Crypto News 07/07: Bitcoin miners’ earnings are increasing with news from Ethereum, Ripple, ADA, Binance, Altcoin, Shiden, Bybit, SHIB, IOTA, PolkaCipher, DOGE, HECO
From the Bitcoin network’s daily mining earnings to the Ethereum Death Cross that could happen sometime between mid-July and early August, here are some highlights from the crypto market.
The data shows that Bitcoin (BTC) miners’ revenues skyrocketed after the network experienced its biggest drop in trouble ever. According to figures from Blockchain.com, daily sales have increased by more than 50%.
About half of the BTC network’s hashing power was “lost” when the miners left China, and it is still unknown when they will return.
BTC miner earnings | Source: Blockchain.com
At the same time, miners unaffected by the ban from China have seen dozens of their competitors disappear overnight, and profits have soared as a result.
Daily mining revenue was around $ 20.7 million on Friday, the day before the difficulty adjustment. A day later, sales had skyrocketed to $ 29.3 million, reaching $ 31.9 million as of Tuesday this week.
Monobank introduces Bitcoin card
Monobank, an online bank operating in Ukraine, has announced new products and services that enable users to trade cryptocurrencies and stocks. One of these services involves a bitcoin card.
From the end of July, monobank customers will be able to buy and sell cryptocurrencies with the new bank card, which supports crypto transactions.
The BTC and ETH volumes are moving down every day
Glassnode said on-chain activity for Bitcoin and Ethereum remains relatively calm as the volume in USD moves down.
Accordingly, ETH’s BTC volume is shifted daily, which is currently around $ 236 million (December 2020 equivalent) and $ 160 million (January 2021 equivalent).
On-chain activity remains relatively subdued for #Bitcoin and #Ether as the USD-denominated transfer volume returns to the level from December to January 2020#Bitcoin calculates at ~ $ 236 million / day
diagram https://t.co/qgZwRhRGGv#Ether calculates $ 160M / day in. from $ ETH Transfers
diagram https://t.co/i3GLvOx26a pic.twitter.com/ZS661aKbW2
– Glass node (@glassnode) July 7, 2021
The ETH 50-day moving average and the 200-day moving average show signs of overlap. The Ethereum Death Cross could happen sometime between mid-July and early August.
ETH price chart | Source: TradingView
The 50-day moving average also acts as resistance for ETH, which is currently at $ 2,380.
The daily MACD confirms an uptrend and the daily MFI and RSI have yet to enter the overbought territory at 62 and 56 respectively.
Ripple transferred another large amount of XRP to Jed McCaleb, its founder and first CTO.
– Whale alert (@whale_alert) July 6, 2021
According to the tracking service Whale Alert, he has received over 291 million XRP tokens from the company. Shortly afterwards, he sent about 10 million XRP to a crypto exchange.
According to the research Recently, ADA was the most popular cryptocurrency held by users of the eToro exchange, after ranking third in the second quarter of 2020.
After DOGE was not included in the ranking a year ago, it has now moved up to second place. The remaining three names in the top 5 are Tron, Ether (ETH) and Bitcoin.
Other popular cryptocurrencies with US investors are XLM, Iota’s MIOTA tokens, and Ethereum Classic (ETC).
Wu Blockchain said that in some areas of Sichuan, China, some investors said they received calls from the police immediately after logging into Binance.
However, the police only warned of risks and said they would not solve any problems related to losing trades of investors.
In some parts of Sichuan, China, some investors found that they would receive a phone call from the police immediately after signing up with Binance. However, the police only warned of the risks and said they would not accept the case if they suffered losses. By @WuBlockchain pic.twitter.com/lpJ08OGCvI
– Wu blockchain (@WuBlockchain) July 7, 2021
Binance.US appoints new administrative director
Binance.US has appointed Manuel Alvarez, a former commissioner for the California Department of Financial Protection and Innovation (DFPI), as its new administrative director.
The California Stock Exchange announced that Alvarez will take up his new role on July 22nd.
– Bloomberg (@business) July 7, 2021
Alvarez has been with DFPI since 2019 but resigned last month. Earlier this year it was rumored that he was a candidate for the position of head of the Office of the Comptroller of the Currency (OCC), the state banking regulator that Brian Brooks, CEO of Binance.US, previously held.
Santiment has published statistical data on the developments of the crypto market in relation to the underlying altcoins such as YFI, UMA, MKR, MATIC, ANT and KNC. These altcoins in particular continue to grow despite recent Bitcoin price movements.
YFI, UMA, MKR, MATIC, ANT and KNC have recently attracted the attention of dealers, which also contributes to their growth.
???? #Altcoins have made up for lost time since #BitcoinFlat performance has drawn traders’ attention to other assets for the time being. Our latest finding deals with the accumulation and disposal of whales for $ YFI, $ UMA, $ MKR, $ MATIC, $ ANT, and $ KNC. https://t.co/ZXqMm0qujk pic.twitter.com/DMoiEFobt
– Santiment (@santimentfeed) July 7, 2021
Shiden won the Kusama Network’s third Parachain auction.
According to the notification, Shiden took the place with a total of 137,020 KSM tokens valued at nearly $ 29 million.
Shiden is a smart contract platform for Kusama-based DApps that provides multi-chain support for the Ethereum Virtual Machine and WebAssembly-based contracts. The project also plans to deploy Layer 2 technologies including Plasma and Optimistic on Kusama.
Bybit cryptocurrency exchange is speeding up its KYC process with new requirements set to roll out next week.
In two notification On its website, on July 6th, the crypto exchange updated its KYC process for individuals and companies.
Individuals who wish to withdraw more than 2 BTC (around USD 70,000 at current prices) per day must complete a full KYC verification.
The Shiba Inu (SHIB) token is now the third largest consumer of gas fees on the Ethereum network due to the introduction of ShibaSwap.
SHIB is currently the third largest consumer of gas fees on the Ethereum network | Source: Etherscan
According to the Shiba Inu whitepaper, ShibaSwap is a decentralized ecosystem that is supported by its own decentralized exchange.
The core of ShibaSwap are the three tokens SHIB, LEASH and BONE. Each of these tokens can be staked (BURIED) in order to earn xSHIB, xLEASH or tBONE. Token holders can also provide liquidity (DIGGING) to receive SSLP tokens.
Today the IOTA Foundation announced the first successes in its partnership with Trademark East Africa (TMEA).
The duo aims to build a decentralized digital infrastructure that optimizes trade exports by leveraging IOTA’s distributed technology to gradually remove the paperwork from supply chains.
In a single trade, an African entrepreneur will likely complete 96 documents, all on paper. We look forward to our partnership with the @TradeMarkEastA by December 2022 to improve cross-border trading processes. https://t.co/CzsUWEmS5T #… pic.twitter.com/EiGSeMxfmk
– IOTA news (@iotatokennews) July 6, 2021
According to the announcement, the IOTA Foundation and Trademark East Africa will work together to create a system for East African companies and governments that makes communication with each other and with international partners transparent and secure, instantly and completely.
PolkaCipher (CPHR) will conduct its IDO on July 20th on TrustPad.
PolkaCipher has announced My CHPR-IDO on TrustPad. Details of the whitepaper will be announced later.
CPHR tokens will be available on BSC before heading to Polkadot with a hard cap on sale of $ 153,000, a public sale price of $ 0.017, and an initial market cap, including liquidity, of $ 896,920.
In his recurring transaction report, Alabama Congressman Barry Moore revealed some of his recent crypto purchases, including DOGE.
– Congresstrading.com (@congresstrading) July 6, 2021
On June 13, he bought DOGE for a range of $ 1,001 to $ 15,000. Previously, his colleague, Congressman Mark Green, had also put a lot of faith in DOGE.
Elon Musk teases Dogecoin army
Elon Musk took to Twitter to tease his Dogecoin army with a Harry Potter meme by posting a photo of a giant green chain of candles on a mirror.
– Elon Musk (@elonmusk) July 6, 2021
However, Musk’s market-moving power appears to be waning as its recent attempts to prop up DOGE’s price have been largely unsuccessful.
The Huobi Eco Chain (HECO) cryptocurrency exchange has added a number of new validators to its network to improve stability and decentralization.
Eleven blockchain and decentralized finance (DeFi) projects were selected to work Validation node for the HECO mainnet.
Animoca Brands and CoinMarketCap have become validators together with DeFi projects such as Lightnet, CoinWind, Allnodes, the blockchain company Hashed, the multi-chain wallet Coin98, the trading company Alphanonce, Signum Capital and Legend.
FinCEN appoints first cryptocurrency advisor
The US Treasury Department’s Financial Crimes Enforcement Network (FinCEN) is increasing its focus on cryptocurrencies.
Accordingly, Ms. Michele Korver, who previously worked for the Justice Department, will be FinCEN’s first Chief Digital Currency Advisor.
Michele Korver of the US Department of Justice became FinCEN’s Chief Digital Currency Advisor.
In a report last month, Korver wrote, “As the mainstream adoption of cryptocurrency has increased, so has the percentage of transactions used to cover up crime.” pic.twitter.com/zixdXbzuwD
– Document Bitcoin (@DocumentingBTC) July 6, 2021
FinCEN CEO, …