Opinion

According to Tehran Times, Iran Energy Ministry spokesman Mostafa Rajabi stated that cryptocurrency miners using household electricity in Iran would face a "heavy fine." Besides the "heavy fine," those captured by the government will also pay for the harm to the electricity supply in the country. Crypto mining is one of Iran's two most significant electricity threats this year. As has reduced the power produced by hydropower plants due to lack of rain, Rajabi added. In light of these questions,…

Get the weekly summary of cryptocurrency market trends, news, and forecasts! This Week’s Summary The Crypto Market ends the week at a total market capitalization of $2,304 trillion. Bitcoin loses nearly 15% over the week after Elon Musk announced that Tesla wouldn’t accept BTC payments anymore. Ethereum is down by 1% despite setting a new ATH this week. XRP is up by almost 4% after a highly volatile week. Binance Coin lost more than 9% of its value over the…

For Dogecoin (DOGE) holders, the times couldn't be more exciting. Buoyed by endorsements from the likes of Elon Musk and Mark Cuban, the so-called joke coin has appreciated sharply in value. And it seems that the interest it had generated isn't waning anytime soon. Coinbase, U.S's popular crypto exchange platform, has announced plans to list DOGE in the coming weeks. Accelerating Asset On-Boarding According to Coinbase's CEO Brian Armstrong, the exchange is working to accelerate its assets onboarding process. Among…

Earlier this week, the CEO of Tesla said his company would no longer accept payment for cars in Bitcoin, which led to its price crashing and took down other cryptos with it. A day after, Square also revealed it did not intend to purchase more Bitcoin from its corporate treasuries after losing 20 million dollars on its $220 million investment last quarter in the cryptocurrency. Mr. Musk said the environmental issues of cryptocurrency were too strong, but he did not…

Facebook-backed Diem might launch this year based on a recent report. The report, citing a source undisclosed, said the Diem Association plans to launch a small pilot with a single "stablecoin," pegged to the US dollar, later this year. The association has indicated that it has relocated its significant activities to the United States from Switzerland. It has also withdrawn its application to the Swiss Financial Regulator for payments. CNBC also said that if Diem's pilot is introduced this year,…

Ether prices are rising, supported by robust Decentralized Finance (DeFi) output. Considering that it didn't exist a few years ago, the overall ecosystem value rose almost 90 trillion dollars, an outstanding performance.  Maker, Aave, and Compound TVL have increased to over $10 billion, with over 17 projects having TVLs over $1 billion. ETH prices are also increasing as investors expect the most recent US inflation. In general, there are predictions that the price of supply shortages, higher commodities, and the…

Get the weekly summary of cryptocurrency market trends, news, and forecasts! This Week’s Summary The Crypto Market ends the week at a total market capitalization of $2,375 trillion. Bitcoin calls it even with a measly 0.4% loss in value over the week. Ethereum is up by 28% after setting yet a new ATH. XRP is down by almost 7% after a rough week. Binance Coin increased by more than 5% throughout the week. The DeFi sector added more than $16billion…

A Californian court has granted the regulator leave to seek transactional information from crypto exchange Kraken in a significant victory for the IRS over tax cheats. "John Doe" Summons The decision by the  U.S District Court for the Northern District of California paves the way for the IRS to issue Kraken a "John Doe" summon on its investors' information. A John Doe summons does not name them, owing to the anonymity of parties under investigation. While issuing the summons, the…

VanEck Associates Corp. seeks approval from the U.S. Securities and Exchange Commission (SEC) to establish an exchange-traded fund called "VanEck Ethereum Trust." If VanEck's proposal is approved, the VanEck Ethereum Trust will allow retail and institutional traders to gain exposure to the world's second-largest cryptocurrency by market cap without requiring them to invest in it directly. It could also value its shares daily based on the MVIS CryptoCompare Ethereum benchmark rate. This would be the first U.S.'s ether ETF, but…