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The Price Of ZetaChain Token Surged By 64% After Listing On Leading CEXs

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The price of the ZetaChain project token, an EVM-compatible layer-1 blockchain, surged after listing on the largest centralized exchanges (CEXs).

According to Coinstats data, over the past 24 hours, ZetaChain token price was $0.9042, or 64% more than the previous day. 

ZetaChain Price Chart | Source: Coinstats

 

Also, on Feb. 1, the coin reached an all-time high of $1.21 after the announcement of listing on leading CEXs, including Bitfinex, OKX, and others. 

Trading volumes for the token have skyrocketed, reaching over $60 million in the last 24 hours.

In August 2023, ZetaChain raised $27 million in investments. 

See Also: 5 Top Meme Coins You Can Invest in 2024 For Good Returns

Blockchain.com, Human Capital, VY Capital, Sky9 Capital, Jane Street Capital, VistaLabs, CMT Digital, Foundation Capital, Lingfeng Capital, GSR, Kudasai and Krust participated in the round. The project’s assessment is not disclosed.

On Jan. 31, ZetaChain announced it would launch its mainnet within “the next few days.” 

The ZetaChain mainnet will be integrated with various chains, from Bitcoin (BTC) and Ethereum (ETH) to the Cosmos ecosystem blockchains. 

According to the latest announcement, BNB Chain is among the initially supported networks.

ZetaChain plans to launch the leading network soon. According to the developers, the latter is designed to combine Ethereum, Polygon, BNB Chain, Bitcoin, and Dogecoin.

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Press Release

Can Finland Be Europe’s Next Crypto Mining Giant

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Finland is emerging fast as an attractive place for crypto mining due to its relatively cool climate, which helps with cooling mining rigs, and its abundant renewable energy sources.

Additionally, Finland has a stable political and economic environment, which can be beneficial for long-term investments like crypto mining operations. 

However, factors such as electricity costs, regulatory environment, and infrastructure availability should also be considered and taken into consideration.

Miners in Finland see the country as an attractive location due to the unique situation of near-zero energy costs during periods of overproduction has attracted the bitcoin mining industry to the Nordic region, Lennu Keinänen co-founder of Once Mining, according to a crypto mining firm based in Finland.

Finland remains Europe’s most unexplored Bitcoin mining frontier in Scandinavia although over the years its Nordic neighbours Norway, and Sweden have been seen as more desirable locations. 

Many crypto miners headed to the region to seek refuge from rising electricity prices in 2022.

See Also: New Crypto Exchange Backpack Now Offering Services In 11 US State

Finland Offers Near-Zero Energy Costs  

In 2023, electricity prices in Finland fell below zero due to surging hydropower, nuclear energy, solar, and wind. 

That year the Nordic nation witnessed its first monthly power surplus in almost 20 years. Analysts forecast that 25 TWh of renewable energy will be built in Finland by 2030, which will push down prices further, according to a report by European energy markets newswire Montel News.

Low energy prices are crucial for crypto miners because mining cryptocurrencies requires a significant amount of electricity. 

The lower the cost of electricity, the higher the profit margins for miners, as it reduces the operational expenses associated with running mining hardware. 

Since energy costs can heavily impact the profitability of mining operations, miners often seek locations with access to cheap electricity to maximize their returns.

“The unique situation of near-zero energy costs during periods of overproduction has attracted the bitcoin mining industry to Finland. Bitcoin mining requires substantial amounts of electricity, and the ability to operate at lower costs significantly enhances profitability,” said Keinänen.

Government Subsidies And Wind Energy

The Finnish government has been providing substantial subsidies for wind energy, aiming to boost renewable energy production and reduce carbon emissions, explains Keinänen.

See Also: Crypto Exchange HTX Applies For Hong Kong License

While well-intentioned, these subsidies have led to a rapid expansion of wind energy capacity. This in turn has had an impact on energy production resulting in a significant increase in fluctuating energy production.

“Wind energy, by nature, is variable and depends on wind conditions. As a result, when wind conditions are favourable, there’s an overproduction of energy, leading to instances where the price of electricity can drop below zero, reaching as low as -0.3€/kWh. Conversely, during periods of low wind, underproduction can occur, causing electricity prices to spike, at times reaching up to 2€/kWh,” said Keinänen.

Finnish Tax Administration

The Finnish Tax Administration has made it clear that crypto is subject to tax. 

Miners have to pay tax on capital gains from disposing of cryptocurrency by selling, trading, or spending it, as well as Income Tax on any income earned from activities such as crypto mining.

“The mining industry is still in the infancy here but about to become quite significant in the next few years,” explains Keinänen.

He goes on to explain that there is huge interest in opening mining sites and there’s a continuous buzz of site scouting activities going on in Finland.

“Bitcoin mining cost efficiency is primarily determined by the price of electricity, as mining consumes significant amounts of power. Lower electricity costs increase profitability, as the expense of running mining hardware is reduced. Therefore, locations with cheap electricity are more cost-efficient for Bitcoin mining. Mining is not tax-free but can be organized quite tax efficiently,” adds Keinänen.

Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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Wormhole Partners Chipmaker AMD Improve Speed Scalability

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Advanced Micro Devices (AMD), the renowned producer of semiconductors, partners with Wormhole in a strategic move to launch into the Web3 space and improve speed and scalability. 

Partnering with Wormhole, a leading interoperability platform, AMD aims to leverage its hardware expertise to accelerate blockchain interoperability and enhance security.

The collaboration focuses on integrating AMD’s enterprise-grade FPGA hardware accelerators into the Wormhole ecosystem. 

These powerful accelerators will support the development of multichain applications built on Wormhole, aiming to improve their speed and scalability. 

Additionally, AMD will contribute its technical know-how to further optimize the ecosystem.

See Also: Ethiopia Partners With Chinese Companies To Bring Large-Scale Bitcoin Mining To Ethiopia

Wormhole views this collaboration as a step towards eliminating reliance on centralized entities for trust and security within the blockchain network. 

They plan to utilize zero-knowledge proofs (ZKPs) to achieve this, further emphasizing the importance of trustless solutions.

Rahul Maganti, a contributor to Wormhole, said: “AMD’s support moves Wormhole one step closer to enabling low-latency, trustless, multichain messaging. Through their support, Wormhole is positioned to roll out several zk-enabled corridors that will provide a superior user experience, both in terms of speed and security.”

The partnership envisions the deployment of zero-knowledge light clients across major blockchains like Ethereum, Near, Solana, Aptos, Sui, and Cosmos. 

This advancement, powered by both cutting-edge cryptography and AMD’s computing muscle, promises more secure and trustless cross-chain communication.

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Expert Outlines Signs Signaling Bitcoin’s Imminent Top; Quant and Emerging Memecoin Eyes Uplift

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As the crypto market continues its volatile journey, investors are closely watching Bitcoin’s movements, eagerly anticipating signs that could indicate an impending market top. Alongside this, emerging projects like Quant and Rebel Satoshi ($RBLZ) are garnering attention for their potential to disrupt the industry. 

Expert Insights on Bitcoin’s Potential Top

Bitcoin, often viewed as the bellwether of the cryptocurrency market, has been on a remarkable run, but experts warn of potential signals indicating an approaching market top. Analysts like Peter Brandt have outlined factors that could contribute to Bitcoin’s plateauing, including diminishing supply impact post-halving events and historical trends suggesting a consolidation period after significant rallies. Additionally, technical indicators like the Relative Strength Index (RSI) are closely monitored for signs of overbought conditions, potentially signalling a market peak. 

 

Insights from experts like 10X Research shedding light on potential signals. According to 10X Research, Bitcoin could experience an average gain of 32% leading up to the highly anticipated halving event on April 19, 2024. Historically, Bitcoin has registered new all-time highs several months after halving events. However, the research firm speculates that BTC might surpass its previous high of $69,044 before the upcoming halving. Factors such as a historical surge ahead of halvings and strong market sentiment toward crypto ETFs contribute to this speculation.

Quant: Bridging Blockchain Networks

Quant, launched in June 2018, pioneers blockchain interoperability with Overledger, the first blockchain operating system. Overledger acts as a bridge, connecting various blockchain networks seamlessly. Founded by Gilbert Verdian and Dr. Paolo Tasca, Quant aims to solve the interoperability problem by enabling different blockchains to communicate efficiently. Overledger facilitates the creation of decentralized multi-chain applications (MApps), requiring developers to hold Quant tokens (QNT). With over 20 years of industry experience, Verdian identified the need for interoperability while working in the healthcare sector, laying the foundation for Quant’s innovative approach to blockchain connectivity.

Rebel Satoshi ($RBLZ): Emerging Memecoin Eyes Uplift

Amidst the evolving crypto landscape, Rebel Satoshi ($RBLZ) emerges as an intriguing memecoin project gaining traction within the community. With a focus on humour and innovation, Rebel Satoshi has captured the attention of investors seeking opportunities in the meme coin space. The ongoing presale of $RBLZ has witnessed significant participation, with over 123 million tokens sold and $2.1 million raised. As the presale nears its $2 million target, anticipation builds for the project’s launch on the Ethereum network.

Investment Opportunity with Rebel Satoshi

For investors looking to diversify their portfolios with innovative projects, Rebel Satoshi presents an enticing opportunity. Built on the Ethereum network, renowned for its robust security features, Rebel Satoshi offers a safe and audited investment avenue. Its commitment to safety, evidenced by the Source Hat audit, solidifies its position as the best cryptocurrency to invest in at this juncture. With the presale concluding on February 29, 2024, investors are encouraged to consider participating in this unique opportunity. The upcoming launch and subsequent developments, including the DEX launch and tier 1 CEX discussions, signify an exciting journey ahead for Rebel Satoshi.

Final Thoughts

In the dynamic world of cryptocurrency, staying informed about market trends and emerging projects is crucial for investors seeking to navigate the landscape successfully. While Bitcoin’s trajectory prompts cautious optimism, projects like Quant and Rebel Satoshi offer promising prospects for those exploring innovative crypto space ventures. As investors evaluate which crypto to buy today for long-term gains, Rebel Satoshi frequently finds itself in the conversation. Its unique features and strong community support position it as one of the top crypto coins.

For the latest updates and more information, be sure to visit the official Rebel Satoshi Presale Website or contact Rebel Red via Telegram



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