The total network fees paid for the minting of Bitcoin Ordinals increased significantly to 1,414 BTC or $38.2 million on May 20, which is a 700% increase from April 20 and an 831% increase from April.
Altcoins experienced an upward trend while Bitcoin and Ether remained stable. Coin Metrics reported that Litecoin increased by 5.67%, XRP by 6%, and The Sandbox token by 4%. Additionally, the price of the Axie Infinity token surged by approximately 8%.
Today, Cormint Data Systems, Inc. (“Cormint”), a Bitcoin miner striving to mine low-cost Bitcoin on a large enough scale to support a reliable, renewable power grid, proudly declared that it has achieved its Series A equity funding round goal of $30 million.
Earlier this week, the number of transactions made on Dogecoin briefly exceeded those made on Litecoin and Bitcoin.
Bitcoin and Ethereum both saw gains in Friday’s cryptocurrency market, with BTC increasing by 2.21% to reach $29,507 and ETH surging past $1,900. However, BTC’s 24-hour trade volume dipped by 35%, to around $22.95 billion. The bullish trading is attributed to the upcoming FOMC meeting.
Litecoin’s daily transactions have reached all-time highs due to congestion and high transaction fees on the Bitcoin network. Users are looking for alternative platforms that offer faster and cheaper transactions, leading many to turn to Litecoin. This surge in activity reflects the growing demand for alternative digital assets.
Due to “congestion” on its network, Binance, the largest cryptocurrency exchange in the world by trading volume, has temporarily paused Bitcoin withdrawals, the business announced in a tweet on Sunday.
Technical indications, as well as any potential catalysts or news events that can affect the price of BTC, should be closely monitored by market participants.
JPMorgan has recently acquired First Republic Bank, a San Francisco-based private wealth management and banking firm. This acquisition is part of JPMorgan’s plan to expand its U.S. wealth management and consumer banking operations and comes at a time when Bitcoin prices have fallen below $28,000.
Nearly XNUMX Bitcoin Wallets, Allegedly Under the Control of Russian Security Agencies, are Made Public by an Apparent Hacker.
Bitcoin in Russia: The business Chainalysis, which has already connected some of the wallets to Russia, supports the assertions.
Concerns are raised concerning the security of the Putin regime’s cryptocurrency operations in 2023 as a result of the hack.
