Bitcoin News and Finance: What You Need to Know

Sleeping Bitcoin Wallet Awakens: $3.7M Worth of BTC Suddenly Moves After Close to 12 Years of Dormancy  On May 15, 2023, the number of Ordinal inscriptions surpassed the 7 million mark and as of 9:00 a.m. Eastern Time on Tuesday morning, 7,204,882 Ordinal inscriptions have been added to the Bitcoin blockchain. Miners have collected 1,324 bitcoin in fees by confirming inscription transactions which equate to roughly $35.86 million in added onchain fees. Bitcoin’s Inscription Frenzy: Over 7 Million Ordinal Inscriptions and Counting The unstoppable momentum of Bitcoin’s Ordinal inscriptions continues to defy detractors, surging past several milestones. With over 7 million inscriptions now firmly embedded in the blockchain, any skepticism toward demand surrounding this trend is being shattered. Today, on May 16, 2023, the tally stands at 7,204,882 inscriptions since the inaugural one occurred on December 16, 2022. The world of inscriptions experienced a significant acceleration ...

Sleeping Bitcoin Wallet Awakens: $3.7M Worth of BTC Suddenly Moves After Close to 12 Years of Dormancy  Over the past four days, there has been a surge in Ordinal inscriptions, and as a result, the BRC20 token economy has experienced significant growth with over 10,000 additional coins. The current value of the BRC20 token economy now stands at $497.75 million, comprising a total of 24,677 distinct tokens. Bitcoin Users Issued More Than 10,000 New BRC20 Tokens In a Permissionless Fashion in 4 Days Bitcoin is embracing functionalities that were previously synonymous with the Ethereum blockchain, such as the innovation of new tokens and the generation of non-fungible token assets. As the clock struck 10:43 a.m. Eastern Time on Tuesday, May 16, the BRC20 token economy achieved an impressive valuation of $497.75 million. Archived records indicate that the collective market capitalization of its 24,677 distinct digital tokens has soared 16.56%, surpassing the $427 million mark obs...

Bangladesh and India have decided to conduct trade settlements in their own currencies, bypassing the dominance of the U.S. dollar. According to sources from the Bangladesh Bank, the decision was made due to the issues of liquidity in foreign currency that Bangladesh faces, which are disrupting the flow of imports to the country. Bangladesh and India to Conduct Bilateral Trade in National Currencies The governments of Bangladesh and India have decided to conduct their bilateral trade settlements in national currencies, away from the dominance of the U.S. dollar. According to local sources, the decision would have the objective of safeguarding the flow of imports to Bangladesh, which is currently facing U.S. dollar liquidity issues as a result of the effects of the Russia-Ukraine conflict. Furthermore, this decision would also cut a series of costs related to the usage of the U.S. dollar, switching it out for Indian rupees and Bangladeshi takas. Mezbaul Haque, executive director of ...

The global crypto market is expanding steadily despite recent bearish sentiments. Over 119 million people worldwide started owning cryptocurrencies in 2022, marking a 39% rise in total ownership . It reflects a growing demand for alternative payment methods and investment instruments. More people now believe in the potential of futuristic asset classes like crypto. Particularly since innovators are bringing novel utilities to the table. But the road ahead isn’t all rosy. We must overcome several challenges before crypto-based assets bloom fully. One key issue is the lack of simple, user-friendly, and stable instruments for beginner and pro investors. For instance, index investing, despite its strong track record in traditional finance , is mostly inaccessible to the crypto community. This exposes investors to market-related risks like high volatility, reducing their scope for diversification and generating suboptimal returns. J’JO provides a solution to these problems with its a...

The now-defunct crypto lender Blockfi has recently filed a court document outlining its plans to liquidate the company. The firm has come to the realization that selling the company would not be beneficial to its creditors. As a result, Blockfi has decided to take matters into its own hands and proceed with a self-liquidating transaction. Once the assets are distributed, the company will be wound down. Blockfi Explores Self-Liquidation and Alternative Transaction Options ​​Blockfi has recently updated the community with a notice regarding its latest disclosure statement with the bankruptcy court. The update reveals that the crypto lender has made the decision to proceed with a self-liquidation transaction after several unsuccessful attempts to sell the business. With 660,000 client accounts, the top 50 creditors are owed $1.3 billion. However, there is a glimmer of hope for some, as the latest filing notes that certain classes of claims could potentially see recoveries “as high as ...