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Bitcoin and Ethereum Trim Losses, AAVE & SUSHI Outperform
17.5.2021
Bitcoin price extended its decline towards the key USD 42,000 support. BTC tested USD 42,200 before it started a recovery wave. It is currently (12:20 PM UTC) back above USD 45,000 and is showing signs of a possible further recovery.
Similarly, most major altcoins are inching higher. ETH traded...
Brazilians Can Now Bet on President Bolsonaro’s Reelection Bid on FTX
17.5.2021
Crypto derivatives exchange FTX has launched a futures contract that allows Brazilian voters and traders in jurisdictions where the platform is available to bet on the outcome of Brazil’s next presidential election. With health and financial crises looming in the country, Jair...
Fundstrat's Tom Lee Boosts Bitcoin Target 25% Despite Musk's Criticism
17.5.2021
Tom Lee. Source: a video screenshot, Youtube/Bloomberg.
Tesla’s recent declaration it would no longer be accepting bitcoin (BTC), paired with bearish statements by its CEO Elon Musk, have done little to shake the certainty of investment research firm Fundstrat Global Advisors. The New York-based...
Bitcoin price metric flashes rare 'buy the dip' opportunity at $42K lows
17.5.2021
NVT is a "buy the dip" opportunity that few ever get access to this week, one analyst says as BTC/USD stays in the mid-$40,000 range
Almost all major Bitcoin mining pools now signaling for Taproot activation
17.5.2021
The largest Bitcoin mining pools are signaling for Taproot but the activation may not reach the 90% critical consensus mark during this current difficulty epoch
‘Crypto Crisis Summit’ in South Korea – as No Ministry Wants to Take Charge
17.5.2021
Crypto policy has been placed at the top of the government’s agenda in South Korea – where ministries are eager to pass the buck on crypto-related matters, a "crisis" meeting involving the nation’s most powerful lawmakers has been held and new legislation is set to be put before...
Crypto Miners Using Household Electricity Face Fines as Consumption Spikes in Iran
17.5.2021
Those who mine cryptocurrencies with power intended for domestic use will pay hefty fines, the Iranian government warned. The country is experiencing shortages due to reduced hydropower generation as authorities register a surge in electricity consumption for cryptocurrency mining. Crypto Miners...
Elon Musk tweets BTC price bottom? 5 things to watch in Bitcoin this week
17.5.2021
It's all about Elon as Twitter provides the backdrop to an ongoing battle between hodlers and the "Dogefather."
Bitcoin and Ethereum usage fees drop 70–80% as market slide continues
17.5.2021
Transaction fees are falling rapidly on Bitcoin and Ethereum, as the coin prices of both recede from recent peaks
Banking system consumes two times more energy than Bitcoin: research
17.5.2021
According to Galaxy’s estimates, the annual energy usage of Bitcoin stands at 114 TWh, while the banking industry consumes over 260 TWh each year
Elon Musk Discloses ‘Tesla Has Not Sold Any Bitcoin’
17.5.2021
Amid speculation over the weekend that Tesla may have sold its bitcoins, CEO Elon Musk has clarified that the electric car company “has not sold any bitcoin.” The Technoking of Tesla got into a heated debate with the bitcoin community Sunday after he announced that Tesla has suspended...
Bitcoin Value Plunged as Bears Take Over Market
17.5.2021
The recent fall in Bitcoin prices has again given a platform for sceptics to doubt the long-term viability of the cryptocurrency. No doubt, asking about the long-term sustainability of Bitcoin in the wake of constant up and down is a legitimate question as continuous turbulence and tumultuous price...
Bitcoin market dominance falls to three-year low of 40%
17.5.2021
Altcoins have risen to a three-year dominance high after tagging a record combined capitalization of nearly $1.5 trillion last week
Kenya Based Technology Firm Switches to Pancakeswap, Cites High Gas Fees on Uniswap
17.5.2021
In its bid to help users avoid high gas fees on Uniswap, a Kenya-based fintech firm, UTU, recently launched a liquidity pool on the decentralized exchange (dex), Pancakeswap. This launch enables prospective UTU coin buyers to acquire the token “with low fees and fast confirmation...
Elon Musk hints Tesla may offload BTC, goes to war with crypto Twitter
17.5.2021
Tesla’s CEO is duking it out with the crypto community on Twitter after Musk appeared to suggest the electric vehicle manufacturer will dump its BTC holdings this quarter
Liquidations Soar As Ethereum, Alts Bleed More Than Bitcoin Amid Musk’s Remarks
17.5.2021
Bitcoin price failed to remain stable above the USD 48,000 support zone. BTC started a fresh decline and it broke the USD 45,000 support zone. It is currently (04:50 UTC) showing bearish signs.
Most major altcoins declined more than 10%. ETH broke the USD 3,500 support zone and it could even test...
Investors Confuse Ethan Allen With Ethereum: Shares up 50% Over Average Price
17.5.2021
Ethan Allen, a U.S.-based furniture company, has been getting strange traction in markets this year, due to an interesting coincidence. The company’s stock ticker is the same as ethereum’s ticker, something it shares with one of the hottest cryptocurrencies right now. This has caused...
Shiba Inu Crypto Investors Turn Multimillionaires After Almost Jobless, Relying on Stimulus Checks
17.5.2021
Two brothers have shared the story of how they became millionaires after investing in Shiba Inu, the cryptocurrency nicknamed “dogecoin killer,” for just under two months. Before the investment, the covid-19 pandemic almost killed their business, and the government’s stimulus...
Banking System Uses Significantly More Energy Than Bitcoin, Research Shows
17.5.2021
A new report shows that the banking system consumes more than twice the amount of energy that bitcoin does. The authors analyzed bitcoin’s energy usage and compared it to the banking and gold industries. Banking System Consumes Much More Energy Than Bitcoin Galaxy Digital published a report...
Here's how Bitcoin's intraday volatility complicates leverage trading
17.5.2021
Derivatives exchanges offer up to 100x leverage, but traders must consider how Bitcoin's intraday volatility increases their liquidation risk