Europe’s Top Miners Share Local Industry Insights

A report compiled by non-profit research institute, dGen, has found that European crypto miners believe that the region’s higher electricity prices when compared to China and Russia are offset by political stability, robust regulation, and strong protections. The study also found that many miners based in Europe feel prepared for the Bitcoin (BTC) block reward halving, emphasizing that higher electricity prices have forced many miners to invest in highly efficient technologies. Robust regulation offsets expensive electricity in Europe F2Pool’s global business director, Thomas Heller, stated that “[h]igher electricity prices are…

15% Correction Drops Bitcoin Price to $8,100 Days Before BTC Halving

At 12:40 A.M. UTC time Bitcoin (BTC) price dropped from $9,574 to $8,112 in the course of 15 minutes.  The 15.30% drop came after the top ranked digital asset on CoinMarketCap struggled to reclaim the $9,800 support after falling below the support which formed the base of a bull pennant and was also aligned with a high volume node on the volume profile visible range indicator.  Crypto market weekly price chart. Source: Coin360 The unexpected drop is likely to have caught many traders off guard and data from Skew shows…

$3B Trading Platform Rebranded Amid High Profile Acquisition

European crypto asset manager, CoinShares, announced the launch of its new trading business, CoinShares Capital Markets, or CSCM, on May 7. The subsidiary comprises a rebranding of GABI Trading, with CoinShares now entering into the final stages of acquiring the firm.  In 2019, the firm processed more than $3 billion worth of trades while it was an active proprietary trading shop owned by Global Advisors Group. Trade activity has accelerated in 2020, with the firm reporting over $1.5 billion in notional volume for the first quarter. The company has operated…

Coinbase Sees “Partial Outage” as Bitcoin Price Dives $2,000 In 24 Hours

Bitcoin hasn’t done too hot over the past hour. After closing Saturday’s candle at $9,600, the cryptocurrency fell off a cliff, hitting a low of $8,100 on some exchanges on an influx of sell orders. This marked a nearly $2,000 reversal from where Bitcoin was trading at just 24 hours earlier. Few traders were ready for this move, accentuated by the $230 million worth of BitMEX long liquidations, and exchanges didn’t seem to be ready either. Coinbase Crashes Alongside Bitcoin Due to this being one of the fastest drops in…

Bitcoin Dives 15% to $8,500, Liquidating $200 Million In BitMEX Longs

Since the daily close 20 minutes ago, Bitcoin has fallen off a cliff. The cryptocurrency has collapsed from $9,800 where it spent most of Saturday to $8,000 — a drop of more than 15% — since the daily close, shedding support level after support level as if they were not notable at all. TradingView.com Few traders were expecting this move. According to data from Skew.com, over $200 million worth of BitMEX long positions have been liquidated in the past 25 minutes. This is the largest bout of liquidations since the…

US Mining Firm Plans to Nearly Double Hash Rate After Halving

U.S.-based mining firm, Riot Blockchain, has more than doubled the number of next-generation Bitcoin (BTC) miners it has purchased, buying 1,040 Antminer S19s from Bitmain on May 6.  The additional miners cost the firm $1.9 million, following Riot’s purchase of 1,000 S19s Pros, revealed on April 30. Riot predicts 80% increase in hash rate after deploying S19s Anticipating that the units will have been shipped and deployed during the third quarter of this year, Riot expects the coming 2,040 S19s will increase its operational hashrate by 80% by 2021. In…

Looks Like the Loom Network Has Thrown in the Towel

According to available information at press time, sources show a highly uncertain future for the Loom Network, a platform-as-as-service blockchain project. Cointelegraph investigated a number of Loom Network communication channels, finding no firm proof of a live project.   A May 8 tweet from Bruno Skvorc, owner of blockchain and cryptocurrency education platform, Bitfalls, led Cointelegraph staff down an investigative rabbit hole into the project’s current status. Loom no longer has an active Telegram, Reddit, or blog. The project’s main team has also left, Skvoric said in the tweet. “I’d call it…

Kik’s Drama With The SEC May Soon Be At An End

A new round of documents have been filed in the lengthy dispute between the United States Securities and Exchange Commission, or SEC, and Kik Interactive Inc. over the messaging company’s 2017 initial coin offering, or ICO. Both parties are seeking summary judgment, with the SEC submitting a proposed order that it hopes the court will sign. However, Kik is confident that the judge will rule in its favor, asserting that the SEC’s argument rests heavily on construing the Telegram case as precedent. SEC proposes summary judgment order The SEC filed…

Top Strike Rate Bitcoin Signal That Preceded a 2,000% Rally Just Returned

While it was just eight weeks ago that Bitcoin was trading at $3,700 in the depths of a bear market, key signals are already showing BTC is just entering a bull market. One such signal, an indicator that purportedly has an 8/8 or 100% strike rate, just appeared on Bitcoin’s chart, a top analyst has observed. Bitcoin Prints Extremely Strong Buy Signal According to a top crypto trader, the Super Guppy indicator just flipped green on Bitcoin’s daily chart, which is a sign that “we will likely go higher.” The…

Cryptocurrency News From Japan: May 3

This week’s headlines from Japan included Taotao exchange revealing positive first year numbers, the Japan Crypto Trading Association unveiling crypto asset market rates, Coincheck announcing recent positive fiscal year totals, and Cointelegraph diving into the scene around several exchanges in Japan.  Check out some of this week’s crypto and blockchain headlines, originally reported by Cointelegraph Japan. Taotao exchange sees soaring volume Taotao, a crypto exchanged backed by Yahoo Japan, saw rising customer figures during Q1 2020, seeing over 7,000 total users by the end of March 2020. Glossing performance from a fiscal…