El Salvador Bitcoin Holdings At $50 Million Profit

El Salvador bitcoin HODLing policy has started to pay dividends as the net worth of BTC held by it rose to $160 million. The small country started a digital asset revolution back in September 2021 when it adopted bitcoin as legal tender. It also decided in principle to store the digital currency as part of the reserves held by its Central Bank. 

According to the latest figures from BitcoinTreasuries, the Central American country holds 2,381 BTC. This calculates to just shy of the $160 million valuation. 

The move has proved successful in the long term despite glaring concerns during the 2022-2023 bear market, when the premier digital asset dropped a lot in value.

El Salvador’s History… Read more on bitcoinnews

Cryptocurrency Fetch.ai Up More Than 14% In 24 hours

Over the past 24 hours, Fetch.ai’s FET/USD price rose 14.97% to $2.65. This continues its positive trend over the past week where it has experienced a 81.0% gain, moving from $1.46 to its current price. As it stands right now, the coin’s all-time high is $2.84.

The chart below compares the price movement and volatility for Fetch.ai over the past 24 hours (left) to its price movement over the past week (right). The gray bands are Bollinger Bands, measuring the volatility for both the daily and weekly price movements. The wider the bands are, or the larger the gray area is at any given moment, the larger the volatility.

Fetch.ai’s trading volume has climbed 117.0% over the past week along…

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The Perils of Centralized Control

“It is in the nature of a system of government control of business to aim at the utmost centralization…In voting for government control of business the voters implicitly, although unwittingly, are voting for more centralization.”

– Ludwig Von Mises

One of the most underestimated threats that modern society faces is the ever tightening grip of centralized control. History has shown us time and again that centralized control inevitably devolves into tyranny, eroding the foundations of liberty upon which free societies are built. The 10 planks of communism, as outlined by Karl Marx and Friedrich Engels in The Communist Manifesto, that serves as the blueprint for transitioning society to…

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Arthur Hayes-backed Bitcoin Ordinals Trading App Raises $3 Million

Pioneering bitcoin wallet company Oyl has secured a $3 million pre-seed investment from a variety of investors, including UTXO Management and Domo, the creator of the BRC-20 token standard.

The investment marks a noteworthy shift in cryptocurrency investment trends, with several Ethereum NFT funds making their first foray into a bitcoin-centric business. Arca, which led the round, is a venture firm with a history of investments in Ethereum NFTs and alternative blockchains. Now, the company is extending its portfolio into the bitcoin sphere through Ordinals. Other investors include Foresight Ventures, Taproot Wizards CEO Udi Wertheimer, and distinguished NFT funds Kanosei and…

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Two-thirds of EVM smart contract deployments in 2024 are from Optimism: Report

A Flipside Crypto report shows that over 637 million Ethereum Virtual Machine (EVM) smart contracts have been deployed across seven layer-2 blockchains since January 2022.

EVM-compatible smart contracts refer to software that the computing state of the Ethereum blockchain can understand.

With scaling solutions becoming more efficient and accessible, fewer EVM contracts are directly deployed on the Ethereum blockchain. With the Dencun update around the corner — which will introduce blob transactions and other infrastructure upgrades — this trend is likely to accelerate.

“With layer-2s able to only publish critical data to ETH layer-1, the costs for interacting with layer-2s should…

Read more on Blockworks

21 Questions | First AI Written Book On Bitcoin

With all the talk about Bitcoin starting to bubble up again, many will have questions…questions about Bitcoin: what it is, how it works, its economic model, why it’s special, whether or not it’s good for the environment—and much more.

For the past 12 months, we’ve been building a Bitcoin-centric language model to help answer these, and as part of that, we trained our model—The Spirit of Satoshi—on THOUSANDS of relevant questions and answers.

This inspired us to do something else…

We took our data-science skills and distilled the 21 most common, pertinent, and important questions people have about Bitcoin, and turned it into what’s likely to become the simplest Bitcoin…

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16,557 ETH Worth $64M Was Just Burned

What happened: On Wednesday a total of 16,557.91 Ether ETH/USD worth $64,122,330, based on the current value of Ethereum at time of publication ($3,872.61), was burned from Ethereum transactions. Burning is when a coin or token is sent to an unusable wallet to remove it from circulation.

Why it matters: On August 5th, 2021, the Ethereum blockchain implemented an important upgrade known as EIP-1159. This Ethereum improvement proposal changed the fee model drastically. Now each transaction includes a variable base fee that adjusts according to the current demand for block space. This base fee is burned, or permanently removed from circulation, lowering the supply of Ether forever.

See Also:…

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Top Trending Crypto Coins of The Day

BIGCAP COINS:

  1. Pepe: Market Cap of $3.0 Billion.
  2. Shiba Inu: Market Cap of $19.1 Billion.
  3. Bitcoin: Market Cap of $1.3 Trillion.

MIDCAP COINS:

  1. dogwifhat: Market Cap of $1.8 Billion.
  2. Fetch.ai: Market Cap of $2.1 Billion.
  3. beoble: Market Cap of $24.4 Million.

RISING COINS:

  1. Pandora: Market Cap of $156 Million.
  2. Mog Coin: Market Cap of $411 Million.
  3. Blendr Network: Market Cap of $41.1 Million.

Disclaimer: Market capitalizations can vary in real-time. The information provided here is intended purely for educational purposes and should not, under any circumstances, be construed as financial advice.

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We Can Be So Back

This article is featured in Bitcoin Magazine’s “The Primary Issue”. Click here to get your Annual Bitcoin Magazine Subscription.

Click here to download a PDF of this article.

“The Greek word for ‘return’ is nostos. Algos means ‘suffering’. So nostalgia is the suffering caused by an unappeased yearning to return.”

― Milan Kundera, Ignorance

Nostalgia is a powerful emotion. A coping mechanism, an inspiration, or a manipulative rhetorical tool. For quite some time, the inhabitants of the West have found themselves conscripted onto a battlefield of the mind….

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LATEST: Investment Firm Pantera Gathers Funds to Buy Substantial Solana Stake from FTX Estate

Pantera Capital, a leading crypto asset manager with a $5.2 billion portfolio, is set to reinforce Solana’s position in the cryptocurrency market. By rallying major investors, Pantera is raising funds to acquire Solana tokens at a significant discount from the FTX estate, showcasing confidence in Solana’s potential. Their initiative, the Pantera Solana Fund, targets a $250 million investment in SOL tokens, capitalizing on the opportunity to purchase these at 39% below the 30-day average price. This move is strategically designed to benefit both FTX creditors and the Solana ecosystem, ensuring a gradual release of tokens over four years to maintain market stability. Amidst the backdrop of FTX’s bankruptcy, this development signals a strong belief in Solana’s resilience and growth prospects. Pantera’s commitment underlines the vibrant potential of Solana, marking a pivotal moment that could shape its trajectory in the competitive blockchain landscape.

Bloomberg