Bitcoin miners are shutting down Chinese operations after Vice Premier’s commentsThe global crypto market cap is $1.56 trillion with a 24-hour volume of $218.17 billion. The price of Bitcoin is $37,204.53 and the BTC dominance is at 44.6%.
by Shaurya Malwa Chinese Bitcoin miners are scrambling to shift or shut operations after the latest round of ‘crypto FUD’ initiated by the government, a report on news outlet Reuters said today. Ad 📈 Earn 8% APY on Bitcoin & 9 more crypto assets and 12% on Fiat & Stablecoins. Compounding interest, paid out daily. More news ⏬German bank that went nearly bankrupt in 2019 says Bitcoin is ‘wishful thinking’Last week’s crypto market meltdown has proved yet again that “the value of Bitcoin is entirely based on wishful thinking,” according to a research note recently published by Deutsche Bank analysts. DeFi tool ‘Bogged Finance’ sees $3 million hack, prices plunge 98%A smart contract bug saw Binance Smart Chain-based ‘Bogged Finance’ get drained of $3 million over the weekend, data from multiple sources show. Goldman Sachs studies crypto as an asset class—a year after stating the oppositeMajor American investment bank Goldman Sachs has seemingly recognized that cryptocurrencies are an emerging new asset class after all—despite stating otherwise just a year ago, according to its recent report. Search query ‘Should I sell my Bitcoin’ skyrockets on Google TrendsCryptocurrency-related search queries have surged in popularity to a new all-time over the past week—but not for positive reasons, according to Google. JPMorgan says Bitcoin’s true value is $35,000 amid price crashJPMorgan research analysts have said that institutional investors are swapping Bitcoin for gold for the first time in six months. Europe and U.S. may soon take the lead in Bitcoin mining, says major Chinese poolJiang Zhuoer, the operator of major Chinese mining pool Lebit Mining, argued that the latest crackdown on crypto in the country would likely lead to miners relocating their activity to Europe and the United States, as pointed out by journalist Colin Wu. Factors with the greatest impact on the crypto market growthThe cryptocurrency market is experiencing incredible growth in the past year and a half, rivaled only by the ICO craze of 2017. Ex-Ripple exec Jed McCaleb dumped over $310 million in XRP this monthJed McCaleb, former CTO and co-founder of payment network Ripple (XRP) and current CEO of Stellar (XLM), has sold roughly 275 million XRP since early May as part of his daily “dumping.” The great XRP dump According to blockchain explorer XRPScan, McCaleb received just over 442 million XRP from Ripple on May 2. Whale holding $15 billion in Dogecoin bought 420.69 DOGE yesterdayWhoever holds the biggest Dogecoin bag seems to share the memecoin’s sense of humor. Control your wealthAd: A trusted and accessible wealth management ecosystem powered by blockchain technology, SwissBorg puts your wealth back in your hands. 🔥 Trending Sectors
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