On July 28, the bitcoin mining company Bitfarms announced the completion of the second phase of its facility expansion, by adding roughly 18 megawatts (MW) of capacity to the operation. The mining facility dubbed “The Bunker,” now has approximately 3.8 exahash per second (EH/s), after the 18 MW increase boosted the computational power by 200
Month: July 2022
Bitcoin (BTC) delivered a swift six-week high into July 29 as the aftermath of the latest macro developments boosted risk assets. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Monthly close could seal 20% gains Data from Cointelegraph Markets Pro and TradingView captured local highs of $24,445 for BTC/USD on Bitstamp, its best since the week beginning
The governance discussion intensifies as decentralized autonomous organizations (DAOs) become more popular in the blockchain space. The dilemma between giving power to a specific few and the freedom to voluntarily delegate decision power was highlighted in a Twitter thread created by Ethereum founder Vitalik Buterin. In a tweet, Buterin brought up an old adage pointing out
According to Senator Pat Tomey, famous for his vocal support for the crypto industry, the United States Securities and Exchange Commission (SEC) could have prevented the loss of $12 billion in assets by investors who trusted Celsius, a crypto lending platform, that froze their deposits in June. An official letter from Toomey to SEC Chairman
Lido DAO (LDO) price has skyrocketed by roughly 400% month-to-date to reach $2.22 on July 28, its highest level in over two months. LDO Mergified LDO price has benefited majorly due to its association with Ethereum, the leading smart contract platform by total-value-locked (TVL) and market capitalization. Notably, LDO serves as a governance token inside
Miami City Mayor has announced a new NFT venture in collaboration with Time magazine, MasterCard, and Salesforce The city will be launching 5000 ethereum NFTs designed and created by 56 local artists The venture is set to bolster local businesses and help them earn more revenue. Miami City mayor Francis X Suarez recently unveiled plans
In this week’s episode of Market Talks, we welcome the founder, chief investment officer and managing director of Morgan Creek Capital Management, Mark Yusko. Mark W. Yusko is an investor and hedge fund manager. He is the founder, chief investment officer and managing director of Morgan Creek Capital Management and also the Co-Founder & Partner
Bitcoin (BTC) price rallied toward $24,200 on July 28 after a near-10.5% surge that began a day earlier. The gains appeared after Federal Reserve Chairman Jerome Powell signaled intentions to slow down the Fed’s prevailing tightening spree. This prompted some Bitcoin analysts to predict short-term upside continuation, with pseudonymous analyst CryptoHamster seeing BTC at $26,000
Ether’s (ETH) 53% rally between July 13 and 18 gave bulls an edge in July’s $1.26 billion monthly options expiry. The move happened as Ethereum developers set a tentative date for the “Merge,” a transition out of the burdensome proof-of-work (PoW) mining mechanism. Ether USD price index, 12-hour chart. Source: TradingView According to some analysts,
Rishi Sunak, the former chancellor of the Exchequer, and Liz Truss, Secretary of State for Foreign, Commonwealth and Development Affairs, two of the final candidates to become the next prime minister for the United Kingdom, have both previously expressed pro-crypto views. With Prime Minister Boris Johnson soon to be out of office, Sunak and Truss
A director with the International Monetary Fund (IMF) has warned of further selloffs in both crypto assets and equities. He further warned that more crypto tokens could fail. IMF Foresees More Crypto Selling Pressure Tobias Adrian, director of Monetary and Capital Markets for the International Monetary Fund (IMF), warned about further selling pressure in the
Bitcoin’s (BTC) price has been stuck in a descending channel since July 20 and it is currently heading toward the $20,000 support by the end of July. Adding to this bearish price action, BTC is down 50% year-to-date, while U.S. listed tech stocks, as measured by the Nasdaq-100 index, accumulated a 24% loss. Bitcoin USD
Economics is the study of human behavior involving scarce resources — and the effects those behaviors have on those resources, explains Roderick McKinley. Tokenomics in crypto is a related but different field. Tokens are a way for projects to raise funds and build communities, and designing the way they work can be much more complex
Bitcoin (BTC) regained more lost ground on the July 28 Wall Street open amid confusion over whether the United States had entered a new recession. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Analysts call recession for United States on GDP print Data from Cointelegraph Markets Pro and TradingView tracked BTC/USD as it tested $23,000 for support
Sympathizers of the terror group, the Islamic State (IS) are allegedly using South Africa’s financial system to channel funds to the group’s affiliates and networks in Africa. The United States government has so far sanctioned four South Africa-based individuals it accused of facilitating the transfer of funds to African terror groups. Millions of Dollars Laundered
Three Arrow Capital (3AC), a Singapore-based crypto hedge fund that at one point managed over $10 billion worth of assets, became one of the many crypto firms that went bankrupt in this bear market. However, the fall of 3AC wasn’t purely a market-driven phenomenon. As more information surfaced, the collapse looked more like a self-inflicted
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