Over the past seven days, data reveals that the German government has transferred 3,820 BTC to cryptocurrency exchanges, with around 2,165.49 BTC moved in the last eight hours. German Government’s Bitcoin Transfers Cause Stir A week ago, Bitcoin.com News reported that the German government’s wallet, containing bitcoins seized from a piracy website, held 47,179 BTC […]
Bitcoin News
How Fears Of A Possible Russian Invasion Of Ukraine Is Impacting Bitcoin
Bitcoin price, in the face of a possible Russian invasion of Ukraine, is shedding 0.7% of its value and is currently trading at ,352 on Coingecko charts Thursday, retreating from the ,000 level it hit on January 1.
Ethereum (ETH), the second most popular cryptocurrency also, is also down 2.14% to ,873.
The world’s most valuable cryptocurrencies are on the decline Thursday as news of a possible military action by Russia on Ukraine sends markets into a tailspin.
Russian Invasion Jitters Jolt Top Cryptos
Bitcoin is losing 3% of its value as Western jitters about Russian aggression on its neighbor Ukraine have grown higher, and worse than the Nasdaq Composite index’s 0.9% drop last December.
Even though Russia is amassing more than 100,000 troops near the Ukrainian border, some investors refer to the relative calmness of trading during this period of escalating geopolitical tensions.
Russia rejects western warnings of an invasion as “hypocrisy.”
According to BuyBitcoinWorldwide’s volatility index, Bitcoin’s current 30-day volatility is losing 3.35% of its value; it averages 4.56% back in 2021, although it still has not given up all of its gains from lows of ,950 two weeks ago.
BTC total market cap at 7.952 billion in the daily chart | Source: TradingView.com
Russia-Ukraine Frictions And Its Impact On Crypto
According to reports, United States President Joe Biden held an hour-long chat with Ukrainian President Volodymyr Zelensky on Monday to discuss the ongoing tensions.
For his part, US national security adviser Jake Sullivan reiterated his warning of a possible invasion.
Bitcoin and Ethereum fell over 9% to its lowest level in six months as fears of a Russian strike on Ukraine grew.
Globally, the market suffered a drop that extended sell-offs between many investors.
Related Reading | Russia Just Suggested A Blanket Ban On Bitcoin And Cryptocurrency
Crypto Industry Loses 0 Billion In A Day
Commotions in the cryptocurrency market were also in a roll as Russia considers banning Bitcoin within their respective grounds.
It’s possible that Russia is being swayed by skepticisms that seem to be sweeping the cryptocurrencies market.
Meanwhile, Russia is reportedly mulling a total ban on Bitcoin mining and trade, according to its central bank’s assessment.
Russia is an important processing hub for Bitcoin transactions because it accounts for around 10% of the world’s mining capacity.
Over the previous 24 hours, the cryptocurrency industry has lost 0 billion in market value. Bitcoin’s total market capitalization is now at .8 trillion.
In the current state of affairs, the vast majority of Bitcoin specialists feel that cryptocurrency and the future of the markets are interlinked at this time.
In the wake of recent events, the value of Bitcoin, Ethereum and Cardano have taken quite a beating.
Related Reading | Russia Plans To Impound Unlawfully Acquired Cryptocurrencies
Featured image from CoinMarketCap, chart from TradingView.com
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How NFTs are Impacting Artists’ Lives: Enter Bullseum
NFTs (Non-Fungible Tokens) are brought to the world by the blockchain. They are similar to cryptocurrencies, but NFTs are different. Unlike cryptocurrencies, NFTs are unique tokens. They display ownership, source and history on a permanent, transparent, decentralized, secure and open-source database.
NFTs are disrupting or on the verge of disrupting numerous fields. To name but a few:
- Art
- Collectibles
- Gaming
- Real Estate
- Music
Of all these fields, without a double leading the innovation in this space from the beginning are artists themselves. Many of these have had life-changing stories.
There is Trevor Jones, the Canadian painter living in Scotland who went from working four jobs to support his art career to selling his Bitcoin Angel for .2 million in February, which was at the time a record for the “most expensive open-edition NFT artwork”.
There is Ben Mauro, the artist who went from struggling to make ends meet to becoming a millionaire.
Another star example is that of Blake Jamieson. He’s a 36-year-old Brooklyn artist whose career exploded when he made over ,000 in NFTs sales in just over six weeks. He placed his artwork on platforms like SuperRare and OpenSea. He has since partnered with current and former NFL superstars Dez Bryant and Terrell Owens on NFT projects and is continuing to grow his brand.
NFTs make this possible because of the decentralized nature of the blockchain. The legacy art industry would require hiring an agent and working to get approval to be displayed in an art gallery. The artist is dependent to a large extent on others to bring their works to the market. In the case of NFTs, any artist can mint their own NFTs and bring them to market. And with the internet, social media and the increasing popularity of NFTs, collectors around the world can connect with the artists they want to collect. From a markets standpoint, art is being connected to a liquid market that it has never seen before. In just the last month alone, on just one exchange, OpenSea, there has been over billion in NFT sales, which is more than the worldwide NFT market size in the first half of 2021.
What will the future hold for the red hot NFT space? While no one has a crystal ball, it is clear that there is a robust community of collectors, traders and investors that have brought a very liquid market into play. There will be bull markets and bear markets, but it’s clear that NFTs are here to stay.
Enter Bullseum
Bullseum is an art project in which 5,000 NFT collectibles were created. This is not a generative project, but instead, each was hand-drawn by a human artist. These collectible bull NFTs are part of a fantasy ecosystem with an ambitious roadmap that will continue to grow and increase in features.
Some of what this will include:
- Artists competitions
- NFT airdrops
- A video game
- A cryptocurrency token
One of the most attractive uses of blockchain is creating a fair decentralized economy where creators can be rewarded for their creations, instead of being dominated by central institutions, gatekeepers, and middlemen. Bullseum stays true to this by creating an ecosystem that incentivizes artists, investors and traders to participate in it.
For investors, the project has an attractive aspect due to the fact that it is still very early. Those who want to participate in the ecosystem now can still get in at a floor price of 0.1 ETH. As part of the project’s roadmap as featured on their website, there will be a series of NFT airdrops that will give holders a chance to win more NFT collectibles. Holders also will be given an opportunity to vote in a series of community votes to help guide the direction of the project.
As of this writing, the community is actively growing, with about 10,000 members on the Discord chat.
FATF to Release New Rules for Global Crypto Sector, Impacting Exchanges, Funds, Custodians
n On June 21, the Financial Action Task Force will reportedly publish a note clarifying how participant nations should exercise oversight for the digital assets sectorn
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Coincheck President: Crypto Market Slump Impacting Exchange’s Post-Hack Recovery
The post Coincheck President: Crypto Market Slump Impacting Exchange’s Post-Hack Recovery appeared first on DCEBrief.
Bloomberg More Than $500 Mln Tether Issued in August Is Not Impacting Crypto Markets
n Bloomberg cites the falling prices of EOS and NEO in August as evidence that Tether issuance is not currently affecting crypto market pricesn
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Is the Legacy of Mt. Gox Still Impacting the Price of Bitcoin?
Nobuaki Kobayashi, a Japanese attorney and trustee in the bankruptcy case of Mt. Gox, has stated today that he has sold over 0 million worth of BTC and BCH. Apparently, the sales have been ongoing since September. According to a statement, Kobayashi is selling the digital assets to raise money for creditors who lost out thanks to the early crypto exchange’s insolvency in 2014. The document released earlier also states that he has more BTC and BCH to sell.
Does That Explain Today’s Dip?
According to reports in Bloomberg, Kobayashi has an additional .9 billion in tokens left to sell. It is believed that he will consider exchanging them for fiat currency to pay back Mt. Gox creditors in the future.
The case of Mt. Gox caused massive disruption to the cryptocurrency market back in early 2014. According to the official company line, around 850,000 Bitcoins were appropriated from the first major exchange at the hands of hackers. The BTC was worth around 0 million back then. Of course, today they’re worth considerably more.
Following the supposed hack, Mt. Gox filed for bankruptcy protection. They later claimed that they were able to recover around 200,000 BTC but the rest were lost.
The document issued today does not outline how Kobayashi intends to sell the Bitcoin and its derivative, Bitcoin Cash, which did not exist when the funds went missing in the first place. However, he did state that he was trying to get “as high a price as possible”, suggesting that he does not intend to simply dump them on the market.
The news has coincided with a dip in the price of Bitcoin. The most popular digital currency shed around ,000 off its price in just an hour and a half earlier today. However, based on the length of time that Kobayashi claims to have been selling Mt. Gox’s remaining Bitcoin, it seems unlikely that the abrupt downwards price pressure has been caused by his statement or actions.
A more likely explanation of the drop is the SEC announcement from today. They declared that all cryptocurrency exchanges must be registered with them. A statement from the agency read:
“If a platform offers trading of digital assets that are securities and operates as an ‘exchange’… then the platform must register with the SEC as a national securities exchange or be exempt from registration.”
At the time of writing, the price has returned back above the ,000 level. Such knee-jerk selloffs in response to any news are common in the space. With so much uncertainty surrounding the future of the emerging asset, the slightest story can panic investors. Similar downwards price pressure occurred after South Korea was simply rumoured to be “cracking down” on cryptocurrency earlier this year. The commotion turned out to be misplaced. The government there were seeking to tackle illegal activities associated with cryptocurrency – which seems much more reasonable.
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Why Bitcoin is Already Impacting Online Casinos?
So far 2017 has been a good year for Bitcoin, the world’s favorite cryptocurrency reached an all-time high of nearly ,000 per coin. People now realize that the digital currency is here to stay while market experts predict that a single coin could be worth a staggering 0,000 by 2030. One of the distinguishing features … Continue reading Why Bitcoin is Already Impacting Online Casinos?
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