BTCNews

On Wednesday, Bitcoin’s mining difficulty jumped 9.26% higher, recording the second highest difficulty rise in 2022. The latest rise is Bitcoin’s third difficulty increase since August 4, 2022, and it’s now 11.63% harder to find bitcoin block reward. Bitcoin Difficulty Jumps 9.26% — Metric Prints the Second Largest Rise This Year Bitcoin ( BTC ) has experienced the third difficulty increase this month as the difficulty increased by 9.26% on August 31. The difficulty change took place at block height 751,968, and the 9.26% jump is the second biggest this year. The largest rise in 2022 took place 223 days ago on January 20, 2022, at block height 719,712. Currently, the difficulty is 30.98 trillion , which is only 0.27 below the network difficulty’s all-time high (ATH) at 31.25 trillion on May 10, 2022. With bitcoin’s lower USD value and a 9.26% difficulty increase, miners have been dealt a blow. In fact, the last three difficulty increases have made it 11.63% harder to find a bitcoi...

LEO rose to a six-week high on Wednesday, as prices rallied for a fifth consecutive session. The move came as the token raced past a key resistance level, on its way to today’s peak. Near protocol was another notable gainer, climbing for a third straight day. UNUS SED LEO (LEO) Unus Sed Leo (LEO) was one of the big movers in today’s session, as the token rose for a fifth consecutive day. Following a low of $5.33 on Tuesday, the token raced to an intraday peak of $5.68 earlier in the day. The move saw LEO/USD climb past its resistance point at $5.40, on its way to its highest point since July 10. As seen from the chart, today’s surge took LEO close to another price ceiling at the $5.70 level, however, bullish momentum faded as the session matured. Currently, the LEO is trading at $5.64, which is marginally below earlier highs, and comes as the relative strength index (RSI) approaches its own obstacle. The index is tracking at 65.10 as of writing, which is close to a ceiling of 6...

Russian Prime Minister Mikhail Mishustin has praised digital assets as a payment instrument that could strengthen Russia’s financial independence. The top government official also called for increasing the use of the ruble for international settlements. Head of Russian Government Sees Digital Assets as Tool Ensuring ‘Uninterrupted Payments’ Digital assets can become an alternative to traditional settlements and facilitate payments for imports and exports, the prime minister of Russia has recently remarked. Quoted by RBC Crypto news outlet, Mikhail Mishustin made the comment during a “strategic session on the development of the domestic financial system.” In his statement, which was streamed online, the head of the executive power in Moscow insisted that the Russian Federation needs to intensively develop innovative areas, including the introduction of digital assets. He elaborated: This is a safe alternative for all parties, which is able to guarantee uninterrupted payments for the...

Ethereum was hovering close to $1,600 during Wednesday’s session, as market volatility eased today. Following a turbulent week of trading, crypto markets mostly consolidated on hump-day, with the global market capitalization down 0.23% as of writing. Bitcoin’s price was mostly unchanged, as it remained above $20,000. Bitcoin Cryptocurrency markets consolidated on Wednesday, with bitcoin ( BTC ) largely unchanged from yesterday’s session. Following a high of $20,542.64 on Tuesday, BTC /USD was marginally lower, with today’s peak standing at $20,425.97. The token is now trading in between a support point at $19,500 and a resistance level of $20,600, with sentiment slightly shifting towards bullish territory. This comes as the 14-day relative strength index (RSI) broke out of a resistance point of 37.90, and is now tracking at 38.60. Looking at the chart, it appears as if the index is headed towards the 42.00 mark, which has historically acted as a ceiling. Should this target be h...

The number of known cryptocurrencies surged from 6,000 in July 2021 to 10,400 in February 2022 before dropping to around 10,000 by August. Only five cryptocurrencies currently account for over 75% of the entire crypto industry market capitalization. A Thousand Cryptocurrencies Added Every Month According to the data from Augusta Free Press, the number of known cryptocurrencies went up from 6,000 in July 2021 to around 10,400 by February 2022. However, this number had dropped to around 10,000 by August 2022, the data revealed. Before surging past the 10,000 mark, the number of cryptocurrencies — according to a study by Statista and Investing.com — had grown from 60 in 2013 to over 4,500 by 2020. As shown by the data, in the period between 2021 and 2022, the number of cryptocurrencies has doubled. Remarking on this phenomenal growth in the number of cryptocurrencies added, the Augusta Free Press report said: In the first half of 2021 only, 1,500 new digital coins entered the market...

PRESS RELEASE. London, The UK, August 31st – Reef, a layer 1 Substrate based blockchain for DeFi, NFTs, and gaming, announced today its highly anticipated Reef Card is now available for people in the United Kingdom and Europe. Reef has been working with Baanx, an experienced partner for revolutionary web3 financial solutions, to create and produce Reef Card. Reef Card, powered by Baanx, is part of the MasterCard crypto debit line. Due to covid, and material production delays, the card was put on hold until this year. Now it’s officially available to everyone in the UK and EEA. Denko Mancheski, CEO of Reef said, “We feel good about the future of Reef, and over the past year, we’ve been working hard with Baanx to get Reef Card out. We’re excited to have it available now and allow hodlers the opportunity to spend their cryptocurrencies in the physical world.” Crypto debit cards have become a hot ticket in the physical world as they add another layer of utility to tokens and the crypt...

The United States Federal Bureau of Investigation (FBI) has issued a public service announcement about exploits attackers have recently used to steal cryptocurrency from investors that put money on decentralized finance (defi) platforms. The organization also advised crypto investors to do their own research and verify that the decentralized finance platforms chosen were audited by independent parties. Defi Platforms Under the Eye of the FBI The FBI has begun to notice the attention scammers are giving to decentralized finance (defi) platforms in order to exploit their operations. The bureau has issued a public service announcement warning investors and defi platforms about this development, and issuing recommendations to try and prevent these exploits from happening. The FBI has observed three recent hacks, by which attackers have managed to compromise these decentralized finance protocols: initiating flash loans, exploiting signature verifications to empty cross-platform bridg...

El Zonte, a beach in El Salvador rebaptized as “Bitcoin Beach” due to its adoption of the cryptocurrency, will receive infrastructure investments as part of a strategic plan of the government of El Salvador. Surf City, another beach location in the La Libertad region, will also receive road improvements and other upgrades. ‘Bitcoin Beach’ to Benefit From Infrastructure Investments Bitcoin Beach, a beach in El Zonte, El Salvador, is getting a set of infrastructure upgrades from the country’s government. The beach is iconic due to its adoption of bitcoin to build a circular economy in the area. These investments will be directed toward building a new set of facilities for tourists to better enjoy the location. Regarding the execution of these investments, President Nayib Bukele stated : El Zonte for many is known as Bitcoin Beach; we are going to fix an area of 15,000 square meters, where there will be a shopping center, parking, beach club, treatment plant, to revitalize the a...

Farms mining cryptocurrency at oil wells in Russia account for 85 megawatts (MW) of energy capacity, experts have estimated. Investors are considering projects for another 200 MW despite constraints stemming from Western sanctions, a report reveals. Annual Income From Crypto Mining With Associated Gas in Russia to Exceed One Billion Rubles Data centers mining cryptocurrencies in Russia’s oil fields have a combined power rating of 85 megawatts, which is 23% of the market, according to analysts at Vygon Consulting, an independent consultancy working on the development of the Russian fuel and energy complex. These crypto farms are supplied with electricity generated by small power plants burning associated petroleum gas ( APG ), a by-product of the extraction of black gold, that oil companies are required to dispose of. While it costs them almost nothing, they can sell it to miners. Russian oil producers use around 17 billion cubic meters of APG annually to power faciliti...

GameSwift is a one-stop gaming ecosystem that aims to introduce cross-chain interoperability to web3 gaming. Chain, Web3 Infrastructure, Platform, and Gaming Studio are the four well-designed and integrated pillars of the ecosystem. Its original infrastructure facilitates implementing blockchain technology and sharing in-game resources for game developers and lets the players enjoy their gaming experience to the fullest. Wojciech Gruszka, the Founder and CEO of GameSwift , is commonly known on Twitter as PanParagraf . He recently joined the Bitcoin.com News Podcast to talk about the market: Wojciech is a lawyer and blockchain projects advisor. Thanks to his experience gained in international corporations such as Deloitte and Shell he’s been successfully advising various fintech organizations. Known to a wider audience for his Twitter profile based on extensive tokenomics analysis. To learn more about the GameSwift ecosystem visit gameswift.io , and join the comm...

A constitutional court in the Central African Republic has reportedly ruled that the Touadéra government’s offer of land and citizenship to buyers of the sango coin is unconstitutional. The court said the sango-coin-for-citizenship scheme must be stopped because the country’s “nationality has no market value.” Offering Land and Minerals to Sango Coin Investors Ruled Unconstitutional In a ruling likely to derail the Central African Republic (CAR)’s crypto ambitions, a constitutional court has ruled that the government’s plan to offer full citizenship to investors in its sango coin cryptocurrency is illegal. In addition, the court said the government’s offer of land and access to minerals such as gold to sango coin buyers is unconstitutional. According to the court, the country’s “nationality has no market value,” hence President Faustin-Archange Touadéra’s government must stop promising citizenship to investors that buy sango coins worth $60,000. Government Says It ...

The U.S. Securities and Exchange Commission (SEC) has warned about scammers exploiting investors’ fear of missing out (FOMO) on social media. “If a crypto investment ‘opportunity’ sounds too good to be true, it probably is,” the SEC cautioned. SEC Says Scammers Often Use Social Media to Defraud Investors The U.S. Securities and Exchange Commission (SEC) published an Investor Alert titled “Social Media and Investment Fraud” Monday. The SEC’s Office of Investor Education and Advocacy warned that “fraudsters often use social media to scam investors.” Encouraging investors to be skeptical and “never make investment decisions based solely on information from social media platforms or apps,” the securities regulator described: Fraudsters may exploit investors’ fear of missing out to lure investors on social media into ‘crypto’ investment scams. “If a crypto investment ‘opportunity’ sounds too good to be true, it probably is,” the SEC stressed. “Promises of high investment r...

Dubai, Tuesday, August 30th – Zogi Labs Ltd. officially releases The Legends of Bezogia Beta to global audiences seeking to experience an NFT crypto-based MMORPG like never seen before. The Legends of Bezogia takes the crypto gaming industry to new heights with next-level graphics, a rich and deep backstory, countless quirky characters & villains and a massive open world. Players can rent, own & sell their own NFT Bezogi characters and kit them out with NFT weapons that add unique flavor to the gameplay never seen before in an NFT crypto-based massive open-world game. “Following on from a year of hard work, devotion and creative passion we’re extremely excited to finally launch The Legends of Bezogia Beta after an overwhelmingly positive response & signup count. With the aim of taking the NFT crypto gaming industry by storm, the game will give users all around the world a totally new experience in crypto gaming which is fitting for 2022. Gone are the days of crypto g...

The chief global strategist of JPMorgan Asset Management has advised investors to focus on valuations, invest in value stocks, sell crypto, and steer clear of bitcoin. “The Federal Reserve is overestimating the strength of the U.S. economy as it feels guilty about the fact that inflation went up under their watch,” he said. JPMorgan Strategist’s Recommendations JPMorgan Asset Management’s chief global strategist, David Kelly, has some advice about what investors who are worried about a hawkish Federal Reserve should invest in. Following the speech by Federal Reserve Chairman Jerome Powell Friday at Jackson Hole, Wyoming, he was quoted as saying : The economy has got one foot into a recession and the other on the banana peel now. “We are taking forceful and rapid steps to moderate demand so that it comes into better alignment with supply, and to keep inflation expectations anchored. We will keep at it until we are confident the job is done,” Powell said last week. Warning of more...

According to a recent report, the venture capital firm founded by Alexis Ohanian, Seven Seven Six, is planning to raise $177 million for a new crypto-centric fund. The new Seven Seven Six fund called Kryptós will concentrate on investing in cryptocurrencies like bitcoin and ethereum. Seven Seven Six Launches Cryptocurrency Fund Kryptós — Plans to Go Live in October On August 29, 2022, The Information reporter Kate Clark published a report that noted Reddit co-founder Alexis Ohanian’s Seven Seven Six is raising money for a new crypto-focused fund called Kryptós. The company has been behind a number of investments tethered to the crypto and Web3 industry. For instance, Seven Seven Six led the Ethereum Web3 wallet platform Rainbow’s $18 million funding round . In mid-December 2021, Seven Seven Six teamed up with Polygon to launch a $200 million social media Web3 fund. On Monday, The Information’s report says the fund Kryptós is looking to raise $177 million and it will invest in cry...

Albanian authorities have detained the founder and chief executive of the Turkish cryptocurrency exchange Thodex, who allegedly fled Turkey with customer funds as the trading platform collapsed. Faruk Fatih Ozer was wanted for fraud with a red notice issued by Interpol. Albania Captures Alleged Crypto Fraudster, Prepares to Hand Him Over to Turkish Judiciary Police in Albania arrested 27-year-old Turkish businessman Faruk Fatih Ozer who founded and operated the now-defunct crypto exchange Thodex. Albanian law enforcement has been trying to locate him since he reportedly fled to the country with $2 billion of investors’ assets. Close to 400,000 people are believed to have suffered losses. According to an announcement by Turkey’s Ministry of Internal Affairs, quoted by the Anadolu Agency and other Turkish media, the Minister of the Interior of Albania Bledar Çuçi informed his counterpart in Ankara, Süleyman Soylu, that Ozer was captured in the city of Vlora. His identity was confirmed...

Bitcoin miner Cleanspark says it experienced accelerated growth amid the crypto winter this year and the operation’s hashrate has surpassed 3 exahash per second (EH/s), tripling in less than twelve months’ time. The news follows a number of expansions bitcoin mining operations have embarked upon during 2022’s tumultuous crypto market. Cleanspark’s Hashrate Surpasses 3 EH/S, Bitcoin Miner’s Executive Chairman Says Firm Was Prepared ‘for a Rough Market’ On Tuesday, the bitcoin mining operation Cleanspark (Nasdaq: CLSK ) announced that the company’s hashrate has officially surpassed 3 EH/s. Cleanspark notes that the firm’s hashpower has jumped three times higher in less than a year and currently the company has 31,000 ASIC (application-specific integrated circuit) mining rigs. According to the company, Cleanspark has recorded a “daily production high of 13.25 bitcoins.” Cleanspark’s update on Tuesday follows the firm revealing it acquired thousands of next-generation ASIC miners at a d...

PRESS RELEASE. LONDON | August 30, 2022 – Hubble Protocol, home of the USDH stablecoin, has launched Kamino Finance : the first concentrated liquidity market maker (CLMM) optimizer of its kind on the Solana blockchain. Kamino Finance, launching initially on next-generation decentralized exchange (DEX) Orca, will allow users to earn higher yields in a fully automated way simply by depositing their crypto into vaults linked to Orca’s liquidity “whirlpools.” Kamino Finance builds on the advantages of CLMM’s, which reduce slippage and facilitate larger trades by narrowing the price range at which users provide liquidity. By automatically adjusting positions so they are set in an optimum range to capture the most fees and provide the deepest liquidity, Kamino removes common pain points for CLMM liquidity providers (LPs). In addition, Kamino automatically compounds CLMM fees and rewards back into users’ LP positions, boosting yields as position sizes grow. Marius Ciubotariu, the co-foun...

Meta, the corporate entity behind the social media platforms Instagram and Facebook, has revealed that non-fungible token (NFT) support now offers cross-posting compatibility between the two major social media platforms. The digital collectible-sharing ability follows Meta rolling out NFT and Web3 wallet support to 100 countries during the first week of August. Meta’s NFT Rollout Continues as Social Media Giant Introduces the ‘Ability to Post Digital Collectibles’ Meta Platforms, Inc. (Nasdaq: META ), announced on August 29, 2022, that the firm is “introducing the ability to post digital collectibles” across Instagram and Facebook. Meta disclosed the information on Twitter and shared a blog post published in May that gets updated on a regular basis. When Meta tweeted about the NFT cross-posting compatibility and support for Facebook and Instagram, the company got a few replies from individuals who liked the idea and also from people who mocked the NFT concept. One person wrote tha...

Flow rose for a second consecutive session on Tuesday, as the token climbed by 12% earlier in the day. The rebound comes after prices fell to a one-month low over the weekend. Cosmos was also in the green, as it, too, hit a five-day high. Overall, the global crypto market cap is up 0.68% as of writing. Flow (FLOW) Flow (FLOW) was one of the notable movers during Tuesday’s session, as the token rose by as much as 12% today. On Sunday, FLOW fell to its lowest level in over one month, as cryptocurrency markets fell victim to an influx of bearish pressure. Since then prices have rebounded, moving away from yesterday’s low of $1.77, hitting a peak of $2.08 earlier in the day. Today’s surge saw FLOW/USD almost collide with a key resistance point at $2.10, which caused some uncertainty in price movement. Following its earlier peak, FLOW is now trading at $1.94, as previous bulls moved to liquidate their positions, sending prices lower. As seen on the chart, this may also be due to the...

In two days’ time, bitcoin’s price dropped to fresh August lows as it dipped below the $20K per unit region for the first time since mid-July. During that time, two addresses created on December 19, 2013 sent 10,000 bitcoin worth $203 million to unknown wallets after sitting idle for close to nine years. Onchain data shows the 10,000 coins moved this week originally came from the Mt Gox breach that occurred on June 19, 2011. Whale That Once Held 134,000 Bitcoin From the 2011 Mt Gox Hack Spends the Last 10,000 This Week A 2013 whale moved approximately 10,001.514 BTC on Sunday, August 28, and on Monday, August 29, 2022. The funds stemmed from two addresses ( 1 ,& 2 ) created eight years and eight months ago on December 19, 2013. The 10,001 bitcoin transaction was caught by the blockchain parser btcparser.com , a tool that often catches so-called ‘sleeping bitcoins’ moving after sitting idle in addresses for years. Some of the sleeping bitcoins caught by blockchain parsers are BT...