Bitcoin Price Falls Below $50,000 and Pulls Back

Bitcoin prices decreased to $46,601 and then went back up. This was because the people who buy them could not push the price over $58,000. If people can’t break through this level, there is no chance of going up. In the last few weeks, the prices went up before they went down. They were able to get over a level, but then they couldn’t keep going up even though they wanted to. Today,...

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Solana (SOL) Surges Amid News of Strategic Investments

Solana has gone up a lot in the past twelve months. It is now around 53% higher than it was thirty days ago. Solana protocol, a decentralized network focused on developing scalable cryptocurrency applications, announced that it managed to raise a total of $60 million from strategic private investors. Reportedly, the company anticipates using the funds to develop its ecosystem in four specific...

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Tesla should adopt Cardano?

Tesla stopped accepting Bitcoin as a form of payment. There were concerns about the environment so Tesla stopped. After that, other crypto projects started to show off their green cred. The Cardano Foundation is trying to convince Tesla to take Cardano (ADA) tokens. Cardano uses a different way to keep the network secure. Proof of stake (PoS) is done by having people use their money. People...

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Aurora: Ethereum on Scaling Bases with Near Protocol

Aurora is a new way to use Ethereum. It can be easier for developers and users. Now you can have the experience of Ethereum, but on top of NEAR Protocol. It’s called Aurora and it has two pieces: EVM and a cross-chain bridge, which are both powerful. Aurora keeps gas prices low. It is expensive to buy gas, so Aurora limits the price of gas to be a few cents. This means that people can buy...

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Hedge Funds and Asset Management Companies Can Now Use Cowen’s New Investment Bank Service

Hedge funds and asset management companies will be able to use Cowen’s new investment bank service. Cowen will also invest $25 million in PolySign, which was founded with the participation of David Schwartz, technical director of the blockchain project Ripple. U.S. investment boutique Cowen is launching a new service – cryptocurrency storage for institutional investors, Bloomberg...

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Banksy’s Love is in the Air Sold for $12.9 Million at Sotheby’s

An auction house called Sotheby’s sold a painting for $12.9 million. The painting was by an artist named Banksy. This is the first time Sotheby’s has sold a physical lot for digital currency, and it will be paid in cryptocurrency. They could have accepted bids in Bitcoin or Ethereum. Charles Stewart said Sotheby’s has partnered with Coinbase, the largest U.S. cryptocurrency...

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Elon Musk Likens Bitcoin Consumption to Insanity

The CEO of Tesla said that the company will stop selling electric cars because of cryptocurrency. Elon Musk said that the amount of electricity that Bitcoin uses is insane. He looked at data from Cambridge Centre for Alternative Finance and found out that in 2021, the average annual electricity consumption of Bitcoin will be 149.63 TWh. This was how he complemented his announcement to Tesla...

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One Elon Musk’s Tweet Sends Bitcoin on a Wild Ride: Why BTC is Resilient to his Actions, Even Though it Took an 18% Dump

Bitcoin dived 17% when the CEO of Tesla said that Bitcoin’s energy consumption is too high. But now it has come back up to be over $51,000. Bitcoin can withstand the actions of a single user no matter how much power they have. Cointelegraph explains why this is true. Proof-of-Work doesn’t care Bitcoin’s Proof-of-Work (PoW) algorithm rewards both miners and investors over time...

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The Risky World of Bitcoin Mining

Bitcoin’s price dropped today. Bitcoin was at $58,000 yesterday and it went down to $46,000. Today it was at about $51,000 but it is still going down because the price is higher than the 100-days EMA. The cause for the price drop is primarily due to the fact that Elon Musk sent out a Tweet stating that Tesla is no longer accepting Bitcoin as payments for purchases on their electric...

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Binance Temporarily Suspends ETH and ERC-20 Withdrawals

Just now, the major crypto trader Binance tweeted that they will suspend withdraws of Ethereum and all tokens based on its ERC-20 standard. They are doing this for a while because they need to take care of their wallet. This will happen from 8 a.m. to 9 a.m. This trade is important because it will allow trading and deposits to keep happening. This is the third time that Binance has shut down...

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Drop Yesterday: Bitcoin (BTC) Decreases from $58,000 to 46,000

There was a decrease in Bitcoin on May 12. But it has since bounced back and is above the $48,000 level. The price of bitcoin dropped after Tesla stopped taking BTC as payment. Significant BTC drop Yesterday, BTC dropped significantly. It fell from a high of $58,000 to a low of $48,600. In the early hours of the morning it got to $46,000. The support area at $48,000 has been in place since March...

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Huobi Establishes $100 Million-Term Huobi Ventures Venture Fund

Huobi is a company that sells and buys things. They have made a new company. It is called Huobi Ventures. Huobi Ventures has money starting at $100 million dollars in it. The exchange group said on Thursday that it has combined three parts of their company into one. Huobi Eco Fund, Huobi Capital and Huobi DeFi Labs will now be led by Zhang Li, who joined the company last August. A woman named...

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