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10 Best Cryptocurrencies of June 2024 • Benzinga

SatoshiTimes Staff

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10 Best Cryptocurrencies of June 2024 • Benzinga

Benzinga’s top cryptocurrency picks for June include Bitcoin, Ethereum and Solana, which are available on exchanges like eToro, Coinbase and Kraken.

The cryptocurrency market has seen significant growth in 2024, marked by increased Institutional adoption, surging prices, and heightened confidence. Key events, including the approval of spot Bitcoin ETFs in January, and Ethereum ETFs in May, alongside the Bitcoin halving and memecoin mania, have driven the market to unprecedented levels. While the markets have performed well year-to-date, many believe there is a possibility of further gains in the remainder of the year and into 2025. Let’s look at some of the best tokens to invest in for June 2024.  

Disclosure: eToro supports the following currencies: BTC, ADA, DASH, DOGE, EOS, ETH, LTC, NEO, XLM, XTZ, TRX, ZEC. eToro USA LLC; Investments are subject to market risk, including the possible loss of principal. T&Cs apply. *The bonus is available to Benzinga readers in the US for open states only. Served by eToro USA LLC.

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Top Cryptocurrencies to Buy Now

The landscape of best cryptocurrencies evolves as the crypto market continually changes. However, here are some of the top tokens for June 2024.

1. Bitcoin (BTC)

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Bitcoin thumbnail

btc

Bitcoin

$66203.00*

*prices delayed up to 10 minutes

+0.27%

24H

Buy Bitcoin

MOONBUST

Disclosure: eToro USA LLC; Investments are subject to market risk, including the possible loss of principal.

Price: ~$67,000

Market cap: ~$1.3 trillion

Year-over-year return: ~150%

Bitcoin has been the leader in the cryptocurrency sector, setting the stage for all other projects. Acting as a form of payment and a store of value, it has performed strongly in 2024, reaching new all-time highs (ATHs) and surpassing previous records set in 2021. Sentiment on bitcoin remains predominantly bullish, with many anticipating the price rally will continue. In 2024, primary catalysts included approving spot exchange-traded funds (ETFs) and the bitcoin halving in late April. ETFs have attracted new investors, while the halving is expected to decrease the daily token supply. 

2. Ethereum (ETH)

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Ethereum thumbnailEthereum thumbnail

eth

Ethereum

$3557.58*

*prices delayed up to 10 minutes

+0.79%

24H

Buy Ethereum

MOONBUST

Disclosure: eToro USA LLC; Investments are subject to market risk, including the possible loss of principal.

Price: ~$3,700

Market cap: ~$450 billion

Year-over-year return: ~100%

Ethereum is the most prominent blockchain, providing users access to decentralized finance (DeFi) applications. It accommodates various projects, from AI startups to leading meme coins. Its robust development platform and easily usable innovative contract system make this possible. It is a versatile chain, allowing users to access all aspects of Web3 easily. The chain switched from a proof-of-work (PoW) system to a more efficient proof-of-stake (PoS) system in 2022. In 2024, some significant events have been upgrades to the chain that increased speeds and lowered costs, as well as the approval of spot ETFs, which could launch later this year. 

3. Solana (SOL)

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sol

Solana

$144.37*

*prices delayed up to 10 minutes

+0.50%

24H

Buy Solana

MOONBUST

Disclosure: eToro USA LLC; Investments are subject to market risk, including the possible loss of principal.

Price: ~$165

Market cap: ~$75 billion

Year-over-year return: ~700%

Solana had a rough start in 2023 because Sam Bankman-Fried and FTX were some of the largest investors in the project. This resulted in the token losing over 96% of its value within 11 months of the FTX collapse. At the time, many thought that SOL was a dead project. However, 2023 and 2024 have seen a revival of the project. Many new tokens have started on Solana recently. These projects include staking protocols, storage, AI and many others. However, memecoins have been one of the driving forces behind Solana’s comeback. These new tokens have skyrocketed in popularity, causing investors to buy and swap SOL for these new tokens. 

4. Ripple (XRP)

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xrp

XRP

$0.488428*

*prices delayed up to 10 minutes

+2.02%

24H

Buy XRP

MOONBUST

Disclosure: eToro USA LLC; Investments are subject to market risk, including the possible loss of principal.

Price: ~$0.50

Market cap: ~$30 billion

Year-over-year return: 0%

Ripple is a centralized company hoping to bring crypto’s possibilities to the banking sector. Its business model uses its native token, XRP, to facilitate transactions. Ripple can use the XRP token as an intermediary between other assets. For example, BTC and ETH are not directly interchangeable. However, Ripple can convert BTC to XRP and then convert the XRP into ETH. This concept can be applied to any currency swap or transaction a bank may have to make daily. XRP is particularly useful in this case because it is fast and has transaction fees that are a tiny fraction of a cent. If financial institutions start using XRP on a larger scale, the price could increase. Additionally, discussions of a spot XRP ETF have surfaced. If this were to happen, it could increase the token’s price. 

5. Dogecoin (DOGE)

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doge

Dogecoin

$0.136074*

*prices delayed up to 10 minutes

-0.12%

24H

Buy Dogecoin

MOONBUST

Disclosure: eToro USA LLC; Investments are subject to market risk, including the possible loss of principal.

Price: ~$0.16

Market cap: ~$22 billion

Year-over-year return: ~110%

DOGE has been able to stick around in the top 20 tokens by market cap for some time and has gone up with the rest of the market in 2024. Additionally, new use cases in the future could send the token even higher. Elon Musk said he would consider allowing users to buy a Tesla car with DOGE, enabling people to buy Tesla merch with DOGE. If this were to happen, it could increase demand for the token and send the price higher. DOGE has also held its spot as the top meme coin in past bull and bear markets, performing particularly well in 2024.

6. Avalanche (AVAX)

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avax

Avalanche

$30.34*

*prices delayed up to 10 minutes

-0.13%

24H

Buy Avalanche

MOONBUST

Disclosure: eToro USA LLC; Investments are subject to market risk, including the possible loss of principal.

Price: ~$35

Market cap: ~$14 billion

Year-over-year return: ~150%

Avalanche is a chain focused on high speeds and low costs. It hopes to make interacting with DeFi as straightforward and inexpensive as possible. The project saw relatively low volatility in 2023 but has performed exceptionally well in 2024. Its success has resulted from new projects making a home on the chain. Most of these projects revolve around exchanges and trading. For example, one of the most popular protocols is Trader Joe, which allows users to trade, stake, yield farm and provide liquidity for a handful of Avalanche-based projects. If Avalanche can attract a more diverse range of projects, it could continue its upward momentum throughout the remainder of the year and into 2025.

7. Quantum Resistant Ledger (QRL)

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qrl

Quantum Resistant Ledger

$0.240989*

*prices delayed up to 10 minutes

-3.35%

24H

Buy Quantum Resistant Ledger

MOONBUST

Disclosure: eToro USA LLC; Investments are subject to market risk, including the possible loss of principal.

Price: ~$0.25

Market cap: ~$18 million

Year-over-year return: ~110%

One of the defining characteristics of computing is exponential growth. Computers are becoming increasingly faster and take up less space, and advances in quantum computing could pose a risk to some of the larger blockchains. For instance, a quantum computer could overthrow the current mining system on bitcoin through a 51% attack, or the computer could bypass the current cryptographic protocols and access anyone’s wallet address. While these may seem like distant threats, researchers already use quantum computing in various contexts. Quantum Resistant Ledger (QRL) is looking to solve this issue by creating a new security protocol called the eXtended Merkle Tree Signature Scheme (XMSS). The blockchain is designed to resist quantum computing attacks, potentially allowing it to survive if other blockchains go down from quantum attacks. 

8. Shiba Inu (SHIB)

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shib

Shiba Inu

$0.00002067*

*prices delayed up to 10 minutes

-0.05%

24H

Buy Shiba Inu

MOONBUST

Price: ~$0.000025

Market cap: ~$15 billion

Year-over-year return: ~190%

SHIB is among the few meme coins that will survive the 2022 bear market. The project is a meme coin based on the Shiba Inu dog breed, akin to the DOGE meme. The project has spent several years building an ecosystem that gives the token utility beyond just a meme coin. For example, it has created NFT projects, a layer 2 blockchain called Shibarium, a separate token for staking rewards and a biweekly magazine. These new uses have helped the token survive the bear market and perform well in the current market. The token has sustained a strong community over the years, allowing it to cement itself as a meme coin worth the hype. 

9. NEAR Protocol (NEAR)

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near

NEAR Protocol

$5.61*

*prices delayed up to 10 minutes

+0.06%

24H

Buy NEAR Protocol

MOONBUST

Disclosure: eToro USA LLC; Investments are subject to market risk, including the possible loss of principal.

Price: ~7

Market cap: ~$7.5 billion

Year-over-year return: ~350%

NEAR hopes to solve one of the most significant issues many see with Ethereum and other chains. These chains require vast computing power to operate and to provide services to their users. This requirement puts lots of strain on the chain, resulting in slow speeds and high costs. NEAR utilizes sharding and a novel consensus mechanism called Nightshade to improve speeds and scalability. Developers can benefit from others’ projects, as everything on the platform is open source. These are optimal conditions for developers, as it is much easier to make faster applications. If NEAR can attract more projects that lead to more use cases, the price has room to keep increasing.

10. Binance Coin (BNB)

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bnb

BNB

$605.55*

*prices delayed up to 10 minutes

-0.12%

24H

Buy BNB

MOONBUST

Disclosure: eToro USA LLC; Investments are subject to market risk, including the possible loss of principal.

Price: ~$590

Market cap: ~$87 billion

Year-over-year return: ~90%

Binance Coin was hit in late 2023 when its former CEO, Changpeng Zhao (CZ), was allegedly involved in money laundering charges. Many wondered if Binance could continue as a company, as the charges were severe. However, the dust has settled from the incident, and BNB has been on a solid upward trajectory in 2024. This is mainly driven by Binance’s exchange listing new tokens, which makes the platform attractive to investors looking to stay ahead of the latest crypto trends and purchase the hottest tokens as soon as they are available. If Binance can continue to move forward from the scandal with CZ and bring in new users with interesting new tokens, there is room for the price to continue increasing. 

What is Cryptocurrency and How Does It Work?

Cryptocurrency is a token-based way of transacting online. Tokens are stored on an unchangeable ledger that anyone can view. The data is also stored on an extensive computer network, allowing for much easier scalability. 

Most cryptocurrencies are processed by other users on the blockchain. These users can verify transactions in exchange for rewards, usually through staking (PoS) or mining (PoW).

Since the basic framework for technology has been developed by previous projects such as bitcoin and ethereum, it is easy for new developers to create a blockchain of their own. Projects like ethereum allow users to create their tokens with little effort. Because of this, tens of thousands of cryptocurrencies are available to invest in.

How to Invest in Cryptocurrency

To invest in crypto, you first have to create an account on a cryptocurrency trading platform. Some of the top firms are Coinbase, Kraken, Webull, and eToro. These sites are well known for their low fees, security, and ease of use.

To make an account, you can simply navigate to one of the trading platforms and enter an email and password to create your account. You will then have to provide documentation (e.g. passport, driver’s license, etc.) to verify your account. Once your account is verified, you can link a bank account using various methods and fund the trading account. 

Some platforms, such as Coinbase, only offer crypto trading. This can be beneficial for those looking to invest in crypto alone and niche tokens. However, other sites, such as Robinhood, allow stock and crypto trading on the same account, though they have fewer crypto offerings. This is just one of the many differences between platforms, so it is important to understand the pros and cons of each before investing. 

How to Report Crypto on Taxes

The IRS treats cryptocurrency as a form of property. Because of this, you must pay capital gains tax on crypto sales. Crypto exchanges send Form 1099s, which report capital gains and losses for the year. You can use this form to report your taxes on crypto transactions

The forms are in your account information and are easily accessible. Additionally, they are not too complicated and are easy to report when you file your taxes. 

What Are Cryptocurrency Exchange-Traded Funds (ETFs)?

In January 2024, the U.S. Securities and Exchange Commission (SEC) approved a handful of spot ETFs to begin trading. These investment instruments allow equity investors to access a variety of underlying assets. They work by the sponsoring firm acquiring a pool of assets (in this case, bitcoin) and then packaging them into shares, which are then distributed to investors. For the bitcoin ETFs, the sponsors bought lots of bitcoins and then packaged them into shares, which traders can buy and sell. 

As of right now, only Bitcoin ETFs are trading. However, the SEC recently approved spot Ethereum ETFs, which require more due diligence from the SEC before they can officially begin trading. However, some speculate that the ETH ETFs could start trading within a few months. 

Top Cryptocurrencies: Lots of Options

There are countless cryptocurrencies to invest in, and new tokens are created daily. While this can make it difficult to hone in on a specific token to buy, it can also mean many opportunities in the markets. However, it is essential to understand your own risk tolerance and investment objectives before investing. The crypto market is notoriously volatile, leading to large profits and significant losses. 

Disclosure: ²Sum of median estimated savings and rewards earned, per user in 2021 across multiple Coinbase programs (excluding sweepstakes). This amount includes fee waivers from Coinbase One (excluding the subscription cost), rewards from Coinbase Card, and staking rewards. ³Crypto rewards is an optional Coinbase offer. Upon purchase of USDC, you will be automatically opted in to rewards. If you’d like to opt out or learn more about rewards, you can click here. The rewards rate is subject to change and can vary by region. Customers will be able to see the latest applicable rates directly within their accounts

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Frequently Asked Questions

A

While it is hard to tell, cryptocurrencies with potential catalysts may be more likely to boom if the events play out in their favor.

 

A

Bitcoin is the highest-rated cryptocurrency because of its longevity and size.

 

A

All crypto is potentially susceptible to hacking, but larger projects are generally considered to be safer. Quantum Resistant Ledger (QRL) is a blockchain that emphasizes safety. 

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We are the editorial team of SatoshiTimes, where seriousness meets clarity in cryptocurrency analysis. With a robust team of finance and blockchain technology experts, we are dedicated to meticulously exploring complex crypto markets with detailed assessments and an unbiased approach. Our mission is to democratize access to knowledge of emerging financial technologies, ensuring they are understandable and accessible to all. In every article on SatoshiTimes, we strive to provide content that not only educates, but also empowers our readers, facilitating their integration into the financial digital age.

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US Cryptocurrency Rules Delayed by ‘Never-Ending’ Lawsuits

SatoshiTimes Staff

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Ripple Pledges $25 Million Per Year to Crypto Super PAC

Ripple CEO says cryptocurrency industry still seeking regulatory clarity from US

Speaking to Bloomberg News on Wednesday (July 17), Author: Brad Garlinghouse he said America is behind behind other countries which have already adopted cryptocurrency regulations.

“What we’re seeing, where it’s the UK, Japan, Singapore… even the European Union, more than two dozen countries have come together to provide a framework for cryptocurrency regulation,” Garlinghouse said.

“It’s frustrating that we as a country can’t get that regulatory framework in place. And instead, we have this never-ending lawsuit coming from the SEC that doesn’t really address the problem.”

Ripple has been the target of some of these legal disputes. Securities and Exchange Commission (SEC) sued the company in 2020, accusing it of conducting a $1.3 billion operation offering of unregistered securities tied to its XRP token.

However, last year a judge ruled that only Ripple’s institutional sales of XRP, not retail sales, violated the law, a decision widely seen as a victory for the cryptocurrency industry.

As PYMNTS noted at the time, that ruling has “far-reaching repercussions impact across the digital asset ecosystem, which has long maintained that its tokens do not represent securities contracts.”

However, Garlinghouse told Bloomberg on Wednesday that the company cannot wage multimillion-dollar legal battles over each token.

He spoke to the news agency from the Republican National Convention in Milwaukee, where the party is backing the candidacies of former President Donald Trump and Ohio Sen. J.D. Vance, both of whom are considered pro-cryptocurrency.

But Garlinghouse argued that cryptocurrencies “should not be a partisan issue,” and noted that he had recently attended a conference in Washington that included Democrats, including White House officials.

“I think they were there, listening to the industry… it was refreshing to start having that conversation,” she said.

President Joe Biden earlier this year he vetoed a measure which would have ended the SEC’s special rules for crypto-asset custodians. This legislation was supported by both the digital asset industry and the banking industry.

Ripple early this year donated $25 million to the cryptocurrency industry’s super PAC Fair Smoothiewith Garlinghouse stating at the time that such donations would continue every year, as long as the industry had its detractors.

Second Open SecretsWhich monitor spending For campaigns, the PAC has spent $13.4 million this year, much of it to help defeat Rep. Katie Porter’s (D-Calif.) U.S. Senate campaign.



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The Future of Cybersecurity in the Cryptocurrency Industry

SatoshiTimes Staff

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The Future of Cybersecurity in the Cryptocurrency Industry

The cryptocurrency space has had a tumultuous journey, with its fair share of ups and downs. As we look to the future, one area that remains a constant focus is cybersecurity. The digital nature of cryptocurrencies makes them inherently vulnerable to cyber threats, and as the industry evolves, so does the landscape of potential risks.

In 2022, the cryptocurrency market faced significant challenges, with over $2 trillion in market value lost. This event served as a wake-up call for the industry, highlighting the need for robust cybersecurity measures. The future of cryptocurrency security is expected to see a shift towards more regulated and established institutions taking the reins of crypto technology and blockchain infrastructure.

The decentralized nature of cryptocurrencies offers numerous benefits, such as transparency and financial inclusion. However, it also introduces unique security challenges. The risk landscape is filled with threats such as hacking, phishing, ransomware attacks, malware, and social engineering. These threats not only lead to financial losses, but also damage the reputation and trust within the cryptocurrency ecosystem.

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The decentralized nature of cryptocurrencies offers many benefits, but it also presents unique security challenges. Cyber ​​risks such as hacking, phishing, and ransomware pose threats to the integrity of digital assets. The infrastructure that supports cryptocurrencies is not immune to vulnerabilities, including smart contract flaws and exchange hacks.

To address these vulnerabilities, the infrastructure that supports cryptocurrencies must be strengthened. Smart contract vulnerabilities, exchange hacks, wallet breaches, and flaws in the underlying blockchain technology are significant concerns that must be addressed to ensure the security and integrity of digital assets.

As cybercriminal tactics and techniques become more sophisticated, the cryptocurrency industry must stay ahead of the curve. The future will likely see more targeted attacks, exploiting weaknesses in infrastructure, networks, and human factors. This requires a proactive and multifaceted approach to cybersecurity.

To mitigate these risks, several measures must be adopted:

Strengthening security measures: Developers, exchanges, and wallet providers must improve security protocols, use strong encryption, implement multi-factor authentication, and conduct regular security audits.

Education and awareness: Users should be educated on best practices for protecting their digital assets, including using strong passwords, recognizing phishing attempts, and using hardware wallets for secure storage.

Looking ahead, the cryptocurrency industry is expected to see an increased focus on robust security measures. Blockchain projects and exchanges are likely to invest in advanced encryption techniques and decentralized storage solutions to protect user assets. The future impact of cyber risk on cryptocurrencies will depend on the collective efforts of stakeholders to address vulnerabilities and strengthen security measures.

Collective efforts by stakeholders in the cryptocurrency space are crucial to address vulnerabilities and strengthen security measures. While challenges persist, advances in cybersecurity technologies and practices offer hope for a more secure and resilient cryptocurrency ecosystem.

The future of cybersecurity in the cryptocurrency industry depends on finding a balance between innovation and regulation. It requires a collaborative effort from all parties involved, from developers to end users, to create a secure environment that fosters trust and growth in the industry. As we move forward, it is critical that lessons learned from past events guide the development of stronger security measures, ensuring the longevity and stability of cryptocurrencies as a vital part of the modern economic toolkit.

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Bullish XRP and RLBK price predictions rise, outpacing the broader cryptocurrency market, prompting Shiba Inu holders to switch!

SatoshiTimes Staff

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Bullish XRP and RLBK price predictions rise, outpacing the broader cryptocurrency market, prompting Shiba Inu holders to switch!

Bitcoin’s one-week surge from $60,000 has pushed other cryptocurrencies into an uptrend. However, for many altcoins, this trend has been temporary. Altcoins such as XRP and Shiba Inu (SHIB) have experienced price drops. However, Rollblock, a new altcoin on the Ethereum blockchain, has thrived during this period, attracting thousands of investors looking for long-term growth.

XRP’s Nearly 30% Growth Over Last Week Drops as Selling Pressure Increases

XRP is seeing further price decline as Ripple investors withdraw their profits from the token. The surge in XRP’s price to $0.64 in the past week has provided investors with a perfect opportunity to increase their returns in the short term. With the ongoing sell-off in XRP, XRP has jumped over 8% in the past day and is now trading at $0.59. However, analysts tracking XRP indicators predict that XRP could still extend its gains by over 30% in the coming weeks.

Shiba Inu (SHIB) marks its third consecutive day of losses

Shiba Inu (SHIB) is in a period of adjustment after a week of strong gains. In the last 24 hours, SHIB has seen a jump of over 7%, reflecting a natural market fluctuation. Analysts are observing a death cross on the Shiba Inu chart, which historically signals the potential for future opportunities as the market stabilizes. As investors explore new possibilities, some are diversifying into promising altcoins like Rollblock (RBLK) to strategically rebalance their portfolios and capitalize on the emerging trend.

Rollblock (RBLK) Up Another 7% as New Investors Join Pre-Sale

Rollblock (RBLK) has taken the cryptocurrency market by storm, having attracted investors from more popular altcoins like Shiba Inu (SHIB) and XRP. Rollblock’s growth is attributed to its utility in the $450 billion global gaming industry.

Rollblock aims to use blockchain technology to bridge the gap between centralized and decentralized gambling. With blockchain technology, Rollblock secures every transaction in its online casino, providing transparency and convenience to millions of players who are uncomfortable placing bets on other iGaming platforms.

This innovative use of blockchain technology in the industry has grown Rollblock to over 4,000 new users in less than two months. With plans to add sports betting, this number is expected to grow exponentially in Q3.

Rollblock uses a revenue sharing model that splits up to 30% of its casino’s weekly profits with token holders. This happens after Rollblock buys back $RBLK from the open market and uses half of it for rewards. The other half is burned to increase the price of $RBLK.

Rollblock price has seen four increases in the past month with $RBLK tokens now selling for $0.017. Analysts predict that at the current growth rate, Rollblock could increase by over 800% before the presale ends. For investors looking for a long-term token with growth potential, phase four is the best time to buy Rollblock before its price skyrockets!

Discover the exciting Rollblock (RBLK) pre-sale opportunities now!

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Texas Crypto Miners Turn to AI as Crypto Declines

SatoshiTimes Staff

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Texas Crypto Miners Turn to AI as Crypto Declines

As cryptocurrency mining becomes less profitable, Texas cryptocurrency mining companies are switching to supporting artificial intelligence companies.

Bitcoin miners, with their sprawling data centers and access to significant energy resources, are ideally suited for computationally intensive AI operations, and as cryptocurrency mining becomes less profitable, companies see this shift as a logical answer to their problems.

On Thursday, Houston-based Lancium and Denver-based Crusoe Energy Systems announced a multibillion-dollar deal to build a 200-megawatt data center near the West Texas city of Abilene to support advanced artificial intelligence applications such as medical research and aircraft design, CNBC reported. The plant represents the first phase of a larger 1.2 gigawatt project.

Lancium and Crusoe’s move into AI mirrors a broader trend among bitcoin miners. The combined market capitalization of the top U.S.-listed bitcoin miners hit a record $22.8 billion in June. Companies like Bit Digital and Hut 8 are diversifying into AI, with Bit Digital securing a $92 million annual revenue deal to supply Nvidia GPUs and Hut 8 raising $150 million to expand its AI data center.

But the growing popularity of these operations also presents challenges, particularly for the Texas power grid. Last month, the Electric Reliability Council of Texas announced that the state is expected to nearly double its energy production by 2030 to meet the high energy demands of data centers and cryptocurrency operations.

Lieutenant Governor Dan Patrick expressed concern about the projections.

“Cryptocurrency miners and data centers will account for more than 50% of the additional growth. We need to take a close look at these two sectors,” He wrote on Twitter/X. “They produce very few jobs compared to the incredible demands they place on our network. Cryptocurrency miners could actually make more money selling electricity to the network than they do from their cryptocurrency mining operations.”

Analysts predict significant growth in data center power capacity, which is expected to account for up to 9% of U.S. electricity consumption by 2030.

The operations also pose challenges for nearby cities. Earlier this month, TIME reported that a crypto-mining facility was seriously compromising the health of residents in the city of Granbury. TIME reported more than 40 people with serious health problems, including cardiovascular disease, high blood pressure and hearing loss. At least 10 of the residents needed to go to the emergency room or an urgent care facility.

The disturbances were caused by the extreme noise generated by the crypto-mining facility’s fans, which are used to keep the machines cool. While the proposed data center in Abilene would use liquid cooling systems, it’s still unclear whether the facility’s operations would pose a health risk to local residents.

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