Tag Archives: social

The Miss Universe 2023 contest had various show-stopper moments during its National Costume Competition today.  But for the cryptocurrency sector, it came when El Salvador’s Alejandra Guajardo sashayed the stage in a Bitcoin suit.  Alejandra Guajardo. Source: RedditBTC on Miss Universe Stage  The 27-year-old actress and model showcased the evolution of her country’s currency through a dress she wore at the Miss Universe contest. She came on stage in a golden bitcoin outfit,...

There’s a crypto study out of South Korea recently of Chinese Bitcoin arbitrage traders and Korea’s “kimchi premium” on Bitcoin prices. Its characterization of the cross-border Bitcoin trade and recommendations miss some key economic foundations. A recently published crypto study by Incheon National University and the Bank of Korea is making the rounds. The authors found a strong correlation between the “kimchi premium” and international remittances to China. ‘Kimchi Premium’...

The mining data site Hashrate Index has released a report reflecting on the state of the Bitcoin mining industry throughout 2022.  The analysis examines the steep decline in mining profitability in 2022 compared to 2021 amid plummeting Bitcoin prices and a rising hash rate.  The Hardest Hitting Bear Market Per the report published on Wednesday, Bitcoin’s hashprice reached an all-time low of $55.94/PH/day in November of last year. Hashprice is a dollar-denominated measure of...

The rally from the past two weeks has pushed the cumulative market cap of all crypto assets to above $1 trillion for the first time since the FTX debacle. This comes amid the massive price surge from several altcoins, such as Solana, Polkadot, Polygon, Avalanche, and others. The start of 2023 has been quite spectacular for the cryptocurrency market following the painful 2022. The largest digital asset went from around $16,500 to over $21,000 in about two weeks. This 27%...

Illegal financial transactions involving cryptocurrencies in 2022 have reportedly surged for a second consecutive year, tapping an all-time high of $20.1 billion.  The previous record was in 2021, when digital assets facilitated criminal proceedings worth $18 billion. Going Up Amid the Bear Market Apart from the significant market decline, the numerous bankruptcies, and scandals, 2022 will be remembered as a flourishing year for illicit cryptocurrency transactions. According...

Glassnode released its first on-chain video report of 2023 on Tuesday, reviewing what could be data-based indicators of an emerging crypto bull market.  The firm noted that both Bitcoin and Ether’s price and on-chain activity have seen little volatility since the year began – a period like others that have historically preceded “explosive market moves.” Starting Off Slow As explained by Glassnode’s lead analyst James Check, Bitcoin has been stuck trading within a roughly $550...

It has taken bitcoin just a little over two months to recover from the damages done by the collapse of SBF’s former crypto empire, as the asset skyrocketed to over $21,000 earlier today. Most alternative coins saw an equally if not more impressive rally in the past week or so, culminating in double-digit price surges on Friday and early Saturday. BTC Topped $21K After a violent year, which saw the demise of former crypto giants such as Terra, 3AC, and Celsius, the end of 2022...

In one of its most impressive rallies in about a year, bitcoin skyrocketed by double digits, charting a two-month high above $21,000. Most alternative coins have followed suit, resulting in over $650 million in liquidations on a 24-hour scale, the majority of which were from short positions. It’s safe to say that the start of the year has been quite favorable for the cryptocurrency market. Bitcoin, for one, stood around $16,500 on January 1. After a quiet first few days, it...

One of the most successful NBA teams – Miami Heat – finally annulled its partnership with the cryptocurrency exchange FTX.  As a result, the home ground of the basketball giant will no longer be called FTX Arena. Cutting All Ties  A federal bankruptcy judge officially canceled the collaboration between Miami-Dade County (the territorial division where the NBA team is located) and FTX. The ruling determined that Miami Heat is allowed to remove the platform’s initials from its...

WonderFi Technologies – a tech company that provides access to decentralized finance (DeFi) – has reportedly been mulling a merger agreement with the trading platform Coinsquare. The goal would be to establish the largest cryptocurrency exchange in Canada. A Deal on the Horizon As reported by Bloomberg, the two parties have been in advanced merger talks. However, WonderFi did not make further comments, adding that the discussions could not guarantee the collaboration: “These...