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Coinbase CEO Brian Armstrong has highlighted that crypto isn’t just here to say but it’s the future of money. Emphasizing that cryptocurrency “gives people economic freedom, ensuring access to their own money and fair participation in the economy ungated by powerful legacy institutions,” he detailed: “The industry has turned the page on the unlawful behavior that distracted from its progress; compliant growth is in.” ‘Cryptocurrency Isn’t Just Here to Stay’ The CEO of cryptocurrency exchange Coinbase (Nasdaq: COIN), Brian Armstrong, published a blog post titled “The future of money is here — and it’s crypto” on the company’s website Tuesday. He explained that after a “massive market correction,” crypto has witnessed a 90% increase in value this year, accompanied by a 60% surge in volume during Q4. He noted that currently, 425 million people globally own cryptocurrency and 83% of G20 countries and major financial hubs have either implemented or are in the process of establishing regulations to provide certainty for the industry. “With that kind of scale and momentum, innovation builds on itself,” he opined, emphasizing: Cryptocurrency isn’t just here to stay – it’s the future of money. “The industry has turned the page on the unlawful behavior that distracted from its progress; compliant growth is in,” he stressed. The Coinbase boss further shared that consumers increasingly desire faster, more accessible, and autonomous money movement, challenging traditional financial institutions. “They also want to move it cheaply, without powerful institutions gating their access and charging high fees and interest rates,” he described. “Today in the U.S., half or more of key consumers and voters are actively seeking alternatives to the current system … Crypto is helping to create a more open, more global system.” The executive detailed: SEC approval of spot bitcoin ETFs could spur new growth for crypto as an asset class. But as use of crypto has grown, so has its utility – from an asset class, to driving needed updates to the century-old financial system. Armstrong emphasized: “Around the world, more than 100,000 merchants and payment rails themselves take payment in crypto, including Paypal and Visa. Among the reasons why: lower fees, higher speed, and access to new customers.” Moreover, he pointed out that last year, “global onchain stablecoin transfers approached $9 trillion – more than Mastercard, Amex, and Discover combined,” noting that stablecoins “help currencies like the U.S.dollar exist in digital form.” The Coinbase CEO further detailed: “Countries with low economic freedom, such as Argentina, Brazil, and Nigeria, have among the highest usage rates of crypto payments and adoption as share of wealth (and are among the biggest populations in the world) … Workers living abroad use crypto to send remittances. About one in nine people globally depend on them. Crypto transfers, on average, are 96% cheaper than other transfers and take 10 minutes compared to up to 10 days.” Armstrong stressed, “Global financial centers like London, Switzerland, Hong Kong, and Singapore are transforming themselves into crypto hubs to claim the jobs and talent that a more open, more global system will bring,” concluding: Crypto gives people economic freedom, ensuring access to their own money and fair participation in the economy ungated by powerful legacy institutions – enabling people to build, create, and own their work. Do you agree with Coinbase CEO Brian Armstrong? Let us know in the comments section below. View the full article

Galaxy Digital, a digital assets and blockchain financial services company, is seeking to score deals with defunct cryptocurrency companies to acquire their assets. According to reports, the company is eyeing FTX’s venture capital portfolio, which has a sizable stake in artificial intelligence (AI) disruptor Anthropic, among others. Galaxy Digital Aiming to Complete Bankruptcy Sales for Disgraced Crypto Businesses Galaxy Digital, a cryptocurrency and blockchain financial services company, is targeting the asset sales of crypto businesses to grow its capital. According to a recent FT report, the firm led by American billionaire Mike Novogratz would be eyeing other crypto-bankrupt companies to facilitate the sale of their assets. The company, which was selected to sell FTX’s tokens, saw its assets under management (AUM) climb from $1.7bn to more than $5bn after this. The now-defunct exchange selected Galaxy due to his “extensive experience in areas relevant to digital asset management and trading.” Galaxy’s next target would be FTX’s venture capital portfolio, which has a sizable stake in Anthropic, a disrupting artificial intelligence (AI) company that has raised capital from Google and Amazon and has a valuation of over $18bn. Steve Kurz, global head of asset management at Galaxy, explained that Galaxy Digital qualifies for these tasks due to its experience and performance. He stated: We have a crypto venture team that has been investing off our balance sheet for five years. The record that we have on that side of our asset management business means we’d be a good candidate for something like that. Galaxy Digital, which is also seeking approval to offer a bitcoin spot ETF, is bullish on the future of bitcoin. Kurz declared: The world doesn’t understand the impact that these vehicles and a bitcoin ETF will have to bitcoin and crypto over time. Novogratz believes that a spot bitcoin ETF will be approved this year. What do you think about Galaxy Digital’s appetite for crypto from defunct businesses? Tell us in the comments section below. View the full article

The Central Bank of Brazil opened a new public consultation to obtain feedback for regulating the operations of virtual assets service providers (VASPs) in the country. The bank organized a questionnaire of 38 questions divided into different themes that can be partially, or fully answered until January 31, 2024. Central Bank of Brazil Seeks Input on VASP Regulation The Central Bank of Brazil is preparing to finally issue rules for Virtual Assets Service Providers (VASPs) operating in the country. The institution opened a public consultation seeking input from market participants and individuals to prepare the rules VASPs would have to follow, according to the faculties it received since the approval and sanction of the cryptocurrency assets law in December 2023. The bank introduced a 38-item questionnaire that can be answered totally or partially, indicating the numbers and themes respondents want to address in their statements. Each question is part of a broader subject of the public consultation, including areas such as asset segregation and risk management, activities developed and virtual assets traded, hiring essential services, governance and conduct rules, cyber ​​security, providing information and protecting customers, transition rules, and general manifestations. The issue of asset segregation has significance, given that it was initially proposed to be part of the final text of the approved cryptocurrency assets law, but was finally left out due to the limitations it would impose on the operations that VASPs could conduct. Tax exemptions for mining projects leveraging renewable energy were also left out of the final text and might be affected by these rules. The public consultation process will be open until January 31, 2024, and all answers will be publicly available for review on the bank’s page. What do you think about the public consultation of the Central Bank of Brazil to regulate the operation of VASPs? Tell us in the comments section below. View the full article

Expanding the global reach of euro-based stablecoins, Circle has debuted its EURC token on the Solana blockchain, offering a fully reserved, euro-backed digital asset. Circle Expands its Stablecoin Portfolio With EURC Launch on Solana, Boosting Euro Integration in Digital Finance Circle, a leading stablecoin issuer, has announced the launch of its euro-backed digital currency, EURC, on the Solana blockchain. The addition of EURC to Solana’s platform is set to provide new options for users and developers in the realm of digital currency transactions. EURC is designed as a fully reserved, euro-backed stablecoin, aiming to facilitate global, instant settlement and 24/7 on-chain foreign exchange (FX) operations. Its launch on Solana, known for its high-speed and low-cost network, represents an expansion of Circle’s stablecoin offerings and a potential increase in access to the euro within the global digital asset market. 2/ $EURC is a fully reserved, euro-backed #stablecoin that expands access to the euro globally. Developers can build on top of EURC and $USDC on @solana to deliver new applications for always-on FX, payments, cross-border remittances, and financial services. — Circle (@circle) December 18, 2023 Several decentralized finance (defi) protocols and digital wallets on the Solana network have already added support for EURC. These include Jupiter Exchange, Kamino Finance, and many more. Digital wallets such as Coinbase Wallet, Glow Wallet, Phantom, and Solflare Wallet are also set to provide support for EURC. The launch brings the number of blockchain networks supporting EURC to four, with Solana joining Avalanche, Ethereum, and Stellar. This expansion reflects Circle’s continued strategy to diversify its stablecoin offerings across various blockchain ecosystems. Stablecoins like EURC play a crucial role in the digital asset market, serving as a link between fiat currencies and crypto assets. They support trading and transactions on blockchain networks and offer alternatives to traditional banking methods, particularly in regions with unstable financial systems. Analysts anticipate significant growth in the stablecoin market, currently valued at around $130 billion, as more platforms integrate these digital tokens. EURC’s market capitalization currently stands at approximately $55 million, in contrast to the larger USDC market capitalization of $24 billion and Tether’s USDT at $90 billion. Tether additionally provides a token linked to the euro, known as EURT. Currently, the circulation of EURT stands at 36.38 million. Circle plans to align EURC with the upcoming EU digital asset regulations for Markets in Crypto-Assets (MiCA), positioning it as a regulated e-money token. Circle’s move to introduce EURC as a regulated e-money token is one of the latest moves to differentiate it from its competitors in the increasingly crowded stablecoin market by positioning it as a leader in the compliant and secure issuance of stablecoins. Will the EURC take away market share from the dominance of the dollar-denominated stablecoin market? Share your thoughts and opinions about this subject in the comments section below. View the full article

Crypto exchange Coinbase is winding down Givecrypto, a nonprofit set up to provide crypto to those in need. “Over the years, Givecrypto distributed cryptocurrency to thousands of individuals in need,” Coinbase said. However, the exchange admitted: “We were unable to create lasting change purely through unconditional cash transfers.” Coinbase Drops Givecrypto Cryptocurrency exchange Coinbase (Nasdaq: COIN) announced Friday that it is winding down the Givecrypto initiative, a nonprofit funded by its CEO, Brian Armstrong, to provide crypto to those in need. The announcement details: Despite the positive impact it has had, we were unable to create lasting change purely through unconditional cash transfers. Givecrypto has been one of Coinbase’s charitable programs dedicated to “increasing economic freedom worldwide,” the firm described, emphasizing: “After much consideration, we have recognized that we need to take a new direction.” Armstrong introduced Givecrypto in June 2018. The executive described in a blog post at the time that its mission “is to financially empower people by distributing cryptocurrency globally.” He added that “Initial recipients will be people living in emerging markets, especially those going through financial crisis.” However, a Fortune article published in September 2022 details how “Coinbase’s $1 billion crypto philanthropy ambitions left a trail of disappointment and workers in the lurch.” Coinbase’s Friday announcement explains: Over the years, Givecrypto distributed cryptocurrency to thousands of individuals in need, with measured short-term improvements in their outcomes. We also validated how cryptocurrency makes it easier to send small amounts of money across borders, directly to the intended recipient instead of through middlemen. “Unfortunately, we were unable to create a lasting impact with recipients, who returned to the same baseline after payment ceased,” the crypto firm stressed. According to Coinbase, all remaining Givecrypto funds will be donated to Brink and Givedirectly. The exchange noted: “Brink is working to strengthen the Bitcoin software and protocol and Givedirectly is better equipped to ensure crypto donations reach those who need them most and will experience sustained benefits.” What do you think about Coinbase winding down its Givecrypto initiative? Let us know in the comments section below. View the full article

Fueled by the explosive growth of the BONK meme coin, the Solana Saga phone’s market interest has soared, with units selling for up to $5,000 on Ebay, far exceeding its reduced price of $599 Saga Phone Resurgence: BONK’s Rise Turns Solana Device Into Hot Commodity The Solana Saga phone, once struggling to find its market, has seen its fortunes reversed this week, with units selling for as much as $5,000 on Ebay, a staggering increase from its discounted price earlier this summer. This dramatic shift in demand is primarily attributed to the explosive rise of the Solana-based meme coin, BONK, which experienced more than a 10,000% surge in the past two months. The Saga phone, initially released earlier this year with a price tag of $1,000 and later reduced to $599, had faced disappointing sales and an uncertain future. Solana founder Anatoly Yakovenko had previously admitted that Saga’s disappointing sales figures had put Saga’s future into question. However, the recent frenzy around BONK, a dog-themed meme token, has changed the narrative. Last week, traders and enthusiasts took notice of a 30 million BONK token airdrop included with every new Saga phone. As BONK’s price skyrocketed, reaching a peak surge of over 621% over the past month, the value of the airdrop surpassed the cost of the phone, leading to an unexpected sell-out of the Saga phones on the official website. The Saga is SOLD OUT! Words cannot describe how much we appreciate your support. We are nothing without this amazing community While these past few days will be cemented in our history, we’re excited for the future Stay tuned pic.twitter.com/KJje8lBDLL — Solana Mobile (@solanamobile) December 16, 2023 On Ebay, several Saga phones have been sold for over $2,000, with some listings reaching as high as $5,000. This demand spike is a clear indication of the market’s response to the rising value of BONK and the potential for further appreciation. Buyers appear to be betting on the continued upward trajectory of the meme coin, hoping that its value will climb even higher. The BONK phenomenon has already attracted the attention of other Solana-based projects. Solend, a decentralized finance protocol, and Samoyed Coin, another meme token, announced plans for airdrops to Saga phone holders, further incentivizing ownership. With Saga’s recent success, will there be a follow-up phone in the future? Share your thoughts and opinions about this subject in the comments section below. View the full article

An institutional investor survey conducted by digital asset bank Sygnum indicates a shift from skepticism to advocacy, “with over 80% now agreeing that crypto has an important role to play in the global financial industry,” said the bank’s digital asset research manager. “It’s now truly becoming a trusted gateway that is rapidly transforming the economic landscape.” Sygnum’s Institutional Investor Survey Digital asset bank Sygnum launched its inaugural institutional crypto market report last week. The report, titled “Future Finance 23,” features an institutional investor survey the bank conducted at the beginning of Q4 with more than 150 respondents possessing an average of over 10 years of investment experience. They included Sygnum’s institutional client base and equity investors, banks, hedge funds, multi and single-family offices, foundations, and asset managers. According to the survey, 87% of respondents invest in “blockchain protocol tokens like bitcoin, ethereum, and solana (Layer 1 protocols).” In addition, 57% of respondents plan to increase their crypto asset allocation in the future. Regarding why they invest in crypto, the report notes that 66% of respondents said it’s to “gain exposure to the crypto megatrend” while 46% cited portfolio diversification as their investment driver. Sygnum described: This illustrates ongoing institutional adoption and growth of hybrid traditional-crypto portfolios, as well as a deepening knowledge of blockchain technologies. Moreover, among respondents who plan to maintain or increase their crypto asset allocations, 62% expect higher future returns. Meanwhile, 37% of investors “consider crypto a superior investment than traditional assets, demonstrating its attractiveness as a traditional-market hedge,” the report details. “Direct token investments remain the top choice for all respondents, indicating a clear preference for investment via direct ownership of tokens and generating yields through staking. This preference might shift as financial products continue to evolve and diversify.” Sygnum Digital Asset Research Manager Lucas Schweiger, the report author, commented: As the crypto industry has evolved, many institutional investors have also evolved from sceptics to evangelists, with over 80% now agreeing that crypto has an important role to play in the global financial industry. It’s now truly becoming a trusted gateway that is rapidly transforming the economic landscape. Fabian Dori, Chief Asset Management Officer and Sygnum Group Deputy CEO, opined: “Over 85% of institutional crypto investors in our study believe that being regulated is essential to building trust. This is further confirmation that Sygnum’s founding strategy to be fully regulated from day one in all our regions was the right one.” What do you think about this institutional investor survey? Let us know in the comments section below. View the full article

The CEO of asset management firm Vaneck expects the U.S. Securities and Exchange Commission (SEC) to approve multiple spot bitcoin exchange-traded fund (ETF) applications in one day. “I very much expect it will be all in one day because that’s what happened with the ethereum futures,” he explained. Vaneck’s CEO on Spot Bitcoin ETF Approvals Jan van Eck, the CEO of asset management firm Vaneck, shared his bitcoin outlook and expectations around spot bitcoin exchange-traded funds (ETFs) in an interview with CNBC on Friday. Vaneck is among the asset managers that have applied to launch a spot bitcoin ETF with the U.S. Securities and Exchange Commission (SEC). “I think bitcoin is the obvious asset that is growing up in front of our eyes,” the executive began, adding: “There are 50 million users of bitcoin so it’s got the network effect.” He emphasized: I think it’s impossible for me to imagine some other, what I call, internet store of value that’s going to leapfrog bitcoin. The executive expects bitcoin to outperform gold, fueled by their shared sensitivity to interest rates. “Interest rates are headed down directionally speaking so the macro behind bitcoin and gold are very strong,” he opined, adding that gold and bitcoin perform similarly. “They both peaked in 2021. They’ve both been rallying this year. Obviously, bitcoin way more than gold for different reasons,” he said. The Vaneck boss also noted that the upcoming halving in April is “great for bitcoin,” emphasizing that he expects the cryptocurrency to hit all-time highs in the next 12 months. His firm also recently released its 15 crypto predictions for 2024, highlighting that BTC should reach an all-time high after Donald Trump wins the U.S. presidency. Regarding whether the SEC will approve one spot bitcoin ETF at a time or whether the regulator will approve multiple applications in a batch, the Vaneck CEO said: I very much expect it will be all in one day because that’s what happened with the ethereum futures. He believes that the SEC does not want one company to “have an unfair advantage,” so it will likely “let everyone start at the same time.” Several others share similar expectations. The analysts at JPMorgan Chase, for example, said in September that they expect the SEC to approve multiple spot bitcoin ETFs at once. However, the investment bank warned that spot bitcoin ETFs could put severe downward pressure on the price of bitcoin. There are currently 13 spot bitcoin ETF applications pending at the SEC. The chairman of the securities regulator, Gary Gensler, stated last week that the agency is taking a new look at these filings. Do you agree with the Vaneck CEO? Let us know in the comments section below. View the full article

An executive at trillion-dollar asset manager firm Franklin Templeton expects bitcoin to become “something that every treasury needs to hold.” She believes that “every country is going to have to hold some reserves,” emphasizing that the cryptocurrency is “working its way increasingly into the traditional banking ecosystem as just a foundational part of that system.” Kaul: Bitcoin Could Be Used as Base Unit of International Trade Franklin Templeton’s senior vice president and head of Digital Asset and Industry Advisory Services, Sandy Kaul, discussed the future outlook for bitcoin in an interview with Natalie Brunell, published Thursday. Before joining Franklin Templeton, Kaul held positions at Shearson Lehman Brothers, Citi, and Goldman Sachs Asset Management. A global leader in investment management with a presence in over 150 countries and serving millions of clients, Franklin Templeton reported $1.37 trillion in assets under management at the end of September. The asset manager has also applied to launch a spot bitcoin exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission (SEC). Regarding the broader adoption of bitcoin and the potential for nation states to embrace it, the executive said: “I think you’re already starting to see that.” She explained that less developed nations combine “some of their buying power around bitcoin” and use it “as a way to compete more effectively with bigger companies and bigger countries and bigger economies.” Emphasizing, “I think you’ll see more of that,” Kaul stressed: I think also that it’s going to become something that every treasury needs to hold because portions of their business will just be facilitated more easily through bitcoin payments than through foreign exchange conversions that need to happen to enable cross-border trade today. While noting that a lot of people see promises in central bank digital currencies (CBDCs) as “there will be a lot of efficiencies that get created by them,” she argued: “But those are going to still require all of that translation, and exchange rate risk that you carry in moving from country to country whereas a bitcoin is a bitcoin in every country.” Kaul opined: “So I do still think that the potential to see this used as the base unit of international trade exists. I think at a minimum you are gonna see it used for certain types of trade.” She asserted: That means that every country is going to have to hold some reserves and so I just see it working its way increasingly into the traditional banking ecosystem as just a foundational part of that system. She concluded: “I think the question then just becomes: ‘Over time do people start to gravitate more to something that works globally and isn’t tied to any government’s policies? And that I think we’ll have to see play out. But intuitively, it feels like it absolutely could.” Do you agree with Franklin Templeton’s head of digital asset research? Let us know in the comments section below. View the full article

As the year winds down, cryptocurrency investors can combine tax-loss harvesting with cryptocurrency donations to charities, a move that optimizes tax benefits while supporting worthy causes. Embrace Year-End Tax Strategy With Charitable Giving Twist As the end of the year rapidly approaches, crypto investors are not only focusing on tax-loss harvesting but also exploring the benefits of charitable contributions in cryptocurrency. This strategic approach allows investors to potentially reduce their tax liabilities while supporting charitable causes. The concept of tax-loss harvesting in the crypto realm involves selling digital assets at a loss to offset capital gains taxes. This method can be particularly advantageous given the volatility and potential for significant price fluctuations in the crypto market. Investors can offset capital gains or reduce ordinary income by up to $3,000 annually in the U.S., with the ability to carry forward any additional losses. In parallel, donating bitcoin (BTC) and other cryptocurrencies to charities has emerged as a tax-efficient method of supporting philanthropic causes. The IRS classifies cryptocurrency as property, which means that donations can be tax-deductible to the fullest extent permitted by law. A key advantage of this approach is that donating cryptocurrency directly to a charity allows the donor to potentially avoid capital gains taxes that would be incurred if the crypto were sold and then donated in cash. Additionally, donors can typically deduct the fair market value of the crypto at the time of donation. Organizations like The Giving Block are at the forefront of facilitating crypto donations. They provide platforms for donors to contribute various cryptocurrencies, including BTC, ETH, and USDC, to a wide array of charitable organizations. The Giving Block’s initiatives demonstrate the growing acceptance and use of cryptocurrency in the nonprofit sector, offering a tax-efficient avenue for donors. The process of donating cryptocurrency is designed to be simple and secure. Donors can choose from a vast selection of charities, select the crypto asset and amount for donation, and complete the transaction via a wallet address provided by the charity. Additionally, donors have the option of remaining anonymous while still receiving a receipt for tax purposes. Crypto philanthropy has seen significant endorsements from leading figures in both the crypto and nonprofit sectors. High-profile donations, like Vitalik Buterin’s $1B SHIB donation and the Pineapple Fund’s 5,500 BTC contribution highlight the potential impact of such charitable acts. As the end of the financial year looms, crypto investors are encouraged by advisors to consider a combined approach of tax-loss harvesting and charitable giving. This strategy not only offers potential tax benefits but also contributes positively to societal causes. With organizations like The Giving Block and others facilitating these donations, the process of contributing to charities through crypto assets is becoming increasingly mainstream, allowing investors to support causes they care about while optimizing their tax positions. Are you planning on employing a tax-loss harvesting strategy and/or giving to a charity? Share your thoughts and opinions about this subject in the comments section below. View the full article

PRESS RELEASE. Renowned Italian football goalkeeper Gianluigi Buffon has recently confirmed his strategic investment in OQtima, an innovative online trading company, marking a significant departure from traditional sponsorship deals. Buffon’s active involvement in OQtima signifies a profound collaboration between the realms of professional sports and financial trading platforms. This move establishes a new era where sports legends become not only brand ambassadors but key stakeholders and strategic partners in the financial sector, thereby revolutionizing the landscape of partnerships. A New Age For Partnerships In a groundbreaking development at the crossroads of finance and sports, partnerships between online trading platforms, cryptocurrency exchanges, and sports icons are undergoing a transformative shift. Many trading platforms and cryptocurrency exchanges are increasingly partnering with sports legends like Buffon, Lionel Messi, Cristiano Ronaldo, and more due to their resilience, determination, and strategic prowess, all of which are qualities mirroring those essential in trading and investment. Such collaborations leverage the high-profile status of sports figures to enhance credibility and visibility, particularly in the cryptocurrency sector, where trust is absolutely paramount. OQtima Emerges OQtima’s emerging prominence and potential in the forex and crypto markets shouldn’t be overlooked. Buffon’s investment aligns with the platform’s overall vision, user-centric approach, and dedication to technological advancement, reflecting a belief in OQtima’s ability to influence the trading and cryptocurrency landscape significantly. While sports legends bring unique insights and experiences, investors must still balance the allure of celebrity endorsements with the need for financial literacy and informed decision-making. The collaboration between sports icons and financial platforms goes beyond traditional advertising, shaping a narrative of success, discipline, and excellence. The community anticipates that this trend encourages a more informed and engaged investor base. While endorsements signal credibility, they should not substitute personal financial education and due diligence. Buffon’s involvement emphasizes the importance of understanding the nuances and risks of trading and investments. Buffon’s Perspective & Notable Features In Buffon’s own words, “I use OQtima because it is a fantastic tool. It allows users to work effectively, offers a wide range of CFDs, assets in different markets, and a competitive spread. As a minor shareholder, I believe in the platform and enjoy being a part of it.” As the convergence of sports and finance evolves, stakeholders look forward to a responsible approach to investments that combines the charisma of sports legends with financial education and diligence. In addition to crypto and forex markets, OQtima provides access to other markets such as indices, shares, metals, energies, and ETFs (Exchange Traded Funds). The platform also has Private VPS and Swap-Free account services available. Users can also find easy and accessible deposit methods while their funds are safely stored in segregated client accounts in top tier 1 banks in both Australia as well as the United Kingdom. Other notable aspects of OQtima include the highly popular MT4 trading platform as well as cTrader which offers advanced trading features alongside seamless forex trading possibilities. There is also a useful Help Center and customer support options including direct call and email. About OQtima OQtima is an innovative online trading company committed to providing users with effective tools for a wide variety of trading-oriented activities. With this platform, users can spend their hard-earned money in their own way while also enjoying multiple deposit and withdrawal methods alongside many trusted funding channels with no fees. The team has over 30 years of relevant industry expertise, through which they aim to bring OQtima to the forefront of digital trading by creating customized trading experiences for traders of all levels. The team recognizes that every trader has unique requirements, so they strived to create the best trading environment for each individual. The mission is to therefore maintain a high-quality and safe trading environment that reflects excellent customer service and client-to-business interaction at all times. With strategic investments from sports legend Gianluigi Buffon, OQtima aims to redefine the intersection of sports and finance. For more information, visit OQtima’s official website. This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release. View the full article

On Dec. 18, 2023, a colossal cache of dormant bitcoins stirred after remaining inactive for eight years and ten months. The whale transferred 2,101 bitcoins, originating from 2015, now valued at $88.55 million, utilizing the prevailing BTC exchange rates. $88M Worth of Bitcoin Moved by Long-Dormant Whale On Feb. 17, 2015, a substantial accumulation of dormant bitcoins was first recorded. This stash came to life after eight years and ten months on a Monday, with the whale from past years moving 2,101 BTC valued at $88.55 million at block height 821,802. The transfer originated from the BTC address “1DJs7,” a movement that was detected by btcparser.com. Back in 2015, when 1DJs7 initially received the 2,101 BTC from “1CJee,” the total value stood at $510,543, with each bitcoin priced at $243. The wallet 1CJee had acquired these bitcoins a year earlier, on August 7, 2014, sourcing them from two separate addresses. Fast-forward to the present, this long-inactive P2PKH address distributed the bitcoins to two new addresses. Around 1,762.99 BTC was sent to another P2PKH address (1GtUy), and 338 BTC was transferred to a Bech32 (bc1qj) address, which uses the Segwit address format. As of this writing, the combined $88 million in bitcoin at these addresses remains untouched. The whale spent around $26.77 or 290 satoshis per virtual byte to send the $88 million. The whale displayed little concern for privacy, as evidenced by Blockchair’s privacy tool, which rated the transaction a mere 0 out of 100, citing matched address identification and other security lapses. Though not as vintage as 2011 or 2010 coins, the 2,101 ‘sleeping BTC’ represented a significant cache. Furthermore, on Dec. 15, 2023, four seven-year-old addresses (1, 2, 3, 4) from October and December 2016 became active, totaling a transfer of 734.98 BTC. This activity, worth $30.93 million, likely originated from the same entity, with the initial two transactions confirmed at block height 821,361 and the latter two at 821,367, occurring simultaneously. It remains uncertain whether the whales from 2015 and 2016 have sold their holdings or merely shifted them for enhanced security or address updates. Such movements by whales are often shrouded in mystery, leaving the community speculating. However, a notable trend is emerging: numerous so-called ‘sleeping bitcoins’ are reawakening, stirring curiosity and speculation in the crypto world. What do you think about the 2015 whale that moved 2,101 BTC after sitting idle for so long? Share your thoughts and opinions about this subject in the comments section below. View the full article

In a recent announcement, Shakepay, the Canadian crypto app, disclosed a data breach involving unauthorized access to personal information of a select group of its customers. The breach, detected on Dec. 13, 2023, compromised data but did not affect any bank accounts, crypto wallets, or customer credentials. Shakepay Addresses Data Breach Concerns, Offers Free Credit Monitoring to Impacted Users The breach at Shakepay, which offers commission-free services for trading bitcoin (BTC) and ethereum (ETH), was identified following unusual activity on an employee’s work device. Shakepay’s security team quickly responded, deauthenticating and removing the compromised device from their network. This action was part of the company’s incident response protocol, aimed at minimizing the impact of such breaches. Shakepay’s investigation revealed that the breach, active between March and December 2023, resulted in the extraction of personal details of a small customer segment. Potentially exposed information includes names, emails, addresses, birth dates, phone numbers, occupations, trusted contacts, account balances, and transaction history. This incident highlights the growing challenges faced by digital currency platforms in safeguarding user data. Several individuals on the social media platform complained. “Nobody can protect your data,” one person responded to Shakepay’s announcement on X (formerly Twitter). “I don’t care how good of a company you are. The weak link employee will get owned. KYC information = future stolen information. Also March to December? Thats bad opsec.” Another person wrote: So your company is responsible for doxxing a bunch of people that trusted you. Following the breach, Shakepay said it advised customers to be vigilant of fraudulent activities. Recommended protective measures include upgrading to stronger account security methods like two-factor authentication, being cautious of suspicious communications, and changing passwords. The company has emphasized the importance of logging in only through official channels and using unique, strong passwords. To support affected customers, Shakepay disclosed the company has implemented additional security measures and is offering two years of free credit monitoring to help mitigate risks of identity theft. The company has established a dedicated email address for affected customers and is actively engaging with law enforcement and regulatory authorities to investigate the breach and prevent future incidents. “Your trust is the most important thing for us at Shakepay and we will do everything we can to maintain it,” the company’s message concluded. “Please know that the security of your money and personal information is always our top priority, and we continue to carefully monitor the situation and use every recourse to protect your personal data and pursue bad actors.” What do you think about the Shakepay data breach incident? Share your thoughts and opinions about this subject in the comments section below. View the full article

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 transfer. Skyrocketing Bitcoin Fees Surpass $40 Bitcoin transaction fees are climbing and at the time of writing, a high-priority transaction tapped $40 just before 2 p.m. on Saturday, Dec. 16. Miners have been raking in the fees and an example of this is the fact that block height 821,485 came with 7.314 BTC in fees, which is over the size of the 6.25 BTC block subsidy. Presently, the hash price per petahash per second (PH/s) is coasting along at $108 per PH/s per day. The recent spike in Bitcoin’s transaction fees to $40 each significantly surpasses the previous 2023 record of $31 per transfer set on May 8. Data from mempool space reveals that for high-priority transactions, individuals are spending 674 satoshis per virtual byte (sat/vB), while for lower-priority ones, the cost is around 602 sat/vB or $35.78, as observed on Saturday afternoon. Notably, some transactions on Saturday have even exceeded $50 per transfer. Presently, there are eight unmined blocks, each brimming with high-priority transactions. Furthermore, 311 blocks are waiting to be processed to address the backlog of 383,607 unconfirmed bitcoin (BTC) transactions in the mempool. These pending blocks, amounting to over 531 megabytes (MB) of block space, translate to an estimated clearance time of just over two days and three hours, considering the average ten-minute block interval. The significant rise in onchain BTC fees has ignited a flurry of comments and discussions across social media, with numerous observers weighing in on the situation. “The average Bitcoin transaction fee is now $50 with 300,000 transactions waiting to be confirmed. This is beyond ridiculous and unusable,” Blockchair’s lead developer Nikita Zhavoronkov said. “Historically, this is the point when people start running away to alternative blockchains en masse.” Others were quite pleased with the high fees. “Remember all the [Ethereum] maxis who said Bitcoin had a security budget problem? It’s fixed,” Dan Held posted on X. Others talked about layer two (L2) solutions and whether or not they could alleviate the issue. “Bitcoin fees have crossed 600 sats/vB today. That’s a 600x increase in 1 year,” Muneeb Ali, the co-creator of Stacks said. “And you are still debating if devs want to build on Bitcoin, anon? Bitcoin L2s are becoming more critical every day.” “Will be great to see the L2s blossom in a higher fee environment,” Held responded to the Stacks executive’s X thread. “I think the bitcoin fees are reaching a tipping point to make this happen,” Ali replied. What do you think about the soaring Bitcoin network transaction fees? Share your thoughts and opinions about this subject in the comments section below. View the full article

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 level of concentration in bitcoin mining pools has been unprecedented since 2013, reminiscent of the era when Ghash and Btc Guild were the leading forces in hashrate dominance. Bitcoin Mining Power Shift: A Return to Dominance by Few Players Years back, the focus among bitcoin advocates was heavily on the centralization of bitcoin (BTC) mining pools, a topic that sparked considerable debate. Nowadays, though some voices still raise concerns over miner centralization, these issues have largely faded into background noise. For example, in the last three days, Antpool and Viabtc collectively generated 51.43% of Bitcoin’s entire hashrate, reigniting some discussions about this concentration. In 2023, the concentration of miners mirrors the situation in 2013, when mining pools like Ghash and Btc Guild held a commanding 55% share of the network’s total hashrate. A notable incident in March 2013 involved an accidental fork, leading to a majority hashrate being used to revert the Bitcoin software to a previous version. Btc Guild, controlling 20-30% of the hashrate, collaborated with developers to roll back the software, sacrificing their proof-of-work since the blockchain split. This action sparked significant discussion in the community. Arvind Narayanan and Ethereum co-founder Vitalik Buterin wrote about the event, with Buterin highlighting that the “incident opens up serious questions about the nature of the Bitcoin protocol and puts into the spotlight some uncomfortable facts about Bitcoin’s notion of ‘decentralization.’” Today’s miner centralization echoes that of 2013, sans the chain-splitting episode. Current dominating mining pools nearly replicate the hashrate control seen in Btc Guild and Ghash. This wasn’t the case in 2016 when the top two pools (Antpool and F2pool) only had 32.25% of the hashrate. Similarly, in 2017, 2018, and 2019, this level of centralization was not observed. However, in 2020, 2021, and 2022, bitcoin mining pools began to centralize again. In June 2022, Foundry USA and Antpool had a combined 38.47% of the total hashrate. Transaction Filtering Becomes an Issue Over the past three days, Antpool and Foundry collectively dominate 51.43% of the hashrate among more than 40 pools. Fascinatingly, an altcoin featured on several centralized exchanges might see its deposits halted or face delisting due to concerns that the blockchain may experience a significant reorganization. Concerns have shifted from potential 51% attacks to censorship within the hashrate and consensus discussions among bitcoiners. For instance, the U.S. Treasury’s Office of Foreign Assets Control (OFAC) has been blacklisting crypto addresses, and miners have the discretion to select which transactions to process. In May 2021, the North American mining company Marathon produced its first OFAC-compliant block but later abandoned this practice after Taproot’s introduction. Recently, it was discovered that F2pool was filtering transactions linked to OFAC-sanctioned addresses but ceased this after community pushback. F2pool remains the fourth largest mining pool currently. Moreover, Ocean Pool, supported by Jack Dorsey and led by Bitcoin Core developer Luke Dashjr, faced criticism for censoring transactions related to coinjoin privacy methods and Ordinal inscriptions. Despite a slight dip in hashrate following the backlash, Ocean’s hash power has stayed over 450 petahash per second (PH/s). Essentially, the evolving landscape of bitcoin mining, marked by fluctuating centralization and emerging concerns over transaction censorship, reflects a dynamic ecosystem and one that should be monitored with vigilance at all times. While the community grapples with challenges to Bitcoin’s decentralization ethos, decentralization advocates must ensure the ongoing debate continues regarding the network’s integrity and the future of bitcoin mining. How do you view the 2023 mining centralization reflecting the patterns observed back in 2013? Share your perspectives and insights on this topic in the comments section below. View the full article

Sales of non-fungible tokens (NFTs) have surged by 52.81% over the past week, reaching a total of $503.35 million. Bitcoin has emerged as the frontrunner in this week’s NFT market, generating $276.79 million in sales, surpassing Ethereum’s $99.67 million, which previously held the top spot. Bitcoin Once Again Outperforms Ethereum in Thriving NFT Market The total NFT sales this week, amounting to $503.35 million, saw Bitcoin accounting for more than half of this figure, with its $276.79 million representing 54.98% of the week’s total. This period also marked a significant rise in market activity, with a 199.44% increase in buyers and a 193.20% surge in sellers of NFTs, according to cryptoslam.io stats. Bitcoin’s performance in NFT sales was notably strong, with a 122.16% increase compared to the previous week, amounting to $276.79 million. Ethereum, while still significant in the market, saw a modest week-over-week growth of just 0.93%, totaling $99.67 million. Solana also showed a substantial rise in NFT sales, reaching $90.04 million, a 56.58% increase from last week. Meanwhile, both Polygon and Immutable X experienced declines in sales, dropping by 7.28% and 3.79% respectively, compared to the previous week. This week’s data highlights Bitcoin’s growing influence in the NFT sector, with eight of the top ten NFT collections, in terms of weekly sales, originating from the Bitcoin blockchain. The leading seven collections are all Bitcoin-based, while the eighth and ninth positions were held by Ethereum’s “Matr1x Kuku” and Solana’s “Tensorians” compilation, respectively. The most expensive NFT sale this week came from the Ethereum blockchain, with Fidenza #985 fetching $277K. Close behind was a Bitcoin-based NFT, an Ordinal inscription of a Van Gogh painting, which garnered $263K. Other notable sales originated from Solana, Avalanche, Cardano, and Polygon. Notably, while Bitcoin-based NFTs began to make their presence felt in the market in 2023, the trend of inscription-based collectibles has left a significant mark on the crypto industry. Throughout November and the first two weeks of December, Bitcoin has consistently outperformed Ethereum in NFT sales, a trend that is relatively rare in this domain. What do you think about the uptick in NFT sales and Bitcoin’s latest lead? Share your thoughts and opinions about this subject in the comments section below. View the full article

After the last adjustment that resulted in a slight 0.96% reduction, the upcoming difficulty retarget on Dec. 23, 2023 is anticipated to bring about an increase, eclipsing the previous decline, as the hashrate regains its upward trajectory. The seven-day average hashrate reached a low of 473 exahash per second (EH/s) on December 11, and has since ascended to 487 EH/s. Bitcoin’s Total Hashrate Regains Upward Momentum Alongside Hash Price Rise Barring any major shifts in the coming week, Bitcoin’s difficulty is poised for an upswing. Projections based on current data suggest an increase ranging from 1.64% to 4.5% on Dec. 23. According to data from Luxor’s hashrateindex.com, the hashrate is currently coasting along at 487 EH/s following a temporary dip last week. Presently, block generation times are fluctuating between 8 minutes and 6.6 seconds to 9 minutes and 35 seconds. Despite a decrease in BTC’s price per unit compared to its levels from Dec. 5-10, the network’s hash price has reached a peak of $112 per petahash per second (PH/s) per day. This spike is attributed to a significant rise in onchain transfer fees. On Dec. 6, the average transaction cost exceeded $27, and on Dec. 14, it soared to around $25 per transaction. Data from mempool.space reveals an accumulation of 230,000 to 265,000 unconfirmed transactions in the backlog from December 14-16, 2023. While Foundry USA initially led 2023 as the dominant mining pool, Antpool has since emerged as the frontrunner. As of Dec. 16, 2023, 46 identified entities are mining BTC, with Antpool dominating 27.31% of the total hashrate, contributing 138.80 EH/s to the Bitcoin blockchain. Foundry USA remains strong with 124.59 EH/s, accounting for 24.52% of the overall hashrate. Other notable competitors over the last three days include Viabtc, Mara Pool, and Binance Pool. In light of the escalating hashrate and the predicted rise in difficulty, bitcoin (BTC) miners are also preparing for the impending halving, which is now less than 19,000 blocks away. The current block reward stands at 6.25 coins, which will halve to 3.125 coins per block following the event. This significant change is expected to occur within the next 104 to 129 days, or from the end of March to sometime in April 2024. What do you think about the hashrate rising and the estimated difficulty increase? Share your thoughts and opinions about this subject in the comments section below. View the full article

The Central Bank of Lesotho recently confirmed that its payment system was attacked by unknown cybercriminals. The bank also acknowledged that the resulting downtime is making it “impossible for all local banks to honor inter-bank transactions in the country.” No Financial Loss Suffered The Central Bank of Lesotho (CBL) has stated that the cyber security incident on December 11, which reportedly knocked out the country’s entire payments system, did not result in “any financial or other loss.” However, the bank has “suspended some of its systems to prevent further infiltration from the attackers.” While the central bank has not shared details about the severity of the attack, one South African media outlet suggested that interbank and international payments routed through the country had gone offline. Another outlet suggested that the incident posed a threat to the stability of Lesotho’s financial system and the local currency’s exchange rate versus the South African rand. In a statement issued a day after the attack, the Lesotho central bank said it has since initiated an investigation into the incident and is working to restore normalcy. “Consequently, some payments may be delayed while the Bank works on getting the systems back to normalcy,” the CBL said. Meanwhile, in another statement issued on Dec. 13, the CBL, together with the Lesotho Bankers Association, confirmed that the downtime is making it “impossible for all local banks to honor inter-bank transactions in the country.” The two institutions have since agreed to undertake so-called business continuity processes and measures which are expected to help facilitate transactions between banks while work to restore normal service is underway. Register your email here to get a weekly update on African news sent to your inbox: What are your thoughts on this story? Let us know what you think in the comments section below. View the full article

Circle CEO Jeremy Allaire says in a complex geopolitical environment, bitcoin is an asset that investors should have some exposure to. He emphasized that “digital commodities are here to stay,” noting that bitcoin is the largest digital commodity asset. The executive also believes that stablecoins will be “explosive in terms of its growth in the coming years.” ‘Digital Commodities Are Here to Stay’ The CEO of crypto firm Circle, Jeremy Allaire, shared his bitcoin outlook in an interview with CNBC earlier this week. “Digital commodities are here to stay,” the executive began, emphasizing that “Bitcoin is the largest digital commodity asset.” He opined: In a complex geopolitical environment, a complex macroeconomic environment, this is an asset that you should have some exposure to. Allaire explained that many people who invest in bitcoin believe that the cryptocurrency “is a risk hedge asset.” He added that BTC “can be correlated to the availability of money supply but also can be uncorrelated,” noting that “It doesn’t fit every box, clearly.” The Circle executive also provided his outlook for stablecoins. Circle is the issuer of U.S. dollar-based stablecoin USDC. Allaire stated that dollar-based stablecoins can be a strong store of value and a medium of exchange that has all the power of the internet. Noting that stablecoins are a huge innovation, he opined: “I expect it to be explosive in terms of its growth in the coming years.” Many others believe that bitcoin is a risk hedge asset. Venture capitalist Tim Draper previously explained that he is bullish about bitcoin because “it’s a great hedge against inflation.” Famed hedge fund manager Paul Tudor Jones has said several times that bitcoin is his preferred inflation hedge over gold. Blackrock CEO Larry Fink detailed in July that bitcoin can hedge against inflation and “the onerous problems of any one country, or the devaluation of your currency, whatever country you are in.” Blackrock, the world’s largest asset manager, is currently seeking approval from the U.S. Securities and Exchange Commission (SEC) to launch a spot bitcoin exchange-traded fund (ETF). What do you think about the statements by Circle CEO Jeremy Allaire? Let us know in the comments section below. View the full article

The Bank of China Hong Kong, the second largest bank in the region, has completed its first cross-border digital yuan-based trade. The transaction, finalized with its sibling bank, the Bank of China, served to receive the payment for an imported iron ore commodity bulk trade, establishing the digital yuan as an option for this kind of settlement. Bank of China Settles $3.4 Million in Bulk Commodities Using the Digital Yuan The Bank of China has opened the path for companies to settle their cross-border payments using the Chinese central bank digital currency (CBDC), the digital yuan. The Hong Kong branch of the bank, the second-largest financial institution in the region, has achieved a milestone in serving as an intermediary for the settlement of a $3.4 million bulk commodity payment between Baosteel group, a steel and iron powerhouse, and Bao-trans Enterprises, a manufacturer of premium steel products. The Hong Kong subsidiary and its mainland-based branch set up digital yuan wallets to support this transaction, receiving the funds in the name of Bao-trans Enterprises as a payment for an order of imported iron ore. According to local press reports, this is the first time the financial institution has acted as an intermediary for a commodity bulk settlement using the digital yuan. Xing Guiwei, Bank of China Hong Kong deputy chief executive, praised the virtues of the Chinese CBDC in this kind of application. For Guiwei, the digital yuan can also be leveraged for the international settlements use case in addition to the retail payments scenario. Guiwei stressed this application contributes to extending the use of the digital yuan at an international level. He explained: The successful trial transaction can be helpful for the normalization of digital yuan usage among corporates and the further development of yuan internationalization. China has been advancing in the internationalization of its digital currency, as Standard Chartered started offering digital yuan exchange services in China in November, and the People’s Bank of China (PBOC) partnered with the Monetary Authority of Singapore (MAS) to allow tourists of both countries to spend digital yuan. What do you think about using digital yuan for cross-border commodities settlements? Tell us in the comments section below. View the full article

Bitcoin mining company Iris Energy Limited said on Dec. 15 that it expects to take delivery of 8,380 new-generation T21 miners from Bitmain. Delivery of the mining machines is expected to help Iris Energy fulfill its goal of increasing its self-mining capacity to 10 EH/s (exahash per second). Acquisition to Improve Overall Fleet Efficiency The Australian Bitcoin mining company Iris Energy Limited announced on Dec. 15 that it is set to acquire $22.3 million worth of 8,380 new-generation T21 miners from Bitmain Technologies Delaware Limited. Once installed, the T21s, together with S21s, are expected to improve the Bitcoin miner’s “overall fleet efficiency from 29.5 J/TH to 24.8 J/TH.” In a statement, Iris Energy said the shipment of the T21s is scheduled for the second quarter of 2024. Delivery of the mining machines is expected to help Iris Energy fulfill its goal of increasing self-mining capacity. “The company’s 80MW data center expansion at Childress remains on track to be progressively delivered from January 2024 through to Q2 2024, supporting the increase in operating hash rate from 5.6 EH/s to 10 EH/s,” the Bitcoin miner said. Iris Energy added that its 80MW data center expansion at Childress is on course to be “progressively” delivered starting in January 2024 through to Q2 2024. This is expected to support the increase in the operating hash rate. According to the statement, the purchase price for the Bitcoin miners, which translates to $14/TH (terahash), is payable in progressive installments. What are your thoughts on this story? Let us know what you think in the comments section below. View the full article

The government of Russia might allow crypto miners to sell their cryptocurrency like other exports such as gas. Ivan Chebeskov, deputy minister of finance, specified that this option was part of a bill to legalize cryptocurrency mining introduced in 2022, that could allow miners to proceed with these exports in the same way as with commodities. Russia Contemplates Regulating Crypto Exports The government of Russia is contemplating regulating cryptocurrency exports in the same way as commodities like gas. This endeavor would stem from a cryptocurrency mining bill introduced to the State Duma in November 2022. Ivan Chebeskov, deputy minister of finance, offered an update on this development during the “Cryptocurrency and the future of digital finance” forum. On this issue, Chebeskov stated: There is an option and a bill – to use the export of cryptocurrency as a product of mining activities. We developed a concept, a project so that a miner could export the product of what he mined, that is, cryptocurrency as an export product. Such a legislative initiative is also being formed in our country. The Bank of Russia and the Ministry of Finance are inclined to recognize cryptocurrency mining as a legal industry, contemplating using crypto as part of cross-border settlements. The bank had specified before that the cryptocurrency obtained should be sold in international exchanges to non-Russian nationals. According to statements from Anatoly Aksakov, the head of the State Duma Committee on the Financial Markets, this bill is projected to be approved next year. Nonetheless, it is still being worked on. Cryptocurrency mining has become a popular and lucrative industry in Russia, with reports indicating that up to $740 million in crypto assets were mined in 2022. A recent Rosfinmonitoring report also confirmed Russian interest in crypto, with the country registering more than 185,000 transactions in the first nine months of 2023, and volumes doubling the ones moved a year before. What do you think about the cryptocurrency mining dispositions of the Russian government? Tell us in the comments section below. View the full article

As of December 13, 2023, bitcoin’s price stands at $41,197, showcasing a dynamic interplay between various technical indicators. The cryptocurrency’s trading journey over the past 24 hours, oscillating between $40,712 and $41,957, highlights a state of cautious optimism among traders. Bitcoin Analyzing bitcoin’s (BTC) oscillators provides an essential snapshot of its current market stance. The relative strength index (RSI) at 56, Stochastic at 54, and commodity channel index (CCI) at 18 all align in a neutral zone. This neutrality signals a balanced market sentiment, with neither overbought nor oversold conditions prevailing. These indicators suggest a period of consolidation, with potential shifts contingent on broader market influences. The story told by bitcoin’s moving averages is one of subtle optimism. Similar to the past few weeks of analysis, the exponential moving averages (EMAs) over 10, 20, 30, 50, 100, and 200 days predominantly signal bullish sentiment, despite the 10-day EMA presenting some bearish sentiment. Conversely, the simple moving averages (SMAs) for these same periods also indicate positivity, including the 10-day SMA. This divergence in the shorter-term EMA reflects the inherent volatility and rapid shifts in market sentiment typical of crypto assets. Bitcoin chart by TradingView On the daily chart, bitcoin has shown a strong uptrend, moving from a low of $15,479 to a peak of $44,729. However, the appearance of a significant Dec. 10 red candle with a long upper wick suggests possible resistance to higher prices or profit-taking activities. The volume, not showing a significant increase, hints at a cautious approach by traders, possibly indicating a lack of strong buying conviction. A prudent strategy, as suggested by the daily chart, would be to await a retracement towards key support levels for entry points. These levels could be previous resistance points or moving averages not explicitly marked. For exits or profit-taking, one should monitor the peak prices or the emergence of bearish patterns like multiple long upper wick candles, indicative of potential reversals. The 4-hour chart offers a more granular view of bitcoin’s price action, confirming the uptrend seen in the daily chart. Post-peak, the cryptocurrency entered a consolidation phase, marked by volatility and relatively low volume, suggesting a lack of significant sell-off. Entry strategies could involve observing price behavior at current levels or waiting for a rebound from a support level, while an exit strategy might include setting a stop-loss just below the recent consolidation to mitigate the risks of a breakdown. Bull Verdict: The confluence of neutral to positive signals from oscillators and moving averages, coupled with Bitcoin’s resilient performance on the daily and 4-hour charts, points towards an optimistic outlook. The absence of clear overbought conditions and the cryptocurrency’s ability to sustain above key support levels paint a bullish picture. Bear Verdict: Despite the current stability, underlying bearish signals cannot be overlooked. The mixed signals from the 10-day EMA and the appearance of the Dec. 10 red candle with a long upper wick on the daily chart hint at possible resistance and profit-taking. Should Bitcoin fail to sustain its current levels and break below key support zones, this could trigger a bearish reversal. Register your email here to get weekly price analysis updates sent to your inbox: What do you think about bitcoin’s market action on Wednesday morning? Share your thoughts and opinions about this subject in the comments section below. View the full article

On Dec. 8 and 9, the University of Zimbabwe in partnership with the South Africa-based Mzansi Web3 Hub, held the learning institution’s inaugural blockchain hackathon. Taurayi Rupere, the chairman of the institution’s computer science department, said the hackathon’s goal is to produce “open-minded” developers who “think outside the box.” Overwhelming Interest in the Hackathon The University of Zimbabwe (UZ) recently partnered with South Africa-based Mzansi Web3 to hold the learning institution’s first hackathon. About 175 students from different faculties and stages of their courses registered to participate in the Dec. 8 and 9 hackathon. Taurayi Rupere, the chairman of the institution’s computer science department, told Bitcoin.com News that the hackathon’s goal is to produce “open-minded” developers who “think outside the box.” While organizers of the two-day event were initially targeting students from the computer science faculty, Rupere said the excitement sparked by the hackathon eventually forced his department to extend the invitation to students from other fields. During an interview, the UZ’s computer science department chairman discussed some steps that the university can take to help both students and non-students learn more about blockchain technology. “We need to run a course to conscientize the market itself, we need to do this for two or three months. We can also do this via the research projects that our students do,” Rupere said. He added that both the UZ and students are hopeful that the hackathon is not going to be a one-off event but the first of many more to come. Enhancing Younger Generations’ Understanding and Skills Shaheer Karrim, the founder of Mzansi Web3 Hub, told Bitcoin.com News that he is hopeful the educational initiatives his organization is currently undertaking in Southern Africa “will enhance the younger generations’ understanding and skills in blockchain technology.” They will also enhance “Africa’s active participation in the global digital revolution.” Karrim also spoke of the ongoing role of the Internet Computer Protocol (ICP) in making blockchain technology popular not just in Southern Africa but across the continent. He said: “The rise in blockchain technology adoption by African governments and corporates indicates a recognition of its potential to revolutionise various sectors. The Internet Computer Protocol, known for its advanced technological stack, is becoming increasingly popular worldwide.” According to Karrim, teaching the continent’s future generations about blockchain technologies will ensure that African countries’ youth are well-prepared to benefit from “the impending digital revolution.” Confidence Nyirenda, the lead ambassador of Mzansi Web3 Hub in Zimbabwe, said the purpose of this and upcoming hackathons is to introduce the Internet Computer Protocol (ICP) to students. Register your email here to get a weekly update on African news sent to your inbox: What are your thoughts on this story? Let us know what you think in the comments section below. View the full article

About 73 applicants who are seeking a license to offer crypto products in South Africa are already registered as accountable institutions with the Financial Intelligence Centre, an executive at the crypto exchange Luno has said. According to the Luno executive, this may be an indication that regulated financial institutions are planning to add crypto to their product offerings. Only a Few Non-Licensed Financial Service Providers Have Applied According to Tarris Arnold, the business development manager at the crypto exchange Luno, a majority of the entities that have applied for licenses to offer crypto-related products are financial institutions. This, according to Arnold, may be an indication that many regulated financial institutions plan to add crypto to their offerings. In his comments published by Techcentral, Arnold said only a few of the license applications received by the country’s financial sector watchdog, the Financial Sector Conduct Authority (FSCA), were submitted by non-licensed financial services providers. As reported by Bitcoin.com News on Dec. 3, the FSCA had received 93 applications from both licensed financial service providers and new applicants by Nov. 30. The Luno executive has now revealed that 73 of these applicants are already registered as accountable institutions with South Africa’s Financial Intelligence Centre. Remarking on the growing interest in crypto assets by institutions that are unconvinced by this asset class’s value proposition, Arnold said: “Even financial services companies that don’t buy into the fundamental value of crypto or its other use cases see value in the volatility associated with crypto assets. Volatility is beneficial as it often equates to greater profit margins. In addition, crypto is a non-correlating asset class and thus provides some mitigation for investments in traditional markets.” Meanwhile, the Techcentral report suggested that once the crypto space becomes a regulated industry, institutional investors such as pension funds will likely start investing in digital assets. Register your email here to get a weekly update on African news sent to your inbox: What are your thoughts on this story? Let us know what you think in the comments section below. View the full article