During the last bull market, which lasted for several months between 2020 and 2021, Ethereum saw its reign threatened by numerous competitors. BNB Chain (previously called Binance Smart Chain), Solana, Terra, Fantom, and Avalanche are some of the networks that sought to take dominance away from the network co-created by Vitalik Buterin. As demonstrated, many users of decentralized applications—for example, DeFi platforms or marketplaces of NFT—fell before the charms of these «Ethereum killers» (“Ethereum killers”, in English). The aforementioned networks offer fast and cheap transactions, although with less decentralization and security than Ethereum. With Ethereum congested and expensive (with fees…
Author: Crispin Castillo
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Key facts: The blackout of the equipment aims to return 1,000 megawatts of electricity to the electrical service. The heat wave affects an electrical infrastructure that works at the limit of its capacity. Bitcoin miners are playing their cards to balance high electricity demand in Texas, United States, where a heat wave has pushed them to turn off their ASIC equipment. The authorities estimate that, as the temperature increases, the electricity demand could collapse the system. Three companies that operate mining farms in the Lone Star State have already issued statements: Core Scientific, Riot Blockchain Inc. and Argo Blockchain Plc.…
The price of bitcoin (BTC) fell to the level of USD 19,000 after spending 7 days without touching this range. After hitting a 25-day high of $22,300 last week, the cryptocurrency has started to depreciate as the dollar strengthens against the euro. The fall of bitcoin to the level of USD 19,000 occurs at the same time as the historic loss of value of the European currency.. The euro, which for the past 20 years was valued more than the dollar, is currently trading at 1:1 to the US currency. This scenario reflects the collapse of the macroeconomic context as…
The joy of receiving free tokens, apparently from the Uniswap decentralized exchange, was short-lived for the “lucky” winners of the air drop. It is that, when they wanted to exchange them for other cryptocurrencies, in reality —without knowing it— they gave control of their wallets to fraudsters. Due to the fact, several thefts are reported, specifically of non-fungible tokens (NFT) that were housed in Ethereum wallets of the victims. “This was an attack by phishing which resulted in some NFTs being taken from people who approved malicious transactions,” explained Hayden Adams, founder of Uniswap. The computer clarifies that it was…
Key facts: Bitcoin’s bearish cycle has about three months left, says “Trading Latino”. For December there could be an increase in its price, but before that it could drop even more. The bearish cycle of bitcoin (BTC) would have three months left and, after this period of time, its price will begin to rise. This is how market analyst Jaime Merino, known on social networks as Trading Latino, thinks, who expressed his vision to CriptoNoticias. “The bearish period is about to end. Normally, in bitcoin the cycles are getting shorter and shorter, and this bearish cycle I think is about…
The holders of bitcoin (BTC) and other cryptocurrencies, residing in Spain, are preparing for what is to come, now that the local Tax Agency is determined to know in detail the operations they carry out. As part of this, many will present arguments with the idea of stopping the bitcoin proposal, which has inconsistencies. The Ministry of Finance already issued last week, in a public hearing, a draft Royal Decree that is open to allegations. Is about a whole framework of obligations to report on the holding of cryptocurrencies in Spain, and includes the informative models 172, 173 and 721…
The European Central Bank (ECB) criticized the mining of Bitcoin and other assets that involve energy consumption. According to the European body, representative of the fiat system, the Proof-of-Work (PoW) consensus mechanism uses “disproportionate energy” that collides with the climate objectives of governments. In the 18th delivery of the ECB macroprudential bulletin published this July, analysts from the European financial institution maintain that Bitcoin mining translates as a “climate transition risk for the financial sector”, product of the “significant carbon footprint of certain cryptoactives” such as bitcoin (BTC). “The operation of certain cryptocurrencies (such as bitcoin) uses a disproportionate amount…
The bitcoin (BTC) market, stocks and gold are showing increasingly red numbers as investors flee to the US dollar. The US dollar hit its highest value in 20 years against the euro last week. This milestone occurs at the same time as the ounce of gold it fell at $1,737, its lowest level in 10 months since September last year. And it is expected that it may continue to decline, according to the predictions of the specialists. The price of gold registers its lowest price in 10 months in July 2022. Font: gold price. Given the bearishness of the markets…
The Financial Stability Board (FSB), an international body that monitors and makes recommendations to the Group of 20 (G20) nations on the global financial system, released a new warning about crypto assets, but this time with greater emphasis on stable cryptocurrencies or stablecoins. The organization believes that these types of cryptocurrencies must be “captured by strong regulations and supervision by the relevant authorities.” This, in case they are going to be adopted as a means of mass payment, since that would give them an important role in the world financial system. If widespread use of stablecoins is achieved in the…