As Bitcoin Slumps, BTC Miners Sell Of Their Tokens Creating Panic In The Market
The broader crypto market has been in a state of a downward price swing, with Bitcoin going lower almost daily. Before now, Bitcoin miners have put away some BTC tokens waiting for their sunny days to reap. However, the continuous price drop of virtual assets has set a constant downtrend for the most significant crypto token. Hence, miners are selling out their holdings to flatten the rising costs of operations and other activities as Bitcoin makes some rebounding steps. As per reports, there is an increase in the transfer of BTC tokens from miners to exchanges. The record shows a....
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The crypto market trends to the downside as major assets are unable to break above local resistance. As per usual, the dominant trend picks winners and losers and unfortunately, the altcoin markets have been amongst the latter. Related Reading | As Bitcoin Slumps, BTC Miners Sell Of Their Tokens Creating Panic In The Market In particular, decentralized finance (DeFi) protocols have been severely impacted by the crypto downtrend. Some of the most popular protocols in the Ethereum DeFi sector, perhaps the biggest ecosystem in the space, record as much as 92% in losses. Jack Niewold,....
Bitcoin has recorded multiple dips in recent weeks that have pushed its price below $60,000. The slump came as a result of sell-offs from investors who believe that the asset has reached its peak. Panic had spread like wildfire, triggering even more sell-offs but not everyone gave in. Whales have always been known to gobble up the bitcoins that small-time investors unload during periods of panic and this time has proven to be no different. While the broader market panic sold their holdings, bitcoin whales took advantage of the opportunity to pad up their holdings, snapping up billions in....
Crypto miners require high electricity for their mining activities. But with the high energy consumption, several jurisdictions are frowning on digital currency mining. Moreover, mining activities are recently creating another environmental threat due to the energy source. Some miners are using fossil fuels to generate the required electricity for mining. Combustion of these fuels leads […]
Bitcoin fell sharply early on Monday, having failed to establish a foothold above $40,000 over the weekend.
The Bitcoin.com Team is excited to announce the integration of ERC-20 tokens into the Bitcoin.com Wallet. That means anyone can now buy, sell, receive, store, trade, and send ERC-20 tokens with the convenience and security of the industry’s most user-friendly non-custodial wallet.
ERC-20 Tokens?
ERC-20 is the standard protocol for creating tokens on the Ethereum blockchain. There are over 450,000 sets of ERC-20 tokens as of 2021 and they collectively represent hundreds of billions of dollars in value. All ERC-20 tokens “live” on Ethereum, meaning they....