Daily Archives: May 28, 2022

Crypto Miners Account for Over 2% of Electricity Consumption in Russia, Estimate Suggests – Mining Bitcoin News

Crypto Miners Account for Over 2% of Electricity Consumption in Russia, Estimate Suggests – Mining Bitcoin News

The share of crypto miners in Russia’s power consumption structure already exceeds 2%, according to a new government estimate. On this backdrop, the country’s industry ministry believes it’s time to bring the sector out of the shadows and regulate it.

Crypto Miners Burn More Electricity Than Russian Farmers

Miners extracting digital currencies account for more than 2% of the total volume of electricity consumed in the Russian Federation and their activities need to be “whitewashed” and regulated, Russia’s Deputy Minister of Industry and Trade Vasily Shpak stated. Speaking at a forum organized by the ruling United Russia party, Shpak elaborated:

This is more than the cost of electricity for agriculture. In this sense, we cannot but recognize mining as an industry.

Cryptocurrency mining is now in the “gray zone,” it’s not taxed in any way and creates risks for those involved in it, the government official noted during the event devoted to the development of blockchain technologies and the regulation of digital financial assets. Shpak is convinced that the industry can be brought out of the shadows and made transparent for the state.

The deputy minister expects that in the future the amount of electricity spent on mining will decrease as the industry moves towards less energy-intensive mining protocols. Nevertheless, it’s obvious that mining facilities will continue to consume power, Shpak said, quoted by Interfax. He further emphasized:

Our position is completely unambiguous — mining must be recognized, regulated and established as an industrial activity.

Bitcoin mining is one of the key crypto-related activities that Russian authorities are now working to legalize, despite Bank of Russia’s call for a blanket ban on all of them. A bill designed to achieve that was filed with the Russian parliament in late April. The draft legislation was recently revised and lawmakers withdrew a proposal to introduce a one-year tax and customs amnesty for mining entities.

Officials in Moscow believe Russia should develop the sector, citing its competitive advantages in terms of abundant energy resources and favorable climate. However, amid western penalties imposed over the invasion of Ukraine, Russian miners have been targeted with sanctions to deny the country opportunities to circumvent the restrictions. Russia’s share in the average global monthly hashrate has dropped to 4.66% this year.

Tags in this story
bill, Bitcoin, Bitcoin mining, consumption, Crypto, crypto miners, crypto mining, Cryptocurrencies, Cryptocurrency, draft law, Electricity, Energy, Hashrate, Legislation, Miners, mining, power, Regulation, Regulations, Russia, russian, share

Do you think the electricity consumption in Russia’s crypto mining sector will continue to grow after the industry is regulated? Share your expectations in the comments section below.

Lubomir Tassev

Lubomir Tassev is a journalist from tech-savvy Eastern Europe who likes Hitchens’s quote: “Being a writer is what I am, rather than what I do.” Besides crypto, blockchain and fintech, international politics and economics are two other sources of inspiration.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

(function(d, s, id) {
var js, fjs = d.getElementsByTagName(s)[0];
if (d.getElementById(id)) return;
js = d.createElement(s); js.id = id;
js.src=”
fjs.parentNode.insertBefore(js, fjs);
}(document, ‘script’, ‘facebook-jssdk’));



Source link

XRP Whales Boost Accumulation Appetite, Register 2-Month Peak Holding Supply

XRP Whales Boost Accumulation Appetite, Register 2-Month Peak Holding Supply

The total supply of XRP circulating in the market is now at 48.3 billion from the total XRP supply of 100 billion. XRP whales currently hold from 1 million to 10 million XRPs and are on a massive hoarding spree with an uptick in supply stretching out to a two-month high.

These active XRP whales currently chalked up over 6.12% of the total XRP. Despite the collapse of the crypto market, Ripple whales have resurfaced to be increasingly daring and active.  

According to Santiment, “XRP Network whales holding between 1M and 10M $XRP have collectively been accumulating, and now hold their highest percentage of the asset’s supply in 2 months.” This is the most active tier of non-exchange holders who are currently keeping 6.12% of all $XRP.

Suggested Reading | Lido (LDO) Sheds 58% Of Its All-Time High TVL At $11 Billion

XRP Trades At $0.40; Now Sixth Largest Crypto

XRP, Ripple’s cryptocurrency, has adjusted more than 50% in the last two months, with the crypto market going on a downward spiral. The crypto is currently the sixth largest digital asset by market cap and is trading at $0.40.

Brad Garlinghouse, Ripple CEO, attended the World Economic Forum held in Davos, Switzerland, and expressed the possibility of launching an initial public offering (IPO).

The plan’s all set once they have put the lid on the legal dispute with the U.S. Securities and Exchange Commission (SEC).

Ripple is very optimistic about the legal battle they have with the SEC, which has been going on for 155 months. The commission has been dragging this lawsuit for the longest time.

Ripple has been accused of selling securities that aren’t registered and XRP tokens, but they are firm with their stance in the courts. Industry experts are optimistic that everything will turn in Ripple’s favor.

XRP total market cap at $19.11 billion on the weekend chart | Source: TradingView.com

Ripple Soldiers On

Despite the headaches of the regulatory proceedings, Ripple soldiers on in the international market. XRP has dipped by nearly 90% from its all-time high values but forges on.

Quarter 1 of 2022 revealed XRP cross-border payments of $8 billion, dubbed eight times larger when compared to the liquidity settlement in Q1 of 2021.

By looking at the trading action performed since the beginning of 2022, it’s apparent that XRP whales have been amassing or hoarding XRPs by purchasing at a discounted price.

Suggested Reading | Ripple (XRP) Plunges To $0.43 With Bears In Full Swing

The SEC has informed the court of their intent to file for the opposition in response to the amicus request by the XRP holders, wherein they requested a time extension to June 7 in light of the incoming holidays and other deadlines.

The application filed by John Deaton, attorney of the XRP holders and founder of CryptoLaw, was dismissed in favor of the commission.

Meanwhile, more than six crypto holders were given the amici status, which allows them the privilege to assist the court.

Featured image from The Daily Hodl, chart from TradingView.com



Source link

Bored Ape and Cryptopunk Values Wobble — During the Last Month, Blue-Chip NFT Floor Values Dropped Over 50% – Markets and Prices Bitcoin News

Bored Ape and Cryptopunk Values Wobble — During the Last Month, Blue-Chip NFT Floor Values Dropped Over 50% – Markets and Prices Bitcoin News

While the crypto economy has dropped considerably in value during the last few weeks, seven-day statistics indicate non-fungible token (NFT) sales are down 17.32% lower than last week. Data also shows NFT floor values have tumbled a great deal during the past month as some of the most popular NFTs are selling for a lot less these days.

The Once Bubbly NFT Industry Faces Its First Crypto Bear Market, Non-Fungible Token Interest Is Down and Sales Slide

NFTs have made their mark over the last 12 months raking in billions of dollars in sales, but the NFT trend is currently experiencing its first crypto bear market. The market carnage during the past few weeks has taken a toll on NFT sales and the top floor prices stemming from some of the most popular collections.

Worldwide GT data covering the search query “NFT” from the week of January 16-22 to May 22-28, 2022.

Interest in non-fungible tokens has waned as the search query “NFT” has dropped significantly according to Google Trends (GT) data. During the week of January 16-22, worldwide GT data for the search term “NFT” hit the top score of 100, but this week the search query term is 25.

While NFTs are still selling, weekly sales are down 17.32% lower than the week prior and NFT sales measured last week were down 64% lower than the week before. It’s safe to say by looking at market metrics, that the Terra LUNA and UST fiasco impacted the NFT space as well.

Last week a great number of blue-chip NFT collections saw floor values drop and today the values are much lower. Moreover, a few popular NFT collections reached all-time highs in terms of floor values just 34 days ago, and current statistics show they now sell for a lot less.

Bored Apes, Proof Collective, and Cryptopunks Are Selling for Less Than Half of What They Sold for Last Month

On April 23, 2022, the NFT collection called Proof Collective had a floor value of around 129 ether and at that time, a single ethereum was exchanging hands for $2,950 per unit. This means that 34 days ago, the least expensive Proof Collective NFT was around $380K.

Bored Ape and Cryptopunk Values Wobble — During the Last Month, Blue-Chip NFT Floor Values Dropped Over 50%
The most expensive NFT floor values stemming from NFT collections like Bored Ape Yacht Club (BAYC), Proof Collective, and Cryptopunks have all dropped significantly during the past month.

On that same day, Bored Ape Yacht Club’s (BAYC) floor value was approximately 123 ETH or $362K using ether exchange rates that day. The least expensive Cryptopunks NFT had a price tag of around 59 ether on April 23, which was around $174K back then.

Today, the Proof Collective NFT collection has a floor value of around 75 ether, and using ETH values recorded on May 27, the least expensive Proof Collective NFT today is selling for $130K. The floor value of the BAYC collection is $153K on Friday or 87.98 ETH and Cryptopunks’ NFT floor is 46.5 ETH or $80K.

34 days ago, Bored Ape Chemistry Club NFTs had a floor of around 45 ether and today, the lowest value is 39.5 ether. Similarly, Mutant Ape Yacht Club (MAYC) NFTs had a floor value of 33 ETH a month ago and today the lowest is 17.2 ether.

The Otherdeed NFT collection currently commands the top sales in terms of all the NFT collection sales this past week. Otherdeed sales amounted to $23 million during the last seven days but sales are down 14.52% lower than last week. One particular NFT collection called Goblintown, recorded $21.9 million in sales and jumped a whopping 1,744,444% higher than last week in terms of sales volume.

The top three most expensive NFTs sold this week stemmed from the Otherdeed NFT collection. Bored Ape #2664 was the fourth most expensive NFT sold at 199.99 ether ($390K) two days ago, and Cryptopunk #3764 was the fifth most expensive as it sold for 190 ether ($389K) four days ago.

In addition to the top three most expensive NFT collections in terms of floor value, non-fungible token collections like Clonex, Doodles, Azuki, Veefriends, Bored Ape Kennel Club, and more have all seen floor values drop much lower than the values recorded 34 days ago on April 23.

Tags in this story
BAYC, cryptopunks, Cryptopunks NFT sale, ETH, ether, Ethereum (ETH), Floor Values, Floor Values Drop, Goblintown, Google trends, GT Data, MAYC, nft, NFT collecting, NFT collection, NFT floor values, NFT sales, NFTs, Non-fungible Token, Non-Fungible Token Interest, Otherdeed, sales, Sales Volume

What do you think about the NFT sales dropping and blue-chip NFT collections seeing their floor values drop lower? How do you envision the NFT industry faring in a crypto bear market? Let us know what you think about this subject in the comments section below.

Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

(function(d, s, id) {
var js, fjs = d.getElementsByTagName(s)[0];
if (d.getElementById(id)) return;
js = d.createElement(s); js.id = id;
js.src=”
fjs.parentNode.insertBefore(js, fjs);
}(document, ‘script’, ‘facebook-jssdk’));



Source link

Cardano TVL Sheds $205 Million Since Hitting All-Time High

Cardano TVL Sheds $205 Million Since Hitting All-Time High

Cardano TVL has spiraled downward the past few days mainly because of the intensified crypto market correction and decline in investor interest.

To date, the crypto has plunged to $120.86 million. With the rate it’s going, Cardano has chucked over $205 million in TVL since its all-time high of $326 million on March 24, 2022.

Dubbed to be the eighth largest crypto by market cap, Cardano is said to be the blockchain platform patented for rainmakers and innovators. It’s a POS network that strengthens and provides sustainability to dApps and systems.

Suggested Reading | XRP Whales Boost Accumulation Appetite, Register 2-Month Peak Holding Supply

Cardano Loses Over 65% of TVL

Cardano is slipping away and has even breached its support level. It dipped by 7% today as the crypto market continues to collapse. Increased selling pressure on the support can easily give away a steep correction of $0.34.

Cardano has lost more than 65% of its TVL. This week, ADA started moving towards a bearish trend and dipped further down the support level on Thursday. The low crypto trading volumes may result in incremental losses along the way.

And it’s not just Cardano; other decentralized exchanges like WingRiders have also shaved off more than 50% of their TVL within the same period. SundaeSwap also suffered the same fate losing 41% of its TVL.

ADA total market cap at $15.48 billion on the weekend chart | Source: TradingView.com

Cardano is stumbling and dropping after breaking the critical area of support. The severe downswing has triggered the downward movement of ADA right below the $0.50 support level, which precipitated $1.40 million worth of liquidations in varied exchanges.

It’s expected to go further down to $0.34 or even much lower. Considering the current TVL, we see a more pessimistic or bearish outlook as long as Cardano trades below $0.55.

On the other hand, people should most likely expect the reverse with a four-hour candlestick positioned above the resistance barrier. Breaking through the supply wall can increase the number of buy orders for Cardano, thus pushing the prices to $0.61.

Suggested Reading | ADA Grapples At $0.524; Bullish Trajectory Coming

Crypto Market Not Flipping Upwards Overnight

In the past few weeks, mixed emotions have provoked the crypto market. Investors have been hesitant to jump the gun, crippled by fear and uncertainty.

Yes, there is a lot of pessimism in today’s market. More so, technical indicators seem to support the fact that the crypto market downtrend will not flip overnight.

Although it’s always recommended to invest when the market sentiment registers at a low end, the current market conditions may not give you good returns sooner than expected.

Featured image from Coincu News, chart from TradingView.com



Source link

DOGE Climbs Following Spacex News, XTZ Rebounds From Recent Losses – Market Updates Bitcoin News

DOGE Climbs Following Spacex News, XTZ Rebounds From Recent Losses – Market Updates Bitcoin News

DOGE rose on Saturday, following yesterday’s tweets from Elon Musk confirming that Spacex could soon accept the memecoin as a payment option for merch. Tezos was also higher to start the weekend, as it rose by nearly 5%.

Dogecoin (DOGE)

DOGE was one of the most notable movers in crypto markets on Saturday, coming as traders continued to buy the memecoin following a recent tweet from Elon Musk.

As we covered yesterday, Musk stated that Spacex merch will soon be available to purchase using DOGE.

DOGE/USD hit an intraday peak of $0.08538 on the news, pushing prices to an 11-day high in the process.

Biggest Movers: DOGE Climbs Following Spacex News, XTZ Rebounds From Recent Losses
DOGE/USD – Daily Chart

This move saw the memecoin hover marginally below its resistance of $0.08500, however as traders moved in to secure profits, some of these earlier gains were lost.

As of writing this, DOGE is now trading at $0.08124, which is close to its recent support level of $0.08080.

Price strength still remains elevated despite the surge easing, with the RSI hovering above its resistance at 35.5.

Tezos (XTZ)

Following two consecutive sessions of declines, XTZ rebounded on Saturday, as prices moved towards a short-term resistance point.

XTZ went from trading above $2.25 on Thursday, to falling to $1.75 during yesterday’s session. However, bulls have since re-entered, with prices now consolidating.

On Saturday, XTZ/USD hit an intraday peak of $1.94, which is marginally below an interim resistance level at $1.95.

Biggest Movers: DOGE Climbs Following Spacex News, XTZ Rebounds From Recent Losses
XTZ/USD – Daily Chart

Bulls are likely looking to recapture the $2.00 level, however in order to do so, there are some obstacles to overcome.

One of the main ones being the 44.80 ceiling on the 14-day RSI, which has been broken once in the last two months.

However, should this break, we will likely see an influx of bulls taking prices back to the $2.25 level, but if such a breakout fails, we could see a move closer to support of $1.65.

Could Tezos break into the $2.00 level this weekend? Let us know your thoughts in the comments.

Eliman Dambell

Eliman brings a eclectic point of view to market analysis, having worked as a brokerage director, retail trading educator, and market commentator in Crypto, Stocks and FX.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

(function(d, s, id) {
var js, fjs = d.getElementsByTagName(s)[0];
if (d.getElementById(id)) return;
js = d.createElement(s); js.id = id;
js.src=”
fjs.parentNode.insertBefore(js, fjs);
}(document, ‘script’, ‘facebook-jssdk’));



Source link

Ethereum Gas Fees Touch New Lows, What’s Ahead For Ethereum

Ethereum Gas Fees Touch New Lows, What’s Ahead For Ethereum

Ethereum is one of the most widely-adopted cryptocurrency projects worldwide. Yet, it’s hated worldwide for its sky-high gas (transaction) fees. Users globally constantly complain about the coin’s terribly-high transaction prices on various social media platforms.

Shockingly, Santiment, an on-chain and metrics platform, published on Twitter a report showing Ethereum’s transaction prices plummeting to their lowest.

The Ethereum Platform

Ethereum is a distributed, permissionless, and open-source blockchain that provides users access to a smart contract. It is the second-largest blockchain by market capitalization, following crypto giant Bitcoin.

Related Reading | Bitcoin Dominance Remains High As Market Sell-Offs Settle

Remarkably, Ethereum offers a p2p (peer-to-peer) network that verifies and executes codes within the platform, known as Smart Contracts.

Ethereum GAS Price

On the Ethereum network, users are charged some amounts to perform any transaction, buying, selling, swapping, minting, etc. Ethereum previously had a ridiculous record for having very high gas fees for its transactions.

Recently, the crypto giant began offering meager transactional charges to its users, as recorded by Santiment. Santiment is a financial market content and data platform for blockchains and cryptocurrencies.

The metric platform took to Twitter the news of Ethereum’s meager transaction prices. As of Tuesday, 24th May, the second-largest blockchain had a transaction price of $2.54 a transaction.

What’s Next For Ethereum

(Source: Santiment)

According to Santiment, this is the lowest the transaction fees have been since last July. Therefore, it may be unique for ETH prices. Historically, ETH coin prices usually leap once the average transactions drop below $5. Ethereum’s average gas fees have plummeted, breaking its 10-months low.

Nevertheless, traders still need to be careful while trading and transacting with the crypto because the market is presently disadvantaged. Thus, a considerable leap might not occur given the current global bearish market.

Various crypto pundits and financial analysts project that Bitcoin is about to dip massively, predicting a further dip. Mike Novogratz was among the “prophets of doom” for the world’s leading blockchain and crypto.

Ethereum Gas Fees Touch New Lows, What's Ahead For Ethereum
ETH price on the brink of falling below $1,700 | Source: ETHUSD on TradingView.com

Novogratz, a financial investor, took to Twitter, stating that further dips await Ethereum and Bitcoin and the entire DeFi market. In his tweet, he emphasized that 2022 will not be so favorable for investors and traders.

Related Reading | Perp Traders Remain Quiet As Bitcoin Struggles To Hold $30,000

Noting that Bitcoin controls the value of the entire DeFi marketplace, if Bitcoin dips, being the most significant blockchain, the whole market dips. This includes the Ethereum blockchain.

Featured image from Pexels, chart from TradingView.com



Source link

Terra 2.0 (LUNA2) Deposits and Withdrawals Start Now

Terra 2.0 (LUNA2) Deposits and Withdrawals Start Now

We are pleased to announce that Kraken now supports Terra 2.0 (LUNA2).

Funding and Trading

You can add LUNA2 to your Kraken account by navigating to Funding, selecting the asset, and hitting Deposit. Trading is live. Keep an eye on our status page for updates.

Here’s what you need to know:

Ticker LUNA2
Tradeable against EUR, USD
Price precision 5 decimal places for EUR and USD
Minimum order size 5 LUNA2
Minimum deposit 0.1 LUNA2
Deposit confirmations required Near instant
Not available in Japan
Services available Kraken, the Kraken Pro interface

What is Terra 2.0?

Terra 2.0 is a decentralized, open-source public blockchain protocol resulting from a community-supported separation of the original Terra blockchain. Born from the Terra Ecosystem Revival Plan 2 and built with interoperability in mind, the Terra 2.0 network will inherit Terra Classic’s developer pool. LUNA2 is the native token used for governance of the network.

LUNA2 airdrop

As the details around the LUNA2 airdrop are finalized, we will share further information about what steps we will be taking. Additional updates will be posted separately in the Kraken Support Center.

We intend to distribute the new Terra 2.0 token (LUNA2) to all eligible users based on the Terra project team’s token distribution plan:

Category Snapshot  Criteria to receive LUNA2 Distribution 
“Pre-attack” 2022-05-07 14:59 (UTC) Held or staked less than 10,000 LUNA Distribution of 30% of the total amount received before 2022-05-31 08:30 (UTC);

Distribution monthly of the remaining 70%, vesting over 24 months from December 2022.
Held or staked 10,000-999,999 LUNA Distribution monthly, vesting over 24 months from June 2023 onward.
Held or staked 1,000,000 LUNA or more Distribution monthly, vesting over 48 months from June 2023 onward.
“Post-attack” 2022-05-26 16:38 (UTC) LUNA and/or UST holders Distribution of 30% of the total amount received before 2022-05-31 08:30 (UTC);

Distribution monthly of the remaining 70%, vesting over 24 months from December 2022 onward.

Trade with caution

There is no guarantee that a limit order will execute. There is also no guarantee a market order will execute at a certain price. The availability and liquidity of the particular digital asset will impact these types of orders.

Listing an asset or token for trade is not a recommendation to buy, sell or participate in the associated network. Do your own research and invest at your own risk.

These materials are for general information purposes only and are not investment advice or a recommendation or solicitation to buy, sell, or hold any digital asset or to engage in any specific trading strategy. Some crypto products and markets are unregulated, and you may not be protected by government compensation and/or regulatory protection schemes. The unpredictable nature of the cryptoasset markets can lead to loss of funds. Tax may be payable on any return and/or on any increase in the value of your crypto assets and you should seek independent advice on your taxation position.



Source link

Dvision Network Announces Binance Custody as Its Custodian With DVI Token Supported – Press release Bitcoin News

Dvision Network Announces Binance Custody as Its Custodian With DVI Token Supported – Press release Bitcoin News

press release

PRESS RELEASE. In another groundbreaking achievement, the blockchain-based metaverse platform Dvision Network has just announced its official onboarding on Binance Custody. As such, Binance’s custody services arm will support deposits and withdrawals of Dvision’s native token, DVI, on its platform. The support for DVI token on Binance Custody will be provided in a cross-chain manner, adding support for both ERC-20 and BEP-20 versions of the Dvision’s native token.

What is there to know?

Through the Binance Custody’s official Twitter account, it has been announced that it is currently accepting DVI token deposits and withdrawals for Dvision Network on its custody service. Binance Custody’s platform is undergoing an independent SOC 2 audit to validate its operational security. With that in mind, Binance employs safe MPC (multi party computation) to disperse control over client funds, thereby significantly reducing the dangers associated with centralization.

Moreover, Dvision Network has established itself as an initiative that values security and transparency in token administration, having previously offered cold storage services using Coinbase Custody early last year. With the latest announcement concerning Binance Custody, the network looks to expand its global influence and continue to offer safe and exciting products, features, and services.

What benefits do DVI holders get?

Thanks to the aforementioned onboarding, DVI token holders may now safely store their DVI tokens in Binance Custody’s offline, cold storage facility. Furthermore, Binance Custody provides institutional investors with the capability to run a completely compatible storage service that can safely store virtual currencies through the use of cutting-edge technology, security breakthroughs, and innovative procedures.

In addition, Binance Custody announced it had secured cold storage insurance in March. This insurance protects cryptocurrency stored in cold storage against named peril. It is underwritten by Arch Syndicate 2012 at Lloyd’s of London and brokered by the world’s largest independent insurance brokerage Lockton Companies’ specialist team LEAP (Lockton’s Emerging Asset Protection)

About Dvision

Based on blockchain technology, Dvision Network is an NFT metaverse network that aspires to be the greatest in the entire industry. Dvision Network uses its own virtual reality technology to build a cutting-edge metaverse environment, decreasing entry barriers for all types of users globally. As a result, designers, companies, and general users may partake in a truly dynamic and memorable metaverse experience. Visit Dvision’s website, Telegram, Medium, and Twitter channels for additional information and frequent updates.

 

 

 

This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

Bitcoin.com Media

Bitcoin.com is the premier source for everything crypto-related.
Contact ads@bitcoin.com to talk about press releases, sponsored posts, podcasts and other options.

Image Credits: Shutterstock, Pixabay, Wiki Commons

(function(d, s, id) {
var js, fjs = d.getElementsByTagName(s)[0];
if (d.getElementById(id)) return;
js = d.createElement(s); js.id = id;
js.src=”
fjs.parentNode.insertBefore(js, fjs);
}(document, ‘script’, ‘facebook-jssdk’));



Source link

Cardano Slides Below $0.50 Alarming A Danger Ahead

Cardano Slides Below $0.50 Alarming A Danger Ahead

Cardano is among the cryptocurrencies with higher impacts due to significant price slides. Price volatility remains one of the substantial discouragement and threat of virtual currency. Their swing in price could go beyond ten times in a single minute. A positive price move is always a favorable trend for a token and its investors. However, a price drop could pose a danger for both.

The general crypto markets have been witnessing more downward trend recently. This has left several tokens on an expected price level even as some investors make massive sell-offs. Cardano seems to have entered a state of instability following its critical price drop. Its slide on Thursday went below its possible support level. Without any rise in trading volume in the crypto market, Cardano will suffer more losses.

Cardano is now fighting dangerously from its drop position as it’s beyond the supporting mark. Though it had a previous market cap ranking as the eighth cryptocurrency, the token had made a 7% drop in the last 8 hours.

The price of Cardano has now fallen below its $0.50 support mark. Hence, its liquidation has raised more than $1.40 million from crypto derivatives exchanges. If the selling pressure increases, there would be a higher probability of more difficult restoration.

Analytical Study Of Cardano For Support Level

ADA’s last 4-hour price chart analysis depicts a release from a symmetrical triangle. Its Y-axis pattern for height represents a 33.5% drip for the token as its price falls below the support level. Using a candlestick close that could reflect the 4-hour trend would hit below the 50% level of Fibonacci retracement at $0.45. This will possibly bring the confirmation of the negative price trend.

Where there’s a continuation of the pattern, ADA could maintain a downward trend that reaches $0.34 or $0.32. By closely observing its movement on May 12, the token moved to $0.38. This could eventually become its possible support level if it makes more downward moves.

If there’s continuous trading of ADA below $0.46, the bears will benefit more. It’s possible to revert the negative appearance of the price drop for the token. This would require a break on the resistance barrier using a candlestick close for 4-hour experimentation.

Cardano price trading below $0.46 | Source: ADAUSD on TradingView.com

Also, cutting off some of the supply processes could spike ADA’s number of buying orders. Hence, the token’s price may reach $0.61 as it moves up.

The crypto market now harbors many uncertainties, doubts, and fear within the past few weeks. The Fear and Greed Index report shows increased levels of negativity within investors and other participants in the crypto market.

Following the technical and on-chain indicators, there could still be hope for Bitcoin. This is because the token is yet to get a fully blown negligence from participants.

Featured image from Pexels, chart from TradingView.com



Source link

Bitcoin network difficulty falls 4.3% to 29.897T, biggest drop in 10 months

Bitcoin network difficulty falls 4.3% to 29.897T, biggest drop in 10 months

The Bitcoin network witnessed a historic event on May 12 when the network difficulty attained its all-time high of 31.251 trillion as miners mined nearly 50,000 BTC of the remaining 2 million tokens.

While the Bitcoin community rejoiced the added resilience to the network owing to the rising difficulty in mining a Bitcoin block, the network difficulty recorded a drop of 4.33% — falling from 31.251 trillion to 29.897 trillion on May 26.

As Cointelegraph reported on several occasions, Bitcoin’s network difficulty consistently achieved all-time highs over the past ten months as it recovered from a massive drop of 45.4% — from 25.046 trillion on May 29, 2021, to 13.673 trillion on July 22, 2021.

Ever since then, Bitcoin’s network difficulty witnessed a total growth of 128.56% as it surged to its all-time high. However, despite the momentary decline of over 4%, the BTC ecosystem is still guarded by the most secure blockchain network.

Higher network difficulty demands higher computational power to validate and confirm transactions over the BTC blockchain. As a result, this prevents bad actors from taking over the network by contributing to over 50% of the hash rate and carrying out double-spending attacks.

Related: Falling Bitcoin price doesn’t affect El Salvador: ‘Now it’s time to buy more,’ reveals Deputy Dania Gonzalez

Cointelegraph recently interviewed Dania Gonzalez, Deputy of the Republic of El Salvador, to better understand the social impact of adopting BTC as legal tender.

According to Gonzalez, El Salvador made profits via strategic BTC investments and repurposed the fresh funds to build infrastructures like a veterinary hospital and a public school.

“What Nayib Bukele did was buy Bitcoins and make a profit at a certain strategic moment,” she said.

The Bitcoin (BTC) network broke its 10-month-long streak as the network difficulty recorded a drop of 4.33%, standing at 29.897 trillion at the time of writing.



Source link