Author: Coin Telegraph

Bitcoin is officially back in a bull market and could potentially hit $1 million per coin in the next few years, according to trader and investor Michaël van de Poppe.However, the founder of MN Consultancy, MN Capital and MN Academy warned that a $1 million Bitcoin (BTC) price might come alongside a much broader debt crisis that could wreck the price of all assets in the short term.Van de Poppe sat down with Decentralize with Cointelegraph host Jonathan DeYoung at DKGcon 2024 in Amsterdam for an exclusive interview to discuss the state of the Bitcoin bull market, whether an altseason…

Bitcoin has been on a roll this past week, rising above $81,000 on Nov. 10. Some analysts say the rally has just started and has a long way to go. Bitcoin analyst Tuur Demeester said in a post on X that “no rash action is needed, HODLing does the work for you.”Newbie traders may wonder if Bitcoin’s rally has made it overvalued, but Bitwise Invest CEO Hunter Horsley said in a post on X that “Bitcoin (BTC) is different.” “When Bitcoin’s price goes up, people view it as more likely that it will succeed, and therefore be even more valuable. And…

Today in crypto, the FTX bankruptcy estate has filed a $1.8 billion lawsuit against Binance, CryptoQuant boss Ki Young Ju thinks Bitcoin could end 2024 under $59,000 despite it hitting new highs, and Elon Musk has voiced his support for ending the United States Federal Reserve.FTX bankruptcy estate files $1.8 billion lawsuit against Binance, CZThe FTX bankruptcy estate is continuing its pursuit of lawsuits against cryptocurrency companies as part of its ongoing proceedings, with the latest filing targeting Binance.A group of firms involved in the FTX bankruptcy proceedings have initiated a lawsuit against cryptocurrency exchange Binance, seeking to recover $1.8…

Agora, a stablecoin company, has introduced its AUSD stablecoin as the native currency for Polygon’s AggLayer, a crosschain settlement network, to enable multichain transactions via a stable, fiat-backed asset.The partnership aims to eliminate the need for token bridges, simplifying and unifying liquidity for developers and end-users in the AggLayer community onchain.Agora is a stablecoin startup co-founded by Nick van Eck, Drake Evans and Joe McGrady. Custodians, including State Street and VanEck, back its institutional-grade stablecoin AUSD.The development is significant for users of the AggLayer — designed to enable different chains to connect and interact — as it pushes to make…

While some investors hold back from buying Bitcoin when it reaches new highs, MicroStrategy has doubled down, demonstrating a strong commitment to the cryptocurrency.In a Nov. 11 announcement, the business intelligence firm turned Bitcoin (BTC) investor said it bought 27,200 Bitcoin for about $2.03 billion in cash. MicroStrategy purchased the coins between Oct. 31 and Nov. 10, at an average price of $74,463 per BTC, including fees and expenses.With the latest purchase, the company now holds a total of 279,420 BTC, worth nearly $23 billion at current market prices.Selling shares to buy more BitcoinAccording to MicroStrategy, the BTC purchases were…

Near Protocol has unveiled a crosschain AI agent in alpha that can launch memecoins in seconds and search the web to buy products for fiat.Additional functionality is coming soon that is expected to enable users to book flights or order takeaway food on Web2 sites.The NEAR.AI Assistant was launched by co-founder Illia Polusukhin at the Redacted conference in Bangkok on Oct. 10, where the protocol also announced an ambitious plan to build the world’s largest open-source AI model. Polusukhin demonstrated the capabilities of the AI Assistant by using it to spin up a backstory, website and logo for a new Frog…

A single, long-dormant string of code, hidden deep within the original Bitcoin stack, can introduce a suite of new functionality that could potentially see the Bitcoin network rival Ethereum in terms of decentralized finance (DeFi) activity. The upgrade is called “OP_CAT” (short for operation code concatenate) and refers to a few simple lines of code originally introduced by Satoshi Nakamoto. This code was part of Bitcoin’s initial scripting system and effectively increased Bitcoin’s transaction utility and expanded the variety of operations users could perform with Bitcoin. However, Nakamoto was initially worried that OP_CAT could expose the Bitcoin network to security risks, including…

Cointelegraph has announced that Rooch Network, a blockchain project building a native application layer for the Bitcoin ecosystem, has joined the Cointelegraph Accelerator program.Bitcoin (BTC) was conceived as an alternative payment system, a digital cash. With a gigantic increase in value over the years, BTC rapidly became an appealing investment vehicle. Thus, the original cryptocurrency is primarily used for transacting and investing.However, as the role of Bitcoin as a store of value grew, its potential in decentralized applications (DApps) was hindered by technical constraints. While Ethereum and other blockchains have found ways to adapt and support DApps and smart contracts,…

The Conflux Foundation plans to invest $500 million to support the growth of PayFi, short for Pay Finance, a Web3 payments solution.Conflux’s $500 million investment will come from its ecosystem fund and will go toward developing PayFi, a blockchain-based payments platform that aims to bring traditional finance services to the blockchain.PayFi aims to create a “more integrated value network,” by bringing financial products like credit cards, invoice financing and reverse factoring onto the blockchain, Conflux Foundation announced on Nov. 11.The Conflux PayFi Stack. Source: Medium.comThe PayFi stack is built on the Conflux blockchain, a layer-1 network focused on stablecoin and…

Edward Snowden, the privacy advocate and former National Security Agency (NSA) contractor, addressed decentralization during his appearance at Near’s Redacted conference in Bangkok, Thailand.Speaking on topics like cryptocurrencies, artificial intelligence and blockchain technology, Snowden also addressed the impact of venture capital (VC) on blockchain projects, using Solana as an example.He described Solana as “born in prison” due to its heavy VC funding, suggesting that financial backing can impede a blockchain network’s ability to operate independently.While he acknowledged Solana’s rapid growth, Snowden expressed concerns that too much ownership has been ceded to investors, though he noted Solana could “become something” in…