Crypto news

Amsterdam-based bitcoin mining firm – Bitfury – announced it will launch a new 28MW digital asset mining site in Ontario, Canada. The facility will launch with an operational capacity of 16MW, while an additional 12MW will be added by the end of May. Bitfury’s Next Mining Center The technology company focused on digital asset mining currently has mining sites in Scandinavia, Eastern Europe, Central Asia, and North America. According to a recent press release, it will double...

Bitcoin’s price recently soared by $2500 within one hour in light of US President Joe Biden’s comments on Russia’s invasion of Ukraine. It’s now recovered to its price since before the market panic surrounding the conflict took place. Yesterday, Bitcoin’s price collapsed from $39k to $34,500 after Russian forces began attacking Ukraine’s military infrastructure. Over $400 million in liquidations took place following the crash. The entire crypto market had declined by $200...

Mexican senator for the State of Nuevo León, Indira Kempis, has stated that she wants to make the country second after El Salvador to adopt Bitcoin. However, the chances of this actually happening are slim at best. Speaking to local media this week, she noted that she aims to promote the use of Bitcoin in the country and use her political position to achieve that goal. “We need bitcoin to be legal tender in Mexico, because if it is not so, if we do not make that decision as...

Why is bitcoin experiencing such a dip as of late? The tensions between Russia, Ukraine, and the United States may have something to do with it. Russia and Ukraine Are Having Adverse Effects on BTC Over the last few weeks, we have continuously seen news reports saying that Russia is potentially on the verge of invading and attacking Ukraine. If this were to happen, the United States has mentioned that it would impose sanctions on Russia and find necessary ways to...

Crypto analyst Benjamin Cowen explained in a recent online statement that the price of bitcoin could wind up taking an even harder fall next month. Benjamin Cowen Predicts Rough Things for BTC Bitcoin has been experiencing somewhat bearish trends as of late. While the currency has shot up by a few thousand dollars since the beginning of February, the asset is nowhere near the all-time high it achieved last November. During that month, the world’s number one digital...

Kevin O’Leary – the legendary investor of “Shark Tank” fame – is telling traders that they shouldn’t get their hopes up on bitcoin unless more institutions feel comfortable enough with the asset. Kevin O’Leary Thinks Institutions Make All the Difference The argument surrounding bitcoin’s abilities are typically centered on institutions. Over the past few years, companies like software giant MicroStrategy and payment processing firm Square have invested billions of...

Putin’s “special military operation” caused major financial uncertainty in Ukraine. To bring more clarity to the situation, the National Bank of Ukraine informed that local monetary institutions will suspend the issuance and distribution of electronic money. Ukraine’s Central Bank Introduces Its Policies It is safe to say that Russia’s military operation in Ukraine is the top news today (February 24). As Russian troops are heading towards the biggest cities of their neighbor,...

Yesterday saw one of the most highly-anticipated collections of non-fungible tokens go through its public sale. As expected, the event was heavily populated by bots, and one of them managed to mint 950 tubby cats, spending 200 ETH in gas in the process. Explaining Tubby Cats Tubby Cats is a collection of 20,000 unique non-fungible tokens (NFTs) that went through its whitelist and public mint over the course of this week. In a bid to incentivize decentralized ownership of the...

Key Support levels: $0.68 Key Resistance levels: $0.85 ADA’s price lost the key support at $0.85 and is falling quickly. The level has now turned into resistance, and the cryptocurrency may fall all the way to $0.68 where buyers may attempt a reversal. The outlook is bearish and ADA is approaching oversold conditions. Chart by TradingViewTechnical Indicators Trading Volume: The large selling volume today has pushed the price much lower. An increasing volume during a decline...

The past couple of months have been challenging in the cryptocurrency market as many coins, including Bitcoin, lost substantial chunks of their dollar value. While the primary cryptocurrency is down about 50% since its November all-time high, many altcoins are crashing harder. This became even more pronounced in the context of the tensions between Ukraine and Russia, which ultimately resulted in a war between both countries. Altcoins Crash, BTC Dominance on the Rise Bitcoin’s...