Global financial markets, stocks and cryptocurrencies took a knock on Jan. 10 after rumors that the Federal Reserve may hike interest rates four times in 2022 circulated and sparked a sell-off and sent the benchmark 10-year Treasury yield briefly above 1.8%. Data from Cointelegraph Markets Pro and TradingView shows that a massive wave of selling broke Bitcoin’s (BTC) support near…
Kazakhstan has taken a toll on the bitcoin mining industry as an energy crisis prompted a series of protests and political instabilities last week. Russia has reportedly sent “peacekeeping forces” to the central Asian country as per the request of president Kassym-Jomart Tokayev, a move that sparked revolt across the region. Besides higher gas prices, Kazakhstan’s current intermittent energy and…
The Arbitrum network, an Ethereum L2 (Layer 2) rollup, experienced some difficulties that caused a complete stop in the production of blocks and the confirmation of transactions. According to reports from the Arbitrum team, this incident had to do with downtime regarding its sequencer, a special node that manages the order of transactions, leaving the network unusable for approximately seven…
In brief Kardashian, Mayweather and Pierce all promoted the EMAX token in some form during May and June of last year. EMAX has lost most of its value since hitting a high on May 31. If you think Ethereum is struggling, you should see the prices for Ethereum Max (EMAX), the Ethereum-based token that generated publicity last summer through endorsements…
El Salvador President Nayib Bukele has claimed officials will be able to use geothermal energy from one of the country’s inactive volcanoes to power its Bitcoin City project. In a Sunday notice, Bukele said there was a 90% probability of using the Conchagua volcano to supply 42 megawatts — “enough to provide energy to the entire Bitcoin City,” according to…
Bitcoin (BTC) dipped below the $40,000 level on Jan. 10 for the first time since September 2021. The crypto markets were not alone as the U.S. equity markets also witnessed strong selling when traders chose to reduce risk and piled into the 10-year Treasury yield which surged to 1.8% from 1.51% at the end of 2021. On Jan. 9, Goldman…
In brief Take-Two Interactive, the publisher of Grand Theft Auto and other major game franchises, will acquire Zynga for $12.7 billion. The mobile game maker recently announced plans to develop games that make use of blockchain networks and NFTs. Mobile game publisher Zynga made its name on casual smashes like FarmVille and Words With Friends, but the company has recently…
Legendary value investor Bill Miller said in an interview that Bitcoin provides an insurance to financial catastrophe that no other asset can provide and is the only investment that can increase in value by ten or 50 times. Miller also said half of his personal investment portfolio is allocated to bitcoin and Bitcoin-related companies including bitcoin miner Stronghold and software…
The price of bitcoin has been on a long losing streak since November 10, 2021, when the leading crypto asset tapped an all-time high at $69K per unit. During the last two weeks, bitcoin has shed more than 19% in value, and the network’s hashrate has dropped from over 200 exahash per second (EH/s) to 174 EH/s losing roughly 15%…
Canadian crypto mining firm Bitfarms has already bought 1,000 Bitcoin in 2022, making its total holdings of the crypto asset more than $177 million. In a Monday announcement, Bitfarms said it purchased 1,000 Bitcoin (BTC) for $43.2 million in the first week of January, roughly the same amount the company added to its treasury in both the third and fourth…
