Bitcoin

The Audit by Mazars Shows Binance Is Overcollateralized

The Audit by Mazars Shows Binance Is Overcollateralized

Binance was the first large crypto exchange to react to the FTX debacle by hiring an external auditor to prove that the company does not have any solvency issues and that its assets match its liabilities in a way that indicates good business conduct. People who have money with this exchange exhaled after the report of Mazars was partially published. While it is not a 100% indication that the exchange is solvent, it is still a very good sign for the industry. 101% in in-scope assets controlled by Binance The auditors made a snapshot of all reserves available to the…
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Multiple Companies Reimagine Themselves And Distance From FTX

Multiple Companies Reimagine Themselves And Distance From FTX

There is no doubt that the FTX debacle has been a game-changer for the whole crypto community and revealed core issues that all businesses must address to remain competitive and retain their reputations. While the collapse of one of the biggest crypto exchanges did create some commotion in various circles, it did not disturb the market to a degree that many experts predicted. Many coins managed to weather the storm just fine and held to their support levels despite losing some value. The reaction of the industry Many companies operating in the domain decided to take action immediately even if…
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Modest Drop in BTC Mining Difficulty Expected Soon

Modest Drop in BTC Mining Difficulty Expected Soon

Bitcoin mining difficulty was further boosted on 20th November by 0.51% when blocks were at the height of 764,064. Although the increase was little yet it allowed the network to see its difficulty level reaching its forever best so far. Since 20th November though Bitcoin’s hashrate is approximately 249.1 exahash per second (EH/s). Longer Block Time Consequences The present block time Bitcoin average range of 10.2 to 11.06 minutes is currently lower than its normal range. However, intervals between the blocks have gapped significantly since the difficulty was last modified on 20th November. Prior to 20th November, and from 29th…
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Lead Digital Currencies BTC And Ethereum Technical Analysis

Lead Digital Currencies BTC And Ethereum Technical Analysis

Global trade markets, particularly the ones in the US, are reacting positively to the minutes of the FOMC’s latest meeting as a result of which Ethereum’s value went past $1,200. The minutes of the meeting suggested that interest rates though be increased yet not so exorbitantly but lesser than the previous months. Bitcoin’s performance however was relatively unchanged as neither there were any prominent gains or declines. Bitcoin’s Reaction to FOMC’s Minutes Federal Open Market Committee’s (FOMC’s) meeting had taken place and the minutes have been recorded and circulated too. The minutes of the meeting revealed that a small increase…
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Investors Should Be Worried As 10,000 Bitcoin Have Just Been Moved

Investors Should Be Worried As 10,000 Bitcoin Have Just Been Moved

Just when the overall cryptocurrency industry started witnessing a recovery, an alarming revelation has been made about 10,000 Bitcoin (BTC). Bitcoin is also among the assets that had recently started moving in a positive direction. Unfortunately, a recent revelation pertaining to the movement of 10,000 BTCs has increased fear among BTC investors. A Dormant Wallet is on the Move According to the crypto market observing firms, a wallet that had been dormant for many years has finally made a move. The status of the wallet is ‘unknown’ as it hasn’t been established to whom the wallet belongs. However, it has…
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Report From Analysts Shows Cryptocurrency Industry Would Survive FTX Contagion

Report From Analysts Shows Cryptocurrency Industry Would Survive FTX Contagion

In May 2022, the Terra ecosystem suffered from a massive crash and even now, its impact has lingered with the entire crypto industry. However, several months after the crash, the majority of the cryptocurrency industry had started to recover. Just when it seemed that things were indeed getting on the right track, the FTX incident happened. As a result, the entire cryptocurrency industry’s recovery was badly interrupted. To some extent, the crypto market’s overall recovery was restarted. This means that the industry would need even more time to recover from the downtrend. As per many market analysts, the crypto market…
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High Confidence in Litecoin May Help LTC Surge to $75

High Confidence in Litecoin May Help LTC Surge to $75

Just as the year 2022 is coming to an end, a great amount of growing interest is being witnessed for Litecoin (LTC). It is the second-oldest cryptocurrency was launched back in 2011 and ranks second to Bitcoin (BTC) in the particular category. The asset is reportedly becoming one of the most attractive digital currencies in recent weeks. It has been witnessing a significant boost and it has largely avoided the impact that came from the FTX crash. The situation is becoming quite favorable for Litecoin as the halving of the asset approaches in the third quarter of 2023. Let us…
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Bitcoin And Ether Investors Are Still Traumatized By FTX Crash

Bitcoin And Ether Investors Are Still Traumatized By FTX Crash

The fallout of the FTX crash seems to be much more than the market analysts had expected. Despite the FTX Token (FTT), the native token of FTX taking most of the damage, other cryptos are also badly affected. This is not a good sign for the entire cryptocurrency because if the trauma of the FTX crash does not go away, the entire crypto industry may continue suffering. Bitcoin and Ethereum Feel the Pressure Even the two largest cryptocurrencies are not able to save themselves from the FTX catastrophe. Bitcoin and Ethereum continue losing their investors as they have been losing…
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Despite Widening Fallout Of FTX, Bitcoin Price Has Managed To Sustain $16k

Despite Widening Fallout Of FTX, Bitcoin Price Has Managed To Sustain $16k

On the Thursday trading session, the trading price of most of the cryptocurrencies ended up facing a downtrend. This happened because of a great financial void created by the FTX exchange. After FTX officials announced they had faced an unrecoverable loss, it became the largest disaster in 2022. Right after FTX’s announcement, several companies started to reveal that they were exposed to FTX. Initially, multiple entities refused or did not admit they were exposed to FTX. As the financial void kept growing bigger and regulators started from all over the world started launching investigations against the crypto firms, they admitted…
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Strong Comments from Elon Musk Help in Boosting Weakening Price of Bitcoin

Strong Comments from Elon Musk Help in Boosting Weakening Price of Bitcoin

Despite taking a huge fall in the past week, things have recovered a bit for Bitcoin (BTC). With the initiation of the new week, the trading price of Bitcoin started under $17,000. As per many market experts, it is a fortunate thing for Bitcoin that its price has climbed higher throughout the last weekend. Otherwise, it could have started the new week at around $14,000. A Plunge Followed by a Rally As the news started rotating about FTX’s bankruptcy, the entire crypto industry was devastated. The investors kept on withdrawing their funds from the crypto exchanges and other trading firms.…
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Trading Price of LINK Expects a 50% Correction as Chainlink Witnesses a Plunge

Trading Price of LINK Expects a 50% Correction as Chainlink Witnesses a Plunge

The price of the native token of the Chainlink network “LINK” ended up taking a fall in the recent trading session. The market downtrend has continued harming the trading price of LINK, bringing its trading price down to an alarming level. On November 8, a major downtrend took place that reportedly pulled the trading price of the entire crypto-verse. Like the rest of the major tokens such as Bitcoin and Ether, LINK also found itself being an unfortunate asset. LINK Price Plunged 10% On that particular day, LINK’s trading price dipped by almost 10%. Following the plunge, the trading price…
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In 12 Months, Energy Usage Of Bitcoin Surges 41%, Regulatory Risks To Rise

In 12 Months, Energy Usage Of Bitcoin Surges 41%, Regulatory Risks To Rise

The energy consumption for Bitcoin (BTC) has continued rising and the growth rate has been significantly higher in the running year. YoY Increase in Energy Consumption According to data, the year-over-year (YoY) energy consumption for mining Bitcoin has increased significantly. Although there has been a lot of stress to introducing energy-efficient means for Bitcoin mining, still, energy consumption has increased. Governments from around the world have been asking to introduce sustainable and diverse energy sources. Still, the rise in Bitcoin energy consumption has raised many concerns. For the running year, a 41% increase has been recorded in the energy consumption…
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Moscow Sees Massive Growth in Number of Bitcoin-Powered ATMs

Moscow Sees Massive Growth in Number of Bitcoin-Powered ATMs

Not even the war has been effective in curtailing the growth of crypto activity in Russia, particularly in Moscow. Instead, the interest in digital currencies and activities relating thereto have increased tremendously in Russia. Recently, Moscow saw massive increase in the number of Bitcoin-powered automated teller machines (ATMs). An editorial was also published in the daily Russian newspaper namely “Kommersant” which recorded the phenomenal growth. Currently, there are several hundred Bitcoin-powered ATMs that have been rendering digital teller services throughout Russia. However, the biggest chunk of such machines are installed in Moscow, the capital of Russia. The massive growth in…
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Number Of Global Bitcoin ATMs Reaches 38,804

Number Of Global Bitcoin ATMs Reaches 38,804

The first Bitcoin ATM in the world was made available to the public on October 29th, 2013, and was operated by Robocoin. It was founded in Vancouver, Canada in a coffee shop downtown, and in the first week of its operations, the automated teller machine (ATM) saw a total of 348 transactions conducted, which were valued at $100,000. Numbers rise Nine years later i.e. on October 30th, 2022, the first crypto ATM has either been replaced or removed and Robocoin is no longer operating. However, this does not mean that crypto ATMs do not exist. As a matter of fact,…
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Google Shares Data That Shows Bitcoin Is Losing Traction While Web3 Is Gaining Popularity

Google Shares Data That Shows Bitcoin Is Losing Traction While Web3 Is Gaining Popularity

Over time, the interest of the internet community has started to fade in favor of Bitcoin (BTC). However, people are curious to know as much as they can about the new technology ‘Web3’. Google Shares Interesting Trend Details Google has recently shared its data about the interest of the existing and potential cryptocurrency community in Bitcoin and other crypto market trends. The data shared by Google is quite interesting and goes to confirm that the interest of the crypto community has finally started to shift from Bitcoin. The cryptocurrency industry has been around for more than a decade. Since 2009,…
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Bitcoin Price Is To Hit $30,000 In November, Claims An Analyst

Bitcoin Price Is To Hit $30,000 In November, Claims An Analyst

One of the Bitcoin and crypto analysts has recently shared his predictions about the Bitcoin movement in near future. He has shared his speculations about the direction he sees Bitcoin’s price move. Van de Poppe’s Bullish Prediction Van de Poppe, a senior crypto analyst has stated that given the current situation of Bitcoin, it is highly like for a bullish run to take place. He stated that the bets are more toward the bullish side than on the bearish side. According to the analyst, the largest cryptocurrency is set for a major jump in its value in the coming weeks.…
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Interest Rate Hike By Feds Has Unsettled Bitcoin Market As It Falls To 1-Week Low

Interest Rate Hike By Feds Has Unsettled Bitcoin Market As It Falls To 1-Week Low

On October 21, the trading price of Bitcoin ended up falling near $19,000. Although the bulls tried their best to rebound the trading price of Bitcoin, the bears did not give them enough room to fight back. Therefore, the trading price of Bitcoin continued declining and fell below the $19,000 level. Rumors Surrounding the US Feds The decline was recorded as the Bitcoin market was unrest due to the rumors that the US Feds were still sticking with their strategy. The US Feds have no desire of reducing the interest rates. Instead, they want to proceed with more rate hikes,…
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Fidelity Has Announced It Is To Offer Clients Trading And Custody In ETH

Fidelity Has Announced It Is To Offer Clients Trading And Custody In ETH

Fidelity Digital Assets has reportedly made an announcement of offering new services to its clients. The asset manager, which is responsible for the management of $4.5 trillion in assets is getting into crypto. Fidelity Investments Enters Crypto Fidelity Digital Assets officials announced that they would provide their clients with access to trading services and custody of Ether (ETH). The officials confirmed that Fidelity Digital Assets would not be dealing with the crypto sector directly. Instead, it would let its cryptocurrency wing ‘Fidelity Investments’ do the job. Fidelity Investments aims to launch the service the by end of this month. Fidelity’s…
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Exchange Traded Fund For Bitcoin To Be Liquidated Close To October’s Conclusion, Announces Valkyrie Funds

Exchange Traded Fund For Bitcoin To Be Liquidated Close To October’s Conclusion, Announces Valkyrie Funds

One of the major fund managers for cryptocurrencies in the United States ‘Valkyrie Funds’ recently had a sad announcement for the crypto community. The fund manager announced that they have decided that they will proceed with the liquidation of the exchange-traded fund (ETF) for Bitcoin. As per communication, Valkyrie Funds wants to do it by the end of October. Valkyrie Funds to Liquidate Bitcoin ETF On October 11, the officials at the Valkyrie Funds took to Twitter and other social media platforms to communicate the company’s decision. On that particular day, Valkyrie Funds announced that they have made a final…
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Grayscale Launches Grayscale Digital Infrastructure Opportunities To Invest In Bitcoin Hardware

Grayscale Launches Grayscale Digital Infrastructure Opportunities To Invest In Bitcoin Hardware

Grayscale Investments has made an announcement in regards to launching a new subsidiary that is to focus on the crypto mining segment. The responsibility of the particular subsidiary would be to invest in mining opportunities that involved Bitcoin and mining hardware. Mining Investment Subsidiary On October 6, Grayscale made the announcement about launching a new subsidiary that would be dedicated to creating and investing in digital infrastructure opportunities. The name of the new subsidiary has been founded based on the segment it would target. The main purpose of the subsidiary would be to invest in mining hardware for Bitcoin. According…
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