3 reasons why Ethereum may underperform Bitcoin in the short-term

Ether could take longer than 12 months to regain ground versus Bitcoin due to increased uncertainties surrounding the shift to ETH 2.0 and reservations from institutional investors. Ether (ETH) price outperformed Bitcoin (BTC) by 173% from March 28 to May 15. The incredible bull caused the token to reach a $4,380 all-time high. However, as cryptocurrency markets initiated a sharp drop on May 12, the trend started to reverse, and since then, Ether has underperformed by 25%.Some might say it is a technical adjustment after a strong rally. While this partially explains the move, it excludes....

Figuring Out How Much Bitcoin Hashrate Resides in Mainland China Still a Mystery

Over the last few weeks, there have been many reports about crackdowns in China tied to bitcoin mining operations in various provinces. 30-day statistics show the hashrate has been fluctuating wildly, and across the last week it has slid downward roughly 26%. Reports Show Bitcoin Mining Crackdowns in Five Chinese Provinces Despite the slide, the top three mining pools in the world, which represent roughly 41% of the hashrate today, are considered Chinese mining pools. This doesn’t necessarily mean the mining pools actually host physical bitcoin mining facilities in mainland China,....

Bitcoin under threat, El Salvador rejected, Mark Cuban stung, McAfee ‘has not...

Coming every Saturday, Hodlers Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more a week on Cointelegraph in one link.Top Stories This Week Hawkish Fed comments push Bitcoin price and stocks lower againThe crypto markets had started the week with a spring in their step.Last Sunday, Elon Musk revealed that Tesla would be prepared to accept Bitcoin as a payment method again once it could be proved that 50% of the energy used by miners comes from clean,....

Major Media Wants In: CNN and Fox Are Entering NFTs

In the past year, we’ve seen top-tier brands, major league sports teams, celebrities and the like embrace the NFT landscape. Now, major traditional media companies are seeing the light. This week, CNN and Fox are starting their own respective NFT projects. The CNN NFT: Showcasing Newsworthy Moments CNN has announced their first NFT project, “Vault […]

More Than Two Dozen Crypto ATMs to Be Installed in Texas-Based H-E-B Grocery ...

H-E-B shoppers will soon be able to obtain digital assets at more than two dozen locations in Texas. Coin Cloud, a crypto automated teller machine (ATM) provider, says 29 H-E-B stores will feature kiosks that provide access to more than 30 crypto assets including defi tokens and stablecoins. H-E-B Stores in Texas to Host Coin Cloud Digital Currency ATMs 29 H-E-B locations will soon have cryptocurrency ATMs at their disposal. The machines will be provided by Coin Cloud, a digital currency ATM provider based in Las Vegas, Nevada. Coin Cloud calls its devices “digital currency....

Bitcoin Mining In China To Usher Historic Moment, Will BTC Be Affected?

Sino Global Capital has been posting reports on Bitcoin, China, and the changes that are taking place within the Asian Giant. Today, most of the BTC miners in the Chinese province of Sichuan will turn off their machines. This has created another variable in the already uncertain crypto market. At 0:00 on June 20, the […]

Data suggests the strong US dollar makes Bitcoin weaker argument is flawed

Analysts and traders are linking Bitcoin's bearish turn with the growing strength of the U.S. dollar, but data suggests otherwise. At the moment, there seems to be a general assumption that when the U.S. dollar value increases against other global major currencies, as measured by the DXY index, the impact on Bitcoin (BTC) is negative.For the past few weeks, analysts and influencers have been issuing alerts about this inverse correlation, which held true until March 2021.So I guess we're not all obsessed with $DXY anymore? Because it's looking super bullish & had provided an almost perfect....

The Quickest Way To Achieve Financial Freedom Is With Bitcoin

Upon realization of the idea of liberty, it is immediately thrust into reality, never to be forgotten by those having experienced it.I believe that the Founding Fathers of the United States inscribed the idea that liberty is inherent to life in the Declaration of Independence. While they made an astounding first step in declaring this, there has been, since the uprising of technology, a necessity of this in monetary form. I believe that bitcoin is the codification of monetary liberty. Like the Declaration of Independence, Bitcoin was set into existence from the very moment it was realized;....

$3.6 Billion Crypto Heist: South African Bank Denies Business Relationship Wi...

According to local media, leading South African financial institution FNB is denying allegations of a banking relationship with the recently collapsed crypto investment company, Africrypt. FNB also insists it did not enable the investment company’s transactions which helped Africrypt’s two directors disappear with billions of dollars in investor funds. Disappearance of Investor Funds The financial institution’s denial comes nearly two months after Africrypt abruptly stopped operating. At that time, the crypto investment firm’s management claimed Africrypt’s....

Canada’s Hive Blockchain Technologies approved for Nasdaq listing

The Canadian miner with a focus on green energy should be available to trade in the coming weeks. While the SEC continues to slow-roll the listing of a Bitcoin ETF, traders on legacy exchanges eager to get some exposure to crypto will soon have another outlet. In an announcement on Friday, Canada’s Hive Blockchain Technologies revealed that it has received approval to list shares on the Nasdaq stock exchange. Hive currently trades on the TSX Venture Exchange under the ticker HIVE.V, and focuses on both Bitcoin and Ethereum mining. HIVE is excited to announce today that it has received....

How PayrLink Will Revolutionize Private Transactions and Online Disputes

In an ever more growing digital world, PayrLink is the decentralized solution that enables people to make secure and zero-knowledge proof transactions without the need to trust a single third party, service, or individual. This dApp grants users access to a cost-efficient escrow service with an arbitrates feature. As a result, anyone can use PayrLink […]

How Bitcoin Could Be Affected By Powell’s Testimony Next Week, Will BTC Crash...

Bitcoin has taken another hit. The first cryptocurrency by market cap lost support in the high area around $30,000 and currently struggles to maintain to the mid area. At the time of writing, BTC trades at $36,120 with losses across the board. Bitcoin has negatively reacted to the announcements made by Jerome Powell, Chairman of […]

EarnX Is Changing the Game with NFTs

It’s not often that NFT platforms come into the picture that offers the value of tangible utility that can be put to use quickly. Enter EarnX, a subsidiary of Yearn Classic Finance that is looking at NFTs in an entirely new way. EarnX is taking RFID technology and intertwining blockchain tech to revolutionize NFTs. They […]

Indian Rapper Raftaar to Be Paid in Cryptocurrency for Upcoming Performance i...

Indian rapper Raftaar is reportedly accepting cryptocurrency for his upcoming performance in Canada. “Nevertheless, I’ve finally taken the baby steps in this direction and all the credit goes to my manager, Ankit Khanna for making this dream a reality for me,” Raftaar said. Raftaar, an Indian rapper, lyricist, dancer, TV personality and music composer, made headlines this weekend for being the “first Indian artist to accept performance fee in cryptocurrency.” Raftaar’s real name is Dilin Nair. The performance for which Raftaar will be paid in....

A RUNE with a view: How smart crypto traders caught a 48% price pump

THORChain and Kyber provide the perfect examples of how quant analysis and breaking news can help cryptocurrency investors to capitalize on volatile markets. Disparities in information access and data analytics tech are what give institutional players an edge over regular retail investors in the digital asset space.The core idea behind Markets Pro, Cointelegraph’s crypto intelligence platform powered by data analytics firm The TIE, is to equalize the information asymmetries that permeate cryptocurrency markets.Markets Pro bridges the gap with two world-class functionalities: the....

Indian ‘Crypto King’ Arrested by Narcotics Control Bureau — Wazirx Says Not O...

India’s Narcotics Control Bureau (NCB) has arrested a Mumbai resident known as “crypto king,” who allegedly used bitcoin to purchase narcotics on the dark web. Indian cryptocurrency exchange Wazirx says the accused is not one of its customers. ‘Crypto King’ Arrested in India A Mumbai resident, Makarand Pardeep Adivirkar, also known as “crypto king” in the country’s underground drug circuit, has been arrested by India’s Narcotics Control Bureau (NCB). He allegedly used bitcoin to purchase drugs on the dark web that were delivered to....

Flare Finance to Integrate XDC Across All Products

In a massive development, Flare Finance has announced that XinFin Network’s native token XDC will be integrated across all its products. Flare Finance will list XDC against all its F-Assets which at this point in time include FDOGE, FXRP, FADA, FALGO, FLTC, FBCH and FXLM. With FlareWrap integration, XDC would be bridged to Flare Network, […]

Ethereum faces largest ever options expiry as bears appear to dominate

A record number of Ether options is set to expire on June 25 as ETH looks to BTC to reverse its price momentum. Ether (ETH) faces its largest options expiry ever on June 25 as nearly $1.5 billion out of $3.3 billion notional open interest (OI) in ETH options will expire. June’s expiry has over 638,000 ETH options contracts in its purview, accounting for 45% of the total open interest in these options.Although it’s the largest options expiry in the history of the derivative product, the open interest in ETH options OI hit its all-time high of nearly $5.5 billion on May 20 soon after ETH had....

Flare Finance Announces Partnership with XinFin Network

Flare Finance has announced a partnership with XinFin Network which could be one of the most significant events of crypto space in 2021. While a lot has been spoken about interoperability and bridging communities, Flare Finance is on the way to becoming the epicentre of communities. With this partnership, Flare Finance and XinFin Network would […]

GBTC Redemptions Stealing Bitcoin Spot Demand

As the Grayscale Bitcoin Trust trades at a discount, demand won't be reflected in the bitcoin price.The below is an excerpt from a recent edition of the Deep Dive, Bitcoin Magazine's premium markets newsletter. To be among the first to receive these insights and other on-chain bitcoin market analysis straight to your inbox, subscribe now.The Grayscale story is very well known at this point. It's an open-ended trust that found a workaround to the U.S. Securities and Exchange Commission’s (SEC’s) egregious regulations and figured out a way to deliver bitcoin exposure to institutional capital....

El Salvador And Bitcoin: Jack Mallers Reveals The Inside Scoop

It might be the biggest story of 2021. Since El Salvador made Bitcoin legal tender, all eyes are on the Central American nation. Strike’s Jack Mallers was the person that delivered this world-shattering news. The exclusive closed the Bitcoin 2021 conference in Miami, talk about leaving on a high note.  Related Reading | Bitcoin Incentivizes […]

Basketball Players in Canada to Be Paid in Bitcoin

CEBL, the Canadian men’s basketball league, will offer its professional basketball players the option to receive a portion of their salary in cryptocurrency. The new payment option has been enabled through a partnership with the Canadian cryptocurrency exchange Bitbuy. Bitbuy to Convert Canadian Dollar Salaries Into Bitcoin The Canadian Elite Basketball League (CEBL) announced the deal with Bitbuy days before the start of its third season, on June 24. The league, which was founded four years ago, launched in 2019 with six teams, all of them owned and managed by the Canadian....

Smart contracts and the law: Tech developments challenge legal community

Regulators will be challenged to respond to and address smart contracts, as they represent a cross section of law and technology. Smart contracts are an important element of the blockchain revolution, although they predate blockchain. According to most sources, it was Nick Szabo who coined the term “smart contract” in the 1990s. The mechanism of a vending machine has since been frequently given as an example of a basic smart contract based on if-then logic. The payment into a vending machine triggers an irrevocable automated action from when money is retained to when an item is....

Bitcoin may lose $30K price level if stocks tank, analysts warn

Downside risks for BTC price are also heightened due to the recent dollar bounce. The ghost of stock market crash is back again to haunt Bitcoin (BTC).It happened last in March 2020. Back then, the prospect of the fast-spreading coronavirus pandemic led to lockdowns across developed and emerging economies. In turn, global stocks crashed in tandem, and Bitcoin lost half of its value in just two days.Meanwhile, the U.S .dollar index, or DXY, which represents the greenback's strength against a basket of top foreign currencies, has now climbed by 8.78% to 102.992, its highest level since....

Spanish Deputies File Proposal to Accelerate the Creation of a Digital Euro

A group of Spanish deputies filed a proposal that seeks to accelerate the implementation of a digital euro. The proposal, presented on June 8, asks for the creation of a group to study the implementation of a digital currency in the Eurozone. This study group, if created, would be aided by the Bank of Spain. However, the issuance of a digital euro is still under study by the European Central Bank (ECB). Spanish Deputies File Proposal to Accelerate the Digital Euro A group of Spanish deputies from the Socialist Party introduced a no law proposal to accelerate the issuance of a digital euro.....

Beyond the hype: NFTs’ actual value is still to be determined

NFTs present a revolutionary and innovative technology, but their real value has been obscured by hype. It's 2021. Super Bowl champion Tom Brady is starting an NFT company, Christie's is explaining CryptoPunks to everyone, Saturday Night Live is creating jams about NFTs, Beeple and Mark Cuban are advocating NFTs’ use case — yet, here I am, the CEO of a company that helps users securely store their nonfungible tokens and I still think the actual value of NFTs is to be decided. It's important to back up and remember that, although it seems like we have all always known about NFTs, the....

Ledger Customers Are Being Mailed Fake Wallets to Steal Their Private Seeds

Ledger customers are receiving fake wallets by mail to steal their cryptocurrency. A user in Reddit reported receiving a suspicious package that claimed to be mailed by Ledger. The package included a letter stating the user needed to substitute the current wallet for safety reasons. Ledger has been the source of several leaks of information of customer data. Criminals are presumably using this information to organize these schemes. Scammers Are Mailing Fake Wallets to Ledger Customers Scammers are reportedly mailing fake hardware wallets to Ledger customers to steal their private seeds.....

Danske Bank Takes Position on Cryptocurrencies, Will Not Interfere With Crypt...

Danske Bank will not block credit cards used in crypto trading, according to its newly announced position on cryptocurrencies. The Danish bank would also accept deposits related to crypto investments, although it follows a cautious approach towards decentralized digital assets. Denmark’s Largest Bank Clarifies Its Stance on Cryptocurrencies Responding to mounting inquiries from customers and other stakeholders, Danske Bank has released an official position on crypto assets. “In recent years, cryptocurrencies such as bitcoin and ethereum have received significant attention from....

Perlin (PERL) price gains 100% as the focus on green energy solutions intensi...

PERL price defied the marketwide downturn with a 100% rally following the release of an environmentally friendly focused platform that provides users with carbon credits. Generating momentum and attracting investor attention can be a challenge during the best of times in the cryptocurrency market and it is an even bigger challenge when the markets are choppy like the entire crypto ecosystem has been the past couple of months. Despite the recent downturn, Perlin (PERL), which has managed to rally 140% from a low of $0.052 on June 8 to a high of $0.134 on June 18 as its average 24-hour....

Bitcoin To $10 Million By 2030

It might seem hyper-bullish, but there is real reason to believe such an ascension in price could occur.Bitcoin will experience three halvings this decade, the first in 2020, the second in 2024 and the third in 2028. Counting the 2020 halving that already occurred last year, Bitcoin has experienced a total of 3 halvings since its launch in 2009. Historically, in the year following each halving, the bitcoin price shoots up exponentially due to an increase in demand and decrease in supply in the market. But there is a new type of demand in the market, one that weighs far heavier than the....

Paraguay Follows El Salvador In Tabling Bitcoin Bill, The Crypto Revolution I...

As confirmed by Paraguay’s National Deputy, Carlitos Rejala, plans are in place to discuss the formal legalization of Bitcoin next month. Since El Salvador took the progressive step of recognizing Bitcoin as legal tender, politicians from several other Latin American countries have also signaled a similar intent. So far, on the list of potentials to […]

Goldman Sachs Leverages Crypto Management Firm Galaxy Digital to Swap Bitcoin...

Galaxy Digital’s co-president Damien Vanderwilt announced today that his firm has partnered with Goldman Sachs to help provide bitcoin futures products. The partnership marks one of the first occasions where an American multinational investment bank has partnered with a crypto asset service provider. Galaxy Serves as Goldman’s Counterparty for Bitcoin Futures Trading Goldman Sachs is trading bitcoin futures products with Galaxy Digital according to statements made by Galaxy’s co-president Damien Vanderwilt during an interview with CNBC. Galaxy Digital is a financial....

Hawkish Fed comments push Bitcoin price and stocks lower again

Bitcoin price drops a leg lower and stocks slump after St. Lous Federal Reserve President James Bullard signals that interest rates could rise by the end of this year. Bitcoin (BTC) and the wider financial markets faced a new wave of selling on June 18 following comments from James Bullard, the president of the United States Federal Reserve Bank of St. Louis, indicating that he expects the first interest rate increase to happen in late 2022. Bullard's comments were even more hawkish than Wednesday’s comments from Fed Chair Jerome Powell, who indicated that the rate hikes would come in....

Steve Hanke Calls El Salvador’s President “Stupid” For Making Bitcoin Legal T...

Steve Hanke has condemned the legalization of Bitcoin in El Salvador. The economist believes the decision will “completely collapse” El Salvador’s economy. He called the move “stupid.” His reasoning around this being that El Salvador is a dollarized nation and making Bitcoin legal tender would be detrimental to the economy. Professor Hanke was on Kitco […]

How China Bitcoin FUD Is Lowering The Cost To Produce BTC

Bitcoin FUD out of China might be helping to lower the cost to produce BTC. The news of the crackdowns on mining farms in China has rocked the market lately. Entire mining operations were shut down and they had to be moved to other sites. No one is sure where the rigs will be moved […]

Bitcoin Top And Bottom Metric Reaches Historically Oversold Level

Bitcoin price is still stuck in the mid-$30,000 range for weeks now, unable to break any lower or make an attempt to reclaim highs. After such a drastic 50% move down, the market is shaken and waiting for confirmation of direction before volume returns. Currently, the top cryptocurrency by market cap is at historically oversold […]

The Missing Ingredient From A Full On Bitcoin Reversal

Bitcoin price is back around $35,000 and has failed to retake $40,000 despite several low timeframe reversal signals building. When looking back at past breakdowns following significant rallies, there could be a missing ingredient needed for a full on reversal, and it could have to do with the Bollinger Bands. All About The Bollinger Bands […]

Bulls hesitate to buy the dip after Bitcoin price falls close to $35K

Bitcoin’s drop to $35,130 has bulls hesitant to buy the current dip but on-chain data shows long-term holders continue to accumulate. On June 18, Bitcoin (BTC) and traditional markets faced another day of downward pressure comments from the United States Federal Reserve about the possibility of raising interest rates sooner than expected has led to a spike in the price of the U.S. dollar at the expense of risk assets and treasury notes. The Fed doesn’t deserve all the bla, however, as concerns about a further downturn for BTC have been building for weeks with much of the discussion focused....

NASCAR Driver Landon Cassill to Be Paid in Cryptocurrency for the Remainder o...

The American professional stock car racing driver, Landon Cassill, has announced he has partnered with the crypto-asset platform Voyager Digital Ltd. in order to get paid in cryptocurrency. Cassill’s announcement notes that the racer will be paid in crypto for the remainder of the 2021 NASCAR Xfinity Series season. Landon Cassill to be Paid in Digital Currencies, JD Motorsports’ No. 4 Chevrolet Will Sport Voyager Branding According to an announcement published on nascar.com, Landon Cassill, the professional stock car racing driver who drives the JD Motorsports’ No. 4....

Crypto company CEO says the recent crypto boom brought increased adoption

Crypto usage in 2021 differs from the 2017 rally, according to the CEO of StormX. Cryptocurrency has gone through a number of bull and bear cycles since the industry’s inception in 2009. While 2017 saw the crypto industry boom around initial coin offerings and a rising Bitcoin (BTC) price, 2020 and 2021 have seen the crypto space expand around decentralized finance (DeFi) and nonfungible tokens (NFTs). This time however, retail and institutional interest in crypto have ushered in greater adoption than ever before, according to one crypto company CEO. “Cryptocurrencies have been growing....

Crypto-Powered Investing App SimpleFX Launches $50,000 “Euro 2021 Trading Cup”

Are you a crypto trader looking for a fun opportunity to earn more returns or a soccer fan who wants to add some excitement during the Euro Cup? Great news, crypto-powered investing app SimpleFX launches a trading contest with a $50,000 prize pool. The SimpleFX Euro 2021 Trading Cup SimpleFX is an online broker covering crypto, forex, stocks, gold and other assets that has been around since 2014. The platform is designed to be powerful yet very easy-to-use and offers a very quick registration process for cryptocurrency accounts – no KYC is needed just a simple signup with an e-mail.....

Goldman Sachs Partners With Galaxy Digital For Bitcoin Futures

Goldman Sachs furthering investment into bitcoin, and even crypto more broadly, shouldn’t surprise anyone too much by now. The top-tier global investment and financial services firm has emphasized this quarter as the one to get their crypto services in swing, and this recent partnership announcement falls in line with exactly that. The Partnership Perspective: Galaxy […]

Texas crypto users will soon be able to buy and sell tokens at major supermar...

The state is already becoming known for attracting miners and attempting to pass pro-crypto legislation, with Governor Greg Abbott saying he was a "crypto law proposal supporter." Shoppers wanting to cash out their crypto holdings to buy groceries may soon be able to do so at many H-E-B supermarkets in Texas. According to a Friday report from the Houston Chronicle, crypto ATM firm Coin Cloud is preparing to install machines into 29 H-E-B locations in the Houston area. The ATMs will allow customers to buy and sell more than 30 cryptocurrencies, including Bitcoin (BTC), Ether (ETH), Dogecoin....

Bitcoin Has Three Major Flaws, According To Cornell Economist

Bitcoin continues to trend lower in the daily chart. After losing support in the $37,000 area, BTC trades at $35,540. The main cryptocurrency by market cap has been on a downwards trend since May 2021. When the bears take over the price action, there are events that occurred with certainty. For example, Bitcoin critiques start […]

Price analysis 6/18: BTC, ETH, BNB, ADA, DOGE, XRP, DOT, UNI, LTC, BCH

Traders expect further downside from Bitcoin and altcoins after BTC dropped below a key support level at $36,000. The U.S. Federal Reserve updated their inflation expectations for this year from 2.4% in March to 3.4% in their latest meeting that concluded on June 16. To tame inflation, the Fed plans to undertake two rate hikes before the end of 2023.This news has boosted the U.S. dollar index DXY to its best level since mid-April. Gold’s price, which generally has an inverse correlation with the dollar, has dropped to a 6-week low.Daily cryptocurrency market performance. Source: Coin360The....

China’s Sichuan Asks Bitcoin Miners To Shutdown Operations

According to reports, Sichuan’s Ya’an municipal government has asked Bitcoin miners to shutdown operations in the city. None of the three local sources available at the moment mention how long the crypto mines will remain closed. Chinese crypto media outlet PANews says, Officials from related authorities, including the city’s energy bureau and technology bureau, had […]

Cointelegraph Consulting: Report pictures a crypto-consumer portrait

While some have doubts when it comes to cryptocurrencies as a form of payment, this survey of active users indicates that they are genuinely impactful reasons for switching to crypto. Bitcoin’s status as legal tender in El Salvador has recently sparked a new round of discussion concernin Bitcoin (BTC) and its role in the world economy. Despite ambiguous reactions from institutions such as JPMorgan and the World Bank, some feel that Bitcoin’s status as a means of payment is now more explicit than ever.Meanwhile, the perception of Bitcoin among retail users is contrasted sharply by....

An Overview Of Bitcoin’s Cryptography

A look at the securing mechanisms of the global monetary system millions entrust their value with.I’m going to talk about the security behind Bitcoin addresses and keys, called Public Key Cryptography. This includes SHA256, Random Number Generators(RNGs), Hash Functions, and Elliptic Curve Digital Signatures (ECDSA.) If you have questions beyond this, please feel free to DM me. I am a mathematician by training, and I have a deep love for it. If you find that you have a new interest in cryptography as a hobby, there are many people who create cryptographic algorithms for fun, and their....

Out of All the American States Study Shows Hawaii Expressed the Most Crypto D...

A report published by the independent marketing intelligence company, Miq Digital, explains that Hawaii has seen the most crypto demand of all the states in the U.S., with a 687% increase since 2020. As far as increased cryptocurrency demand since last year, Nevada, California, Florida, and Colorado followed the island state with increases of over 600% as well. Hawaiian Interest in Crypto Skyrockets, Americans Love Dogecoin, Crypto Acceptance Among American Merchants Increases The independent marketing intelligence firm Miq Digital has published a research report on interest in....