Bitcoin miner Argo Blockchain suspends Nasdaq trading
Bitcoin miner Argo Blockchain requested that trading be temporarily suspended on Nasdaq ahead of Wednesday’s open. The miner said two weeks ago that it was in “advanced negotiations with a third party” to sell certain assets to avoid filing for bankruptcy.
Argo Blockchain, the UK-based company, is also listed on the London Stock Exchange, which…
https://cryptoinsight.ae/bitcoin-miner-argo-blockchain-suspends-nasdaq-trading/
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Bitcoin miner Argo Blockchain requested that trading be temporarily suspended on Nasdaq ahead of Wednesday’s open. The miner said two weeks ago that it was in “advanced negotiations with a third party” to sell certain assets to avoid filing for bankruptcy.
Argo Blockchain, the UK-based company, is also listed on the London Stock Exchange, which…
https://cryptoinsight.ae/bitcoin-miner-argo-blockchain-suspends-nasdaq-trading/
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😺 The activity of holders of Tether (USDT) and USD Coin (USDC) stablecoins deployed on the Optimism Level 2 protocol has begun to increase.
👨💻 According to Santiment, the amount of transactions in these digital currencies with fiat collateral exceeded $1 billion.
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👨💻 According to Santiment, the amount of transactions in these digital currencies with fiat collateral exceeded $1 billion.
Website | Twitter | LinkedIn | Telegram
📉 Over the past 12 months, the cryptocurrency market has lost $2.2 trillion. The total capitalization of the cryptocurrency market is now about $797 billion.
🧮 BTC with a total market value of over $320.5 billion is 40% of the market capitalization. ETH - with $144 billion - 18%.
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🧮 BTC with a total market value of over $320.5 billion is 40% of the market capitalization. ETH - with $144 billion - 18%.
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Summary of the day: December 28
🖼 According to analyst firm Nansen, trading volume with NFT on Ethereum in 2022 was $23.7 billion. Transaction volume ($1.6 billion) peaked in early May 2022, when Yuga Labs unveiled Otherside's meta-universe. The NFT collection Bored Ape Yacht Club had the highest turnover.
👨💻 IntoTheBlock analysts say Bitcoin and Ethereum are down 64% and 68%, respectively, in 2022. At the same time, the S&P500 and Nasdaq 100 indices fell in value by 19% and 32%, respectively.
🏟 U.S.-based cryptocurrency exchange Kraken said it has decided to cease operations in Japan.
📤 The transfer of cryptocurrencies by miners to exchanges fell to a four-year low. Now it is only 3.12 BTC per hour. In general, this situation suggests that sellers' pressure is weakening, and the market is approaching the local bottom.
🇰🇵 North Korean scammers have created over 190 NFT-themed websites to steal tokens. They focus on the Ethereum and Solana ecosystem NFT projects. NFT is hunted by distributing links to malicious websites using the NFT marketplaces OpenSea, Rarible, and X2Y2.
😺 The activity of holders of Tether (USDT) and USD Coin (USDC) stablecoins deployed on the Optimism Level 2 protocol has begun to increase. According to Santiment, the amount of transactions in these digital currencies with fiat collateral exceeded $1 billion.
🤑 Bankman-Fried admitted borrowing money from Alameda to buy Robinhood shares. The former FTX CEO, along with Gary Wang, set up the company to buy shares of the online brokerage. The $546.4 million in funds came from Alameda Research.
📉 Over the past 12 months, the cryptocurrency market has lost $2.2 trillion. The total capitalization of the cryptocurrency market is now about $797 billion. BTC with a total market value of over $320.5 billion is 40% of the market capitalization. ETH - with $144 billion - 18%
🇨🇳 China's central bank is trying to accelerate the introduction of digital yuan through gifts and invitations. For example, a gift menu has become available with electronic gift certificates in the form of red envelopes with digital money.
Website | Twitter | LinkedIn | Telegram
🖼 According to analyst firm Nansen, trading volume with NFT on Ethereum in 2022 was $23.7 billion. Transaction volume ($1.6 billion) peaked in early May 2022, when Yuga Labs unveiled Otherside's meta-universe. The NFT collection Bored Ape Yacht Club had the highest turnover.
👨💻 IntoTheBlock analysts say Bitcoin and Ethereum are down 64% and 68%, respectively, in 2022. At the same time, the S&P500 and Nasdaq 100 indices fell in value by 19% and 32%, respectively.
🏟 U.S.-based cryptocurrency exchange Kraken said it has decided to cease operations in Japan.
📤 The transfer of cryptocurrencies by miners to exchanges fell to a four-year low. Now it is only 3.12 BTC per hour. In general, this situation suggests that sellers' pressure is weakening, and the market is approaching the local bottom.
🇰🇵 North Korean scammers have created over 190 NFT-themed websites to steal tokens. They focus on the Ethereum and Solana ecosystem NFT projects. NFT is hunted by distributing links to malicious websites using the NFT marketplaces OpenSea, Rarible, and X2Y2.
😺 The activity of holders of Tether (USDT) and USD Coin (USDC) stablecoins deployed on the Optimism Level 2 protocol has begun to increase. According to Santiment, the amount of transactions in these digital currencies with fiat collateral exceeded $1 billion.
🤑 Bankman-Fried admitted borrowing money from Alameda to buy Robinhood shares. The former FTX CEO, along with Gary Wang, set up the company to buy shares of the online brokerage. The $546.4 million in funds came from Alameda Research.
📉 Over the past 12 months, the cryptocurrency market has lost $2.2 trillion. The total capitalization of the cryptocurrency market is now about $797 billion. BTC with a total market value of over $320.5 billion is 40% of the market capitalization. ETH - with $144 billion - 18%
🇨🇳 China's central bank is trying to accelerate the introduction of digital yuan through gifts and invitations. For example, a gift menu has become available with electronic gift certificates in the form of red envelopes with digital money.
Website | Twitter | LinkedIn | Telegram
Hello there!
Day started from:
The global cryptocurrency market cap today is $829 Billion, a -0.2% change in the last 24 hours
Bitcoin ~ $16,571.50 (-0.2%)
Ethereum ~ $1,194.82 (0.1%)
Solana ~ $9.70 (-2.6%)
Polkadot ~ $4.31 (-0.3%)
Flow ~ $0.682276 (-2.5%)
Follow and subscribe - @GulfCryptoInsight
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Day started from:
The global cryptocurrency market cap today is $829 Billion, a -0.2% change in the last 24 hours
Bitcoin ~ $16,571.50 (-0.2%)
Ethereum ~ $1,194.82 (0.1%)
Solana ~ $9.70 (-2.6%)
Polkadot ~ $4.31 (-0.3%)
Flow ~ $0.682276 (-2.5%)
Follow and subscribe - @GulfCryptoInsight
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Coinbase stock hits new lows, falling almost 87% over the year
Coinbase stock has fallen to an all-time low of $32.40 per share, dropping 6% over the past five days. America’s largest crypto exchange is ending the year on a sad note amid falling revenues and profits.
It has been a brutal 2022 for Coinbase investors, with the company’s stock falling almost 87% over the year…
https://cryptoinsight.ae/coinbase-stock-hits-new-lows-falling-almost-87-over-the-year/
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Coinbase stock has fallen to an all-time low of $32.40 per share, dropping 6% over the past five days. America’s largest crypto exchange is ending the year on a sad note amid falling revenues and profits.
It has been a brutal 2022 for Coinbase investors, with the company’s stock falling almost 87% over the year…
https://cryptoinsight.ae/coinbase-stock-hits-new-lows-falling-almost-87-over-the-year/
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What's wrong with Ethereum?
Today, Ethereum, with a total market value of about $146 billion, provides 18% of the cryptocurrency market's capitalization. ETH is trading just below $1,200, and chances are that this psychological mark will become the altcoin's support zone in early 2023.
At the same time, analysts have noticed a sharp decline in Ethereum volume on cryptocurrency exchanges. Since the beginning of 2022, the number of coins on trading floors has decreased by more than 30%. And the withdrawal of ETH continues as hoarding sentiment dominates among traders. In 2022, the outflow of the second most important cryptocurrency was the largest. Analysts point to Ethereum's departure from both the spot market and crypto derivatives exchanges.
Most likely, traders are pursuing a long-term storage strategy, which is why they are withdrawing ETH from centralized exchanges. They believe that the future value of Ethereum will be higher than the current values, so they are not looking to sell it now.
However, there is one unpleasant point: it is the NVT indicator, which reflects the ratio of the market capitalization of the asset to the volume of transactions with it. Ethereum's NVT reached a 5-year high of 4986. Understandably, such results do not please ETH holders. The main reason is the relatively high value of this crypto-asset at such a low level of activity. This means that without a significant increase in the number and volume of transactions in the Ethereum blockchain, we can expect another wave of capitulation in the market.
However, after the transition to the proof-of-stake consensus algorithm, the cost of gas in Ethereum has never fallen to an acceptable level for most users. This means they continue to look for L2 solutions that are acceptable to them. The popularity of second-tier protocols - such as Optimism and Arbitrum - is boosting demand for ETH among long-term investors, but the overall level of risk in the industry remains quite high. And scalability remains an issue for Ethereum.
Very clearly and succinctly, Ethereum's current problems were described by Ray Yousef, founder and head of the Paxful trading platform. He justified his refusal to trade ETH on his site by the fact that after Ethereum switched to the Proof-of-Stake algorithm, there is no real decentralization in it. The distributed ledger is controlled by a small group of people, and there are too many scam projects on the Ethereum blockchain.
Admittedly, much of the relevance and value of Ethereum is supported by the fact that NFT's trading volume on Ethereum in 2022 was $23.7 billion. The peak in transaction volume ($1.6 billion) came in early May, when Yuga Labs introduced the Otherside metaverse. And Ethereum is now vastly outperforming other ecosystems in terms of NFT trading volume.
Except that the future of Ethereum now looks murky. We have to admit: we all expected something much more from the transition from PoW to PoS.
Today, Ethereum, with a total market value of about $146 billion, provides 18% of the cryptocurrency market's capitalization. ETH is trading just below $1,200, and chances are that this psychological mark will become the altcoin's support zone in early 2023.
At the same time, analysts have noticed a sharp decline in Ethereum volume on cryptocurrency exchanges. Since the beginning of 2022, the number of coins on trading floors has decreased by more than 30%. And the withdrawal of ETH continues as hoarding sentiment dominates among traders. In 2022, the outflow of the second most important cryptocurrency was the largest. Analysts point to Ethereum's departure from both the spot market and crypto derivatives exchanges.
Most likely, traders are pursuing a long-term storage strategy, which is why they are withdrawing ETH from centralized exchanges. They believe that the future value of Ethereum will be higher than the current values, so they are not looking to sell it now.
However, there is one unpleasant point: it is the NVT indicator, which reflects the ratio of the market capitalization of the asset to the volume of transactions with it. Ethereum's NVT reached a 5-year high of 4986. Understandably, such results do not please ETH holders. The main reason is the relatively high value of this crypto-asset at such a low level of activity. This means that without a significant increase in the number and volume of transactions in the Ethereum blockchain, we can expect another wave of capitulation in the market.
However, after the transition to the proof-of-stake consensus algorithm, the cost of gas in Ethereum has never fallen to an acceptable level for most users. This means they continue to look for L2 solutions that are acceptable to them. The popularity of second-tier protocols - such as Optimism and Arbitrum - is boosting demand for ETH among long-term investors, but the overall level of risk in the industry remains quite high. And scalability remains an issue for Ethereum.
Very clearly and succinctly, Ethereum's current problems were described by Ray Yousef, founder and head of the Paxful trading platform. He justified his refusal to trade ETH on his site by the fact that after Ethereum switched to the Proof-of-Stake algorithm, there is no real decentralization in it. The distributed ledger is controlled by a small group of people, and there are too many scam projects on the Ethereum blockchain.
Admittedly, much of the relevance and value of Ethereum is supported by the fact that NFT's trading volume on Ethereum in 2022 was $23.7 billion. The peak in transaction volume ($1.6 billion) came in early May, when Yuga Labs introduced the Otherside metaverse. And Ethereum is now vastly outperforming other ecosystems in terms of NFT trading volume.
Except that the future of Ethereum now looks murky. We have to admit: we all expected something much more from the transition from PoW to PoS.
NFT sales decline ahead of Christmas
NFT sales volumes fell in the lead-up to Christmas in 2022 as well as in 2021. Meanwhile, Yuga Labs’s Bored Ape Yacht Club’s floor price increased ahead of the holiday.
For the second year in a row, NFT sales have dipped leading up to Christmas. NFT trading volume fell from over $24 million on Dec.…
https://cryptoinsight.ae/nft-sales-decline-ahead-of-christmas/
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NFT sales volumes fell in the lead-up to Christmas in 2022 as well as in 2021. Meanwhile, Yuga Labs’s Bored Ape Yacht Club’s floor price increased ahead of the holiday.
For the second year in a row, NFT sales have dipped leading up to Christmas. NFT trading volume fell from over $24 million on Dec.…
https://cryptoinsight.ae/nft-sales-decline-ahead-of-christmas/
Website | Twitter | LinkedIn | Telegram
China’s CBDC wallet adds new features ahead of the Chinese New Year
The Chinese government is making efforts to boost the adoption of CBDCs in the country. Recently, China launched its digital yuan, called e-CNY. To boost its adoption among its citizens, China added a new feature of sending money in electronic ‘red packets’ that cover displaying traditional wishes for special occasions like birthdays, the New Year,…
https://cryptoinsight.ae/chinas-cbdc-wallet-adds-new-features-ahead-of-the-chinese-new-year/
Website | Twitter | LinkedIn | Telegram
The Chinese government is making efforts to boost the adoption of CBDCs in the country. Recently, China launched its digital yuan, called e-CNY. To boost its adoption among its citizens, China added a new feature of sending money in electronic ‘red packets’ that cover displaying traditional wishes for special occasions like birthdays, the New Year,…
https://cryptoinsight.ae/chinas-cbdc-wallet-adds-new-features-ahead-of-the-chinese-new-year/
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🇨🇳 China will launch the first national NFT-marketplace, it will be built on the blockchain China Cultural Protection Chain, which is controlled by the state. The marketplace will be regulated by organizations: China Technology Exchange, Art Exhibitions China and Huban Digital.
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Website | Twitter | LinkedIn | Telegram
⚡️Michael Saylor announced the launch of MicroStrategy's new Bitcoin Lightning-focused products.
🏭 "Our goal is to create a tool that allows any company to deploy a Lightning network in half a day. It will be integrated into the enterprise technology space," he explained.
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🏭 "Our goal is to create a tool that allows any company to deploy a Lightning network in half a day. It will be integrated into the enterprise technology space," he explained.
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🇻🇪 Banks in Venezuela have begun identifying and blocking accounts that are linked to cryptocurrency platforms at the behest of the authorities.
🏦 Legalrocks, a local law firm, reported that it had recorded more than 75 cases of accounts linked to cryptocurrencies being suspended.
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🏦 Legalrocks, a local law firm, reported that it had recorded more than 75 cases of accounts linked to cryptocurrencies being suspended.
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