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During the last few weeks bitcoin’s cost of production has been higher than the leading crypto asset’s spot market value and in turn, this has put massive pressure on bitcoin miners. On Nov. 30, 2022, statistics show if miners paying for electricity pay roughly $0.12 per kilowatt hour (kWh), only three application-specific integrated circuit (ASIC) mining rigs are profitable. At a rate of $0.07 per kWh, profits begin to increase and data shows 16 different ASIC bitcoin mining devices are profitable with electrical costs at that rate. At $0.12 per Kilowatt Hour, Only 3 ASIC Miners Gather Profit Using Today’s Bitcoin Exchange Rate Bitcoin miners are feeling the pain of an extremely high difficulty rating and much lower bitcoin prices than a year ago today. Data from macromicro.me indicates that the cost of bitcoin production ($19,356 per unit) is a lot higher than the spot market value ($16,877 per unit). This means bitcoin miners need to obtain the cheapest electricity they can find

On Wednesday, Nov. 30, 2022, a blog post published by the European Central Bank (ECB) discusses bitcoin and the authors Ulrich Bindseil and Jürgen Schaaf seem to believe its “bitcoin’s last stand.” The ECB authors further say that while bitcoin’s price has consolidated and stabilized, the central bank officials remarked that “it is an artificially induced last gasp before the road to irrelevance.” Members of Europe’s Central Bank Believe They Predicted Bitcoin Would Be Heading Toward ‘Irrelevance’ Before FTX Went Bust Two members of Europe’s central bank, Ulrich Bindseil, the director general of the ECB’s market infrastructure and payments division, and Jürgen Schaaf, an advisor to the ECB’s payments sector, published a blog post about the leading crypto asset bitcoin ( BTC ). The ECB blog post is called “ Bitcoin’s Last Stand ,” and the writers claim the crypto asset is becoming irrelevant. Bindseil and Schaaf explain that BTC ’s price has dropped 76% lower than the $69K all-time

Litecoin has been a notable mover on Nov. 30, as the token edged closer to a recent six month high. Following yesterday’s gains, cryptocurrency prices remained in the green on Wednesday, with the global market capitalization up 2.07% as of writing this. Near protocol also surged today, as prices rebounded from recent lows. Litecoin Litecoin ( LTC ) moved closer to a six month high on Wednesday, as the token rose for a second straight session. LTC /USD rallied to an intraday high of $79.73 earlier in today’s session, less than 24-hours after trading at a low of $75.21. The move saw LTC climb to its highest point since last Wednesday, when the token hit a high of $83.43. This was the strongest point litecoin was trading at since May 10, and comes as the relative strength index (RSI) rebounded from a recent floor. As of writing this, the index is currently tracking at 65.48, which is above a support point of 61.45. Earlier gains have somewhat eased, with LTC now trading at $78.0

On Nov. 29, 2022, the crypto supporter and reporter, Tiffany Fong, published an interview with the former FTX CEO Sam Bankman-Fried (SBF) that was recorded 13 days before the interview was released. During the interview, SBF discussed who he thinks may have hacked FTX and he further denied he had a backdoor installed to funnel funds between FTX and Alameda Research. “I don’t even know how to code,” SBF stressed to Fong during the conversation. Additionally, the New York Times claims to have obtained a slew of emails and text messages between FTX’s legal counsel, other top executives, and SBF while the exchange was in the midst of collapse. SBF Claims Backdoor Accusations Are ‘Definitely Not True,’ Probably a ‘Poorly Labeled Accounting Thing’ Roughly two weeks ago, the co-founder and former CEO of FTX, Sam Bankman-Fried (SBF), decided to do a phone interview with Tiffany Fong . The telephone interview ( here and here ) was revealed by Fong a few days before she published it, and on

Bitcoin moved to $17,000 on Wednesday, as markets continued to digest the U.S. consumer confidence report. Confidence amongst consumers fell to its lowest level since July, despite inflation easing in the world’s largest economy. Ethereum remained higher, edging closer to $1,300. Bitcoin Bitcoin ( BTC ) briefly rose above $17,000 in today’s session, as traders reacted to the latest U.S. consumer confidence report. Despite falling to a six-month low, the decline in confidence was less than expected, which was a relatively positive sign for markets. Following a low of $16,366.66, BTC /USD rose to an intraday peak of $17,021.67 earlier in the day. However, following the breakout of $17,000, which has also been a long-term resistance level, some earlier bulls moved to secure gains, exiting their positions in the process. As of writing, BTC is trading at $16,832.07, with the 14-day relative strength index (RSI) tracking at 45.72, below a ceiling of 46.00. Should price strength cont

According to Lamido Yuguda, the director general of the Nigerian Securities and Exchange Commission, the regulator does not plan on including cryptocurrencies in its digital asset agenda. Yuguda reportedly said the commission will only change its stance on cryptos when Nigerian regulators agree on the standards to protect digital asset investors. Commission to Promote ‘Sensible Digital Assets’ The Nigerian Securities and Exchange Commission (NSEC) said it will only include cryptocurrencies in its digital assets agenda when regulators finally agree on the standards to protect investors. The commission added that cryptocurrencies are currently excluded because the exchange platforms where such digital assets are traded are operating outside of the Nigerian banking system. According to a Bloomberg report , the NSEC is keen on promoting what the institution’s director general Lamido Yuguda calls “sensible digital assets.” Yuguda explained: The commission is in the business of protect

PRESS RELEASE. Doha, Qatar: For the next couple of weeks, over a billion people are glued to the TV every day watching players of their favorite team working brilliantly together to win the ultimate prize. What’s really different this time around is how much crypto plays a role in football, with team fan tokens and NFT collections released by football stars like Christiano Ronaldo as prominent examples. And now, leading communities in crypto are joining football fever and even using it as an opportunity to bring crypto to the masses. With this World Cup, billions will learn about the Web3 ways of working together and winning big thanks to the Binance Football Fever 2022 campaign that allows anyone to get their football fever on while having a chance to win part of the $1,000,000 in prizes. The DeXe DAO community, being a close partner of Binance and running a number of joint activities with them, has also joined Binance’s Football Fever in true DAO fashion — by proposing and pas

Cryptocurrency exchange Bitfront has announced its intention to cease operations in the coming months, citing challenges facing the industry. The U.S. trading platform, backed by Japan’s social media giant Line, indicated the decision is unrelated to the collapse of FTX. Line-Supported Digital Asset Exchange Bitfront Suspends New Sign-ups Bitfront, a crypto exchange operating in the United States, has suspended new sign-ups and credit card payments while planning to cease operations in a few months’ time. The move comes despite efforts to overcome the current challenges in the “rapidly evolving” crypto industry, the company announced, quoted by Reuters and Bloomberg. In the statement published on its website, the exchange explained it has “regretfully determined that we need to shut down Bitfront in order to continue growing the Line blockchain ecosystem and Link token economy.” The U.S.-based platform, which launched in 2020, is backed by the Japanese social media firm Line Corp.

On Tuesday, the world’s largest non-fungible token (NFT) marketplace in terms of overall NFT sales volume, Opensea, announced that BNB blockchain-based NFTs will be supported on the marketplace platform. With BNB blockchain support, Opensea users will be able to purchase and list BNB NFT assets. Opensea Integrates BNB Chain — Marketplace Users Can Now Buy and List BNB-Based NFT Assets This week, Opensea surpassed $33 billion in all-time sales according to statistics recorded by dappradar.com. On Nov. 29, 2022, Opensea revealed that the BNB blockchain will now be supported by the marketplace allowing users to buy and list BNB-based non-fungible token (NFT) assets. Opensea already supports Ethereum, Solana, Klaytn, Arbitrum, Optimism, Avalanche, and Polygon networks. According to Tuesday’s announcement sent to Bitcoin.com News, the “ BNB Chain will be launched on Opensea’s Seaport Protocol in Q4 2022, allowing multiple creator payouts, real-time payouts, collection management

Chainlink raced to a 20-day high on Nov. 29, as the token surged for a second straight day. Cryptocurrency markets were mostly higher in today’s session, following a sluggish start to the week. Dogecoin was another notable gainer on Tuesday, as the meme coin rebounded from yesterday’s losses. Chainlink (LINK) Chainlink (LINK) climbed to its highest point in three weeks on Tuesday, as prices rose for a second straight day. Following a low of $6.67 to start the week, LINK/USD races to an intraday high of $7.43 earlier in today’s session. The move saw LINK continue its recent breakout of a long-term ceiling at $7.15, hitting its highest point since November 20 in the process. Overall, LINK is up by nearly 25% in the last few days, recording gains in all but one of the last nine sessions. Today’s surge comes as the 14-day relative strength index (RSI) moved beyond a resistance point of 55.00, and is currently trading at 56.89. In addition to this, the 10-day (red) moving average is

Non-fungible token (NFT) sales have shown improvement during the last month as 30-day statistics show NFT sales are up 22.37% higher than the month prior. During the last seven days, NFT sales are up 5.13% higher than the week before. Additionally, over the last two days, the floor value of Bored Ape Yacht Club (BAYC) NFTs managed to jump above the floor value of Cryptopunks NFTs by more than four ethereum. NFT Sales Improved in November, Rising 22% Higher Than October’s Sales — BAYC Floor Surpasses Cryptopunks Roughly two weeks ago, Bitcoin.com News reported on the two blue chip NFT collections — Cryptopunks and Bored Ape Yacht Club (BAYC) NFTs. At the time, Cryptopunks NFTs managed to rise above BAYC NFTs in terms of NFT floor values , but during the last two days, Bored Ape floor values have once again grabbed the reins. At the time of writing, the floor value of the cheapest BAYC is 69.88 ether, while the Cryptopunks floor value is 65.94 ether. BAYC’s floor price has managed t

Ethereum rose back above $1,200 on Tuesday, ahead of the upcoming consumer confidence report from the United States. The price comes following a breakout above a key resistance level of $1,180. Bitcoin also climbed higher in today’s session, ending a five-day losing streak. Bitcoin Bitcoin ( BTC ) snapped a five-day losing streak on Tuesday, as prices moved away from a recent point of support. Following a low of $16,054.53 to start the week, BTC /USD surged to an intraday high of $16,522.26 earlier today. This surge saw bitcoin climb from its aforementioned price floor $16,175, which has been in play since earlier in the month of November. Looking at the chart, although prices have surged, it will be a test to see if this momentum can be maintained, due to the relative strength index (RSI) colliding with a ceiling. As of writing, the index is hovering marginally above a ceiling of 41.00, with a current reading of 41.12. Should price strength continue in an upward direction, we

Roberto Campos Neto, president of the Bank of Brazil, explained the role that the Brazilian central bank digital currency (CBDC), the digital real, might play in the future of personal finance. At an event, Neto explained the concept of “open finance,” showing a “super app” that featured PIX (a payments network) functionality, and also integration with other stablecoins already available. Digital Real Might Connect Directly With Cryptocurrencies The proposed Brazilian CBDC, the digital real, is ostensibly growing to have more and more functions. Roberto Campos Neto, president of the Bank of Brazil, showed the concept the bank has for the finished version of the currency. On Nov 25. at an online event , Campos Neto introduced the ideas that the institution has for the currency, under the “open finance” name. This idea includes the integration of the digital real, which is still under development, with traditional and decentralized financial structures and institutions. A “super app,

On Nov. 28, 2022, the crypto lender Blockfi informed the public via a press release that the company has voluntarily petitioned for Chapter 11 bankruptcy protection. Blockfi is now one of many digital currency businesses dealing with significant financial hardships and bankruptcy proceedings in 2022. Blockfi Voluntarily Petitions for Chapter 11 Bankruptcy Protection Blockfi has officially filed for bankruptcy protection according to a press release distributed on Monday morning at 10:17 a.m. (ET). The Chapter 11 bankruptcy filings encompass the crypto lender Blockfi and eight of its affiliates. The crypto firm insists the plan is to “stabilize its business and provide the company with the opportunity to consummate a comprehensive restructuring transaction that maximizes value for all clients and other stakeholders.” Blockfi has cited the FTX collapse as a period when the company took steps to protect Blockfi customers. On Nov. 10, 2022, Bitcoin.com News reported that Blockfi had

It’s been six months since Terra’s algorithmic stablecoin UST (now USTC) depegged from the U.S. dollar and the price has remained depegged from the greenback since May 9, 2022. Currently, the former stablecoin is exchanging hands for $0.02 per unit, but a number of Terra Classic supporters believe there’s a chance USTC can regain its peg. Terra Supporters Want to Repeg the Once-Stable Coin USTC Amid the craziness surrounding the FTX collapse, fans of another stunted crypto project want to get Terra Money’s former stablecoin UST (now USTC) back to the $1 price range. There’s been a lot of discussion about the subject on social media, even though the token terraclassicusd (USTC) is nowhere near the greenback’s face value. That hasn’t stopped Terra Classic supporters from trying to rally support for the now-defunct Terra token. “Let’s repeg USTC,” one individual tweeted , while others have shared pictures of USTC rising to $1 complete with rocketship emojis. In addition to a number

Dogecoin was down by as much as 10% to start the week, as the token retreated from Sunday’s high. The meme coin raced to a three-week high over the weekend, however bulls appeared to have abandoned their positions, opting to secure profits. Xrp, formerly known as ripple, fell for a third straight session on Monday. Dogecoin (DOGE) Dogecoin (DOGE) was 10% lower on Monday, as traders moved to secure profits following recent gains. Following a high of $0.1057 on Sunday, DOGE/USD slipped to an intraday bottom of $0.09302 to start the week. The drop saw the token move closer to a key support point of $0.090, less than 24 hours after hitting a three-week high. As can be seen from the chart, the move comes as the 14-day relative strength index (RSI) failed to break out of a ceiling of 60.00. Currently, the index is tracking at 55.20, with the next visible point of support at the 52.00 mark. Despite the current decline in price, momentum still remains bullish, with the 10-day (red) mov

During the last month, the market capitalization of all the stablecoins in existence dropped by more than 2%, shedding roughly $2.98 billion since the end of October. Statistics show that tether, the largest stablecoin by market valuation, saw its market cap lose more than 5% during the last 30 days. Tether’s market cap slipped from last month’s $69.13 billion to today’s $65.48 billion. Stablecoin Economy Drops Lower, Tether Market Cap Sheds 5% Statistics show that the stablecoin economy’s market valuation has reduced during the last 30 days by roughly 2.02%. On Oct. 31, 2022, the stablecoin economy was valued at $147.03 billion and today, it’s down to $144.05 billion. Furthermore, the market capitalization of all the stablecoins in existence is much lower than it was two months ago, as the market cap dropped by 4.83% from $151.37 billion to today’s $144 billion total. Data indicates that this past month, tether ( USDT ) has seen its market capitalization drop more than 5% lower fr

Bitcoin fell to a six-day low to start the week, as the token moved closer to the $16,000 level. The drop sees prices fall for a fifth straight session, with overall sentiment in the cryptocurrency market turning bearish. Ethereum was once again trading below $1,200, after trading above this point in recent days. Bitcoin Bitcoin ( BTC ) fell for a fifth straight session on Monday, as the token moved closer to a breakout below $16,000. BTC /USD slipped to an intraday low of $16,086.36 to start the week, which comes less than 24 hours after hitting a peak of $16,594.41. As a result of today’s drop, bitcoin moved to its lowest point since last Tuesday, November 22, when price was at a low of $15,613. Looking at the chart, Monday’s sell-off intensified once a breakout on the relative strength index (RSI) occurred. The index, which is currently tracking at 36.89, moved below a recent support point of 38.00, and looks to be heading for a lower floor at 35.50. Should price strength re

PRESS RELEASE. Minimax.Finance integrated the recently launched VERSE DEX to provide the Minimax community with more options for cost-effective swaps on Ethereum network. VERSE pools are also available at the platform. The Minimax team has integrated VERSE DEX into Minimax’s swap section; now Minimax users can enjoy all the DEX benefits, including security and the absence of third-party custodians. This integration has been available at Minimax.Finance since its recent launch on Ethereum. This part of the integration will get extended as the VERSE team launches the DEX on more blockchains. Minimax.Finance Chief Executive Val Hrykyan said, ‘Our goal is to provide the web3 community with a unified interface to make management of web3 portfolio easy and convenient. Therefore, the integration of VERSE DEX is a logical step in this direction.’ About VERSE DEX VERSE DEX is a decentralized exchange (DEX) which uses an automated market maker (AMM) to facilitate trades in a completel

Argentina is preparing to revamp its anti-money laundering and terrorism financing law. It has proposed to include the creation of a registry for virtual asset services providers (VASPs) in the country as part of the new modifications. The changes would prepare the country for the review that the Financial Action Task Force (FATF) is slated to do on the subject next year. Argentina Might Create a Unified VASP Registry The discussion of a proposed revamp of the anti-money laundering and terrorism financing law in Argentina might include the creation of a unified VASP registry. The proposal, which is being made by several institutions in the country, including the Argentine tax authority (AFIP), and also the national securities regulator (CNV), would bring the legislation up to modern standards. This would be the first modification that legislators press on a law that has been untouched for 11 years. The institutions presented the changes to the Deputy chamber of the nation in a meet

A recent survey sponsored by the Nasdaq-listed crypto exchange Coinbase shows that institutional investors increased their allocations during the crypto winter. The firm emphasized that there is “a strong signal of the acceptance of crypto as an asset class” and “the price outlook over the long term remains positive.” Coinbase’s Institutional Investor Survey The Nasdaq-listed cryptocurrency exchange Coinbase published Thursday the findings from a survey it sponsored to understand how decision-makers at U.S. institutions view digital assets. The survey was conducted independently by Institutional Investor Custom Research Lab between Sept. 21 and Oct. 27. A total of 140 institutional investors in the U.S. participated in the survey, representing about $2.6 trillion in assets under management. Coinbase was not involved in sourcing the respondents. Coinbase wrote: Institutional investors increased their allocations during the crypto winter, with many using this as an opportunity to