On the evening of December 28, 2022, the Bitcoin (BTC) network’s computational processing power increased to a range of 300 EH/s. Three days before the spike, Texas-based bitcoin miners reduced their hash power, relieving the grid of any extra strain. As a result, BTC’s hashrate dropped to a low of 170 EH/s. Since yesterday’s climb […]
Tuesday’s holiday-weakened trading saw the Australian dollar (AUD) rise to about $0.675; China’s announcement that it will abolish quarantine rules for incoming tourists beginning on January 8 symbolized the end of its “zero-Covid” policy and boosted market sentiment. Australian Dollar Comes On Top The resumption of China’s outward visa issuance on January 8 made the […]
As the market adjusted to the possibility of weaker export revenues following sanctions on Russian oil, the ruble fell by almost 3% versus the dollar on Tuesday, failing to sustain a recovery from last week’s decline. Following the implementation of an oil embargo and price cap, the ruble lost roughly 8% versus the dollar last […]
Many bitcoin (BTC) and ethereum (ETH) have been removed from crypto exchanges since the start of FTX’s collapse on November 5, 2022. According to data from cryptoquant.com, 356,848 BTC, or $6 billion using the current bitcoin exchange rates, have been removed since that day 51 days ago. The majority of bitcoin and ethereum withdrawals have […]
Non-fungible token (NFT) owners haven’t had a good year in 2022, and statistics indicate that interest in the topic has significantly decreased this year. The search phrase “NFT” got a score of about 52 for the week of December 26, 2021, to January 1, 2022, according to Google Trends (GT) data. On January 16–22, 2022, […]
The value of the Argentine peso has fallen to historic lows as a result of a sharp decline. On December 23, local media reported that one of the unofficial, or “blue dollar,” exchange rates between the currency and the U.S. dollar had risen to 340 pesos. This represents a 5-month low for the peso following […]
The dollar fell against the majority of currencies on Friday in turbulent, thin trading as data showed that the US economy is slowing down a touch, supporting forecasts of more gradual Federal Reserve interest rate increases and boosting investors’ risk appetite, according to Reuters. After increasing by 0.4% in October, the personal consumption expenditures (PCE) […]
Jair Bolsonaro, the president of Brazil, has approved the whole crypto regulation bill that had just been passed by the Senate and Chamber of Deputies of that nation on Thursday without making any changes. Brazil's President officially signs into law a bill legalizing crypto payments in the country — Blockworks (@Blockworks_) December 22, 2022 On […]
According to Hashkey Capital’s end-of-year report, decentralized finance (DeFi) has the potential to be “several times more scalable than the existing financial industry.” DeFi protocols are resilient and are likely to survive black swan events like the Terra Luna/UST collapse in addition to their scaling potential, the paper suggested. Hashkey Capital, an end-to-end financial services […]
