Day: December 28, 2022

Cardano Extremely Undervalued? On-Chain Data Suggests It

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Cardano is one of the altcoins that has been hit the hardest by the bear market. Created by former Ethereum co-founder Charles Hoskinson, the coin is 91.6% below its all-time high of $3.10, which was reached on September 1, 2021. Thus, ADA is performing much worse than its main competitor Ethereum. ETH reached its all-time high of $4.878 on November 10, 2021, and is currently about -75.4% below that level. However, according to on-chain analytics service Santiment, there are early signs of a trend reversal. For instance, sharks and whales…

Canaan expects minor revenue drop in 2022 despite crypto mining crisis

Cryptocurrency mining giant Canaan continues to generate significant revenues from crypto operations despite the ongoing crypto mining crisis. Canaan’s total revenue for the first nine months of 2022 was roughly 4 billion Chinese yuan (RMB), or about $573 million, a spokesperson for Canaan told Cryptox. As the firm expects to generate another 310 million RMB ($46 million) in Q4, the total annual revenues is expected to amount to 4.3 billion RMB ($619 million). The amount is down around 14% from Canaan’s RMB-denominated revenue of 4.9 billion RMB last year. In…

Blockchain Defining The Sports Betting Industry: Pros and Cons

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Sports betting has experienced tremendous growth in recent years, and technology is a major factor in this trend. As technology advances, more people are drawn to sports betting, and innovations like blockchain have transformed the industry. In this article, we will explore the impact of blockchain technology on sports betting, including the benefits and drawbacks of this innovative technology. But before we delve into that, let’s first define what blockchain technology is.   What is Blockchain Technology? Blockchain is a relatively new term in the tech world or for an…

Argo to Sell Helios Mining Facility to Galaxy Digital, Needs Extra Capital to Avoid Bankruptcy

Troubled crypto miner Argo is set to sell Helios to Galaxy Digital for a much-needed $65 million as insolvency looms. Argo Blockchain has reportedly agreed to sell its Helios mining facility to digital asset and blockchain-centric company Galaxy Digital. Argo will sell the Helios mining plant to Galaxy Digital for $65 million as part of its plans to stave off bankruptcy. The embattled Bitcoin (BTC) mining company has been seeking extra capital to avoid filing for bankruptcy. According to reports, Argo Blockchain expects to close its Helios acquisition deal with Galaxy…

Japan Considers Lifting Ban on Foreign-Issued Stablecoins

The new move by Japan to allow the distribution of stablecoins means that there would be stricter regulations on Anti-Money Laundering controls. The Financial Services Agency (FSA) in Japan has reportedly announced a draft system and guidelines for the circulation of stablecoins that are pegged on legal currencies like the USD, Pounds, etc. In June, the Japanese parliament passed a bill to limit stablecoin issuance to banks and trust companies, hindering non-financial institutions from accessing them. At the time, the government intended to protect investors and the entire financial system…