Month: May 2022

Amid Mining Bans, China Still Commands World’s Second-Largest Share of Bitcoin Hashrate – Mining Bitcoin News

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New data stemming from the latest Cambridge Centre for Alternative Finance (CCAF) report on bitcoin mining indicates that China still holds the second position in terms of global hashrate. While China commands close to 22% of Bitcoin’s global hashrate, the United States currently dominates with 37.69%, according to CCAF researchers. China Is Still the World’s Second-Largest Concentration of Bitcoin Miners The Cambridge Centre for Alternative Finance updated the organization’s bitcoin mining data and map in order to highlight 2022 hashrate statistics. In July 2021, Bitcoin.com News reported on the CCAF’s…

Crypto users react to Terraform Labs legal team purportedly leaving company

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The ongoing saga with Terraform Labs, the blockchain developer behind Terra (LUNA), took a turn following a supposed change in employment status for many on the firm’s legal team. According to their LinkedIn profiles, Terraform Labs general counsel Marc Goldich, chief litigation and regulatory counsel Noah Axler, and chief corporate counsel Lawrence Florio have all stopped working for the blockchain firm as of May 2022. Goldich started at Terraform Labs in August 2021, while Axler and Florio joined in January 2022. The change in employment status for three members of…

Bitcoin Market Plunges Into Extreme Fear, How Scary Does It Get?

Data shows the Bitcoin market sentiment has remained deep in extreme fear this week as broader financial markets also get fearful. Bitcoin Fear And Greed Index Shows A Value Of 12 This Week As per the latest weekly report from Arcane Research, the wider financial market is at its highest level of fear since the COVID crash in 2020. The “fear and greed index” is an indicator that tells us about the general market sentiment among Bitcoin investors right now. The metric displays this sentiment using a numeric scale that…

Elwood Technologies Touts Strong Focus on Crypto Derivatives

“There’s a huge focus on derivatives,” said Elwood CEO James Stickland in an interview. “It’s a great way for tier one banks to get involved in a synthetic nature without having to hold the underlying. Actually, there are huge margins and spreads to be made in the derivatives space, and the traders that are coming from those institutional houses are very used to that asset class, so they can deploy similar strategies.” Source

NFT prices take a gut punch as the crypto bear market deepens

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Without fail, crypto has a way of humbling even the most self-assured and this market is definitely not for the faint of heart. NFT investors have entered what appears to be a bear market and the recent chaos is also impacting community morale.  The decline in NFT prices occurred as the United States Federal Reserve raised interest rates, Terra’s Luna and UST-based platforms collapsed and traders came to terms with the reality that the entire sector could be in a bear market. Things aren’t as bad as they were in…

Bitcoin Rises to $30K; Resistance at $35K

Bitcoin (BTC) is stabilizing around the $30K price level. The cryptocurrency is on track to register a positive momentum signal on the daily chart, similar to what occurred in late-March. Still, nearby resistance could cap an upswing in price. Source