Author: bybito
Currency is one of the most important instruments of a State’s sovereignty. And since the advent of crypto-assets and the faster digitising socio-political and economic activities around the globe, governments are finding viable ways to implement Central Bank Digital Currencies (CBDCs). Similarly, the European Central Bank, the apex bank of the EU, issued a report on the potential of the Euro going digital. The Euro is the second-most widely traded currency in the world. Since the rise of China and a steady shift of power to the East, there have been speculations on Europe’s waning influence in the international sphere. This article, thus, aims at exploring…
Earlier in the year when China renewed its hostilities towards the crypto industry, one metric that saw a negative effect of the crackdown was the Bitcoin mining hashrate that plummeted by more than 50% during this period largely because crypto miners were being pushed out of the Asian country. Bitcoin mining hashrate recovers from China ban With erstwhile Chinese miners finding new homes around the world, Bitcoin mining hashrate has begun an ascent to the top again as available data has shown that the metric has risen by around 80% within the last five months. According to data from Coin Metrics, Bitcoin…
Non-fungible tokens (NFT) are going strong as people are still spending hundreds of thousands of dollars on them.Among the highest priced NFT collectibles out there these days are … clipart rocks.More weird news here. Despite the fact that non-fungible tokens (NFT) aren’t actually real things, they are just digital facsimiles of a real thing (sometimes not even that), the market for some of them is still going through the roof. Even when it makes absolutely no sense whatsoever. Case in point, clipart of a rock that anyone can download for free is being sold for almost $300,000. Called EtherRock, these NFT rocks currently have…
The second-largest cryptocurrency is going to get stronger. The Cryptocurrency market is abuzz with activity and the latest being Ethereum’s big changes. Anticipated by many market experts, Ethereum is the second-largest Cryptocurrency in the market, next to Bitcoin. The world’s most used blockchain network, Ethereum, is bringing changes to the proof of work system. Cryptocurrencies are dependent on the blockchain, a new technology that maintains a ledger of timely transactions. These ledgers are shared on computers globally and are decentralized. In simple terms, the ledgers are not operated by a central authority or a bank. The first blockchain to ever be created was Bitcoin…
One industry leader believes Bitcoin can more than double in the next 12 months. Key points Nexo’s Antoni Trenchev predicts Bitcoin’s price could exceed $100,000 before April 2023. Other financial gurus say Bitcoin could collapse completely or rise above $1 million in the next 10 years. The Ascent’s best crypto apps for 2022 (Bonuses, $0 commissions, and more) Nexo CEO and cofounder Antoni Trenchev thinks the price of Bitcoin (BTC) could reach $100,000 in the next 12 months. Trenchev, who’s no stranger to making Bitcoin price predictions, also warned crypto investors to expect further volatility in the short term. Why Nexo’s…
Crypto exchange Binance said it will perform reverse splits on certain trading tokens linked to litecoin and uniswap. UNIDOWN and LTCDOWN – which generate leveraged gains when the underlying crypto assets decrease in price – will undergo a 100,000:1 reverse token split, Binance announced Monday.This process consolidates existing tokens into a smaller number with higher value.Users with 1 million of the tokens before the split will have 10 after, users with 1 billion tokens before the split will have 10,000 after and so on.Binance will suspend trading in the tokens at 3:00 a.m. UTC Aug. 17, taking a snapshot of the balance in users’ accounts,…
Hive Blockchain Technologies, a publicly traded Canadian crypto-mining company, said it received approval to list its common shares on Nasdaq. Hive Blockchain mines ethereum and bitcoin continuously on the cloud and keeps hold of most of its production. It owns data-center facilities in Canada, Sweden, and Ireland.The Vancouver-based company went public in 2017 and said it will retain its listing on the TSX Venture Exchange, trading under the ticker symbol “HIVE.”The shares have gained about 33% this year.Hive did not say when the Nasdaq shares would start trading.In May, the firm sold its Norwegian subsidiary Kolos Norway AS after the government abolished power subsidies. — With…
Former acting Comptroller of the Currency Brian Brooks has resigned as the CEO of Binance U.S. after just over three months. He cited “differences over strategic direction.” Meanwhile, Binance is facing regulatory scrutiny worldwide, including in the U.K., Malaysia, Japan, Cayman Islands, Hong Kong, Thailand, Germany, and Lithuania. CEO of Binance US Resigns The CEO of Binance U.S., Brian Brooks, announced Friday on Twitter that he has resigned from Binance. The former acting Comptroller of the Currency and former chief legal officer at cryptocurrency exchange Coinbase tweeted: Greetings crypto community. Letting you all know that I have resigned as CEO…