The crypto community is currently in a state of constant speculation as renowned analyst Willy Woo sets forth a prediction suggesting Bitcoin could potentially scale up to a price of $310,000 under a specific set of circumstances.

Woos hypothesis, which has sparked a flurry of discussions in the crypto community, is hinged on an assumption that notable institutional players might decide to designate a fraction of their assets under management (AUM) to the largest digital currency, Bitcoin.

The Theoretical Path To $310,000 Bitcoin

Woo breaks down his perspective, detailing that a significant augmentation in Bitcoins market cap, coupled with a corresponding increase in its realized cap, could set the stage for this quantum leap in price. However, he underscores that the timing of these potential institutional inflows would significantly determine the trajectory of Bitcoins price.

Woo noted:

It [BTC potential to $310,000] would really depend on whether they [institutional players] deploy in a bearish or bullish phase of the market but the range would be between $128,000 $398,000. Right now its $310,000.

According to Woo, if such investment decisions take place during a bearish market phase, Bitcoin may dip to around $128,000. On the flip side, a bullish market condition could propel BTC to $400,000.

Woos projections, albeit well-reasoned, were met with a fair share of skepticism, particularly concerning the assumption of institutional asset reallocation towards Bitcoin. Reacting to the doubts, Woo emphasized the hypothetical nature of his argument, stressing that the ultimate control of asset allocation rests with the investors and not the institutions.

Investor Decisions VS Wealth Manager Discretion

Splitting wealth management into two distinct categories investor-driven decisions and wealth manager discretion Woo explained that any large-scale movement toward Bitcoin would likely necessitate the approval of the individual investors represented by these institutions.

Tweeting about his analysis, Woo stated that If these institutions allocated 5% of AUM into BTC, his calculations project above $300,000 per coin and could vary significantly to below it. However, currently, the estimate stands at $310,000, based on a methodology measuring market cap increase versus realized cap increase.

UK Parliament Building and Big Ben, London, England (Ugur Akdemir/Unsplash)

On-chain data shows that altcoin whales have been highly active recently, something that could lead to volatility in the prices of these assets.

Altcoin Whales Have Displayed One Of The Most Active Days Of 2023

According to data from the on-chain analytics firm Santiment, several altcoins have seen transfers worth more than $10 million in value in a single day. Generally, besides centralized platforms like exchanges, only whale investors are capable of moving such a large amount of tokens with individual transactions.

Whales are an important part of any cryptocurrencys ecosystem, as the sheer number of coins that they hold means that they can sometimes have the power to influence the market.

Related Reading: Stablecoin Cap Shows Early Sign Of Reversal, Why This Could Benefit Bitcoin

Naturally, only a couple of whales making a few sizeable, but still relatively small transfers likely wont actually produce visible fluctuations on the market, but a few massive transfers may do so.

Thus, whenever the whales are highly active (that is, a number of them are making multiple large transactions), the price of the asset that they are trading can become more likely to display volatility.

Now, here is a chart from Santiment that shows how the scale of whale activity has recently looked like for the various altcoins in the sector:

As highlighted in the above graph, the whales of several altcoins moved around a large volume of tokens yesterday. Many of these alts saw major transactions crossing the $10 million mark, making the day the third most active of the year.

These large transactions have come while these alts have registered some amount of fluctuations during the past week. It would appear that this market activity has raised the interest of the whales in trading these assets.

As mentioned before, whales making such large multiple transactions can result in higher volatility for the prices of these cryptocurrencies. So far, however, since these large transfers have taken place, some of these coins have noticed some volatile price action, while the others have continued to move sideways.

From the chart, its visible that...

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Canadian flag (sebastiaan stam/Unsplash)

Bitcoin ETF requests, miners' sell pressure, and regulatory hurdles create uncertainty for the $31,000 BTC price resistance.

The motion to dismiss argues that even if all the allegations in the lawsuit are true, the plaintiff does not have a valid legal claim.

As the crypto world continues to evolve with increased volatility, unique patterns emerge, attracting the interest of investors and analysts alike. One such way has been observed in the recent trading activity of Compound (COMP), the governance token tied to the Compound protocol. The asset experienced a significant surge, registering a nearly 10% growth within the past day.

Over the last 7 days, COMP has been in an uptrend, and the 10% single-day rise forms part of a larger appreciation pattern. This escalation is noteworthy as the tokens price soared over 50% within just a week.

Whale Activity Fuels Price Momentum

Blockchain analytics firm Lookonchain earlier today shed some light on the reason behind the recent COMP price surge. The firm disclosed on Twitter that a possible whale or institutional investor appears to have made substantial COMP transactions.

According to Lookonchain, Wallet 0x0D5 transferred 3 million USDT to Binance on June 26 and extracted 50,000 COMP, equating to around $2.26 million, 16 hours ago. The same entity reportedly withdrew an additional 120,000 COMP, valued at approximately $5.53 million from Binance shortly after.

The whale/institution withdrew another 120K $COMP ($5.53M) from #Binance just now.

So the rise in the price of $COMP may have something to do with this whale/institution.https://t.co/6LfmjMxaRZ pic.twitter.com/Deh4v260qt

Lookonchain (@lookonchain) June 29, 2023

Such considerable transfers often signify bullish behavior and could contribute to the increase in COMPs price, given their potential influence on the tokens supply and demand dynamics.

Compound (COMP) Latest Price Action

COMP token price has increased in the past few days, with the governance token breaking multiple resistance levels. COMP is currently trading above $46, up 51.7% over the past week. The token currently has a market capitalization of $32...

(Steve Johnson/Unsplash)

Exchange cryptocurrency securely on different blockchains using atomic swaps. Its either a swap or a no-swap, ensuring crypto funds security.

Volatility among some fiat currencies has made stablecoins like USDC a more attractive option for payroll, according to HR executives.

Coinbase CEO Brian Armstrong (Coinbase)

Slovakian lawmakers voted on crypto tax-cutting (Leonhard Niederwimmer/Pixabay

Data shows the stablecoin market cap has returned toward equilibrium and may be gearing up for a reversal. Heres how Bitcoin could benefit from this.

Aggregate Stablecoin Market Cap Change Has Returned To Equilibrium

According to data from the on-chain analytics firm Glassnode, the aggregate stablecoin market cap had previously been in a decline for around 14 months. The aggregate stablecoin market cap here refers to the combined market cap (that is, the total valuation in USD) of the top five stables in the sector.

More specifically, the relevant stablecoins in the current discussion are Tether (USDT), USD Coin (USDC), Binance USD (BUSD), Dai (DAI), and TrueUSD (TUSD). The complete supply of these stables is considered here, regardless of how it is distributed among the different blockchains.

Related Reading: Bitcoin Rally Stalls As Short-Term Holder Exchange Inflows Intensify

Historically, the combined market cap of these assets has held important information for the sector, as it can provide hints about whether capital is flowing into or out of the market right now.

To track the flow of capital, Glassnode has looked at the 30-day percentage change in the aggregate market cap of these fiat-tied tokens.

Here is a chart that shows the trend in this indicator over the past few years:

Naturally, when the value of this metric is positive, it means that the top 5 stablecoins have registered net inflows during the last thirty days. On the other hand, negative values imply outflows have taken place in the past month.

From the graph, its visible that the 30-day percentage change in the aggregate stablecoin market cap was quite positive during the 2021 bull run. This would imply that these assets were constantly seeing an expansion in their supplies in this period.

Usually, investors make use of stables whenever they want to escape the volatility associated with other cryptocurrencies. Such holders keep their capital in the form of these assets until they want to buy back into a volatile coin like Bitcoin or withdraw into fiat. Obviously, in the former scenario, the purchasing can have a positive effect on the price o...

This is an opinion editorial by Tim Niemeyer, co-host of the Lincolnland Bitcoin Meetup and a member of the Chief Lightning Officers.

On January 4, 2023 (block 770,402, for those of you keeping score at home), the Chief Lightning Officers (CLO) was created.

What started out as a small group of voluntary plebs has blossomed into roughly 50 Bitcoiners engaging in bi-weekly calls with the intent to arm each other with all of the necessary tools and skills to further Lightning adoption at the local level. The plebs that make up the group have wide-ranging skill sets across multiple industries, such as education, finance and information technology, in addition to holding blue-collar jobs. This grassroots movement has lofty goals. As early member Mark Maraia stated in an interview for this article, CLOs have embarked on a mission of helping Lightning rails rule the Earth.

Diagnosing Before Prescribing

While Maraia and many others in the group have sales experience, the goal is not about closing the deal: Self-appointed members of CLO, who call themselves chief Lightning officers, meet local, prospective Lightning point-of-sale (PoS) merchants with a fact-finding mindset: they build relationships with these local merchants and uncover their pain points. While its easy for Bitcoiners to say Bitcoin fixes this, CLOs attempt to, as Maraia puts it, diagnose before you prescribe.

The biggest frictions discussed by the group have been high fees, delayed settlements, the security of in-house funds, friction during international business transactions and overreaching government regulations. But, as anyone who has studied the Lightning Network enough has realized, it has boundless potential to reduce fees, lightning quick final settlement, increased security and privacy, not to mention its ability to be borderless and permissionless.

The goal of the first few meetings of CLO was to determine which industries were ripe for Lightning adoption. Of the early suggestions were cannabis dispensaries, coffee shops (oh, the irony paying for coffee with bitcoin), food trucks and non-chain restaurants, local sports teams and craft brewers, to name a few. During each meeting, the group brainstorms other industries that would benefit from utilizing the Lightning payments network (LPN). The group agrees that local Bitcoin meetups should all be working toward having merchants at their meetup spot accept Lightning payments. Some already are, like Boulder Bitcoin, which created an LNURL/QR code that funds meetup event items such as drinks and pizza. Lincolnland Bitcoin is in the process of obtaining the Worlds Smallest Bitcoin (Lightning) Hobby ATM so that local pl...

(Gerd Altmann/Pixabay)

The report, which consists of 16 separate proposals, highlights the advantages and potential of blockchain technology in various sectors.

Ethereum (ETH), the second largest cryptocurrency by market cap, experienced a price drop of over 3% within the last 24 hours. The reason is presumably a significant sell-off carried out by a prominent whale. The whale deposited 25,000 ETH (worth around $47.24 million) on Binance, only to withdraw a significant amount of USDT shortly afterwards.

As the on-chain data provider Lookonchain reports, the whale has probably already sold a part of his ETH. According to the on-chain data, the whale withdrew 16 million in USDT. The drop in ETH price [a few hours] ago was most likely due to the sell-off of this whale, the analysts note, further explaining that the whale still owns around 8,000 ETH ($14.7 million) unsold.

Nevertheless, ETH bulls continue to show strength. A look at the 1-hour chart of Ethereum reveals that the price has formed a bull flag. In technical analysis, a flag is a short-term consolidation pattern that occurs after a strong price move and indicates a temporary break in the trend.

A bullish flag forms during an uptrend with the flagpole pointing upwards, followed by a consolidation phase before a possible continuation of the upward movement. For now, the pattern has held, ETH has bounced up from the 4H 200 EMA at $1,825. In this respect, the bulls remain in control (despite the whale) for the time being.

Basically, two scenarios are conceivable. If the aforementioned support levels are broken to the downside, especially the underside of the flag, Ethereum could face a further price decline towards $1,750. Conversely, a breakout from the flag pattern to the upside (around $1,900) could trigger a price rise towards $2,000.

However, according to analyst Ali Martinez, thats where the price will hit Ethereums key supply wall, which is in the $2,000 t...

Bridge (Alex Azabache/Unsplash)

A parliamentary vote held by lawmakers in Slovakia approved an amendment that will reduce the taxation of cryptocurrencies, which is currently on a sliding scale.

Dogecoin (DOGE) is currently facing a critical juncture in its price movement. The DOGE price is teetering above the last horizontal support level before a potential substantial decline. In order to avoid a steep fall, it is imperative for Dogecoin to muster a decisive bounce at its current level. 

However, this task may prove to be challenging as a persistent downtrend, marked by a descending trendline, has been undermining the efforts of buyers to establish a sustained bullish recovery for nearly two months. 

Will Dogecoin be able to break free from this downward pressure and embark on a new upward trajectory?

A Crucial Juncture For DOGE Price

Analyzing the technical aspects of Dogecoins price movement on the weekly time frame reveals a significant decrease at the beginning of June, ultimately reaching the $0.06 horizontal support area. This particular zone holds immense importance as it has remained intact for an impressive 378-day period.

Whether the price manages to bounce back above this critical level or succumbs to a breakdown could potentially dictate the future trend for DOGE.

At present, according to CoinGecko, the value of Dogecoin stands at $0.063. However, recent market conditions have not been favorable, leading to a slump in DOGEs price.

Over the course of the past...

Binances regulatory trouble continues to mount as the exchange faces pushback in Europe and the United States.

Michael Moro (Danny Nelson/CoinDesk)

COMP/USD chart on Binance (TradingView)

EU officials are touting the benefits of a digital euro. (Ervins Strauhmanis/Flickr)

In consideration of recent developments, a bill has been introduced to evaluate the feasibility of establishing a state-administered depository for cryptocurrencies, positioning North Carolina as the custodian of its Bitcoin and virtual asset holdings.

However, the proposed study will thoroughly assess the costs and benefits associated with alternatives such as a privately managed depository or utilizing the depository of another state.

A Comprehensive Study For North Carolinas Financial Holdings

On June 28, the House approved a bill that authorizes a comprehensive study with a budget of $50,000. The primary objective of this study is to evaluate the feasibility of incorporating gold bullion and virtual currencies like BTC into North Carolinas financial holdings. The study aims to examine various aspects, including the secure acquisition, storage, insurance, and liquidation of these assets.

One of the main areas of investigation is the potential impact that gold and cryptocurrency holdings could have on North Carolinas funds.

Specifically, the study intends to assess whether such holdings could serve as a hedge against inflation and mitigate systemic credit risks. Furthermore, it seeks to determine if integrating gold and crypto assets into the portfolio could effectively reduce volatility and enhance overall returns.

By undertaking this study, the House plans to gather crucial insights and evidence that will inform the decision-making process regarding North Carolinas investment strategy.

The bill emphasizes a neutral and data-driven approach to understanding the potential benefits and risks associated with diversifying the states financial holdings with gold and virtual currencies.

The bill was successfully passed in the House with a majority vote of 73 in favor, 40 against, and seven members absent. For it to become law or be subject to a potential veto by Governor Roy Cooper, it must now proceed to the Senate for further consideration.

Bitcoin Study: Analysis Of North Carolinas Virtual Asset Holdings

In a separate legislative initiative, on May 3, North Carolinas House unanimously approved a bill that would prohibit payments to the state using a central bank digital currency (CBDC).

Additionally, the bill specified that North Carolina would not permit the Federal Reserve to conduct any future pilot CBDC testing within its jurisdiction.

...

CEO of Binance Changpeng Zhao at Consensus Singapore 2018 (CoinDesk)

The Australian government is addressing the risks of cutting banking services to crypto exchanges amid a flurry of banks restricting certain services over scams.

The ECB wants to probe DLT-based financial markets (Michael M/Pixabay)

Officials in the United States are considering restricting the computing power of chips to lessen the flow of AI chips available in the Chinese market.

AI technology has gained a lot of traction over the past year, with the European Union and the United States already proposing legislation to regulate the nascent tech.

John J. Ray III (C-Span)

Founder/CEO of Binance, Changpeng Zhao (Antonio Masiello/Getty Images)

Stellar (XLM) has recently experienced a remarkable surge, outshining various altcoins in the market. In a surprising turn of events, Stellar witnessed a staggering 17% increase in its value, giving investors and enthusiasts something to look forward to.

This surge comes as a breath of fresh air for the crypto community, which has been grappling with volatility and uncertainty in the last few weeks.

With a strong focus on scalability and accessibility, Stellar has garnered a loyal following among individuals and organizations seeking efficient and inclusive financial solutions.

But what factors have contributed to this remarkable growth?

Market Momentum, Technological Advancements Fuel Stellars Rise

The recent surge over the past seven days is not only a testament to the altcoins individual strength but also reflective of the broader markets positive momentum.

One contributing factor to Stellars surge is the continuous stream of robust upgrades and advancements being made by its developers. Stellars blockchain technology, known for its speed and scalability, has been steadily improving, solidifying its position as a reliable and efficient payment protocol. 

According to a post on Twitter by Timer Weller, a core developer of the Stellar protocol, developers now have the opportunity to utilize the recently introduced overlay protocol. This protocol brings about substantial scalability improvements for Stellar and enables efficient invocations of Soroban smart contracts.

If youre building on Stellar check this out. This small change in the overlay protocol will allow Stellar to scale significantly and enable efficient Soroban smart contract invocations. https://t.co/oCVUaMv1qB

Tomer Weller (@tomerweller) June 27, 2023

...

Bitcoin short-term holders are keenly eyeing potential BTC selling opportunities, even as their average profits total a modest 10%.

An inside view of the Orb, Worldcoin's custom hardware that makes cryptographic IDs based on iris scans. (Worldcoin)

Nostr's Damus, on Apple's App Store. (Apple)

Mastercard (Alina Kuptsova/Pixabay)

The study would examine the possible impact of holding crypto and how the state would custody digital currency.

Shibarium, the highly anticipated layer 2 solution by Shiba Inu, is facing significant delays, leaving investors in a state of uncertainty. Despite initial expectations for a launch between the second and third quarter of 2023, the exact release date remains unknown.

However, Shiba Inu chief developer Shytoshi Kusama released a new video today that may give the community renewed optimism. Alluding to the most frequently asked question of when Shibarium will finally be released, Kusama wrote via Twitter today: Wen is so last year. The real question is WHERE? and shared numerous hashtags: #SHIBARMY #SHIBARIUM #SHIBOSHIS #SHIBAETERNITY #MVSHIB #SHIBACALS #WELLY #UNIFICATION #BADIDEAI #SEEYOUTHERE.

The video features the Shiba Inu logo and a major (American) city. The message of the video is: Something is coming. Actually we are going somewhere. Apparently the developers of Shiba Inu are planning a big event, whether it is the launch party for Shibarium is the one million dollar question. At least thats what Kusamas words suggest, as its apparently no longer a question of when, but where. However, it could just be a Shiba Inu convention or an event to announce something else, so far its all speculation.

#wen is so last year. The real question is #WHERE? #SHIBARMY #SHIBARIUM #SHIBOSHIS #SHIBAETERNITY #MVSHIB #SHIBACALS #WELLY #UNIFICATION #BADIDEAI #SEEYOUTHERE pic.twitter.com/vLDAXVwWGn

Shytoshi Kusama (@ShytoshiKusama)...

Americas central bank has been stress-testing retail banks in the wake of several high-profile banking collapses earlier this year.

Ripples token price started a fresh decline from $0.5265 against the US Dollar. XRP price could extend its decline unless it climbs back above $0.50.

• Ripples token price is moving lower below the $0.488 support against the US dollar.
• The price is now trading below $0.48 and the 100 simple moving average (4 hours).
• There is a key bearish trend line forming with resistance near $0.475 on the 4-hour chart of the XRP/USD pair (data source from Kraken).
• The pair might continue to decline below the $0.444 support in the near term.

Ripples Token Price Starts Downside Correction

In the past few days, Ripples XRP saw a downside correction from the $0.5265 resistance against the US Dollar. It dipped below the $0.505 support zone, similar to Bitcoin and Ethereum.

The price gained bearish momentum below the $0.480 support zone. A low was formed near $0.446 and the price is now recovering losses. There was a move above the $0.450 and $0.455 resistance levels. XRP surpassed the 23.6% Fib retracement level of the downward move from the $0.5263 swing high to the $0.4460 low.

XRP price is now trading below $0.500 and the 100 simple moving average (4 hours). There is also a key bearish trend line forming with resistance near $0.475 on the 4-hour chart of the XRP/USD pair.

Initial resistance on the upside is near the $0.475 zone. The first major resistance is near the $0.448 level and the 100 simple moving average (4 hours). It is close to the 50% Fib retracement level of the downward move from the $0.5263 swing high to the $0.4460 low.

Source: XRPUSD on TradingView.com

A successful break above the $0.48 resistance level might send the price toward the $0.505 resistance. Any more gains might call for a test of...

Artificial intelligence could prove to be a boon for investors looking for gains in today's unusual market.

0.00010 BTC = 3.05 USD
1.00 USD = 0.00003 BTC
Converter

Securities and Exchange Commissioner Hester Peirce discussed a possible United States crypto legal framework, giving a reminder that not all uses are financial.

Bank of Italy is calling for closer regulator scrutiny of stablecoins, which they say have not proved stable at all.

FTX is inching closer to a potential reboot, with CEO John Ray reportedly opening up the floor to bidders looking to finance the new venture.

Bitcoin daily chart. (CoinDesk)

The tokenized asset would need to be appropriately backed but could absolutely be listed in the future, said ASX chief information officer Dan Chesterman.

Azuki Elementals (Azuki.com)

(Jacques Julien/Getty Images)

The Reserve Bank of India listed six specific ways a stablecoin can undermine emerging markets, adding to its mounting case against crypto.

The lending platforms team will begin offering loans directly to some borrowers instead of relying solely on pool delegates to provide capital.

Bitcoin and several altcoins are stuck in a tight range, indicating that a breakout is brewing.

Bearish stock financial, bear market chart falling prices down turn from global economic and financial crisis. (Getty Images)

FTX founder Sam Bankman-Fried (Michael M. Santiago/Getty Images)

The Indonesia Bitcoin Conference 2023 is set to take place on October 26-27 at the Prime Plaza Hotel in Bali, bringing together a diverse group of individuals interested in Bitcoin's potential to revolutionize the financial industry.

With over 40 speakers, the conference will offer attendees the chance to engage with top minds in the field, including Jack Dorsey, Chairman of Block Inc., Stephan Livera, Head of Education from Swan Bitcoin, Alex Gladstein, CSO of Human Rights Foundation and Samson Mow, CEO of Jan3.

Activities such as expert panels, keynote speeches, bazaars and exhibitions will be featured at the event. Additionally, a Lightning hackathon will be held prior to the conference, aiming to bring developers together to learn about and innovate on Lightning Network apps. The hackathon will have a total prize of $10,000 and is expected to encourage collaboration and showcase the network's potential for usability and scalability.

Dea Rezkitha, the conference organizer, expressed excitement about the event, saying "We're excited to bring together bitcoin enthusiasts for the Indonesia Bitcoin Conference 2023. Bitcoin has the potential to transform the financial industry and create new opportunities for individuals and businesses."

Bali, known for its breathtaking beaches and vibrant culture, serves as an ideal backdrop for the conference.

For more information about the conference, including the full list of speakers and schedule of events, individuals are encouraged to visit the official conference website at www.indonesiabitcoinconference.com.

Disclaimer: BTC Inc is a media partner of the Indonesia Bitcoin Conference.

Compound founder Robert Leshner speaks at Token Summit 2019. (CoinDesk)

BlackRock headquarters (Spencer Platt/Getty Images)

Project Mariana uses an automated market maker to reduce settlement risk and to create a liquidity pool in place of order books.

The North Carolina House of Representatives has passed House Bill 721, which includes provisions to study the acquisition and potential benefits of virtual currency, with a specific focus on Bitcoin. The bill, titled State Precious Metals Depository Study, aims to examine the process of securely holding, insuring, and liquidating virtual currency on behalf of the state. It has now been referred to the Senate for further consideration.

The legislation recognizes the growing importance of virtual currency, as defined in G.S. 53-208.42(20), and proposes evaluating its potential impact on the state's financial strategy. The study outlined in the bill will analyze the expected benefits of allocating a portion of the General Fund to virtual currency, aiming to hedge against inflation and systemic credit risks, reduce overall portfolio volatility, and increase portfolio returns over time.

Language relating to the study of virtual currency, including the specific reference to Bitcoin, was added after Dan Spuller, head of industry affairs at the North Carolina Blockchain Initiative, testified on behalf of the Initiative in front of the North Carolina House Standing Committee. Spuller, who highlighted in a subsequent tweet that this is one of many pro-Bitcoin pushes the Initiative is making in the state, received unanimous support in the language being added to the bill.

In addition to exploring the potential benefits of virtual currency like Bitcoin, the bill also emphasizes the importance of assessing the costs, benefits and security measures associated with various depository options. The study will examine the feasibility of utilizing a privately managed depository, another state's depository, or establishing a State-administered depository within North Carolina. The ultimate goal is to determine the most suitable custodian, guardian and administrator for virtual currency assets held by the state, its agencies, political subdivisions, or other instrumentalities.

Quoting directly from the bill, it states, "the expected impact of allocating a portion of the General Fund to virtual currency to hedge against inflation and systemic credit risks, reduce overall portfolio volatility, and increase portfolio returns over time."

The inclusion of virtual currency and Bitcoin in the legislation showcases North Carolina's proactive approach to studying Bitcoin and exploring its potential benefits. 

Introduction

In a blockchain network where participants remain anonymous, a dependable coordination mechanism is essential. The "proof" acts as confirmation that a participant has met the requirements to validate a block of transactions, signifying their good-faith participation. One such consensus algorithm employed to generate new blocks, distribute new cryptocurrency, and validate transactions is proof of stake (PoS).

This mechanism provides an alternative to the original consensus method, proof of work (PoW). Rather than the energy expenditure necessitated by PoW, PoS requires validators or miners to make contributions to the network from their own holdings of the blockchain's native cryptocurrency, i.e., their stake.

To avoid losing their stake, validators are incentivized to operate honestly and reach a consensus on the order and validity of transactions. PoS miners are selected based on the amount of cryptocurrency they hold or "stake" in the network; therefore, the more cryptocurrency a validator stakes, the more likely they will be chosen to create the next block.

Read More >> Technical Guide To Proof Of Stake

Comparison With Proof Of Work

Instead of stakes, PoW requires considerable computational resources and energy consumption to validate transactions and create new blocks. For this reason, people assume proof of stake is more energy efficient and less resource intensive than PoW. Yet, we will learn later in this article that this is a somewhat false assumption.

Both consensus mechanisms aim at producing new blocks and validating transactions. They must also maintain the security and integrity of the blockchain network, but they do so in different ways.

In PoW, miners compete to solve the Byzantine Generals Problem faster and reach a consensus on the validity of transactions. The quickest miner to complete the target hash creates a new block and receives the block reward, the network's token of value. By selecting the chain with the most work, the network overcomes any ambiguity, and double spending is prevented due to requiring at least 51% of the global hash power for a double spend block to catch up.

In Ethereums PoS, by means of comparison, the double-spending problem is solved using checkpoint blocks at various points in time, approved by a two-thirds majority vote through a stake to assure everyone in the network about the truth of the system.

Another significant difference between PoS and PoW is the incentives and the ethics behind them. In a PoS network, i...

Ethereum's staking ratio continues to rise since the network upgrade in April.

(simoncarter/ Getty)

(Cleveland Trust Co., modified by CoinDesk)

Michael Saylor, executive director, MicroStrategy (Marco Bello/Getty Images)

Cybercrime / Getty Images

(Artur Debat/Getty Images)

BTC/USD chart (TradingView)

ARK Invest CEO and CIO Cathie Wood (Marco Bello/Getty Images)

The German foreign service created a dog-themed NFT collection in the form of a treasure hunt to recruit and test new cyber talent.

On this weeks episode of The Market Report, Cointelegraphs resident expert discusses whether Bitcoin will ever be below $27,000 again. Have you missed your chance to purchase some sats at sub $30,000 levels?

The Israeli ministries of defense and justice and a number of intelligence and enforcement agencies collaborated; Chainalysis also pitched in.

Gary Gensler, the chairman for the U.S. Securities and Exchange Commission, is not an irrational player, economist Paolo Tasca writes. (SEC, modified by CoinDesk)

As a result of the judgment, the defendant is also now prohibited from engaging in any trading activities within markets regulated by the CFTC and is barred from registering with the regulatory body.

The crypto exchange still remains the worlds largest by a significant proportion.

MicroStrategy, the leading public corporation in terms of bitcoin holdings, has once again demonstrated its aggressive bitcoin acquisition strategy. The company recently announced the purchase of an additional 12,333 BTC for approximately $347.0 million, at an average price of $28,136 per bitcoin. This brings MicroStrategy's total holdings to an impressive 152,333 BTC, acquired at an average price of $29,668 per bitcoin. With a total of 21 million bitcoins set to ever exist, MicroStrategy now controls approximately 0.726% of the total available supply.

This latest move by MicroStrategy further solidifies its position as the largest public corporation holder of bitcoin. MicroStrategy's journey with bitcoin began in August 2020, and despite selling some of its holdings for tax loss harvesting in December 2022, the company has consistently increased its bitcoin collection. In fact, shortly after the sale, MicroStrategy acquired an additional 2,500 bitcoin, further bolstering its already significant holdings. With their current holdings, MicroStrategy now controls approximately 0.726% of the total 21 million bitcoins that will ever be mined.

In addition to its relentless accumulation of bitcoin, MicroStrategy has recently revealed plans to leverage Lightning for enterprise infrastructure services and content monetization solutions. The company's chairman, Michael Saylor, has been actively spearheading the mission of advancing Bitcoin adoption and development.

The latest acquisition of bitcoin by MicroStrategy reinforces the company's belief in the long-term viability of the digital asset. With Marathon being the only other company holding a substantial amount of bitcoin compared to MicroStrategy, and this acquisition being larger than their entire holdings, it is clear that MicroStrategy's aggressive acquisition strategy positions it as a dominant force in the corporate bitcoin space, controlling a significant percentage of the limited supply.

Illicit activities related to crypto increased across the sector in 2022 despite an overall market downturn.

ARK Invest and 21Shares third application for a spot Bitcoin ETF now includes a surveillance sharing agreement.

CoSoul NFT (Coordinape)

Projects competing to become the dominant "layer 2" network atop Ethereum are now competing to become networks of networks. (Unsplash)

"Themes and Variations" by Vera Molnar, modified by CoinDesk. (Sotheby's)

Grayscale CEO Michael Sonnenshein (CoinDesk)

(Jesse Hamilton/CoinDesk)