Day: April 15, 2021

ARK buys $246M of Coinbase stock, adds COIN to three ETFs

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Three exchange-traded funds offered by Cathie Wood’s ARK Invest purchased 749,205 shares in Coinbase Global, Inc (COIN) worth roughly $246 million combined. The ARK Innovation ETF (ARKK) now holds 512,535 COIN shares, while the ARK Next Generation Internet ETF (ARKW) purchased 147,081 shares, and the ARK Fintech Innovation ETF (ARKF) bought 89,589. ARK’s funds were not the only ETFs accumulating COIN, with the Amplify Transformational Data Sharing ETF (BLOK) also getting in on the action. BLOK is among the most active ETFs in the crypto space, with seven of its…

Ethereum Outperforms Bitcoin, Why Bulls Could Aim $2,500 or Higher

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Ethereum extended its rally to a new all-time high near $2,450 against the US Dollar. ETH price is now consolidating gains, with high chances of more gains above the $2,450 level. Ethereum traded above $2,400 and topped near the $2,450 level. The price is now trading well above $2,400 and the 100 hourly simple moving average. There is a major bullish trend line forming with support near $2,370 on the hourly chart of ETH/USD (data feed via Kraken). The pair is likely to continue higher towards the $2,480 and $2,500…

Bitcoin power consumption ‘66 times higher than in 2015’: Citigroup

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The Bitcoin energy consumption debate is heating up faster than the planet, with corporations facing pushback from the public and shareholders over Bitcoin investments. According to a Citigroup Inc. report, Bitcoin is consuming 66 times more electricity than it did in 2015. It added that the carbon emissions associated with mining will likely face increasing scrutiny, according to Bloomberg. This assertion is backed up by new research from Mastercard — which just released its own Carbon Calculator — that shows 54 percent of people believe that preserving the environment is…

Bitcoin Trims Gains, But Here’s How BTC Could Rise Again

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Bitcoin price traded to a new all-time high near $64,892 before correcting lower against the US Dollar. BTC tested the $61,500 level and it is now showing a few positive signs. Bitcoin climbed further above the $63,000 and $64,000 resistance levels. The price is now trading well above the $62,000 level and the 100 hourly simple moving average. There is a major bullish trend line forming with support near $61,850 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is likely to start a fresh…

Six top projects sign up

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The source code for the upcoming Polkadot Index Network Token, or PINT, has been made public, with half a dozen projects putting their hand up to be included in the index. The project has outlined a four-phase roadmap that it expects to culminate in mainnet launch within three months. According to an April 14 announcement, six of Polkadot’s leading projects have already given “soft commitments” for inclusion in the index, including Acala Network, Equilibrium, HydraDX, Litentry, Moonbeam, and Plasm. The PINT token seeks to offer investors balanced exposure to the…

Watch out as r/Wallstreetbets finally allows crypto threads… within limits

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The moderators of subreddit r/wallstreetbets have announced they will allow crypto discussion in the subreddit from today. The retail trading group, famous for pumping traditional stocks such as Gamestop (GME) and scaring hedge fund managers out of their shorts — which is soon to be a major movie — will limit discussion to three cryptocurrencies, BTC, ETH, and DOGE, in a single daily thread. A post this morning stated: “We’ve decided to allow for discussion about only BTC, ETH, and DOGE only. Inside of a daily Crypto discussion thread as…