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Day: August 8, 2022
Ether's Deepest Backwardation Since 2020 Crash Shows Traders Prepping for Ethereum PoW Split
Traders buy ETH in the spot market and sell ether futures to withstand volatility, creating backwardation. Source
FLOW Moves to Highest Point Since May, DOT Fast Approaching $10 Level – Market Updates Bitcoin News
Flow was in the green to start the week, as the token climbed to its highest point since May. The surge has seen prices rise by as much as 15% on Monday, as recent gains were extended. Polkadot was also higher, as it too cemented multi-month highs. FLOW FLOW was one of Monday’s most notable movers, with prices of the token increasing by as much as 15% in today’s session. After trading at a low of $2.59 on Sunday, FLOW/USD rallied to an intraday high of $3.13 to start the…
SoftBank Reports Record Quarterly Loss
SoftBank, a Japanese conglomerate that has invested in crypto companies, reported a record quarterly loss of $23.4 billion. The company attributed the loss to the global tech stock sell-off and rapid fall of the yen, according to an earnings presentation. Source
Iris Energy Turns On 41 Megawatts of Bitcoin Mining Machines Ahead of Schedule
The firm will be adding another 50MW by the end of next month, bringing its total hashrate to 3.7 EH/s. Original
US Treasury sanctions USDC and ETH addresses connected to Tornado Cash
The United States Treasury Department has added more than 40 cryptocurrency addresses allegedly connected to controversial mixer Tornado Cash to the Specially Designated Nationals list of the Office of Foreign Asset Control, or OFAC. In a Monday announcement, OFAC effectively barred U.S. residents from using Tornado Cash and placed 44 USD Coin (USDC) and Ether (ETH) addresses connected to the mixer on its list of Specially Designated Nationals. The department alleged that individuals and groups had used the mixer to launder more than $7 billion worth of crypto since 2019, including…
Dogecoin and Shiba Inu Meme Coin Holders Buy Tamadoge Crypto Presale?
Dogecoin and Shiba Inu holders are looking for the best meme coins to buy following the cryptocurrency market corrections. One way to buy potentially profitable tokens is to buy crypto before listing. By investing early in the best crypto presales, investors can experience massive growth in the future. This guide reviews the upcoming meme coins to invest in 2022. Why are DOGE and SHIB Investors turning to Tamadoge in 2022? In place of Doge and Shiba Inu, investors are turning to Tamadoge – our recommended best crypto presale token and…
WazirX Co-Founder Nischal Shetty Speaks Out on Spat With Binance’s CZ
Shetty, however, shot back at CZ’s claims about not owning control of the WazirX exchange, saying “WazirX is the technology which we sold to Binance.” He said he has legal documents proving the sale, but is unable to share, again due to legal reasons. “What I really want is a solution,” Shetty said. Source
Bitcoin price targets 8-week highs as Ethereum reaches $1.8K
Bitcoin (BTC) looked to target new August highs at the Aug. 8 Wall Street open as upcoming United States inflation data fueled sentiment. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView $25,000 next major BTC resistance Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it hit $24,246 on Bitstamp, its best since July 30. The pair was within striking distance of its highest since mid-June at the time of writing, while traders and analysts scanned the charts for signs of resistance. For on-chain monitoring resource Material Indicators, this came…
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