Category: Cryptocurrency News

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DBS, the largest bank in Southeast Asia, is planning to launch crypto trading for retail investors this year, the bank’s CEO has revealed. He added that in the first half of this year, DBS will focus on making “access to digital assets a lot more convenient.” DBS Bank to Offer Crypto Trading to Retail Customers […]

So okay okay…the title of this post is mostly a joke. So a couple months ago I minted an NFT for like $150. lets see some of the fees that went into this. Going to approximate since I dont remember them exactly. Item sold for about 1ETH today $30 minting transaction fee $70 open sea…
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Ripple is one of the altcoins that has strived comparative well within the cryptocurrency space. The price-performance and the general trend in the protocol’s ecosystem have made this crypto one of the outstanding long-term and short-term investment choices. Currently, Ripple is ranked in the 6th position according to CoinMarketCap, as it boasts a market cap of over $40 billion. With the recent case of SEC and Ripple, several of the XRP community have some built-up tension over the possible action to expect. Related Reading | Bitcoin Hashrate Climbs To New High As Price Recovers Above $42,000 This is after the unsealing of three different documents set by the judge. However, John Deaton, the cryptocurrency lawyer representing more than 64,000 XRP holders, put forth some possibilities to calm the situation. First, he explained that SEC is likely to make two potential moves. From the new evidence, there’s an inclusion of the email thread and deposition notice of Brad Garlinghouse, Ripple CEO. Also, the evidence contains the line of Chris Larsen, a Ripple executive. According to Deaton’s suggestion, substantially proving the link between Ripple’s public announcements and XRP price would be a near impossibility. Moreover, he mentioned that the SEC would have to confirm the sale of XRP tokens by Garlinghouse and Larsen in the U.S. Furthermore, the lawyer was contemplating if SEC could lay claim of Ripple creating a secondary market for XRP. This could be their alternative approach once they fail to establish that the two Ripple executives are selling XRP in the U.S. Deaton is yet to access the unsealed document despite his having the amicus counsel status in the case. Ripple (XRP) Price Hikes, Aims To Touch $0.90 The price of XRP is finally skyrocketing, as shown on the 4-hour chart. Its upward trend indicates a prime surge, as its target is to hit $0.90. However, the crypto may have to face a little tussle in striving to achieve its target. But through its move, the XRP price is likely to encounter a great challenge while soaring above the $0.90 level. This is mainly due to the resistant bridge from the Momentum Reversal Indicator (MRI) as the 78.6% Fibonacci retracement level. Related Reading | These Two Altcoins Are Ready For Major Pullback, Says Crypto Analyst Once there’s an increase in the buying orders, the bullish trend of the XRP price will likely get to a new high. But where the selling demands increase, the XRP price may have to dwindle and hit its Simple Moving Average (SMA) of $0.69. Featured image from Pixabay, chart from TradingView.com

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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Bitcoin mining stocks have drastically collapsed since November following the effect of the hashrate’s 23% growth and bitcoin’s downtrend on the miner’s rewards. Mining Stocks Sharp Decline Arcane Research data shows that the largest bitcoin mining stocks have collapsed since November after being caught up in the market’s volatility.  The miner giant Marathon Digital Holdings’ (MARA) stock first plummeted on November 9th falling from over $81 to $79, followed by more dramatic drops and little upward movement. MARA is at $28,63 at the time of writing, a 66% drop since November. The other large miner Riot Blockchain (RIOT) has gone from its November high of $45,97 to $19,73 at the time of writing, a 55% drop. Meanwhile, Core Scientific (CORZ) plummeted from $14,5 in November to a low of $6,99 mid-January but recovered over 70% of its value in February now trading at $10,54 with a positive response from investors to production and operations updates. Related Reading | Intel Announces Mining Chips’ First Clients: BLOCK, Argo Blockchain, and GRIID On the other hand, following bitcoin’s slight recovery in January, MARA saw an increase of 33%, and RIOT jumped 34% from its low points. The Arcane Report notes a possible underestimation of the bitcoin mining industry back in November. Investors might have overseen how the industry’s new capacity would make it more competitive. This factor plus the miners decreased profits and bitcoin’s downtrend are likely behind the mining stocks’ big drop. “This massive decline should have taught bitcoin mining investors that the high beta behavior of bitcoin mining stocks is a double-edged sword.” Low Mining Profits The bitcoin miner’s rewards took a hit as the price of the coin declined since its November $69k All-Time High, which reflected in the mining stocks downtrend. Miners increased capacity last year as the dropping hashrate that followed China’s ban on crypto mining promised high profits for the activity. However, the increase of the capacity came online later in the year, thus the rising hashrate levels did not follow bitcoin’s price, as usual, rather they met the coin at its fall. Consequently, it was not only the decrease of bitcoin’s price that lowered miners’ profits but also the contrasting rising hashrate, which led to more competitiveness and an increase in mining difficulty. Mining stocks have seen slight recoveries as bitcoin shows a short-term upward trend. However, if another bull market does not meet with the coin soon, mining stocks are likely to keep slumping. Furthermore, Arcane Research data estimated the cash flow of mining one bitcoin for Antminer S9 –often described as the most powerful miner in the market with 13.5TH/s, but demands more power than s19 to mine the same amount of BTC– and Antminer S19 –which can reach 110 TH/s hashrate–. Vulnerable to the digital coin’s volatility, S9 cash flow dropped 60% since November 9th and S19’s decreased 41%. Related Reading | Environmental Debate: New York Crypto Mining Plant Permit Delayed Bitcoin Price Bitcoin continues to recover showing 4.2% gains over the last 24-hour. The digital coin is 3% up over the last month.

The winning decision was sent directly to the Property Manager to carry out. This is real NFT, real blockchain stuff. Tokens still available for this particular house btw. https://www.lofty.ai/property_deal/3435-3437-Alberta-St_Saint-Louis-MO-63118 https://twitter.com/lofty_ai/status/1493687395937517569 This is a whole fully functioning system that has been in place for almost a year now with dozens of US homes fractionalized and sold…
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Bitcoin has maintained dominance over altcoins like Ethereum and others for the longest time. This dominance, although has declined over time, still helps the digital asset maintain its title as the most valuable cryptocurrency in the space. However, in only a matter of years, bitcoin’s dominance on the market has declined by half, and according to FTX US President Brett Harrison, the encroachment is far from over. Bitcoin To Lose More Market Share To Altcoins In a recent interview on CNBC’s Squawk Box, FTX.US president Brett Harrison shares his thoughts around the market, most notably the market dominance of bitcoin in relation to altcoin. The dominance of the pioneer cryptocurrency has been a slow but steady downtrend that has seen bitcoin’s dominance ridden down to as low as 40% and Harrison expects this to continue. Related Reading | Bitcoin Hashrate Climbs To New High As Price Recovers Above $42,000 The President told Squawk Box that other digital assets like Ethereum and Solana will continue to take up more market share from the asset. And over time, Harrison explained, the percentage of market share that is controlled by a single asset, in this case, BTC, will continue to wane. “Assets like Ether, other alternative proof-of-stake assets like Solana, and these other alternative coins are all picking up in terms of market cap,” said Harrison. “Over time, we are going to see less and less of the total market share come from just one asset, Bitcoin alone.” With this current trend, the market is expected to see more decline in BTC’s dominance over the market. This does not mean that the digital asset becomes less important, but as investors turn to altcoins for better opportunities, BTC will find itself commanding less and less of the market share. BTC’s Dominance Over Time Like anything in the crypto space, bitcoin’s dominance in the market has fluctuated widely. However, one thing remains constant and that is the fact that altcoins continue to eat into this market share. Related Reading | These Two Altcoins Are Ready For Major Pullback, Says Crypto Analyst Only five years ago, before the likes of Ethereum and Cardano grew into their own, Bitcoin maintained the vast majority of the market share. In February 2017, the market share commanded by the digital asset was 96%. Five years later, it has lost half of this dominance to be sitting at 43.08% as of the time of this writing. BTC dominance declines to 43% | Source: Market Cap BTC Dominance on TradingView.com Over the years, the decline has been very obvious. By 2018, only one year after, bitcoin managed to lose more than 50% of its dominance, seeing it touch its lowest point of 35%. It has since recovered more market share since this time, but trends point towards further downside as blockchains like Ethereum and Solana steal more market share with DeFi and NFT capabilities. Featured image from Banking Exchange, chart from TradingView.com