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Bnkrupt Bitcoin minr Rhodium Entrpriss hs rcivd court pprovl for lon tht cn b tkn in ithr Bitcoin (BTC) or Unitd Stts dollrs (USD). This dcision cm ftr th compny fild for bnkruptcy undr Chptr 11 on August 24 in th US Bnkruptcy Court for th Southrn District of Txs. Rhodium cn borrow $30 […]
This weeks Crypto Biz explores Pavel Durovs arrest and consequences for Telegram, Nvidias earnings results, OpenSeas Wells notice, Rhodiums bankruptcy, BlackRocks new crypto ETF and SxT Labs fundraising.
Rhodiums debts range between $50 million and $100 million, while its total assets are estimated between $100 million and $500 million.
The partners at the Texas facility had troubled relations almost from their start in 2020.
Ethereum layer-2 network Scroll has delayed its chain finalization due to a potentially exploitable bug within its ecosystem. On July 19, Rho Markets, a lending protocol on the blockchain, detected unusual activity and suspended operations to investigate. Blockchain security firm Cyvers Alert reported a hack of approximately $7.6 million on Rho Markets’ USDC and USDT […]
The post Ethereum Layer 2 Scroll halts chain finalization after Rho Markets suffers $7.6M breach appeared first on CryptoSlate.
Rho Markets has already paused its platform in response to the security breach.
On-chain data shows Bitcoin is slowly moving from the old holders to new investors, a sign that could be positive for the market. Bitcoin RHODL Ratio Has Been Climbing Up In Recent Days According to data from the on-chain analytics firm Glassnode, this kind of trend is usually seen in the middle of cycle transitions. The “Realized HODL (RHODL) ratio” is an indicator that tells us the ratio between the supplies held by the 1-week-old holders and the 1 to 2 years old investors. To be more specific, this indicator doesn’t simply measure the amount of market cap held by these groups, but rather the “realized cap.” This capitalization method calculates the value of the supply by assuming that each coin is worth not the current spot price, but the price at which it was last moved on the blockchain. Here, the 1-week old investors represent the youngest of the BTC participants, who have just bought their coins. Thus, the realized cap held by them provides hints about the wealth owned by the newcomers. The 1-2 years old BTC investors, on the other hand, are a segment of the long-term holders, meaning that they are the more experienced players in the market. Since the RHODL ratio compares the supplies of these young and old holders (though, only some segments of them), it can deliver insight into how these supplies are changing relative to each other. Now, here is a chart that shows the trend in the Bitcoin RHODL ratio over the last few years: Looks like the value of the metric seems to have been going up in recent days | Source: Glassnode on Twitter As you can see in the above graph, Glassnode has marked the wider trends that the indicator has followed during the previous cycle as well as in the current Bitcoin cycle. It seems like during the bear markets in both the previous and the current cycles, the indicator had been observing a constant downtrend. This means that the young investors had been leaving the market while the long-term holders had been accumulating. Related Reading: Bitcoin Miners Receive Inflows Of 7,000 BTC, What Does It Mean? This trend makes sense, as the young investors would constantly get into losses during a bear market downtrend, so a lot of them would quickly sell their holdings. Following the bear market bottom formation in the last cycle, the Bitcoin RHODL ratio stopped its decline and soon reversed the trend when some fresh bullish momentum came in the form of the April 2019 rally. A similar trend has also been observed during the current cycle, implying that the bottom after the FTX crash back in November 2022 may have been the bottom after all. Just like during the April 2019 rally, the indicator has been moving up during the current rally. This suggests that new participants are once again interested in accumulating the cryptocurrency. Related Reading: XRP Bullish Signal: Address Activity Spikes To Historical Levels Such a signal has historically been constructive for Bitcoin, with this kind of market shift from the long-term holders towards new hands often leading to full-blown bull markets. BTC Price At the time of writing, Bitcoin is trading around $27,000, up 1% in the last week. BTC has gone down during the past day | Source: BTCUSD on TradingView Featured image from iStock.com, charts from TradingView.com, Glassnode.com
Many firms with generative AI models are being sued for copyright infringement, and the Supreme Court may have just ruined their primary legal defense.
Freeport has received SEC approval to launch its crowd-ownership blockchain platform for a four-piece collection of Warhol prints, with each piece consisting of 10,000 shares and a minimum purchase of 10 shares per individual. (Read More)
KeychainX AG, a Swiss-based crypto recovery company, has been assisting people in accessing their lost crypto since 2017. The company also holds patents around the world for a keyless crypto wallet that utilizes biometrics, such as fingerprints or even DNA. Robert Rhodin is the CEO of KeychainX. He recently joined the Bitcoin.com News Podcast to [...]
The post Developing a Keyless Crypto Wallet Utilizing Biometrics KeychainX CEO Robert Rhodin appeared first on Crypto Breaking News.
The Cosmos (ATOM/USD) price broke down from a rising channel this week as cryptocurrencies reacted to the regulatory crackdown on stablecoins, particularly orders against Paxos to cease issuing the Binance USD (BUSD) stablecoin. ATOM price has not spiked as much as the leading cryptocurrencies like Bitcoin and Ethereum, which on Wednesday, hit levels above $23,000 ...
<p>The post Cosmos price outlook: Is ATOM a buy ahead of today’s Rho upgrade? | Invezz first appeared on CCNC.</p>
Bitcoin miner Rhodium Enterprises is planning to list on Nasdaq under the ticker “RHDM” through a reverse merger with business consulting firm SilverSun Technologies Inc., Bloomberg reported on Sept 30. (Read More)
In Rhode Island’s House of Representatives, legislation was introduced that would reward a home builder with a “green coin” cryptocurrency for lowering the project’s carbon impact. According to the Green Housing Public-Private Partnership Act, the builders are required to submit the housing project’s utility costs and carbon emissions. It should be reported annually to the […]
The floor price of Lana Rhoades NFT project has dropped 96.1% while a 24/7 Solana NFT vending machine was officially launched in New York this week.
Learning module brings digital financial literacy education and essential fintech entrepreneurialism to the U.S. and South Africa.
New DAZN MOMENTS marketplace will let fans collect memorable moments across various sports starting Spring 2022 in Japan.
We’ve seen far too many Bitcoin corrections this year for comfort. However, “history and probability” suggest that this latest 40% correction isn’t signaling a bear market… *Check out the CryptosRus Bitcoin chart! Covered: How Many Bitcoin Corrections Equal A Bull Market? The RHODL Ratio Corrections Are Nothing New How Many Bitcoin Corrections Equal A Bull […]
The post Bitcoin Corrections Are Nothing New, Says Tech Analyst appeared first on CryptosRus.
Starting with Ghost Recon Breakpoint, Ubisoft will drop NFTs to PC players on the Tezos blockchain on Thursday.
By bringing fine art to the metaverse of crypto, the project aims to extract the essence of NFTs.
GameStop is reportedly exploring the possibility of investing in the cryptocurrency Bitcoin. The popular video game retailer is examining ways to integrate digital assets into its business model as it adapts to the changing landscape of finance and technology. With the rise of cryptocurrencies like Bitcoin, companies across various industries are realizing the potential benefits [...]
The post GameStop Soars 18% After-Hours on Bitcoin Investment Rumors appeared first on Crypto Breaking News.
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