Bitcoin (BTC)

The month of June marked a turning point for the world of crypto and bitcoin mining, and it looks like revenue for miners has begun to slip. Crypto Miners Are Losing Out On Funds Both bitcoin and Ethereum miners reported a drop in earnings throughout June 2021. Profits fell by as much as 42 percent from May, which saw those involved in extracting new units garner a whopping $1.45 billion in crypto-based profit. By contrast, June only produced $839 million in profit for...

The Brazilian authorities have arrested the president of the Bitcoin Banco Group – Claudio Oliveira. According to them, he was responsible for swiping 7,000 bitcoins from customers worth $250 million today. ‘The Bitcoin King’ Got Busted In a recent online press release, the Brazilian officials reported the arrest of Claudio Oliveira. He was the man in charge of the Bitcoin Banco Group – a company promising high returns for clients who invest their bitcoins with it. Following...

According to a new report issued by cryptocurrency research firm Crypto Head, the United States is the most-ready nation to initiate full scale cryptocurrency adoption. Crypto Head Puts the U.S. in the Number One Spot Crypto Head is basing its figures on several factors, including the amount of bitcoin and crypto-based ATMs the U.S. has within its borders. Thus far, the United States has more than 17,000 bitcoin ATMs stationed throughout the country. In second place was...

Bitcoin investors have halted depositing their assets onto cryptocurrency exchanges and have actually started to withdraw substantial quantities, says on-chain data. Furthermore, it showed that most of the withdrawals came from retail investors, but whales and institutions have also accumulated BTC lately. Exchange Withdrawals to Early Highs Data from CryptoQuant highlighted the recent trends in terms of BTC investors’ withdrawals and deposits from and to cryptocurrency...

Mashinsky says Bitcoin is best held as a store of value, while Ether’s primary use is yield farming.  Bitcoin, the world’s leading digital asset, has begun to lose its market dominance to Ethereum, this view was shared recently by the CEO of Celsius Network Alex Mashinsky during a recent interview with Kitco News.Per data from Coinmarketcap, Bitcoin’s market dominance stands at around 44% while that of Ethereum has risen to approximately 19%. ETH Is Already Flipping BTCAccording to...

[PRESS RELEASE – Singapore, Singapore, 6th July 2021] Singapore, July 6th, 2021 – What a rollercoaster ride it’s been — and we still have six more months to go before turning a new page in time. As observers of recent events can testify, one should always expect the unexpected with the crypto market. The months of May and June saw markets whipsaw amid heightened volatility. Midyear mayhem aside, it’s important for us to also remember the finer happenings in 2021 — including a...

The People’s Bank of China has shut down a local firm suspected of providing various software services to cryptocurrency businesses. As it happened during previous negative actions, the price of bitcoin fell rapidly after the news broke. In the latest statement on the matter, China’s central bank has closed down a firm called Beijing Tongdao Cultural Development Co. because of suspicion that it provided software services to transactions involving digital assets. The...

It has been revealed that “The Bitcoin King” has been under investigation in the past for related crimes in Europe and the US.The Brazilian Federal Police have arrested members of financial firm Bitcoin Banco Group. The group and its leader Cláudio Oliveira were charged with money laundering and fraud among others. Olivera and his group are alleged to have embezzled over 1.5B Brazilian Reals ($300M) from at least 7000 clients. The arrest was announced in a police press release on Monday....

The Swiss banking giant UBS sounded a note of caution to its customers that regulatory crackdowns can pop the “bubble-like” crypto markets. Furthermore, they said bitcoin might become an unsuitable option for professional investors. Beware of Popping The Bubble In a recent note, the multinational investment bank – UBS Group AG – warned its clients about the current dangers in the crypto market. Executives of the Switzerland-based institution opined that the recent regulatory...

ADA price started a fresh increase after it found support near $1.20 against the US Dollar. The price is now trading above $1.35 and the 55 simple moving average (4-hours). There is a key rising channel forming with support near $1.35 on the 4-hours chart (data feed via Bitfinex). The price is likely to continue higher above $1.45 and $1.50 in the near term. Cardano price is trading in a positive zone above $1.35 against the US Dollar, similar to bitcoin. ADA price could...