Category: Cryptocurrency News

The European Union is leading the way when it comes to global cryptocurrency regulations.

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Welcome to the Daily General Discussion thread. Please read the disclaimer and rules before participating.   Disclaimer: Consider all information posted here with several liberal heaps of salt, and always cross check any information you may read on this thread with known sources. Any trade information posted in this open thread may be highly misleading,…
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Blockchain Academy International’s Huxley Peckham says there are already 60 different industries using blockchain tech today.

Disclaimer: all documents & records here are public information available on the US PACER court system. Coffezilla will also be posting an upcoming video. This is probably the most explosive thing I've read about Safemoon, and for me the bar for John Karony was already low as hell, but somehow he's managed to scrape the…
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Uniswap (UNI) has led growth and gains among other top coins in the last 7 days. The price has been moving northward in the past week, with other top coins following suit. From the technicality outlook, the coin’s current support zone has been between 6.25 and 6.35, respectively. As of writing, CoinMarketCap has shown the token trading at $6.35, enjoying a 12.07% weekly gain in value.  Related Reading: Bitcoin 30-Day Long-Term Holder SOPR Is Yet To Hit Bottom Values The digital asset is one of the leading gainers as it has been able to break past its $6.00 support level. While it slipped below its mark during the week, it quickly bounced back, going up to $6.6 on Tuesday. Uniswap Price Analysis UNI was trading at $5.69 in the past week. The bulls have been constantly defeated at the resistant mark by other coins. Many believed that if Uniswap continued to witness fewer demands, it would lose most of Its gains. However, it surged in price in the last 24 hours and led to gains. If UNI eventually falls below the $6.29 level, it will be reduced to $6.00. This indicates the amount of bearishness it would be for the UNI. However, if it continues leading gains, trading will rise, and the buying strength will keep increasing. Moreover, the overhead resistance, for now, is at $6.29. Uniswap (UNI) Technical Analysis UNI has been increasing and decreasing in the trading rate due to the unstable value. This occurred as a result of the coin being unable to exceed the $6.00 resistance mark in the past week. At the time of writing, the relative strength has been slightly below the half line. This signals the increase in selling strength over the buying strength. It could also mean that sellers are driving the momentum of price in the market. The green signal bar indicates the buying signal for the coin. This could also imply that the UNI might make a comeback in price in the upcoming trading sessions with the increase. Where Is The Uniswap Token Heading? As of the moment, the data chart has indicated that hourly trading is at a low rate. If this continues, the price might change in the next few days to come. The level at which the price may stop falling or rising may be between $6.60 to $6.10. Unlike other tokens in the chain link, Uniswap seems to have its head high above. This period has been one filled with uncertainty and volatility for the token. It may seem like a rather odd development. This is due to the fact that it has been stuck on a strange decline in the past five weeks. Related Reading: Why VeChain Is Attractive At $0.02, Is VET Aiming For A Big Move? It is important to remember that the bull can easily increase the trading price to $7.00. However, the token may still be at the risk of falling below a price of $6.00. it’s best you stay on the lookout for the next pattern breakout. Featured image from Pixabay and chart from TradingView.com

Citadel CEO Ken Griffin says inflation may have peaked but a recession is coming. “We’re in a very uncertain time for investors,” the executive cautioned, adding that the Federal Reserve “is grappling with a level of inflation we haven’t seen in a long time.” Citadel’s Ken Griffin on U.S. Economy, Inflation, Recession, and Cryptocurrency Kenneth […]

Bitcoin public mining companies have been struggling along with the rest of the crypto market. With the decline in the price of bitcoin, these companies had seen their cash flow decline, driving come to the brink of bankruptcy. However, while it seemed like the losses that public BTC miners have incurred have happened in the bear market run, it goes back even father back. Bitcoin Miners Are Barely Profitable Public bitcoin miners, both large and small, had grown in popularity over the last year. Their stocks allowed investors to bet on the crypto market without having to buy any of the digital assets themselves. Thus, these public miners had seen millions of dollars in revenue. The problem comes from the ability of these companies to actually retain their earnings over their lifetime. Related Reading: Why Single-Digit Gains Is The Best Case Scenario For Bitcoin This September The retained earnings are how a company shows its total accumulated net income over its lifetime and looking at the financial statements of these public miners, they are less than encouraging. They shows that most public bitcoin miners have been unable to retain any of their net earnings since they were founded. An obvious problem with these miners have been how much of their earnings is being put towards administrative expenses. This report shows that compared to their counterparts in gold and oil & gas, bitcoin mines used an average of 50% of their earnings for administrative costs.  Public miners see in deficit | Source: Arcane Research Additionally, these companies had committed to extensive expansion plans during the bull market that has become harder to pull off in the bear market. This has translated to a steep decline in the retained earnings of most public miners. Are Any Mining Companies Profitable? Over time, there are some public bitcoin miners that have been able to go against the grain and have their retained earnings in the green even during these troubled times. One of those is the Argo Blockchain mining company. In a report by Arcane Research, Argo Blockchain is listed as the only public BTC miner with positive retained earnings of $26 million. The rest of the report paints a grim picture of the bitcoin mining industry. Related Reading: Is Short Bitcoin ETF Exposure Gearing Up For A Squeeze? Most of the companies had significant deficits of varying degrees throughout their lifetimes. The largest deficit was recorded by Core Scientific at $1.304 billion. The next in line is Riot Blockchain which had seen a significant deficit of $569 million over its lifetime. BTC holds above $19,000 | Source: BTCUSD on TradingView.com Others on the list included Marathon Digital, Hut 8, and Stronghold, with deficits of $357 million, $221 million, and $156 million, respectively. Two others, CleanSpark and Bitframs, came out with deficits of $154 million and $137 million. What this shows is that these companies are spending more money than they are making during this time. The numbers show that even during the bull market, when the cash flow for BTC mining machines was high, most of these companies continued to lose money. So investing in the stocks of these companies should be approached with caution and proper risk management.  Featured image from Blockchain News, charts from Arcane Research and TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet…

PRESS RELEASE. Arbswap, the Arbitrum-native automated market maker decentralized exchange, has seen significant progress over the past months. Following the migration of its contracts to the Arbitrum Nova network, Arbswap has recently launched the Nova Accelerator with support from Old Fashion Research, a multi-strategy blockchain investment fund. By establishing the Accelerator, Arbswap has set out […]