Day: May 14, 2021

Kusama (KSM) price hits new highs as parachain auctions begin to take shape

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Major protocol upgrades are one of the most potent sources of price movement for cryptocurrency projects as community members and investors get excited about new features and traders rush in to “buy the rumor and sell the news”.  One protocol that has seen its price rise to new rights this week despite the overall bearish conditions affecting the market is Kusama (KSM), an experimental blockchain platform and a sister chain to the Polkadot’s platform. Kusama is designed to provide an interoperable and scalable framework for developers. Data from Cointelegraph Markets…

Crypto industry brass explains harnessing renewable energy could help BTC miners

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The energy consumed by mining — the process that keeps Bitcoin’s blockchain running — has been an increasingly popular topic of discussion in recent weeks. On Friday, CNBC posted an interview with SUKU CEO Yonathan Lapchik, during which he explained the Bitcoin mining scene as it relates to renewable energy. The interviewer noted Lapchik previously claimed that 75% of Bitcoin mining comes from renewable energy. “We think that 75% is an actual figure,” Lapchik told CNBC, “The miners are truly incentivized to use renewable energy.” Turning his thoughts to electric…

Ripple Claims SEC Misquoted It in Latest Development

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Key Takeaways Ripple has filed a new legal memorandum in an attempt to counter previous motions from the SEC. The memo claims that the SEC misquoted Ripple’s statements in its earlier attempts to dismiss Ripple’s defense. This is the latest development in an ongoing lawsuit over whether Ripple’s XRP sales constitute unregistered securities. Share this article As part of an ongoing lawsuit, Ripple has countered the SEC’s previous legal motions by filing a new legal memo. This memo claims that the SEC misquoted key parts of Ripple’s defense. Ripple Lawsuit…

Ethereum Market Cap Now Half the Size of Bitcoin

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Key Takeaways Ethereum’s market cap is now half the size of Bitcoin’s. The ratio between the assets is 0.08. Many crypto followers believe that Ethereum could overtake Bitcoin to become the largest cryptocurrency by market cap in the future. Ethereum’s roadmap for the coming months includes EIP-1559 and “the merge” to Proof-of-Stake, which could bode well for ETH’s price action. Share this article The recent Ethereum rally has raised calls for what the crypto community has dubbed “The Flippening.” Bitcoin Dominance Plummeting  Ethereum is catching up with Bitcoin. The second-ranked…

Dogecoin Soars 31.7% as Elon Musk Hints at “Efficiency” Improvements

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Share this article Dogecoin takes an upward jolt as Elon Musk draws attention to the currency yet again.  Dogecoin Jumps on Musk Tweet  Dogecoin jumped last night after Elon Musk posted a tweet mentioning the currency. It’s up 31.7% in the last 24 hours.  “Working with Doge devs to improve system transaction efficiency,” the Tesla and SpaceX founder wrote. “Potentially promising.”  Working with Doge devs to improve system transaction efficiency. Potentially promising. — Elon Musk (@elonmusk) May 13, 2021 Within minutes of Musk posting the tweet, Dogecoin had jolted upwards.…

Coinbase Nets $771 Million Profit in Q1 2021

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Key Takeaways Coinbase tripled its earnings from the previous quarter in Q1 2021, netting a profit of $771 million. Coinbase CEO Brian Armstrong says that the exchange will list Dogecoin soon. The exchange went public on NASDAQ last month, briefly hitting a valuation of $100 billion. Share this article Coinbase has its strongest quarter yet as the crypto market skyrockets.  Coinbase Rides Crypto Boom Coinbase netted $771 million profit in Q1 2021, the company has revealed.  The exchange hosted the first earnings call since its NASDAQ listing last night, confirming…

Singapore’s biggest bank launches crypto trust solution

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DBS Private Bank, one of the biggest wealth managers in Asia outside China, has launched a cryptocurrency trust solution amid growing demand for digital assets. After setting up its own crypto exchange in December 2020, the Singaporean banking giant is now expanding its crypto services via its wholly-owned trust company DBS Trustee, The Business Times reports Friday. The new crypto trust solution allows the company’s private banking clients to invest, custody and manage cryptocurrencies. The trust offering supports four cryptocurrencies including Bitcoin (BTC), Ether (ETH), XRP, and Bitcoin Cash (BCH),…

‘Fear’ grips Bitcoin as crypto market sentiment drops to lowest levels since April 2020

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Bitcoin (BTC) and altcoin traders are more nervous than any time in over a year as a classic sentiment gauge signals “fear” is driving the market. According to the Crypto Fear & Greed Index, cryptocurrency traders have not had such cold feet about the market climate since April 2020. March 2020 on repeat Fear & Greed uses a basket of factors to determine overriding sentiment among market participants — and therefore where the market itself is likely headed. Price volatility can produce considerable shifts in its readings — just four…