Category: Cryptocurrency News

Cryptocurrency News and Public Mining Pools

Over $5 Billion In Bitcoin And Ethereum Moved From Cold Wallets Amid China Crackdown

China continued its crackdown on crypto, leading to massive amounts of bitcoin and Ethereum being moved from exchanges. Immense pressure from Chinese central banks following the latest iteration of the China crypto ban has seen exchanges suspending operations in the region. In light of this, large amounts of crypto are being moved from exchange wallets to presumably safer wallets. The transactions are thought to be going to cold wallet storage. Crypto crackdowns in the country caused a surge in USDT sell-offs against the Yuan as users tried to get rid of their crypto holdings before the ban takes full effect. The latest release by the Peoples Bank of China targets over-the-counter activities like those carried out on Huobi and OKEx exchanges and declared that changing fiat to crypto or crypto-to-crypto was now regarded as an illegal activity in the country. Related Reading | Billionaire Mike Novogratz Says He’s “Not Nervous” About Crypto Sell-Off $3.1 Billion in Bitcoin and $2.4 Billion In Ethereum Moved After Huobi announced it was going to retire Mainland China’s active user accounts, the exchange had begun to move funds. The exchange had moved a total of $3.1 billion worth of BTC on Sunday. The activity was flagged by btcparser which had flagged the initial transfer of 72,999 bitcoins being moved from Huobi’s wallets. Subsequent transfers were then made in 2,000 BTC increments. 1,800 bitcoins then went to a single address and the rest got split into small wallets. This strikes as odd but could possibly be the exchange moving the funds in the way they deem the safest. Huobi exchange moves 800K ETH | Source: Whale Alert Related Reading | JPMorgan Analysts Say That Big Money Are Dumping Bitcoin For Ethereum The Ethereum transfers took a different route. Wallets that had been flagged as belonging to the Huobi Exchange then began to move Ethereum into unknown wallets. By the time the transfers were done, 800K ETH had been transferred. A total of eight Ethereum transactions were made, each carrying 100K in ETH worth over $285 million on each transaction. Adding up to a total of $2.4 billion in ETH moved to unknown wallets. Exchanges Retiring Chinese User Accounts Exchanges, following the release of the latest ban, responded by explaining that they would begin retiring user accounts. The process was meant to happen gradually in order to ensure that users’ funds remained safe. Mainland China user accounts are scheduled to be retired on December 31, 2021, the last day of the year. This gives investors roughly three months to put their crypto affairs in order. But despite this long time frame, the rush to get rid of crypto holdings saw price quotes for USDT drop to as low as 6.12 Yuan per USDT. This is not the first time that China has banned crypto actives in the country. And every time one of these bans was announced, it has had a negative effect on the market and the latest ban has been no different. The announcement saw a crash in prices across the crypto market. Although the market has since recovered. While the effects of the crash linger on. ETH price down following crackdown | Source: ETHUSD on TradingView.com Featured image from DigitalTokens.io, chart from TradingView.com

SHIB, Safemoon and all the meme coins are going to produce eternal bagholders in the future

As someone who made the same mistake in 2017-2018. I'm going to be very honest all the HODLers of these meme coins are going to be very dissapointment when they're worthless a year or 2 from now. If you guys remember in 2017 bullrun there were many hyped tokens, some of them even did 100x…
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If as part of a DeFi course you’re asked to buy a token to practice, would you find it helpful ?

submitted by /u/Eru_Iluvatarh [link] [comments]

Trace Network Offers an Extremely Rare Brew as World’s First Craft Beer NFT

Trace Network Labs, which recently announced its foray into the world of NFT and Metaverse, is bringing its first among many Lifestyle items that can be carried to ANY metaverse. Trace has onboarded Vietnam’s award-winning 7 Bridges Brewing Company to launch limited-edition craft beer NFTs that will be metaverse-ready. Considered one of Asia’s most innovative craft breweries, 7 Bridges Brewing Company has created the iNFTy range of beer which will be limited to only 110 bottles. Out of these, 99 bottles of extremely rare Grand Cru beer will be tokenized and made available to those who own the NFTs. The remaining 11 bottles will be held as brewer’s reserve. The NFT Beer As a part of the collaboration, Trace Network will introduce 99 unique 3D object artworks created by 7 Bridges as NFTs, each representing a bottle of extremely rare beer brewed from a special recipe that will never be used again. Each NFT artwork representing a bottle of iNFTy Craft Beer is unique and numbered. The artworks capture the deeper meaning of its numeral, drawing inspiration from history, science, pop culture and mysticism. The corresponding bottle, represented by the NFT will feature the unique artwork label and be cellared in ideal conditions until physically claimed by the owner. Owning the NFT To own the treasured bottles of 7 Bridges iNFTy craft beer, users have to participate in the upcoming global auction on Trace Network’s Bling platform – a luxury and lifestyle NFT marketplace. The auction winners will not only become eligible to gain possession of the extremely rare beer and enjoy it but also carry them into any metaverse. They can also trade or transfer these NFTs like any other ERC token. Enabling an Experience Trace Network Lab’s partnership with 7 Bridges Brewing Company is the latest in a string of collaborations with premium lifestyle brands the platform has forged in recent days. Trace aims to enable the metaverse “residents” gain limitless experience in different virtual worlds by helping them use “wearable” and “consumable” luxury & lifestyle NFTs that are created by brands as a digitized version of their real-world products offerings. By enabling brands to create NFTs and cater to the metaverse users’ aspiration to own their products not only in the physical but also the virtual world, Trace Network has become the de-facto gateway between these two worlds for luxury and lifestyle products.  

Cryptocurrency Derivatives Exchange Bitget to Sponsor Juventus as Its First-Ever Sleeve Partner

Singapore-based cryptocurrency derivatives exchange Bitget announced a partnership with Juventus to become its sponsor. According to the agreement, Bitget will act as Juventus official partner and official cryptocurrency exchange partner, and also its first-ever sleeve partner. Established in 1897, Juventus is one of most time-honored and award-winning football clubs worldwide. It was the first club […]

Mining Pools Shutting Down in China: “This Is The Way” of ETH 2.0 Anyway, Right?

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A SafeMoon whale sold almost 2T token today sending the price everywhere else but the moon yet people in the sub still call it a buying opportunity

As shown in the picture a SafeMoon whale has just sold a huge amount of tokens which made the price go down by around 15 % continuing the downfall. https://preview.redd.it/b3xdchoer9q71.png?width=346&format=png&auto=webp&s=c5781ec2cdf412a2c325f7cffa4c3e326c10e454 However people in the sub don't really seem to have a issue with that and advice each other to HODL and buy even more… Why…
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Curve newsletter #47

Hi guys. If you don't already know it, this is the no-official newsletter about Curve Finance. If you don't have time to be 24-7 on Twitter. This is a good way to follow what is happening https://cryptouf.substack.com/p/whatup-on-curve-47 Cheers submitted by /u/cryptouf [link] [comments]

Crypto data platform Kaiko launches tick-level cryptocurrency order books

Kaiko, a cryptocurrency market data provider for institutional investors and enterprises., announced a major update to Kaiko Stream, a powerful live data distribution service designed for enterprises, with streaming tick-level order books and top of book data now available These new features enable clients to build trade and order book monitoring systems accessible through a…
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Who would’ve known Vitalik can also dance?

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