Day: January 10, 2022

Is The Bitcoin Hash Recovering From Kazakhstan’s Crisis? Fear Abides

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As the government of Kazakhstan claims the country’s power services are stabilizing, thus the Bitcoin hashrate could be on its way to recovery. However, is the situation stable enough for Bitcoin mining yet? Will it ever be? A Recap Just a few days after the Bitcoin hashrate reached an All-Time High, thus recovering from the China ban on crypto mining, another authoritarian crisis hit the bitcoin mining industry in Kazakhstan, taking the hash to drop 15% in 10 days. The country has been the second-largest bitcoin mining spot (after the…

Bitcoin Below $40K Before Regaining Ground; Altcoins Fall

“And if you do it right and for long enough, like Ethereum or Binance, you might become too deep-rooted to dispose of. In the current regulatory environment, it is the best chance for blockchain companies to succeed. We did it differently. We tried to do it “right.” And therefore, now, we have to close.” (Entrepreneur Zoe Adamovicz writing for CoinDesk on closing her most recent venture, Neufund) … “There is a white-knuckle fear on the Street around tech stocks. Tech stocks have been on a bull run, and now Fed…

Bitcoin Discount? Peter Brandt On Why You Shouldn’t Buy The Dip

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Bitcoin has been dropping consistently for the past week and the crypto market has lost over $500 billion following this dip. Like with any crash, there have been the expected calls of ‘buy the dip’ from investors who believe that the dips are only temporary and that the digital asset will soon recover all of its lost value. While this advice is sometimes sound, there is no doubt that there are some drawbacks with it, which could range from adding to a losing position that ends up losing more, to…

1,000 Bitcoin Added to Treasury as BTC Falls While Mining Hardware Prices Remain High – Mining Bitcoin News

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Global bitcoin mining company Bitfarms has bought the dip and added 1,000 bitcoins to its balance sheet while the prices of mining hardware remain high. The company’s corporate treasury now holds more than 4,300 bitcoins. Mining Company Buys the Dip Bitfarms Ltd. has taken advantage of the falling price of bitcoin. The publicly traded bitcoin mining company announced Monday that it has purchased 1,000 BTC for its treasury. The announcement details: During the first week of January 2022, Bitfarms purchased 1,000 BTC for US$43.2 million. This increased the BTC holdings…

Binance sponsors AFCON to further develop crypto adoption in Africa

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Monday marked the start of the TotalEnergies Africa Cup of Nations tournament — the largest men’s football championship series in Africa. At the same time, Binance announced its official partnership with the Confederation of African Football as well as its official sponsorship for the AFCON 2021 tournament, becoming the first crypto and blockchain sponsor for the event. Through this sponsorship, Binance will also be promoting CAF’s social media content which will include the Assist of the Day, Assist of the Week and Assist of the Tournament. This content will cover…

Bitcoin price bounces to $41.5K, but derivatives data shows traders lack confidence

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Bitcoin (BTC) briefly reached its lowest level in five months this Monday at $39,650, marking a 42.6% drawdown from the all-time high present on Nov 22, 2022. Some argue that a “crypto winter” has already begun citing the $2.1 billion leverage-long aggregate crypto futures contracts that were liquidated over the past seven days. Bitcoin/USD price at FTX. Source: TradingView The descending channel guiding Bitcoin’s negative performance for the past 63 days indicates that traders should expect sub-$40,000 prices by February. Confidence from investors continued to decline after the United States…

Associated Press Launching NFT Marketplace for Its Photographs

The Associated Press news agency is launching a non-fungible token (NFT) marketplace for collectors to purchase photographs taken during its 175-year history. The marketplace is being built by blockchain tech firm Xooa and the NFTs will be minted on the Polygon blockchain. The initial collection will be released over several weeks starting on Jan. 31, with subjects ranging from space, climate and war to spotlights on the work of specific AP photographers. Each NFT will include detailed metadata showing the time, date, location, equipment and technical settings used for the…

3x NBA champion Andre Iguodala becomes the latest athlete to receive salary in crypto

On Monday afternoon, Andre Iguodala, three-time NBA champion and the professional basketball player for the Golden State Warriors, announced via Twitter that he would be taking a portion of his estimated $2.647 million annual salary in Bitcoin (BTC). In addition, Iguodala added that he will give out $1 million worth in BTC to fans to increase the digital currency’s adoption. Payments were said to be facilitated by Block’s (formerly Square) Cash App. I’m excited to announce I’m taking part of my salary in BITCOIN w. Cash App! Bitcoin is the…

Direct Fiat On-Ramps Come to Algorand (ALGO) via Alchemy Pay (ACH) – Press release Bitcoin News

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press release PRESS RELEASE. Singapore, 10 January, 2022: Algorand (ALGO), the layer-1 blockchain for decentralized and traditional finance, has added direct fiat payment channels into their network, thanks to a new integration with Alchemy Pay (ACH). Alchemy Pay, is a payment solutions provider that connects fiat and crypto economies, and its global merchant network now supports Algorand’s $ALGO token for payments in 65 countries. Algorand also announced it has joined the Blockchain Infrastructure Alliance which was inaugurated in October by Alchemy Pay, NEO, NEAR, and Polygon. The integration with Alchemy…

Australia’s largest crypto exchange will sponsor tennis star Ajla Tomljanovic

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BTC Markets, the largest digital assets exchange in Australia, has announced it will be sponsoring professional tennis player Ajla Tomljanovic for the Australian Open and Sydney Tennis Classic tournaments taking place this month. In a Tuesday announcement, BTC Markets said it would be backing Tomljanovic as part of a partnership inspired in part by “increased investor activity from female investors in the last financial year.” Users from the crypto exchange will have the chance to win tickets to the tournaments and a meeting with the tennis star with a nonfungible…