Stablecoins invest in cryptocurrency mining, fake tweets re-move markets, Binance customer executives are kidnapped and robbed! This week we bring you these stories and more in cryptocurrency. Stablecoins move to Bitcoin mining Leading stablecoin issuer Tether is investing $500 million in its Bitcoin mining operations to become one of the world’s largest miners. The company is building mining facilities in Central and South America with ambitious plans to contribute 1% of Bitcoin’s overall network computing power. Tether disclosed a $3 billion cash surplus in its latest certification report. Bitcoin ETF decision expected to be delayed Amid growing expectations of approval,…
Author: Crypto Flexs
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Binance’s Bitcoin holdings fell by $200 million after the cryptocurrency exchange and its former CEO Changpeng Zhao pleaded guilty to U.S. federal charges. Although CZ paid bail, prosecutors are attempting to keep him in the United States until he is sentenced. Bitcoin has been moving from Binance to Coinbase since yesterday, based on on-chain data collected by CryptoQuant. The research firm recently found that Coinbase’s reserves decreased by 5,000 BTC compared to Binance, while Coinbase’s reserves increased by about 12,000 BTC. Due to legal concerns, analysts believe retail investors are pulling money out of Binance and this is driving this…
UNI prices rose more than 25% and rose above $6.20. Uniswap is now consolidating gains and a near-term downside could be attractive for bulls. UNI started a new rally above the $5.20 and $6.00 resistance levels. The price is trading above $5.80 and the 100 simple moving average (4-hours). A breakout occurred above the main bearish channel with resistance near $5.25 on the 4-hours chart of the UNI/USD pair (data source from Kraken). The pair may correct lower, but the bulls may become active near the $5.60 and $5.55 levels. UNI price regains strength After forming a support base above…
Comparing Bitcoin’s market capitalization to that of publicly traded companies often made me cringe in frustration. Attempting to compare the world’s first successful digital native currency to a single industry, let alone a single company, is narrow-minded. But as I continued to surrender to the process of meeting people who were on their Bitcoin journey, I realized I could use this comparison to explain Bitcoin’s strengths in a different way. Rather than attempting to conceptually elevate Bitcoin to the level of a global currency, we propose conceptually bringing the global currency down to the level of a public company. This…
Ripple’s XRP cryptocurrency is headed for a significant price surge, potentially reaching $1 as whale accumulation hits its highest level this year, according to on-chain analysis. The surge pushed XRP to a three-month high and surpassed Binance Coin to become the fourth-largest market capitalization amid a broader cryptocurrency market rally. XRP dominates the cryptocurrency market with its outstanding 24-hour performance. In a notable rally, XRP rose 8.5% to $0.67, outperforming major cryptocurrencies Bitcoin and Ethereum over the past day. This significant price movement was accompanied by a dramatic increase in trading volume, jumping from $1 billion to $2.7 billion.…
Ethereum (ETH) price briefly retested $1,930 on November 21, before rising slightly on November 23 and maintaining support above the $2,000 level. Over the past week, the price of Ethereum has risen 2.5%, while the overall market capitalization has risen 0.5%. This upward trend can be attributed to improved decentralized application (DApp) metrics, increased protocol fees, and Ethereum’s dominance in the non-fungible token (NFT) market.To assess whether Ethereum can sustain the $2,000 price range, we need to consider the impact of Binance’s recent regulatory issues following its appeal negotiations with the U.S. Department of Justice (DoJ).As Ethereum network conditions improve,…
To conduct cryptocurrency activities legally: Cryptocurrency License, available in many countries around the world. However, each state has its own requirements. Some regions have a more loyal attitude towards virtual currencies, while others have stricter requirements. Let’s take a look at the most favorable jurisdictions for licensing.introductionCryptocurrency business is trending among investors. Therefore, many people are looking to invest capital to open a cryptocurrency company. Each country has some requirements for this. But it all starts with company registration. After registering and opening a bank account, you can begin the licensing process. This may take anywhere from 2-3 weeks to…
Cardano price has been strong in recent weeks, jumping to its highest level since July and surpassing the important $0.3000 level. At the time of writing, the price of ADA was trading at $0.3200. In particular, altcoins recorded a rise of 9.82% over the past week and are up more than 20% so far this month. The total market capitalization of its assets rose about 2% over the past day to $11 billion, ranking it 8th.Day After Solana. ADA rally Cardano price has recorded significant gains over the past few weeks, driven by surprising on-chain data and broad market bullish…
Bankrupt cryptocurrency exchange FTX suddenly moved $36 million worth of altcoins to major exchanges, according to on-chain data. According to on-chain analytics firm Lookonchain, FTX transferred Huge amounts of Polygon (MATIC) and Avalanche (AVAX) are supplied to top cryptocurrency exchanges Coinbase and Binance. “In the last 24 hours, FTX transferred a total of $36 million in assets to the exchange. Deposited 12.6 million MATIC ($9.4 million) at Coinbase. Deposited 10 million MATIC ($7.45 million) to Binance via FalconX. Deposited 975,859 AVAX ($19.25 million) to Binance via FalconX.” Polygon is trading at $0.78 at the time of this writing, up 5%…