January 31, 2022

Altcoins rack up 30% gains as Bitcoin price chases after $39,000

January 31, 2022 boss

The cryptocurrency market is in a state of confusion on Jan. 31 as many traders view Bitcoin’s (BTC) weakness as a sign that a crypto winter is beginning, yet increasing news of adoption and multi-million-dollar financing rounds continue to make headlines on a regular basis. As Bitcoin trades at $38,500, analysts are highlighting the current price action as a possible buy zone and this bullish sentiment is spilling into altcoins also. Top 7 coins with the highest 24-hour price change. Source: Cointelegraph Markets Pro Data from Cointelegraph Markets Pro and TradingView shows that the…

COVID restrictions stymie digital yuan rollout at Beijing Winter Olympics: Report

January 31, 2022 boss

Though athletes and support staff arriving for the Beijing 2022 Olympics still have the option of using digital currency for payments at many venues, the international test run of China’s CBDC is reportedly facing hurdles due to the pandemic. According to a Monday report from CNN, athletes, officials and journalists for the country’s Olympics games are largely separated from the population of China in a quarantine “bubble” to prevent the spread of COVID-19. These precautions combined with the Chinese government deciding to limit the number of in-person spectators may result…

Bitcoin Rises Above $38K Ahead of Seasonally Strong February

January 31, 2022 boss

“We see a short-term setup forming for a bounce, especially on a close back above $40K BTC and $3K ETH” in February, QCP Capital, a crypto trading firm, wrote in a Monday report. The firm also expects market expectations for a U.S. Federal Reserve rate hike to moderate over the next two months, which could benefit equities and cryptocurrencies. Original

Stablecoins Won Crypto Markets in January – With 0% Returns

January 31, 2022

Many of the biggest crypto assets were coming off impressive rallies in the fourth quarter, as bitcoin rose to its all-time-high price of almost $69,000 in November. In a sign of how volatile cryptocurrencies are, bitcoin has fallen by over 40% since then and was recently changing hands at around $38,500. Source

FTX Raises $400 Million in Series C Fundraise, Firm Reaches $32 Billion Valuation – Finance Bitcoin News

January 31, 2022 boss

Following the company’s subsidiary FTX US raising funds in its first Series A financing round, parent company FTX Trading Ltd. has announced it has secured $400 million in a Series C fundraise. The crypto company’s latest financing round brings the firm’s post-money valuation to $32 billion. FTX Series C Fundraise Brings Firm’s Valuation to $32 Billion FTX Trading Ltd. has raised $400 million in a Series C fundraising round according to an announcement on Monday. The fundraise follows the firm’s Series B at the end of July last year and…

Bitcoin mining network accounts for 0.08% of world’s CO2 production

January 31, 2022 boss

In a new report published by CoinShares on Monday, the firm estimated that the Bitcoin (BTC) mining network emitted 42 megatons, or Mt, (1Mt = 1 million tons) of carbon dioxide, or CO2, in 2021. In context, the number amounts to less than 0.08% of the world’s total emissions of 49,360 Mts of CO2 in the same year. CoinShares came to such figures using a variety of estimates regarding the efficiency of the Bitcoin network, its energy use, hardware, etc., on a global scale. As a result, it may not…

Unpacking Arizona's Bitcoin Legal Tender Proposal

January 31, 2022

This episode is sponsored by Nexo, Abra and FTX US. Download this episode On today’s episode, NLW looks at a proposal moving through Arizona’s Senate to make bitcoin legal tender. He explores: The specifics of the Arizona proposal The controversial author of the bill A pro-bitcoin battle in the Texas gubernatorial race Increasing partisan tension around bitcoin and crypto See also: Provision in House Bill Allowing Treasury Secretary to Block International Crypto Transactions to Be Removed “The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell, research…

How Does Bitcoin Mining Work? Explained in Three Difficulty Levels – Easy Beginner, Advanced, Expert

January 31, 2022

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io Bitcoin Mining can be extremely confusing. What is it, how does it work and what’s the purpose behind it? These are the questions we answer on three different difficulty levels. Building new blocks of understanding on each level. From beginner to advanced to the Bitcoin veteran. My German Bitcoin Videos: You can follow me on Twitter: Or Instagram: Further Sources: SHA256 creator: Calculating probabilities: What does it cost to mine a bitcoin?: Binance Academy, 51% Attack: Icon: Chapters: 0:00 – Introduction 0:36…

Coinbase Lists Solana-Based Project Tokens for First Time

January 31, 2022

Orca and Bonfida are decentralized exchanges for Solana-based assets, including wrapped tokens. Already in the green for the day, ORCA rallied within minutes of Coinbase’s announcement before giving much of the gains back by press time. FIDA dropped. Source

The Uber Rich Investors Are Picking This Altcoin Over Bitcoin

January 31, 2022 boss

For many years and likely many years to come, bitcoin has been the number 1 digital asset for investors, especially those looking to invest in the long-term. When big money started entering into the crypto space, bitcoin was the first stop before it diversified into other assets. However, as time as gone by and more altcoins are beginning to gain popularity, bitcoin is losing its hold as the number 1 choice for investors. A recent survey that featured respondents from the ultra-wealthy class showed that they did not favor bitcoin…