Bitcoin SV, Bitcoin Cash Halvings Spell Doom For The Miners

Mining is supposed to be a lucrative activity, earning cryptocurrency by running specialist machines continuously. But for Bitcoin SV (BSV) and Bitcoin Cash (BCH), this simple process is proving to be far from profitable. Miners Absorb Low Fees, Non-Lucrative Block Rewards Miners for the two blockchains, which split off from Bitcoin (BTC) in a rather contentious manner, are working altruistically to support the chain. Additionally, both chains boast of much cheaper transactions, meaning very low additional fees for miners. BCash & SV miners have made

461 Crypto Wallets Hold Over 40% of ETH, ADA, LTC, and USDT

When it comes to “whales”, the biggest boast is owning vast stashes of Bitcoin (BTC). But statistics show that other crypto coins may be more weighed down by wallets with a big concentration of wealth. Whales May Affect Altcoins More than BTC Counting crypto addresses that hold more than 1% of the coin’s supply, BTC is actually among the most democratic cryptocurrencies. Talking about whales and ownership by concentration of an asset Addresses with more than 1%:$BTC 39 addrss owns 11.1%$ETH 154 addrss owns 40% $BCH 105 addrss owns 28%$LTC…

Bitcoin Futures Volumes Explode After Price Swing

The Bitcoin (BTC) futures market reawakened in early 2020, following more active price action on the spot markets. Across the board, leading futures trading platforms saw significant growth. Bitcoin Futures Volumes and Open Interest Peak as Prices Move Bitcoin futures bet on the price direction, and open interest as well as trades increased with the promise of higher volatility. Serious bitcoin futures volumes yesterday – $20bln+ on our radar (not an exhaustive count) pic.twitter.com/6kCSFRq6cy — skew (@skewdotcom) January 9, 2020 Once again, crypto-to-crypto exchanges held the lead when it comes…

Austria: Crypto Firms Face €200K Fine Under New AML Directive

Crypto businesses in Austria can be fined up to 200,000 EUR (above $221,000) starting from tomorrow, if they do not operate under the country’s new licensing requirements. Austria’s FMA Calls Crypto Firms to be Counted Austria, one of the more liberal countries when it comes to crypto trading, will require all operators within the country to register with the Financial Markets Authority (FMA). License applications must prove the business has sufficient liquidity, resources and performs due diligence, or face the hefty penalty fine. The Austrian FMA has enforced the rules…

Why Tesla Flipping Bitcoin Market Cap is Not Happening Anytime Soon

Tesla’s market value has just eclipsed that of General Motors and Ford combined but it is still a long way off beating Bitcoin. Tesla Teases $90 Billion Market Cap For the first time, the stock market value of Silicon Valley electric car manufacturer, Tesla, has surpassed the combined capitalizations of its two rivals. Company stock jumped almost 5% on Wednesday, closing at a record $492.14 per share and lifting its market cap to almost $89 billion according to Reuters. This is larger than the sum of General Motors at almost…

Bitcoin IRA Could Face Sanctions as Lawsuit Intensifies

Custodian Kingdom Trust recently turned to a federal judge to call for sanctions against Bitcoin IRA after its lawyers filed the same court action in several different jurisdictions. Trust Kingdom, Bitcoin IRA Fight Heats Up Despite the fact that the cryptocurrency space is only 11 years old, there have already been several grudges that lasted for a long time, now. One of the best-known examples these days is the feud between the custodian Kingdom Trust Co., and a trading platform known as Bitcoin IRA. According to recent news, Kingdom Trust…

5 Reasons Why Bitcoin’s Correlation to SoV’s is Incredibly Bullish

Recent events have undoubtedly solidified the store of value sentiment for bitcoin. Its price correlation with other safe havens such as gold can be quantified and that is extremely bullish for BTC. Crypto asset venture capitalist Andrew Kang has been delving deeper into why bitcoin’s correlation to other stores of value is a good thing. Bitcoin has never shown much correlation to gold or other SOVs. That is, until now. This is incredibly bullish for BTC. Bitcoin has never shown much correlation to gold or other SOVs. That is, until…

Dead Crypto Projects Declined in 2019, Are Altcoins Reviving?

The past two years have been brutal for the majority of altcoins to say the least. One statistic has been positive however, and that is fewer crypto projects ‘died’ in 2019 than in 2018. 2019 Not as Bad For Altcoins Bitcoin was the clear king of the crop in terms of performance during 2019. Only a handful of altcoins such as Binance Coin, Tezos, Chainlink and HT managed to surpass it in terms of gains. New research by LongHash has revealed that as bad as last year was, 20% fewer…