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Biggest Movers: LTC, ETC Rebound on Monday, Despite Bearish Sentiment

August 21, 2023 0

Litecoin was back in the green to start the week, despite the crypto market continuing to trend mostly lower. At the time of writing, the global market cap is down 0.59%, following a recent red wave. Ethereum classic also climbed higher on Monday, hitting a four-day high in the process.

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As Ordinal Transaction Dominance Soars, NFT Advocates Question Bitcoin’s Reported Downturn

August 21, 2023 0

Metrics reveal a significant day for the Bitcoin blockchain as 411,511 Ordinal inscriptions were minted Sunday, clinching the title of the second most prolific day for inscriptions ever. Additionally, over the past seven days, Ordinal inscriptions represented a hefty 53.9% of all transaction activity on the Bitcoin network. Ordinals’ Unprecedented Impact: 53% of Bitcoin’s

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Bitcoin, Ethereum Technical Analysis: BTC, ETH Consolidate, Following Last Week’s Losses

August 21, 2023 0

Bitcoin rebounded from this weekend’s low on Monday, as markets attempted to consolidate following recent losses. The cryptocurrency rose back above the $26,000 level, after a brief stint below this point. Ethereum also settled, after declines over the weekend. Bitcoin Bitcoin was marginally higher to start the week, as the cryptocurrency climbed back above the […]

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Australia-Based Crypto Lender Sentenced for False Credit License Claims

August 21, 2023 0

The Australian securities regulator recently revealed that the crypto lending platform Helio pleaded guilty to the allegation of falsely claiming to be a holder of the Australian Credit License (ACL). For admitting to committing the offense, Helio is said to have entered a “recognisance” of $9,560 (AUD15,000) for 12 months which is contingent on the […]

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Mining Bitcoin on Household Electricity Most Profitable in Asia, Study Finds

August 21, 2023 0

Despite significant variations in electricity rates and regulations, the Asian region as a whole has the lowest average cost of bitcoin mining for solo miners, new research shows. At the same time, the surge of energy prices due to Covid, heatwaves, and the war in Ukraine render bitcoin mining largely unprofitable throughout Europe. Mining 1 […]

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Latam Insights — Javier Milei’s Victory Divides Argentina; Bitso Launches Cross-Border Institutional Payment Service

August 21, 2023 0

Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: Javier Milei’s victory in Argentina causes a devaluation maelstrom, and Bitso launches a cross-border institutional payments service. Javier Milei’s Victory in Argentina Sparks Devaluation and Inflation Maelstrom The victory of Javier Milei

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Farmington Bank Faces Fed Wrath: Alameda-Backed Financial Institution Ordered to Shutdown

August 21, 2023 0

In a statement released August 17, 2023, Farmington State Bank, with an investment from Sam Bankman-Fried’s Alameda Research, consented to a cease and desist order from the U.S. Federal Reserve. Alameda invested $11.5 million into the bank’s coffers in January 2022. Government seizure documents from January 2023 indicate Bankman-Fried reportedly had $50 million stashed in

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Nobel Laureate Paul Krugman States Argentina Should Adopt the Euro Instead of the US Dollar

August 21, 2023 0

Economics Nobel laureate Paul Krugman recently stated that Argentina might be better off adopting the euro instead of the U.S. dollar amidst the devaluation of the Argentine peso. Krugman argued that Argentina has almost twice as much trade with the European Union as it does with the U.S., stating that the euro would suit them […]

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Volatility in Chinese Yuan, Russian Ruble Makes De-Dollarization Harder, Market Analyst Says

August 21, 2023 0

A market analyst says that the recent decline and volatility in the Chinese yuan, the Russian ruble, and to a lesser extent the Argentine peso, “will only add further challenges to the idea of de-dollarization.” He stressed that countries are “unable to agree on a clear path to de-dollarization apart from increasing trade in their […]

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BRICS Bank Could Issue Digital Currency for the Economic Bloc, Analyst Says

August 21, 2023 0

A Trace Finance analyst has suggested that the BRICS nations could launch a single digital currency issued and regulated by the New Development Bank, also known as the BRICS Bank. He stressed that the U.S. is facing the biggest crisis in history. Many expect a common BRICS currency that would challenge the dominance of the […]