Day: March 7, 2022

BTC Consolidates, Following Turbulent Weekend of Trading – Market Updates Bitcoin News

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Recent declines in the world’s two largest cryptocurrencies eased to start the week, as both seemed to have found their respective floors. Bitcoin consolidated losses during Monday’s session, while ETH continued to trade sideways. Bitcoin Following a drop to a one-week low below $38,000 on Sunday, the price of bitcoin rebounded to start the week, as a support point seems to have finally been found. BTC/USD fell to an intraday low of $37,577 earlier in today’s session, which was its lowest point since February 28, however prices have since moved…

Core Scientific Plans to Increase Hashrate to 42 EH/s by Year End

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase…

Bitcoin Drops Below $39,000 As Crypto Markets Tank Over The Weekend

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Cryptocurrency markets were hit by a sudden fall over the weekend, with the global market cap dropping 3.80% in just 24 hours and now sitting at $1.73 trillion.  Bitcoin fell by 3.44% in the last 24 hours to $38,168 per coin. The second-largest token by market cap after bitcoin, Ether also showed in red by 4.8% decline.  It seems the USDC stable coin is doing better than its counterpart, as it only declined by 0.05 percent in value compared to last day’s movements while USDT saw no difference at all.…

Ethereum risks crashing under $2K as ETH paints bearish ‘symmetrical triangle’ — Analyst

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Ethereum’s native token, Ether (ETH), will likely fall below $2,000, according to one popular market analyst. Ether paints a classic bearish continuation setup Pseudonymous market analyst Wolf shared the downside outlook on March 7 as Ether’s price rebounded by over 3% to nearly $2,650, a day after testing its upward sloping trendline near $2,500. Ignoring the intraday upside reversal, Wolf anticipated Ether’s decline to continue further. ETH/USD daily price chart. Source: TradingView At the core of Wolf’s analogy was a “symmetrical triangle,” a classic technical analysis pattern that forms when the…

Pantera and Polychain Lead $10M Bet on Metaverse Fashionistas

“We are designing and launching fashion items as NFT collections, which is ongoing,” Space Runners CEO Deniz Özgür said in an interview. “But we are also launching the first phase of our fashion metaverse. Rather than just an urban cyber style, we are giving more weight to beauty and aesthetics, and we’ve been collaborating with some of the most popular fashion agencies in New York.” Source

Coinbase Blacklists Over 25,000 Crypto Addresses Tied to Russian Individuals and Entities – Regulation Bitcoin News

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The cryptocurrency exchange Coinbase has addressed the company’s procedures toward complying with sanctions in a blog post published on Sunday. The crypto firm says that respecting sanctions plays a “vital role in promoting national security” and the acts can help deter “unlawful aggression.” Coinbase Intends to Comply With International Sanctions, Chief Legal Officer Says ‘Digital Assets Have Properties That Naturally Deter Sanctions Evasion’ Following the statements of the two chief executives from two of the largest crypto exchanges on the planet, Coinbase has published a blog post concerning the company’s…

Bitcoin Creeps Toward $40K as Surging Oil Prices Create Bear Market Worry

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“Cryptocurrencies do not remain aloof from politics, and they are weakly confirming the role of an alternative to the banking system now,” shared Alex Kuptsikevich, financial analyst at FxPro, in an email to CoinDesk. “With a sharp decline over the weekend, bitcoin wiped out the initial gains, gave away the positions to bears after the third straight week of gains.” Original

The Relationship Between Crypto and NFTs

Crypto exchange Coinbase, however, plans to make participation easier. Its much anticipated NFT marketplace will allow users to buy NFTs with fiat using their credit cards. Indeed, companies like eBay, Reddit and Instagram all have plans to integrate NFTs, also likely using fiat options that may cause NFTs to further decouple from crypto. But until that happens, the connection between the two markets remains pertinent, and besides, NFTs will always need a blockchain like Ethereum and Solana to function. Source

Hive to Buy Intel Mining Chip That Can Raise Hashrate by 95%

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase…