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$BTC Bitcoin’s price is renowned for being highly volatile, but despite that, it has become the top performing asset of any class (including stocks, commodities and bonds) over the past decade – climbing a staggering 9,000,000% between 2010 and 2020. When the cryptocurrency was launched at the beginning of 2009, as Satoshi Nakamoto mined the bitcoin genesis block (the first-ever block on the Bitcoin blockchain), 50 BTC entered circulation at a price of $0.00. Fifty bitcoin continued to enter circulation every block (created once every 10 minutes) until the first halving event took place in November 2012 (see below). Halvings refer to bitcoin’s issuance system, which was programmed into Bitcoin’s code by Satoshi Nakamoto. It essentially involves automatically halving the number of new BTC entering circulation every 210,000 blocks.
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#NFPCryptoImpact In early 2021, non-fungible tokens (NFT) became the first application of blockchain technology to achieve clear public prominence. NFTs are tradeable rights to digital assets (images, music, videos, virtual creations) where ownership is recorded in smart contracts on a blockchain. Given the NFT market emerged out of cryptocurrencies, we explore if NFT pricing is related to cryptocurrency pricing. A spillover index shows only limited volatility transmission effects between cryptocurrencies and NFTs. But wavelet coherence analysis indicates co-movement between the two sets of markets. This suggests that cryptocurrency pricing behaviours might be of some benefit in understanding NFT pricing patterns. However, the low volatility transmissions also indicate that NFTs can potentially be considered as a low-correlation asset class distinct from cryptocurrencies.
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#OnChainLendingSurge Blockchain technology has demonstrated the potential to revolutionize how business operations are performed in various sectors. By moving asset tracking and code execution onto a public, decentralized digital ledger, operations become more transparent, resilient, and censorship-resistant. One of the industries most impacted by the rise of blockchain technology is the financial sector, as demonstrated by the rapid growth in Decentralized Finance (DeFi) solutions. On-Chain Finance (OnFi) is another prime example of how blockchain technology is transforming the financial industry.
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#CryptoMarketDip Today’s crypto market decline is part of a correction that started during the early New York trading hours on Jan. 7 when Bitcoin BTC tickers down $95,108 lost the $100,000 level, as two stronger-than-expected US economic data prints quelled the early-year momentum by crypto assets. BTC price dropped as much as 6.35% to an intra-day low of $05,279 on Jan. 8. The decline in the pioneer cryptocurrency triggered panic selling among crypto investors, with prices dropping across the board. Ether ETH tickers down $3,348.16 lost all the gains made over the last seven days, dipping as low as $3,300 on Jan. 8, recording 10% losses over the last 24 hours.
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#BinanceMegadropSolv Binance has announced Solv Protocol (SOLV) as the third project on its Binance Megadrop platform. Solv Protocol, a Bitcoin staking protocol focused on building a Bitcoin-centric financial ecosystem, offers users the opportunity to participate in the SOLV Megadrop starting from January 7, 2025, at 00:00 UTC. The Megadrop page is expected to be available on the Binance App approximately 12 hours before the event begins. Following the Megadrop period, Binance will list Solv Protocol (SOLV) on January 17, 2025, at 10:00 UTC, introducing trading pairs including SOLV/USDT, SOLV/BNB, SOLV/FDUSD, and SOLV/TRY. The seed tag will be applied to SOLV at launch.
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