Author: Crypto Global News

Publicly-Traded Utility Company Inks Deal to Power Bitcoin Mining in Wyoming By Cheyenne Ligon Black Hills Energy will deliver up to 75 megawatts of power to a new mining operation in Cheyenne, Wyoming. A South Dakota-based public utility company, Black Hills Corp., has inked a deal through its Wyoming subsidiary, Black Hills Energy, to provide power to a bitcoin mining operation in Cheyenne, Wyo. for at least five years. The agreement is the company’s first agreement for service under its Blockchain Interruptible Service tariff, which it began seeking in 2018. The tariff was approved by the Wyoming Public Service Commission…

Read More

Market Wrap: Crypto Rally Continues, Smaller Altcoins Outperform Bitcoin in June By Helene Braun, Krisztian Sandor BTC is up 22% since Saturday’s low of $17,593. Crypto assets continued to rally on Tuesday, three days after market-wide selling caused the price of bitcoin (BTC) to drop to a 52-week low. Bitcoin and ether (ETH) were both recently up about 5%, with bitcoin trading at $21,158.43 and ether at $1,146.41 on Tuesday afternoon. Stocks also rose as part of a wider rebound in assets. The tech-heavy Nasdaq rose 2.88%, and the S&P 500, which had its worst week since 2020 last week, gained 2.74%.…

Read More

Interest in ‘Bitcoin’ on Google Search Hits 12-Month High Amid Heightened Volatility By Justinas Baltrusaitis Over the last year, interest in Bitcoin (BTC) has surged, with the cryptocurrency recording fluctuating price movements characterized by an all-time high alongside significant corrections. Despite the asset currently undergoing heightened volatility, interest has spiked amid speculation over the next price movement. Data acquired by Finbold indicates that as of the week ending June 12, 2022, Google Search interest in the keyword ‘Bitcoin’ hit a 12-month high with a peak popularity score of 100. Notably, the spike represents a growth of 35% from a score of 74 recorded in…

Read More

First Mover Asia: A Chinese Alternative to Dollar-Based Stablecoins? Widening the Use of the CNH Presents Challenges; BTC Remains Above $20K By Sam Reynolds, James Rubin The token is a version of China’s currency designed for offshore use; other cryptos are mixed in light trading. Prices: Bitcoin holds above $20,000; other cryptos are mixed. Insights: China’s CNH token looks promising as an alternative to dollar-based stablecoins, but the challenges to expanding its use are formidable. Prices Bitcoin (BTC): $20,415 +0.4% Ether (ETH): $1,104 -2.2% Biggest Gainers Asset Ticker Returns DACS Sector Polkadot DOT +4.7% Smart Contract Platform Chainlink LINK +4.6% Computing Avalanche AVAX +4.1%…

Read More

Bitcoin Rebounds Past $20K, Ether Soars Above $1,100 By Tracy Wang The price of bitcoin bounced 16.7% off of its Saturday lows. Ether followed with a 29% gain. Bitcoin surged past $20,000 Sunday afternoon to $20,580 a coin, a 16.9% gain off its Saturday lows. The rally comes just one day after bitcoin, the largest cryptocurrency by market capitalization, fell below $20,000, its lowest price since November 2020. As of press time, bitcoin was trading at about $20,383 a coin. Bitcoin’s price surge reflects traders’ renewed appetite for risk, even as the market continues to digest the fallout surrounding crypto…

Read More

NFT Platform Immutable Launches $500M Venture Fund for Web3 Games By Michael Bellusci Immutable Ventures will work with groups including Animoca and GameStop. NFT scaling platform Immutable launched a $500 million venture fund focused on Web 3 games and NFT projects, according to a statement Friday. The new venture fund will also build on the Immutable X protocol through token grants and investments. IMX is Immutable X’s native token. Immutable said the fund will collaborate with crypto and gaming investors including BITKRAFT, Animoca, Arrington Capital, Double Peak, Airtree, King River Capital and GameStop. Immutable Ventures has invested in Web3 companies and…

Read More

First Mover Asia: When Crypto Rebuilds After This Cold Winter, Firms Like Three Arrows Capital Won’t Have a Place; Bitcoin Sinks Toward $20K By Sam Reynolds, Shaurya Malwa The crypto hedge fund, which has been one of the industry’s most prolific investors in new protocols and is also a large borrower, is facing $400 million in liquidations on its positions; ether drops 13%. Prices: Cryptos sink again. Insights: After the eventual crypto thaw, firms like Three Arrows Capital won’t find a place. Technician’s take: In place of Technician’s Take, First Mover Asia is republishing an essay for CoinDesk by Tusk Venture Partners…

Read More

First Mover Asia: Celsius Risks Triggered Crypto Crash, Says Huobi Group CFO; Bitcoin Wobbles but Doesn’t Break Post-Rate Hike By Shaurya Malwa, James Rubin Lily Zhang told CoinDesk the lending platform’s problems were ill-timed following the collapse of the terraUSD stablecoin, and crypto prices could decline further; major altcoins regain ground. Prices: Bitcoin fell as the U.S. Federal Reserve Chair Jerome Powell announced the highest interest rate hike since 1994. Bitcoin later recovered. Insights: Huobi Group’s chief financial officer attributed the recent crypto crash to lending platform Celsius’ announcement that it would pause withdrawals. Technician’s take: In place of Technician’s Take, First Mover…

Read More

Bitcoin Slump Deepens in Crypto Meltdown By Brian McGleenon Bitcoin has fallen below the $23,000 mark for the first time since December 2020, igniting a domino effect of cryptocurrency sell-offs. The global cryptocurrency market capitalisation fell to just under $1trn on Tuesday for the first time since January 2021. According to data provided by Coinmarketcap, the global crypto market cap fell to $983.72bn, before rebounding to a current price of $1.02trn. Bitcoin (BTC-USD) has fallen by 28.8% in the last week to stand at $22,365, a price it has not visited since December 2020. Ethereum (ETH-USD), the second largest cryptocurrency…

Read More

Largest Crypto Exchange Halts Bitcoin Withdrawals By RT News Binance says the measure is temporary and caused by a transaction getting stuck. The world’s largest cryptocurrency exchange, Binance, has temporarily halted Bitcoin withdrawals “due to a stuck transaction causing a backlog,” CEO Changpeng Zhao said in a tweet on Monday. Zhao tried to reassure users that their funds were safe and the problem was only impacting the Bitcoin network. The Binance team is currently fixing the backlog, the exchange said in an official announcement. The halt to Binance withdrawals came mere hours after crypto lender Celsius announced a suspension of…

Read More