Day: July 4, 2022

Bitcoin Long-Term Holder Capitulation Approaching Bottom Zone, But Not Quite There Yet

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On-chain data shows Bitcoin long-term holder capitulation has deepened recently, but has not entered into the historical bottom zone yet. Bitcoin Long-Term Holder SOPR Continues To Observe Deep Values Below ‘1’ As explained by an analyst in a CryptoQuant post, BTC long-term holders have been realizing losses in recent weeks. The “spent output profit ratio” (or SOPR in short) is an indicator that tells us whether Bitcoin investors are currently selling at a profit or at a loss. The metric works by checking the on-chain history of each coin being…

KuCoin CEO Addresses FUD, Says Crypto Exchange Has Zero Plans To Halt Withdrawals

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The chief executive officer of crypto exchange KuCoin is addressing the fear and uncertainty surrounding the platform and says that the company has no plans to halt its withdrawal services. KuCoin CEO Johnny Lyu dispels rumors that KuCoin is in dire financial straits due to the firm’s alleged exposure to embattled crypto projects such as hedge fund Three Arrows Capital (3AC). “Not sure who’s spreading these sheer rumors, and what their intentions are, but KuCoin does not have any exposure to LUNA, 3AC, Babel, etc. No ‘immense suffer’ from any…

KuCoin CEO Debunks Rumor that the Exchange Has Only 300 Bitcoin, States On-Chain Tools Can’t Track Unlabeled Exchange Wallets

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Summary: KuCoin CEO, Johnny Lyu, has debunked another rumor that the exchange only has 300 Bitcoin in its wallets. According to Mr. Lyu, popular tracking tools cannot identify exchange addresses because many are not labeled. He was responding to another tweet that showed that KuCoin had over 16,000 Bitcoin in its wallets. KuCoin CEO, Johnny Lyu, has debunked another rumor that the crypto exchange has only 300 Bitcoin in its wallets. According to Mr. Lyu, the on-chain tracking tools currently available cannot rack all exchange wallets since they are not…

Analyst Says Duke Energy Corporation Is Studying Bitcoin Mining Applied to Demand Response – Bitcoin News

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According to the lead rates and regulatory strategy analyst at Duke Energy Corporation, the second-largest U.S. energy corporation is currently studying bitcoin mining. Lead analyst Justin Orkney said that a bitcoin demand response (DR) study was being worked on and the energy firm is partnered with bitcoin miners that are enrolled in Duke’s DR programs. The Second Largest U.S. Energy Corporation Is Researching Bitcoin Mining The latest “Bitcoin, Energy and the Environment” podcast with Troy Cross, called “Duke Energy is studying bitcoin,” features Justin Orkney, the lead rates and regulatory…

POSSIBLE END OF BITCOIN MINING 😱 | A Way That Bitcoin Could Go To 0$

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io The site I used to look at the profitability of crypto miners in real time: We are going to see more and more miners being shut off. Private and publicly listed crypto miners owe up to $4 billion in debt used to finance the construction of gargantuan facilities across North America, according to industry participants and data compiled by CoinDesk. This is also terrible for bitcoin transactions as they will go slower and slower as more miners shut off. Crypto mining profitability…

Singapore’s financial watchdog considers further restrictions on crypto

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The Monetary Authority of Singapore, or MAS, has been “carefully considering” adding restrictions that could affect how retail investors handle crypto, according to one of the government’s senior ministers. According to parliamentary records published on Monday, Singapore senior minister and MAS chair Tharman Shanmugaratnam said the financial watchdog may consider “placing limits on retail participation” for crypto investors as well as introducing rules on the use of leverage for crypto transactions. Shanmugaratnam also called for regulatory clarity among financial regulators around the world, “given the borderless nature of cryptocurrency markets.”…

Mounting Support For Bitcoin At $19,000 As Market Ushers In A New Week

Bitcoin has come out of the weekend with less than favorable performance but it has not been all bad for the digital asset either. After falling below $20,000, it trended low towards the end of last week. However, the cryptocurrency has been able to hold the $19,000 level despite efforts from the bears to pull it down. This has been due to a number of factors but most importantly is the support that has been forming at this level. Support At $19,000 After struggling to hold above $19,000 for most…

Ethereum Gas Fees Falls To Record Low, Price Consolidates Around $1,000

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After reaching a level last seen in November 2020, the average Ethereum gas fee is now below $1. Ethereum Gas Fees Falls The Ethereum network experienced transaction fees as low as 69 cents on Saturday, which has not happened in the previous 19 months. The following day, gas prices reached $1.57 or 0.0015 ETH, which is equivalent to December 2020’s numbers. Transaction costs on the network today ranged from 20 cents to merely 20 cents, with 20 cents being the highest. Gas prices in the Ethereum ecosystem ranged from $0.01…