According to a tweet from data research firm Santiment, the number of Ethereum on crypto exchanges has dropped to historic levels. Santiment reports that the total balance of Ethereum on trading platforms has fallen below 18 percent, hitting levels that were last seen in November 2018. The firm believes that
It’s no longer a secret that Musk is a king when it comes to manipulating the crypto market. Tweets from the Tesla boss have sent the prices of cryptos surging on multiple occasions. For instance, the price of Bitcoin crashed in mid-May when he announced that his electric vehicle
According to Kevin Zhang, the vice president of crypto mining firm Foundry, Yunnan officials have moved to shut down all major Bitcoin mining facilities in the southwestern province. Citing an anonymous source, Zhang said on Wednesday that the latest crackdown efforts were related to China’s 100thCommunist Party anniversary that
Brad Sherman, a U.S. Representative for California's 30th congressional district, has said that cryptocurrencies are “highly volatile” and should be completely shut down. Sherman aired his views during a June 30 hearing hosted by the House Financial Services Oversight Subcommittee. The Congressman would rather have people place
Despite India’s relatively less stringent stance on cryptocurrencies, exchanges are still battling with limited access to banking services. Commercial banks in India are still reluctant to partner with cryptocurrency exchanges, Reuters reported on Thursday. Recall that in early May, the National Payments Corporation of India (NPCI) announced that the
It is no longer a secret that miners are exiting China in droves or opting to sell their mining rigs. In April 2020, the Asian nation reportedly controlled about 70 percent of Bitcoin’s hash power. However, following the recent clampdown on crypto mining by Chinese regulators, this figure is
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During a Wednesday interview with Bloomberg, former hedge fund manager and the current CEO of Galaxy Digital Mike Novogratz opined that Ethereum might overtake Bitcoin in the near future. Galaxy Digital CEO Mike Novogratz says that the Bitcoin community needs to do a better job of educating lawmakers, with @emilychangtv
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The financial regulatory body of the UK, Financial Conduct Authority, FCA, has recently issued a statement announcing that it has banned Binanance Markets Limited, which is a part of the Binance cryptocurrency trading platform, from getting any regulatory activity in the country. The financial regulator has also issued a special
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One of the biggest goals of the cryptocurrency industry has always been to protect its users from a major issue of traditional finance. That problem is inflation. People from all over the world have been struggling with inflation at one point or another, having their local currencies devalued, which caused
Since China began its clampdown on crypto mining activities in late May, there have been reports that miners are selling their rigs. Following China’s swift and sweeping crackdown, it would not come as a surprise to find mining rigs and other related items being listed on sites for secondhand
Investment services firm NYDIG and enterprise payments company NCR Corporation have inked a partnership that will allow 650 U.S. banks to offer crypto purchases to millions of customers. According to a Forbes article published on Wednesday, the deal will enable hundreds of U.S. banks and credit unions to
Aswath Damodaran, a professor of finance at New York University’s Stern School of Business, has once again voiced his criticism for Bitcoin. According to him, the flagship cryptocurrency has “failed miserably” as a form of money. The NYU professor voiced dished out his latest repudiation of Bitcoin as a
Texas might be quickly working its way to becoming the next China in terms of crypto mining operations. Argo Blockchain, a U.K.-based bitcoin mining firm, has secured a $20 million loan to build its facility in Texas. Argo took the loan from crypto financial services company Galaxy Digital.
A report from analytics firm Glassnode suggests that institutional demand for Bitcoin may be slowing down. Glassnode came to this conclusion after evaluating the share price of Grayscale’s Bitcoin Trust, as well as the total holdings of two Canadian Bitcoin exchange-traded funds. According to the report, the shares of
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U.S. Congressman Bill Foster must think that blockchain’s immutability must be a joke following his comments that the judiciary should be able to roll back blockchains. During a virtual event organized by Axios on Tuesday, Foster suggested that courts should have the power to unmask crypto users and
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Every crypto project wants its token to be listed on major crypto exchanges and crypto data aggregators. It is always a significant and massive milestone for such projects in the crypto industry. For getting listed on CoinMarketCap, one of the leading crypto data aggregators, XCarnival celebrates with airdrops. Recently, XCarnival