June 2022 / 76 posts found
Kraken Daily Market Report for June 24 2022
Bitcoin Bitcoin Overview Daily spot trading volume: $620.9 million, 30 day average spot: $762.7 million. Total futures notional: $165.7 million. The top five traded coins were, respectively, Tether (↑0.02%), Bitcoin (↑0.6%), Ethereum (↑7.0%), USDC (↑0.01%), Solana (↑9.8%). Strong returns from Keep3rV1 (↑34%), Alchemix (↑32%), and Yearn (↑29%). June 24, 2022 $620.9M traded across all markets today Crypto, EUR, USD, JPY, CAD, GBP, CHF, AUD USDT $1.00 ↑0.02% $179.3M BTC $21210.70 ↑0.6% $170.0M ETH $1224.00 ↑7.0% $106.6M USDC $1.00 ↑0.01% $60.2M SOL $41.86 ↑9.8% $22.2M…
Swiss Luxury Brand Hublot Adopts Bitcoin Payments
The Swiss luxury watchmaker – Hublot – allowed its customers to buy certain limited products in cryptocurrencies by partnering with the bitcoin payment service provider – BitPay. In addition, Prague City Tourism joined forces with Global Payments to enable passengers of the emblematic Tram Line number 42 to purchase tickets in digital assets. Hublot Enters the World of Crypto Embracing cryptocurrencies as a means of payment has turned into a move practiced by numerous companies part of the fashion industry. The Switzerland-based renowned watchmaker – Hublot – is the latest member of that club. In a recent announcement, the firm […]
Bitcoin Electricity Consumption Down by 25% Since Early June
Bitcoin Bitcoin’s energy consumption has reportedly declined drastically since only three weeks ago. Estimates from the Cambridge Bitcoin Electricity Consumption Index on Friday show that the network now consumes more than 25% less power than it did at the start of the month. According to the index, Bitcoin’s current electricity consumption is approximately 10.65 gigawatts. That’s down from the 14.34-gigawatt estimate recorded on June 6th. At these levels, Bitcoin estimated annualized power consumption now sits at 93.33 terawatt-hours – down substantially from May’s high of 150 terawatt-hours. The estimates are based on a “profitability threshold” that uses “different types of […]
When Will Bitcoin Bottom Out? Pi Cycle Bottom Says It Will Happen on July 9
Many cryptocurrency enthusiasts have heard of the Pi Cycle Top indicator, which has “magically” predicted the peaks of several previous bull markets. However, few know that there is also its opposite, Pi Cycle Bottom, which also has some track record in trying to estimate the bottom of a bear market. But before we take a closer look at Pi Cycle Bottom, let’s remind ourselves why its bullish nemesis has earned so much popularity. The historic effectiveness of the Pi Cycle Top We first wrote about the Pi Cycle Top on BeInCrypto over a year ago, when Bitcoin was close to […]
The Pre-Bitcoin History You Should Know: Basic Cash Versus Fiduciary Media
Bitcoin This is an opinion editorial by Matthew Mezinskis, creator of the “Crypto Voices” podcast and Porkopolis Economics. Take a moment to reflect on how long you’ve been in Bitcoin. Now take another to ask yourself how many articles on money you’ve read along the way; And not just those medium-of-exchange or store-of-value pieces. Think about the philosophizing diatribes which purport to identify the mysterious meanings of what “money” is. And then the ultimate twist, how does Bitcoin fit in? Many words have been written by Bitcoiners, many by its detractors. From the “social contract theory” and “something we all […]
Bitcoin Mining Can Prevent Climate Change
Daniel Batten is a climate tech investor, author, analyst and environmental campaigner who previously founded and led his own tech company. 2022 has changed everything that we in the environmental, social and governance (ESG) sector thought we knew about Bitcoin. We thought it was a net negative for the environment. We could not have been more wrong. It turns out that Bitcoin mining has the potential to avoid an astonishing 0.15°C of global warming. This is true because Bitcoin is the only technology that’s available, practical and scalable when it comes to tackling the world’s most deadly greenhouse gas of […]
Bitcoin billionaire Sam Bankman-Fried bails out embattled crypto firms BlockFi and Voyager
Bitcoin Sam Bankman-Fried, CEO of FTX US Derivatives, testifies during the House Agriculture Committee hearing titled Changing Market Roles: The FTX Proposal and Trends in New Clearinghouse Models, in Longworth Building on Thursday, May 12, 2022. Tom Williams | CQ-Roll Call, Inc. | Getty Images With no central bank willing to come to the rescue, beleaguered crypto companies are turning to their peers for help. Billionaire crypto exchange boss Sam Bankman-Fried has signed deals to bail out two firms in as many weeks: BlockFi, a quasi-bank, and Voyager Digital, a digital asset brokerage. FTX, Bankman-Fried’s crypto exchange, agreed Tuesday to […]