Day: December 29, 2021

Robinhood plans to launch beta crypto wallets in January as HOOD drops to $17

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Cryptocurrency and stock trading app Robinhood plans to roll out the beta version of its digital wallet feature starting in January 2022.  In a Wednesday blog post, Robinhood said tens of thousands of users currently on the waitlist for the trading app’s crypto wallet would have access to the beta version starting in mid-January. The trading app said more than 1.6 million people were waiting for the wallet, which will support depositing and withdrawing Bitcoin (BTC), Ether (ETH), Dogecoin (DOGE) and other tokens. The trading app has been testing its…

Why I Decided to Spend New Year’s Eve in the Metaverse

“The future of retail, hospitality, business and events will be a consistent experience in the real world and across all online platforms,” said Simon Koster, CEO of DCG Real Estate. “Your business card will list your physical address and your metaverse address, bringing a similar ethos to both. The metaverse location is a supplement for people who want to come to your real space, yet aren’t able to get there in person. It will feel akin to your physical space.” Source

Newly Minted Bitcoin Miner Gem Mining Reaches Hashrate of 1.25 EH/s

Gem Mining, a bitcoin mining company started recently by former U.S. Marine and 2018 candidate for South Carolina governor John Warren, reached hashrate capacity of 1.25 exahashes per second (EH/s) with 13,118 mining machines. The company is currently producing 6.5 bitcoins a day and has fully funded purchase orders for another 19,000 machines, expected to be online by the end of 2022. “The successful deployment of 13,000 active miners is a major milestone in the growth story of Gem Mining,” Warren, who is also CEO, said in a statement on…

New Year’s Eve Party Comes to the Metaverse as Times Square Building Owner Enters Decentraland

“The metaverse is an important part of the evolution of real estate and the built environment,” Jamestown President Michael Phillips said in a press release. “Whereas physical real estate is largely limited to people with geographic proximity, the metaverse can give people around the world meaningful access to places through immersive virtual experiences.” Source

Thetan Arena Battles Axie Infinity in ‘Play-to-Earn’

Thetan Arena, a new video game fueled by cryptocurrency, claims to have quickly amassed over twice as many users as Axie Infinity, the digital-asset darling that leapt to a dominant market position earlier this year in the “play-to-earn” sector. Some analysts are pointing to Thetan Arena as the “next Axie,” but others say the two play-to-earn games aren’t comparable. “Play-to-earn” refers to video games where players can earn cryptocurrency rewards and use those for in-game purchases or just to cash out. The e-sport multiplayer online battle arena (MOBA) game launched…

A fair comparison? Ethereum growth outpaces Bitcoin in 2021

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2021 has proven to be a fortuitous year for the world’s second-biggest cryptocurrency Ether (ETH), which has seen a fourfold increase in value over the past 12 months. In doing so, Ether has outperformed the appreciation of the preeminent Bitcoin and has gained an increased percentage of the overall cryptocurrency market by capitalization. While the wider cryptocurrency markets have enjoyed a year of relative gains, ETH’s increase in value has been in tandem with upgrades to Ethereum’s core protocol, laying down the final pillars for its transition to a proof-of-stake…

Bitcoin dips below $47K but one trader is eyeing ‘solid risk/reward’ for longing BTC now

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Bitcoin (BTC) added to its losses on Dec. 29 with a fresh tumble briefly taking BTC/USD below $46,600. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView RSI flashes “oversold” Data from Cointelegraph Markets Pro and TradingView showed the pair giving up ground prior to the Wall St. open to increase its 48-hour correction to 10.4%. The latest move in a familiar pattern of behavior, the market showed that the range in which Bitcoin has acted in December remains very much in play.  As market participants resigned themselves to a lackluster end…

Power Deficit Forces Crypto Miners to Leave Kazakhstan – Mining Bitcoin News

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Electricity shortages have been dogging Kazakhstan’s booming crypto mining industry this year. A media report reveals that some miners, including some of those that moved in amid China’s crackdown on the sector, are now looking to relocate to destinations with a more stable energy supply like the United States. Miners Shut Down Crypto Farms Due to Kazakhstan’s Issues With Power Generation Kazakhstan has become a crypto mining hotspot since China launched a government offensive against bitcoin miners in May. The Central Asian nation maintains capped electricity rates and is a…

Katherine Wu on What Gets Built Next in Crypto

This episode is sponsored by NYDIG. Download this episode On this episode of “The Breakdown’s” “End of Year Extravaganza,” NLW is joined by Katherine Wu. Katherine invests in early-stage crypto companies with Coinbase Ventures. Find our guest on Twitter: @katherineykwu See also: Market Wrap Year-End Review: Institutions Cash Out of Bitcoin “The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell, research by Scott Hill and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our holiday theme…