Day: June 10, 2022
Business

Ethereum eyes fresh yearly lows vs. Bitcoin as bulls snub successful ‘Merge’ rehearsal

[ad_1] Ethereum's native token Ether (ETH) resumed its decline against Bitcoin (BTC) two days after a successful rehearsal of its proof-of-stake (PoS) algorithm on its longest-running testnet "Ropsten."The ETH/BTC fell by 2.5% to 0.0586 on June 10. The pair's downside move came as a part of a correction that started a day before when it reached a local peak of 0.0598, hinting at weaker bullish sentiment despite the optimistic "Merge"
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BUY/SELL

The trouble with automated market makers – Cointelegraph Magazine

[ad_1] Automated market makers are a true public good in crypto, enabling genuinely decentralized trading 24/7 and supporting the wider DeFi ecosystems. But they’re not without a host of problems, writes digital economist and academic Christos A. Makridis.The decentralized finance (DeFi) market has surged since 2021, growing from just over $20 billion to nearly $160 billion as of March 2022, compared with a rise in the total cryptocurrency market from
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Business

NFT holders can earn millions through IP rights, says Apocalyptic Apes founder

[ad_1] While the most common way to earn money in the nonfungible token (NFT) space is by flipping the tokens for profit, there are other opportunities to earn money with NFTs as the market continues to develop. In a Cointelegraph interview, Bill Starkov, the founder of Apocalyptic Apes and a Bored Ape Yacht Club (BAYC) member, talked about how NFT holders can license the intellectual property (IP) rights of the tokens.
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Business

Swedish Central bankers snipe Bitcoin mining, cite rampant energy use

[ad_1] Another day, another environmental attack on proof-of-work (PoW) mining. A report shared by the Swedish central bank argued that energy-intensive Bitcoin (BTC) and cryptocurrency mining should be banned. The Swedish central bank, known as the Riksbank, is the oldest central bank in the world. In a damning report entitled, "Cryptocurrencies and their impact on financial stability,” the bank had a crack at PoW cryptocurrency mining. PoW mining employs energy-guzzling data centers that
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Business

Bitcoin price falls under $29.5K after ‘unexpected’ 40-year high US inflation

[ad_1] Bitcoin (BTC) fell sharply on June 10 after surprisingly high inflation data from the United States rattled markets before the Wall Street open.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewTrader: Bitcoin will be "painful" if $29,300 fails to holdData from Cointelegraph Markets Pro and TradingView tracked a $600 dive for BTC/USD as May's Consumer Price Index (CPI) figures hit.Despite hopes that the worst of the inflationary period was over, May's CPI
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Business

Some crypto firms cut jobs while others aim for sustainable growth

[ad_1] To put things into perspective, since November 2021, the total market capitalization of the digital asset industry has plummeted from it’s all-time high of $3 trillion to its current levels of approx. $1.27 trillion, thus showcasing a loss ratio of over 55%.While this massive monetary downturn can be attributed to a range of factors, including the ongoing Russia-Ukraine war, rising inflation figures and worsening macroeconomic conditions have had a
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