Daily Archives: April 25, 2024

Benzinga - by Benzinga Insights, Benzinga Staff Writer.

OKB's (CRYPTO:OKB) price has decreased 3.04% over the past 24 hours to $53.0, continuing its downward trend over the past week of -5.0%, moving from $55.65 to its current price.

The chart below compares the price movement and volatility for OKB 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 decreased 32.0% over the past week, while the overall circulating supply of the coin has increased 0.8% to over 60.00 million. This puts its current circulating supply at an estimated 20.0% of its max supply, which is 300.00 million. The current market cap ranking for OKB is #39 at $3.18 billion.

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2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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Cryptocurrency OKB Decreases More Than 3% Within 24 hours - Investing.com UK

According to a recent statement from the Chairman of the Russian State Duma Committee on the Financial Market Anatoly Aksakov, the BRICS bloc is working to replace the US dollar with cryptocurrency for trade. Indeed, Aksakoc discussed the alliances work to utilize digital assets in place of fiat currency for international transactions.

The economic alliance has long embraced its de-dollarization initiatives, along with the promotion of its local currencies. Subsequently, the development of digital currency solutions has been a priority since the arrival of its BRICS Pay system. Now, those efforts are set to carry the b loc toward a dollar-less future.

Also Read: BRICS To Announce Membership of New Countries in 2024

Throughout the last year, the BRICS bloc has embraced its opportunity to create a multipolar world. Its five-nation expansion effort enacted at its 2023 annual summit was one of the key pillars of that. However, so too is its commitment to the further embrace of local currencies in unilateral trade dealings.

Now, the alliance is taking a clear step forward in that regard, as the BRICS bloc is seeking to replace the US Dollar with cryptocurrency for international trade. Indeed, Russia stated that the bloc represents a serious channel to replace fiat currencies in international transactions.

What makes the prospect of this all the more interesting for the collective is that they appear committed to developing their own Central Bank Digital Currencies (CBDC) for which to substitute with fiat. Alternatively, the United States has been clear on its stance against such a project in the West.

Also Read: BRICS: Major Update On Russias Economy Announced

Altogether, these projects should provide a clear opportunity for the BRICS bloc to continue to de-dollarize. Moreover, Russian Deputy Foreign Minister Sergey Ryabkov has recently discussed the development of new platforms for financial dealings. Specifically, these would support the presence of increased digital assets as opposed to fiat offerings.

Ryabkov discussed the option of creating a platform that would unite the financial systems of the BRICS members. What he called a BRICS Bridge would require stablecoins or other digitized currency forms. This would integrate a clear way for the ten BRICS countries to de-dollarize.

However, it would also increase concern with the US dollar being absent from any international dealing with the alliance members, and nations seeking to embrace such unilateral trade.

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BRICS To Replace US Dollar With Cryptocurrency for Trade - Watcher Guru

In an unprecedented turn of events, Bitcoin, the digital cryptocurrency that has taken the world by storm, underwent a significant transformation on April 20th. The fourth halving took place, effectively slashing in half the amount of Bitcoin miners can earn for successfully processing transactions. The rewards per block dramatically plummeted from 6.25 Bitcoins to a mere 3.125, a staggering 50% reduction that has brought about a serious upheaval in the interconnected realm of cryptocurrency.

This monumental decrease, hardwired into Bitcoins own protocol, is causing the cryptocurrency sector to scramble in adapting to this new reality. The current sentiment leans towards a bullish outlook, primarily because previous halvings have given way to substantial bull runs.

Such dramatic changes naturally prompt reflection among crypto businesses and marketers on potential alterations in consumer behavior due to the increasing scarcity of coins and the rise in their prices. The rising question is how their existing marketing strategies should evolve against the backdrop of this transition. The implications of these changes should be thoroughly examined to devise marketing strategies that continue to resonate with consumers in this novel era of cryptocurrency.

It is common knowledge that the realm of cryptocurrency is notorious for its volatility: token prices can fluctuate dramatically and billions of market capitalization can flow in or out with alarming speed due to news events. The repercussions of a seismic event such as the halving are certain to stir up significant volatility.

The halving implies that the reward miners receive for adding each block successfully to the blockchain is halved. During the earliest blocks, miners were rewarded with 50 Bitcoins. Now, they extract only 3.125 Bitcoins. This shift necessitates a minor exodus. Facing dwindling profits, numerous miners may cease their operations, sell their Bitcoins, and potentially switch to mining other currencies. The direct result of this could be a reduced hash rate and fewer new Bitcoins entering the market. Historical evidence suggests that such a condition may trigger a significant bull run in Bitcoins price within 12 to 18 months due largely to increased demand and limited supply.

The halving does not simply present challenges; it also offers opportunities. Those involved in the cryptocurrency sector would do well to accentuate the potential upside, especially given the prospects of price increases. Its an opening to leverage FOMO (Fear of Missing Out), but discretion is key here. Instead of reckless promises and unabashed promotion, offering an expert narration of the actual scenario seems far more sensible. Back up potential price increases with historical data on the impact of preceding halvings and the consequent major price leaps.

Bringing in experts from a crypto PR company offers a chance to amplify your brands voice. They can finesse your key messages to a wider audience and aid in boosting results. Specialized crypto PR professionals have a unique understanding of the technical depth and nuances of the crypto world, ensuring your project gets the coverage it deserves.

The halving is also a chance to educate and share know-how, as news and hype will attract newbies to the scene. Creating informative, digestible content will enable your brand to build trust, gain reputation, and win over these newcomers.

Indicating long-term perspectives, particularly during volatile times, is essential alongside ensuring consistent engagement on social media platforms and personal communities.

The recent Bitcoin halving has sent significant ripples across the market, with everyone holding their breath to see the impact of this fourth instalment. In leaning into the FOMO, the bull run appears inevitable. However, the most valuable long term play rests with providing guidance and education to the influx of new users. This not only puts you ahead of the curve but also bolsters your projects reputation.

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Bitcoin Halving Sparks Unprecedented Transformation in Cryptocurrency Market - West Island Blog

Benzinga - by Benzinga Insights, Benzinga Staff Writer.

Uniswap's (CRYPTO: UNI) price has increased 3.22% over the past 24 hours to $7.98. Over the past week, UNI has experienced an uptick of over 11.0%, moving from $7.19 to its current price. As it stands right now, the coin's all-time high is $44.92.

The chart below compares the price movement and volatility for Uniswap 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 1.0% over the past week while the overall circulating supply of the coin has increased 0.04% to over 753.77 million which makes up an estimated 75.38% of its max supply, which is 1.00 billion. The current market cap ranking for UNI is #23 at $6.03 billion.

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Cryptocurrency Uniswap Up More Than 3% In 24 hours By Benzinga - Investing.com UK

Bitcoin, the largest and most talked about digital asset, has been on a rollercoaster of a ride since its launch in January 2009. With a market capitalisation that reached a high of more than US$1.4 trillion (1.125 trillion) this February and volatile swings since, bitcoin has attracted lots of attention recently.

Now a hotly anticipated recurring event that happens roughly every four years is taking place: the bitcoin halving. This could have further significant impact on the value of the cryptocurrency.

To understand what the halving is and what it could mean, we have to understand how bitcoin works. Bitcoin is a digital currency that makes use of whats called blockchain technology to securely store, record and publicly publish all transactions.

It is distinct from fiat currencies, such as dollars or pounds, because it has no central authority and members of the network have equal power. Each transaction is made and recorded with the users public address, a code that enables them to remain anonymous.

Bitcoins are created by so-called miners who contribute computing power to secure the network and solve complex mathematical puzzles in order to process transaction data. These miners are then rewarded for their work with newly minted bitcoins.

The idea for bitcoin was first proposed in a white paper published online in 2008 by a mysterious individual or group using the pseudonym Satoshi Nakamoto. To combat inflation, Nakamoto wrote into the code that the total number of bitcoins will only ever be 21 million. Currently, more than 19.6 million bitcoins have been mined.

At the beginning, back in 2009, miners received 50 bitcoins for every block (unit of transaction data) they mined. But after every 210,000 blocks (roughly every four years), the reward halves.

So in 2012 the reward fell to 25 bitcoins, then to 12.5 bitcoins in 2016 and to 6.25 bitcoins in 2020. The latest halving means the reward will be just 3.125 bitcoins.

Nakamoto has never explained explicitly the reasons behind the halving. Some speculate that the halving system was designed to distribute coins more quickly at the beginning to incentivise people to join the network and mine new blocks. Block rewards are programmed to halve at regular intervals because the value of each coin rewarded is deemed likely to increase as the network expands.

But this may lead to users holding bitcoin as a speculative asset rather than using it as a medium of exchange. Additionally, the 21 million cap on the number of coins that can enter circulation makes them scarce (at least in comparison to dollars or euros), which for some people is enough to make them valuable.

So what impact does the halving have on the price? After the halving, the number of new bitcoin entering circulation shrinks. Demand should, in theory, be unaffected by this event and therefore the price should go up.

The theory is that there will be less bitcoin available to buy if miners have less to sell, said Michael Dubrovsky, a co-founder of PoWx, a crypto research non-profit. While the first halving happened in 2012, when bitcoin was less well known and quite hard to buy and sell, we can learn from the subsequent two halvings.

The second halving on July 16 2016 was highly anticipated. The price dropped by 10%, but then shot back up to where it had been before. Although the immediate impact on the price was small, bitcoin did eventually respond and some argue that the 2017 bull run when the market boomed was a delayed result of the halving.

Beginning the year around US$900, by the end of 2017 bitcoin was trading above US$19,000. The third halving in 2020 happened during a bullish period for bitcoin and it continued to rise to more than US$56,000 in 2021.

These few data points are not enough however to offer any concrete causal relationship or trend. But we do know that instantly miners rewards are halved, meaning their revenue immediately halves and their profit margins are severely affected. Consequently, unless there is a price appreciation, many miners may become unprofitable and could cease the practice.

Bitcoins scarcity is arguably one of its most significant characteristics, especially in a time of high inflation, quantitative easing and high interest rates. With the real value of fiat currencies falling, bitcoins limited supply is an attractive feature and can be reassuring for investors.

Bitcoin hit an all-time high in February following the approval of bitcoin exchange-traded funds, which effectively make it easier for retail investors and big banks to invest in bitcoin.

This, coupled with a more favourable regulatory environment on the horizon and the fact that it is becoming more integrated in the financial system, means bitcoin may continue on the rise it has experienced in 2024 so far.

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Bitcoin is halving again what does that mean for the cryptocurrency and the market? - The Conversation

Benzinga - by Benzinga Insights, Benzinga Staff Writer.

Over the past 24 hours, Ethereum Classic's (CRYPTO: ETC) price has fallen 4.45% to $26.03. This continues its negative trend over the past week where it has experienced a 0.0% loss, moving from $26.11 to its current price.

The chart below compares the price movement and volatility for Ethereum Classic 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.

Ethereum Classic's trading volume has climbed 8.0% over the past week, moving in tandem, directionally, with the overall circulating supply of the coin, which has increased 0.0%. This brings the circulating supply to 146.73 million, which makes up an estimated 69.64% of its max supply of 210.70 million. According to our data, the current market cap ranking for ETC is #29 at $3.83 billion.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.

2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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Cryptocurrency Ethereum Classic Down More Than 4% Within 24 hours By Benzinga - Investing.com UK

"The ability to accept payments across the Bitcoin, Ethereum, Tron, Polygon, Solana, and more networks is a direct result of listening to our customers' needs and adapting to provide the best possible experience." - Dustin B. Cisneros, CEO of RackNerd

"We are thrilled to integrate with Coinify and offer our customers the ability to pay with over 30 different cryptocurrencies," said Dustin B. Cisneros, CEO of RackNerd. "This move aligns with our mission to continuously enhance our services and provide our clients with a seamless, compliant and diverse payment experience."

Coinify offers a diverse range of cryptocurrency acceptance, providing customers with flexibility and choice in their payment options. One of the key highlights of this integration is the acceptance of USDT TRC20, a highly requested cryptocurrency by RackNerd's user base. By supporting USDT TRC20, the company aims to offer faster confirmations and lower fees, further improving the overall payment process for its customers.

"At RackNerd, we value the feedback from our users and strive to incorporate their suggestions into our offerings," added Cisneros. "The ability to accept payments across the Bitcoin, Ethereum, Tron, Polygon, Solana, and more networks is a direct result of listening to our customers' needs and adapting to provide the best possible experience."

In addition to the expanded cryptocurrency support, RackNerd's integration with Coinify brings a simplified payment process. Customers can easily scan a QR code or navigate to the "copy details" tab to obtain the wallet address and payment amount, eliminating the need for a wallet connection.

"Hosting companies are at the forefront of the digital transformation, providing mission-critical services to businesses and individuals alike," said Pavel Georgiev, Account Executive at Coinify. "As cryptocurrency adoption continues to grow, accepting digital payments has become a strategic decision for forward-thinking companies. We are excited to partner with RackNerd, a leading web hosting and IaaS provider, to enable their customers to pay with a diverse range of cryptocurrencies. This integration demonstrates RackNerd's commitment to embracing innovative payment solutions and delivering a seamless and compliant experience for their customers in the ever-evolving digital landscape."

RackNerd remains committed to continuously improving its services and embracing innovative technologies to meet the evolving needs of its customers. This partnership with Coinify reinforces the company's dedication to providing reliable infrastructure solutions and a seamless payment experience.

For more information about RackNerd's cryptocurrency payment options and services, please visit https://www.racknerd.com/

For more information about Coinify's cryptocurrency payment processing services, please visit https://www.coinify.com/

About RackNerd:

RackNerd introduces infrastructure stability and provides Dedicated Servers, Private Cloud solutions, DRaaS (Disaster-Recovery-as-a-Service), flexible Colocation, Virtual Private Servers, and advanced DDoS Mitigation services maintained by a team with decades of experience in managed services, datacenter operations, and Infrastructure-as-a-Service. With an intrinsic focus on client success and growth, RackNerd has grown steadily while continuing to provide high-quality hosting services at competitive rates.

About Coinify:

Coinify ApS is a leading global virtual currency platform providing innovative solutions across Europe, Asia and the US, and other regions. Established in 2014 in Copenhagen, Denmark, Coinify specialises in payment processing services, individual currency trading, corporate brokerage and enterprise solutions through the Coinify API. The platform empowers business and individuals to engage with financial innovation seamlessly and compliantly, with a presence in more than +180 markets worldwide.

As a founding member of Blockchain and Virtual Currencies Working Group under the European Commision, Coinify takes and active role in shaping new industry standards. The company is committed to regulatory compliance and adhere to international laws, including the EU 5th Anti-Money Laundering Directive. This dedidacion ensures Coinify maintains the highest standards of integrity and transparency across all its operations.

Media Contact

Dustin Cisneros, https://www.racknerd.com/, 1 8888816373, [emailprotected], https://www.racknerd.com/

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RackNerd Expands Cryptocurrency Payment Options with Coinify Integration, Accepting Over 30 Cryptocurrencies - PR Web