What we will talk about today...

Bitcoin Mining Difficulty Set for Major Drop Amid $60K Price Watch

Bitcoin faces a significant mining difficulty adjustment, testing its stability above the $60,000 mark despite a current price of $60,781.

• BTC Price Stability: Bitcoin maintains its position above $60,000, with key support levels indicating strong market backing.

• Mining Difficulty Adjustment: A potential 5.5% decrease in mining difficulty could be the largest since 2022, signaling challenges for the network.

• Hash Rate Decline: The mining hash rate retreat underscores the difficulties faced by miners and the network’s robustness.

  

  Bitcoin network fundamentals overview

• BTC Price Support: The recent price drop to $56,500 was short-lived, with the 100-day SMA and STH-RP at $61,200 and $60,100, respectively, suggesting solid support.

  

Ethereum’s EIP 7702: A Quantum Leap in Security

Vitalik Buterin’s EIP 7702 proposes advanced security features for Ethereum, enhancing protection against quantum computing threats.

• Enhanced Security: EIP 7702 aims to fortify Ethereum’s defenses, surpassing the capabilities of the current EIP-3074.

• Smart Contract Wallets: The proposal introduces a new transaction type that transforms user accounts into smart contract wallets for improved efficiency.

• Quantum Resistance: EIP 7702 focuses on safeguarding Ethereum from quantum computing risks, ensuring long-term network security.

Macquarie Bank’s Digital Transition

Macquarie Bank is shifting to a digital-only banking model, discontinuing cash and cheque services.

• Cashless Operations: Macquarie Bank will stop cash and cheque transactions at branches, focusing on digital services.

• ATM Access: Customers can still withdraw cash via ATMs.

• Industry Trend: The bank’s move is part of a wider shift in Australian banking towards digital services.

CAN YOU PREDICT THE PRICE?

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Stay tuned for more twists and turns in the crypto world & Happy Investing🚀💎