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Nigerian Vice President Says Current Naira Exchange Rate ‘Artificially Low’
12.10.2021
Nigerian Vice President Yemi Osinbajo recently warned that the country’s official naira exchange rate of N411 for every dollar is artificially low. This exchange rate, according to Osinbajo, discourages foreign exchange entrance into the country. Naira Exchange Rate Must Reflect Realities...
What Bitcoin correction? BTC price holds $55K despite several bearish indicators
9.10.2021
Bitcoin price refuses to pull back despite Bollinger Bands and Fear and Greed pointing to an overheated rally
Amount of ETH held by miners reaches highest level since 2016
8.10.2021
Ethereum miners are reluctant to sell their assets and appear to expect further price increases
Seoul to Hold Firm on Crypto Tax Launch, Suggests NFT Tax May Follow
7.10.2021
dozen or so non-big four crypto exchanges are allowed to go bust.A number of online petitions have called on the government to reverse its bid to begin taxing crypto trading profits at a flat rate of 20% from January 1. Seoul will order tax filings from anyone earning over USD 2,1
Lawmakers in Kazakhstan Propose Registration for Crypto Farms, Higher Electricity Rate for Miners
7.10.2021
Members of the parliament in Kazakhstan have proposed the establishment of a state register for cryptocurrency farms operating in the country. Alarmed by the growing consumption of energy in the sector, the lawmakers also want to charge miners a higher price for the electricity they use. Mazhilis...
Pro traders cut their EOS longs, but retail FOMO and $50K+ BTC could tip the scale
6.10.2021
On paper, EOS has great fundamentals, but derivatives markets suggest traders don’t feel the same about the altcoin’s price potential
Hash rate and difficulty rebound shows miners have recovered from China exodus
5.10.2021
Bitcoin mining profitability is up 275% since before the May 2020 halving
Nigerian Lawmaker Proposes Closure of All Domiciliary Accounts in Order to Save Imperiled Naira
30.9.2021
Nigerian lawmaker Ibrahim Obanikoro has called on Nigerian authorities to “close all domiciliary accounts for the next 12 months.” Such a move, he argues, will help to ease pressure on the naira, which has depreciated by more than 10% in the past two months. The Naira’s...
Traders sit idly by as Ripple (XRP) price struggles to avoid a drop to $0.70
29.9.2021
Like other large-cap legacy altcoins, XRP is stuck in a rut, and data suggests investors are content just to sit and watch
Bears apply the pressure as Bitcoin price revisits the $41K ‘falling knife’ zone
28.9.2021
Bitcoin traders say $43,600 needs to be regained to restore the bullish uptrend, but BTC futures and options data are showing signs of distress
Signs of fear emerge as Ethereum price drops below $3,000 again
28.9.2021
Traders have yet to flip bearish on Ether price, but the recurrent drops below $3,000 increase the likelihood of a sentiment flip
Bearish Bitcoin fractal with 78% success rate flashes as BTC drops below $43.5K
27.9.2021
The flagship cryptocurrency closed the previous week below its 21-week exponential moving average for the 19th time in history, triggering additional selloff risks
Bitcoin Price to Face Another Test as Central Banks Eye Rate Hikes
24.9.2021
t central bank in a Western developed nation to do so following the onset of the pandemic, Norway’s central bank, the Norges Bank, this week hiked its interest rate from 0% to 0.25%, citing a need to “begin a gradual normalization of the policy rate” as the economy is “normalizing.” “The
Bitcoin mining difficulty surges 31% since July
22.9.2021
Mining new Bitcoin keeps getting harder, but the current difficulty is still far from its record highs
Key Bitcoin options 'fear' indicator reflects traders' regulatory concerns
22.9.2021
On Tuesday, SEC Chair Gary Gensler re-confirmed his plan to crack down on cryptocurrencies, and traders’ regulatory concerns are confirmed by this key Bitcoin futures and options indicator
Miners have accumulated $600M worth of Bitcoin since Feb
21.9.2021
Bitcoin miners appear reluctant to sell their BTC as hashrate increases despite the recent sell-off
Nigerian Central Bank Threats Force Parallel Exchange Rate Tracker to Suspend Service
20.9.2021
Following threats from the Central Bank of Nigeria (CBN), the management of Abokifx, a website that tracks the Nigerian currency’s black market exchange rates, has announced the suspension of their daily updates. This suspension will remain in effect until Abokifx gets “better clarity...
South Korean Ruling Party Squabbles over Crypto Tax
17.9.2021
tax code, which will see a flat rate of 20% tax levied on crypto tax profits of over USD 2,100 a year. If unamended, this change will come into force on January 1, 2022.But the ruling Democratic Party is wary of a backlash from angry voters aged 20-39 – the backbone of the party’s support –
Nigerian Currency Plunges to New Low of 570 — 10% of Value Lost in Under 30 Days
17.9.2021
The Nigerian currency, the naira, plunged to a new all-time low of N570 for every dollar on September 16, 2021. This new exchange rate means since August 17, the naira has now lost about a tenth of its value on the foreign currency black market. Naira Overvalued In spite of this plunge, which...
Ethereum After 1559: Network Participants Burn Over 300,000 Ether Worth More Than $1 Billion
16.9.2021
On August 5, 2021, the Ethereum network and its participants successfully completed the highly anticipated London upgrade, which saw the implementation of the Ethereum Improvement Proposal (EIP)-1559. Since then, 303,681 ether worth more than a billion U.S. dollars have been burned. More Than 300K...