Author: Crypto Global News

El Salvador Buys 100 More Bitcoins as Crypto Market Falls By Aoyon Ashraf El Salvador’s President Nayib Bukele said in a tweet that he bought the coins at “a discount.” The government of El Salvador bought 100 more bitcoin, President Bukele tweeted on Friday, while the price of the largest crypto currency by market-cap fell near $54,000. “El Salvador just bought the dip. 100 extra coins acquired with a discount,” Bukele said. Bitcoin price fell about 8% on Friday around $54,237, as broader markets tumble on new COVID-19 variant fear. Bitcoin officially became legal tender in El Salvador in September,…

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Cryptocurrency Miners Using Hacked Cloud Accounts, Google Warns By Dan Milmo ‘Threat horizon’ report by tech firm’s cybersecurity action team details hacking threats to cloud service. Cyberhackers are using compromised cloud accounts to mine cryptocurrency, Google has warned. Details of the mining hack are contained in a report by Google’s cybersecurity action team, which spots hacking threats against its cloud service – a collection of remote computing services which can include storage of customers’ data and files off-site – and gives advice on how to tackle them. Other threats identified by the team in its first “threat horizon” report include:…

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5 Things To Know Before You Buy Solana (Sol) By Emma Newbery Solana has grown 13,300% since the start of the year. It is a fast cryptocurrency that many see as a potential alternative to Ethereum. It already has a number of projects running on its network. When the price of Solana (SOL) started to rise in July, people dubbed it the Solana summer. As we head into November and the price continues to climb, perhaps we should instead simply call 2021 Solana’s year. Why is everybody talking about Solana? Is it a good investment? Here are five things…

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Higher Volatility Expected in Bitcoin and Ether By Damanick Dantes Cryptocurrencies were mostly lower on Wednesday as bitcoin traded in a tight range around $56,000. Technical indicators suggest downside is limited around the $53,000 support level, which could keep buyers active toward $60,000 resistance. Trading volume is expected to decline over the next few days, especially on the U.S. Thanksgiving holiday Thursday. Still, some analysts expect volatility to increase in the bitcoin and ether options market as November comes to a close. Rising volatility could cause sharp price moves over the next few days, which could discourage buyers from holding onto…

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SHIB Is the 5th Most Held Token on the Entire Ethereum Network By Jordan Major Shiba Inu (SHIB), the decentralized meme coin built on Ethereum (ETH) as a competitor to Dogecoin (DOGE), thanks to its growing popularity, is now the fifth-ranked token by the number of holders on the entire network. According to data acquired by Finbold, as of November 24, 2021, SHIB has the fifth-largest number of holders out of a total of 470,782 ERC-20 tokens on the Ethereum network tracked by Etherscan.io. At the time of publication, Shiba Inu had a total of 995,285 holders. Consequently, SHIB is fewer than…

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Audius Launches NFT Embed Tool for Twitter, Discord By Chris Williams Audius users will now be able to showcase their Ethereum and Solana NFTs on Twitter, Discord, and other websites. Audius has launched a feature to let users embed their NFTs on Twitter and Discord. Users must connect their Web3 wallet to the app to get access to an embeddable video gallery of their NFTs. Besides Audius, several Web2 companies have started to explore NFTs as the technology has gained popularity in recent months. The feature aims to usher in mass NFT adoption by making unique digital assets more discoverable. Audius…

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Altcoins Outperform as Bitcoin Stabilizes By Damanick Dantes Bitcoin’s price is starting to stabilize after a near-4% drop over the past week. The cryptocurrency was trading around $57,000 at press time and could go higher, initially toward $60,000-$63,000, according to technical indicators. Analysts expect trading volumes to decline this week given the U.S. Thanksgiving holiday on Thursday. “The last three years we’ve had downward volatility every time around this holiday; could be due to end of month rotations, options/futures expiries and rebalancing,” CryptoQuant wrote in a blog post. Bitcoin is up about 3% over the past 24 hours, compared with an…

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Talis Raises $2.3M To Build NFT Marketplace and More on Terra Blockchain By Eli Tan A $2.3 million private token sale by non-fungible token (NFT) marketplace Talis could expand NFT offerings on the Terra blockchain in the coming year. The company announced the sale Monday, which was led by ParaFi Capital and Arrington Capital and included investment from Benson Oak Ventures, GCW Capital and Blocbits. As NFTs find their footing on blockchains not named Ethereum, their historical home, various projects are looking to replicate the success of on-chain marketplaces such as OpenSea, Rarible and Nifty Gateway. Similar races are shaping…

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Cryptocurrencies Fade on News That Powell Will Be Renominated As Fed Chairman By Damanick Dantes Bitcoin traded lower on Monday after buyers failed to sustain a weekend rally toward $60,000. The cryptocurrency was trading at around $56,000 at press time and is down about 5% over the past 24 hours. Equities and cryptocurrencies initially ticked higher earlier during New York trading hours after U.S. President Joe Biden said he will renominate Federal Reserve Chairman Jerome Powell, following some speculation that Fed Governor Lael Brainard could replace Powell to lead the central bank for the next four years. For now, some…

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El Salvador Plans To Create an Entire City Based on Bitcoin By Jon Fingas El Salvador’s government is throwing even more of its weight behind Bitcoin. Coindesk and BBC News report President Nayib Bukele has unveiled plans to build a “Bitcoin City” near a volcano along the Gulf of Fonseca, between La Unión and Conchagua. The metropolis will have its own geothermal power plant to help support crypto mining, and there will be no capital gains, income, payroll or property taxes, just value added tax. The city will be shaped like a coin. While it should include the full amenities…

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