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Banking contagion sparks crypto frenzy: investors rush to ‘HODL … – Finbold – Finance in Bold

After the widely publicized collapse of the Silicon Valley Bank (SVB), accompanied by two other major banking institutions crashing and more at risk, investors seem to be increasingly flocking to the alternative solution cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH).

As evident from the declining portion of Bitcoin and Ethereum reserves on crypto exchanges, investors are seeking refuge in these digital assets out of fear that the banking crisis could spread to crypto businesses, as noted by blockchain and financial analysis platform Glassnode in a weekly newsletter sent out on March 13.

Specifically, the report stated that around 0.144% of all BTC and 0.325% of all ETH in circulation was withdrawn from exchange reserves, demonstrating a similar self-custody response pattern to the collapse of the crypto trading platform FTX.

On top of that, the platforms team stressed that these numbers spoke volumes about the growing level of investor confidence in crypto in recent weeks:

On a USD basis, the last month saw over $1.8B in combined BTC and ETH value flow out of exchanges. This is not necessarily large in relative scale. However, observing net exchange withdrawals, especially within the current hostile regulatory environment, does speak to a degree of investor confidence that is worth noting.

Meanwhile, Bitcoin has put some breaks on its recent progress, gaining only 0.17% on the day and at press time trading at the price of $24,674, as it began to consolidate the weekly increases of 13.64% and of 13.14% on its monthly chart.

At the same time, Ethereum has lost 1.17% in the last 24 hours, trading at the price of $1,672, but still up 8.97% compared to the previous seven days and 11.02% across the last month, as per the latest information retrieved on March 16.

Whether crypto manages to retain investors interest remains to be seen and will largely depend on the developing situation in the banking sector, in addition to the developments directly related to the cryptocurrency market and the wider macroeconomic landscape.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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Banking contagion sparks crypto frenzy: investors rush to 'HODL ... - Finbold - Finance in Bold

Ethereum Rises Above This Key Level; Immutable Emerges As Top Gainer – Benzinga

March 17, 2023 11:35 AM | 1 min read

Bitcoin (CRYPTO: BTC) traded higher, with the cryptocurrency prices trading belaboveow the key $26,000 level on Friday.

Ethereum (CRYPTO: ETH) also moved higher, trading above the $1,700 mark this morning.

The University of Michigan consumer sentiment fell to 63.4 in March from 67 in the previous month.

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Immutable (CRYPTO: IMX) was the top gainer over the prior 24 hours, while Kava (CRYPTO: KAVA) turned out to be the biggest loser.

At the time of writing, the global crypto market cap rose to $1.13 trillion, recording a 24-hour gain of 4.2%. BTC was trading higher by 6% at $26,374, while ETH rose by around 3.2% to $1,714 on Friday.

Here are the top ten crypto gainers and losers over the past 24 hours:

Price: $1.4024-hour gain: 18.1%

Price: $1.0524-hour gain: 14.6%

Price: $0.328424-hour gain: 13.6%

Price: $0.226824-hour gain: 11.1%

Price: $0.446124-hour gain: 9.6%

Price: $0.99524-hour drop: 2.6%

Price: $0.151524-hour drop: 2.1%

Price: $711.6124-hour drop: 2.1%

Price: $4.1824-hour drop: 1.9%

Price: $2.3924-hour drop: 1.9%

Read This Next: Allbirds And 3 Other Stocks Under $2 Insiders Are Aggressively Buying

2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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Ethereum Rises Above This Key Level; Immutable Emerges As Top Gainer - Benzinga

Why Bitcoin- And Ethereum-Related Stock MicroStrategy Is Seeing Blue Skies – MicroStrategy (NASDAQ:MSTR) – Benzinga

March 17, 2023 12:28 PM | 1 min read

MicroStrategy Inc (NASDAQ:MSTR) shares are trading higher by some 7.54% to $259.26 during Friday's session.Shares of crypto-related stocks are trading higher amid recent, marked strength in cryptocurrencies.

For the unitiated, MSTR is a provider of enterprise analytics and mobility software.

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As part of the company's broader financial strategy,MicroStrategy owns roughly132,500 bitcoins as of FY22. Because of this, thestock often moves in sympathy with the price of Bitcoin and the crypto sector.

See Also:Why PacWest Bancorp (PACW) And Western Alliance (WAL) Stock Are Nosediving

According to data fromBenzinga Pro,MicroStrategy has a 52-week high of $522.80 and a 52-week low of $132.56.

2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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Why Bitcoin- And Ethereum-Related Stock MicroStrategy Is Seeing Blue Skies - MicroStrategy (NASDAQ:MSTR) - Benzinga

Bitcoin vs Ethereum Which is BETTER to hold for the Long Term? – CryptoTicker.io – Bitcoin Price, Ethereum Price & Crypto News

Bitcoin and Ethereum are two of the most well-known cryptocurrencies in the world. Although both are decentralized digital currencies, they have significant differences in their underlying technology and functionality. Which one is better to hold, Bitcoin or Ethereum? Lets get into a quick analysis of Bitcoin and Ethereum.

Bitcoin was the first cryptocurrency to be created in 2009 by an unknown person or group of people using the pseudonym Satoshi Nakamoto. It was designed to be a decentralized, peer-to-peer digital currency that could be used as an alternative to traditional fiat currencies. Bitcoin operates on a blockchain, a distributed ledger that records every transaction on the network. The blockchain is maintained by a network of nodes, which work together to verify transactions and prevent fraud.

On the other hand, Ethereum was created in 2015 by a programmer named Vitalik Buterin. Ethereum is not just a digital currency, but also a blockchain platform that enables developers to create decentralized applications (dApps) and smart contracts. Smart contracts are self-executing contracts with the terms of the agreement between buyer and seller being directly written into lines of code. Ethereums blockchain uses a cryptocurrency called Ether as its native token.

The primary difference between Bitcoin and Ethereum lies in their underlying technology and functionality. While Bitcoin is primarily used as a store of value or a means of exchange, Ethereums blockchain allows for the creation of decentralized applications and smart contracts. Ethereum is designed to be more flexible and scalable than Bitcoin, with a focus on providing a platform for developers to build upon.

In terms of market capitalization, Bitcoin is currently the largest cryptocurrency, with a market cap of over $1 trillion. Ethereum is the second-largest cryptocurrency, with a market cap of over $200 billion. Bitcoins price is largely driven by demand as an alternative store of value and investment asset, while Ethereums price is more influenced by the adoption of its platform for decentralized applications and smart contracts.

As for which cryptocurrency is projected to become better in the future, its difficult to say for certain. Both Bitcoin and Ethereum have their strengths and weaknesses, and their success largely depends on their adoption and use cases. However, many experts believe that Ethereums platform for decentralized applications and smart contracts has significant potential for disrupting industries and transforming the way we interact with technology. As such, Ethereum may have a more significant impact on the future of blockchain technology and decentralized applications.

While Bitcoin and Ethereum are both decentralized digital currencies, they have significant differences in their underlying technology and functionality. Bitcoin is primarily used as a store of value or a means of exchange, while Ethereums blockchain allows for the creation of decentralized applications and smart contracts. While both cryptocurrencies have their strengths and weaknesses, many experts believe that Ethereum has significant potential for disrupting industries and transforming the way we interact with technology.

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What is the Bitcoin price forecast for the next few weeks? Can Bitcoin price return to $35,000 soon?

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Bitcoin vs Ethereum Which is BETTER to hold for the Long Term? - CryptoTicker.io - Bitcoin Price, Ethereum Price & Crypto News

What is quantum cloud computing, and how does it work? – Cointelegraph

What is quantum cloud computing?

Quantum cloud computing makes quantum computing resources available to organizations, academics and other users through cloud technology.

Cloud-based quantum computers function at greater speeds, with higher computing power than conventional computers, because they employ the principles of quantum physics when solving complex computational problems.

Different types of quantum computers exist, such as quantum annealers, analog quantum simulators and universal quantum computers. Quantum annealers are considered the least powerful among quantum computers but work well to solve optimization problems. Analog quantum simulators, on the other hand, are powerful systems that can solve physics and biochemistry problems.

Universal quantum computers are the most powerful and widely used type of quantum computer. They are also the most difficult to build. Universal computing can potentially access up to 1 million qubits (basic units of quantum information). However, the current technology can only access around 100 to 400 qubits.

How is all of this relevant to blockchain technology? Because quantum computing is incredibly powerful, it has understandably raised concern in the blockchain community, as it could potentially be used to the detriment of blockchain technology as we know it today.

First, quantum computing can hypothetically be used to gain an unfair advantage over other proof-of-work (PoW) miners and possibly dominate blockchain mining. This places decentralized PoW networks such as Bitcoin (BTC) and Litecoin (LTC) under the threat of centralization.

Second, quantum computing can also theoretically decrypt encryption codes used by blockchains. This means that quantum computing could enable an attack on a blockchain network using cryptography. However, its not all doom and gloom for cryptographic systems, as quantum cloud computing may also offer an effective solution for protecting and strengthening blockchains from quantum attacks.

Quantum cloud computing employs quantum principles to distributed computing, while cloud computing uses remote servers to provide distributed computing services.

Cloud computing simply refers to providing services such as data storage, servers, databases and networking via the internet. Instead of storing data on physical servers onsite, for example, an organization can opt for cloud storage services to cut hardware maintenance and other costs.

Quantum cloud computing, on the other hand, derives from quantum computing a form of computing that uses quantum mechanics principles to solve complex problems. It provides quantum computers for users to access quantum-enabled services and solutions through the cloud.

Companies using cloud computing, such as Google, Amazon, IBM and Microsoft, are also at the forefront of developing quantum computers to refine computing technology and enable more users to access quantum computers through the cloud. IBMs Osprey quantum computer, for example, features 433 qubits. The company reportedly plans to scale up to 4,000 qubits by 2025.

Related: Cryptocurrency vs. quantum computing: A deep dive into the future of cryptocurrencies

Akin to platform-as-a-service solutions, quantum cloud computing services work by connecting users directly to quantum processors, emulators and simulators.

Physical quantum computers are very complex, making cloud-based access an ideal setup for those needing to harness the power of quantum computing without purchasing their own machine.

According to IBM, its quantum hardware systems are roughly the size of an average car mainly comprised of cooling systems to ensure that the superconducting processor remains at the ultra-cold ideal operating temperature.

Quantum hardware systems consist of superfluids that work to super-cool the system; superconductors, which form a Josephson junction to carry charges through quantum tunneling; and qubits facilitating behavior control and information relay.

Qubits can perform an important function called superposition, which allows them to place the quantum information they hold in a state of superposition or a combination of all the possible configurations of the qubits. This phenomenon allows for the creation of multidimensional computational spaces, facilitating the solution of complex problems.

Another thing that bears understanding when talking about quantum computing is the concept of entanglement a quantum mechanical effect. Entanglement refers to correlations between the behavior of two separate things. In the context of quantum entanglement, as qubits become entangled, they cause changes to other qubits, allowing the system to find solutions faster than conventional computers.

Contrary to the widespread but mistaken belief that quantum computing can solve complex problems by trying every possible configuration to a problem in parallel, quantum computers leverage qubit entanglement to explore probabilities. Then, they carry out an algorithm to increase the chances of coming up with the best possible answer.

Quantum computing can potentially solve previously intractable problems in various fields, such as economics, drug design and development, finance, logistics, and more.

For example, large-scale quantum cloud computing platforms can be used to solve problems related to optimization in logistics and scheduling of resources in a business context. In healthcare, quantum cloud computing can potentially analyze large volumes of patient data to find the most effective treatments for specific illnesses.

Moreover, in the cybersecurity field, quantum computers can use their enhanced computing power to help combat cybercrime and data breaches. The benefits of quantum cloud computing are plenty. One significant benefit is that it allows organizations to access the power of quantum computing without purchasing their own machine and cooling systems.

It also allows quantum researchers, such as quantum physics students and scholars, to understand quantum principles better, and perform experiments without physically needing to access a quantum computer.

Among the current applications of quantum cloud computing are those related to quantum algorithm testing.

Specifically, quantum algorithms are created on conventional computers and tested on quantum computers to ensure viability. Because of the high technical cost and barriers to entry involved with quantum computing, cloud quantum computing allows businesses and researchers to leverage the technology to explore various quantum computing applications.

Quantum computing is still in its early days in terms of development and implementation, so adoption is still low. However, making the technology available through distributed cloud computing is a game-changer that opens the doors to many potential applications in the future.

Experts project that implementing cloud-based quantum computing might be more challenging than artificial intelligence, which has boomed considerably over the past decade.

This challenge is partly due to the complex technical requirements of quantum computers. Because quantum hardware systems require extremely cold operating conditions, cloud providers will need to construct dedicated spaces for quantum computers. The data centers in existence today are ill-equipped for this purpose.

Furthermore, quantum computing and its related software are still in their early stages of development and implementation, so the overall industry is still considered nascent. Programmers will also need to acquire new arithmetic and logic skills, as typical digital programming approaches differ vastly from the ones required for quantum computing.

That said, experts remain optimistic about the potential of cloud quantum computing, believing that it can provide significant benefits for various industries such as finance, logistics, healthcare and technology.

As the technology evolves, it is still highly likely that cloud-based quantum computing will be widely available in the near future, making it easier and more cost-efficient for businesses to access this powerful technology.

Cloud companies will likely be the first quantum-as-a-service providers, as the service will simply expand current offerings. If deployed and marketed effectively, quantum cloud computing may be as pervasive as artificial intelligence and machine learning implementations.

Related: 10 emerging technologies in computer science that will shape the future

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What is quantum cloud computing, and how does it work? - Cointelegraph