Tesla recently announced a $1.5 billion investment in Bitcoin and that the company intends to accept the asset as payment. Bitcoin, in reactionary mode, registered a new ATH. Reactions to this were varied: Michael Saylor, CEO of MicroStrategy, stated that Elon Musk’s decision would benefit the entire world. Members of the crypto community expected BitcoinContinue reading “$57 million in Bitcoin short positions liquidated on OKEx during today’s rally”

In the wake of Yearn.finance’s recent hack, members of the crypto community seem to be brainstorming ways to mitigate the effects of the exploit on users. With a total value locked at $491.5 million, the DeFi project recently suffered a theft of $2.8 million and cost the vault $11 million in stablecoin DAI.  In itsContinue reading “Here’s how the crypto community is trying to mitigate Yearn.finance exploit”

Bitcoin energy consumption has increased to more than 75 TWh, making it the highest level since late 2020. Every year, the world’s largest crypto network consumes close to 77.8 TWh according to Digiconomist’s Bitcoin Energy Consumption Index.  The latest data estimated that the total energy consumption of the Bitcoin network is how much Chile consumesContinue reading “Is there a solution to Bitcoin’s high energy consumption?”

Bitfinex has now repaid a $750 million loan to Tether, which thereby cancels the $900 million credit lines between the two firms – iFinex Inc and Tether. Bitfinex had borrowed $750 million in 2018 from Tether and managed to repay $200 million in the last two years.  According to an announcement published on 5 February, theContinue reading “Bitfinex repays $550 million to Tether, the remaining loan balance”

Decentralized Finance (DeFi) is beginning to take over the digital financial world and we are estimating Decentralized Finance market to hit 1 trillion USD valuation by 2023. Ethereum is an innovative scalable blockchain that DeFi needs. Defiqa is a package of DeFi infrastructure that Ethereum needs. Defiqa will bring everything that is necessary for theContinue reading “Defiqa Finance (DFI ), a decentralized finance project: join their token pre-sale today”

China-based Poolin, the second-largest Bitcoin mining pool acquired North American mining pool NovaBlock. According to a public announcement addressed to its business partners, NovaBlock revealed that all hashrate will automatically switch to Poolin from 8 February. The hashrate migration of NovaBlock’s 1.07 exahash per second (EH/s) will merge with Poolin’s 12.28 EH/s. The switch willContinue reading “Second-largest Bitcoin mining pool, Poolin acquires NovaBlock”

With no sign of a major dip in price, Ether has continued to rally and has now reached another ATH of $1,732, across all major crypto exchanges. In the last hour, Ethereum was up over 5.7% over the past 24 hours. After breaking its recent resistance at $1,500, the price of Ether breached a newContinue reading “Ethereum continues to rally: price soars to $1,700 mark”

The United States Consumer Financial Protection Bureau is investigating PayPal’s Venmo app after the company received a civil investigative demand from the authority, on 5 February. According to reports, the Bureau has alleged that the digital wallet company conducted “unauthorized fund transfers and collections processes.” Leading online payment company PayPal acquired Venmo in 2014 forContinue reading “Venmo, PayPal’s crypto focused app is under investigation”

Who would have thought that DOGE would see the hike we witnessed in the past seven days? The joke coin meant to make fun of the crypto economy was trading at $0.04 with a 4.7% hike in the last hour. The surge could be due to Elon Musk shilling DOGE today.  Doge — Elon MuskContinue reading “The pros and cons of Dogecoin you need to know”

Open source DeFi Protocol’s Aave token (AAVE) reached a new all-time high of $520 with a 45.5% surge in price in the past 24 hours. In the last seven days, the DeFi token saw a 76% spike in price.  AAVE, which is the 15th largest coin by market cap, increased to the $500 range fromContinue reading “DeFi: AAVE reaches new high of $520”

Scammers are targeting Discord users on crypto-focused servers, through private messages that appear to come from fake exchanges that are giving away Bitcoin and Ether. A new report from Kaspersky stated that the perpetrators even went to great lengths to make the fake site appear as convincing as possible. The message contains a link thatContinue reading “Scammers target Discord users with fake exchange and Bitcoin giveaways”

The past week has witnessed a surge in Ether’s prices with the asset breaching the $1,600 mark on 4 February.  However, amid a surge in price, transaction costs have been on the rise as well.  As a result of the high level of GAS fees, Japan-based crypto exchange Liquid announced that it has temporarily haltedContinue reading “Liquid exchange temporarily suspends ERC-20 token and Ethereum withdrawals. Here’s why”