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  • Aug 02, 2024

Most Bitcoin Layer-2 Networks Won’t Survive: Galaxy Research

Bitcoin layer-2 scaling networks—particularly “rollups”—have been the talk of the town in crypto developer circles as a new means to keep Bitcoin payments cheap, fast, and decentralized. But despite their vaunted promise, data and analysis from Galaxy Research suggest the vast majority of Bitcoin rollups will be unsustainable. “Rollups on Bitcoin that post data to the base layer will face a significant problem: the cost to post data,” wrote Galaxy analyst Gabe Parker in a report published Friday...

  • Aug 02, 2024

Bitcoin Could Drop Below $50,000 If US Economy Sours: 10x Research

Recent declines in the price of Bitcoin could merely be the beginning of a more dramatic fall, a crypto research firm has predicted, attributing this potential downturn to a looming economic storm and a decoupling of the cryptocurrency from the broader stock market. The analysis, authored by Markus Thielen of 10x Research, noted that there were some recent positive signs when it came to the resilience of the crypto market, from institutional interest in spot Bitcoin ETFs to the price of BTC with...

  • Aug 02, 2024

As Trump Stumps Against CBDC, Fed Chair Says 'Nothing New' With Digital Dollar

On the campaign trail, former United States President Donald Trump says crypto holders should be concerned about the Orwellian implications of a digital dollar. But behind the scenes, the Federal Reserve is not moving forward on developing a central bank digital currency (CBDC), according to Fed Chair Jerome Powell. “In terms of a CBDC, there's really nothing new going on,” Powell said during Wednesday’s Federal Open Markets Committee meeting. “There's not much going on at all.” The creation of...

  • Aug 02, 2024

This Week in Coins: Bitcoin Starts Week Strong But Drops Hard Amid Wall Street Panic

It didn't take long for things to go pear-shaped. Bitcoin was closing in on its all-time high again on Monday after briefly touching $70,000 per coin on America's biggest crypto exchange, Coinbase. But by Friday, it had dipped so, so low: Bitcoin has over the week dropped by more than 9% to $61,358—dipping as low as $60,704—according to CoinGecko. The reason was in part down to a weak jobs report that sparked fears that the U.S. economy could be sliding into a recession, causing a Wall Street se...

  • Aug 02, 2024

Object Sighted Over City in Brazil Riles Up UFO Fans

A bizarre aerial phenomenon captured on video over Curitiba, Brazil is the latest to capture the attention of “ufologists,” people who track sightings of unidentified flying objects as evidence of alien visitors. A pair of videos uploaded to YouTube shows a triangular object hovering in the sky above the southern Brazilian city from different angles. The first, shot by Zona Desconhecida, has garnered over 31,000 views since it was uploaded on July 21. As the camera zooms in, the object appears t...

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