Wednesday 28 September 2022
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Could Bitcoin miners’ troubles trigger a ‘death spiral’ for BTC price?

A July 9 post by @PricedinBTC on the "cost to mine Bitcoin" in the United States gathered the crypto community's attention, especially considering the recent headlines that BTC miners have made. The crypto bear market and growing energy costs have caused a perfect storm for the mining sector and this has led some companies to lay off employees and others to defer all capital expenditures. Some went as far as raising concerns of Bitcoin miners hitting a “death spiral.” However, Raymond Nasser, the CEO of Arthur Mining, a professional mining company operating in the United States told Cointelegraph that their margins don't full concur with the data from @PricedinBTC. Arthur Mining's current capacity is 25 megawatts (MW) and the company focuses on environmentally friendly energy sources. At first, one could dismiss their numbers as listed companies like Marathon Digital Holdings have 300 MW plants, but these rely on the traditional grid energy — even if a portion of the p..

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Top 5 cryptocurrencies to watch this week: BTC, ETH, MATIC, FTT, ETC

The United States equities markets recovered from their intra-week lows last week, suggesting demand exists at lower levels. On similar lines, Bitcoin (BTC) also recovered from $18,910 last week, indicating that traders may be getting back into risky assets. However, analysts remain divided in their opinion on the recovery in Bitcoin. While some believe that the relief rally is a bull trap, others expect the up-move to retest the crucial resistance at the 200-week moving average ($22,626). Crypto market data daily view. Source:Coin360The current bear phase has damaged sentiment as seen from the Crypto Fear and Greed Index, which has remained in the “extreme fear” zone since May 6. According to Philip Swift, creator of on-chain analytics platform LookIntoBitcoin, the time spent in the “extreme fear” category is longer than during the 2018 Bitcoin bear market. Could the sentiment stage a turn around boosting crypto prices higher? Let’s study the charts of the top-5 cryptocurrencies to ..

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6 Questions for Lisa Fridman of Quadrata

We ask the buidlers in the blockchain and cryptocurrency sector for their thoughts on the industry… and throw in a few random zingers to keep them on their toes! This week, our 6 Questions go to Lisa Fridman, the president and co-founder of Quadrata, a network that brings an identity and compliance layer to DeFi across existing public blockchains. Lisa Fridman was previously the head of blockchain strategy at Springcoin (Spring Labs). Prior to joining Spring Labs, Lisa served as a co-head of strategy at Martlet Asset Management, CEO of PAAMCO Europe and the global head of research at PAAMCO. Lisa is an experienced investor and a business builder. Throughout her career, she has worked closely with institutions, delivering bespoke solutions. She received her Master of Business Administration and graduated summa cum laude with a Bachelor of Arts in Business Economics from the University of California, Los Angeles. 1 — What does decentralization mean to you, and why is it important?Decentr..

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Ethereum traders gauge fakeout risks after 40% ETH price rally

Ethereum's native token Ether (ETH) saw a modest pullback on July 17 after ramming into a critical technical resistance confluence. Merge-led Ethereum price breakoutETH's price dropped by 1.8% to $1,328 after struggling to move above two strong resistance levels: the 50-day exponential moving average (50-day EMA; the red wave) and a descending trendline (black) serving as a price ceiling since May. ETH/USD daily price chart. Source: TradingViewPreviously, Ether rallied by over 40% from $1,000 on July 13 to over $1,400 on July 16. The jump appeared partly due to euphoria surrounding "the Merge" slated for September. Meanwhile, a golden cross's appearance on Ethereum's four-hour chart also boosted Ether's upside sentiment among technical analysts. ETH price risks fakeoutEther's 40%-plus price rally since July 13 also had its price break above a critical horizontal resistance that somewhat constitutes an "ascending triangle pattern." Ascending triangles are ..

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Bitcoin hodlers will ‘soon see why’ $21.6K BTC price pump is fake — trader

Bitcoin (BTC) spiked to one-week highs on July 17 amid warnings that traders should not trust current BTC price action. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewBinance inflows see multi-week highData from Cointelegraph Markets Pro and TradingView showed BTC/USD reaching $21,600 on Bitstamp, its best performance since last Sunday. The pair saw a fresh leg up during the weekend, this nonetheless coming on the back of thin, retail-driven "out-of-hours" liquidity with institutions out of the picture. With Bitcoin prone to "fakeout" moves both up and down in such conditions, there was thus little appetite to believe that current trajectory would endure as the weekly close loomed. "Don't let CT noise change your vision of how things really are," popular social media account, Il Capo of Crypto, told followers on the day, referencing Crypto Twitter narratives. "Not worried about this scam pump. Still fully out of the market, soon you will see why."Also preparing to ex..

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The women of crypto take over Davos WEF

Many of you closely follow the gathering of the decision-makers at Davos during the annual World Economic Forum. Many of you have very strong opinions about these gatherings, which I share. Right now, however, I would like to discuss what inspired me the most during those five days of the summit. This was my first Davos event, and I could not help noticing how many women decision-makers were present, in stark contrast to similar crypto events happening in Dubai and Lisbon, for example. Yes, the Promenade at Davos was taken over by crypto companies, exceeding the traditional finance and tech presence, but it was the presence of so many women in senior positions representing every segment of the crypto industry that increased my firm belief that the future of the crypto industry is bright. As operations lead of UpLift DAO, a launchpad for innovative crypto community projects, I interact with our community intensely to keep them engaged, and reach out to as many different sectors as poss..

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What is Bitcoin whale watching and how to track Bitcoin whales?

Whales are held responsible for sudden price fluctuations in the crypto and traditional markets every so often. Given their capability to manipulate market prices, it becomes paramount for the general Bitcoin (BTC) investors to understand the nuances that make one a whale and their overall impact on trading. Wallet addresses that contain large amounts of BTC are identified as Bitcoin whales. Dumping or transferring large amounts of BTC from one wallet to another negatively impacts the prices, resulting in losses for the smaller traders. As a result, tracking Bitcoin whales in real-time allows small-time traders to make profitable trades amid a fluctuating market. Despite Bitcoin's global and decentralized nature, tracking down and monitoring whales simply boils down to accessing readily available trading data from crypto exchanges and services. There are four primary ways to track whale activities, which include monitoring known whale addresses, order books, sudden changes in mark..

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How blockchain technology is used to save the environment

In her monthly Expert Take column, Selva Ozelli, an international tax attorney and CPA, covers the intersection between emerging technologies and sustainability, and provides the latest developments around taxes, AML/CFT regulations and legal issues affecting crypto and blockchain. In June, the United Nations held its “Stockholm+50: a healthy planet for the prosperity of all — our responsibility, our opportunity” event, focused on implementing its Decade of Action to deliver the Sustainable Development Goals, 2030 Agenda, Paris Agreement, and Post-2020 Biodiversity Framework, as well as to encourage a green recovery from COVID-19. The event took place 50 years after the first-ever United Nations Conference on the Human Environment in 1972, giving world leaders the chance to reflect on five decades of environmental action focused on tackling the Earth’s climate, nature and carbon dioxide pollution crises. My art show “Reef Dwellers” was an associated event at Stockholm+50. It celebrated..

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Axie Infinity: Re-engineering its destiny in the GameFi landscape

Axie Infinity, the blockchain-based game that has popularized the play-to-earn gaming model, often invites awe and suspicion. The game has created a new type of job market and allows a quick return for game investors. However, its highly volatile in-game crypto (the Smooth Love Potion, or SLP), the hacking of its Ronin chain, and the resulting new digital inequality pose threats to its existence. Axie is a form of “extreme entrepreneurship,” wherein success and failure can happen almost overnight, subject to the dynamics of SLP. Many predictions have been made regarding Axie’s coming collapse and lost trust among its players. Can Axie rise to its former glory amid the crypto winter and uncertain global economy? As a game lover myself, I was very intrigued regarding Axie Infinity’s future, which led to my desire to research and study it. I interviewed more than a dozen Axie managers, guild members, and scholars –– some are still active while others have quit or gone dormant –– throughou..

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Celsius is bankrupt with $1.2B balance sheet hole, Su Zhu returns to Twitter and OpenSea purges 20% of employees: Hodler’s Digest, July 10-16

Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This WeekOpenSea lays off 20% of its staff, citing ‘crypto winter’Leading NFT marketplace OpenSea plans to lay off around 20% of its staff, with co-founder and CEO Devin Finzer citing “an unprecedented combination of crypto winter and broad macroeconomic instability” as the reasons behind the move. He also added, “The changes we’re making today put us in a position to maintain multiple years of runway under various crypto winter scenarios (5 years at the current volume), and give us high confidence that we will only have to go through this process once.” Celsius has filed for bankruptcy Celsius, the crypto lending platform that has had customer funds locked up for several weeks but previously claimed to be more trus..

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