China News Daily Official TheBitTimes.com

Bitcoin is approaching its all-time high as investors anticipate a market shift following the upcoming U.S. presidential election. On Tuesday, Bitcoin’s price rose to $73,577, approaching its previous high of $73,750, last recorded on March 13, based on Yahoo Finance data. As of now, it trades below $72,000. According to a digital asset strategist, the key drivers behind this recent price surge include seasonal factors—October’s second half is historically favorable for Bitcoin—and anticipation surrounding the U.S. election. This positive momentum in Bitcoin could influence the broader cryptocurrency market, potentially leading altcoins to see similar gains. With this outlook, many market participants are closely watching altcoins as potential opportunities for strong returns. InsideBitcoins has identified some of the best cryptocurrencies to invest in right now .  Best Cryptocurrencies to Invest in Right Now Conflux recently partnered with Footprint Ana...

The Bank of New York (BNY) has been granted a variance from adhering to the SEC’s Staff Accounting Bulletin (SAB) 121 guidelines. This permits the bank to offer Bitcoin custody services as part of its regular business operations, marking a significant step for institutional involvement in the crypto market. The news of BNY’s variance coincided with a surge in Bitcoin’s price. This rise in value reflects growing market optimism and interest in the cryptocurrency market, particularly as major financial institutions like BNY become more involved. BNY’s ability to offer crypto custody services represents a positive signal for the broader crypto industry.  In addition to Bitcoin’s price rally, this development has a ripple effect on several altcoins, with many seeing positive price movements. As a result, investors are increasingly scanning the market for the best cryptocurrencies to invest in right now , seeking opportunities in both established and emer...

A glut of new research indicates that personal experiences may be the NFT market’s primary mover. A trio of studies published in November may shine some light on the social and psychological factors that motivate movement in the non-fungible token (NFT) market. Researchers from Western University in Canada, Tilburg University in the Netherlands, the University of North Carolina at Chapel Hill in the U.S., and Rennes School of Business in France, across three independent studies, found that personal experiences and luck, along with asset scarcity and consumer optimism, were catalysts for the majority of market movement in the NFT space. NFT market movement In a study conducted by Guneet Kaur Nagpal of Western University and Luc Renneboog of Tilburg University, entitled “On Non-fungible Tokens, Blockchain Hypes, and the Creation of Scarcity,” the researchers analyzed the market dynamics of “Crypto Punks,” a popular series of NFT assets. “CryptoPunks,” write the researchers, “are among ...

Ethereum-based layer-2 Optimistic Rollup network Optimism (OP) has recorded a 1,687% surge in weekly trading volumes. The latest data from defi analytics platform DeFiLlama indicates a dramatic upswing in trading activity on Optimism, a layer 2 scaling solution anchored on Ethereum (ETH), propelling the network to a trading volume of approximately $300 million.  An update from crypto reporter Colin Wu suggests that the surge in Optimism’s volume is primarily due to the recent security flaw on KyberSwap, which led to a loss of $46.5 million. The breach resulted in the loss of 10,049 wETH, 4,017 wstETH, and 3.98 million Arbitrum (ARB) tokens. According to DeFiLlama, in the past week, Optimism DEX’s weekly trading volume increased by 1,800% MOM to more than $12 billion, significantly setting a record high, surpassing Ethereum. However, this increase was due to a vulnerability attack on KyberSwap, which was transaction… — Wu Blockchain (@WuBlockchain) November 26, 202...

Circle has introduced support for its USDC stablecoin on two of Ethereum’s most prominent layer 2 scaling solutions – Optimism and Base. Businesses and institutions can now access on/off ramps for USDC on both the Optimistic Ethereum (OP) mainnet and Base Layer 2 using Circle Account. This makes depositing and withdrawing USDC across different chains simple, avoiding costly “lock and mint” bridging. Also read: Ripple: Report Shows XRP Stumbling Despite Positive Court Ruling Developers can leverage native USDC to build applications on a stable foundation with official Circle backing on these scaling platforms. Their improved throughput and lower costs unlock new use cases for USDC. 1/ It’s here. #StableSeptember. The day you’ve all been waiting for – what comes first? How about two launches on the same day? Introducing $USDC on @optimismFND and USDC on @BuildOnBase, two leading L2 scaling solutions for Ethereum built on the ...