The cryptocurrency market endured a brutal decline on Tuesday, as regulators clamped down on the industry. Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH), and Dogecoin (CRYPTO: DOGE) were down 7%, 9%, and 20%, respectively, as of 11 a.m. EDT -- and many other cryptoassets were down even more.

So what
Investors are on edge after China cracked down on cryptocurrency miners last week. The Chinese government is reportedly concerned about the mining industry's soaring energy usage, at a time when climate change fears are mounting. The crackdown will result in a greater than 90% reduction in Bitcoin mining capacity in the country, according to the Chinese newspaper Global Times. 

Many cryptocurrencies saw their price ... Read more »

Category: News | Views: 187 | Added by: danyagames2007 | Date: 23.06.2021 | Comments (0)

El Salvador President Nayib Bukele has taken to Twitter to share some mock-ups of the country’s volcano-powered Bitcoin mining project that is being built right now.

The millennial leader wrote that “clean hashrate” was “coming soon” to El Salvador.

As reported by U.Today, Bukele instructed a state-owned electricity company to start working on the project within the same day the idea was casually suggested to him during a live audio conversation on Twitter.   

El Salvador has 23 active volcanoes. Heat energy within the sub-surface of the earth can create powerful steam that is capable of generating electricity.     
Despite being the smallest country in Cen ... Read more »

Category: News | Views: 143 | Added by: danyagames2007 | Date: 23.06.2021 | Comments (0)

“Bear Market” seems to be the new trending term in the crypto space these days. Many analysts have been using this term to make predictions about the market going forward, keeping Bitcoin as their focal point. Joining this bandwagon, some traders and on-chain metrics analysts added fancy charts to their tweets to make their predictions seem valid.

However, with the active market dip, Whales now have everyone’s attention, as their recent movement has been suggested to cause the market’s negative momentum. 

Whales Hold the Blame?

Ki-Young Ju, CEO of CryptoQuant recently put out a series of tweets analyzing the current market conditions. His analysis’s prime focus was on Whales’ ... Read more »

Category: News | Views: 186 | Added by: danyagames2007 | Date: 23.06.2021 | Comments (0)