Features TheBitTimes.com

On Monday, Feb. 27, 2023, the number of Ordinal inscriptions on the Bitcoin blockchain crossed 200,000 at 1:02 p.m. Eastern Time. In addition to the 200,000 inscriptions, Yuga Labs, creators of the Bored Ape Yacht Club (BAYC) non-fungible tokens (NFTs), revealed that the team had created a collection of 300 generative ordinal NFTs called Twelvefold. Bitcoin Clocks Over 200,000 Ordinal Inscriptions to Date; Yuga Labs Enters Bitcoin-Based Digital Collectibles Market Ordinal inscriptions continue to be minted on the Bitcoin blockchain and on Monday afternoon at 1:02 p.m. (ET), the number of Ordinals surpassed the 200,000 mark. It took approximately 72 days to reach the 200,000 range, as the first Ordinal inscription was minted on Dec. 16, 2022, at block height #767,753. The second Ordinal inscription, #2, was embedded into the chain three days later on Dec. 19 at block height #768,094. It took 45 days to reach the 1,000th inscription, which was minted on Feb. 2, 2023. Since then, the ra...

Lack of data accessibility is a key challenge for the NFT sector. Here is how a data analysis tool is bringing transparency and liquidity to the market. Nonfungible tokens (NFTs) have grown into a distinct sector within the blockchain industry, but they still have to address several challenges before aiming for mass adoption. One of the key issues of the space has to do with data accessibility, or mostly, the lack of it. Unlike the broader crypto industry, the NFT market is still in its infancy, and there are relatively few resources available for tracking NFT collections, exploring detailed statistics and analyzing market trends. To begin with, the NFT market lacks standardized data formats and metadata. This can make it difficult for NFT buyers and sellers to share and analyze data, such as ownership history, provenance and other important details. Without access to meaningful data, it can be challenging for buyers to make informed purchasing decisions and for creators to accurately...

Join Our Telegram channel to stay up to date on breaking news coverage Online publication Decrypt reports that cryptocurrency exchange CoinFLEX claims it gave the Luxembourg-based financial services business Blockchain.com a total of 3,000,000 FLEX coins last year and is now asking it to refund $4.3 million worth of FLEX coins or face legal action. In response, Blockchain.com stated, “This is entirely incorrect.” The notification, issued February 24, states that Blockchain.com has until March 7 to certify that it would return the FLEX coins, and it has until March 21 to transmit the money. Otherwise, CoinFLEX claims that the exchange will be subject to The initiation of legal processes, including but not limited to a formal demand for payment known as a statutory demand. According to the letter, Blockchain.com would then have a further 21 days to pay back the money, which is made up of four loans reportedly made between March and June of last year. The letter to B...

A well-known crypto strategist thinks that Bitcoin (BTC) will probably go up a lot in the middle term. Altcoin Sherpa, a fake analyst, tells his 192,400 Twitter followers that Bitcoin is about to go up in a big way. But first, he says, the price of the king of cryptocurrencies will go down. “BTC: my area of interest is $21,500. Right near the 200-day EMA [exponential moving average] and getting more in the HVN [high volume node] area. Price can still retrace 15% in these conditions and still move higher overall. I still believe we’re going to $30,000 eventually in the midterm.” Source: AltcoinSherpa/Twitter HVNs are price areas where a lot of trading took place, which suggests that the price has been stable for a while. These areas can act as either support or resistance. If Bitcoin follows Altcoin Sherpa’s plan, the price of the king cryptocurrency could drop to $21,500 before recovering and rising to $30,000. This would mean that BTC could go up by...

Join Our Telegram channel to stay up to date on breaking news coverage Coinbase, one of the largest crypto exchanges globally, announces the launch of an Ethereum Layer-2 Network, Base. Wha t- Coinbase launches its Ethereum Layer- 2 blockchains for Decentralized Apps. Why- The Network is designed to be a bridge to the cryptocurrency user What Next- The platform is providing a roadmap to mainnet and more developers’ resources for building on Base in a few weeks. On February 23, the crypto exchange revealed the launch of Base, an Ethereum layer-2 blockchain. According to the platform, Base will offer a secure, low-cost, developer-friendly environment for building de centralized applications (DApps) on the network. As per the exchange, the new network aims to onboard billions of users to the crypto space by providing an ecosystem that is accessible to developers. It would provide access to Coinbase’s products, users, tools, easy fiat on-ramps and powerful acquisi...

Join Our Telegram channel to stay up to date on breaking news coverage Even though Ethereum and Bitcoin are the two most popular cryptocurrencies, NEO has snowballed in recent years. The project is making good efforts to catch up with Ethereum, earning it the name “Chinese Ethereum.” As part of Neo’s public blockchain rollout, N3 has been updated to version 3. N3 updated to version 3 The timing could not have been better, considering Ethereum is struggling for a breather. As a well-positioned platform, developers expect NEO to boost the network’s transaction speeds to 5000 TPS while reducing gas fees by 100 times.  Furthermore, the NEO network will feature Oracle integration and a decentralized file storage system. Here is an expert price prediction for the coming weeks. Experts Predict NEO’s Price With a 24-hour trading volume of $128,829,354 USD, Neo is currently trading at $12.87 USD. In the last 24 hours, Neo has dropped 1.25%. With a ...

German asset manager DZ Bank collaborated with Swiss technology firm Metaco to add digital asset management into its services. DZ Bank, Germany’s second-largest bank in terms of asset size, will fully integrate digital currencies into its asset management services in collaboration with the digital asset firm Metaco. According to the announcement sent to Cointelegraph, DZ Bank selected Metaco's custody platform Harmonize to offer digital currencies to its institutional clients. Nils Christopeit, an executive at DZ Bank, said that the Metaco Harmonize platform suits their requirements in terms of security and scalability. “With the offering, we can build by using this technology, we trust to create a durable and fast-growing Business cooperation as well as an attractive solution for our clients that can also meet the requirements of digital currencies and decentralized financial instruments,” Christopeit added. Craig Perrin, the chief sales officer at Metaco, also commented on t...

Join Our Telegram channel to stay up to date on breaking news coverage Bitcoin retraces from the previous days ’ gains by around 2.8%. The token had a bullish run until the 21st of February, and the price saw an increase in value up to even $25,000. The sudden retrace was unexpected and has created questions about Bitcoin ’ s next move. A close-up look at Bitcoin ’ s prime price indicators could give some valuable insight into the token ’ s future performance. Bitcoin ’ s Behavior in the Last 24 Hours Today, Bitcoin ’ s price was $24,122 at the time of writing this article. In the last 24 hours, it has plunged by around 2.8%. The low of the last 24 hours is around $23,918. The high of the last 24 hours is around $24,798.2. There has been a hike of around 5.5% in its trading volume, which is currently at $31 billion. Bitcoin faced a bit of a hurdle in the last few hours. In the early hours of 22nd February 2023, its price dropped from $24,31...

BLUR price is also forming a Doji candlestick pattern on its four-hour chart, hinting at a bullish reversal ahead. Blur (BLUR) could rise by up to 30% by March 2023 owing to a mix of technical and fundamental factors. Blur airdrop hype Blur is a nonfungible token (NFT) aggregator that indexes digital art listings across various base marketplaces like LooksRare and OpenSea. In doing so, the aggregator allows users to trade across all NFTs marketplaces via a single interface. Since its launch in October 2022, Blur has become the leading NFT aggregator , accounting for 40%-60% of the daily NFT trading volume, according to data tracked by Messari. Blur versus other NFT marketplaces' volumes. Source: Messari The period has also witnessed the Blur team "airdropping" free BLUR tokens to users who have traded Ethereum-based NFTs in the past six months. On Feb. 15, Blur officially launched its native token of the same name, allowing airdrop recipients to trade it for fiat money a...

Revenue from cryptocurrency scams dropped 46% in 2022, according to blockchain data analytics firm Chainalysis. “We attribute most of this decline to market conditions, as scam performance tends to worsen when cryptocurrency prices are in decline,” the firm explained. ‘Crypto Scam Revenue Fell Significantly in 2022’ Blockchain data analytics firm Chainalysis published its 2023 Crypto Crime Report last week with a section on crypto scams. “Crypto scam revenue dropped 46% in 2022,” the 109-page report reads, elaborating: Crypto scam revenue fell significantly in 2022, from $10.9 billion the year prior to just $5.9 billion. Chainalysis tracks several types of crypto scams, including giveaway scams, impersonation scams, investment scams, non-fungible token (NFT) scams, and romance scams. Noting its numbers are “a lower-bound estimate,” the blockchain analytics firm explained that “estimates of the true amount lost to fraudsters will...

As the crypto industry recovers, a new generation of modular blockchains could replace centralized bridges and exchanges. The public blockchain sector grew from less than a few million dollars in the last decade to a $1 trillion industry. However, one thing that the space has yet to solve is a decentralized and secure interoperable solution. Let's take Ethereum (ETH) to Bitcoin (BTC), the largest blockchain network, for example. Till today, centralized exchanges are the only viable solution for shifting from one chain to another. A centralized solution provider, BitGo, provides the largest pool of liquidity for Ethereum users to gain BTC exposure via Wrapped Bitcoin (WBTC). The BitGo IOU accounts for over 93.6% of the Bitcoin bridged to Ethereum. Users must rely on BitGo partner platforms like centralized exchanges or CoinList to exchange BTC and WBTC. The dominance of WBTC exposes it to evident centralization and regulatory risks. RenBTC, a platform managed by Alameda Research, d...

Bitcoin (BTC) is currently testing the $25,000. Since last week, the original cryptocurrency has made gains of nearly 12%. BTC is currently trading at a level not seen since mid-June 2022. Moreover, there is evidence that BTC might have reached its bottom. According to CryptoQuant, five on-chain metrics prove Bitcoin (BTC) has reached its bottom. MVRV Ratio : Firstly, CryptoQuant mentions the MVRV Ratio. This ratio determines if BTC is overpriced or undervalued by comparing its market cap to its realized cap. If the value goes high, it signals that the asset is overvalued, and if it goes low, it is undervalued. Furthermore, BTC’s current MVRV ratio is in the neutral zone, indicating a fair value. Source: CryptoQuant Supply in Loss : The next metric is the Supply in Loss percentage. The metric helps in determining market sentiment. The amount of Bitcoin (BTC) held at a loss reached its peak from mid-July to late December 2022. Source: CryptoQuant SOPR Ratio (Spent out...