Bitcoin consolidated close to a key price floor of $26,300 on Thursday, as a downward death cross sent the cryptocurrency lower. Overall sentiment in the market remains lower, with the global cryptocurrency market cap falling by 1.58% as of writing. Ethereum also declined, after nearing a move above $1,900 on Wednesday.

Bitcoin

Bitcoin (BTC) consolidated during Thursday’s session, as market volatility remained high ahead of next week’s Federal Reserve interest rate decision.

BTC/USD slipped to a low of $26,146.99 earlier in the day, which comes less than 24 hours after trading at $26,897.25.

Today’s move saw the world’s largest cryptocurrency briefly break out of a key support point at $26,300.

BTC/USD – Daily Chart

Since this earlier fall, BTC bulls have moved to buy the dip in price, with the cryptocurrency now once again above this floor.

This comes as the relative strength index (RSI) pivots from a recent free fall, and is now en route to a ceiling at 47.00.

At the time of writing, the index is tracking at 44.87, which comes as the 10-day (red) moving average fell below its 25-day (blue) counterpart.

Ethereum

Additionally, ethereum (ETH) edged lower in today’s session, a day after prices neared a breakout above the $1,900 level.

Following a high of $1,896 on Wednesday, ETH/USD dropped to an intraday low of $1,822.30.

As a result of this decline, ethereum moved below a key support point of $1,830, before bulls moved to stabilize this level.

ETH/USD – Daily Chart

From the chart, it appears that bulls decided to reenter the market as the RSI found its own floor at 47.00.

Currently, the index is at a reading of 48.52, which is marginally below a ceiling at 49.00.

#dyor #crypto2023 #googleai #BTC #Ethereum

On Wednesday, Bitcoin reached a new milestone as its mining difficulty increased by 3.4% at block height 792,288, setting a fresh record. The difficulty level surpassed the 50 trillion mark for the first time in Bitcoin’s history, hitting an unparalleled 51.23 trillion.

Bitcoin Mining Difficulty Jumps 3.4% Higher

Data reveals that around 373 exahash per second (EH/s) of hashrate is committed to the Bitcoin blockchain, and the network’s hashpower has been consistently growing. For instance, on May 2, 2023, at block 787,895, the network’s hashrate reached an all-time high of 491.15 EH/s. Due to this escalated hashrate and quicker block intervals, the difficulty rose by 3.22% on May 18 at block height 790,272.

The most recent difficulty adjustment transpired at block height 792,288 with a 3.4% increase. The difficulty climbed from 49.55 trillion to the present 51.23 trillion after Wednesday’s surge. This is the first time Bitcoin has registered a difficulty above the 50 trillion mark; the figure of 51.23 trillion represents the lowest value a computed hash must be below for a miner to successfully mine a new block.

This change signifies that discovering a BTC block has never been more challenging; due to increased difficulties in mining, it now necessitates heightened computational power and resources to find a valid hash and secure mining rewards. Currently, Foundry USA is the leading mining pool contributing the most hashrate to the network with 114.75 EH/s and commanding 30.26% of the total hashrate on May 31.

Following Foundry’s lead include the mining pools Antpool (79.75 EH/s), F2pool (55.34 EH/s), Binance Pool (34.99 EH/s), and Viabtc (29.30 EH/s). The network recorded an average hashrate of roughly 366 EH/s throughout the last 2,016 blocks. The next difficulty adjustment on the Bitcoin network is slated to take place around June 14, 2023. Despite the rising mining difficulty, bitcoin miners carry on undeterred, and the overall network hashrate continues to remain constant, indicating an unwavering trend of activity.

#dyor #googleai #crypto2023

Multiple reports have revealed that Binance, the crypto exchange with the highest trade volume, has announced the removal of 12 privacy-focused cryptocurrencies from its markets in Spain, France, Poland, and Italy. Commencing on June 26, 2023, users residing in these four countries will no longer have the option to purchase or trade these privacy coins on Binance’s trading platform.

Binance to Delist 12 Privacy Coins in Spain, France, Poland and Italy

Binance has recently informed its customers in France, Spain, Italy, and Poland via email that it intends to remove 12 distinct privacy coins from these markets. Among the privacy coins set to be delisted are dash (DASH), verge (XVG), beam (BEAM), monero (XMR), navcoin (NAV), firo (FIRO), horizen (ZEN), secret (SCRT), zcash (ZEC), pivx (PIVX), decred (DCR), and mobilecoin (MOB).

“Due to local regulatory requirements, Binance is no longer able to offer privacy-enhanced cryptocurrencies in France,” an email to French customers details. “Starting from June 26, 2023, users residing in France will no longer be able to buy or sell the [specific] privacy coins on our platform,” the notice adds.

On Wednesday, the leading privacy coins experienced a 3.2% decline in value against the U.S. dollar. The combined market capitalization of all existing privacy coins currently sits at approximately $5.73 billion, with monero (XMR) taking the lead. XMR has experienced a 2.4% loss today, while the second-largest privacy coin by market capitalization, DASH, has seen a drop of 3.5%. However, despite these losses, the top five privacy coins, based on market capitalization, are displaying positive performance according to seven-day statistics.

Privacy coins have encountered delistings due to regulatory concerns on multiple occasions in the past. In 2021, prominent cryptocurrency exchanges in South Korea made the decision to remove several of the top privacy coins from their platforms. This trend was also witnessed in Japan back in 2018, and it gradually spread across various Asian countries in 2019. The recent news of Binance’s delisting of privacy tokens comes in the wake of its withdrawal from the Canadian market and its challenges with a domestic payment provider in Australian markets.

#Binance #BinanceTournament #marketupdate #BNB

Litecoin rose for a sixth consecutive session to start the week, as bullish sentiment returned to cryptocurrency markets. As of writing, the global market cap is up by as much as 2.50%. BNB was also in the green, hitting a 20-day high on Monday.

Litecoin (LTC)

Litecoin (LTC) was a notable mover on Monday, as the token climbed for a sixth consecutive session.

LTC/USD raced to a peak of $92.16 earlier in the day, which comes less than 24 hours after trading at a low of $89.10.

This move has led to litecoin climbing to a key resistance level of $93.00, which was last hit on May 23.

LTC/USD – Daily Chart

From the chart, the recent rise seems to be a result of the relative strength index (RSI) breaking out of a ceiling at 51.00.

The index has since rallied further, hitting a resistance point at 57.00, which has resulted in earlier gains fading.

At the time of writing, LTC is trading at $91.38, with price strength at a reading of 56.05.

BNB

BNB, or binance coin, was also in the green to start the week, with prices moving to a multi-week high in the process.

Following a bottom at $307.53 on Sunday, BNB/USD rose to an intraday peak of $316.83 earlier today.

This surge saw BNB hit its highest level since May 9, when the token was trading above $320.00.

BNB/USD – Daily Chart

Overall, BNB is now trading 2% higher than at the same point last week, with today’s rally sending the RSI to its strongest reading since May 1.

In addition to this, the 10-day (red) moving average (MA) is also moving towards an upwards crossover with the 25-day (blue) MA.

Should this cross take place, there is a good chance that BNB will move towards a long-term ceiling at the $340.00 mark.

#Binance #BinanceTournament #BTC #dyor

Global cryptocurrency exchange Binance says it has created a new crypto trading platform for Japan residents that will be available this summer. The new exchange will fully comply with Japanese crypto regulations and will offer trading of a limited number of tokens initially, according to the exchange.

Binance Has Created New Crypto Trading Platform for Japan Users

Global cryptocurrency exchange Binance has announced that it is launching a local crypto trading platform for residents of Japan this summer. Binance wrote:

We are pleased to announce that we have created a new platform for residents in Japan in order to fully comply with local regulations.

“The new platform will be available this summer. We will inform the launch date and provide further details in the coming months,” the global crypto exchange continued.

The services offered by Binance’s global platform will be discontinued for Japan residents on Nov. 30, the announcement adds. “Users of the global platform will be able to migrate to the new local platform through a new identity verification process (KYC), which will be available after August 1, 2023.”

From Dec. 1, all Binance.com accounts held by local Japanese resident users will be set to “withdrawal-only mode,” Binance detailed. In addition, Binance noted that its new Japan platform “will not provide derivatives services at the initial stage to comply with local regulations.”

Regarding which crypto tokens will be available on the new Binance Japan platform, the crypto firm explained:

Binance Japan will have a limited number of tokens available for spot trading at the initial stage, and there are limitations on certain product offerings to comply with local regulations. We will add more products and services when it is possible to do so.

Binance further noted: “We aim to provide over 30 tokens as a first step. We will provide updates and more information once new tokens are confirmed.”

In November last year, Binance said it had acquired 100% of Sakura Exchange Bitcoin (SEBC), a Japanese crypto exchange service provider regulated by Japan’s top financial regulator, the Financial Services Agency. “The Japanese market will play a key role in the future of cryptocurrency adoption. As one of the world’s leading economies with a highly-developed tech ecosystem, it’s already poised for strong blockchain uptake,” said Takeshi Chino, general manager of Binance Japan.

#Binance #binancepizza #googleai #BNB

In the past 21 months following Ethereum’s London hard fork, the network has witnessed the destruction of over 3.33 million ether, valued at $6.1 billion. At present, roughly 3.51 ether is burned every single minute. Standing out as a prominent participant in the burn process since August 5, 2021, just below conventional ETH transfers, is the Opensea platform, which has contributed to the burning of 230,050 ETH.

More Than $6 Billion in Value Destroyed Since EIP-1559

Back on August 5, 2021, a significant event occurred in Ethereum’s history with the implementation of the Ethereum Improvement Proposal (EIP) 1559 as part of the London upgrade. Since then, 660 days have passed. In the initial three months alone, over 700,000 ether was burned, setting the stage for what was to come.

Fast forward to the end of May 2023, utilizing the latest burn metrics, EIP-1559 has fueled the burning of 3.33 million ethereum (ETH) with a value of $6.1 billion, reflecting current ether exchange rates. Since the upgrade, the primary driving force behind this burning lies in the everyday traditional transfers of ether.

Ultrasound.money statistics.

Figures reveal that conventional ether transactions have led to the destruction of a substantial sum of 285,576 ether, valued at $522 million. Notably, the Opensea platform stands as the second largest contributor to this burning since August 2021, with 230,050 ETH going up in flames as a result of associated transactions.

Equally noteworthy, transactions associated with Uniswap v2 have contributed to the destruction of 179,571 ether since 2021. When combining the effects of conventional ether transfers, Opensea, and Uniswap-related transactions, the collective burn amounts to a tally of nearly 700,000 ether.

Ultrasound.money statistics.

Since 2021, Tether’s ERC20 transactions have played a role in the burning of 146,837 ether, while Uniswap v3 transfers have contributed to the burning of 120,889 ETH. Alongside these notable burners, the all-time leaderboard also features prominent contributors such as Metamask, USDC, Otherdeed, and the creation of new contracts.

Over the past seven days, the burn rate is 3.51 ether per minute, resulting in the destruction of more than 28,000 ethereum. Notably, the seven-day statistics reveal that Uniswap-associated transactions have outpaced conventional ETH transfers, further solidifying its position at the forefront of today’s top burners.

In the United States, the current average price for a house stands at $436,000 per dwelling. The quantity of burned ethereum, valued at $6.1 billion, could have been used to acquire approximately 14,000 homes at this average price. Alternatively, one could delve into the realm of luxury automobiles. With a low-end Lamborghini Huracan priced at $242,000 today, the sum of $6.1 billion would enable the purchase of around 25,206 of these racing machines.

Interestingly, when examining the expenditure patterns of the U.S. government, data reveals that between October 2021 and April 2022, they were spending nearly $500 billion each month. This striking contrast emphasizes the government’s ability to burn through money at a much faster pace than the Ethereum network, as the network of bureaucrats exhausts $6.1 billion in a mere 8.8 hours.

#binancepizza #BTC #BNB #googleai

The Dogecoin blockchain has witnessed a significant surge in transaction activity ever since the inception of DRC20 tokens. When compared to other prominent networks, Dogecoin has stood out with its substantial volume of processed transactions. Recent statistics reveal an unprecedented milestone reached on May 27, 2023, as the number of DOGE transactions soared to a record-breaking high of more than 2 million.

Dogecoin’s Transfer Activity Skyrockets, Hashrate Climbs More Than 38%

The leading meme coin network, Dogecoin, has been leaving behind network giants like Bitcoin and Ethereum in the race for daily transaction settlements. While Bitcoin has averaged around 400,000 to 532,000 confirmed transactions per day over the past week, and Ethereum has been processing approximately a million transfers daily, Dogecoin has surpassed them both.

Since May 22, the Dogecoin network has consistently confirmed over a million transactions each day, reaching 1.42 million on May 23. Saturday, May 27 witnessed a milestone for the Dogecoin network as it soared to an all-time high, processing 2,079,070 transactions.

Dogecoin daily transaction count via Blockchair on May 28, 2023.v

Today, on May 28, 2023, the network shows no signs of slowing down, with the transaction count already surpassing the million mark and continuing to climb. The surge in DOGE transactions can be attributed to the introduction of DRC20 tokens, akin to the BRC20 tokens minted on the Bitcoin blockchain.

The realm of DRC20 tokens is expansive, but their current values lack the indexed structure found in BRC20s, making it difficult to figure out the worth of these newfound assets. Presently, DRC20s, also known as Doginals, are primarily exchanged through over-the-counter (OTC) trades, reminiscent of the early days when Bitcoin-based Ordinal inscriptions were traded before the advent of Ordinal exchange platforms.

Alongside the surge in transactions, the Dogecoin network, which can be merge mined with Litecoin, has experienced a notable uptick in hashrate over the past few weeks. To illustrate, the Scrypt hashrate dedicated to the Dogecoin network on May 9 stood at 638 terahash per second (TH/s). However, it has escalated by 38.71% to its current standing of 885 TH/s.

#googleai #BinanceTournament #BTC #bitcoin

One of Saturday’s biggest movers is XRP, which rose to a 30-day high earlier in today’s session. The token rose for a third consecutive day, as bulls returned to the market to start the weekend. Cardano was another notable gainer today.

XRP

XRP (formerly ripple), moved to a one-month high on Saturday, as bulls began to gradually renter the market.

Following a low of $0.4614 on Friday, XRP/USD raced to a peak of $0.4777 earlier in the day.

As a result of the surge, the token climbed to its highest level since April 30, when it was last above $0.4800.

XRP/USD – Daily Chart

Looking at the chart, the move came as XRP bulls broke out of a key resistance level at the $0.4750

This occurred as the relative strength index (RSI) also moved beyond a ceiling at the 57.00 mark.

At the time of writing this, the index is now at a reading of 58.18, with the next target for bulls potentially at 62.00.

Cardano (ADA)

Cardano (ADA), was also in the green to start the weekend, with prices moving further away from a recent support level.

ADA/USD hit an intraday high of $0.3667 earlier in today’s session, which comes following a low of $0.3564 on Friday.

The move has resulted in cardano climbing to its strongest point since Wednesday, moving away from the aforementioned floor at $0.3550 in the process.

ADA/USD – Daily Chart

From the chart, ADA has begun to consolidate, with price now retreating from its earlier highs, following a collision with a ceiling on the RSI.

Price strength has failed to move past a point of resistance of 44.00 which has pushed the token to a current reading of $0.3638.

#googleai #xrp #BTC #BNB

Bitcoin moved closer to the $27,000 level on Saturday, as markets continued to react to the latest Personal Consumption data from the United States. The key inflation index rose to 4.4% in April, higher than expectations of a drop to 3.9%. Ethereum also edged higher.

Bitcoin

Bitcoin (BTC) rallied towards $27,000 to start the weekend, as prices reacted to the latest Personal Consumption data in the United States.

BTC/USD climbed to a peak of $26,916.67 earlier in today’s session, which came a day after trading at a low of $26,370.55.

The move sees bitcoin climb for a third straight session, moving past a floor at $26,3000 in the process.

BTC/USD – Daily Chart

From the chart, the latest surge in price came as the 14-day relative strength index (RSI) bounced from a support point at 39.00.

At the time of writing this, the index is now tracking at 43.02, with the next visible point of resistance at 45.00.

Should this point be broken, then there is a strong possibility that BTC will move back over the $27,000 level.

Ethereum

In addition to BTC, ethereum (ETH) also moved higher on Saturday, remaining above the $1,800 level.

Following a low of $1,810.37 on Friday, ETH/USD managed to hit an intraday high of $1,837.87 earlier in the day.

This surge led to the world’s second-largest cryptocurrency breaking out of its recent ceiling of $1,830.

ETH/USD – Daily Chart

However, as the day has progressed, earlier gains have somewhat fallen, with ETH now trading at $1,828.18.

It appears that market uncertainty has also risen, as the RSI neared a ceiling of its own at the 49.00 mark.

Price strength is now tracking at 48.75, and should it break out of this point, then there could be further highs from ETH this weekend.

#BNB #high #ETH #BTC

Despite an upswing in mining difficulty on May 18, current data projects Bitcoin’s mining difficulty to see a further escalation on May 31, 2023—potentially jumping between 1.1% and 2.51%.

Bitcoin’s Difficulty Nears 50 Trillion Milestone

Bitcoin’s mining difficulty, already at an unprecedented level of 49.55 trillion, seems poised to breach the 50 trillion threshold within five days. Although the process of mining bitcoin (BTC) has become increasingly challenging, the hashrate has maintained an average rate of 364 exahash per second (EH/s) during the last 2,016 blocks. As of May 26, 2023, the hashrate hovers around 367.29 EH/s based on a 24-hour analysis.

On May 2, 2023—a noteworthy event in Bitcoin’s lifetime—its hashrate reached a historic high at block height 787,895 with an impressive figure of 491.15 EH/s. The network’s hashrate spiked again in mid-May to reach 453 EH/s and today, it achieved a peak of 427 EH/s. Block intervals have hastened, and the most recent block recorded at block height 791,491 had a duration of approximately nine minutes and 53 seconds.

Estimated difficulty change as of May 26, 2023, according to btc.com statistics.

The acceleration in block intervals or times outpacing the ten-minute average suggests that another rise in difficulty looms next week. Already, projections reveal a potential increase on May 31 that could range from 1.1% to 2.51%. Should this transpire, Bitcoin’s mining difficulty will land in the vicinity of 50.79 trillion—a milestone for surpassing the 50 trillion mark for the first time in Bitcoin’s lifespan.

Currently, Foundry USA leads the pack among mining pools with a 127.93 EH/s hashrate—amounting to 35.54% of the entire network’s total. Antpool, F2pool, Viabtc, and Binance Pool trail closely in the respective rankings of overall hashrate per mining pool. Over the previous month, a total of 4,396 blocks were unearthed by Bitcoin miners, with Foundry discovering 1,373 blocks by May 26.

#BinanceTournament #BNB #BTC #googleai #BRC20

Polygon climbed to a multi-week high on Friday, as bearish sentiment in cryptocurrency markets began to fade. The global crypto market marginally rose during today’s session, following yesterday’s downturn. XRP was another notable gainer.

Polygon (MATIC)

Polygon (MATIC) was one of Friday’s big movers, as the token rose to a multi-week high during the day.

Following a low of $0.8802 on Thursday, MATIC/USD hit an intraday high of $0.9514 during today’s session.

As a result of the move, polygon recorded its strongest point since May 8, breaking out of a key resistance of $0.9500 in the process.

MATIC/USD – Daily Chart

From the chart, it appears that this breakout occurred as the 10-day (red) moving average moved closer to an upwards crossover with its 25-day (blue) counterpart.

In addition to this, the relative strength index (RSI) moved past its own ceiling at the 49.00 mark.

At the time of writing this, price strength is now tracking at 52.93, with an upcoming ceiling of 56.00 a possible hurdle for bulls

XRP

XRP (formerly ripple), also saw an increase in bullish momentum, as it rebounded from a recent one-week low.

XRP/USD climbed to an intraday peak of $0.4673 earlier in the day, following a low of $0.4472 on Thursday.

Today’s peak saw the token move closer to its long-term resistance level of $0.4690, which was last broken in April.

XRP/USD – Daily Chart

Earlier gains in XRP have somewhat eased, as the RSI also moved near a ceiling of its own at 55.00

As of writing this, the index is currently tracking at the 54.80 mark, with the price currently at $0.4673.

Should this ceiling at 55.00 be broken, there is a possibility that XRP will hit a one-month high in the upcoming days.

#googleai #BTC #BNB #BinanceTournament #BRC20

Ethereum was once again trading above the $1,800 level, after a brief breakout during Thursday’s session. Prices rose by as much as 2%, as optimism grew that the U.S. debt ceiling could be increased. Bitcoin also marginally climbed, moving away from yesterday’s two-week low.

Bitcoin

Bitcoin (BTC) rose slightly higher on Friday, as prices moved away from a recent two-week low.

Following a low of $25,890.59 on Thursday, BTC/USD rose to a peak at $26,591.52 earlier in the day.

The move saw bitcoin (BTC) once again climb above a point of support at the $26,300 level, which has been in place for the past few weeks.

Bitcoin chart by TradingView

Despite this latest rebound, BTC remained almost 2% lower than at the same point last week.

For bulls, a positive sign comes in the form of the 14-day relative strength index (RSI), which failed to break out of a floor at 39.00

The last time breakout took place was back on March 10, which led to BTC falling below the $20,000 mark.

Ethereum

Ethereum (ETH) rose back above the $1,800 mark on Friday, after dropping to a multi-week low of its own yesterday.

ETH/USD hit a high of $1,817.16 earlier in today’s session, which comes a day after the price fell to a bottom at $1,788.29.

As a result of today’s slight rebound, the 10-day (red) moving average is now firmly on the verge of crossing its 25-day (blue) counterpart.

Ethereum chart by TradingView

The chances of this occurring come as price strength once again bounced from support at 44.00, leading to a reentry of long-term bulls.

As of writing this, the index is now tracking at 46.39, with the next visible resistance level at 51.00.

Should momentum continue to climb, there is a good chance that ETH could hit $1,900 this coming weekend.

#googleai #BTC #BNB #bitcoin #feedfeverchallenge

Litecoin was a notable mover on Wednesday, as the token dropped by as much as 6% in today’s session. The decline came as a red wave swept through the crypto market, leading to the global cap falling by 2% at the time of writing. Dogecoin also dropped, hitting a two-week low.

Litecoin (LTC)

Litecoin (LTC) was one of Wednesday’s biggest movers, as the token fell by as much as 6% in today’s session.

LTC/USD dropped to a bottom of $85.87 earlier in the day, less than 24 hours after hitting a high of $91.79.

The decline in price pushed litecoin to its weakest point since May 15, when it last broke out of a floor at $85.00.

LTC/USD – Daily Chart

From the chart, it appears that today’s move transpired as the relative strength index (RSI) fell below a support level of 50.00.

Currently, price strength is now tracking at 46.95, with the next visible floor at the 39.00 mark.

Although LTC has rebounded from an earlier low, and is now trading at $86.61, a breakout below $85.00 remains possible.

Dogecoin (DOGE)

Dogecoin (DOGE) was also in the red on Wednesday, as it fell to a multi-week low of its own.

Following a high of $0.07305 on Tuesday, DOGE/USD slipped to a low of $0.07103 in today’s session.

This drop in price pushed the meme coin to its lowest point since May 12, which is the last time it traded under $0.07000.

DOGE/USD – Daily Chart

Overall, dogecoin has mostly consolidated between the aforementioned low, and a resistance level at $0.0750 for the past few weeks.

In order to move away from this current threshold, a ceiling of 43.00, or floor at 36.00 will need to be broken.

At the time of writing, the index is at a reading of 37.42.

#binancepizza #Binance #BNB #googleai #BTC

In the past month, recent data reveals that sales of non-fungible tokens (NFTs) originating from the Bitcoin blockchain have surged to $173.28 million. Surpassing 20 alternative blockchain networks, Bitcoin-based NFT sales now secure the second position in the realm of blockchain sales, with only Ethereum reigning supreme.

Bitcoin-Based NFTs Storm the Market, Surpassing 20 Blockchain Competitors

Amidst the fervor surrounding the Ordinal inscription trend, Bitcoin-based NFTs have skyrocketed in popularity. The sales amassed over the past 30 days firmly established the network as the second-largest in terms of sales within this time frame. While Ethereum NFT sales saw $392.23 million, this past month Bitcoin sales tallied up to $173.28 million, up 408.29% from the month prior.

However, there has been a significant 47% decline in the number of buyers for Bitcoin-based NFTs, totaling 6,955 over the course of the past 30 days. Insights from cryptoslam.io data highlight that the leading NFT collection, in terms of sales during this period, is the Bored Ape Yacht Club (BAYC).

The BAYC collection garnered $39,307,853 in sales over the past month, closely followed by the Ordi BRC20 NFTs, which amassed a slightly lower amount at $38,375,984. Noteworthy sales also transpired within other Bitcoin-centric NFT collections, including uncategorized Ordinals, as well as Space Pepes.

Sales from uncategorized Ordinals reached $23,508,299, while Space Pepes accumulated $12,247,480 in sales. Additionally, the Bitcoin Frogs NFT collection hopped its way to $9,849,639, while $NALS NFTs secured around $6,818,592 in sales over the past 30 days. The Bitcoin blockchain took center stage as the birthplace of the top five most expensive NFT transactions during this period.

These included a $4.5 million sale of a Space Pepe, as well as three uncategorized Ordinals that fetched prices exceeding a million dollars each. A Bitamigos NFT, for its part, commanded a $1.3 million price tag. It is also worth noting that nine out of the top-priced NFTs sold last month were derived from Bitcoin.

As of May 24, 2023, the Bitcoin blockchain has surpassed nine million inscriptions, coinciding with the surge in Bitcoin-based NFT sales. This trend has rewarded miners with an estimated value of approximately 1,495 BTC or $40.27 million since the emergence of inscriptions on the chain.

Initially, skepticism surrounded the ability of Bitcoin to generate sufficient NFT activity to rival prominent NFT blockchains such as Solana and Polygon. However, the oldest blockchain network in existence so far has demonstrated its prowess as a formidable competitor.

#binancepizza #bitcoin #BNB #NFT #BTC

Bitcoin was once again trading below a key resistance level of $27,000 on Wednesday, ahead of today’s U.S. Federal Open Market Committee (FOMC) minutes report. Markets are expecting that the minutes will show the Federal Reserve’s timeline towards a policy pivot. Ethereum was 2% lower today.

Bitcoin

Bitcoin (BTC) moved below $27,000 on Wednesday, as markets begin to prepare for the release of the upcoming FOMC minutes report.

Following a high of $27,386.99 on Tuesday, BTC/USD dropped to a low of $26,671.98 earlier in today’s session.

The move comes following two days of consecutive gains, which pushed bitcoin to a one-week high.

Bitcoin chart by TradingView

Looking at the chart, the decline came as the relative strength index (RSI) of 14 days fell below a support point at 42.00.

At the time of writing this, the index is now tracking at 41.356, with a lower floor at 39.00 a possible target for bears.

If successful in reaching this level, BTC will likely be at the $26,300 mark.

Ethereum

Ethereum (ETH) fell by as much as 2% in today’s session, however bulls have so far rejected a breakout below the $1,800 level.

ETH/USD dropped to an intraday low of $1,811.79 on Wednesday, which comes a day after trading at a peak of $1,869.34.

Similar to bitcoin, today’s slippage sees bearish pressure put a stop to a mini-win streak for the world’s second largest cryptocurrency.

Ethereum chart by TradingView

Should this downwards pressure continue to gain momentum, there is a good chance that ETH could move below $1,800 shortly.

Price strength is currently tracking at 46.09, with a floor at 44.00 a potential landing stop in the event of further declines.

Long-term bulls will remain optimistic however, with an upwards crossover of the 10-day (red), and 25-day (blue) moving averages on the cusp of happening.

#googleai #Binance #googleai #BNB #BTC

Shiba Inu climbed to a two-week high on Tuesday, as bullish sentiment returned to cryptocurrency markets. The meme coin rose by as much as 2% in today’s session, as the global crypto market cap surged by the same amount. BNB was another notable gainer today.

Shiba Inu (SHIB)

Shiba inu (SHIB) rose to a multi-week high in today’s session, as bullish sentiment returned to cryptocurrency markets.

Following a low of $0.000008759 to start the week, SHIB/USD jumped to a peak of $0.000009067 earlier in the day.

As a result of the move, SHIB climbed to its strongest point since May 10, when price hit a high of $0.00000930.

SHIB/USD – Daily Chart

One of the catalysts of the surge appears to be a breakout which took place on the relative strength index (RSI).

The index moved beyond the ceiling of 40.00, and as of writing is now tracking at 40.83.

Should bulls continue to control sentiment, there is a chance they target an upcoming ceiling of 46.00 on the index.

BNB

BNB was another notable gainer on Tuesday, as prices rebounded from a key support level.

BNB/USD rose to an intraday high of $315.21 in today’s session, 24 hours after hitting a low of $309.13.

Overall, this recent run, which has seen BNB climb for two consecutive days, comes after a failed breakout of a floor at $302.00.

BNB/USD – Daily Chart

Due to today’s uptrend, the RSI is now on the verge of colliding with a key resistance of 49.00.

As of writing, the index is tracking at 48.95, with earlier bulls possibly preparing to take profits.

#BinanceTournament #binancepizza #googleai #BNB #BTC

Bitcoin Pizza Day, celebrated on May 22nd, is a global event cherished by the crypto community. Let's dive into the story behind this special day.

Back in 2010, when Bitcoin was still in its early stages, Laszlo Hanyecz made a groundbreaking decision. He exchanged a whopping 10,000 Bitcoins for two pizzas from Papa John's, marking the first-ever real-world purchase using cryptocurrency. Little did he know that this act would go down in history as a pivotal moment for Bitcoin.

Since that momentous occasion, Bitcoin Pizza Day has become an annual celebration for Bitcoin enthusiasts worldwide. It serves as a reminder of the early days of cryptocurrency when things were simpler and the community was smaller. It's a day to reflect on the remarkable journey of Bitcoin and to appreciate how far it has come since then.

While the initial value of those two pizzas was just $41, the astronomical rise in Bitcoin's price over the years has turned them into an incredibly valuable meal. Today, those pizzas would be worth a staggering $800 million! It's a testament to the tremendous growth and potential of Bitcoin as a digital currency.

Bitcoin Pizza Day not only commemorates a pivotal moment but also symbolizes the ongoing progress and bright future of Bitcoin. It's a time to celebrate the advancements made in blockchain technology, the growing developer community, and the increasing adoption of cryptocurrencies.

As we honor Bitcoin Pizza Day, let's appreciate the pioneers who took the leap of faith and sparked interest in Bitcoin and blockchain. Let's also acknowledge the breakthroughs and milestones achieved by those trailblazers, making blockchain adoption, education, and development more seamless.

So, whether you're a long-time Bitcoin enthusiast or just beginning your journey in the crypto world, I hope you had a fantastic Bitcoin Pizza Day! It's a day to celebrate, reflect, and look forward to the continued growth and innovation in the fascinating realm of cryptocurrency.

On a personal note, if I could travel back to May 22nd, 2010, and possess those 10,000 Bitcoins, the possibilities would be endless. However, it's interesting to contemplate the "what if" scenarios and imagine how different things would be if we held onto those Bitcoins. Nonetheless, the significance of Bitcoin Pizza Day lies in the fact that someone took a leap of faith and made a purchase that sparked interest in Bitcoin and blockchain technology.

As we continue to witness breakthroughs and milestones in this space, it's evident that pioneers are trailblazing the path to seamless blockchain adoption, education, and development. The journey has been remarkable, and there's still much more to come.

So, on this Bitcoin Pizza Day, let's celebrate the progress, appreciate the achievements, and look ahead to the future of blockchain and cryptocurrencies. It's a time to embrace the transformative power of technology and the endless possibilities it brings to our world. Cheers to Bitcoin Pizza Day and the ongoing evolution of the crypto landscape!

#binancepizza #feedfeverchallenge #Binance #crypto2023 #BNB

Non-fungible token (NFT) sales witnessed a minor rise last week, registering a humble increase of around 1.46% compared to the preceding week. The cumulative value of NFT sales amounted to $149.31 million from April 29 to May 6, 2023. Nevertheless, the most recent week exceeded anticipations, as sales skyrocketed by 31.22%. Throughout the seven-day interval, NFT sales attained $208.17 million. The substantial rise in this week’s NFT sales can be credited to the appearance of NFTs originating from the Bitcoin blockchain.

Bitcoin-Based NFT Sales Gain Significant Momentum

Bitcoin NFT sales have emerged as a key contributor in the digital collectible sales landscape, among 21 distinct blockchains as per cryptoslam.io data documented on May 14, 2023. Ethereum NFT sales continued to reign supreme with $111.26 million in NFT sales; however, the runner-up position was held by Bitcoin-based NFTs, also known as Ordinal inscriptions.

NFT sales over the last seven days according to cryptoslam.io statistics on May 14, 2023.

Data demonstrates that Bitcoin NFT sales secured $53,433,451 and clinched the second-place position regarding blockchain sales out of the 21 chains. Bitcoin’s NFT sales leaped by 187.54% compared to the prior week.

The top five blockchains in terms of NFT sales on May 14, 2023.

Mythos blockchain’s NFTs also experienced a sizable boost as NFT sales climbed by 69.66% to claim $11.73 million this previous week. The ascent propelled Mythos into the third-largest rank considering top blockchains by NFT sales volume.

Solana, which formerly occupied the second-largest spot, now stands at fourth in terms of NFT sales per blockchain. In the last seven days, Solana recorded $8,789,106 – a reduction of 21.16% compared to the previous week. The fifth blockchain with the greatest sales volume for this past week was Polygon’s $7.79 million, decreasing by 7.07%.

The top five NFT collections in terms of sales on May 14, 2023.

Regarding NFT collections, cryptoslam.io data discloses that “Uncategorized Ordinals,” essentially random Ordinals not part of any collection, achieved the top collection status in sales this week. Uncategorized Ordinals managed to register $15.62 million in NFT sales.

Ethereum’s Bored Ape Yacht Club (BAYC) claimed the second spot this week with $13.80 million in overall sales within the past seven days. The Mythos chain’s Dmarket collection secured third place, and the majority of Mythos’ NFT sales stemmed from the Dmarket collection’s transactions.

#feedfeverchallenge #crypto2023 #dyor #Binance #BTC

Despite not being mainstream payment solutions yet, cryptocurrency-based payments (also known as Web3 payments) already bring benefits such as lower transaction fees, Robert Miller, the vice president of growth at Fuse, a layer 1, EVM-compatible blockchain for launching dapps, has asserted. For merchants, Web3 payments come with the added benefit of what Miller called protection from “fraudulent chargebacks.”

Crypto Payments Trump Traditional Payment Methods

To back his assertions, Miller claimed many of the merchants that are presently experimenting with or encouraging their customers to use Web3 payments are doing so because they are seeking a better deal than what they are getting from traditional payment providers.

Miller, however, conceded that Web3 payments are still at their infancy stages and as such they come with certain limitations which hinder their adoption. In his written responses to questions from Bitcoin.com News, Miller also highlighted the security challenges that users of Web3 payment methods must expect. In addition, the Fuse senior executive also reiterated the argument that self custody of private keys is the most ideal and safe method of storing one’s digital assets.

Bitcoin.com News (BCN): What are Web3 payments and why should online merchants care about Web3 payments at all?

Robert Miller (RM): Web3 payments refer to payments made using cryptocurrencies and blockchain technology. Online merchants should care about Web3 payments because they offer several benefits over traditional payment methods.

Firstly, cryptocurrency payments are faster and more secure due to the immutable nature of blockchain technology. Secondly, they have lower transaction fees, which can significantly increase a merchant’s profit margins. Thirdly, they allow for global reach and expand the customer base beyond geographic locations. Fourthly, accepting cryptocurrency payments can increase customer loyalty, as cryptocurrency enthusiasts prefer to support merchants who accept their preferred form of payment. Finally, in a world where money is being reinvented, accepting Web3 payments can enhance a merchant’s brand image as an innovative business that values cutting-edge technology and customer privacy.

Using a Web3 payments solution, we’re cutting off the middleman to our transactions – the banks, the payment processors, and the brokers. Web3 payments are entirely peer-to-peer and are built on trustless logical systems, meaning no one has to rely on a third party to facilitate the transaction. More vitally, businesses and online merchants allow instantaneous, borderless transactions with low fees depending on the amount sent or received.

BCN: Can you explain why an online buyer should opt for crypto payments over say Visa, Stripe or other traditional payment methods that are supported by merchants?

RM: Buyers should do whatever is most beneficial to them as a consumer at the time. If the offer is the same as yours and you prefer to use Visa, then you should use Visa. The merchant, in this case, will pay 3.5% on the transaction. Consider a business doing $1M/year in revenue – this is a potential $35,000 in Visa transactions fees alone, which is an insane amount of money.

This is why merchants are increasingly opting to experiment with Web3 payments, often offering discounts or loyalty programs through NFTs or tokens to encourage consumers to use the payment option that helps them save money and enhance the user experience.

BCN: The Bitcoin network has of late seen the number of unconfirmed transactions climb to over 200,000, something that has pushed the average network fee to nearly $20. Some have said such high fees render moot the argument supporting the use of crypto as a means of payment. Do you agree with this assertion?

RM: The high fees and long confirmation times of Bitcoin transactions have been a source of criticism for the cryptocurrency. However, it’s important to note that Bitcoin was not designed primarily as a payment system, but rather as a decentralized store of value.

While it’s true that the high fees and slow transaction times may make Bitcoin less attractive for small and everyday transactions, there are still many use cases where it can be valuable. Additionally, there are other cryptocurrencies and blockchain networks that are specifically designed for fast and low-cost transactions, such as Fuse, Polygon and Binance Smart Chain. These networks are more suitable for payment use cases.

BCN: Your blockchain project Fuse is said to be aiming to enable seamless and affordable crypto payments in daily life. From your standpoint, what do you think are the benefits of accelerating the mainstream adoption of Web3?

RM: When big companies like Starbucks, Nike, Adidas, and Mcdonald’s announce plans to experiment with Web3 payments, they typically throw down a multi-million dollar POC (proof of concept) budget and assign a dedicated team to run the project without it necessarily impacting other parts of the business in a big way. SMBs and startups cannot do this. So how do they ensure they participate in the paradigm shift of money?

Fuse provides simple-to-deploy, end-to-end integrated products, including a wallet SDK, ready-to-use APIs, and mobile wallet tools and infrastructure to level out the planning field and ensure that businesses that are the backbone of the economy can play a role.

BCN: What advantages do Web3 native solutions such as yours have over those offered by giants like Visa, Paypal, and Stripe?

RM: The future of digital payments lies in Web3 payment services. They offer a range of benefits over legacy payment systems, including reduced transaction fees, faster settlement times, increased security, borderless payments, and greater transparency and privacy. As Web3 payments continue to gain traction and become more widely adopted, they have the potential to transform the way we conduct transactions, making them more efficient, secure, and accessible.

Compared to traditional point-of-sale (POS) systems, accepting crypto payments offers several benefits, including lower transaction fees, merchant protection from fraudulent chargebacks, increased sales potential, and increased customer convenience. Additionally, there is a level of anonymity with crypto payments that some merchants and customers may find appealing.

The Fuse ecosystem includes 100 integration partners and has been built over three years to provide vital services and infrastructure designed to create a robust platform for mainstream crypto and Web3 payments adoption.

BCN: Your startup is said to have recently launched a $10 million Ignite Funding Program. What is the purpose of this fund and who are the intended beneficiaries?

RM: As part of our ongoing mission to bring Web3 payments to mainstream business adoption, we are dedicated to supporting both real-world and defi projects. The Ignite program comprises two main funding areas. The first is an on-chain defi incentives fund of $10 million, designed to improve the general financial health of the fuse ecosystem. The second is to support early-stage real-world builders on Fuse. The strong on-chain economic activity supports innovation aligned with our north star of achieving mainstream crypto adoption with payments. Innovation, in turn, supports strong economic growth and activity, creating a fly-wheel effect.

BCN: Just like any technology that is still in its infancy stages, Web3 payment platforms are susceptible to security threats and high costs. What is your word of advice for those using Web3 payment solutions for the first time?

RM: Web3 payments are still in their early stages and have certain limitations that must be considered before using them. Web3 payments may be prone to security threats and high transaction costs as several networks are yet to deal with these issues successfully. Luckily, Fuse does not have these issues and can process transactions in under 5 seconds for a cost of less than a cent.

Furthermore, acceptance by merchants is still a challenge, and there is a lack of understanding of the importance and impact of blockchain-related concepts. Scams and fraudulent activities occur everywhere, and staying safe and vigilant is essential while dealing with Web3 payment solutions. Never share private keys, double-check wallet addresses and networks before sending any crypto, and look out for scams or fake sales on social media.

Additionally, centralized exchanges may disappear and take your crypto with them, so owning your keys and using non-custodial wallets is vital. Finally, taxation is essential, and everyone dealing with Web3 payments must know how it is taxed in their region.

#feedfeverchallenge #crypto2023 #BTC #BNB #dyor

On May 7, 2023, the Bitcoin network was plagued with an overwhelming 500,000 unconfirmed transactions, causing a major bottleneck in the system. However, the good news is that the congestion has been clearing, resulting in a significant reduction in onchain fees, which have now dropped below $5. As of now, there are only slightly over 300,000 unconfirmed transactions awaiting confirmation, and 185 blocks need to be mined to clear the backlog.

Bitcoin Backlog Begins to Gradually Subside

Bitcoin has been the talk of the town lately, as it grapples with the challenge of meeting the demand for block space. Just four days ago, the mempool, which is the queue of unconfirmed bitcoin transactions, hit an all-time high, with over 500,000 unconfirmed transfers waiting to be processed.

This surge in demand can be attributed to the recent craze for Ordinal inscription, as well as the emergence of the BRC20 token economy. As of 7:00 a.m. Eastern Time on May 11, 2023, there are just over 300,000 unconfirmed transactions waiting for confirmation. To clear the current transaction queue, approximately 185 blocks need to be mined.

The good news is that the backlog is gradually clearing, resulting in a significant drop in onchain fees. Just a few days ago, on May 8, the average transaction fee skyrocketed to $31 per transfer. However, as of today, a high-priority transaction at 7:00 a.m. (ET) was a mere $3.00.

The drop from $31 to $3 per transaction represents a reduction of over 90%. In addition, recent statistics reveal that a low-priority transaction costs just $2.23, while a medium-priority transfer is priced at $2.65 per transaction. As of now, the block times have been averaging below the ten-minute mark, with an average of eight minutes and 28 seconds and nine minutes and 57 seconds.

The global hashrate is holding steady at 342 exahash per second (EH/s), and current estimates suggest that the difficulty may increase on May 18, in seven days. The projected difficulty rise is expected to be around 0.1% to 1.94%.

#feedfeverchallenge #crypto2023 #dyor #BNB #Binance