Cryptocurrency Market

Bitcoin plunges to $52,000 as $7.6 billion in crypto long positions liquidated

Bitcoin plunges to $52,000 as $7.6 billion in crypto long positions liquidated

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$7.6 billion in crypto long positions have been liquidated over the past hour as bitcoin’s price plunged to $52,000, data from bybt.com shows. Bitcoin’s price began to trend downwards early Saturday, but the steep plunge began around 3:00 UTC on Sunday.  Bitcoin’s price dropped by more than 10% over the past hour, from $58,000 to …

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Creator of hit NFT project NBA Top Shot poised to net $250 million in round led by $25 billion firm

NFT platform development startup Dapper Labs valued at $7.5 billion

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Dapper Labs, the NFT development platform behind NBA Top Shot, is raising money at a $7.5 billion valuation in a round led by Coatue Management, according to the tech news publication The Information.  The three-year-old Dapper Labs had just completed a $305 million funding round on March 30, which valued Dapper at $2.6 billion. That …

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Bitcoin mining chipmaker TSMC to invest $100 billion over three years to grow its capacity

China coal mine accidents may be behind bitcoin’s hash rate drop

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Recent security incidents in several coal mines in China appear to have had a ripple effect on bitcoin’s mining hash rate. Over the past two weeks, there have been three security accidents in coal mines in China’s Shanxi, Guizhou and Xinjiang provinces due to gas explosion and flooding, according to Chinese state media Xinhua. The …

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Why Bitcoin's price rally is killing the buzz of NFT tokens CHZ, ENJ, FLOW

Why Bitcoin’s price rally is killing the buzz of NFT tokens CHZ, ENJ, FLOW

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Bitcoin’s latest price rally may be short-lived according to on-chain analysis and increasing selling pressure across exchanges. However, altcoins in the top-50 are well above their average prices over the past week, especially in light of the increasing demand on spot exchanges. Among these rallying alts, NFT tokens have done extremely well too. Ergo, the …

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Why the Danish Red Cross put a volcano catastrophe bond on a blockchain

Why the Danish Red Cross put a volcano catastrophe bond on a blockchain

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Quick Take The Danish Red Cross has teamed up with blockchain startup Replexus to issue the first-ever blockchain-based catastrophe bond. So-called cat bonds let the relief organization raise money that can be spent immediately in the event of a disaster. But why does the bond need a blockchain? This feature story is available to subscribers …

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Filmmaker Kevin Smith to release new horror anthology as NFT

Filmmaker Kevin Smith to release new horror anthology as NFT

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Filmmaker Kevin Smith is releasing his latest horror anthology “Killroy Was Here” as a non-fungible token (NFT).  As first reported by Deadline, Smith will auction off his work on Jay and Silent Bob’s Crypto Studio, an independent crypto gallery with its own dedicated Web address. The buyer will obtain the rights to showcase, distribute and …

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Binance Coin, THETA, Verge Price Analysis: 13 April

Binance Coin, THETA, Verge Price Analysis: 13 April

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Binance Coin needs to overcome some selling pressure before resuming its uptrend. THETA projected movement within a tight channel of $13.8-$11.2. Finally, Verge could see a breakout from a descending channel before the price approaches its 200-SMA. Binance Coin [BNB] Source: BNB/USD on TradingView Binance Coin successfully captured the level above $600 and even formed …

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Nvidia estimates $150 million in revenue from new crypto mining product in Q1 of 2022 fiscal year

Nvidia estimates $150 million in revenue from new crypto mining product in Q1 of 2022 fiscal year

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Computing hardware maker Nvidia is projecting as much as $150 million in revenue for its crypto mining-specific product line during the first quarter of the firm’s 2022 fiscal year. The $150 million revenue estimate was included in an April 12 release, which came months after the firm confirmed that it would produce and sell so-called …

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