Day: January 10, 2022

CBDC wallet tops mobile app store charts in China

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The official digital yuan wallet app that was released as a pilot version to be used in select cities has still managed to top app store charts in its first week. Developed by the Digital Currency Research Institute of the People’s Bank of China (PBoC), the app became available for download on Chinese Android and Apple app stores last Tuesday. The app is still in an experimental phase and is only accessible to select individuals through authorized e-CNY service providers. While anyone in China could download the app, its usage…

Cryptocurrency Certificates Gain Popularity in Germany

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In Germany, innovative financial trading products are gaining popularity among young traders. In its recent report, Deutsche Borse Group revealed that cryptocurrency certificates topped the list of most traded products on the Frankfurt Certificate Exchange (FCE) in 2021. Last year, the trading volume related to crypto certificates jumped above €1 billion. Deutsche Borse expanded its crypto offerings significantly in 2021 and listed several new cryptocurrency products. In April 2021, Deutsche Borse enhanced its digital asset offering with the addition of Litecoin ETN. The exchange reported overall trading volumes of €18.4…

Avalanche, Polygon See Slight Gains as Crypto Markets Remain Flat

Major cryptocurrencies held support levels after last week’s drop to post slight gains on Monday morning after a largely flat weekend. Bitcoin (BTC) held on to its $41,000 support level after last week’s sell-off, which was led by the release of the minutes of the U.S. Federal Reserve’s December 2021 meeting. The minutes of the meeting suggested that the Fed will end its record asset-purchase program and will likely hike interest rates at a faster pace. Avalanche (AVAX) and Polygon (MATIC) rose 4% in the past 24 hours to post…

Major Mining Pools’ Bitcoin Hashrate Nears Recovery as Kazakhstan’s Internet Is Partially Restored

It’s hard to know how long the internet will continue to operate. The country’s internet has been restored several times over the past few days, but these moments are “brief and unpredictable, affecting different providers and regions at different times,” NetBlocks founder Alp Toker told CoinDesk. Beyond implications for human rights, the intermittent network “can’t reliably support cryptocurrency mining,” Toker said. Original Source BitcoinHashrateInternetKazakhstansMajorMiningNearsPartiallypoolsRecoveryRestored CryptoX Portal

Kazakhstan Is Stabilizing, Government Claims as Crypto Miners Look to Future in Country – Mining Bitcoin News

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The situation across Kazakhstan, hit by anti-government protests in the first week of the year, is normalizing, central authorities claim. The country’s massive crypto mining industry, which faced an internet blackout during civil unrest on top of power shortages, now hopes that the country will nevertheless remain an attractive location for miners. President Tokayev Has Nation Under Control After days of turmoil, the embattled administration of Kazakhstan’s President Kassym-Jomart Tokayev says it now has the country stabilized. Law enforcement agencies have retaken all administrative buildings that were attacked by protesters…

Bitfarms Bought $43.2M of Bitcoin in the First Week of January

Bitcoin mining firm Bitfarms purchased 1,000 bitcoins worth $43.2 million during the first week of January. The purchase increased the publicly traded firm’s BTC holdings by 30% to over 4,300, Bitfarms announced Monday. Toronto-based Bitfarms took the opportunity offered by the crypto market’s recent dip to accumulate bitcoin at “the lowest cost and in the fastest amount of time,” CEO Emiliano Grodski said in the statement. “With the dip in BTC while mining hardware prices remain high, we seized the opportunity to move cash into BTC,” he added. Bitfarms announced…

Bitcoin batters longs as liquidations copy May 2021 run to $30,000

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Bitcoin (BTC) has dealt significant pain to bulls in recent weeks, and now, fresh data shows just how much. In a tweet on Jan. 10, on-chain analytics firm Glassnode revealed that those longing BTC had suffered a rerun of last May, when BTC/USD began to fall toward $30,000. Long traders fail to “catch the knife” According to Glassnode’s Longs Liquidations Dominance metric, the “majority” of liquidations over the new year involved longs. This is unsurprising, given Bitcoin’s overall trajectory since late November, but the extent of losses puts the past…

Cardano Reaches Goal of Planting 1M Trees

Transactional data shows large amounts of cardano were bestowed towards the effort. One wallet exchanged 100,000 cardano for 100,000 tree tokens – worth over $118,000 at the time of writing – to become the biggest donor for the cause. Other large donors exchanged amounts ranging from 5000 cardano (≈$5,900 at press time) to 87500 cardano (≈$103,900 at press time). Source

Bitrue Launches New Yield Farming, How You Can Take Your Crypto Profits And Maximize Them

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Top crypto exchange Bitrue recently announced a new feature that will provide crypto investors with more opportunities to benefit from the growing industry. Bitrue’s new Yield Farming Hub will enable users to take their cryptocurrencies to generate more by using a similar mechanism to that of popular DeFi platforms. The crypto exchange will roll out its new feature with 20 pools that will let investors generate an astonishing 150% APR. These rewards will vary from pool to pool with some even generating more profits and letting users select their preferred…

Electric Car Owner Says His Hacked Tesla Model 3 Mined up to $800 a Month Mining Ethereum – Mining Bitcoin News

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According to the 2018 Tesla Model 3 owner, Siraj Raval, he mined up to $800 a month in crypto assets with his hacked-out electric car. Similarly, Chris Allessi, the owner of a Tesla Model S tethered a Bitmain Antminer S9 to his car’s electrical system to mine bitcoin, and he’s mined monero with the car’s internal computer as well. Tesla Owners Mining Bitcoin, Ethereum, and Monero This week, two Tesla owners explained how they rigged their cars to mine digital currencies. According to Siraj Raval, he connected graphics processing units…