Crypto
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Bitcoin will be 100% green by 2030 says Hass McCook
Transition to green Bitcoin mining will not only mitigate environmental impact but will also be cost-effective for miners Hass McCook, a member of the Bitcoin Mining Council (BMC) stated that he believes that the cryptocurrency mining industry is on track to reach zero emission by 2030. The expert, known online as Friar Hass, told CoinTelegraph that immersive cooling technology will play a key role in assisting Bitcoin’s transition to green mining. The comments come amid reports of rising concerns among regulators across the world on the environmental impact of allowing Bitcoin mining in their jurisdiction. China has already begun a crackdown on mining operations over the last two months with many provinces preventing hydroelectric plants from supplying power to crypto miners. In New York,...
Monthly report: Bitcoin hits a new all-time high above $67k
The cryptocurrency market experienced rapid growth this month, with the total market cap reaching the $2.8 trillion mark for the first time. Bitcoin reaches a new all-time high at $67,200 The crypto market performed excellently this month, with the prices of most coins increasing in value by double-digit percentages. Bitcoin was one of the biggest winners this month, reaching a new all-time high above the $67,000 a few days ago. This is the first time the leading cryptocurrency is setting a new all-time high since April 2021. The cryptocurrency’s price could soar higher in the coming weeks and months if the market momentum can be sustained. Ether, the second-largest cryptocurrency, also reached a new all-time high this month. ETH touched the $4,416 level a few hours ago thanks to the Altai...
Shiba Inu price analysis: SHIB stays above $0.00007
The cryptocurrency market underwent a correction earlier this week, with Shiba Inu one of the top performers during that period. The crypto market is recovering from its recent correction, with the prices of most coins up by more than 1% over the past 24 hours. Bitcoin is trading above the $61k level after dropping below the $59k mark earlier this week. Ether set a new all-time high above $4,400 a few hours ago after rallying by more than 10% over the past 48 hours. The rally comes just a few days after Ether dropped below the 4,000 level. The other leading cryptocurrencies are also rallying at the time of this report. Shiba Inu has been one of the top performers over the past week, rising by more than 160% in the last seven days. The rally saw Shiba’s market cap grow to nearly $40 billion...
MicroStrategy added 9,000 BTC last quarter, its stash is now worth $7 billion
MicroStrategy added almost 9,000 Bitcoin to its holdings in Q3, bringing its total BTC stash to a valuation of around $7 billion. The company highlighted the purchase of 8,957 BTC in its Q3 report on Oct. 28, with the firm’s perma-bull CEO Michael Saylor stating that there is more BTC accumulation to come: “Today, MicroStrategy is the world’s largest publicly traded corporate owner of Bitcoin with over 114,000 Bitcoins. We will continue to evaluate opportunities to raise additional capital to execute on our Bitcoin strategy.” The software firm has increased its Bitcoin holdings by 198% since the same period last year, and as of Sept. 30 the total stood at 114,042 BTC with an estimated average purchasing price of $27,713 per coin, or a total spend of $3.16 billion. On paper, Microstrategy p...
Cathie Wood’s ARK snaps up $80M Robinhood shares after crypto led price dip
ARK Invest, the investment management firm focused on innovative tech led by Cathie Wood, took advantage of a dip in the price on Wednesday to buy nearly $80 million worth of Robinhood stock. As per daily trading data, Wood’s ARK purchased a total of 2.24 million shares of Robinhood across three of Ark’s ETF funds, with the majority of shares going to the flagship fund ARK Innovation ETF. Robinhood now accounts for 1.33% of the Innovation ETF. On Oct. 27, the trading platform had declared a 78% decline in crypto revenue — from $233 million in Q2 to $51 million in Q3 — which drove the share price down below its July IPO price of $38. The stock is down more than -11% since the start of the week, from $39.85 on Monday 25 Oct. to $35.47 as of market close Thursday 28 Oct. Following the earning...
Immersive cooling tech could help Bitcoin mining go green by 2030
Immersive cooling technology may help with the transition to zero-emission Bitcoin mining Bitcoin Mining Council (BMC) member Hass McCook told Cointelegraph. McCook, known online as Friar Hass, believes the industry is on track to hit the goal by 2030. Immersive cooling involves submerging Bitcoin mining ASICs into a specialized cooling fluid, which absorbs and recycles heat from the data center. This method of Bitcoin mining increases productivity. Earlier this month, Bitcoin mining company Riot Blockchain announced that it will be developing 200 megawatts of immersion-cooled Bitcoin mining infrastructure at its Whinstone Facility. Based on the company’s preliminary immersion-cooling test results, it expects hash rate to increase by 25%, and ASIC performance to increase by up to 50%...
Ethereum hits new ATH after Altair upgrade shows clear path to the merge
The price of Ethereum (ETH) has bounced to a new all time high (ATH) today as it hit $4,400.97 at around 1:02 am UTC, according to the ETH/USD price indexs on Coinbase and Coinmarketcap. At the time of writing, ETH is currently priced at $4,380, with the asset surging around 46.6% since the start of October. Coinmarketcap’s price index indicates that the previous ATH was only eight days ago, with the asset reaching a price of $4,308.48 on Oct. 21. ETH has been on a bullish tear since dropping to around $1,780 on July 21, and has since gained 147% to rise to a new point of price discovery. ETH/USD Chart October: Coinmarketcap Cointelegraph reported yesterday that the Ethereum 2.0 Altair Beacon Chain update had a successful start, with 98.7% of nodes upgraded at the time. A successful Altair...
Blockchain platform Alchemy raises 250M in Series C led by Andreessen Horowitz
San Francisco-based blockchain web services company Alchemy announced a $250 million Series C fundraising round led by Andreessen Horowitz on Thursday, bringing its current valuation to $3.5 billion. This announcement comes hot on the heels of a late April $80 million Series B, which previously valued the startup at $505 million. Pantera Capital, Redpoint, Lightspeed Venture Partners, Coatue, DFJ and Lee Fixel’s Addition also participated in the Series C round. According to founders Nikil Viswanathan and Jon Lau, the company is “very profitable” and thus far, has not spent any of that money, but plans to use the new capital to build a community around blockchain. Alchemy was founded in 2017 but didn’t launch its product until August of 2020. According to reporting from TechCrunch, th...
More than 40 digital currency ETFs await US regulatory approval
Fund managers appear to be scrambling to match demand from investors as major cryptocurrencies such as Bitcoin (BTC) and Ether (ETH) teeter around record price levels. According to a Bloomberg Terminal screenshot taken by Bloomberg Intelligence analyst James Seyffart, over 40 cryptocurrency exchange-traded funds, or ETFs, are now awaiting listing in the United States. The source indicated that four have already been approved by the Securities Exchange Commission, the most notable of which is the Ark 21Shares Bitcoin ETF, created in a joint effort by 21 Shares and ARK Invest. The latest fund applications came from AXS Investments on Oct. 27. They are the AXS Bitcoin Strategy ETF and the AXS Short Bitcoin Strategy ETF. The vast majority of funds pending listing seek to purchase BTC dir...
3 reasons why Curve (CRV) price is trending toward a new 1-year high
This week cryptocurrency traders turned their focus to the pack of dog-themed meme tokens as altcoins like Shiba Inu and Dogecoin (DOGE) saw a surge in volume which resulted in SHIB hitting a new all-time high and the remaining Dogecoin clones booking some juicy gains. Traders are now debating whether the launch of the first Bitcoin (BTC) exchange-traded fund (ETF) kicked off the next leg of the bull market or if meme-tokens rallying is a top signal. While SHIB, DOGE and Samoyedcoin are the hot flavor of the week, there are other tokens which are equally bullish and posses stronger fundamentals. Take for example, Curve protocol’s native CRV token which broke to a near yearly high earlier this week. Data from Cointelegraph Markets Pro and TradingView shows that since hitting a l...
Decentralized design platform Moralis raises $13.4M in seed funding from EQT Ventures
Moralis, a platform that powers decentralized applications, or DApps, announced Thursday that it has received a $13.4-million investment from EQT ventures. The company said that it expects to use this seed capital for product development and corporate expansion. Moralis seeks to provide the blockchain space with a unique user-friendly interface solely for front-end development, while the company and its developers handle the entire back end. The software can also provide complex services such as node management, authentication and transaction indexing — which are needed for cross-chain networks, layer-two solutions and Web 3.0 applications. Moralis, which has been active since June, was founded in 2020 by CEO Ivan Liljeqvist (also known as Ivan on Tech) and Chief Operating Offic...
Cream Finance loses $130 million to yet another flash loan attack
The attack has severely compromised funds in Cream liquidity provider tokens and other Ethereum-based tokens In what is being termed as the largest theft in the Decentralised Finance sector, Cream Finance has confirmed that it has fallen victim to a large flash loan exploit in which the hacker stole over $130 million. The incident marks at least the third major attack on the DeFi lending protocol since the beginning of 2021. The flash loan attack was first identified by blockchain data analytics company PeckSheild. Cream Finance later tweeted notifying that an exploit on the C.R.E.A.M. v1 on Ethereum was being investigated. The negative outpour from the crypto community regarding the Taipei-based decentralised firm’s inability to safeguard user interests forced Cream Finance to shut down i...
