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  • BTC hash rate slumps amid seasonal miner migration in China

    BTC hash rate slumps amid seasonal miner migration in China

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    Mining data aggregators attribute a slump in Bitcoin’s hash rate to the end of the wet season in Sichuan, resulting in many miners migrating to other jurisdictions. On Oct. 26, Thomas Heller of Bitcoin (BTC) mining blog Hashr8 reported that roughly 22 exahashes per second (EH/s) of mining power had left the Bitcoin network, coinciding with the end of the season the previous day (based on weather forecasts). Kevin Zhang of mining-focused Digital Currency Group subsidiary…
  • Exit scams and regulations disrupt global darknet markets

    Exit scams and regulations disrupt global darknet markets

    News
    A report published by blockchain forensics firm CipherTrace has detailed significant disruptions to the clandestine darknet marketplace sector following a spate of exit scams during recent months.  Despite opportunities for new marketplaces to capture the users of the now-defunct platforms, CipherTrace notes the absence of a single platform dominating Western volume. It estimates that the Russian-focussed Hydra market is now the largest worldwide. Hydra is estimated to have generated more than $1.2 billion in revenue between…
  • Alibaba’s Jack Ma praises the disruptive nature of digital currencies

    Alibaba’s Jack Ma praises the disruptive nature of digital currencies

    News
    Jack Ma, the now-retired founder of Alibaba Group, recently spoke to a crowd of bankers and regulators at the Bund Summit in Shanghai about the role digital currencies will likely play in the future global financial system: “Digital currency could create value and we should think about how to establish a new type of financial system through digital currency.” He opined that the current financial system governed by Basel Accords is too conservative and does not fit…
  • Price analysis 10/26: BTC, ETH, XRP, BCH, LINK, BNB, DOT, LTC, BSV, ADA

    Price analysis 10/26: BTC, ETH, XRP, BCH, LINK, BNB, DOT, LTC, BSV, ADA

    News
    Morgan Creek Digital co-founder Anthony Pompliano highlighted data from Santiment, which showed that the 30-day rolling correlation between Bitcoin (BTC) and the S&P 500 is 0. Pomp stressed that the lack of correlation shows that Bitcoin is a store of value.  Along with that, Bitcoin has also outperformed most traditional asset classes such as gold, the S&P 500, crude oil, and the U.S. dollar since the sector wide crash that took place in March when coronavirus…
  • British fintech firm opening physical crypto bank branches in India

    British fintech firm opening physical crypto bank branches in India

    News
    According to an Oct. 26 announcement from Cashaa, the fintech firm will be partnering with India's United Multistate Credit Cooperative Society to build a crypto-friendly financial institution called UNICAS. This new venture will reportedly include 34 “physical branches and operations” in northern India, including the cities of Delhi and Gujarat, and the state of Rajasthan. However, the fintech firm stated that it planned to expand to 100 physical branches “where users can access crypto products” by…
  • Anheuser-Busch considers integrating blockchain further into its beer production line

    Anheuser-Busch considers integrating blockchain further into its beer production line

    News
    Anheuser-Busch InBev, the parent entity of Budweiser, Corona and many other beer brands, recently began to pilot a platform which lets end-customers track their malt beverages on the blockchain. This is not the first instance of the company's blockchain interest. They have previously unveiled a number of blockchain initiatives, including a vending machine ID verification system and document management protocols based on the technology.  “For the first time in our European operations, this project will create a fully…
  • The number of Bitcoin whales hit an all-time high during the latest bull run

    The number of Bitcoin whales hit an all-time high during the latest bull run

    News
    The number of Bitcoin (BTC) whales reached a new all-time high amid last week's price ascension. On October 20, there were 2,178 Bitcoin addresses that held at least 1,000 BTC. By October 25, this number increased to 2,231. At current prices, 1,000 BTC translates to approximately $13 million. Source: Glassnode.Based on this data, we can surmise that the whales control at least 2.23 million Bitcoin — a significant figure equivalent to 12% of the current supply. Source:…
  • McAfee continues to promote cryptocurrencies from his Spanish jail cell

    McAfee continues to promote cryptocurrencies from his Spanish jail cell

    News
    John McAfee, an eccentric millionaire, crypto enthusiast, and anti-virus expert, was recently detained in Spain on charges of U.S. tax evasion. He also faces charges arising from a series of questionable crypto promotions, from which he allegedly profited millions of dollars. Though he is currently in a Spanish prison, it did not stop him from sharing a few of his thoughts on recent developments in the crypto industry.  With regard to PayPal's recent announcement, McAfee said “PayPal's acceptance of cryptocurrency…
  • Imploding Trump Pelosi COVID-19 deal leads to 3% Bitcoin price drop

    Imploding Trump Pelosi COVID-19 deal leads to 3% Bitcoin price drop

    News
    The price of Bitcoin (BTC) dropped 3% in less than three hours as the U.S. stock market plummeted. Following the pullback, most traders are neutral or slightly bearish on the short-term trend of BTC. Traders and on-chain analysts are now pinpointing $12,500 and $11,973 as the two levels to watch for the continuation of the Bitcoin rally. BTC/USD. Source: TradingView.comWhy $12.5K and $11.9K are crucial for the current Bitcoin rally The Bitcoin price dropped sharply on…
  • Whale alert — crypto user moves $1.1B in Bitcoin

    Whale alert — crypto user moves $1.1B in Bitcoin

    News
    With Bitcoin's price continuing to hold close to $13,000, one crypto wallet has moved more than $1 billion of the digital asset. According to on-chain data, a Bitcoin (BTC) wallet holder moved more than 88,857 BTC — worth roughly $1.15 billion — for a fee of only 0.00027847 BTC, or $3.58 at time of publication. The coins were confirmed in block 654,364 on Oct. 26.  Data from analytics platform CrystalBlockchain appears to show that the user sent…