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Solana XRP ETFs Next?

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Solana, XRP ETFs Next? Standard Chartered Sees Possibility After Ethereum Approval

By Brenda Ngari – May 24, 2024

Now that the Securities and Exchange Commission (SEC) has finally given the go-ahead to spot Ethereum exchange-traded funds (ETFs), the regulator might also greenlight other crypto ETFs.

According to British multi-national bank Standard Chartered, Ripple’s XRP and Solana (SOL) could emerge as the next crypto ETF frontiers after ether.

SOL, XRP ETFs “Likely A 2025 Story”

Standard Chartered thinks Solana or XRP could be the next contenders after the U.S. Securities and Exchange Commission approved key forms 19b-4 filed by prospective issuers. However, the British banking giant said they don’t believe these SOL and XRP products will happen in 2024.

“For other coins (eg. SOL, XRP), markets will look ahead to their eventual ETF status as well, albeit this is likely a 2025 story, not a 2024 one,” Geoffrey Kendrick, head of forex and digital assets research at Standard Chartered noted. “For now, bitcoin and ether dominance will rise, with selective “next in line” winners as well.”

The SEC yesterday gave the regulatory blessing to eight spot Ethereum ETFs. The move follows the approval of similar spot Bitcoin exchange-traded funds back in January. The shocking and historic move means that Ethereum is not categorized as a security by the SEC, thus indicating that other ether-like tokens, which were previously under the regulator’s scrutiny, may not be deemed securities, as per Kendrick.

“In several cases the core technology is so similar to ETH it would be difficult for the SEC to claim they were securities given the ETH position,” Kendrick posited. “The crypto industry now seems to have political backing on both sides of the aisle.”

The SEC chairman Gary Gensler has long maintained that all coins and tokens on the crypto market, besides Bitcoin, are securities, and are thus breaking the law by offering them to US investors. SOL and XRP have previously been named as unregistered securities in different SEC lawsuits.

Gensler had also hinted that Ether’s monumental shift to a proof-of-stake consensus model could transform the second-largest crypto into a security. In fact, one high-profile lawsuit against the SEC even alleged that the SEC was seriously considering designating Ethereum as a security, and not a commodity.

Standard Chartered described the Thursday approval as a “true watershed moment”, adding that the next question is not whether but when the crypto industry will witness more regulatory changes.

Lofty Price Targets

Standard Chartered reiterated its previous prediction of Ether hitting $8,000 per coin by the end of the year. Analyst Kendrick anticipates the trading of the spot ETH ETFs to start trading next month and sees such funds attracting $15-$45 billion within the first 12 months.

Notably, the ether ETFs will only start trading after the approval of S-1 registration statements — which have so far only been submitted by a few would-be issuers.

Standard Chartered previously said it sees a $150,000 Bitcoin price tag by year-end. The bank said today that this price was still possible with the continuing massive inflows for spot Bitcoin exchange-traded funds. “A portfolio containing both BTC and ETH ETFs is likely attractive and the industry has been further validated by the SEC’s decision on ETH,” the bank’s researcher summarized.

DISCLAIMER The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.

The original article written by Brenda Ngari and posted on Zycrypto.com.

Article reposted on Markethive by Jeffrey Sloe

** Loans, secure funding for business projects in the USA and around the world. Learn more about USA & International Financing at Commercial Funding International. **

Tim Moseley

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Pundit Predicts A Spot Solana ETF Approval After Ethereum

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Pundit Predicts A Spot Solana ETF Approval After Ethereum

By Newton Gitonga – May 23, 2024

As the cryptocurrency community eagerly anticipates the potential approval of Spot Ethereum exchange-traded funds(ETFs), Matrixport co-founder Daniel Yang has ignited speculation about Solana (SOL) being the next in line for such investment products.

Yang’s remarks come amid heightened interest in cryptocurrency ETFs following recent regulatory developments.

On Tuesday, May 21, Yang highlighted the significant impact of reports suggesting that the Securities and Exchange Commission (SEC) has requested issuers to update Form 19b-4 in their product applications. Notably, following these reports, he pointed out the surge in the Ethereum to Bitcoin (ETH/BTC) pair, indicating market optimism surrounding ETF approvals and expressing hope of seeing a SOL ETF soon after Ether’s.

“What’s the trade, if ETH ETF really get approved in two days?…. A better trade I will argue for is: “BUY SOL/ETH.” This may sound absurd and definitely unpopular. Reasons are: 1) SOL will be the No.1 next in line if ETH ETF get approved.” Wrote Yang.

Elsewhere, analysts, including one identified as ‘Gumshoe,’ also view the approval of Ethereum-based instruments as potentially more advantageous for Solana than for Ethereum itself. Earlier this week, the pundit argued that a rejection could make Ethereum less appealing while enhancing Solana’s attractiveness as an investment option.

Nevertheless, the cryptocurrency community is concerned about the broader implications of ETF approval processes. Should any ETF applications be rejected, it could deliver a significant blow to the sector, prompting what one observer likened to a “nuclear strike” on market sentiment.

Industry experts have outlined bullish scenarios for Solana’s price trajectory. Ryan McMillin, investment director at Merkle Tree Capital, predicts a rise in Solana’s value to $400 by November 2024, citing a potential catalyst in meme coins related to the upcoming US election campaign.

Echoing this sentiment, Daniel Chung, co-founder of Syncracy Capital, anticipates Solana will revisit $200 by the end of May. These projections reflect a positive outlook on Solana’s fundamentals and positioning within the broader cryptocurrency landscape.

Moreover, Solana’s technological prowess has not gone unnoticed, with CoinGecko analysts recognizing its network as the fastest among major blockchains. Notably, on April 6, the Solana network achieved a record-high average daily transaction throughput of 1,504, further solidifying its status as a leading blockchain platform. Analysts from The Digital Asset Fund Manager Survey also highlighted how institutional demand for the crypto asset had soared in the same month, underscoring their bullish outlook.

That said, as anticipation builds around the potential approval of Ethereum ETFs, all eyes are now turning to Solana, poised to capitalize on the momentum generated by its predecessor. Whether Solana will follow in Ethereum’s footsteps remains to be seen, but market sentiment suggests that the cryptocurrency’s future is brimming with potential.

At press time, Solana was trading at $171, reflecting a 4.28% drop over the past 24 hours. However, the coin surged nearly 9% over the past week, with a market capitalization of $77 billion, according to CoinMarketCap data.

DISCLAIMER: None Of The Information You Read On ZyCrypto Should Be Regarded As Investment Advice. Cryptocurrencies Are Highly Volatile, Conduct Your Own Research Before Making Any Investment Decisions.

The original article written by Newton Gitonga and posted on ZyCrypto.com.

Article reposted on Markethive by Jeffrey Sloe

** Get secure funding for business projects in the USA and around the world. Learn more about USA & International Financing at Commercial Funding International. **

Tim Moseley

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Trump Taps Into Crypto Craze

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Trump Taps Into Crypto Craze By Accepting Bitcoin, Ether, Solana, Shiba Inu, Dogecoin Donations

By Newton Gitonga – May 22, 2024

Former U.S. President Donald Trump has announced that he will begin accepting donations in cryptocurrency for his presidential campaign, making him the first major party presidential nominee to do so.

On Tuesday, May 21, his campaign team launched a fundraising page that allows donors to contribute using various cryptocurrencies, including Bitcoin, Ether, Solana, SHIB, and DOGE.

The page, hosted on the Coinbase platform, allows donors to contribute using any cryptocurrency accepted by the exchange.

“Today, President Trump’s campaign has launched a fundraising page that provides any federally permissible donor the ability to give – through its joint fundraising committees – using any cryptocurrency accepted through the Coinbase Commerce product.” An announcement on Trump’s official campaign website read.

The decision to accept cryptocurrency donations is seen as a move to appeal to a younger demographic increasingly interested in digital assets. Interestingly, the campaign’s announcement quoted a representative from Coinbase, Julia Krieger, as saying, “Crypto is nonpartisan and moves money forward because it’s cheaper and faster.”

It is also seen as a way to promote the president’s message of reducing government control over financial decisions.

“As our President, Donald J. Trump has reduced regulations and championed innovation in financial technology, while Democrats, like Biden and his official surrogate Elizabeth Warren, continue to believe only government has the answers to how our nation leads the world.” The announcement further read.

That said, Trump’s decision to accept cryptocurrency donations for his campaign is not without controversy. Concerns about the anonymity of cryptocurrency transactions have been raised, which could pose challenges in verifying donors’ identities. Nevertheless, the campaign team assured compliance with Federal Election Commission regulations, committing to transparent disclosure of donation sources.

Notably, Trump’s campaign announcement resonates with a message of empowerment, rallying supporters under the banner of a “crypto army” poised to secure victory in the upcoming election. The decision to accept crypto comes just days after Trump poked fun at President Joe Biden for seemingly not understanding cryptocurrencies like himself.

In response to Trump’s initiative, Biden’s supporters allegedly swiftly issued a call for donations, highlighting concerns about being “outraised” by “crypto executives” backing Trump, as seen via a widely circulated screenshot.

That said, Trump is not alone in recognizing the allure of cryptocurrencies in the political arena. Rival candidate Robert F. Kennedy Jr. has embraced Bitcoin, citing its symbolic significance as a beacon of democracy and freedom. Additionally, candidates in smaller races, such as pro-Ripple lawyer John Deaton in Massachusetts, leverage cryptocurrency donations to challenge incumbent opponents like Senator Elizabeth Warren, who has espoused anti-crypto legislation.

DISCLAIMER The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.

The original article written by Newton Gitonga and posted on ZyCrypto.com.

Article reposted on Markethive by Jeffrey Sloe

** Loans, secure funding for business projects in the USA and around the world. Learn more about USA & International Financing at Commercial Funding International. **

Tim Moseley

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Top Trader Exits Bitcoin

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Altseason: Top Trader Exits Bitcoin, Predicts Insane Ether, XRP, Solana, Cardano, Shiba Inu Price Explosions

By Arnold Kirimi – May 17, 2024

Popular cryptocurrency analyst and trader Michaël van de Poppe has liquidated his Bitcoin holdings. Van de Poppe, a prominent figure at the Amsterdam Stock Exchange known for his sharp market insights, announced this strategic move to his 718,100 followers on social media platform X on May 16.

Despite Bitcoin’s strong performance and institutional support, Van de Poppe clarified that his decision to liquidate was not due to losing confidence in Bitcoin’s future. Instead, he aims to strategically reallocate his investments into altcoins, where he anticipates greater potential returns later in the year. As such, this move is part of a broader strategy to capitalize on market dynamics and emerging opportunities for Van De Poppe.

Institutional Influx and Evolving Bitcoin Dynamics

Van de Poppe highlighted the increasing involvement of major institutional investors in the Bitcoin market, citing the recent approval of the Spot Bitcoin ETF as a significant milestone.

Institutions such as pension funds, insurance companies, and hedge funds are now heavily investing in Bitcoin, further legitimizing its role as a mature financial asset. Additionally, the potential introduction of spot Bitcoin trading by CME Group has reinforced Bitcoin’s standing in the financial ecosystem.

However, Van de Poppe pointed out that Bitcoin’s traditional four-year cycle, heavily influenced by halving events, is becoming less predictable. He explained, “That automatically means that the simplicity of the four-year cycle is going to diminish over time and that the halving will have a reduction in impact over the cycles, as institutions care more about risk appetite in their portfolio combined with macroeconomic events taking place.”

Van De Poppe Turns to Altcoins, Eyes Big Gains

Van de Poppe is confident that altcoins like Ether, XRP, Solana, Cardano, and Shiba Inu have the potential to higher returns than Bitcoin in the present market environment. Traditionally, there’s a market shift from Bitcoin to altcoins around the halving cycle. However, given Bitcoin’s persistent strength during this cycle, he expects an upcoming transition that could greatly benefit altcoins.

He also discussed the possible impacts of a spot Ethereum ETF getting the green light despite the existing regulatory challenges. Van de Poppe suggests that the market might be undervaluing the chances and timeline of this approval, which could trigger a significant market shift if it comes to fruition.

High Risks for Potential High Rewards

Acknowledging the high risks associated with his strategy, Van de Poppe expressed confidence in achieving substantial returns, ranging from 300-900% in Bitcoin value within the next 6-12 months. Additionally, he projected overall potential returns of 900-4500% over the next 12-24 months, provided Bitcoin stabilizes.

Additionally, Van de Poppe argued that altcoins have faced undue downward pressure recently, making their potential upside significant and undeniable. He emphasized that Decentralized Physical Infrastructure Networks (DePIN) and Real-World Assets (RWA) are poised for substantial growth. As more traditional companies transition into the Web 3.0 ecosystem.

DISCLAIMER: None Of The Information You Read On ZyCrypto Should Be Regarded As Investment Advice. Cryptocurrencies Are Highly Volatile, Conduct Your Own Research Before Making Any Investment Decisions.

The original article written by Arnold Kirimi and posted on ZyCrypto.com.

Article reposted on Markethive by Jeffrey Sloe

** Get secure funding for business projects in the USA and around the world. Learn more about USA & International Financing at Commercial Funding International. **

Tim Moseley

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Bitcoin’s Ascent In Coming Months

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Bitcoin’s Ascent In Coming Months ‘Will Be One For The Record Books’ — BTC Price Analysis

By Brenda Ngari – May 16, 2024

On May 15, Bitcoin (BTC) recorded its largest single-day gain in nearly two months as weaker U.S. economic data raised the likelihood that the U.S. Federal Reserve will ease monetary policy with interest rate cuts in the coming months.

The price of the benchmark cryptocurrency soared to an intraday high of $66,567.91 during the last 24 hours. And according to prominent Bitcoin analyst Willy Woo, the bull cycle is only starting.

Woo Expects Bullish BTC Price Breakout Before October

Willy Woo, a popular on-chain Bitcoin strategist and managing partner at CMCC Crest, told his 1.1 million followers on the X platform that he envisions a Bitcoin price breakout before October 2024. Woo believes the subsequent Bitcoin rally in 2025 will be “one for the record books”.

The crypto guru says increased global liquidity, which normally bodes well with risk assets like Bitcoin, will spur the stratospheric BTC rally:

“Global liquidity forming a bullish ascending triangle.”

An ascending triangle is typically a bullish indicator that forms when an area of horizontal resistance is continuously tested while higher lows are successively created.

Woo Forecasts When Bitcoin Mining Pressure Will Ease

In a related post, Willy Woo noted that the Bitcoin price advances parabolically roughly two to five months post-halving. Bitcoin underwent its fourth halving event on April 19th.

In Woo’s view, inefficient miners are eliminated from the ecosystem after the halving. According to the analyst, they prefer to dump their Bitcoin holdings before dying. This leaves only the fittest miners to survive, operating “on fatter margins so don’t need to sell.” This dynamic is expected to push miner sell pressure out.

Fellow Bitcoin analyst PlanB agrees with Woo, stating that Bitcoin miner revenue “historically recovers 2-5 months after a halving, and after that bitcoin price goes vertical.”

DISCLAIMER The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.

The original article written by Brenda Ngari and posted on ZyCrypto.com.

Article reposted on Markethive by Jeffrey Sloe

** Loans, secure funding for business projects in the USA and around the world. Learn more about USA & International Financing at Commercial Funding International. **

Tim Moseley

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Bitcoin Price Taps 65K

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Bitcoin Price Taps $65K As Analyst Who Nailed Pre-Halving All-Time High Says $95,000 Is ‘Quite Obvious’

By Brenda Ngari – May 15, 2024

The price of Bitcoin (BTC) today soared past the $65,000 mark for the first time since May 6. The climb came after U.S. data showed that the monthly pace of inflation was softer than expected in April. This development could spur the Fed’s willingness to begin rate cuts.

Meanwhile, BitQuant, who correctly called the Bitcoin lifetime high before the April halving event, sees Bitcoin hitting $95,000 “in just one move.”

Bitcoin Price Leaps Over $65K

Bitcoin rebounded strongly immediately after the U.S. Bureau of Labor Statistics released its new Consumer Price Index (CPI). The CPI report comes after a slew of higher-than-expected inflation readings, dampening traders’ hopes about when rate cuts might commence this year.

The BTC price now hovers at $66,034, CoinGecko data shows. That’s a 7.29% increase over the last 24-hour trading period. And Ether (ETH), the industry’s second-biggest crypto asset by market cap, was changing hands for $3,007.94 — a 3.9% gain compared to yesterday’s. Over the same period, Solana (SOL) jumped 7.6% to around $154.91.

Bitcoin set a new all-time high in March, nearing breaching the $74,000 level. This was a widely celebrated Bitcoin bull rally that some said showed unique strength despite coming before the long-awaited April halving. But the premier crypto soon fluttered downward, a trend attributed to headwinds ranging from depressing U.S. economic metrics to growing political unrest in the Middle East.

Was the halving priced in, or is a new all-time high for this cycle on the horizon? Analyst BitQuant believes a new peak is imminent.

Bitcoin’s Looming Explosive Price Move To $95,000

Bitcoin is gearing up to continue upward and should advance to an eye-popping $95,000. As per BitQuant, such sky-high BTC price heights are a matter of time.

“$95K will be achieved in just one move, and that is quite obvious,” he postulated on X. “Will that move start today, tomorrow, or the day after tomorrow? I don’t think anyone knows.”

BitQuant was reacting to commentary from fellow crypto analyst Mikybull Crypto, who noted a “cup and handle” formation on Bitcoin’s weekly chart.

The setup comprises a consolidation phase following a run-up, a correction, and an ensuing move higher. In Mikybull Crypto’s view, this results in an astronomical flight to new highs. “The breakout will be explosive and will send it to a cycle top,” he observed in an X post.

Meanwhile, the nearly a dozen new U.S. spot Bitcoin ETFs have seen billions of dollars in inflows so far, which has not only helped re-legitimize crypto given the involvement of trustworthy Wall Street titans such as BlackRock, Fidelity, and JPMorgan but also put considerable buying pressure on Bitcoin.

DISCLAIMER The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.

The original article written by Brenda Ngari and posted on Zycrypto.com.

Article reposted on Markethive by Jeffrey Sloe

** Loans, secure funding for business projects in the USA and around the world. Learn more about USA & International Financing at Commercial Funding International. **

Tim Moseley

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Bitcoin Settles Into 62000 As Traders Set Their Sights On 100000 Backed By Bullish Fundamentals

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Bitcoin Settles Into $62,000 As Traders Set Their Sights On $100,000, Backed By Bullish Fundamentals

By Aliyu Pokima – May 8, 2024

After a torrid week, Bitcoin’s (BTC) price settled at around $62,000, with traders bracing for a continuous rally that could send asset prices to $100,000.

Only last week, prices dipped below $60K for the first time in two months, fuelling grim speculation for a sustained selloff that could drive prices even lower. However, things began to look promising for the largest cryptocurrency as May rolled on, with BTC climbing as high as $64K before settling at $63,000.

Right out of the bat, BTC’s upswing can be traced to a wave of positives, including a disappointing macroeconomic outlook in the US. According to reports, the US added only 175,000 jobs in April – a far cry from the 315,000 reached in March, fuelling a hawkish stance by the Feds.

Following the FOMC meeting at the start of April, pundits observed a reluctance by policymakers to cut interest rates while hinting toward quantitative tightening.

“We believe that the FOMC’s more dovish-than-expected statement has signaled the peak in the USD’s upward momentum against both foreign currencies and crypto pairs,” wrote one analyst.

Despite the promising outlook, the ex-CEO of BitMEX Arthur Hayes warned investors to brace for a dip in the near future before an uphill climb to higher prices. However, Hayes remained cautious in his prediction, eyeing prices to hover around $60K and $70K before breaking the resistance to post higher figures.

Traders are already rippling with enthusiasm for higher prices as evidenced by rising numbers of active bitcoin call contracts, placing the asset on the path to the least resistance. According to QCP Capital, the buildup of call options has seen investors anticipating prices as high as $100K before the end of the year.

“We are seeing some bullish follow-through in volatility and rates following the reversal bounce from Friday and into the weekend,” read a note from QCP Capital. “BTC risk reversals have gone positive (calls more expensive than puts), and there has been a renewed demand for BTC Sep expiring $75,000 and $100,000 calls.”

Other factors in favor of a BTC rally include the US election cycle and a weaker dollar index, which has fallen by 1.2% since the last FOMC meeting. For Ledn CIO John Glover, BTC’s price could climb as high as $92,000, but first investors should brace for a pullback as low as $52K.

DISCLAIMER: None Of The Information You Read On ZyCrypto Should Be Regarded As Investment Advice. Cryptocurrencies Are Highly Volatile, Conduct Your Own Research Before Making Any Investment Decisions.

The original article written by Aliyu Pokima and posted on ZyCrypto.com.

Article reposted on Markethive by Jeffrey Sloe

** Loans, secure funding for business projects in the USA and around the world. Learn more about USA & International Financing at Commercial Funding International. **

Tim Moseley

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SEC’s Gary Gensler Reiterates Belief That Vast Majority Of Cryptocurrencies Are Securities

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SEC’s Gary Gensler Reiterates Belief That Vast Majority Of Cryptocurrencies Are Securities

By Brenda Ngari – May 7, 2024

Gary Gensler, the Chairman of the U.S. Securities and Exchange Commission, has doubled down on his view that most cryptocurrencies qualify as securities. Gensler added that he doesn’t believe investors have the appropriate disclosures for investing in such assets.

Gensler Strident In His View That Most Cryptos Are Securities

The crypto industry crackdown is continuing swiftly, with popular trading platform Robinhood Crypto joining the growing list of firms issued with a Wells Notice action by the SEC this week.

During an appearance on CNBC’s Squawk Box on Tuesday, Gensler would not divulge any details on the Robinhood case, but he indicated that his agency was going after crypto because it boasts an “outsized” share of financial scams and fraud.

“Crypto is a small piece of our overall markets,” the SEC boss said. “But it’s an outsized piece of the scams and frauds and problems in our markets — because without prejudging any one token, much of this field is noncompliant with the protections of our securities laws.”

He reiterated his stance that most cryptocurrencies fit the definition of securities.

“Many of these tokens are securities under the law of the land (as interpreted by the U.S. Supreme Court). So, we follow that law,” Gensler emphasized.

According to the SEC chair, investors are not receiving the required disclosures about those assets.

So, Is Ethereum A Potential Security Or Commodity?

Ether — the industry’s second-largest cryptocurrency by market capitalization — has long been debated regarding its classification as a potential security despite the U.S. Commodity Futures Trading Commission (CFTC) constantly classifying it as a commodity.

Gensler first hinted at the potential ether (ETH) designation as a security in September 2022. The SEC boss suggested proof-of-stake (PoS) tokens could be securities, following the Ethereum blockchain’s monumental transition to that security model from proof-of-work (PoW).

When asked about the SEC’s position during the CNBC interview, Gensler refused to answer definitively how ether should be classified.

“All I would say is, to me, the fundamental question is how do we ensure that the American investor is protected?” Gensler opined. “Right now, they’re not getting the required or needed disclosures, and the intermediaries in the center of this rather centralized market generally are conflicted and doing things we would never allow the New York Stock Exchange to do.”

Notably, the SEC is yet to publicly declare ether a security. However, recent reports revealed that the Gensler-helmed commission has considered the cryptocurrency a security for over a year.

The SEC’s position on Ethereum comes at a crucial time, as the top regulator mulls whether to approve or deny several applications for spot ETH ETFs. The SEC has repeatedly deferred its decision on proposals from prominent asset managers, including BlackRock, Fidelity, and Franklin Templeton.

With an important deadline expected in late May, ETF analysts remain pessimistic about the odds of approval.

The original article written by Brenda Ngari and posted on ZyCrypto.com.

Article reposted on Markethive by Jeffrey Sloe

** Get secure funding for business projects in the USA and around the world. Learn more about USA & International Financing at Commercial Funding International. **

Tim Moseley

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Historic Milestone: The Bitcoin Network Has Now Processed Over 1 Billion Transactions

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Historic Milestone: The Bitcoin Network Has Now Processed Over 1 Billion Transactions

By Brenda Ngari – May 6, 2024

The Bitcoin network recently reached a huge milestone with its one billionth recorded transaction.

According to Clark Moody’s Bitcoin dashboard, transaction 1,000,000,000 was processed in block 842,241 at 9:34 pm UTC on May 5. This comes 15 years, four months, and four days after the mythical creator of Bitcoin (BTC), Satoshi Nakamoto, mined the Genesis block on Jan. 3, 2009.

The very first BTC transaction happened on Jan. 12, 2009, between Satoshi and the late American software developer and early Bitcoin pioneer Hal Finney. Satoshi sent Finney 10 coins as a test. Moments later, Finney had an email correspondence with the pseudonymous Bitcoin inventor to report some bugs.

Finney later walked away from Bitcoin and was surprised to find out the flagship crypto indeed had monetary value after he came back in late 2010. The BTC network reached one million transactions in July 2011. At the time, the OG crypto was trading for approximately $15.

In its 5,603 days of existence, the Bitcoin network has processed roughly 178,475 daily transactions. However, this figure doesn’t include transactions conducted on the Layer-2 Lightning Network.

Data from the Bitcoin-focused exchange River reveals that the Lightning Network processed at least 6.5 million transactions in August 2023, indicating that hundreds of millions of transactions have been done on Lightning since it went live in early 2018.

Ethereum Hit The $1 Billion Transaction Milestone First

Bitcoin’s daily transactions surged during the once-every-four-years rewards halving event on April 20. A historic high of 925,000 transactions was processed on April 23. Most of this demand stemmed from the fast uptake of Casey Rodarmor’s new Runes protocol. However, the initial fee bonanza has waned, with BTC’s daily transaction count falling to 660,260 as of May 4.

Despite being the oldest, Bitcoin is not the first blockchain network to process billion-dollar transactions. Ethereum, the second-largest crypto by market capitalization, has processed more than two billion transactions since it debuted in July 2015, as per data pulled from Etherscan.

At press time, Bitcoin was at $63,489, down a paltry 0.6% on the day.

DISCLAIMER The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.

The original article written by Brenda Ngari and posted on Zycrypto.com.

Article reposted on Markethive by Jeffrey Sloe

** Loans, secure funding for business projects in the USA and around the world. Learn more about USA & International Financing at Commercial Funding International. **

Tim Moseley

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Markethive Activity Report 5052024

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Markethive Activity Report 5/05/2024

In this weekly report, we delve into the blockchain activity of Hivecoin within the Solana blockchain and have an insight into how Hivecoin's transactional activities have been for the week. As members invested in the growth and performance of Hivecoin, understanding transaction trends provides valuable insights into user engagement, network usage, and overall ecosystem health. 

At the heart of our analysis lies the recognition of transactions as the lifeblood of any blockchain network. Each transaction represents a node of activity, a testament to user engagement, and a contributor to the overall health of Hivecoin within the Solana ecosystem. By dissecting transaction trends, we unravel a tapestry of behaviors, patterns, and preferences that shape the trajectory of our digital asset.

Our primary objective in dissecting these transactional patterns is twofold: first, to glean actionable insights that empower strategic decision-making, and second, to optimize Hivecoin's strategic positioning within the vibrant landscape of decentralized finance (DeFi). Armed with a deeper understanding of user behavior and network dynamics, we can navigate the ever-evolving DeFi terrain with agility and foresight, ensuring Hivecoin remains at the forefront of innovation and adoption.

Hivecoin Blockchain Activity

  • The Hivecoin faucet offers a daily claim of Hivecoin, making it accessible to all users within the Markethive community and beyond.
  • The total faucet claims of Hivecoin as of this writing stand at 3,664, indicating a growing community of users actively engaging with the token.
  • Daily transaction counts on the Solana blockchain were recorded for the week spanning from April 28 to May 4th, providing a granular view of transaction activity over the designated period.
  • The total number of transactions processed amounted to 144, reflecting sustained engagement with the Hivecoin network. Analyzing daily transaction volume revealed fluctuations, with peak activity observed on April 28th and May 3rd, recording 31 and 30 transactions each, and relatively lower activity on April 30th, with 14 transactions. 
  • Hivecoin's blockchain activity reflects a vibrant and engaged community, and by actively sending coins back and forth to each other, members can further stimulate the blockchain activity and strengthen the token's presence within the Solana ecosystem.

 Community Engagement Report

  • This week, the community has shown remarkable dedication to enhancing the presence of Markethive on various platforms. 
  • A concerted effort was made to increase activity on the Markethive Bitcointalk page, aiming to foster vibrant discussions and interactions.
  • The community also turned its attention to the Markethive Trustpilot page. Numerous community members submitted reviews, sharing their personal experiences and feedback about Markethive's services.
  • These initiatives are part of a broader strategy to elevate Markethive's visibility and user engagement within the digital space.
  • The continuous active participation is expected to not only boost Markethive's online presence but also to attract new users and stakeholders to the platform.

We encourage the frequent exchange of Hivecoin within and outside the Markethive community because it serves a tremendous purpose. Firstly, it cultivates a vibrant and active blockchain environment, enhancing its resilience and dynamism. Secondly, it showcases the tangible utility and demand for the token among community members. 

Such heightened engagement not only amplifies the token's intrinsic value but also plays a pivotal role in advancing Markethive's mission. By bolstering blockchain activity, it bolsters Markethive's endeavors to secure listings for Hivecoin on prominent exchanges. This, in turn, extends the reach and functionality of Hivecoin beyond the confines of the Markethive platform.

In essence, this cycle of active participation fuels a positive feedback loop, propelling both the token and the platform towards greater recognition and utility within the broader cryptocurrency landscape. 

Join the Markethive Community Group and be part of those who shape the future of Hivecoin within the Markethive ecosystem!

God Bless Markethive!

 

About: Prince Ibenne. (Nigeria) Prince is passionate about helping people understand the crypto-verse through his easily digestible articles. He is an enthusiastic supporter of blockchain technology and cryptocurrency. Find me at my Markethive Profile Page | My Twitter Account | and my LinkedIn Profile.

 

 

 

 

Tim Moseley