In another sign of the fast approaching crypto winter, the combined market capitalization of all cryptocurrencies crashed to $969 billion on Monday, data from CoinMarketCap shows. The plunge of more than 12% over the last day amid a wider market rout has taken the total market cap of all cryptocurrencies to levels not seen since February 2021, nearly 18 months…
Legislation making it illegal to pay with cryptocurrencies has been filed with the State Duma, the lower house of Russia’s parliament. The sponsors of the bill want to task crypto platforms to prevent transactions that could facilitate payments with digital assets. Draft Law Banning Use of Cryptocurrency for Payments Submitted to Russian Parliament Russian lawmakers will review a new bill…
Older Bitcoin (BTC) mining rigs are finding it difficult to generate positive revenues during the ongoing crypto market decline. 75% drop in Bitcoin mining profitability The profitability of many Application Specific Integrated Circuit (ASIC) machines has dropped into the negative zone after Bitcoin’s fall below $24,000 this June 13, data fetched by F2Pool shows. Those machines include Antminer S11 and…
sponsored The cryptocurrency Winter is (NOT) here to stay. If the media was any indicator of the current state of the cryptocurrency industry, one would think it was time to “pack up” and find a new technology to invest both time and money into. It is true that the cryptocurrency industry is currently experiencing another so called “cryptocurrency winter” and…
While the market has not yet fully recovered from the onslaught caused by the TerraUSD (UST) depeg, another stablecoin project shows signs of distress, causing fears and speculation within the community. Stablecoin protocol USDD’s price dipped to $0.97 on major crypto trading platforms on Monday. Because of this, the market started to keep an eye on the project with fears…
Crypto exchange Binance announced they are ending support for Litecoin (LTC) transactions sent through the latest MimbleWimble (MWEB) upgrade. Binance warned that any transaction sent through the MWEB function would be lost since the crypto exchange can’t verify the sender’s address. The crypto exchange didn’t respond to Cointelegraph’s request for comments at the time of publishing. The announcement comes just days…
Bitcoin (BTC) faced continued selling pressure before the June 13 Wall Street open as Ether (ETH) revisited multi-year lows. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin battles for $24,000 Data from Cointelegraph Markets Pro and TradingView showed BTC/USD eclipsing its ten-month lows set in mid-May. The largest cryptocurrency faced bearish triggers on multiple fronts, these coming from both within and beyond…
Crypto newcomers are troubled about deciding their next move as the market becomes unpredictable. Because of this, crypto community members handed out their advice to those trying to navigate through the cold crypto winter. In a Twitter thread, nonfungible token (NFT) collector and trader Krissyos highlighted the importance of having a survival mindset during this time. According to the NFT…
Bitcoin (BTC) and Ethereum (ETH) have both slipped by double digits over the past 24 hours, sparking a wave of liquidations. Bitcoin, the largest cryptocurrency with a market capitalization of over $470 billion, is down over 11% over the past 24 hours. The leading cryptocurrency is currently changing hands at $24,437, a level last seen in December 2020. BTC is…
There’s a glimmer of hope for the bear market’s most recent victim. Following reports that Celsius is insolvent, Nexo is offering a buy-out. A Nexo representative told Cointelegraph that Nexo is trying to do the “right thing” as they are “mindful of the repercussions for retail investors & the crypto community.” Celsius suspended all network withdrawals on Monday; users are…
