In recent reports, it has been revealed that Venezuela’s state-owned oil and gas company PDVSA is planning to accelerate the use of cryptocurrency, particularly USDT, to bypass US sanctions. The company has gradually started integrating USDT for oil sales since 2023. Moreover, PDVSA now has a new policy in place that mandates new customers to
Crypto
Block Inc, a fintech company led by Jack Dorsey, has recently announced the completion of its advanced Bitcoin mining chip. This development is a crucial milestone for the firm’s mining project, positioning it to thrive in the fifth mining epoch and beyond. Block’s three nanometre (3mn) Bitcoin mining chip is currently undergoing its full design
The completion of the fourth Bitcoin halving event has brought significant challenges for miners in terms of profitability. With the reduction of block rewards from 6.25 BTC to 3.125 BTC, miners are now producing fewer assets daily. This decreased output has put pressure on miners to rely more on transaction fees and higher BTC prices
As the crypto markets show signs of recovery, it is crucial to pay attention to the upcoming economic calendar events in the United States. These events have the potential to fuel momentum for the bears, impacting market sentiment and ultimately influencing price movements in the crypto space. One of the key events to watch this
The recent Bitcoin halving event has cut the miners’ block rewards in half, leading to a significant reduction in the daily issuance of BTC. This decrease in the supply of Bitcoin is expected to result in a price rally, as the scarcity of the digital asset increases its value in the market. The halving occurs
The NFT trading space experienced a significant surge in volumes during the first quarter of 2024, reaching a total of $4.7 billion across the top 10 marketplaces. Leading the pack was Blur, with a trading volume of $1.5 billion and a 27.6% market share. However, Magic Eden quickly emerged as a major competitor, surpassing Blur
Michael Saylor, the founder of MicroStrategy, has recently sold a significant number of shares in the company. He entered into a stock-sale agreement last year, which allowed him to sell up to 400,000 shares until April of this year. So far, he has successfully cashed in 370,000 shares, totaling about $372.7 million in value. This
In recent times, Ethereum has experienced a significant downturn in its value. However, there seems to be some hope on the horizon as the cryptocurrency has found support in a crucial zone. This zone is defined by the 100-day moving average and a critical price range that falls between the 0.5 and 0.618 Fibonacci levels.
Bitcoin’s fourth halving event, which occurs every four years in the world of cryptocurrency, has recently taken place. This event involves reducing the Bitcoin block reward from 6.25 BTC to 3.125 BTC, representing a crucial moment in the industry. The daily issuance of Bitcoin has been halved, now totaling around 450 Bitcoin compared to the
Binance, the world’s largest cryptocurrency exchange, is gearing up to re-enter the Indian market following a ban imposed by the Indian government. The exchange has agreed to pay a penalty of around $2 million to make a comeback. This move comes after Binance faced criticism for its lack of adherence to regulatory frameworks such as