Category: Cryptocurrency News

Cryptocurrency News and Public Mining Pools

2200 ETH in just over 7 hours!

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Precious Metals Firm Kitco Launches Gold-Backed Tokens Built on Ethereum

On August 4, the precious metals firm Kitco Gold announced the launch of a gold-backed stablecoin which will leverage an audit process via Cohen & Company with monthly attestation reports. Kitco has partnered with Tradewind Markets, First Digital Trust, and Stably, an asset tokenization provider. The gold-backed ERC20 tokens called “kitco gold (KGLD)” “represent one […]

Bitcoin Miner Bitfarms Mined 391 BTC In July With 99% Clean Energy

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Bitcoin Price Drops 5% As 12k BTC Flow Into Binance

On-chain data shows that shortly after crypto exchange Binance observed Bitcoin inflow of around 12k BTC, price fell by almost 5%. Huge Bitcoin Inflow To Binance As pointed out by a CryptoQuant post, inflow of around 12k BTC was seen on Binance, the largest crypto exchange by market volume. The Bitcoin inflow is an indicator that shows the total amount of BTC transferred to a crypto exchange from a personal wallet. As investors usually send their crypto to exchange wallets for cashing out, altcoin purchasing, etc., the indicator’s value going up would imply there is some selling pressure in the market. A strong increase in the inflow metric can have direct effects on the price, which usually shows as a drop just a few hours later. Related Reading | Fear And Greed: Sentiment Turns Neutral As Bitcoin Stagnates, What To Do? Now, here is a chart that shows the trend in the value of the BTC inflow for Binance: The BTC inflow for Binance shot up earlier today | Source: CryptoQuant As the above graph shows, there was a sharp spike in the Bitcoin inflow for the crypto exchange Binance. This inflow’s value was around 12k BTC, worth around $470.6 million at the current rate. The chart also displays the curve for  BTC’s price. It looks like just a few hours after this spike occurred, the crypto dropped in value by about 5%. Related Reading | How A Hammer & The Golden Ratio Could Mean 6 More Months Of Bullish Bitcoin And it makes sense as movement of 12k BTC is quite significant, and a spike like this might mean there is some short-term selling pressure in the market. While this inflow was quite significant, another indicator, the Bitcoin all exchanges netflow, shows that there was outflow of about 19k BTC from all exchanges. This more than makes up for the inflow to Binance, hence the exchange reserve overall still looks to be down. After plummeting, the Bitcoin exchange reserve continues to be down | Source: CryptoQuant BTC Price At the time of writing, Bitcoin’s price floats around $k, down % in the last 7 days. Over the past month, the cryptocurrency has amassed % in gains. Below is a chart that shows the trend in the price of the coin over the last 6 months. BTC’s price zig-zags below the $40k resistance level | Source: BTCUSD on TradingView After enjoying a refreshing period of prolonged uptrend, Bitcoin’s price fell down after peaking at $42k. Now, it seems to be range bound below the $40k mark as the coin can’t seem to break it again. It’s unclear where the price will head from here. It could either continue to be stuck in this range bound environment below the $40k level, or perhaps it will have a breakthrough soon, and a bull run will ensue as hinted by the Bitcoin bullish crossover.

Story: I had 50k moons, but I sold it all for 10 cents, traded with shitcoins and I now end up with only $300.

Wall of text time. I know what you're thinking. The title sounds hilarious, but it's actually true. Back when Moons were a Rinkeby token with an xDai equivalent, when it peaked a few months back at around 15 cents, I decided to sell all of them. I turned all of them into BNB, and traded…
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Rx 470 8gb finding a block, when?

Hi, if I mine rvn solo with an rx 470 8gb which gets roughly 10mh on kawpow what are my chances realistically in finding a block how much would it improve if add 35 more mh/s to the equation, I know it's not quantifiable, but generally talking is worth it for me to go solo?…
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I was wrong about ETH

I have been telling anybody that would listen to me once the EIP Hard fork comes live the price of ETH would dip, significantly. Buy the rumour, sell the news I thought. I made my first (and last) foray into leveraged trading by shorting ETH with 10x leverage, needless to say I have been liquidated.…
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We’ve all heard of Dollar Cost Averaging. Here is the meth behind it.

Edit: Title should read math. Not meth. There is no meth behind this. Please don’t DCA on meth. Meth is bad. Since a lot of people still get this wrong, here’s how it works (don’t worry – the math behind it is as straightforward as it gets). Say you buy 100$ worth of ALGO at…
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Fresh Bitcoin ETF hopes back BTC’s swift rally above $40,000

Hopes of an eventual BTC ETF approval and a rebound off a key support level pushed Bitcoin price well above the $40,000 level, but can the bulls sustain the current volume?