Beiträge

Veröffentlicht am

Iranian authorities ask miners to halt mining activities again – Here’s why

The Iranian government is worried some regions in the country may suffer blackouts when energy needs become high during the winter months

Iranian authorities have once again instructed authorised cryptocurrency mining companies to break off mining operations in the country, according to a report by the Islamic Republic of Iran Broadcasting. Energy needs shoot up significantly during the cold months, and the government contends that cutting down on energy consumption is the best approach to avoid deficits.

Iran’s Power Generation, Distribution, and Transmission firm Tavanir fears that, if not halted, the mining operations will lead to blackouts during the winter season. The company has also implemented other measures outside crypto mining.

“The Energy Ministry has been implementing measures since last month to reduce the use of liquid fuels in power plants, including cutting licensed crypto farms’ power supply, turning off lampposts in less risky areas and stringent supervision of consumption,” Mostafa Rajabi Mashhadi, Tavanir’s managing director and chairman of the board said.

The measures are akin to those taken during summer

This is not the first time local energy authorities have resorted to this measure. In May, Tehran officials ordered mining farms in the region to suspend their operations amidst similar concerns –insufficient supply and high demand for electricity. The licensed were allowed to recommence their activities in September when authorities felt that the power grid was stable because of decreased energy consumption.

The Grid Management Company hopes that it will save energy for the coming months characterised by low temperatures. Mashhadi reiterated that it was crucial to curtail energy consumption and appealed to locals to cut on their gas and electric use. The measures will potentially benefit the country as estimates show they will lower energy consumption by over 40%.

Illegal crypto miners are a menace

Iran contributes 4.5% to 7% of the world’s Bitcoin hash rate, making it one of the biggest crypto mining nations. The previous suspension of mining between May and September was met with negative feedback by the crypto mining community. The apple of discord was that authorised miners use up about 300 MW – 10x less the figure (3,000 MW) consumed by illegal miners

The war waged on illegal crypto miners by the Iranian government is far from over as local authorities are still hunting and shutting down these illegal operations. At the end of last month, the authorities confirmed that they had confiscated more than 220,000 mining equipment. Nearly 6,000 illegal crypto farms in the country were also closed down, with their operators subsequently being charged.

The post Iranian authorities ask miners to halt mining activities again – Here’s why appeared first on Coin Journal.

Veröffentlicht am

Where to buy Uniswap, which gained almost 14% today after whales bought the dip

As more and more large-scale investors bought the dip, coins like CRO and Uniswap began rising again. The live Uniswap price today is just under $20. Uniswap is up 13.68% in the last 24 hours. This quick guide explains what Uniswap is, if you should buy it, and the best places to do that if you choose.  

Top places to buy Uniswap now

eToro

eToro is one of the world’s leading multi-asset trading platforms offering some of the lowest commission and fee rates in the industry. It’s social copy trading features make it a great choice for those getting started.

Buy UNI with eToro today

CAPEX

CAPEX.com is an awarded fintech brand, globally recognized for a strong presence in shaping the future of trading. The company focuses on making the markets more accessible & transforming the way people trade online.

Buy UNI with CAPEX today

What is Uniswap?

Uniswap is a popular decentralized trading protocol, known for its role in facilitating automated trading of decentralized finance (DeFi) tokens. An example of an automated market maker (AMM), Uniswap launched in November 2018, but has gained considerable popularity this year thanks to the DeFi phenomenon and associated surge in token trading.

Uniswap aims to keep token trading automated and completely open to anyone who holds tokens, while improving the efficiency of trading versus that on traditional exchanges.

Uniswap creates more efficiency by solving liquidity issues with automated solutions, avoiding the problems which plagued the first decentralized exchanges.

Should I buy Uniswap today?

Uniswap is very volatile like most cryptos. It sustained a long bear run recently and is beginning to regain value only now. Exercise great caution when making any decision that affects your finances. 

Uniswap price prediction

CoinQuora’s bearish market price prediction for 2021 for Uniswap was $14. In light of the current bullish trend, they believe it will reach $70 by the end of next year, even $75 in the first six months of 2022. Then the rise will taper off, but without major falls. In 2023, the price of Uniswap can go up to as much as $85.

Uniswap on social media

The post Where to buy Uniswap, which gained almost 14% today after whales bought the dip appeared first on Coin Journal.

Veröffentlicht am

Where to buy Polkadot, the foundation protocol of Web 3.0

Polkadot is the tenth-largest cryptocurrency by market cap. It’s changing hands for $31.47 today with a 24-hour trading volume of $1.75 billion. Polkadot is one of the biggest top 10 winners with value growth of 7.33% in the last 24 hours. If you’re interested in unique features and want to know more about Polkadot, we wrote this guide just for you.

Top places to buy Polkadot now

eToro

eToro is one of the world’s leading multi-asset trading platforms offering some of the lowest commission and fee rates in the industry. It’s social copy trading features make it a great choice for those getting started.

Buy DOT with eToro today

Capital.com

Capital.com offers investors an award winning trading platform that can access multiple financial markets including the new and exciting cryptocurrency market.

Buy DOT with Capital.com today

What is Polkadot?

Polkadot is an open-source sharded multichain protocol that connects and secures a network of specialized blockchains, facilitating cross-chain transfer of any data or asset types, not just tokens, thereby allowing blockchains to be interoperable with each other. Polkadot was designed to provide a foundation for a decentralized internet of blockchains, also known as Web3.

Polkadot is known as a layer-0 metaprotocol because it underlies and describes a format for a network of layer 1 blockchains known as parachains (parallel chains). As a metaprotocol, Polkadot is also capable of autonomously and forklessly updating its own codebase via on-chain governance according to the will of its token holder community.

Polkadot provides a foundation to support a decentralized web, controlled by its users, and to simplify the creation of new applications, institutions and services.

Should I buy Polkadot today?

Never make any investment decisions lightly. Read analyses and price predictions and take all recommendations with a grain of salt.  

Polkadot price prediction

The DOT coin price prediction from Wallet Investor was bearish for the short-term, predicting that the price could average $25.73 by the start of 2022. Apparently, they were mistaken. Looking further ahead, they predicted it would climb to $51.4 by the end of 2022 and $129 by the end of 2025.

DigitalCoin’s Polkadot prediction estimated that the coin price could average $41.7 in 2022 and rise to $43.6 in 2023 and $52 in 2025. By 2028, DigitalCoin predicted DOT could trade at an average price of $114 with a peak at $119, Capital wrote.  

Polkadot on social media

The post Where to buy Polkadot, the foundation protocol of Web 3.0 appeared first on Coin Journal.

Veröffentlicht am

Tezos (XTZ) reverses downtrend to establish bullish momentum – is it time to buy?

Tezos (XTZ) has seen a short-term decline over the last few months. The coin had in fact plummeted nearly 60% and was trading just around its bottom support of $3.85. But it seems Tezos (XTZ) has broken the downtrend, and after consolidating, the coin has surged over the last few days. But can it hold this momentum, and for how long? First, here are some important highlights:

  • After plummeting nearly 60%, Tezos (XTZ) has been surging in recent days. The coin was trading at $4.90 at the time of writing.

  • The daily Relative Strength Index or RSI also shows the coin on the neutral zone, suggesting buyer activity could start to pick up.

  • Tezos (XTZ) has managed to surge beyond its previous overhead resistance of $4.54, an indication a bullish uptrend is on.

Data source: Tradingview.com 

Tezos (XTZ) – price action and analysis

Like many altcoins in the wider crypto market, Tezos (XTZ) has seen incredible declines in December. Just recently, the coin had tanked, trading around its lower support of $3.85. This was nearly 60% in lost value. It was the ideal dip to buy, and we started to see some consolidation around that price. 

But right now, Tezos (XTZ) has broken the downtrend and reversed towards a bullish momentum. The coin breezed past its $4.54 overhead resistance, and some analysts see it hitting $5.8 in the near term. However, despite these gains, the coin is still lower than its 50-, 100-, and 200-day exponential moving averages.

Should you buy Tezos (XTZ)

Tezos (XTZ) is a great asset to buy for people looking to invest in alternative blockchain networks. The fundamentals of the coin are positive. However, it may take a bit longer for Tezos (XTZ) to deliver its full value. If you decide to invest in it, expect wild short-term volatility, but eventually, long-term gains will be realised.

The post Tezos (XTZ) reverses downtrend to establish bullish momentum – is it time to buy? appeared first on Coin Journal.

Veröffentlicht am

Shiba Inu (SHIB) looks poised for a 40% bullish breakout – price analysis and prediction

Shiba Inu (SHIB) looks set for a significant bullish breakout in the coming days with estimates showing the meme coin could surge above 40%. The coin has been one of the most incredible performers this year. Although it’s still way lower compared to all-time highs in 2021, a whole lot more could still come from SHIB. Here is what we know thus far:

  • Shiba Inu has shown some commendable bullish alignment in all technical indictors and could surge over 40% in a few days.

  • The meme coin will however need to overcome overhead resistance at around $0.00003902.

  • But as with many meme coins, any negative sentiment on the crypto market could weigh heavily on any possible gains.

Data Source: Tradingview.com 

Shiba Inu (SHIB) – price action and analysis

Despite reporting massive growth this year, SHIB has had several corrections in the last few months. After hitting monthly highs of $0.00005435 in November, the coin has seen a sharp decline, losing nearly 50% of its value since then. The meme coin is however looking good but is facing stiff resistance at $0.00003902. 

At the time of writing, SHIB was trading slightly below that at $0.00003808, up 2% in intraday trading. Analysts feel that if the coin surges above the overhead resistance, then we are likely to see a sharp bullish uptrend in the near term. Also, we are watching to see if SHIB can recapture its 50-day moving average of $0.00004099.

Should you buy Shiba Inu (SHIB)

Meme coins are speculative assets and can be prone to wild volatility. So, they are not supposed to be held for a long time. In case you want to ride the short-term gains on SHIB before selling it, then this is the perfect time to buy. But for long-term value investing, SHIB is probably not for you.

The post Shiba Inu (SHIB) looks poised for a 40% bullish breakout – price analysis and prediction appeared first on Coin Journal.