Search results for bitcoin
New data confirm that many Bitcoin miners kept operating China even after ban
China still has the second-most mining hash rate even after the government's crackdown, according to a new study. The post New data confirm that many Bitcoin miners kept operating China even after ban appeared first on The Block.
Bitcoin Back Below $30K Level, Ethereum, Dogecoin In Red: Why Analyst Thinks Apex Coin Is In A 'Fight For Its Life'
Bitcoin traded below the $30,000 mark, while Ethereum and Dogecoin were also weaker over the last 24 hours at press time on Monday evening, as the global cryptocurrency market cap declined 4.4% to $1.3 trillion. Price Performance Of Major Coins Coin 24-hour 7-day Price Bitcoin (CRYPTO: BTC) -4.1% -0.9% $29,898.70 Ethereum (CRYPTO: ETH) -5.1% -8.7% $2,027.14 Dogecoin (CRYPTO: DOGE) -4.45% -14.3% $0.09 Top 24-Hour Gainers (Data via CoinMarketCap) Cryptocurrency 24-Hour % Change (+/-) Price eCash (AR) +10.3% $0.000047 PAX Gold (PAXG) +0.9% $1,826.98 TrueUSD (TUSD) +0.05% $1 See Also: Best USDC Interest Rates Why It Matters: Cryptocurrencies continue to mirror stocks closely. At press time, the S&P 500 and Nasdaq futures were relatively flat after stocks ended Monday in the red. The dollar index was 0.08% lower at $104.1 at press time. The measure of the greenback’s strength against six of its peers has slipped from the $105 levels touched on Friday. On the current state of the dollar index, cryptocurrency trader Michaël van de Poppe said the “highs have been swept for liquidity.” The analyst tweeted that if the index lost 103.7 points, more downwards pressure could be seen and lead to risk-on assets getting a boost. If I look at the current state of the $DXY, I think we'll follow through with this scenario. Assuming we'll be seeing some corrective move, the highs have been swept for liquidity. Losing 103.7 points and I think we'll get more downwards pressure here -> risk-on assets up. pic.twitter.com/mRc5SW1nMk — Michaël van de Poppe (@CryptoMichNL) May 16, 2022 OANDA senior market analyst Edward Moya said that the retail and institutional world “still have massive wounds” from the recent collapse of Bitcoin prices. “Confidence is weak in the cryptoverse and until stablecoin concerns ease, Bitcoin is in the fight for its life,” said Moya, in a note, seen by Benzinga. Terra (LUNA) co-creator Do Kwon on Twitter proposed forking the Terra chain into a new chain without algorithmic stablecoins called Terra, with the ticker LUNA, and Terra Classic with the ticker LUNC. If Kwon’s proposal passes, the fork will be coordinated with the validators on May 27. 6/ The Terra chain as it currently exists should be forked into a new chain without algorithmic stablecoins called “Terra” (token Luna - $LUNA), and the old chain be called “Terra Classic” (token Luna Classic - $LUNC). Both chains will coexist. — Do Kwon (@stablekwon) May 16, 2022 Terra USD (UST), an algorithmic stablecoin backed by LUNA, lost its peg to the dollar last week, precipitating the crash in cryptocurrencies. Since then, LUNA has collapsed in value entirely after witnessing massive hyperinflation. Delphi Digital said that Bitcoin’s latest movement below the $30,000 mark puts its price nearly 60% off its all-time high. However, a big drawdown doesn’t mean “immediate reversal” is imminent. BTC-USD Returns After Previous > 55% Drawdowns From ATHs — Courtesy Delphi Digital “Looking back at historical instances where BTC’s price dropped more than 55% after putting in a new ATH, its average price performance over the following six months was relatively muted at best,” said the independent research firm in a note. Read Next: Vitalik Buterin Calls For Bank Deposit Insurance-Like Protection For Small Crypto Investors © 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.Benzinga•
FTX CEO: Bitcoin Is Neither A Payments, Nor A Scaling Network
CEO of cryptocurrency exchange FTX, Sam Bankman-Fried (SBF), recently said that Bitcoin has no future as either a payments network or a scaling network because of its inefficiency and high environmental costs. He compared the proof-of-work (PoW) system of validating blockchain transactions to proof-of-stake (PoS) blockchains, arguing that PoW is wasteful in nature, given it […] The post FTX CEO: Bitcoin Is Neither A Payments, Nor A Scaling Network appeared first on Vauld Insights.
What's Going On With Bitcoin- And Ethereum-Related Stock Greenidge Generation?
Greenidge Generation Holdings Inc (NASDAQ: GREE) shares are trading slightly lower by 0.93% at $8.52 during Thursday's after-hours session after the company reported first-quarter earnings results. Greenidge Generation reported quarterly losses of 1 cent. The company also reported $37.7 million in sales this quarter. This is a 241% increase over sales of $11.06 million in the same period last year. “Consistent with the estimates we released on April 21, Greenidge demonstrated another strong quarter of significant revenue growth and substantial Adjusted EBITDA generation,” said Jeff Kirt, CEO of Greenidge. “In addition to announcing our quarterly results today, we have begun reporting monthly operational statistics. Our April results were highlighted by production of 197 bitcoin from 1.6 EH/s of hash rate capacity as we continue to expand capacity at our South Carolina facility.” See Also: Why Spirit Airlines Shares Are Taking Off Today Greenidge Generation owns a vertically integrated bitcoin mining and power generation facility located in the Town of Torrey, New York. According to data from Benzinga Pro, Greenidge Generation has a 52-week high of $60 and a 52-week low of $4.31. © 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.Benzinga•
$1.2 Billion in Bitcoin Was Liquidated During Last Week's Crypto Crash
Terra's LUNA went to zero. Some Bitcoin traders also saw their accounts wiped out during last week’s market correction.
POLC #Mining is here and in a BIG way!⛏ Now in the Polka City #Metaverse , POLC Miner #NFT owners have the ability to passively and seamlessly mine POLC!🤩 #Bitcoin #PolkaDot #NFTdrop [polkacity.io] [twitter.com] [video.twimg.com]
POLC #Mining is here and in a BIG way!⛏ Now in the Polka City #Metaverse , POLC Miner #NFT owners have the ability to passively and seamlessly mine POLC!🤩 #Bitcoin #PolkaDot #NFTdrop https://www.polkacity.io/mining https://twitter.com/PolkaCity/status/1526300304945324032/video/1 https://video.twimg.com/ext_tw_video/1526299375592431617/pu/vid/1280x720/TEnOxxGAMJSB2buj.mp4?tag=12Polka City•
Former Meta Crypto Head Announces Bitcoin Payments Startup Lightspark
There are currently 3,807.15 BTC in the Lightning Network’s system. Some of the former Meta workers have joined him at
Bitcoin's Seventh Straight Week in the Red Sets New Record
The previous six-week record happened in 2014.
Bitcoin’s On-Chain Activity Shows Strength But There’s A Problem
On-chain data indicates that investors moved large amounts of BTC out of exchanges over the weekend. Miner-to-exchange flow volumes spiked significantly. After dropping below $26,000 on May 12, Bitcoin seemed to be making a recovery following a short-term consolidation since the end of last week. Even though the bullish momentum is mild at the moment, […] The post Bitcoin’s On-Chain Activity Shows Strength But There’s A Problem appeared first on Vauld Insights.
LFG Sells 99% Bitcoin Reserves, But Who Should Be Saved First – UST or LUNA?
Luna foundation empties its Bitcoin wallet, selling 99.7% of its BTC. The recovery proposal is divided between restoring UST’s peg versus helping LUNA holders. A trolley is going on a railway track. The track splits into two paths. One path is a single person, on the other are four people. Which way should the trolley […] The post LFG Sells 99% Bitcoin Reserves, But Who Should Be Saved First – UST or LUNA? appeared first on Vauld Insights.