Month: January 2022

CasperLabs to become blockchain of choice for the City of Fuzhou, China

On Friday, CasperLabs, a blockchain software firm, announced a partnership with China’s Blockchain-based Service Network, or BSN. Through the agreement, which has been minted as a nonfungible token, or NFT, as a sign of commemoration, Casper Network will be added as the blockchain of choice to the Fuzhou City Chain for use in public and private crypto infrastructure developments in the region โ€” dubbed “Fuzhou Chain powered by Casper.”ย RockTree Capital, an investment company, based in New York, played a critical role in bridging the entente between Casper and Fuzhou City.…

Nations to adopt Bitcoin, crypto users to reach 1B by 2023: Report

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Thereโ€™s a beacon of hope for battered Bitcoin (BTC) bulls. A promising report from Crypto.com predicts that global crypto users could reach one billion by the end of 2022. The report reaches the conclusion that a combo of developing nations copying El Salvadorโ€™s orange-pilled example and a โ€œfriendlier stanceโ€ towards the crypto industry means that โ€œNations can no longer afford to ignore the growing push towards crypto by the public.โ€ Looking back on 2021, the global crypto population increased by 178% in 2021, rising from 106 million in January to…

The FED Just Crashed The Stock Market & Crypto (Here's Why)

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Iris Energy Secures 600MW Connection for Texas Bitcoin Mine

Australian crypto miner Iris Energy (IREN) secured a 600-megawatt connection for a new Texas crypto mining facility, the company said on Friday. The company said in a filing with the U.S. Securities and Exchange Commission (SEC) that it has executed a binding connection agreement with utility provider AEP Texas. Iris Energy paid $19 million for the security deposit and the connection fee, the filing said. The data centers in Texas are expected to be energized in Q1 2023, said the miner. Iris Energy has secured a 300 acre freehold site…

3 wildest theories explaining $500B crypto market crash

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The crypto market lost over $500 billion in combined market capitalization earlier Friday. The market bloodbath led to over $700 million in liquidation as top crypto assets bled heavily. Bitcoin (BTC) fell below the critical support level of $40 thousand while Ether (ETH) also lost $3 thousand support. At a time when crypto proponents are debating whether the crypto market has entered a bear phase, many wild theories flooded the internet to make sense of the crash. We will look at three such theories that many believe fueled the crypto…

Here are levels to watch as Bitcoin fights to avoid $30K July repeat

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Bitcoin (BTC) could well continue falling in the short term now that $40,000 support has disappeared, fresh analysis warns. In its latest market update on Friday, trading suite Decentrader analyst Filbfilb raised concerns that the dayโ€™s $290 million in liquidations was not enough to avert a fresh tumble. Next stop: $33,000 if leverage unwinds After reversing at $38,250 overnight, BTC/USD looked decidedly unhealthy at the time of writing, putting in fresh lows prior to the Wall Street open.ย  Cross-crypto liquidations passed $720 million on the day, but for Filbfilb, this…

New research expects a gloomy year for Bitcoin as DeFi and DAOs rise

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Another major player in the cryptocurrency world is forecasting a dismal year for Bitcoin (BTC) in 2022. Following the United States Federal Reserveโ€™s and other central banksโ€™ tightening of liquidity measures, Huobi Research believes that BTC will enter a bear market. On the brighter side, decentralized finance (DeFi) will continue to expand and adapt, with decentralized autonomous organization (DAO) governance eventually becoming a major driver of activity on the chain. Bitcoinย and Ether (ETH) prices plummeted on Thursday night on the cryptocurrency market, shedding about $150 billion from the market. Over…

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Merging NFTs, DeFi, and Gaming Into a Play-To-Earn Metaverse

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The race to set up the building blocks of the metaverse is on and many companies are hard at work establishing the worldโ€™s first open-source, decentralized virtual universe. This race has in part been galvanized by the rise of NFTs (Non-Fungible Tokens), whose values have shot up in price in direct correlation with rising cryptocurrency prices. One of the biggest initiatives out there currently working to establish a metaverse with a play-to-earn gaming model is the SIDUS HEROES project. This is a first-of-its-kind Web Graphics Library (WebGL) and massively multiplayer…

Turkish and Salvadoran presidents meet, Bitcoiners left disappointed

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Bitcoin (BTC) took more than just a beating in the markets. The orange coin got the cold shoulder as Turkish President Recep Tayyip ErdoฤŸan welcomed his Salvadoran peer Nayib Bukele in the capital of Turkey to talk about a number of topics. While Bitcoin failed to be a talking point, it did not stop the Twitter rumor mill from going into overdrive.ย  As part of the state visit, Bukele and ErdoฤŸan kicked off with an officialย ceremony. Shortly afterward, they inaugurated the new Salvadoran embassy before agreeing on six deals covering…