2023-11-25 17:18

The decentralized storage network Filecoin (FIL) experienced a slight uptick this week, with its native cryptocurrency FIL increasing by 0.3% against the US dollar, reaching approximately $4.66. The modest rise contributed to a 2.2% gain in market value over the past week. As of today, Filecoin's market capitalization stands at $2.20 billion, accompanied by a daily trading volume that peaked at $98.34 million. Filecoin, which made its debut on October 14th, 2020, has a total coin supply nearing two billion, with more than 472 million coins currently in active circulation. The platform was developed by Protocol Labs in 2014 and offers an alternative to centralized storage systems. It is designed to ensure data security and efficiency through the integration of Proof-of-Replication (PoRep) and Proof-of-Spacetime (PoSt) cryptographic proofs within its network operations. These technological features are part of what underpins Filecoin's value proposition in the competitive landscape of decentralized storage solutions. https://www.investing.com/news/cryptocurrency-news/filecoin-sees-marginal-weekly-gain-against-us-dollar-93CH-3243111

2023-11-25 14:49

Copyrighted Image by: Reuters. An unusual transaction on the Bitcoin network has caught the attention of the cryptocurrency community, as a user accidentally paid a staggering $3.1 million in transaction fees for sending $2.1 million worth of Bitcoin (BTC). This costly error was confirmed when block #818,087 was mined by AntPool, revealing that the sender overpaid by nearly 120,000 times the standard handling charge. The mishap occurred on Wednesday when wallet "bc1qn…ekrnl," with a starting balance of 139 BTC, intended to transfer 55 BTC to another wallet "bc1qy…m36t4." However, instead of a typical transaction fee, an enormous sum of 83 BTC (approximately $3.13 million) was included as the fee. This blunder resulted in the transaction fees making up almost 90% of the total fees collected in that block, which amounted to 85.216 BTC, dwarfing the standard mining subsidy of 6.25 BTC. This incident underscores the importance of meticulous verification before sending transactions on the Bitcoin network. Fees are set by senders as incentives for miners to prioritize their transactions. Once a transaction is confirmed, these fees become non-refundable, making it crucial for users to double-check the details to avoid such expensive mistakes. In comparison to this recent error, there was an earlier incident involving Paxos, which also overpaid by sending a 20 BTC handling fee on a minor transfer. However, Paxos was compensated after F2Pool confirmed their claim and reimbursed the excess amount. The recent event has raised awareness among Bitcoin users about the potential risks associated with transaction fee settings. It also highlights how irreversible blockchain transactions are once they have been added to the ledger, as evidenced by a failed fork attempt and subsequent creation of an exact replica block at this juncture, which was validated and included in the blockchain despite the error. https://www.investing.com/news/cryptocurrency-news/bitcoin-user-mistakenly-pays-31m-in-fees-on-a-21m-transfer-93CH-3243089

2023-11-25 14:22

Currency traders have seen the Euro maintain a bullish stance against the US Dollar today, as it continues to target the 1.1000 mark, finding support at the 1.0900 level. However, the European currency has experienced a downturn against the British Pound, reaching a two-week low. Investor sentiment has been influenced by shifting expectations around the European Central Bank's monetary policy. Market projections for an ECB interest rate cut have been postponed from April to June, with anticipated cuts now reduced to only 83 basis points. The FX markets remained relatively stable last week, but upcoming inflation data from both the Eurozone and the United States next week is anticipated to be a significant factor in determining the direction of currency movements. Traders are likely to closely monitor these reports for insights into future central bank actions and their potential impact on currency valuations. https://www.investing.com/news/forex-news/euro-gains-on-dollar-with-eyes-on-11000-slips-against-pound-93CH-3243085

2023-11-25 14:14

Cryptocurrency markets have presented a mixed bag of results recently, with Ethereum Classic (ETC) demonstrating its robust presence in the space. Despite a marginal decline early today to $19.28 or its Bitcoin equivalent, ETC's market capitalization holds strong at $2.78 billion, backed by a substantial trade volume nearing $140 million. The cryptocurrency, which was established on July 23rd, 2016, remains committed to its original principles of immutability and censorship-resistance for smart contracts and decentralized application (dApp) functionality on its blockchain platform. Operating on a proof-of-work protocol with its native EtcHash algorithm, Ethereum Classic boasts a total supply of 210,700,000 coins and a circulating supply of 144,201,836 coins, reflecting a solid adoption rate within the community. The broader crypto market has seen varied performance today. Bitcoin recorded a slight decrease at $37,690.84 (-0.2%), while altcoins such as Dogecoin and Litecoin experienced gains, rising to $0.0782 (+0.8%) and $71.09 (+1.1%), respectively. Bitcoin Cash also saw growth to $227.49 (+0.6%). In contrast, UNUS SED LEO took a notable hit, decreasing to $3.97 (-3.3%), alongside minor dips in Bitcoin SV at $47.76 (-0.3%) and Conflux at $0.16 (-0.1%). Investors interested in Ethereum Classic often start by acquiring mainstream cryptocurrencies like Bitcoin or Ethereum through recognized platforms before trading for ETC. The vibrant ETC community actively engages in discussions on Reddit and tracks the currency's progress through Github contributions. As the cryptocurrency landscape continues to evolve, Ethereum Classic's dedication to preserving the founding tenets of the blockchain technology it builds upon distinguishes it within an increasingly diverse market ecosystem. https://www.investing.com/news/cryptocurrency-news/ethereum-classic-shows-resilience-amid-mixed-crypto-market-movements-93CH-3243082

2023-11-24 21:31

Cryptocurrency exchange Binance has broadened its trading landscape by introducing BLUR to its spot market. This move marks BLUR's transition from being exclusively available on futures platforms to now being traded alongside other cryptocurrencies in the spot market. According to the analysis from Layergg, Binance's decision could set a trend for other futures-exclusive tokens to make similar leaps. The inclusion of BLUR as a spot pair is seen as a pioneering step, which might encourage the addition of various altcoins such as PYTH, BONK, EYEBROW, TOKEN, BSV, ORBS, and BIGTIME. These tokens are noted for their volatility in the cryptocurrency markets. One particular token that analysts are watching closely is Bitcoin SV (BSV). It stands out due to its origins from a Bitcoin hardfork and its association with Craig Wright. The expansion of Binance's offerings reflects the dynamic nature of the crypto market and the growing interest in a wider array of digital assets among traders. https://www.investing.com/news/cryptocurrency-news/binance-adds-blur-to-spot-market-may-lead-to-more-altcoin-inclusions-93CH-3243015

2023-11-24 21:30

Copyrighted Image by: Reuters. The Australian dollar reached a three-month peak against the US dollar today, trading at 0.6591, buoyed by a combination of positive market sentiment and waning US dollar strength. The shift in currency dynamics follows the release of mixed economic indicators from the United States. Today's reports showed an expansion in the US services sector, with the S&P Global Services PMI registering at 50.8, and growth in the composite sector indicated by a Composite PMI of 50.7. However, these positive developments were tempered by a decline in manufacturing activity, as evidenced by the Manufacturing PMI falling to 49.4. The contrasting data have fueled speculation about possible changes in the Federal Reserve's approach to monetary policy, despite earlier indications of continued tightening measures. Investors are closely monitoring Australia's economic health, especially in light of China's efforts to rejuvenate its property market and comments from RBA Governor Bullock advocating for stricter monetary policies to address inflation. Key Australian financial updates are highly anticipated, including an upcoming speech by Governor Bullock, alongside retail sales figures and inflation data. Similarly, forthcoming US economic disclosures such as housing statistics, consumer confidence levels, GDP revisions, the Fed's preferred gauge for inflation trends, and ISM Manufacturing PMI results are expected to be influential for market movements. The mixed signals from the US economy have led to increased attention on central bank policies globally as investors seek to gauge future interest rate trajectories and their impact on currency valuations. The Australian dollar's rise reflects current optimism but remains sensitive to both domestic economic developments and international monetary policy shifts. https://www.investing.com/news/forex-news/audusd-hits-threemonth-high-amid-mixed-us-economic-reports-93CH-3243013