Avalanche Rises More Than 3% In 24 hours

Over the past 24 hours, Avalanche’s AVAX/USD price has risen 3.73% to $23.46. This continues its positive trend over the past week where it has experienced a 7.0% gain, moving from $22.23 to its current price. As it stands right now, the coin’s all-time high is $144.96.

The chart below compares the price movement and volatility for Avalanche 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.

The trading volume for the coin has increased 23.0% over…

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A new cycle could boost sentiment and price action

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“I think we’re in a new cycle,” PitchBook’s Robert Le told me.

“In the last six months to maybe even a year we’ve been in the same cycle in terms of sentiment, increasing capital going into the space, and more developers coming and building. So last quarter, I think, maybe there was a little bit of a lull,” he added.

Le’s feeling pretty positive about the fall, and he thinks it’s just a matter of time until projects start announcing more token launches. He’s already seen plans for the third and fourth…

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Proof of Workforce and Careers In Government Partner to Integrate Bitcoin into Public Sector Jobs

The Proof of Workforce Foundation (POWF) and Careers In Government Inc. (CIG) have launched a strategic partnership aimed at integrating Bitcoin into public sector employment practices, according to a press release sent to Bitcoin Magazine. This collaboration seeks to enhance financial security, attract talent, and foster innovation within the government workforce through Bitcoin-based compensation and benefits.

The partnership’s focus is on developing innovative strategies for including Bitcoin in salary options and incentive structures for public sector employees. By testing these strategies, the initiative aims to create a scalable model that can be adopted by government employers…

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Australian Bitcoin ETF to Implement Proof of Reserves with Hoseki

Monochrome Asset Management announced its Monochrome Bitcoin ETF (IBTC) will implement proof-of-reserves verification through a new partnership with Hoseki. This makes IBTC the first Australian spot Bitcoin ETF to adopt such transparency measures.

Launched earlier this year, the Monochrome Bitcoin ETF has seen steady inflows totalling 134 Bitcoin worth over AUD 11 million. The fund is now collaborating with Hoseki to provide daily proof-of-reserves for its Bitcoin holdings.

Hoseki’s advanced verification process, Hoseki Verified, will enable Monochrome to deliver independently verified evidence that investor assets are fully accounted for. This ongoing auditing sets a higher standard for…

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Web Traffic Dynamics of Major Crypto Exchanges

In August, major crypto exchanges saw varied web traffic, reflecting the dynamic and volatile nature of the cryptocurrency market. Binance led the pack with a massive 53 million visits, despite a slight -1.5% drop compared to July. Coinbase followed with 31 million visits, experiencing a -4.6% decline, indicating a slight cooling in user activity.

Gate.io saw a significant increase, with visits rising by 24% to 25 million, highlighting its growing popularity. Conversely, Bybit witnessed a 12% decrease, totaling 24 million visits. Bitget and Whitebit also showed varying trends, with Bitget’s traffic decreasing by 10% to 19 million, while Whitebit’s surged by 66%, also reaching 19 million visits.

MEXC recorded the most substantial growth, with an impressive 160% increase in web traffic to 16 million visits, signaling expanding user engagement. BitMart enjoyed a 15% increase, reaching 11 million. HTX, however, saw a significant drop, with visits plummeting by 44% to just 8.7 million.

These statistics provide a snapshot of the competitive and ever-changing landscape of cryptocurrency exchanges, highlighting how user preferences and market dynamics can shift web traffic significantly within a short time.

Disclaimer: Market capitalizations and data 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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LATEST: Japanese Energy Giant TEPCO Uses Surplus Energy to Mine

Tokyo Electric Power Company (Tepco) through its subsidiary Agile Energy X is innovating in the renewable energy space by using wasted solar power for Bitcoin mining near Tokyo. This groundbreaking approach not only conserves energy but also enhances corporate earnings, as the firm could generate approximately 360 billion Japanese yen ($2.5 billion) annually by utilizing just 10% of surplus power.

Agile Energy X is operating mining rigs near solar farms in Gunma and Tochigi prefectures to capitalize on energy otherwise lost due to Japan’s “output control” practices. These practices involve reducing energy production to manage supply and demand, which in 2023 led to 1,920 gigawatt-hours of power being curtailed, equivalent to the yearly consumption of 450,000 households.

The initiative could revolutionize how utilities manage renewable resources, positioning Japan as a leader in sustainable cryptocurrency mining. This contrasts sharply with EU policies, drawing global attention to the potential of integrating Bitcoin mining into green energy strategies for enhanced utility efficiency and profitability.

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