Schlagwort: blockchain markets

Bitcoin mining has picked up again in China, a new report suggests.

According to a study by Cambridge University, Bitcoin mining activity in China has slowly surged to currently account for 21% of the total global hashrate.

The report released on Tuesday comes nearly a year after a massive Chinese crackdown on crypto mining and trading drove miners out of the country. As the exodus of miners found its way into the US and other countries, the overall hashrate securing the Bitcoin network from within China fell dramatically.

Per the report, miners have launched “covert mining operations”, the result of which is the uptick in the hashrate from virtually zero to nearly a quarter of global output.

“In China, following a sudden uptick in covert mining operations after the June 2021 government-mandated ban on Bitcoin mining, the country has re-emerged as a major mining hub,” the Cambridge Centre for Alternative Finance (CCAF) noted in its research report.

But while there’s a re-emergence of activity in the Chinese market, bringing it to second globally, the majority of computational power currently securing the Bitcoin network is in the United States.

Cheap electricity and favorable outlook across several jurisdictions mean 40% of hashrate is from US-based miners, a scenario likely to see the US top remain top of the list.

China’s 21.11% of global hashrate puts it ahead of Kazakhstan which accounts for 13.22%, Canada with 6.48%, and Russia with 4.66%.

According to data from Blockchain.com, the Bitcoin hashrate has steadily risen since the lows reached in early July 2021. The 7-day average chart shows the total network hashrate stands at 219.4 EH/s (exahashes per second).

Bitcoin currently trades around $30,030 as bulls continue to battle massive bearish pressure. 

The post China returns as second-largest Bitcoin mining hub: report appeared first on Coin Journal.

Crypto.com, a growing crypto platform, has announced that Shopify merchants will now be able to receive crypto payments from customers using Crypto.com Pay. The move gives Shopify users an expanded reach by offering customers more payment options.

Crypto.com said it shall waive the 0.5% settlement fee on all transactions that the Shopify users make for at least one month to welcome them on board. That means that Shopify merchants using Crypto.com pay will enjoy a 0% settlement fee on all crypto transactions for at least one month.

Crypto payments on Shopify

The Crypto.com pay will allow Shopify merchants to instantly receive cryptocurrency payments from the growing base of Crypto.com users at zero transaction cost.

The crypto.com Pay is an off-chain service that is accessible to Crypto.com App users around the world.

In addition to the zero transaction fees, Crypto.com also offers customers crypto-cashback pay rewards when they pay using the Cronos token (CRO), which is the native token of Crypto.com. Customers could get up to a 10% pay reward during the promotion period which will last for a month.

The integration of Shopify with Crypto.com Pay underscores the Crypto.com Pay app as a preferred cryptocurrency payment app for online merchants looking for crypto payment options.

Following the integration, the co-founder and CEO of Crypto.com, Kris Marszalek, said:

“Providing more customers and merchants the ability to engage in commerce using cryptocurrencies is a priority for Crypto.com. We are incredibly excited to integrate into Shopify, and to bring this capability to even more customers and merchants around the world.”

About Crypto.com Pay

Crypto.com Pay saves users 80% on transactions compared to the traditional payment processors. It does not charge any transaction fees other than the 0.5% settlement fee.

Secondly, users do not pay any setup costs and the integration with Shopify merchant stores only takes minutes.

When using Crypto.com Pay, customers can pay using more than 20 cryptocurrencies including BTC, ETH, CRO, DOGE, SHIB, and APE.

Commenting on the integration, the Lead of Blockchain Ecosystem at Shopify, John S. Lee, said:

“We’re happy to welcome Crypto.com to help Shopify merchants provide an additional fast and convenient way for customers to pay for their online orders. Our growing blockchain ecosystem demonstrates our commitment to supporting merchants with alternative payment methods on their storefronts, helping to further expand what’s possible in commerce.”

Since it was launched in 2018, Crypto.com Pay has been integrated on different platforms to benefit merchants. Some of the platforms that have so far integrated Crypto.com Pay include TIME Magazine, WooCommerce, Oveit, Coinzilla, and Ledger.

The post Shopify merchants can now accept crypto payments using Crypto.com Pay appeared first on Coin Journal.

Investors added to their positions during last week’s price dip, CoinShares said in their latest report.

Bitcoin funds recorded weekly inflows of nearly $300 million even as the market recoiled from the devastating collapse of Terra’s LUNA and UST.

According to CoinShares’ Digital Asset Fund Flows Weekly Report, investors bought into the price weakness, adding $299 million to Bitcoin funds.

“Bitcoin was the primary benefactor, with inflows totalling US$299m last week, suggesting investors were flocking to the relative safety of the largest digital asset. Short-Bitcoin saw minor inflows totalling US$0.7m, a slow-down from previous weeks.”

Per the report, North American investors poured $312 million into digital asset investment products, despite the terrifying crash that followed UST’s de-pegging and LUNA’s 100% crash.

Outflows over the week came in at $38 million from European investors, “where sentiment was polarized,” CoinShares wrote. 

In total, inflows into crypto investment products totaled $274 million over the last week.

While Bitcoin saw an increase in flows, Ethereum recorded outflows of $27 million. Year-to-date, Ethereum products have seen outflows of $236 million, or 2.6% of the total assets under management (AUM). Inflows into Bitcoin products stood at $463 million year-to-date last week.

Terra’s AUM fell 99%, although some investors still managed to add to positions by $0.043 million.

BTC/USD and ETH/USD

Bitcoin price is up 3.6% in the past 24 hours, currently trading near $30,750 while Ethereum’s ETH is also up 5.4% to $2,120, according to data from CoinGecko.

The post Investors poured $300 million into Bitcoin amid last week’s price weakness: CoinShares appeared first on Coin Journal.

The crypto market as a whole is bullish today. Most top 100 coins were in the green at the time of writing. 

Top cryptos

Bitcoin registered minor gains, trading above $30,000 at the time of writing. Ethereum was seen up 3%, and BNB and XRP were also up around 3% each. The biggest gainer in the top 10 is Solana. It’s up almost 5%, trading for $56. 

Cryptos outside the top 10 are all in the green at the time of publication. The most prominent gainers are Cronos and Litecoin, both up by just under 6%.

Top movers

Outside the top 20, the tendency was similar, with most coins adding 3-7% to their value. Notable standouts include Maker with 12%, IOTA and STEPN with 10% each, and Kadena with 13%. 

All of these are reversing recent losses. Kadena is launching a smartphone app in June, which could account for the rise. 

On the losing end, Arweave is down 7%, disproportionately affected by the market trend. It was the biggest top 100 gainer yesterday. Internet Computer’s ICP token is down 3%. 

TerraUSD (UST) continues to slide. It lost another fifth of its value today and is trading for 12 cents. 

LUNA rose briefly in Asian hours today, then slid back down when protocol founder Do Kwon announced a fork. He proposed a separate chain to compensate for UST’s implosion.    

Trending

The biggest winner today is Quarashi Coin, which describes itself as an all-in-one platform with several key components. These include a multichain crypto wallet, a DEX, a privacy chat, an IDO launchpad, airdrops, a browser, and even a VPN. 

Quarashi soared on news that it would complete its private chat app this month. Its token gained 2,200% in 24 h.  

The post Highlights May 17: Cryptos continue to rally appeared first on Coin Journal.

As Songbird’s lucrative token giveaway draws to a close, its value is rising exponentially. The live Songbird price today is $0.03 with a 24-hour trading volume of just over $10 million. 

Look no further than this short article for all the details about Songbird: what it is, is it worth investing in, and the best places to buy Songbird now.

Top places to buy Songbird now

Bitstamp

World’s longest-standing crypto exchange. Since 2011 Bitstamp has been providing a secure and reliable trading venue to over four million individuals and a range of institutional partners.

Buy SGB with Bitstamp today

Celsius

Celsius is proud to provide a platform of curated services that have been abandoned by big banks – things like fair interest, zero fees, and lightning quick transactions. Our goal is to disrupt the financial industry, one happy user at a time, and introduce financial freedom through crypto.

Buy SGB with Celsius today

What is Songbird?

Songbird is the token of Flare’s Canary Network, enabling trustless use of tokens on networks without smart contracts. Songbird is powered by Flare’s technology. Flare is a scalable, low carbon, low cost, highly decentralized smart contract EVM-compatible platform. 

Its native token Spark (FLR) allows Flare to unleash huge value in diverse ecosystems and blockchain communities. 

Flare’s network structure is derived from its underlying integrated networks, which makes it unique. It leverages the decentralization and security of these networks. 

Should I buy Songbird today?

Nothing can substitute doing your own research. Any investment decision you make should be based on your market expertise, your attitude to risk, and the features and spread of your portfolio. Also, consider how you would feel about losing money.  

Songbird price prediction

Analysts make mixed predictions of Songbird’s price. Wallet Investor and GOV Capital are bearish. The former forecasts a drop to $0.01 in March and to $0.007 by the end of the year. GOV Capital expects Songbird to have zero value in a year’s time.

Price Prediction and Digital Coin Price are bullish. The latter predicts it will reach $0.11 this year and $0.17 in 2025. In 2030, it expects Songbird to be worth $0.38. Price Prediction forecasts a race from $0.09 this year to $0.41 in four years. 

Songbird on social media

The next Luna 🤣 pic.twitter.com/pyWLGBj58B

— Wahyu Setiawan (@bhayuet) May 15, 2022

The post You can now buy Songbird, which gained 55% in 24 hours: here’s where appeared first on Coin Journal.