BT Daily News: Avec LE Prix DU Bitcoin QUI Grimpe, LE Minage Redevient Rentable
1. AVEC LE PRIX DU BITCOIN QUI GRIMPE, LE MINAGE REDEVIENT RENTABLEMining farms, many of which had been deactivated in recent months, are returning to service. We see it especially among bitcoin investors, and those who mine it with their powerful "racks" of servers, these whole cabinets of stacked processors. They had been unplugged in the face of the scissor effect falling bitcoin price and sharply rising energy costs, where mining bitcoin was no longer becoming profitable.
But now, it is again the case beyond 20,000 dollars, a price that bitcoin has exceeded for almost 2 weeks . Thus, if we cross a certain break-even point again, or reopen. Many miners had $20,000 as a critical threshold, so it becomes interesting to mine on a larger scale, with an energy bill that is falling a little again.
As a reminder, the bitcoin hash rate is an indicator of mining speed. And right now, bitcoin mining has become profitable again after months of realized losses, according to the specialized site Glassnode. Whereas following the collapse of FTX, miners were losing over $4,000 per bitcoin mined. As a result, today the actors are in good shape. On the Nasdaq, Valkyrie's Bitcoin Miners ETF, a true basket of bitcoin miner stocks, saw its price rise more than 70% month-on-month. Bitcoin Bitfarms is up 140% this month and Marathon Digital Holdings is up +130%.
Following the fall of FTX, we spoke in particular of the giant Core scientific which had to be placed under chapter 11 of the American bankruptcy law , but between the support of Blackrock and a massive liquidation of the short positions around 20,000 dollars. bitcoin, it gives a good technical floor. It will now be more difficult for bitcoin to go back below, which now gives a minimum of visibility and industrial prospects for those who mine it.
2. Developers Keep the Candle Burning During Chilly Crypto WinterAlthough the ongoing crypto winter has started to feel like an ice age, new data from Web3 developer platform Alchemy suggests that builders are trudging ahead and continuing to deploy on-chain.
In its Web3 Development Report looking at the fourth quarter of 2022, Alchemy wrote that this past year saw token trading drop but development on Ethereum grow. Non-fungible token (NFT) trading volume was down by 94% year over year, the report said, while the total value locked (TVL) in decentralized finance (DeFi) protocols fell by 77%. Major cryptocurrencies, including BTC, ETH and SOL, dropped by 65%, 68% and 94% respectively.
And while the fallout from FTX’s collapse in November led to significant losses that rippled across industries, morale amongst Web3 developers remains high. The number of smart contracts deployed on the Ethereum mainnet increased by 453%, the report said, following the Ethereum merge at the end of the third quarter. And in a survey of 985 developers conducted by Alchemy, 94.2% reported feeling optimistic about the future of Web3.
“Web3’s hallmark highs and lows were on full display in Q4,” Alchemy wrote in a press release accompanying the report. “On one hand, developers leaned into trustlessness – deploying smart contracts at rates that resembled the peaks of 2021. On the other, the implosion of major crypto exchanges rocked the foundations of consumer trust.”
Jason Shah, head of growth at Alchemy, told CoinDesk that while the fall of FTX contributed to the sharp decline in some figures last quarter, positive developer sentiment highlights a growing separation between cryptocurrencies and decentralized tools.
“It’s the tale of two cryptos, with centralized exchanges and financial fraud alongside builders and decentralized technological architecture,” said Shah. “And these are very different worlds, frankly, that are becoming increasingly decoupled.”
Shah also noted that among the smart contracts deployed this past quarter, there was 58% increase in the amount of social decentralized applications (dapps) built in the fourth quarter.
3. Ten Global Influential Figures in The Crypto SphereFor the majority, cryptocurrency technology has proven challenging to understand. Nevertheless, there is a huge fortune behind cryptocurrencies; global figures in the crypto sphere partake in this credit. The crypto sphere seemed enormous when it was just getting started, and nobody knew anything about it. The global figures—developers, promoters, influencers, traders, and even founders—enter the picture at this point. Each global figure made an effort, in a different way, to express their ideas about crypto to help the general public comprehend the idea behind the technology. Here is a rundown of the top ten global figures in the crypto sphere.
- Vitalik Buterin- Vitalik Buterin is a writer and reporter for Russia and Canada, and has been in the community of Bitcoin since 2011. Understanding the insights of Bitcoin, he fortified himself by forming a new coin that is the pro version of the Bitcoin blockchain. Then in late 2014, Buterin announced at the Bitcoin conference held in Miami and named it Ethereum.
- Tim Draper- Tim Draper is a well-known personality in the finance world. He owns the credit of providing the backing for cryptocurrency in general. His contribution to the crypto sphere is tremendous he has shown his interest in the crypto through investing in many crypto projects.
- Brian Armstrong- Brian Armstrong made his identity in crypto by forming the CoinBase in 2012. Coinbase is a secure digital wallet for trading in crypto. This digital wallet holds popular coins like Solana, Bitcoin, and Ethereum.
- Changpeng Zhao- Changpeng Zhao a CEO of the famous coin Binance. Binance is accredited to be the world’s largest crypto change. Being an enthusiast has created affluence in crypto holding perhaps most of his wealth is generated through crypto holding.
- Naval Ravikant- An angel investor and consecutive investor in start-ups, Naval Ravikant holds the credit for contributing the society in assorted ways.
- Michael Saylor- Michael Saylor is a founder of a software firm and has turned into a major investor in Bitcoin.
- Jack Dorsey- An entrepreneur, executive, and Bitcoin advocate Jack Dorsey got inspired by Bitcoin and co-founded bitcoin trading.
- Charlie Lee- A founder of Litecoin, Charlie Lee is a pioneer in the crypto industry. Charlie’s Litecoin has remained top of the cryptocurrency world.
- Chris Dixon- Chris Dixon a partner at Andreessen Horowitz, holds the largest investment fund in the cryptocurrency realm.
- Elizabeth Stark- One of the earliest followers of cryptocurrency is Elizabeth Stark. She is the CEO and co-founder of Lighting labs. Her business transactions mostly involve BTC trading.