Tag: News

While Bitcoin’s Hashrate Remains Sky-High, Merge-Mined Crypto Asset Networks Benefit – Mining Bitcoin News

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In recent times, Bitcoin’s hashrate has been consistently above 300 exahash per second (EH/s) as multiple mining pools dedicate significant hashpower to the Bitcoin blockchain today. Interestingly, some of the world’s top bitcoin mining pools are also using their hashrate to merge-mine other coins, and these networks have benefited from bitcoin’s increased hashrate. How Bitcoin’s Hashrate Benefits Other Crypto Networks Bitcoin’s hashrate secures the network and provides rewards for miners participating in the system, but mining pools also dedicate computational power to networks like Namecoin, Elastos, Emercoin, and Vcash. For…

ETC Remains Near 2-Month Low, LTC Down by 4% on Monday – Market Updates Bitcoin News

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Ethereum classic remained near a two-month low on March 6, as a cloud of uncertainty continued to hover over markets. The global crypto market cap remained bearish to start the week, and is down 0.55% at the time of writing. Litecoin also moved lower on Monday. Ethereum Classic (ETC) Ethereum classic (ETC) started the week trading close to a two-month low, as volatility in crypto markets remained high. ETC/USD slipped to an intraday low of $19.26 on Monday, a day after trading at a peak of $20.05. The move has…

BUSD’s Exit From Top 10 Cryptocurrencies Shakes Market Valuations – Market Updates Bitcoin News

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It has been 21 days since Paxos revealed that it would no longer mint the stablecoin BUSD. Since then, over 7 billion BUSD stablecoins have been redeemed. Prior to the announcement, BUSD was once a top-ten crypto asset. However, the top ten cryptocurrencies by market valuation have changed since the redemptions. Presently, there are only two stablecoins in the top ten standings, and the Okx exchange token, OKB, has joined the pack. 2023 Records Changes in the Top 10 Cryptocurrencies by Market Capitalization Every year, the top ten cryptocurrencies by…

Volatility in BTC, ETH Remains High to Start the Week – Market Updates Bitcoin News

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Bitcoin consolidated for a third straight session, as markets prepared for a big week of U.S. economic data. Later this week, nonfarm payrolls will be posted, with Federal Reserve chair Jerome Powell also speaking in the coming days. Ethereum also fell marginally lower to start the week. Bitcoin Bitcoin (BTC) started the week in consolidation, ahead of a key week of economic data from the United States. Following a high of $22,497.00 on Sunday, BTC/USD slipped to an intraday low of $22,331.31 earlier in the session. As a result of…

Dubai-Headquartered Crypto Exchange MaskEX Launches Virtual Card for Worldwide Spending and Welcomes Ben Caselin as Vice President to Drive Global Expansion Effort – Press release Bitcoin News

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press release PRESS RELEASE. Dubai, United Arab Emirates, March, 2023 – MaskEX, a rapidly expanding third-generation crypto exchange, headquartered in Dubai, has announced the launch of its crypto-backed Virtual Card, enabling users to spend their crypto as fiat in more than 176 countries with over 50 million merchants worldwide. This new feature is now available to all ID-verified MaskEX users. MaskEX has also announced that Ben Caselin, former Head of Research and Strategy at Hong Kong-based crypto exchange AAX, has joined MaskEX in the role of Vice President. Drawing on…

Democratic Senators Push Against Meta’s Idea of Bringing the Metaverse to Teens – Metaverse Bitcoin News

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Meta, the social network company, is getting some pushback on its plan to market and bring Horizon Worlds, its flagship metaverse app, to teens. Democratic senators Ed Markey and Richard Blumenthal directed a letter to the company to halt these actions, citing concerns about the interactions that teens could have in Meta’s virtual worlds. Meta Sees Opposition to Metaverse Adoption Plans for Teens Two Democratic senators have written a letter asking Meta to stop its recently reported plan of opening its metaverse world to teens. Ed Markey and Richard Blumenthal,…

Central Bank Orders Financial Institutions to Ration Dollars – Africa Bitcoin News

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Growing shortages of foreign exchange on the interbank market have reportedly forced the Central Bank of Kenya to ask financial institutions to ration dollar purchases by Kenyan businesses. The shortages have forced Kenyan firms to seek greenbacks on alternative markets where the exchange rate is higher than the official government rate. New Limits Curtailing Operations of Kenyan Firms Kenya’s ongoing foreign exchange shortages have reportedly forced the Central Bank of Kenya (CBK) to instruct financial institutions to impose caps on the amount of forex that businesses and individuals can purchase.…

CoinEx Introduces Strategic Trading to Help Users Set out Sound Investment Plans and Stay Ahead – Press release Bitcoin News

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press release PRESS RELEASE. In traditional financial markets, the term trading strategy describes a comprehensive plan covering all trading activities, guiding investors to execute their target trades. In the world of crypto, a trading strategy refers to a predetermined plan or trading behavior designed to help investors profit from buying or selling cryptos in both long and short markets. Although not necessary for all types of crypto trading, a sound trading strategy can help investors mitigate potential risks. During extreme market conditions, an effective trading strategy enables crypto users to…

NFT Creators Investigated in Israel for Alleged Tax Evasion – Taxes Bitcoin News

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Israel’s tax authority is after two creators of non-fungible tokens (NFTs) suspected of failing to report almost $2.2 million in revenue. The news of the investigation comes after the recent arrest of a graphic designer from Tel Aviv accused of similar offenses. Thousands of ‘Western Wall NFTs’ Allegedly Sold Without Tax Reporting Israel Tax Authority is investigating two NFT creators in Jerusalem who did not report millions of U.S. dollars in revenue received from the sale of their digital works. The tokens they offered were based on a 3D scan…