘Project Diamond’ Initiative, Targets Institutions Issuing Native Digital Assets

Coinbase, the largest U.S.-based crypto exchange, has revealed Project Diamond, an initiative that seeks to provide the tools for institutions to issue native digital assets. The project, which integrates several technologies, including…

Adam Back Says ‘Suck That Truthoors’ as Cantor Fitzgerald CEO Reveals Company Holds Tether’s Treasuries

Howard Lutnick, CEO of Cantor Fitzgerald, a Wall Street private financial services company, has recently confirmed that they lent their services to Tether, the issuer of the biggest stablecoin in the cryptocurrency market. On CNBC’s Money…

Bitwise Unveils 10 Crypto Predictions for 2024: Bitcoin to Surpass $80,000, Spot Bitcoin ETFs Could Capture $72 Billion

Crypto asset manager Bitwise has unveiled 10 crypto predictions for 2024 that include bitcoin trading over $80,000, setting a new all-time high. The firm also estimates that spot bitcoin exchange-traded funds (ETFs) could capture $72 billion in…