Crypto mining data center company Compute North is the latest casualty in the ongoing harsh crypto winter that has of late forced some of the biggest crypto companies to close shop. Compute North filed for Chapter 11 bankruptcy in the United States Bankruptcy Court for the Southern District of Texas on Friday, citing mounting pressure […]
Popular crypto analyst Michaël van de Poppe thinks one overlooked digital asset is the “opportunity of a lifetime.” Van de Poppe tells his 627,800 Twitter followers that the decentralized oracle network Chainlink (LINK) is a huge opportunity priced between $6-$8. Chainlink’s native asset LINK is trading at $7.26 at time of writing. The 25th-ranked crypto […]
The prices of cryptocurrencies are depleting over time as the market goes through a bearish cycle. Metaverse projects like Decentraland (MANA) and others have also faced a severe decline, while the “Internet of Blockchains,” Cosmos (ATOM), also keeps up its red run. In such a situation, crypto traders search for some newly rising crypto projects […]
While the crypto collapse keeps the market in a bearish state, several coins offer great prospects for traders and crypto asset holders. Big Eyes Coin (BIG) is approaching launch as presale events progress. The token promises to be a stable with its protocols. However, before getting to Big Eyes Coin, let’s review some promising token […]
From waiting for Bitcoin prices to go lower to hoping that the fun goes on, community members shared their thoughts on crypto prices.
Weak bullish movement in ATOM market ATOMUSD Price Analysis – September 23 ATOM may break up the resistance level of $14 provided the bulls increase […]
The fall of Terra was an eye-opener for many. The “algorithmic” generation of crypto assets has been equated to creating money out of magic, and […]
Cardano’s newest hard fork is the blockchain’s most significant update since adding smart contract functionality last September.
It’s high time to move the discussion on Bitcoin user interfaces and experience over to nodes.
Believe it or not, the Proof-Of-Stake Ethereum is a reality. Those crazy kids really did it. To celebrate the achievement, Bitcoinist turns the mic to the captains of the industry. It’s time for the TALKING HEADS to discuss one of cryptocurrencies’ most important news of the year. This time, we kept the question vague and […]
According to this banking insider, the governments have it all wrong. Bitcoin is one of the least private assets out there, and they should change policies for the pendulum to swing the other way. In the banking insider’s opinion, instead of protecting them, the governments have been harming their citizens with the current draconian measures. […]
Ethereum’s recent upgrade has pushed miners out of its network. Now Ethereum 2.0 support validators who staked 32ETH and above in the network. The community expected the merge to push the price of ETH and other cryptos up. But the reverse became the case afterward. Related Reading: Ethereum: Can The Top Altcoin End Bitcoin’s Dominance Post Merge? A few minutes after the event on September 15, Bitcoin lost $1K. Ethereum also lost more than $200, plummeting from $1,635 to $1471 same merge day. The next few days, on September 18, ETH price shaded off more and landed on $1335.33. Currently, on September 21, Ethereum is trading at $1344.45. This price shows a 0.17% price decrease in 24 hours. Its hourly gain shows 0.17%, but the 7 days price movement indicates a 15.91% loss. Ethereum Miners Dump ETH Holding Increasing Pressure Recall that Ethereum is no longer operating with a proof of work consensus mechanism. The combination of its Beacon Chain and mainnet has rendered miners useless on the network, replacing them with validators. Even though the miners hard-forked the network creating the ETHPOW, the new network has suffered attacks and is not yet as strong and promising. The crypto market expected a price reversal from bearish to bullish after the Ethereum upgrade. But after the event, the ETH price dropped, and the supply of ETH increased. This is not surprising because miners started disposing of their ETH coins before the merge. Ethereum miners initially gained 13,000 ETH every day on the PoW network. But on the new PoS, validators get only 1600 ETH. Miners’ rewards dropped by 90% after the merge, which could have lowered ETH supply advantageously, pushing the price upward. Unfortunately, Ethereum miners have dumped up to 30K ETH holding due to the price movement and the upgrade effect. This was the reason behind Ether’s price plunge from Merge day. The continuous selling added pressure on investors causing more price losses. The current state of crypto assets is not promising. Many enthusiasts are also dumping their holdings as prices continue to plummet. What is the Implication for Ethereum? As miners continue dumping their ETH on the market, the price of Ether will keep falling. Even though the other factors that could have boosted the price remain positive, miners’ exit from the Ethereum market has worsened everything for ETH. Currently, many analysts are predicting that Ethereum might drop to $750. If the miners continue selling spree coupled with the macroeconomic factors, that price level will likely occur soon. Related Reading: Post-Merge Profit-Taking Cuts 13% Off Ethereum Ratio Against BTC Moreover, the upcoming Feds rate hike is causing panic already. Many investors dread the announcement as it might make the market bullish or bearish. If the rate stays 75 bps, there’s no problem. But the market is in trouble if it goes high to 100 bps. Featured image from Pixabay and chart from TradingView.com
The Federal Reserve hiked interest rates by three-quarters of a percentage point for the third consecutive time, sending Bitcoin below $19,000.
Pantera Capital CEO Dan Morehead says that three overlooked crypto projects are showing impressive strength in the face of an overall downtrend in the digital asset markets. In a new CNBC interview, Morehead says that he sees cryptocurrency as a disruptive technology that will see billions of new users arrive to regardless of short-term volatility […]
Ansel Lindner explains the thinking behind the chess moves of the biggest powers in the world and what these moves mean for bitcoin and global markets.