US Bitcoin miners expanding operations despite price volatility
Some BTC miners in the U.S. expect to double their capacity through 2022 while other global operations have been selling BTC to secure cash reserves.
Some BTC miners in the U.S. expect to double their capacity through 2022 while other global operations have been selling BTC to secure cash reserves.
The U.S. Secret Service has launched a cryptocurrency awareness hub. The new platform “will feature the latest in the agency’s work combating illicit use of digital assets as well as provide public awareness information on digital asset security and how to ensure it remains secure.” Secret Service’s Crypto Awareness Hub The U.S. Secret Service announced […]
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This is a follow-up to https://np.reddit.com/r/CryptoCurrency/comments/szv6oc/evidence_that_charlesiohk_was_involved_in/ In that post, I gave a list of about 150 addresses that connected IOHK's wallet to the billion ADA unstaked wallet involved in the SundaeSwap front-running. Naturally, I was accused of FUD, saying that I made it up and that there was no way someone could track that accurately.…
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FTX gives $25 to every Ukrainian on the platform FTX, a major cryptocurrency exchange, announced on the 25th that it would give away $25 to Ukrainian users of the platform. The move follows Russia's invasion of Ukraine, which announced a "special military operation" on the 24th. FTX CEO Sam Bankman-Fried (commonly known as SBF) commented,…
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Everyone should be aware that 4gb cards won't be able to mine RVN coin when the dag file will grow bigger than 4gb (I think it is due for this summer). In preparation for the event, I searched what to do with my 4gb card. Flux may be an option but I also found some…
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Welcome to the Daily Discussion. 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, and could…
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Despite the crypto market’s bloodshed, in the past few days, the Cardano (ADA) trading activity has been relentless, and its holders’ balance remains strong with a multi-year high. Into The Block data indicates that the wallet balance held by long-term Cardano holders hit a multi-year high on February 23. “Regardless of the price action, Cardano‘s holders remain strong. The balance held by HODLERS- addresses holding >1 year, is at a multi-year high. These HOLDERS increased their positions to 10.12b $ADA, the largest balance since December 11, 2019.” Despite the geopolitical tension causing the altcoin’s price to drop dramatically, traders have increased their position of Cardano. Holders have accumulated the highest balance of ADA since December 2019. Cardano’s network recent developments might be serving as fuel to its supporters, and as a consequence, many believe its price will climb. “Every bounce is still getting sold off, waiting for a final leg down before a reversal. Would consider buying this at 0.50,” an analyst noted. A Finder’s poll indicated several analysts believe the price of ADA will reach $58 by 2030, and a few thought it might close this year at $2.72, a 160% increase. Many traders received the $58 prediction as an exaggeration unless the Cardano ecosystem truly manages to explode during the following years. Expert Vanessa Harris was also bullish on the altcoin. She expects it to close 2022 around the $3 mark, adding that its criticized slow-paced growth could pay off as nations turn their eyes towards it: “It is one of the few smart contract platforms that have placed security, correctness [and] decentralization at their core, backed by formal methods and peer-reviewed research… While this means Cardano moves more deliberately in the short term, long term this resilience should support adoption by nation-states and non-governmental organizations. We are already seeing this adoption happen in Ethiopia and Tanzania.” However, other experts remained bearish and cited “lack of execution and poor technology” and alleged that “They have failed on their promise of delivery for the last several years.” But however slow, the expansion of its DeFi ecosystem is starting to happen and might support the loyal holders’ sentiment. Related Reading | Cardano Daily Transaction Volume Up, But ADA Prices Remain Sluggish Cardano DeFi Expansion Cardano volumes and transactions are growing as developers focus on building the first dApps solutions and its DeFi space is set to grow. It has even surpassed the on-chain activity of Ethereum ranking 2nd in 24h transaction volume after registering $17.04 billion on February 22. In terms of gaining traction, the decentralized exchange SundaeSwap, an Automated Market Maker DEX, was anticipated by many users and launched at the beginning of the year. It tumbled at the beginning due to congestion. But after some adjustments of the block size done by IOHK, the transactions run smoothly now and SundaeSwap reports a Total Value Locked of $21 million. The boom of NFTs is also contributing to the Cardano blockchain attraction. The non-custodial decentralized exchange ecosystem Arcadex will soon be launched on the network. It has generated enthusiasm for providing a wide variety of DeFi services through both DEX and NFT marketplaces. Despite the slow-paced growth and 6-month downtrend, Cardano is still gaining traction and holders are not letting go. More growth is expected as the Cardano roadmap aims to increase scalability. Related Reading | Bitrue Announces Support For Cardano (ADA) As Base Pair On Exchange Price Of ADA At the time of writing, Ada is down to $0.83, shedding around 0.72% over the past 24 hours.
Minutes after Russia announced a “special military operation” in Ukraine, effectively declaring war on the Eastern European country, Vitalik Buterin, a Russian-Canadian cofounder of the Ethethereum B blockchain, criticized Russian President Vladimir Putin on Twitter. Buterin Speaks Out Buterin said on Wednesday evening that he was “very upset” by Putin’s choice to start a war instead of finding a peaceful solution to Russia’s issue with Ukraine. Vitalik wrote in Russian on Twitter: “Very upset by Putin’s decision to abandon the possibility of a peaceful solution to the dispute with Ukraine and go to war instead. This is a crime against the Ukrainian and Russian people.” “I want to wish everyone security, although I know that there will be no security,” the Russian-Canadian crypto co-founder wrote, concluding his statement with “Glory to Ukraine”. Reminder: Ethereum is neutral, but I am not. — vitalik.eth (@VitalikButerin) February 24, 2022 On Wednesday evening, CNN reported a “constant stream of explosions” in multiple Ukrainian towns, including Kyiv, the country’s capital, and Kharkiv, the country’s second-largest city. “Subways are packed, streets are also, people [are gathering] with loved ones and [trying] to flee,” Oleksiy Sorokin, a correspondent for the Ukrainian outlet Kyiv Independent, tweeted. The Ukrainian State Air Traffic Services Enterprise declared on its website that Ukraine has also closed its airspace to civilian planes, citing the considerable threats to aviation safety in the current situation. Buterin has spoken out on a number of occasions about philosophy, geopolitics, and the use of blockchain technology for “public goods” such as scientific research, news dissemination, and the reduction of various hazards to humanity. Related Reading | Ruby on Rails Creator Backtracks As He Expresses Support For Crypto Crypto Market Tumbles Following Putin’s announcement, cryptocurrency prices plummeted. Bitcoin prices declined 3.8% to $35,031.86 on Thursday morning, while Ethereum prices plummeted 5.2 percent to $2,388.98. Over the past week, Bitcoin has dropped roughly 20%, while Ethereum has dropped 22%, undermining the premise that cryptocurrency values can withstand geopolitical crises that wreak havoc on traditional financial markets. Stablecoins such as USDT, BUSD, and USDC, on the other hand, saw their values rise somewhat on the day. Stablecoin trading volumes have been soaring as demand for safe haven assets has risen. ETH/USD trades at $2.5k. Source: TradingView Apart from the cryptocurrency sector, the stock market has also plummeted, while oil prices have risen. The Russian stock market has plummeted to its lowest point since 2016. The price of oil has climbed from $60 to above $100 per barrel. Geopolitical concerns are likely to persist for some time, putting downward pressure on these higher-correlation digital coins. As a result, investors should include heightened volatility in their calculations before considering Ethereum at this time. Related Reading | Crypto Winter or Not, Here’s Why Index Trading Can Help Spread the Risk Featured image from Unsplash, chart from TradingView.com