The mining difficulty tied to the Bitcoin network increased for the first time in 57 days, rising 1.74% higher than the last two weeks. Meanwhile, Bitcoin’s hashrate has been below average as the network’s computational power is down 1.7% lower in the second quarter than in Q1 2022. After reaching 292 exahash per second (EH/s) …
Monthly archives: August 2022
Bitcoin Maximalism: Michael Saylor, MicroStrategy’s CEO, Quits to Focus on BTC
Michael Saylor, an American businessman, and entrepreneur who is one of the most well-known supporters of Bitcoin in corporate America, resigned as CEO of MicroStrategy (MSTR). They assumed the additional role of executive chairman. This action was taken to allow him to focus more on the company’s Bitcoin investment strategy. He started the company in …
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Magic Eden, a Solana NFT Marketplace, has Expanded to Ethereum
Magic Eden (decentralized NFT buying and selling platform), the leading Solana NFT marketplace, has stated that it intends to offer multichain solutions for NFT creators. Moreover, it also intends to support its collectors and has already introduced a number of tools to that end. According to a press release, Solana’s (SOL) premier NFT marketplace Magic …
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Macro Analyst Lyn Alden Says Bitcoin (BTC) on Track to Becoming a Medium of Exchange – Here’s Why
Macro strategist Lyn Alden believes that it’s only a matter of time before the volatility of Bitcoin (BTC) falls thereby enabling it to be a practical medium of exchange. Alden says in a What Bitcoin Did podcast that currently, however, the flagship crypto asset fails as an “ideal medium of exchange.” “In the really early …
ApeCoin Deal With Fashion Giant Gucci Boosts Bored Ape Yacht Club Token APE
The price of the Bored Ape Yacht Club (BAYC)-affiliated crypto asset ApeCoin (APE) is going bananas as Gucci announces that it now accepts APE as payment for in-store purchases. Gucci is adding APE to its roster of supported digital coins following its decision in May to accept crypto payments as it ventures into the digital …
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Top Analyst Calls What’s Next for Bitcoin, Ethereum and the Rest of the Crypto Markets After a Mid-Week Slump
A widely followed crypto trader is charting out Bitcoin (BTC) and Ethereum (ETH) after BTC’s failed bid to reclaim $23,450. In the latest edition of his Cryptocademy newsletter, analyst Justin Bennett says BTC is teetering between support levels. “Bitcoin tried to reclaim $23,450 but failed. BTC also closed the day below $23,000, which could be problematic for …
Bitcoin (BTC) and Ethereum (ETH) To Be Policed by CFTC Under New US Senate Proposal: Report
The push to regulate cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH) forges ahead as a bipartisan bill has been submitted to the United States Senate. According to a new Wall Street Journal report, Michigan Democrat Debbie Stabenow who chairs the Senate Agriculture Committee is joining with Arkansas Republican John Boozman to empower the Commodity …
Crypto firms failed to deliver ‘promised benefits’ from lawmaker-backed incentives, says nonprofit
The Tech Transparency Project, or TTP, a research initiative of the United States-based nonprofit watchdog group Campaign for Accountability, has released a report claiming crypto firms “provided little in return” for state governments offering financial incentives. In a report released Thursday, the TTP said that many crypto firms based in certain U.S. states have “reaped …
Binance and Mastercard will launch prepaid crypto cards in Argentina
Major crypto exchange Binance has partnered with Mastercard to launch a prepaid card for the residents of Argentina. In a Thursday announcement, Binance said the card will allow its clients in Argentina to use Bitcoin (BTC), BNB and other cryptocurrencies to make purchases as well as ATM withdrawals in fiat wherever Mastercard is accepted — roughly …
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Insta-rally! FLOW token jumps 50% amid Instagram adoption euphoria
Flow (FLOW) logged its best daily performance on Aug.4 after becoming the latest blockchain to support Instagram’s nonfungible token (NFT) features. Insta-made FLOW rally Meta CEO Mark Zuckerberg announced on Aug. 4 that Instagram had expanded its NFT support to 100 more countries in Africa, the Asia-Pacific, the Middle East and the Americas. As a result, …
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BNB rallies 39% despite smart contract deposits dropping 28% — Should investors be worried?
Cryptocurrencies’ total market capitalization bounced from $860 billion on June 30 to the current $1.03 trillion, a 20.6% relief in five weeks. Ether (ETH) might have been the absolute leader among the largest smart contract chains, but BNB managed to gain 39% over that period. BNB (blue) vs. Ether (orange), AVAX (cyan), SOL (yellow). Source: TradingView …
How To Keep Your Bitcoins Safe: Store Them In A Digital Wallet
Ever since they launched, digital currencies have taken not only the technological world but also the financial world by storm. Bitcoin has gained a lot of popularity in the recent past. Especially since many known celebrities have endorsed Bitcoin and other cryptocurrencies. Adding to this fuel, after the pandemic, almost all conventional sources of investment …
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Everything You Need To Know About Cryptocurrency Storage
Here we take a close look at all the popular forms of cryptocurrency storage to help you decide the best storage style for your Bitcoin. Cryptocurrencies are nothing but digital currencies that have been created based on the technology of blockchain. Among all the popular forms of cryptocurrencies, Bitcoin is known to be the most …
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The Six Most Important Reasons for Bitcoins’ Popularity
Bitcoin, a digital currency managed by a decentralized network rather than a central bank, has since 2008 been the most popular cryptocurrency. Although earlier, many countries believed that Bitcoin trading was illegal, now you can find that in many countries, including El Salvador, are accepting Bitcoins. Below, we will discuss some factors that have contributed …
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Coinbase’s COIN Token Price Soars Past 35% After The Exchange Inks A Deal With Asset Management Firm BlackRock
Coinbase shares have soared past 35% after the exchange announced its newest partnership with asset management firm BlackRock At press time, Coinbase’s native token is up 17% sitting at $93.18 after touching an ATH of $105 earlier today. Earlier today Coinbase announced its newest partnership with one of the leading asset management firms BlackRock to …