Market News

11-Year-Cryptocurrency-Prediction-Turning-into-Reality
11-Year Cryptocurrency Prediction Turning into Reality

11 years have surpassed since the prediction was done. Bitcoin mining is dominated by a handful of large companies. We’ve seen a dramatic shift in the bitcoin mining landscape. In 2011, a Reddit user made a post on the bitcoin subreddit that accurately predicted the future of bitcoin mining and renewable energy. In his post, the user argued that as bitcoin mining difficulty increased, miners would eventually turn to alternative energy sources such as solar and wind power.  He also predicted that the mining industry would consolidate into a few large players who could afford to invest in renewable energy.

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Total-Crypto-market-cap-keeps-pushing-up
Total Crypto Market cap Keeps Pushing up

The cryptocurrency market capitalization is now $1.019 trillion. On July 18, crypto traders celebrated as the overall market capitalization reclaimed $1 trillion. The market is being driven by factors including strong technical indicators. The cryptocurrency market capitalization has grown to $1.019 trillion, with Bitcoin’s dominance rate standing at 41.6 percent. The total value of all cryptocurrencies has increased by $274 billion in the past week. On July 18, crypto traders celebrated as the overall market capitalization reclaimed $1 trillion after weeks of widespread selling following Bitcoin (BTC) price plunging below $18,000.  BTC’s Dominance chart, source: trading view Data from TradingView

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Bank-Santander-to-Offer-Crypto-Trading-to-Brazil
Bank Santander to Offer Crypto Trading to Brazil

Santander is one of the largest banks in the world. Santander has been at the forefront of blockchain and crypto adoption. Brazil’s central bank is preparing to launch its own digital currency, the Brazilian Real (BRL). Spanish banking multinational Santander plans to offer crypto trading to its clients in Brazil in the coming months, Santander Brazil CEO Mario Leao said on Thursday. The move would make Santander the first major bank to offer such services in Brazil. Leao said that the bank is “studying” the possibility of offering crypto trading to its clients, but did not give a timeline for

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Big-Brazil-Equities-Broker-Offers-BTC-and-ETH-Trading-Services
Big Brazil Equities Broker Offers BTC and ETH Trading Services

One of Brazil’s renowned equities brokers has joined the Bitcoin (BTC) revolution. XP Inc will soon offer Bitcoin (BTC) and Ethereum (ETH) crypto trading services. The offer will be available to clients from mid-August, more assets will join by 2022 end. Brazil joins the Bitcoin revolution as one of the biggest Brazilian equities brokers — XP Inc, made a huge decision. In detail, XP Inc will soon offer its customers the chance to trade Bitcoin (BTC). To highlight, it will start with 3.6 million customers in August.  To begin, the Brazilian brokerage will open its digital trading platform by initially

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Brazil’s-Nubank-Welcomes-Over-1M-Crypto-Users-Within-a-Month
Brazil’s Nubank Welcomes Over 1M Crypto Users Within a Month

Brazil’s Nubank now has over 1 million crypto users on its platform.  This influx of crypto users came in just one month after opening crypto trades on the app. More financial firms are offering crypto-driven services in the nation. Brazil continues to impress the crypto industry by making headlines. The latest of which is about its increasingly popular neobank — Nubank. To highlight, Nubank is now home to over 1 million crypto users.  This is great news for the neobank, especially since it only just launched its Bitcoin (BTC) and crypto trading services to its clients only a month ago.

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Mark-Cuban-has-warned-that-the-U.S
Mark Cuban Suspects SEC to Lay ‘Nightmare’ Token Registration Rules

Mark Cuban suspects the SEC to come up with a new crypto registration rule. Cuban’s suspicion was in regards to the enforcement action taken with the first ever crypto insider case. The Shark Tank star first slammed SEC over its enforcement-centric approach to crypto regulation in August. Shark Tank star Mark Cuban, an American billionaire entrepreneur and owner of NBA team Dallas Mavericks, forewarned his 8.7 million Twitter followers on Saturday regarding the US Securities and Exchange Commission (SEC) crypto token regulation. Last week, the SEC charged a former Coinbase manager with the first ever crypto insider case and discovered

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FOMO-Pay-to-Utilize-Ripple’s-On-Demand-Liquidity
FOMO Pay to Utilize Ripple’s On-Demand Liquidity

Ripple has announced a collaboration with FOMO pay. The collaboration is part of the company’s strategy to expand its reach in Southeast Asia. FOMO Pay’s treasury managers had to use other modes of payment in EUR and USD. Ripple has announced a collaboration with Singapore-based major payments institution FOMO Pay to use Ripple’s crypto-enabled business technology to improve its cross-border treasury flows. FOMO Pay is a Singapore-based payments institution that enables seamless cross-border treasury flows for its clients. It uses On-demand liquidity (ODL) to streamline these flows, improving efficiency and reducing costs. This partnership is a great example of how

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Traders-are-Shifting-Attention-to-the-FOMC-Decisions
Traders are Shifting Attention to the FOMC Decisions

The Fed is determined to deliver another super-sized rate hike. traders will be closely watching the FOMC meeting this week Being on the opposite side of the crowd’s expectations could prove to be beneficial. Despite an imminent technical recession in the US, the Fed is determined to deliver another super-sized rate hike when it concludes its two-day policy meeting on July 27. Traders are shifting their attention to the big FOMC decisions later in the week. Being on the opposite side of crowd expectations could prove to be beneficial, just like in previous instances. The big event this week is

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ETH Shows Mixed Signals During Consolidation
ETH Shows Mixed Signals During Consolidation

Ethereum is displaying mixed signals during its consolidation phase. However, ETH is not oversold yet, which may encourage day traders to buy in. At the time of writing, ETH is changing hands at $1,601.71, according to CoinGecko. Ethereum (ETH) continues to lead the much-needed relief rally, as it continues to establish a strong base right above the $1,500 price mark. However, a couple of signals recently appeared, causing another strong tussle between the bears and the bulls. The collective crypto market has been indecisive in the last couple of days, as Bitcoin and most altcoins are lingering longer than they

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Instagram to End Its Affiliate Program for Creators

Instagram is terminating its native affiliate-marketing cash incentive program. The social media platform has been testing the program with creators for more than a year. Instagram unveiled its Creator Marketplace, where sponsorship for creators will be allowed. Social media networking platform Instagram is shutting down its native affiliate-marketing program this August 31, a year after the company tested it. The program was launched as a part of “Meta’s buffet of monetization tools for content creators,” in June. Through this program, influencers can earn a portion of gross sales driven by tagged merchandise on Instagram posts. This isn’t the first time

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Texas GOP Aims to Enshrine Crypto in State’s Constitution
Texas GOP Aims to Enshrine Crypto in State’s Constitution

The Texas GOP is aiming to add a crypto-related amendment to the state’s constitution. The amendment would protect Texans’ right to own cryptocurrency. Critics, however, argue that digital currencies are often used for illegal purposes. The Texas GOP platform calls for the state’s Bill of Rights to include a clause allowing citizens to own, hold and use whatever medium of exchange they decide, including digital currency. The current version of the Bill of Rights does not explicitly protect the digital currency, and some members of the Texas GOP believe that this could open the door for the government to one

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Samsung-is-Working-on-New-Chip-to-Power-Efficient-Bitcoin-Mining
Samsung is Working on New Chip to Power Efficient Bitcoin Mining

Samsung’s new chip can boost efficiency for mining Bitcoin (BTC).  The chip will deliver 45% reduced power consumption.  It will be 3 nanometers in area and will be 23% more powerful. Samsung’s new chip will power a stronger and more efficient way to mine Bitcoin (BTC). In particular, the Bitcoin mining chip will be more power efficient. To be exact, it will offer 45% more power efficiency. It will also be 23% more powerful.  In detail, Samsung has begun production of its chip capable of greater Bitcoin mining power. Specifically, the chip production is using 3nm process technology with GAA

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