Category: Cryptocurrency News

Cryptocurrency News and Public Mining Pools

Ravenminer cuda out of memory

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Bitcoin Funding Rate Remains Positive, More Decline Soon?

On-chain data shows the Bitcoin funding rate is still at a relatively high positive value, suggesting that the crypto might see more decline in the near term. Bitcoin Funding Rate Has Been At A Positive Value During The Last Few Days As pointed out by an analyst in a CryptoQuant post, the current funding rate suggests that the price is in a new decline right now. The “funding rate” is an indicator that measures the periodic fee that traders in the Bitcoin futures market have to pay each other. When the value of this metric is above zero, it means long traders are currently paying a premium to the short traders to keep their positions. Such values indicate that a bullish sentiment is more dominant in the market at the moment. Related Reading | On-Chain Data: Bitcoin Whales With 10k+ BTC Have Been Growing On the other hand, negative values of the indicator imply the majority sentiment is bearish right now as shorts are paying longs currently. Now, here is a chart that shows the trend in the Bitcoin funding rates over the last six months: The value of the metric seems to have been positive in the past week | Source: CryptoQuant As you can see in the above graph, whenever the Bitcoin funding rate has reached a relatively high positive value during the last few months, the price of the crypto has generally observed a decline not too long after. Similarly, negative spikes have resulted in the value of BTC seeing some uptrend. Here’s what’s going on here: high positive values mean longs are piling up in the market. So, a significant enough sudden decline can liquidate a lot of these, which can end up driving the price further down, and thus liquidating even more long positions. Such an event where liquidations cascade together is called a “squeeze” (or in this case, a long squeeze). Related Reading | Bitcoin NUPL Shows Average Holder Back In Profit, But For How Long? A few days back, when the price of the crypto was above $23k, the funding rate again made a positive peak and the price subsequently went down. However, the current value of the indicator still looks to be quite positive, which may mean the decline is still ongoing. BTC Price At the time of writing, Bitcoin’s price floats around $22.7k, up 6% in the last seven days. Over the past month, the crypto has gained 8% in value. The below chart shows the trend in the price of the coin over the last five days. Looks like the value of the crypto has been sliding down over the last few days | Source: BTCUSD on TradingView Featured image from Brent Jones on Unsplash.com, charts from TradingView.com, CryptoQuant.com

If banks offered the same low transfer fees as crypto, would you still invest in cryptocurrencies?

Lately, there's been a lot of conversation around why people get to invest in crypto. If you run an opinion poll to know why people are invested in cryptocurrencies, and you'd find a number of guys who would tell you they chose Aave for its use in money lending; Theta for its use in streaming;…
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Argentinian Government Excludes Crypto Investors From Buying Dollars

The Argentinian Central Bank has issued a new set of restrictions that are affecting citizens and companies that have purchased cryptocurrency to use it as a hedge against currency devaluation. The bank will only sell dollars at an official rate to individuals and companies that have not purchased crypto for at least 90 days prior […]

Sybil Attacks on Airdrops

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Vitalik Buterin Explains Steps In RoadMap of Ethereum Merge

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Let’s have a realistic debate about the highest price of BTC

Okay, I know it’s hard to have an actual realistic debate about the future price of BTC. But based off previous cycles, and economics, what do you think the highest price BTC will achieve is? I know a lot of Mooney predictions like 500k by 2023, over a mil by 2025 get tossed about. Logically,…
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Meta History Museum Raised Over $1,000,000, Releases New NFT Collection in Support of Ukraine

The META HISTORY project team created Ukraine’s first NFT war museum one month after Russia’s full-scale invasion. Since then they have managed to raise $1,290,398 (803.28 ETH) for the Aid For Ukraine crypto fund, created by the Ukrainian Ministry of Digital Transformation together with the Ukrainian crypto platform KUNA and the blockchain company Everstake, and […]

Elon Musk Selling or Buying Bitcoin Doesn’t Mean Much, Says Binance CEO

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