ChainFabricNews

IMAGE SOURCE: Linkdin   Bitcoin’s Surge: Understanding the Factors Driving the Crypto Boom Bitcoin, the world’s first and most well-known cryptocurrency, has been on an impressive upward trajectory lately, reaching prices around $96,399. This marks a huge increase of more than 100% in 2024, even after some minor setbacks in the market. While Bitcoin's price often fluctuates, these recent gains are the result of several key factors that have made the digital currency more appealing to investors. Here, we’ll break down what’s fueling Bitcoin’s remarkable rise. Growing Interest from Big Investors One of the most significant factors behind Bitcoin’s surge is the growing interest from institutional investors. In the early days of Bitcoin, it was largely a speculative asset favored by individuals. However, over the past few years, large corporations and institutional investors have entered the market. Big names like Tesla, MicroStrategy, and Block.one have made significant Bitcoin purcha...

IMAGE SOURCE: LUNU  The cryptocurrency industry has been rocked by a major development: Montenegro has officially approved the extradition of Do Kwon, the founder of Terraform Labs, to the United States. This decision represents a critical moment for accountability in the world of digital assets, shining a spotlight on the importance of transparency and ethical behavior in a rapidly growing industry. The Collapse of Terraform Labs: What Happened? Do Kwon’s troubles began with the dramatic collapse of Terraform Labs, a blockchain platform that once boasted a market value of over $40 billion. The platform’s downfall left countless investors reeling, as the TerraUSD stablecoin and Luna token—its flagship products—plummeted to near worthlessness. Allegations of fraud have followed Kwon ever since. U.S. prosecutors claim he misled investors about the stability of Terra’s ecosystem, contributing to the financial ruin of many. This case serves as a stark reminder of the risks inherent in ...

IMAGE SOURCE: CryptoSlate  As 2024 comes to a close, Bitcoin, the world’s leading cryptocurrency, is making headlines with its recent surge in momentum. This rise has been driven in part by geopolitical developments in Russia, which have brought new attention to the role of cryptocurrencies in global finance. Recently, Bitcoin saw a modest 0.9% price increase, reaching $96,399. Although it experienced a slight weekly decline, its annual performance remains remarkable, with gains exceeding 100%. These trends underscore the growing impact of international politics on digital assets. Russia’s Increasing Support for Bitcoin A major factor behind Bitcoin’s recent performance is the growing support from Russian President Vladimir Putin. Earlier this month, Putin highlighted the potential of Bitcoin and other cryptocurrencies to help Russia navigate international sanctions. His sentiments were echoed by Russia’s Finance Minister Anton Siluanov, who pointed to Bitcoin as a strategic tool f...