BUSD Stablecoin Drops from Top 10 Crypto Assets Amid Significant Decrease in Dominance
After Paxos announced that it would no longer mint the stablecoin BUSD, 4.98 billion BUSD stablecoins have been removed from circulation to date. The Paxos-managed stablecoin has also fallen out of the top ten crypto assets by market capitalization, slipping below dogecoin’s valuation with a market cap of around $11.12 billion, compared to the meme coin’s $11.24 billion.
Source
https://t.me/bitcoin_day
After Paxos announced that it would no longer mint the stablecoin BUSD, 4.98 billion BUSD stablecoins have been removed from circulation to date. The Paxos-managed stablecoin has also fallen out of the top ten crypto assets by market capitalization, slipping below dogecoin’s valuation with a market cap of around $11.12 billion, compared to the meme coin’s $11.24 billion.
Source
https://t.me/bitcoin_day
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💰 Bitcoin on-chain data highlights key similarities between the 2019 and 2023 BTC price rally
Bitcoin’s recent price rally from $16,500 to $25,000 can be attributed to a short squeeze in the futures market and recent macroeconomic improvements. However, while prices increased, data suggests many interested buyers (including whales) were left on the sidelines.
The recent rally to $25,000 shared many similarities with the 2019 bear market rally, which saw a 330% surge in Bitcoin’s price to highs around $14,000 from the November 2019 low of $3,250. The BTC/USD pair recently rose 60% from its November 2022 low. On-chain and market indicators relative to the 2019 rally send mixed signals on whether or not Bitcoin’s rally will continue. Nevertheless, there are strong reasons to believe that the market has reached a crucial turning point where it can either turn into a full-fledged bull market.
https://t.me/bitcoin_day
Bitcoin’s recent price rally from $16,500 to $25,000 can be attributed to a short squeeze in the futures market and recent macroeconomic improvements. However, while prices increased, data suggests many interested buyers (including whales) were left on the sidelines.
The recent rally to $25,000 shared many similarities with the 2019 bear market rally, which saw a 330% surge in Bitcoin’s price to highs around $14,000 from the November 2019 low of $3,250. The BTC/USD pair recently rose 60% from its November 2022 low. On-chain and market indicators relative to the 2019 rally send mixed signals on whether or not Bitcoin’s rally will continue. Nevertheless, there are strong reasons to believe that the market has reached a crucial turning point where it can either turn into a full-fledged bull market.
https://t.me/bitcoin_day
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💰 Bitcoin miner Iris Energy posts $144 million net loss
Iris Energy posted a net loss of $144 million, mainly due to a $105.2 million non-cash impairment charge in part related to its equipment financing, and said it mined fewer bitcoin in the quarter ending in December. topping the $13.3 million average estimate of analysts compiled by FactSet.
Shares of Iris Energy were lower in post-market trading after closing up by 67% during the regular session. “2022 was a challenging year for the digital assets industry as well as broader equity markets,” said Daniel Roberts, co-founder and co-CEO of Iris Energy. "Looking forward, we believe we are well positioned to capitalize as markets continue to improve.". The company recently announced plans to scale its hashrate back up after unplugging about 3.6 EH/s worth of machines in November.
https://t.me/bitcoin_day
Iris Energy posted a net loss of $144 million, mainly due to a $105.2 million non-cash impairment charge in part related to its equipment financing, and said it mined fewer bitcoin in the quarter ending in December. topping the $13.3 million average estimate of analysts compiled by FactSet.
Shares of Iris Energy were lower in post-market trading after closing up by 67% during the regular session. “2022 was a challenging year for the digital assets industry as well as broader equity markets,” said Daniel Roberts, co-founder and co-CEO of Iris Energy. "Looking forward, we believe we are well positioned to capitalize as markets continue to improve.". The company recently announced plans to scale its hashrate back up after unplugging about 3.6 EH/s worth of machines in November.
https://t.me/bitcoin_day
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Market Strategist Michael Wilkerson Believes US Inflation Could Rise to 12% by Year-End Despite Predictions of Decrease
While several market strategists and analysts expect U.S. inflation to drop considerably in 2023 compared with last year, Michael Wilkerson, founder of Stormwall Advisors, thinks the inflation rate could climb as high as 12% by the end of this year. The country’s inflation rate has cooled down over the past seven months, but Wilkerson insists that the U.S. Federal Reserve “is going to run out of firepower.”
Source
https://t.me/bitcoin_day
While several market strategists and analysts expect U.S. inflation to drop considerably in 2023 compared with last year, Michael Wilkerson, founder of Stormwall Advisors, thinks the inflation rate could climb as high as 12% by the end of this year. The country’s inflation rate has cooled down over the past seven months, but Wilkerson insists that the U.S. Federal Reserve “is going to run out of firepower.”
Source
https://t.me/bitcoin_day
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🥇 Iceland Emerges as the Most Stable Bitcoin Mining Jurisdictions
Iceland’s climate provides natural cooling to heat-producing mining operations, significantly reducing maintenance costs.One European country has emerged as the world’s largest hash rate producer per capita. Owing to cheap electricity, Iceland is one of the first countries to see industrial-scale Bitcoin mining.
According to Bitcoin mining researcher Jaran Mellerud, the country’s entrepreneurial locals can also be attributed to the growth of the sector. The Icelandic bitcoin mining industry is estimated to consume nearly 120 MW, equating to a share of 1.3% of the global hash rate production. Considering the fact that Iceland has a population of only 370,000, it is the biggest hash rate producer per capita. One crucial advantage, as pointed out by Mellerud, is the fact that the Artic nation’s electricity system is in total isolation from the rest of the world.
https://t.me/bitcoin_day
Iceland’s climate provides natural cooling to heat-producing mining operations, significantly reducing maintenance costs.One European country has emerged as the world’s largest hash rate producer per capita. Owing to cheap electricity, Iceland is one of the first countries to see industrial-scale Bitcoin mining.
According to Bitcoin mining researcher Jaran Mellerud, the country’s entrepreneurial locals can also be attributed to the growth of the sector. The Icelandic bitcoin mining industry is estimated to consume nearly 120 MW, equating to a share of 1.3% of the global hash rate production. Considering the fact that Iceland has a population of only 370,000, it is the biggest hash rate producer per capita. One crucial advantage, as pointed out by Mellerud, is the fact that the Artic nation’s electricity system is in total isolation from the rest of the world.
https://t.me/bitcoin_day
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🏦 Kraken move should put crypto industry 'on notice,' Gensler says
Securities and Exchange Commission Chair Gary Gensler sent another warning shot to the crypto industry this morning, just a day after the regulator said it settled with the Kraken exchange over allegations surrounding its staking program. Those other platforms should take note of this and seek to come into compliance.
The SEC said Thursday that crypto intermediaries needed to provide "proper disclosures and safeguards required by our securities laws" when offering services such as lending or staking. Kraken subsequently agreed to end its on-chain staking services for U.S. clients only without admitting or denying the allegations. “This really should put everyone on notice in this marketplace whether you call it lend, whether you call it earn, whether you call it yield, whether you offer what’s called an annual percentage yield, APY,” Gensler said on CNBC.
https://t.me/bitcoin_day
Securities and Exchange Commission Chair Gary Gensler sent another warning shot to the crypto industry this morning, just a day after the regulator said it settled with the Kraken exchange over allegations surrounding its staking program. Those other platforms should take note of this and seek to come into compliance.
The SEC said Thursday that crypto intermediaries needed to provide "proper disclosures and safeguards required by our securities laws" when offering services such as lending or staking. Kraken subsequently agreed to end its on-chain staking services for U.S. clients only without admitting or denying the allegations. “This really should put everyone on notice in this marketplace whether you call it lend, whether you call it earn, whether you call it yield, whether you offer what’s called an annual percentage yield, APY,” Gensler said on CNBC.
https://t.me/bitcoin_day
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Artificial Intelligence Crypto Assets Continue to Surge, Accounting for $4 Billion in Market Value
Following a brief downturn in mid-February 2023, artificial intelligence (AI) crypto assets have continued to see gains over the last 30 days. Currently, out of 74 listed AI-focused cryptocurrencies, the net value of all these tokens has risen to more than $4 billion, which accounts for 0.37% of the entire crypto economy’s value.
Source
https://t.me/bitcoin_day
Following a brief downturn in mid-February 2023, artificial intelligence (AI) crypto assets have continued to see gains over the last 30 days. Currently, out of 74 listed AI-focused cryptocurrencies, the net value of all these tokens has risen to more than $4 billion, which accounts for 0.37% of the entire crypto economy’s value.
Source
https://t.me/bitcoin_day
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💰 Bitcoin miner Argo Blockchain's CEO Peter Wall steps down
Peter Wall is stepping down as CEO and interim chairman of Argo Blockchain to "pursue other opportunities." Wall has agreed to remain as an advisor to Argo over the next three months to support the transition. Matthew Shaw has been appointed chairman of the board.
The publicly listed miner will use an executive search firm to help find a long-term replacement for Wall. In addition to Wall's departure, non-executive director to the board Sarah Gow has resigned due to health reasons. She had been on the board since July 2021. These departures follow the exit of the company's CFO, Alex Appleton, who left at the beginning of February. Appleton also said he is leaving to "pursue other opportunities," a filing shows. Argo panicked the market by accidentally publishing drafts of posts.
https://t.me/bitcoin_day
Peter Wall is stepping down as CEO and interim chairman of Argo Blockchain to "pursue other opportunities." Wall has agreed to remain as an advisor to Argo over the next three months to support the transition. Matthew Shaw has been appointed chairman of the board.
The publicly listed miner will use an executive search firm to help find a long-term replacement for Wall. In addition to Wall's departure, non-executive director to the board Sarah Gow has resigned due to health reasons. She had been on the board since July 2021. These departures follow the exit of the company's CFO, Alex Appleton, who left at the beginning of February. Appleton also said he is leaving to "pursue other opportunities," a filing shows. Argo panicked the market by accidentally publishing drafts of posts.
https://t.me/bitcoin_day
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💰 Ark Invest Expects Bitcoin to Become a Multitrillion-Dollar Market
Investment management firm Ark Invest says bitcoin is “likely to scale into a multi-trillion dollar market.” In its new report, the firm offers three bitcoin price predictions, including a bull case where bitcoin could rise to $1.48 million per coin. Ark Invest CEO Cathie Wood sees bitcoin.
Ark Investment Management (Ark Invest) published its annual Big Ideas 2023 last week. The report “highlights the technological breakthroughs evolving today and creating the potential for super-exponential growth tomorrow,” Ark Invest’s analysts explained. The topics discussed in the report include artificial intelligence (AI), digital wallets, public blockchains, bitcoin, and smart contract networks.Bitcoin’s value propositions: decentralization, auditability, and transparency.
https://t.me/bitcoin_day
Investment management firm Ark Invest says bitcoin is “likely to scale into a multi-trillion dollar market.” In its new report, the firm offers three bitcoin price predictions, including a bull case where bitcoin could rise to $1.48 million per coin. Ark Invest CEO Cathie Wood sees bitcoin.
Ark Investment Management (Ark Invest) published its annual Big Ideas 2023 last week. The report “highlights the technological breakthroughs evolving today and creating the potential for super-exponential growth tomorrow,” Ark Invest’s analysts explained. The topics discussed in the report include artificial intelligence (AI), digital wallets, public blockchains, bitcoin, and smart contract networks.Bitcoin’s value propositions: decentralization, auditability, and transparency.
https://t.me/bitcoin_day
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Bitcoin's Blockchain Growth Accelerates With Trend of Ordinal Inscriptions
The Bitcoin blockchain has 40.49 gigabytes (GB) to go until it reaches half a terabyte (TB), and with the recent trend of Ordinal inscriptions, it’s likely to get there faster. The average block size reached a high of 2.52 megabytes (MB) on Feb. 12, 2023, but block sizes have subsided and dropped to an average of 1.634 MB by Feb. 27. Still, the blockchain grew at a rate of 0.288 GB per day, compared to the previous rate of 0.173 GB per day recorded before the Ordinal inscription trend began.
Source
https://t.me/bitcoin_day
The Bitcoin blockchain has 40.49 gigabytes (GB) to go until it reaches half a terabyte (TB), and with the recent trend of Ordinal inscriptions, it’s likely to get there faster. The average block size reached a high of 2.52 megabytes (MB) on Feb. 12, 2023, but block sizes have subsided and dropped to an average of 1.634 MB by Feb. 27. Still, the blockchain grew at a rate of 0.288 GB per day, compared to the previous rate of 0.173 GB per day recorded before the Ordinal inscription trend began.
Source
https://t.me/bitcoin_day
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XRP Price Prediction as $600📈
As XRP records a $600 million trading volume, investors are wondering if the cryptocurrency can reach $10 in 2023. This XRP price prediction is fueled by recent developments in the XRP ecosystem, as well as a broader surge in the cryptocurrency market.
However, there are also factors that may limit XRP's growth potential.
⚔️Crypto investors have been following Ripple's legal battle with the US Securities and Exchange Commission (SEC) for over two years. The SEC filed a complaint against Ripple Labs, the company behind XRP, claiming that the cryptocurrency is a security and that Ripple offered it to investors without legal registration. However, it is becoming increasingly difficult to predict the outcome of the legal case.
🎓On February 23, cryptocurrency advocate and lawyer John Deaton proposed a scenario that could expedite a settlement if needed. Deaton tweeted that he believes Ripple's attorney will strongly advise a settlement if the SEC accepts in writing that all current and future XRP transactions are not securities. Deaton also expressed confidence that Ripple will emerge victorious and that the Supreme Court would not uphold the SEC's overreach.
As XRP records a $600 million trading volume, investors are wondering if the cryptocurrency can reach $10 in 2023. This XRP price prediction is fueled by recent developments in the XRP ecosystem, as well as a broader surge in the cryptocurrency market.
However, there are also factors that may limit XRP's growth potential.
⚔️Crypto investors have been following Ripple's legal battle with the US Securities and Exchange Commission (SEC) for over two years. The SEC filed a complaint against Ripple Labs, the company behind XRP, claiming that the cryptocurrency is a security and that Ripple offered it to investors without legal registration. However, it is becoming increasingly difficult to predict the outcome of the legal case.
🎓On February 23, cryptocurrency advocate and lawyer John Deaton proposed a scenario that could expedite a settlement if needed. Deaton tweeted that he believes Ripple's attorney will strongly advise a settlement if the SEC accepts in writing that all current and future XRP transactions are not securities. Deaton also expressed confidence that Ripple will emerge victorious and that the Supreme Court would not uphold the SEC's overreach.
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Lightning Network reaches all-time high in bitcoin capacity
Lightning Network, a Layer 2 payment network built on top of the Bitcoin blockchain, has reached an all-time high in terms of capacity, or the amount of bitcoin (BTC) locked in payment channels.The payment channel capacity on the Lightning Network has grown 63% since the beginning of last year, according to data from The Block Research.
The Lightning Network is a second-layer payment protocol built on top of the Bitcoin blockchain, designed to enable fast and cheap micropayments by allowing participants to transact directly without the need for immediate settlement on the blockchain. It operates as a network of bi-directional payment channels between participants, allowing for off-chain transactions that are eventually settled on the Bitcoin blockchain. which allows it to handle high amounts of low-value transfers without having to broadcast every transaction to the Bitcoin main network.
https://t.me/bitcoin_day
Lightning Network, a Layer 2 payment network built on top of the Bitcoin blockchain, has reached an all-time high in terms of capacity, or the amount of bitcoin (BTC) locked in payment channels.The payment channel capacity on the Lightning Network has grown 63% since the beginning of last year, according to data from The Block Research.
The Lightning Network is a second-layer payment protocol built on top of the Bitcoin blockchain, designed to enable fast and cheap micropayments by allowing participants to transact directly without the need for immediate settlement on the blockchain. It operates as a network of bi-directional payment channels between participants, allowing for off-chain transactions that are eventually settled on the Bitcoin blockchain. which allows it to handle high amounts of low-value transfers without having to broadcast every transaction to the Bitcoin main network.
https://t.me/bitcoin_day
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UBS Strategists Predict Minimal Impact of Upcoming Mt Gox Payouts on Bitcoin Value
A recent report published by market strategists from the investment bank and financial services company UBS says that the upcoming Mt Gox payouts won’t destabilize bitcoin’s value. While a new supply will come to the market, UBS strategists insist that “it would be less concentrated.
Source
https://t.me/bitcoin_day
A recent report published by market strategists from the investment bank and financial services company UBS says that the upcoming Mt Gox payouts won’t destabilize bitcoin’s value. While a new supply will come to the market, UBS strategists insist that “it would be less concentrated.
Source
https://t.me/bitcoin_day
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🇫🇷 France passes new crypto registration rules for firms
The French National Assembly passed a set of licensing rules for crypto firms operating in the country as part of a broader bill aimed at harmonizing French law with European Union standards. Crypto firms in France dodged far tougher provisions proposed in response to the collapse of FTX.
The final National Assembly vote tally was 109 in favor to 71 against. The French Senate already passed the bill, so it will travel next to French President Emmanuel Macron, who has 15 days to either approve it or send it back to the legislature, though the bill is expected to become law. Following an industry push, the provisions will take a milder form than French policymakers originally proposed amid a regulatory push after the collapse of FTX — taking a step toward broader anticipated EU rules.
https://t.me/bitcoin_day
The French National Assembly passed a set of licensing rules for crypto firms operating in the country as part of a broader bill aimed at harmonizing French law with European Union standards. Crypto firms in France dodged far tougher provisions proposed in response to the collapse of FTX.
The final National Assembly vote tally was 109 in favor to 71 against. The French Senate already passed the bill, so it will travel next to French President Emmanuel Macron, who has 15 days to either approve it or send it back to the legislature, though the bill is expected to become law. Following an industry push, the provisions will take a milder form than French policymakers originally proposed amid a regulatory push after the collapse of FTX — taking a step toward broader anticipated EU rules.
https://t.me/bitcoin_day
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💰 Bored Ape Yacht Club Creator Yuga Labs Reveals First Bitcoin NFT Project
Yuga Labs, the creator of the Bored Ape Yacht Club, announced the release of a new bitcoin-based NFT collection called TwelveFold. The collection will consist of 300 generative art pieces inscribed onto satoshis on the Bitcoin blockchain. building on the recent uptick in ordinal NFTs.
Inscriptions, also known as digital artifacts, are created when a file, such as an art image like those created for TwelveFold, is written (or inscribed into) units of Bitcoin called satoshis, the smallest individually identifiable units of Bitcoin. The process is made possible through the Ordinal Theory protocol, with such NFTs simply donning the name "ordinals.". Ordinals have gained popularity as upgrades to the Bitcoin blockchain made it cheaper to store data in single transactions. In January, for example, someone minted a copy of the 100 Ether Rocks — one of the oldest Ethereum NFT projects.
https://t.me/bitcoin_day
Yuga Labs, the creator of the Bored Ape Yacht Club, announced the release of a new bitcoin-based NFT collection called TwelveFold. The collection will consist of 300 generative art pieces inscribed onto satoshis on the Bitcoin blockchain. building on the recent uptick in ordinal NFTs.
Inscriptions, also known as digital artifacts, are created when a file, such as an art image like those created for TwelveFold, is written (or inscribed into) units of Bitcoin called satoshis, the smallest individually identifiable units of Bitcoin. The process is made possible through the Ordinal Theory protocol, with such NFTs simply donning the name "ordinals.". Ordinals have gained popularity as upgrades to the Bitcoin blockchain made it cheaper to store data in single transactions. In January, for example, someone minted a copy of the 100 Ether Rocks — one of the oldest Ethereum NFT projects.
https://t.me/bitcoin_day
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Coinbase Severs Ties With Silvergate Bank Amidst JPMorgan Downgrade and Delayed SEC Filing
On March 2, 2023, the cryptocurrency exchange Coinbase announced that, in light of recent developments, the company is “no longer accepting or initiating payments to or from Silvergate Bank.” The news follows the crypto bank’s delay of its annual 10-K filing with the U.S. Securities and Exchange Commission (SEC) and JPMorgan’s downgrade of the company’s shares from “neutral” to “underweight.”
Source
https://t.me/bitcoin_day
On March 2, 2023, the cryptocurrency exchange Coinbase announced that, in light of recent developments, the company is “no longer accepting or initiating payments to or from Silvergate Bank.” The news follows the crypto bank’s delay of its annual 10-K filing with the U.S. Securities and Exchange Commission (SEC) and JPMorgan’s downgrade of the company’s shares from “neutral” to “underweight.”
Source
https://t.me/bitcoin_day
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💰 BitMEX Founder Urges Bitcoin Investment Amid Warning Of Global Crash
BitMEX founder and crypto veteran Arthur Hayes warns of an impending financial crash and recommends Bitcoin as a hedge against inflation. He advises diversifying with altcoins like Ethereum, Solana, and Cardano while using leverage sparingly and keeping cash in reserve.
Arthur Hayes, the co-founder of BitMEX, warns that a massive global financial crash is looming and shares his Bitcoin and crypto strategy. Hayes argues that the global financial system is in a precarious state and that a significant market correction is imminent. In response, he recommends investing in Bitcoin, which he sees as a hedge against inflation and a store of value. Hayes also advises diversifying the cryptocurrency portfolios by investing in other promising altcoins such as Ethereum, Solana, and Cardano.
https://t.me/bitcoin_day
BitMEX founder and crypto veteran Arthur Hayes warns of an impending financial crash and recommends Bitcoin as a hedge against inflation. He advises diversifying with altcoins like Ethereum, Solana, and Cardano while using leverage sparingly and keeping cash in reserve.
Arthur Hayes, the co-founder of BitMEX, warns that a massive global financial crash is looming and shares his Bitcoin and crypto strategy. Hayes argues that the global financial system is in a precarious state and that a significant market correction is imminent. In response, he recommends investing in Bitcoin, which he sees as a hedge against inflation and a store of value. Hayes also advises diversifying the cryptocurrency portfolios by investing in other promising altcoins such as Ethereum, Solana, and Cardano.
https://t.me/bitcoin_day
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🪙 Solo Bitcoin Miner Solves Block With Hash Rate of Just 10 TH/s, Beating Extremely Unlikely Odds
A solo Bitcoin miner with an average hashing power of just 10 TH/s (terahashes per second) won the race to add block 772,793 to the Bitcoin blockchain on Friday. At the time the block was added, Bitcoin's total hash rate was just over 269 exahash per second.
Despite the odds stacked against them, the solo miner was the first to produce a valid hash for the block to be mined. In return, the miner received 98% of the total 6.35939231 BTC allotted for the block reward and fees. The remaining 2% went to Solo CK Pool, an online mining service that facilitates individual mining. Bitcoin, the miner must be the first to calculate a valid hash for the block, which can only be discovered using brute computational force.
https://t.me/bitcoin_day
A solo Bitcoin miner with an average hashing power of just 10 TH/s (terahashes per second) won the race to add block 772,793 to the Bitcoin blockchain on Friday. At the time the block was added, Bitcoin's total hash rate was just over 269 exahash per second.
Despite the odds stacked against them, the solo miner was the first to produce a valid hash for the block to be mined. In return, the miner received 98% of the total 6.35939231 BTC allotted for the block reward and fees. The remaining 2% went to Solo CK Pool, an online mining service that facilitates individual mining. Bitcoin, the miner must be the first to calculate a valid hash for the block, which can only be discovered using brute computational force.
https://t.me/bitcoin_day
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Bitcoin's Price Drop Causes Over $200 Million in Long Liquidations Across Crypto Derivative Exchanges
On Feb. 24, 2023, bitcoin’s price remained above the $23,000 threshold and then rose to a peak of $23,829 per unit on March 1. On March 2 at 8 p.m. Eastern Time, the price of bitcoin fell, dropping below the $23,000 mark. This decline resulted in a significant $237.97 million worth of long liquidations on a variety of crypto derivative exchanges. Of that total, $206 million in liquidations occurred on March 2 alone.
Source
https://t.me/bitcoin_day
On Feb. 24, 2023, bitcoin’s price remained above the $23,000 threshold and then rose to a peak of $23,829 per unit on March 1. On March 2 at 8 p.m. Eastern Time, the price of bitcoin fell, dropping below the $23,000 mark. This decline resulted in a significant $237.97 million worth of long liquidations on a variety of crypto derivative exchanges. Of that total, $206 million in liquidations occurred on March 2 alone.
Source
https://t.me/bitcoin_day
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📊 GBTC trading at 45% discount to NAV less than a week from SEC trial
Grayscale presents oral arguments against the Securities and Exchange Commission, the discount price of Grayscale Bitcoin Trust (GBTC) traded at at a low of 45.9% relative to net asset value on Thursday, according to data from The Block. The GBTC discount hit an all-time low on Dec. 13.
GBTC trades at a discount to the NAV of the fund, since holding shares in the fund doesn't grant the holder access to its underlying assets. Until early 2021, shares in the fund traded at a premium before flipping to a discount. As a result, the market price of GBTC shares is more than 47% lower than the value of the bitcoin in the fund or its NAV. The fund will appear in the District of Colombia Court of Appeals this Tuesday March 7, contesting the Securities and Exchange Commission’s decision from June 2022.
https://t.me/bitcoin_day
Grayscale presents oral arguments against the Securities and Exchange Commission, the discount price of Grayscale Bitcoin Trust (GBTC) traded at at a low of 45.9% relative to net asset value on Thursday, according to data from The Block. The GBTC discount hit an all-time low on Dec. 13.
GBTC trades at a discount to the NAV of the fund, since holding shares in the fund doesn't grant the holder access to its underlying assets. Until early 2021, shares in the fund traded at a premium before flipping to a discount. As a result, the market price of GBTC shares is more than 47% lower than the value of the bitcoin in the fund or its NAV. The fund will appear in the District of Colombia Court of Appeals this Tuesday March 7, contesting the Securities and Exchange Commission’s decision from June 2022.
https://t.me/bitcoin_day
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Decentralized storage platform introduces perpetual storage and community satellites.🧐
The latest update incentivizes the community to participate in the ecosystem and make enterprise storage viable for all.
Decentralized storage networks are getting increasingly popular over mainstream centralized providers, such as Amazon Web Services, Google Cloud and Microsoft Azure. The primary reason for the shift is the low cost of operations and security.
Some notable decentralized storage platforms are Filecoin, Sia, BitTorrent and Storj. 😏Among these platforms, Storj has developed a new scalable solution called Storj Next, promising more scalable decentralized solutions for Web2 and Web3 firms. With a focus on community building, the latest upgrade introduces a new economic model that enables broader participation in the Storj ecosystem.
👉Storj is a decentralized system for digital file storage that utilizes unused storage on computers worldwide with the help of encryption and blockchain. It breaks the uploaded data into smaller fractions and distributes it across the network so that no single company or organization can access all uploaded data.
The decentralized storage platform is introducing a new crypto-enabled perpetual storage feature, where dedicated wallet addresses for Storj accounts can unlock perpetual storage. Using Ethereum smart contract payments with the platform’s native Storj (STORJ) cryptocurrency, the feature will allow network participants to be rewarded for depositing STORJ.
💁The new model will accommodate the storage needs of node operators and independent satellite operators. Storj claimed its latest update would allow Web2 and Web3 businesses to reduce cloud costs without sacrificing reliability or performance.
The latest update will also enable staking, allowing node operators and community satellites to make way for passive income for network participants.
The latest update incentivizes the community to participate in the ecosystem and make enterprise storage viable for all.
Decentralized storage networks are getting increasingly popular over mainstream centralized providers, such as Amazon Web Services, Google Cloud and Microsoft Azure. The primary reason for the shift is the low cost of operations and security.
Some notable decentralized storage platforms are Filecoin, Sia, BitTorrent and Storj. 😏Among these platforms, Storj has developed a new scalable solution called Storj Next, promising more scalable decentralized solutions for Web2 and Web3 firms. With a focus on community building, the latest upgrade introduces a new economic model that enables broader participation in the Storj ecosystem.
👉Storj is a decentralized system for digital file storage that utilizes unused storage on computers worldwide with the help of encryption and blockchain. It breaks the uploaded data into smaller fractions and distributes it across the network so that no single company or organization can access all uploaded data.
The decentralized storage platform is introducing a new crypto-enabled perpetual storage feature, where dedicated wallet addresses for Storj accounts can unlock perpetual storage. Using Ethereum smart contract payments with the platform’s native Storj (STORJ) cryptocurrency, the feature will allow network participants to be rewarded for depositing STORJ.
💁The new model will accommodate the storage needs of node operators and independent satellite operators. Storj claimed its latest update would allow Web2 and Web3 businesses to reduce cloud costs without sacrificing reliability or performance.
The latest update will also enable staking, allowing node operators and community satellites to make way for passive income for network participants.
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