Bitcoin News and Finance

Gold, Silver, and Crypto Prices Surge After Federal Reserve’s Quarter-Point Increase

Following a quarter-point increase in the federal funds rate by the Federal Reserve on Wednesday, precious metals such as silver and gold experienced a surge in value against the U.S. dollar, with gains ranging from 0.87% to 1.18%. Gold, in particular, has been on an upward trajectory, having risen by 3.4% in the past month and over 25% in the last six months.

Fed’s Rate Hike Sparks Surge in Gold and Silver Values

As of May 3, 2023, the price of gold per ounce has once again surpassed the $2,000 mark, currently trading at $2,057 per unit, representing a 1.18% increase in the past 24 hours. The Fed’s rate hike has sparked a flurry of activity on Twitter, with precious metals trending and generating numerous discussions and tweets. Meanwhile, global data from Google Trends indicates that the search term “how to buy gold” reached a perfect score of 100 on Wednesday afternoon, according to 24-hour statistics.

Silver has also been on the rise, with the value of an ounce increasing by 0.87% against the U.S. dollar on Wednesday. Over the past 30 days, silver has seen a 6% increase, while six-month statistics reveal a 31.5% rise against the greenback. Following the Federal Open Market Committee’s (FOMC) decision to raise the benchmark bank rate on Wednesday, chair Jerome Powell emphasized the central bank’s unwavering commitment to reducing inflation.

“The assessment of the extent to which additional policy firming may be appropriate is going to be an ongoing one, meeting by meeting,” Powell remarked. “We have to balance the risk of not doing enough and not getting inflation under control against the risk of slowing down economic activity too much. And we thought that this rate hike, along with the meaningful change in our policy statement, was the right way to balance that.”

Crypto Assets Rise While Crude Oil Prices Plummet

On Wednesday, not only did gold experience a surge in value, but crypto assets also saw a rise, with bitcoin (BTC) surpassing the $29K per unit range and ethereum (ETH) reaching over $1,900 per unit. Both leading crypto assets saw gains ranging from 1.3% to 1.8% against the greenback.

However, market observers also witnessed a significant drop in crude oil prices on Wednesday, with West Texas Intermediate (WTI), Brent Blend, Nymex crude, Dubai Crude, and the OPEC Reference Basket all recording losses during the day’s trading sessions. This decline in crude prices follows Saudi Arabia and OPEC’s decision to cut back on production earlier this week.

What are your thoughts on the recent surge in gold, silver, and crypto prices, and how do you think the Federal Reserve’s decision to raise the federal funds rate will impact the market in the long run? Share your thoughts about this subject in the comments section below.

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Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%. Meanwhile, the game platform’s smooth love potion token has slid over 8% over the last 24 hours. Axie Infinity Down More Than 40% Since All-Time High Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days. The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin. AXS/USD on Ju

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r

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