Day: May 10, 2021

Dogecoin price dumps, but whodunnit? Whales, institutions or retail traders?

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Most recently, DOGE pulled off a 10x gain as it rallied to $0.74 in the past week. The breakout was fueled mainly by Tesla CEO Elon Musk and his constant mentions of the token on social networks and interviews. Surprisingly, as Musk debuted on Saturday Night Live on May 8, Dogecoin price corrected by 42% even as Musk, his mother, and SNL actors mentioned DOGE in various skits. This event led to something rather unusual as DOGE traded over $130 billion over the past week, while its market capitalization stands…

2 reasons why Casper (CSPR) IOU token rallied 2,300% in one week

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Bull market cycles in the cryptocurrency market can be exhilarating for day traders and long-term investors alike, but the speed at which the prices move can make it a challenge for promising new projects that are looking to catch the momentum before the cycle plays itself out. This reality has led to some projects listed on exchanges in the form of token IOUs so that interested parties can get in on the trading action before the token is officially released. Polkadot (DOT) is one of the most well-known examples of…

Gemini reports ‘degraded performance’ in key systems as ETH falls under $4,000

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Major U.S.-based cryptocurrency exchange Gemini has experienced two service disruptions today and is now reporting degraded performance in its mobile app, web interface, and application programming interface. According to an update on the Gemini status page, the crypto exchange began investigating reports of potential service disruptions at 13:24 EST today. Though the exchange said it had restored all of its services only minutes later, Gemini reported another service disruption a few hours later, saying its systems were “experiencing degraded performance” due to an undetermined cause. At time of publication, deposits…

Ubisoft selects blockchain startup for its Entrepreneurs Lab

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Aleph.im, a blockchain-based storage and computing startup, has been selected to participate in the sixth season of Ubisoft’s Entrepreneurs Lab, offering further exposure to the emerging blockchain industry.  The French video game developer has been running the Entrepreneurs Lab for the past six years, offering startups and entrepreneurs the ability to access company resources and expertise as they scale up and commercialize their products. This season’s focus is “blockchain and positive entertainment.” In addition to Aleph.im, 11 other startups from Canada, Europe and Australia have been selected to participate. “We…

Bitcoin And Ethereum Bleed 10% In Violent Crypto Market Shakeout

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Ethereum reached highs over $4,000 today and Bitcoin made another attempt at over $59,000. Within a two-hour window, more than 10% of recent gains were wiped out sending Ether back below the key level and Bitcoin tumbling lower. Is this a sign of a reversal in the making, or are these powerfully trending assets simply too unstoppable right now for the rally to be over? Ethereum, Bitcoin Dive Nearly 10% In Violent Free Fall Ethereum has had one of its most productive months yet in terms of ROI, all while…

Dogecoin Clone Turns to Vitalik Buterin for Coin Burn

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Key Takeaways Shiba Token, a Dogecoin clone, has deposited half of its supply into the wallet of Ethereum creator Vitalik Buterin. The move is an attempt to carry out a coin burn, keeping prices high by removing a portion of the supply from circulation. SHIB’s value has risen by more than 1,500% over the past week. Share this article Ethereum creator Vitalik Buterin has involuntarily accumulated 50% of Shiba Token’s supply over the past year. This week’s donation attracted attention as the token’s price rose significantly. What Is Shiba Token?…

BTC, ETH, BNB, DOGE, XRP, ADA, DOT, BCH, LTC, LINK

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The astronomical rally in Ether (ETH) is not showing any signs of slowing down. The bulls easily cleared the overhead hurdle at $4,000 today, which also pushed the biggest altcoin’s market dominance to over 19%.  It is not only Ether that is witnessing sharp buying from traders. Litecoin (LTC) and Cardano (ADA) have also risen new all-time highs, suggesting a broad-based altcoin rally. However, Bitcoin (BTC) seems to have lost its momentum as it continues to struggle near the $60,000 mark. That has pulled its market dominance to below 44%…

HIVE Blockchain sells Norwegian data mining center, citing loss of government subsidies

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Crypto mining firm HIVE Blockchain Technologies sold one of its data centers in the Norwegian municipality of Narvik, which it previously held since 2018. In an announcement on Monday, HIVE said it had transferred all shares of the firm’s local subsidiary Kolos Norway AS to Narvik, in addition to a $200,000 payment. The move came after the Norwegian Parliament approved a bill in December 2018 that would not provide relief to crypto miners on power consumption. The mining firm said it was “no longer probable that [HIVE] will be able…

African crypto exchange registers $3.2B in transactions ahead of global expansion

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After nearly three years in operation, Nigerian cryptocurrency exchange Quidax has reported more than $3.2 billion in transactions, underscoring the rapid adoption of digital assets in Africa’s largest economy. Since launching in August 2018, Quidax has amassed over 400,000 customers across 72 countries, the company disclosed on Monday. The figures were published alongside an announcement that the exchange plans to further expand its crypto trading operations beyond Africa. In addition to its expansion plans, Quidax announced the launch of QDX, its native token, on Binance Smart Chain. The BEP-20 token…

Here’s Where The Ethereum Rally Could Pause, According To Bitcoin Blueprint

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Ethereum is ripping, now well above $4,000 per ETH and in full price discovery mode. But with no obvious resistance levels, how can anyone prepare for when the trending altcoin runs out of steam and eventually reverses? Technical analysis indicators, as well as fundamental tools are two possibilities, however, simple mathematics could also play an important factor. Here’s how, along with a look at how the same math stopped the Bitcoin bull train in its tracks. Crypto Market Cycles, Expectations, And Wild Analyst Targets As much as analysts and traders…