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This Bankrupt Crypto Firm Returns 27,000 Mining Rigs To Pay Off Loan

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During the 2021 crypto bull, lenders issued over $ 4 billion in loans collateralized by Bitcoin mining hardware. These financial instruments backfired on BTC mining companies as the sector trended to the downside, and they defaulted on their loans.

According to a report from Bloomberg, bankrupt Bitcoin miner Core Scientific will return over 27,000 mining machines to crypto lender New York Digital Investment Group (NYDIG). The decision aims to try to write off a $ 38.6 million debt with the firm.

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Crypto Lender Takes It All

BTC miner Core Scientific received court approval to send the machines to NYDIG. The parties will complete the transaction in the coming months.  Read more...

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DYDX Explodes 200% In Last 30 Days – How Much Firepower Does This Token Have?

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The dYdX ecosystem has been growing since it was founded back in 2017. The exchange has now become one of the leading decentralized exchanges for trading perpetuals, a trading product similar to futures contracts minus the expiration dates. 

According to Coingecko, the governance token of the exchange, DYDX, has catapulted 175% in the bi-weekly with the biggest gains made in the monthly time frame at nearly 200%. This has been caused by positive on-chain developments and the complete shift in sentiment in cryptocurrencies. 

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Top 5 AI Cryptos Worth Investing In This February

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There are numerous new cryptocurrencies that make use of the most recent advancements in artificial intelligence (AI) technology; however, only a select few of these AI-based cryptocurrencies are performing better in terms of their applicability and potential.

AI cryptos are currencies that enable blockchain systems for artificial intelligence. To use the platforms and reap the benefits of its integrated artificial intelligence, users must spend digital tokens.

AI and cryptocurrencies are currently two of the most fascinating technologies. As a result, an increasing number of AI-based cryptocurrencies and related projects are combining with the new technology to create creative products with practical applications.  Read more...

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A Presidential Visit To Madeira: Is This Island The Next Bitcoin Paradise?

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On a visit to the Portuguese island of Madeira, a delegation of Bitcoiners surfed, met with the president and extended Bitcoin adoption.

This is an opinion editorial by Joe Nakamoto, a pseudonymous Bitcoin traveler and reporter who helped create a recent documentary on Madeira’s Bitcoin adoption.

What is a Madeira? Why do Bitcoiners keep talking about it? Does it come with fries? And why did Pleb Music (aka, Max DeMarco) shoot a Bitcoin documentary on this tiny island?

 Read more...

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Crypto Market Sentiment Returns To Pre-LUNA Crash Levels, What Does This Mean?

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The crypto market sentiment dropped drastically through 2022. Most of it was triggered by multiple firms collapsing, sending market prices into a downward spiral. This saw investor sentiment bouncing between fear and extreme fear for the better part of H2 2022. However, there has been a turn in the tide as bitcoin leads the market on another rally. Investor sentiment has now returned to pre-LUNA crash levels.  Read more...

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First Bitcoin Mining Powered By Nuclear Energy To Open In The U.S. In Q1 This Year

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Positioning bitcoin mining with carbon-free sources, like nuclear energy, offers enormous benefits to the cryptocurrency industry as digital assets grow in popularity, acceptability, and engagement with the broader economy.

World Nuclear News reports that Cumulus Data, a subsidiary of independent power producer Talen Energy and a maker of zero-carbon data centers, has finished installation on the first building of its nuclear-powered Susquehanna data center site in Pennsylvania.

Cumulus Data says that the 1,200-acre complex will be the first of its type in the United States when it begins hosting bitcoin mining and cloud computing services in the first quarter of 2023.  Read more...

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Following Massive Investment By Microsoft, This Is The Top 10 AI Crypto For 2023

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Microsoft made a big bet on a nascent sector, Artificial Intelligence (AI), that could shape the future of tech and the crypto industry for years to come. The latter sector seems poised to benefit from the emerging trend and the billions flowing into its products and services.

Today, Microsoft confirmed its plan to pour millions of dollars in capital into Open AI, the company behind the popular program ChatGPT, Dalle-E, and others. Thus, the company gave the first step in a tech race bound to heat up across 2023.  Read more...

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Cardano Is The Most Loved Crypto In This Part Of The World, Study Reveals

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The Cardano blockchain and its community have been building a close relationship with Africa, and the results are paying off. According to a report from Coin Kick-off, this cryptocurrency is the most loved in the region.

The report used data from social media platforms and analyzed it with Artificial Intelligence (AI) to rank cryptocurrencies according to users’ sentiments. Coin Kick-off leveraged the cashtag feature on Twitter and matched it with their geotagged location. Over 800,000 Tweets allowed them to build this study.

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Top 5 Crypto To Watch This Week – APT, MANA, GALA, BTC, SOL

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Despite the fact that the performance of a large number of cryptocurrencies has improved in the last few weeks, certain assets are still worth monitoring due to their rate of increase and their potential impact on the entire cryptocurrency market.

For the week beginning January 16, these top 5 crypto should be on the radar of investors. These crypto have the biggest seven-day surge and the potential for additional growth.

Top 5 Crypto For The Week

Aptos (APT)

Aptos (APT) tops our list of the top 5 crypto. Based on data by Coingecko, APT is currently trading at $ 8.11, and has exploded 108% in the last seven days.  Read more...

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This Year, Bitcoiners Should Quit Their Twitter Addictions

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Bitcoin Twitter is a strong and vibrant community, but members should make sure they are in control of the energy they spend there.

This is an opinion editorial by Mark Maraia, a professional development author and Bitcoin researcher.

I’ve been studying Bitcoin since 2020 and I’ve noticed there is a strong, vibrant community on Twitter. In fact, “Bitcoin Twitter” is virtually its own “country” that exists online.  Read more...

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You Can Now Live In This Swiss City Solely On Bitcoin

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Lugano, Switzerland makes living on a Bitcoin standard possible with hundreds of merchants that accept BTC.

If you’ve ever sought to live entirely on bitcoin, look no further than Lugano Switzerland. 

The Plan ₿ foundation recently took to Twitter to announce a new map which showcases the hundreds of merchants across the city that accept bitcoin. “Now you can live in Lugano just using Bitcoin!,” the tweet read. “Find out all you need to enjoy your stay in Lugano through the map with all Lugano’s Plan ₿ merchants.”

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Solana Beats Competitors In Market Cap – Will SOL Shine Brighter This Week?

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Solana, the touted “Ethereum killer,” has sustained losses in the past few months because of the bear market and its ties to Sam Bankman-Fried’s now-defunct crypto exchange FTX. But recently, the troubled ecosystem surpassed Shiba Inu and Tron in terms of market valuation. 

As of writing, SOL still held this advantage according to data from CoinMarketCap. This bullish action caused the crypto’s price to jump 0.9% in the daily timeframe, further beefing up its 36% increase in the past week.  Read more...

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Altcoin Trading Dominance Exceeds 50%, What Does This Mean For Bitcoin?

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On-chain data shows the trading dominance of altcoins is now more than 50%; here’s what this may mean for Bitcoin.

Altcoin Trading Dominance Has Increased To More Than 50%

As pointed out by an analyst in a CryptoQuant post, sustainable moves in the market have usually started with Bitcoin going up first. The “trading dominance” indicator measures the percentage of the total trading volume that any crypto is contributing.

When the value of this metric rises for any coin, it means the volume share of that particular coin is going up, showing that there is increased trading interest from investors. On the other hand, declining dominance suggests the coin is losing steam as not many holders are trading it compared to the rest of the market.  Read more...

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Peter Schiff Says Get Ready For Worse Inflation, What Does This Mean For Bitcoin?

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Economist Peter Schiff has been in strong opposition to bitcoin for a long time, and his stance on the digital asset has not changed over time. However, recent forecasts from the economist could actually be in favor of bitcoin if they do come to pass. Just before the end of the year 2022, Schiff shared his thoughts about inflation, the US dollar, and where he believes both of these are headed.

Inflation Will Surge, Dollar Will Suffer

In tweets that were shared by the economist, he talks about the current inflation trend. According to Schiff, the current belief that inflation would slow down in the new year are wrong. Rather, he expects higher inflation numbers in 2023.  Read more...

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Why This Gemini Founder Called Out Barry Silbert: 340,000 Earns Users Are “Tired”

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Cameron Winklevoss, a co-founder at crypto exchange Gemini, released an open letter for Barry Silbert, founder, and CEO of Digital Currency Group (DCG). The parent company of Grayscale and crypto lender Genesis, Winklevoss, called out his partner on the situation that is putting thousands of customers in financial distress. 

Bitcoinist reported that Gemini’s Earn product halted operations following Genesis’ liquidity crunch. The company was impacted by FTX and had been attempting to raise capital to resume its operations. In the meantime, customers’ funds are stuck in both Genesis and Gemini’s Earn. 

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Ethereum DeFi Suffered 76% Decline In Total Value Locked This Year

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Data shows the bear market has also hit Ethereum decentralized finance (DeFi) hard, as the total value locked in the sector has declined by 76%.

Total Value Locked In Ethereum DeFi Now Only Around $ 23.1 Billion

Decentralized Finance (or DeFi as it’s most commonly known) includes all types of financial services that are done on the blockchain. Like other entities on the blockchain, DeFi is public and doesn’t involve any centralized party to get things done (as transactions are peer-to-peer).  Read more...

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Tesla And Bitcoin Have ‘More In Common Than You Think,’ This Nobel Prize Winner Says

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Nobel Laureate Paul Krugman has joined the ranks of the world’s intellectuals and business moguls to give the thumbs-down to cryptocurrency.

Last June, the American economist drew parallels between the cryptocurrency craze and the real estate bubble of the mid-2000s, stating that consumers’ belief in crypto assets is comparable to their enthusiasm in the US home market prior to its collapse.

Fast forward six months, Krugman has compared the crypto to Tesla and its stocks.

On Tuesday, Krugman wrote an opinion piece in the New York Times regarding Tesla, bitcoin, and their massive market prices.

In his article, he inquired:  Read more...

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Bitcoin’s Trading Has Become “Boring”: Is This a Bad or Good Thing?

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As the price of bitcoin continues on its sideways journey, it’s helpful to consider this volatility compared to previous episodes.

This is an opinion editorial by Francois Moreau, a fintech writer and financial risk analyst based out of Paris.

The Fed’s interest rate spikes are spooking the market, and speculative assets like bitcoin are amongst the hardest hit. Although once-touted as a non-correlative asset compared to equity markets, bitcoin’s beta is ultimately well past one as it falls at a rate nearly twice that of the struggling stock market.  Read more...

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This Is The Best Time For Bitcoin Mining Opportunities

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With the price of bitcoin being so down, opportunities abound for bitcoin mining operations with structured cash and efficient operations.

This is an opinion editorial by Ruda Pellini co-founder and president of Arthur Mining, an ESG-focused bitcoin mining company.

I recently saw an article that cited the level of leverage and debt of the world’s leading Bitcoin mining companies. Since they are listed companies, it is easy to find their financial statements and prove the obvious: this is a counter-cyclical business that requires a lot of efficiency and professional management.  Read more...

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🔴Is Binance in Trouble? | This Week in Crypto – Dec 19, 2022

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The post 🔴Is Binance in Trouble? | This Week in Crypto – Dec 19, 2022 appeared first on 99 Bitcoins.

All eyes are on Binance, MetaMask partners with PayPal, and major investment banks now have …

🔴Is Binance in Trouble? | This Week in Crypto – Dec 19, 2022 Read More »

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