Bitpanda announces layoffs citing no compromise on product quality
Witnessing the crypto crashes over the past several weeks from a front-row seat, Bitpanda made the “tough decision” of cutting down its employee headcount to roughly 730 people.
Storj (STORJ) – A Relatively Unheard Crypto – Leads Gainers With 30% Rally
The price of STORJ (pronounced “storage”) has increased by a little over 30 percent in the last 24 hours. According to CoinMarketCap, STORJ, an ETH token, is the 88th largest coin by market capitalization. The token experienced a significant increase thanks to the NFT update on Friday. STORJ reached an all-time high of $0.97, a 43 percent rise from its 24-hour low. Currently, the coin is selling at $0.9273, an increase of a remarkable 30.73 percent in the last 24 hours, according to statistics from CoinMarketCap. Additionally, its market capitalization soared from $245 million the day before to $371 million as of today. STORJ is a platform for shared cloud storage. Instead of sending files to massive data centers, users can just store them in independent computers of the host. STORJ Gets Strong Backing Two requirements must be met to qualify as a host: a solid and speedy internet connection and terabytes of storage space. Users can make money by storing the files of others on their computers. An announcement about major businesses embracing STORJ to store unique tickets, music, sports NFT assets, and gaming caused a sharp increase in the token’s price. Europa Labs, Amuzed, and Ultimate Division are the company’s newest NFT customers. Suggested Reading | Top 5 Cryptos Taking A Major Beating In The Ongoing Market Mayhem Crypto total market cap at $941 billion on the daily chart | Source: TradingView.com Amuzed is a blockchain-based music gaming platform that allows users to listen to their favorite artists’ music using NFTs. Ultimate provides participants with a soccer-themed metaverse game in which they can earn Ultimate Division Tokens (TKDS), whereas Europa Labs wants to improve the computational capabilities of clients on their preferred data platforms. Suggested Reading | Cosmos (ATOM) Price Swells 12% – Can It Breach Resistance? Green Candles Show Bullish Potential Similarly, 24-hour trading volume for STORJ has surged by more than 100 percent, reaching $408,455,560 – an increase of 127.94 percent. Examining the STORJ/USDT daily chart, the price of STORJ has displayed green candles since June 13. This trend persisted with small retracements on the daily chart until Friday, when the token recorded its highest green candle of the move. In the last 10 days, the price of the asset has increased by 130 percent, from $0.4005 to its current level of $0.80. It remains to be seen whether the relatively unheard crypto will be able to sustain this growth in the future or if it will be just another “one-hit” wonder. Featured image from CyberBump, chart from TradingView.com
The Small Cap Altcoins That Ethereum Whales Are Bullish On
As the large cap coins have continued to suffer losses, Ethereum whales have now turned their focus to smaller cap altcoins in a bid to try to squeeze out some profit from the bear market. These coins are previously unknown outside of their community niches but these large investors are bringing them to the forefront. […]
Bitcoin network power demand falls to 10.65GW as hash rate sees 14% drop
The Bitcoin network recorded the year 2022’s lowest power demand of 10.65 gigawatts (GW). At its peak, the BTC network demanded 16.09 GW of power.
Crypto downturn sees electricity consumption on Ethereum plunge by 50%
Electricity consumption on some of the biggest crypto networks dropped by as much as 50%, as depressed token prices forced miners to shut shop, according to the Guardian.
The post Crypto downturn sees electricity consumption on Ethereum plunge by 50% appeared first on CryptoSlate.
Crypto miners dump GPUs as token prices fall
According to PC Gamer, crypto miners are dumping their GPUs in increasing numbers as token prices falter during the downturn.
The post Crypto miners dump GPUs as token prices fall appeared first on CryptoSlate.
Bitcoin miner ‘capitulation event’ may have already happened — research
Investigative work argues that on-chain metrics are proving miners have capitulated, while whales appear to be lone Bitcoin dip-buyers.
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