Bit VM: Enhancing Bitcoin Smart Contract Capabilities
Robin Linus, the co-founder of zeros syncs and blockchain developer, recently unveiled a white paper for Bit VM. The aim of the project is to enhance Bitcoin’s smart contract capabilities without requiring a soft fork. The upgrade to the network’s consensus rules enables any computable function to be verified. The paper was posted on X, formerly known as Twitter, and it enables more expressive smart contracts on Bitcoin. This could potentially bring more use cases and scalability to the network.
Touring Completeness
According to reviewer Sam Parker, touring completeness refers to a system that can perform any computation given enough time and resources. This means that Bitcoin can now be as touring complete as any other chain.
Doge Price Could Drop by 67%: Pay Attention to Critical Level
In Doge price predictions articles, it was highlighted that the Doge price could drop by 67%. Yesterday, the Doge price lost its 120 day horizontal support. The drop was fueled by minor sales, with the final push coming from BTC losses. As a result, Doge fell below 6 cents due to the losses in Bitcoin price on the daily chart. The 6 cents support has been noticeably significant since June 10th. In addition to losing this level, the price formed a descending triangle, which is considered a bearish pattern trading below a declining resistance trend line since July 25th.
Binance’s 1 Billion Recovery Fund
Following the collapse of FTX, Binance announced the Industry Recovery Initiative (IRI) to help crypto projects facing liquidity crisis. According to Bloomberg, the startup only distributed less than 30 million of the 1 billion allocated. The fund was launched in June to help crypto projects facing liquidity crisis. Binance CEO Changpeng Zhao said the fund was to help projects that had been affected by the market crash.
Binance Commits to IRI
Binance has recently committed nearly 1 billion to IRI, with its B USD stable coin, and an additional 70 million contributed by various crypto firms. These firms include Jump Crypto, DWP Labs, Animoca Brands, Aptus Labs, GSR, Kronos Research, Booker Group, and Polygon Labs. Of the nine publicly disclosed participants, only Aptus Labs fully invested the funds it committed.
Bitcoin Hits $100,000
Annual Bitcoin recently hit $100,000. According to Rec Capital, S2F analysis, the cryptocurrency is currently in a bargain buying area for the S2F model. This indicates that we could see significant appreciation ahead. Re Capital’s video argues that Bitcoin remains in a confirmed bull market with potential for substantial gains, considering historical S2F performance.
Monero Price Forms Symmetrical Triangle Pattern
Monero price has recently formed a symmetrical triangle pattern. The coin moved sideways in the past few days, as the recent rally faded. Monero retreated to a low of 152.8, a few points below this week’s high of 157.6. It has risen by more than 12% from the lowest point in September. Like other cryptocurrencies, Monero is reacting to the ongoing war in Israel, which started on Saturday.
Cryptocurrency Price Predictions
Cryptocurrency prices are highly volatile and unpredictable. Despite this, many investors and analysts make predictions about the future of cryptocurrency prices. Recently, the fear of a potential war has caused energy prices to surge, which could have a significant impact on the prices of cryptocurrencies. The upcoming Federal Open Market Committee (FOMC) minutes and US Consumer Price Index (CPI) data could provide more insight into the future of cryptocurrency prices.
Tethers USDT
Tethers USDT is a cryptocurrency that is pegged to the US dollar. Recently, it has been reported that Alam Research, a bankrupt crypto firm, has minted up to 40 billion USDT. According to Coinbase director Connor Grogan, Alam Research appears to be responsible for 47% of USDT’s circulating supply. Furthermore, a 2021 Protos report suggested that the amount of minted USDT was higher than Alam’s Assets Under Management (AUM) at the cryptocurrency peak. However, it is difficult to get a lead on the amount of redemptions processed by Tether for Alam.
Cryptocurrency Regulations
Cryptocurrency regulations are constantly changing and evolving. Recently, the US Treasury Department has proposed new rules that would require cryptocurrency exchanges to collect and report information on their customers. This could have a significant impact on the cryptocurrency market, as it could lead to increased scrutiny and regulation. Additionally, the European Union has proposed new regulations that would require cryptocurrency exchanges to register with their local financial regulator. These regulations could also have an impact on the cryptocurrency market, as it could lead to increased transparency and accountability.
