The mean block size of the Bitcoin network peaked this month, with the hash rate setting new records before the rewards halving, scheduled in about 10 hours at the time of press. According to data available on blockchain.com, the mean block size of the Bitcoin (BTC) network peaked at 1.341 MB on May 2, with a second smaller peak of 1.312 MB on May 7. The previous all-time high (ATH) was in December 2019, at 1.314 MB. Source: blockchain.com With the halving approaching, the Bitcoin network is likewise seeing a significant increase in fees, possibly to prioritize transactions. The average …

With the third Bitcoin rewards halving scheduled in approximately 14 hours at the time of press, the average value of transaction fees has surged more than 300%. According to data available on Bitinfocharts, the average transaction fees for Bitcoin (BTC) on May 8 peaked at $3.19, an increase of over 300% from the average fee on April 26, $0.62. The last time the average BTC transaction fee was over $3.00 was in July 2019. Source: Bitinfocharts Historically, Bitcoin transaction fees prior to a halving event have increased markedly. The last halving on July 9, 2016 saw transaction fees skyrocket in …

In the last 3 hours Bitcoin (BTC) price gained 2.63% after dropping to $8,256 earlier in the day. With just less than 24-hours before the block reward halving is scheduled to take place, traders are likely biting their nails and anxious to see if the top ranked crypto-asset on CoinMarketCap will be able to reclaim $9,000. Crypto market weekly price chart. Source: Coin360 Today’s drop to $8,256 brought the Bitcoin price below the ascending channel trendline for the second time in 24-hours and traders again purchased into the dip, allowing the price to quickly rebound to $8,784. BTC USDT 1-hour …

With Bitcoin’s (BTC) third mining rewards halving just over 24 hours away, mainstream market hype surrounding the event has grown exponentially, especially after balancing on the $10K threshold for some time. On May 9, BTC dropped to the $8,100 mark before making a small recovery to around $8,800. Nevertheless, the fact that BTC has overall been able to stave off bearish market pressure instilled a certain amount of confidence in the hearts of investors all over the globe — despite Bitcoin facing a 15% value slip on May 9. Additionally, it bears mentioning that since dropping to a price point …

Coming every Sunday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This Week Three reasons for the Bitcoin “halving dump” from $10,000 to $8,100 We’re less than 48 hours away from “the halvening” — and there’s been no end of drama over the past week. Initially, there was hype as Bitcoin soared, with the world’s biggest cryptocurrency testing $10,000. But over the weekend, a dramatic and sudden sell-off …

This is not the first time an event called halving has happened on the Bitcoin (BTC) network. The first halving took place in 2012; the second halving took place in 2016. Now, the third halving is expected, and like the previous ones, it will halve the reward for the calculated Bitcoin block. Originally, the reward for the calculated block was 50 BTC. Since then, the reward has been reduced to 25 and 12.5 BTC — and is about to be reduced to 6.75 BTC. The upcoming halving, however, differs from previous halvings in that much more people are involved in …

We have almost reached Bitcoin’s third halving where the network halves the block reward from 12.5 Bitcoin (BTC) to 6.25 BTC. This event has recently ignited strong market interest where Bitcoin broke through $10,000 on May 8, 2020, fully recovering from the Black Thursday crash. Meanwhile, the total cryptocurrency market cap has also passed $270 billion. At the time of writing, Bitcoin is currently hovering around $10,000. On-chain market activities have turned positive and have taken a u-turn after Black Thursday As of May 8, 2020, the Bitcoin network hash rate has reached an all-time high, and the difficulty level …

Binance has launched its own mining pool. This could spell bad news for miners, but probably not for the reason you’re thinking of. We’re all aware that Binance is continuing to extend its reach across the industry. The exchange’s purchase of CoinMarketCap for a reported $400 million signaled a bold step toward grabbing attention at the top of the crypto funnel, and its recent foray into mining just ahead of the 2020 halving shows that Binance is also interested in having influence at the source. By all accounts, the company culture at Binance appears to be one of innovation and …

At 12:40 A.M. UTC time Bitcoin (BTC) price dropped from $9,574 to $8,112 in the course of 15 minutes. The 15.30% drop came after the top-ranked digital asset on CoinMarketCap struggled to reclaim the $9,800 support after falling below the support which formed the base of a bull pennant and was also aligned with a high volume node on the volume profile visible range indicator. Crypto market weekly price chart. Source: Coin360 The unexpected drop is likely to have caught many traders off guard and data from Skew shows that BitMEX hourly liquidations reached $226 million. BitMEX XBTUSD Liquidations. Source: …

Following the Bitcoin (BTC) halving on May 12, traders generally expect the price of the top-ranking cryptocurrency by market capitalization to drop. According to a prominent on-chain analyst, the selling pressure may come from crypto exchanges. Willy Woo, the co-founder of Hypersheet, said that exchanges will likely begin selling their storage of crypto assets composed of trading fees. Typically, exchanges receive trading fees in the form of cryptocurrencies and sell them to cover operational costs. Considering that the crypto exchange market generates 1,200 BTC a day from fees — equivalent to $11.6 million — it may slow down the uptrend …

The price of Bitcoin (BTC), the top-ranked cryptocurrency by market capitalization, hit the psychological barrier of $10,000 but immediately rejected. Meanwhile, the sentiment is shifting from fear towards greed as the Crypto Fear & Greed Index is now above 50 for the first time in three months. However, altcoins have been showing weakness across the board. Investors are selling their altcoins to catch the Bitcoin train with the halving now less than three days away. Crypto market daily performance. Source: Coin360 Bitcoin hits the psychological level of $10,000 BTC USDT 12-hour chart. Source: TradingView Bitcoin is showing strength as the …

As Bitcoin (BTC) fast approaches its scheduled third halving, several metrics are now pointing toward positive market sentiment going into this most-anticipated event. The perpetual funding rate turns to positive territory, suggesting a positive market sentiment The perpetual funding rate serves as a useful indicator to gauge overall market sentiment. When the rate is positive, long positions periodically pay short positions and vice versa. Funding rates also tend to correlate with market sentiment, meaning that when the market is strongly bullish or bearish, funding rates tend to be positive or negative, respectively. The perpetual funding rate turned extremely negative during …