BTC

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 $267 billion. Bitcoin failed to go over the $10K level, and it ends the week trading in the red. Ethereum decreased by 2.5% over the past week but looking to surge again. XRP lost more than 4% and fell below $0.20 again Fears of a second wave of COVID-19 infections have shaken the markets…

After being dubbed as a climate warming accelerator, Bitcoin is about to change sides and fight climate change. Is it possible for an industry that spends almost 0.13% of the world’s annual power consumption only on mining Bitcoin to become eco-friendly? And, if so, how will it go about it? Today, we take a closer look at the challenges that cryptocurrency faces in its bid to become “green.” We delve into alternatives to the energy-devouring mining process and how the…

Another cryptocurrency has been assigned an emoji on Twitter and it is not ETH, USDT, XRP or any other top cryptocurrency as numerous individuals were anticipating ETH to get it following BTC. The new Twitter emoji was assigned to cryptocurrency payments platform Crypto.com. Anytime anyone types the hashtag #CRO, the emoji will appear automatically. This makes the firm’s native cryptocurrency the second coin to be assigned an emoji on Twitter following BTC. However, what makes this feature worthwhile is the…

Part of the Bitcoin stolen by hackers from a hack against cryptocurrency exchange Bitfinex in 2016 has been moved. The hackers did not touch the funds worth millions of dollars for about four years. The movement of the funds was noted by Whale Alert, a Twitter bot that tracks the movement of large trades. It was carried out in twenty transactions and the value of each transaction was between 18 and 33 Bitcoin. The transaction with the lowest value was worth $184,868 while the highest was worth…

A recent report by TokenInsight noted that China is losing its dominance over the Bitcoin mining industry. The report released by the cryptocurrency analytics company cited data from Cambridge University’s Centre for Alternative Finance. According to the data, the aggregate electricity usage of Bitcoin miners from China was 75.63 percent in September last year and it declined to 65.08 percent by April 2020. During the same period, the data revealed that electricity consumption from Bitcoin miners in the United States rose from 4.06 percent to 7.24 percent. Similarly, it seems Bitcoin mining…

In Japan, a cryptocurrency company Freessets has announced a new technology for the enhancement of Bitcoin wallet privacy. The top enterprise cryptocurrency wallet provider came up with the new technology using a protocol in cryptography known as Private Information Retrieval (PIR). The technology was implemented using a customized version of Microsoft SealPIR which is among the PIR implementations. Microsoft SealPIR uses Microsoft SEAL, which is an entirely homomorphic encryption library. Based on the announcement on June 8, it is now possible for…

The impact of the outage that ensued on Coinbase platform on June 1 affected Coinbase.com, pro.coinbase.com, as well as their mobile applications. On June 6, Coinbase released a post mortem regarding the outage that happened just as Bitcoin attained $10k price level. The exchange noted that trading through the API which accounts for the majority of trading volume, remained functional throughout this time. They were quick to discover what caused it and remediated the issue. In the blog post, the US-based…

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 $274 billion Bitcoin jumped to almost $10,500 mid-week but slumped back to $9,400 support Ethereum is pushing against the $245 resistance level for another week XRP falls below $0.20 and loses (again) its 3rd position in the market cap table to Tether Cardano surprises the market with a spectacular increase of 35% Most legacy…

The performance of Bitcoin received a boost on June 1 as it incurred an upside momentum that led to a rally from $9.5k to a high of $10.4k, representing a $900 gain in a few hours. After such a move, analysts flipped bullish on the benchmark asset. Some market participants were expecting Bitcoin to slip following such a powerful breakout. Based on the expectations of a few traders, it slipped as it traded against the sentiment of the majority. It…