Crypto Guides, Knowledge & Insights

Are Bitcoin miners only receiving the basic minimum payment as the hash price plunges to record lows

According to the source of market insights:　　“The Bitcoin Hash Price has reached an all-time-low of $66,500 per Exahash. This means that BTC miners are earning the smallest reward relative to hashpower applied in history, and likely puts the industry under extreme income stress.”　　As a result, this shows that throughout the 13-year history of Bitcoin, miners are making the least money. 　　Additionally, this is taking place while the Bitcoin networks mining complexity reaches an all-time high (ATH). Glassnode also said:　　“BTC mining difficulty just reached an ATH of 158,208,051,864,292,013,637,632. Previous ATH of 152,947,196,320,564,012,646,400 was observed on 23 October 2022.”　　A measure of how tough or simple it is to create new Bitcoins, mining complexity is frequently influenced by the quantity of devices connected to the network. 　　　　Because more processing power is needed to generate the same amount of blocks like before, high mining difficulty implies improved network safety.　　Since more than six months ago, 78% of the BTC supply has not moved.　　It appears that some hodlers have persisted in their goal despite the immovable Bitcoin supply nearing ATH. 　　Market researcher Will Clemente noted:　　“A new all-time high 78% of Bitcoin supply has not moved in at least 6 months. Pretty remarkable in the face of

2022-10-25Deep Dive

Reporters Dig Deeper into Crypto Exchange Bithumb’s Mysterious Ownership Story

One of South Koreas largest cryptocurrency exchanges, Bithumb, remains in the news as concerns over the companys ownership structure spread across the country.　　The nation was shocked last month when it came to light that Kang Jong-hyun, the secretive Bithumb majority shareholder, had been covertly dating leading lady Park Min-young. Journalists also learned that Kangs associates had purchased Parks talent agency and had appointed Parks elder sister to the position of director at a publicly traded company that he also owned.　　According to sources in the cryptocurrency industry, Kang is the “secret chairman” of Bithumb, and earlier this month, prosecutors looking into these claims raided three other businesses he owns. Among them is Vidente, a manufacturer of video equipment that apparently holds a 34% stake in Bithumb.Bithumb 7-day trading volumes. (Source: CoinGecko)　　　　　　But as the week begins, the exchange - and Kang in particular - might experience some rough patches. This evening, an episode on Kang will appear on MBCs “PDs Notebook,” one of the top investigative journalism-based news programs in the country, according to Newsen.　　Additional discoveries were promised by the shows creators, who also released some of the investigations findings. They claimed that Kangs younger sister, who is identified as Videntes top

2022-10-24Deep Dive

Bankruptcy Court Approves FTX Purchase Agreement for Voyager Assets

A U.S. bankruptcy court has given the go-ahead for major crypto exchange FTX to acquire the assets of struggling crypto platform Voyager Digital.　　The platform said that the Southern District of New York U.S. Bankruptcy Court has authorized Voyager Digitals “entry into the asset purchase agreement between FTX US and Voyager.”　　According to the statement, “FTX USs bid, valued at approximately $1.422 billion, is composed of I the fair market value of all Voyager cryptocurrency at a future date to be determined prior to closing of the sale, which at current market prices as of September 26th is estimated to be $1.311 billion, plus (ii) additional consideration which is estimated to provide approximately $111 million of incremental value to creditors.”　　The business stated that Three Arrows Capitals claims against Voyager “will remain with the bankruptcy estate and any recovery on account of the 3AC claims will be available for further distribution to Voyager creditors.”　　Following the clearance, Voyager Digital will conduct a customer vote to determine the overall strategy for carrying out the sale to FTX US.　　The message states that November 29 is the deadline for voting on the Plan. All creditors eligible to vote on the plan, including customers, will get solicitation packets

2022-10-24Deep Dive

The UK government amends the finance regulation bill with a new cryptocurrency provision.

In the revisions paper, Financial Services Minister Andrew Griffith said, “to clarify that the powers relating to financial promotion and regulated activities can be relied on to regulate crypto assets and activities relating to crypto assets. Cryptoasset is also defined, with a power to amend the definition.”　　The changes will provide the UK government with a more comprehensive legal regime for cryptocurrencies if indeed the bill is approved. The measure will give the Financial Conduct Authority (FCA) and HM Treasury additional control over cryptocurrency regulation in specific.　　By November 3, no more progress will be made on the bill. However, there may ultimately be some adjustments to the program due to the commotion around Prime Minister Liz Truss resignation, which she submitted on Thursday.　　The FCA now possesses the majority of the UKs regulatory authority over cryptocurrencies because the UK Government has given the FCA the authority to control advertising and marketing of crypto assets under its current rules.　　The UK government expressed concern in July 2020 about the absence of regulation surrounding cryptocurrencies and the investment derivatives they are affiliated with, which frequently denies shareholders in the crypto business the very same safeguards as regular investors, such as legal repercussions and reimbursement.　　And as

2022-10-24Deep Dive

PancakeSwap Suggests Using Aptos Blockchain for Mainnet Deployment

After careful consideration, they are suggesting to launch on Aptos. At the moment, PancakeSwap is built on the BNB network with a trading volume of around $47 million. Nonetheless, the blockchains creator wishes to migrate to Aptos in an attempt to try something new. 　　The Aptos chain, which PancakeSwap opted to operate on, is a next-generation Layer 1 with low transaction fees, large transaction throughput, and quick transaction speeds, according to the proposal. The Aptos team has also contributed to numerous crypto products, particularly those in the web3 sector.　　　　Additionally, Aptos boasts a “vibrant developer ecosystem” with a handful of protocols under development. Moreover, the programmers highlighted that PancakeSwap had established a solid relationship with the Aptos team and that a big chunk of its network is ideal for PancakeSwap collaborations and products.　　If the community approves the plan, PancakeSwap will launch on Aptos by Q4 2022 with four key features—swaps, farms, pools, and first farm offerings. This change will be implemented as soon as possible so that PancakeSwap can position itself as the top DEX on Aptos, as the authors specified in the proposal. 　　The PancakeSwap native token, $CAKE, will also be naturally accessible on the Aptos blockchain, marking the very

2022-10-24Deep Dive

Bitcoin's shifting correlations, BAC strategists signals that may regain momentum

Alkesh Shah and Andrew Moss, digital strategists for the BoA, noted that the connection between bitcoin and gold has increased from almost zero in mid-August to about 0.50 over the course of 40 days. The correlations between both the Ss growth is about to pick up. 　　The experts added that because of Bitcoins rapidly rising connection with XAU and going backwards positive correlation with SPX/QQQ and the ongoing economic unpredictability, investors may view it as a comparably safe harbour.　　More Bitcoin Solutions　　There have recently been rumours of several acquisition talks taking place at Bitcoin Group. It was claimed that a number of possible German corporations specialized in deposit-taking or lending institutions had expressed interest in purchasing the business.　　German-based Bitcoin Group is a blockchain private equity business. The purchase, sale, and administration of investments in various enterprises are the primary interests of the corporation. They also take over the strategic administration, control, and coordination of these companies. These acquisitions are among the steps that need to be performed, according to several investors in the blockchain industry, for bitcoin to once again be viable. 　　In accordance with a research by CoinGecko, despite having a challenging third quarter, Bitcoin still continued to outperform conventional

2022-10-24Deep Dive

CBN set to review the use of eNaira in Nigeria one year after its creation

By: Damian Okonkwo 　　The Central Bank of Nigeria (CBN) has revealed its plans to review the use of eNaira in Nigeria to mark the anniversary of its creation.　　The eNaira was officially launched by President Muhammad Buhari on 25th October 2021. Hence, this weeks Tuesday will mark the anniversary of its launch in the country.　　To mark the forthcoming anniversary this Tuesday, the CBN Director of Corporate Communications - Mr. Osita Nwanisobi revealed in its pre-event preparations statement titled “CBN marks the first anniversary of eNaira” that the body will necessarily access the progress made so far, since the adoption of the eNaira and next explore more viable solutions to further promote the use of the eNaira in the country.　　To further mark the forthcoming anniversary, the CBN revealed that it would hold a one-day workshop on the same day at Lagos which will address the theme: “Leveraging innovation for inclusive growth and development: The eNaira advantages”.　　This workshop is therefore designed to expose to the public the general advantages of using eNaira in Nigeria which has put the country in the global spotlight of developed economies and had attracted many researchers and investors into the country who are now trying to explore the

2022-10-24Deep Dive

New NFT Marketplace Blur Is Courting Professional JPEG Traders With an Airdrop and No Trading Fees

With no trading fees and an airdrop of its native token to JPEG collectors who have continued to trade despite the bad market, a popular new non-fungible token (NFT) marketplace has entered the market.　　With over $14 million in funding from venture capital juggernaut Paradigm, NFT-native investment fund 6529, digital art collector Cozomo Medici, and others, Blur, an Ethereum-based platform, debuted a beta version on Wednesday.　　The platform will soon airdrop its BLUR token to everyone who has traded Ethereum-based NFTs in the previous six months. These features include “floor sweeping” across several marketplaces, reveal “sniping,” and portfolio analytics tools.　　Users who want to take advantage of the airdrop must list one of their NFTs on the exchange, which gives them access to “care packages” that they may later exchange for tokens.　　When the companys token and protocol governance is introduced in January, care packages will be able to be opened using BLUR tokens, according to a statement from the business. This is just the beginning of our efforts to turn Blur into a resource that the entire NFT community can use and profit from.　　The marketplace has devised a rewards program that encourages users to pay royalties in exchange for more BLUR tokens, even

2022-10-22Deep Dive

Twitter Expanding Tweet Tiles Trial Into NFTs

The social media behemoth Twitter is extending the Tweet Tiles trial to non-fungible tokens. Tweet Tiles were previously tested with prominent media publications like The New York Times, The Wall Street Journal, and The Guardian (NFTs). For the capability that enables tweets to display an interactive, customisable widget, a number of NFT markets have been chosen.　　For the pilot, the marketplaces on OpenSea, Rarible, Magic Eden, Dapper Labs, and GuardianLinks Jump.trade have been chosen. The featured partners will thus be able to show vibrant NFTs inside tweets for the first time. GuardianLink, a developer of blockchain and NFT solutions, said in a statement that the format enables a larger image of the NFT to be presented alongside metadata like the title and originator.　　NFT collectors would have a new opportunity to share their digital collectibles if the pilot were to be successful and made available to all Twitter users, the business stated.　　According to GuardianLink, Twitter decided to expand the Tweet Tiles test program to NFT marketplaces after introducing NFT avatars for users who connect their web wallet to confirm ownership.　　As “the ability to embed NFTs, replete with important information and a direct marketplace link, will promote sales and support discovery of new

2022-10-22Deep Dive

Lamborghini To Release Special Limited NFT With World Tour Theme

Three based NFTs and one uncommon NFT are among the four restricted NFTs. There are only 1,963 basic NFTs and 63 unusual design NFTs in existence. Each basic NFT will cost $196.30, while each NFT with an unusual design will cost $1,963. The The Epic Road Trip collection Lamborghini NFT series debuted in August 2022 and will continue through March 2023. 　　Each NFT will be accessible for just 24 hours starting on Monday, October 24 at 4 PM CET through the third NFT series, with the subject “World Tour.” Automobili Lamborghinis commemoration of its illustrious journey since its founding in 1963 is symbolized by the theme “World Tour.”　　Customers are taken on a breathtaking tour of New York City, Japan, Dubai, and their renowned Italian Offices by the theme. Even though the NFT library is small, it nevertheless has some excellent utilities. Customers will be given an NFT token that unlocks a piece of the ultimate limited silver puzzle NFT if they just acquire the base NFTs.　　　　A special NFT token, exposing a portion of the final limited gold puzzle NFT, will be awarded to those who collect the entire set of NFTs, including the special ones. 　　　　If the user accumulates NFTs

2022-10-21Deep Dive

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