Author: Max Bauer
A recent analysis by cryptocurrency analytics firm CryptoQuant suggests that The Open Network (TON) could soon surpass Ethereum in terms of the number of unique wallet holders. According to the firm, TON’s rapid growth, averaging 500,000 new holders per day, positions it to potentially overtake Ethereum by December 20th, 2023. This projection is based on the current rate of growth and the assumption that it continues at a similar pace. However, CryptoQuant also acknowledges that the growth rate might decelerate. A more conservative estimate, considering a one standard deviation reduction, suggests that the crossover could occur around February 3rd, 2025.…
CryptoQuant, a leading cryptocurrency analysis firm, has recently shared insights suggesting a potential upward trajectory for Bitcoin. The firm’s analysis focuses on the behavior of miners, a key indicator of market sentiment and future price movements. According to CryptoQuant, miners are currently holding onto their Bitcoin rather than selling it off. This behavior, as indicated by the Miner Position Index (MPI), is historically associated with significant price increases. A rising MPI suggests that miners are bullish on Bitcoin’s future and are accumulating rather than liquidating their holdings. Furthermore, the increase in block rewards per block points to growing network activity,…
The limitations of Ethereum’s mainnet infrastructure are pushing users, applications, and capital towards Layer-2 solutions and competing blockchains like Solana, according to analysts. The demand for faster and more scalable solutions is driving this migration. Anmol Singh, co-founder of Zeta Markets, told that Ethereum’s underlying infrastructure struggles to handle the growing volume of users, transactions, and data. This has led to the development of Layer-2 solutions, but users and capital are also migrating to alternative Layer-1 blockchains like Solana. While Layer-2 solutions offer scalability benefits, they also introduce the challenge of liquidity fragmentation. Qi Zhou, founder of QuarkChain and EthStorage,…
Bitcoin’s price surged past $68,000 this morning, marking a 100% increase over the past year. This surge comes amid renewed speculation about the cryptocurrency’s connection to political cycles and global economic trends. Matthew Sigel, Head of Digital Assets Research at VanEck, appeared on CNBC this morning, offering insights into Bitcoin’s recent performance and future potential. VanEck Makes a Bold Prediction for Bitcoin in 2050 Sigel suggested a correlation between Bitcoin’s recent climb from $57,000 to nearly $70,000 and improving odds for a particular presidential candidate, echoing a pattern observed in 2020. He highlighted former President Trump as the more pro-Bitcoin…
Phantom, the leading Solana and multi-chain web3 wallet, experienced significant downtime today due to what SolanaFloor described as a major backend incident. The disruption comes at a particularly inopportune time as users attempt to claim tokens from the highly anticipated GRASS airdrop. Users reported seeing inaccurate account balances, though Phantom officials quickly assured that funds remain secure. While the browser extension and mobile app continue to function, the company acknowledged an “ongoing incident” through their status page, marking it as a “major issue.” “We’re currently experiencing an uptime incident and some services may be temporarily disrupted,” Phantom announced on X.…
Circle, in collaboration with Inco Network, has announced a groundbreaking development in blockchain technology that could reshape the landscape of digital asset privacy. The companies released a whitepaper detailing their “Confidential ERC-20 Framework,” a pioneering solution that enables private cryptocurrency transactions while maintaining regulatory compliance. The framework, announced today, introduces a novel approach to handling ERC-20 tokens by implementing privacy features that mask both balance information and transaction amounts. This development marks a significant leap forward in addressing one of cryptocurrency’s most pressing challenges: balancing privacy with regulatory requirements. “This framework represents a major milestone in blockchain technology,” said a…
Cryptocurrency markets are watching the US Presidential election closely, but Bitcoin’s price action is showing signs of decoupling from former President Donald Trump’s perceived chances, according to analysis from QCP Capital. While Trump’s recent interview on the Joe Rogan Experience podcast has boosted his odds on prediction markets like Polymarket to over 66%, Bitcoin’s correlation with these odds appears to be weakening. Correlation Between Bitcoin Price and Trump’s Likelihood of Winning the Election is Declining Historically, some analysts have referred to Bitcoin as the “Trump Trade,” suggesting a positive correlation between his political fortunes and the cryptocurrency’s price. However, despite…
Circle CEO Jeremy Allaire reaffirmed the company’s long-standing commitment to going public, stating that this vision remains unchanged despite market fluctuations and regulatory scrutiny. In a recent interview with Bloomberg, Allaire emphasized Circle’s readiness for the public market, asserting that the company doesn’t require further private funding. “We are very committed to the road to listing,” Allaire stated, “and we can become a really interesting company in the public market.” Circle’s journey towards an initial public offering (IPO) has been marked by both progress and setbacks. Earlier this year, the company confidentially submitted a draft registration statement to the U.S.…
Prominent trader Eugene Ng Ah Sio predicts a market upswing following the upcoming November elections, expressing strong optimism for Solana ($SOL) in a recent social media analysis. Ng Ah Sio believes the market has cleared out speculative long positions established in October, paving the way for renewed growth. Ng Ah Sio anticipates that market participants largely intended to reduce risk exposure in the lead-up to the November 5th elections. This de-risking, he notes, occurred slightly earlier than expected, influencing his own defensive positioning in recent days. However, he now sees the market as primed for a continued upward trajectory. Central…
Ethereum community member Ryan Berckmans has outlined five key reasons why he believes Solana cannot achieve the status of a global blockchain backbone, a position he firmly asserts belongs to ETH. Berckmans argues that Ethereum’s focus on Layer 2 (L2) scaling positions it as the foundation of a new global financial system, while Solana’s architectural choices and history present insurmountable obstacles. Berckmans’ argument comes in response to suggestions that Solana could pivot to become a backbone similar to Ethereum. He acknowledges Solana’s recent success in decentralized finance (DeFi) and meme-driven growth, but contends that Solana’s leadership is beginning to recognize…