Month: August 2023

Genesis Digital Assets opens three new facilities in South Carolina in US expansion

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Bitcoin miner Genesis Digital Assets (GDA) announced on Aug. 1 that it has launched three new data centers in the U.S. state of South Carolina. The facilities came online in February and March. The facilities are located in the western part of the state, with the first opening in the town of Anderson on the site of an abandoned warehouse. It has a capacity of 18 MW. Facilities were opened between the towns of Union and Lockhart the following month that had a combined capacity of 15 MW. Genesis Digital…

Bitcoin Investor Sentiment Flips Toward Greed Despite Fall Below $29,000

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Amid the turbulence, the Bitcoin price has finally fallen below the $29,000 support. This decline points to the bears taking over the market, but investor sentiment has not swung the way it normally would in such circumstances. Instead of swinging toward bearish momentum, investors are rather leaning toward greed, suggesting that they do not expect this decline to last. Bitcoin Fear & Greed Index Moves Toward Greed The Bitcoin Fear & Greed Index measures investor sentiment toward the market by taking into account things like surveys, social media posts, market…

Nearly 75% of the World’s Largest Banks Support the Transfer of Funds to Major Crypto Exchanges: CoinGecko

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An overwhelming majority of the world’s largest banks support the transfer of client funds to major crypto exchanges, according to a new study by digital asset data aggregator CoinGecko. The study examines how crypto-friendly the world’s largest 50 banks are based on two criteria: whether they offer crypto trading or on-ramping services within the bank’s native platforms, and whether they offer the ability to connect a bank account to a major crypto exchange, such as Coinbase, Binance or OKX. Says the report, “37 of the 50 (74%) biggest global banks…

Binance Japan begins launching trading services for residents

Major cryptocurrency exchange Binance has announced the launch of a Japan-based arm roughly two years after receiving a warning from the country’s financial regulator. In an Aug. 1 announcement, Binance said local crypto exchange Sakura Exchange Bitcoin has launched as Binance Japan in an effort to operate within the country’s regulatory framework. The firm said it was offering spot trading for 34 tokens as of Aug. 1, with plans to migrate global Binance users starting on Aug. 14. We’re proud to announce that #Binance has officially launched in Japan as…

How DeFi Protocols are Building More Granular and Extensible Capabilities

In the coming months, we can expect more DeFi protocols to divide their functionalities into extensible, programmable micro-primitives. This will lead to a DeFi landscape that is more granular, flexible, and developer-friendly, but also more complex. If DeFi is to become a true parallel alternative to traditional finance, primitives such as lending and AMMs won’t be sufficient to build sophisticated financial services. Smaller, more targeted, and programmable micro-primitives are necessary. As DeFi continues to evolve, the adoption of these smaller, focused building blocks will likely play a significant role in…

Bitcoin investor sentiment slumps to a new low, even as macro and equities show improvement

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Bitcoin surpassed the $30,000 resistance on June 21, or 40 days ago, after a notable 19.5% gain in a week. Since then, it has been moving within a range filled with occasional moderate corrections, and as of Aug. 1, the Bitcoin (BTC) price was trading near $29,300. While these consolidation periods are common in traditional markets, they tend to make crypto investors quite anxious. As Bitcoin’s price repeatedly fails to break the $31,000 level, traders are becoming increasingly tense and their sentiment is worsening. This trend could reverse suddenly, regardless of any…

Crypto trader weighs in on possible Bitcoin extinction scenarios

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Episode 11 of Cointelegraph’s Crypto Trading Secrets podcast is now live, welcoming crypto trader Mohit Sorout for an interview that took place on July 21. Host Benjamin Pirus asked Sorout several questions, including one regarding Bitcoin’s (BTC) future and what scenario, if any, could lead to its extinction. Sorout suggested two different possibilities.  According to the trader, “If somebody figured out a way to crack seed phrases, if they built a supercomputer,” it could potentially lead to vulnerabilities in Bitcoin. “There have been some rumors in the past. People say,…