A technical correction and reversal in the market is nearing completion, potentially setting the stage for a significant bullish rally, according to some traders. Key points to consider: As traders return from the holiday break, optimism surrounding Donald Trump’s upcoming inauguration as U.S. president is fostering a bullish outlook for bitcoin and the wider cryptocurrency … Read more
According to a recent report, the network hashrate experienced a 54% increase in 2024, which is a slowdown compared to the 103% surge seen in 2023. Key points to note: In December, Bitcoin (BTC) miners achieved their highest daily revenue and gross profit since April, as reported by JPMorgan (JPM) on Monday. The rise in … Read more
In 2024, Bitcoin’s hashrate surged by about 50%, marking a potential eighth consecutive increase. Here are some key points to consider: The hashrate, which represents the computational power required to mine Bitcoin blocks, is expected to approach 1 zettahash per second before the next halving event in approximately 3.5 years. This scenario places pressure on … Read more
Cango, a Chinese automotive transaction service platform, made a significant move into the bitcoin mining sector in late 2024 by acquiring 50 EH/s of mining power, positioning itself as a major contender in the industry. Here are the key points: Juliet Ye, Cango’s senior director of communications, noted the company’s history of adaptation and diversification … Read more
An in-depth exploration of the most significant advancements in cryptocurrency technology for 2024, featuring Ethereum’s Duncun upgrade, Solana’s revival, and the emergence of Layer-2 solutions. Additionally, we’ll discuss what to anticipate in 2025. This special edition of The Protocol reflects on the revolutionary developments of 2024 while looking ahead to the potential future of blockchain … Read more
European financial institutions are set to introduce cryptocurrency services for their clients within the EU, as reported by the Spanish crypto platform Bit2Me. Key points to note: Banco Bilbao Vizcaya Argentaria (BBVA), a major Spanish bank, is expanding its involvement in the cryptocurrency sector. Garanti BBVA Kripto, a crypto custody service managed by Garanti BBVA—Turkey’s … Read more
South Korean investors are showing a strong preference for XRP compared to larger cryptocurrencies like Bitcoin and Ether, with notable trading volume spikes often indicating upcoming price fluctuations on local exchanges. Key points to note: In South Korea’s leading crypto exchanges—UpBit, Bithumb, and Korbit—XRP’s trading volumes have surpassed those of Bitcoin (BTC) and Ether (ETH), … Read more
Multiple filings came in yesterday for bitcoin bond ETFs, one being to invest in MicroStrategy convertible securities. What to know: The dominant crypto narrative for 2024 has been institutional adoption. From the U.S. approval of spot bitcoin (BTC) exchange-traded funds to the burgeoning number of companies pledging to buy the largest cryptocurrency for their treasuries, … Read more
The South Korean won hit the lowest level against the dollar since March 2009. What to know: South Koreans are paying a full 3% more to buy bitcoin (BTC) than their U.S. counterparts as they seek protection from the plummeting won, CryptoQuant data show. Priced in won, the largest cryptocurrency is valued at 145,000,000 ($98,600) … Read more
The pattern has its roots in the behavioral aspects of trading and often sets the stage for bigger bull runs. What to know: In financial markets, the best entry opportunity is often fleeting and easily missed. Now, Solana’s SOL is flashing a timely second chance for those looking to trade bullish breakouts. The SOL price … Read more