Weak stocks and declining DeFi use continue to weigh on Ethereum price

weak-stocks-and-declining-defi-use-continue-to-weigh-on-ethereum-price

Crumbling tech stock prices, declining DApp use and bearish derivatives data continue to pin ETH price below $2,000. Ether’s (ETH) 12-hour closing price has been respecting a tight $1,910 to $2,150 range for twelve days, but oddly enough, these 13% oscillations have been enough to liquidate an aggregate of $495 million in futures contracts since … Read more

Top 3 cryptocurrencies that are faring the best in the 2022 bear market

top-3-cryptocurrencies-that-are-faring-the-best-in-the-2022-bear-market

The list is curated after studying the drawdowns of the top 30 crypto assets by market cap from their record highs. The crypto market has been in decline over the past six months with its valuation dropping from over $3 trillion in November 2021 to $1.23 trillion in May 2022. Fears over persistently higher inflation, … Read more

Russia’s updated crypto mining bill cuts tax amnesty for Bitcoin miners

russia’s-updated-crypto-mining-bill-cuts-tax-amnesty-for-bitcoin-miners

Legislators in the lower house of Russia’s parliament also dropped the notion of a special register for mining operators. In less than a month, the draft of a crypto mining bill in the Russian parliament has lost several key points, such as the obligation for mining operators to join a special registry and a one-year … Read more

Russia Will Legalize Crypto in Some Way Sooner or Later, Local Minister Says

russia-will-legalize-crypto-in-some-way-sooner-or-later,-local-minister-says

Russia’s Industry and Trade Minister – Denis Manturov – revealed that the local authorities will eventually legalize cryptocurrencies as a means of payment “in some format or other.” The possible approval would strongly oppose the central bank’s proposal for a blanket ban on all digital asset endeavors. Russia Will Say ‘Yes’ to Crypto as a … Read more

Russia will inevitably legalize crypto payments says trade minister

russia-will-inevitably-legalize-crypto-payments-says-trade-minister

“The question is when this will happen, how it will happen and how it will be regulated. Now both the Central Bank and the government are actively engaged in this,” said trade minister Denis Manturov. Russia will legalize crypto payments “sooner or later” according to the Ministry of Industry and Trade of the Russian Federation, … Read more

Russia Legalizing Bitcoin And Crypto Is A Matter of Time, Says Minister of Industry And Trade

russia-legalizing-bitcoin-and-crypto-is-a-matter-of-time,-says-minister-of-industry-and-trade

Denis Manturov, Russian minister of industry and trade, explains that legalizing bitcoin and other cryptocurrencies as payment will happen given time. The legalization of bitcoin and other cryptocurrencies as a means of payment is only a matter of time according to the Russian minister of industry and trade. The minister explains that the process of … Read more

New Data Shows China Still Controls 21% Of The Global Bitcoin Mining Hashrate

new-data-shows-china-still-controls-21%-of-the-global-bitcoin-mining-hashrate

China is back with a vengeance. The Cambridge Centre for Alternative Finance, or CCAF, collected data “spanning the period from September 2021 to January 2022” for their latest study. The headline is that, ban or no ban, the Asian country controls 21% of the Global Bitcoin mining hashrate. Since June 2021, here in NewsBTC, we’ve … Read more

China Emerges as Leading Bitcoin Mining Hub a Year After Crackdown: Cambridge Data

china-emerges-as-leading-bitcoin-mining-hub-a-year-after-crackdown:-cambridge-data

China outlawed Bitcoin mining last May. Exactly a year later, the country has re-emerged as the leading venue for mining operations. A new study revealed underground mining activity in the country had catapulted it to second place globally in terms of installed mining capacity. China’s Apparent Comeback Cambridge Centre for Alternative Finance (CCAF) reported the … Read more

China returns as 2nd top Bitcoin mining hub despite the crypto ban

china-returns-as-2nd-top-bitcoin-mining-hub-despite-the-crypto-ban

China still hosts 21% of the total global Bitcoin hash rate after the local government banned all crypto operations in the country last year. The Chinese government has not managed to take down cryptocurrency operations as part of its crypto ban last year as China has re-emerged as one of the world’s largest Bitcoin (BTC) … Read more

Russian Crypto Miner Considers Suing US Authorities for Imposed Sanctions

russian-crypto-miner-considers-suing-us-authorities-for-imposed-sanctions

BitRiver –  Russia’s largest data center services provider – is pondering over filing a lawsuit against the US Treasury Department for adding the company to the sanction list last month. Besides, the firm accused the US of breaching WTO rules through the act of promoting unfair competition and lobbying for the US mining industry. BitRiver … Read more