⛏Samsung to start producing chips for mining
⚙️South Korean company Samsung began developing 3-nanometer chips that can be used for mining cryptocurrencies, as the technology is compatible with ASIC devices. Using the new chips will reduce power consumption by 30% and increase the speed of mining by about 15%.
https://getblock.net/en/news/samsung-to-start-producing-chips-for-mining
⚙️South Korean company Samsung began developing 3-nanometer chips that can be used for mining cryptocurrencies, as the technology is compatible with ASIC devices. Using the new chips will reduce power consumption by 30% and increase the speed of mining by about 15%.
https://getblock.net/en/news/samsung-to-start-producing-chips-for-mining
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💰El Salvador added 80 bitcoins worth $1,5 million
🗣Amid the global downturn in the cryptocurrency market, El Salvador has added 80 BTC at $19 000 for a total of $1,52 million. This was announced by the country’s president Nayib Bukele. He said that bitcoin is the future and thanked “for selling cheap.”
https://getblock.net/en/news/el-salvador-added-80-bitcoins-worth-15-million
🗣Amid the global downturn in the cryptocurrency market, El Salvador has added 80 BTC at $19 000 for a total of $1,52 million. This was announced by the country’s president Nayib Bukele. He said that bitcoin is the future and thanked “for selling cheap.”
https://getblock.net/en/news/el-salvador-added-80-bitcoins-worth-15-million
💡JPMorgan pointed to the factors of the crypto market’s imminent recovery
🤔Analysts at JPMorgan, a financial holding company, believe that the cryptocurrency market will soon hit the bottom, after which digital asset rates will begin to rise. According to experts, three factors point to this. Thus, major players, such as the FTX exchange, have begun to provide financial support to struggling companies amid the falling market. In addition, the industry is deleveraging, while venture capital investments, on the other hand, show a steady inflow — in May and June, the crypto sector attracted about $5 billion.
https://getblock.net/en/news/jpmorgan-pointed-to-the-factors-of-the-crypto-markets-imminent-recovery
🤔Analysts at JPMorgan, a financial holding company, believe that the cryptocurrency market will soon hit the bottom, after which digital asset rates will begin to rise. According to experts, three factors point to this. Thus, major players, such as the FTX exchange, have begun to provide financial support to struggling companies amid the falling market. In addition, the industry is deleveraging, while venture capital investments, on the other hand, show a steady inflow — in May and June, the crypto sector attracted about $5 billion.
https://getblock.net/en/news/jpmorgan-pointed-to-the-factors-of-the-crypto-markets-imminent-recovery
⚠️Binance to delist GRS, NAS, and GO tokens
❌Cryptocurrency exchange Binance will delist Groestlcoin (GRS), Nebulas (NAS), and GoChain (GO) tokens on July 8. The trading pairs GRS/BTC, NAS/BTC, NAS/ETH, and GO/BTC will be removed. After trading ceases in these pairs, orders will be automatically removed. Deposit of assets to the account will not be available from July 9, withdrawals will be possible until September 10, 2022.
https://getblock.net/en/news/binance-to-delist-grs-nas-and-go-tokens
❌Cryptocurrency exchange Binance will delist Groestlcoin (GRS), Nebulas (NAS), and GoChain (GO) tokens on July 8. The trading pairs GRS/BTC, NAS/BTC, NAS/ETH, and GO/BTC will be removed. After trading ceases in these pairs, orders will be automatically removed. Deposit of assets to the account will not be available from July 9, withdrawals will be possible until September 10, 2022.
https://getblock.net/en/news/binance-to-delist-grs-nas-and-go-tokens
📈Deutsche Bank analysts predicted the bitcoin rate to rise to $28 000 by the end of the year
💵Analysts at Germany’s largest bank, Deutsche Bank, believe the price of bitcoin will reach the $28 000 mark by the end of 2022. According to a report by Marion Laboure and Galina Pozdnyakova, the correlation between digital asset rates and the Nasdaq 100 and S&P 500 stock indices has been increasing since November 2021. In this, experts predict that by the end of the year, the S&P will rise to January levels, which means that the price of the first cryptocurrency could follow.
https://getblock.net/en/news/deutsche-bank-analysts-predicted-the-bitcoin-rate-to-rise-to-28-000-by-the-end-of-the-year
💵Analysts at Germany’s largest bank, Deutsche Bank, believe the price of bitcoin will reach the $28 000 mark by the end of 2022. According to a report by Marion Laboure and Galina Pozdnyakova, the correlation between digital asset rates and the Nasdaq 100 and S&P 500 stock indices has been increasing since November 2021. In this, experts predict that by the end of the year, the S&P will rise to January levels, which means that the price of the first cryptocurrency could follow.
https://getblock.net/en/news/deutsche-bank-analysts-predicted-the-bitcoin-rate-to-rise-to-28-000-by-the-end-of-the-year
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📝FATF: 70% of countries lack laws on information-sharing on crypto transactions
🔍Experts at the Financial Action Task Force (FATF) have conducted a study that found that only 29 out of 98 countries have passed laws on the information-sharing on cryptocurrency transactions, and only 11 of them have begun to supervise compliance with the rules introduced. FATF stressed that digital assets include high risks associated with terrorist financing and fraud.
https://getblock.net/en/news/fatf-70-of-countries-lack-laws-on-information-sharing-on-crypto-transactions
🔍Experts at the Financial Action Task Force (FATF) have conducted a study that found that only 29 out of 98 countries have passed laws on the information-sharing on cryptocurrency transactions, and only 11 of them have begun to supervise compliance with the rules introduced. FATF stressed that digital assets include high risks associated with terrorist financing and fraud.
https://getblock.net/en/news/fatf-70-of-countries-lack-laws-on-information-sharing-on-crypto-transactions
❗️3AC’s liquidation and first DFA deal in Russia. Main news of the crypto industry
📉Bitcoin exchange rate has declined by 6,85% over the past seven days. The highest values were reached by the asset on June 26, when 1 BTC was trading at $21 773, the lowest values were registered on June 30 — $18 743 per one coin. As of July 1, 9:40 UTC, BTC is trading at $19 463 (according to Binance).
⬇️The value of the second most capitalized cryptocurrency, Ethereum, has declined 7,23% in the past seven days to $1066. The rate of the native token of the cryptocurrency exchange Binance (BNB) has fallen by 4,43%, the asset is trading at $222.
📊The total capitalization of the crypto market decreased from $971 billion to $921 billion during the week, with bitcoin dominating 40%. Ethereum's share is 13,6%.
📃Top industry news and in-depth analysis of digital assets read in GetBlock Magazine's weekly review
📉Bitcoin exchange rate has declined by 6,85% over the past seven days. The highest values were reached by the asset on June 26, when 1 BTC was trading at $21 773, the lowest values were registered on June 30 — $18 743 per one coin. As of July 1, 9:40 UTC, BTC is trading at $19 463 (according to Binance).
⬇️The value of the second most capitalized cryptocurrency, Ethereum, has declined 7,23% in the past seven days to $1066. The rate of the native token of the cryptocurrency exchange Binance (BNB) has fallen by 4,43%, the asset is trading at $222.
📊The total capitalization of the crypto market decreased from $971 billion to $921 billion during the week, with bitcoin dominating 40%. Ethereum's share is 13,6%.
📃Top industry news and in-depth analysis of digital assets read in GetBlock Magazine's weekly review
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📉Pantera Capital CEO blamed Fed for cryptocurrency market crash
⚡️Dan Morehead, head of the cryptocurrency hedge fund Pantera Capital, blamed the US Federal Reserve System (Fed) for the collapse of the cryptocurrency market. According to Morehead, the Fed made a mistake when it kept daily rates too low for a long time. Morehead also claims that the regulator hasn't cut its significant bond holdings, allowing the market to be manipulated.
https://getblock.net/en/news/pantera-capital-ceo-blamed-fed-for-cryptocurrency-market-crash
⚡️Dan Morehead, head of the cryptocurrency hedge fund Pantera Capital, blamed the US Federal Reserve System (Fed) for the collapse of the cryptocurrency market. According to Morehead, the Fed made a mistake when it kept daily rates too low for a long time. Morehead also claims that the regulator hasn't cut its significant bond holdings, allowing the market to be manipulated.
https://getblock.net/en/news/pantera-capital-ceo-blamed-fed-for-cryptocurrency-market-crash
❌BlockFi CEO refuted $25 million company sale to FTX
🙅♂️The head of the BlockFi lending platform Zac Prince denied that his company was being bought by the cryptocurrency exchange FTX. On June 30, CNBC reported that BlockFi intended to make a $25 million deal with FTX. That's 99 percent below the platform's $4,8 billion valuation in its last funding round in 2021.
https://getblock.net/en/news/blockfi-ceo-refuted-25-million-company-sale-to-ftx
🙅♂️The head of the BlockFi lending platform Zac Prince denied that his company was being bought by the cryptocurrency exchange FTX. On June 30, CNBC reported that BlockFi intended to make a $25 million deal with FTX. That's 99 percent below the platform's $4,8 billion valuation in its last funding round in 2021.
https://getblock.net/en/news/blockfi-ceo-refuted-25-million-company-sale-to-ftx
📢FBI announced $100 000 reward for information about the founder of the OneCoin scam
🚨The US Federal Bureau of Investigation (FBI) has announced a $100 000 reward for any information about OneCoin scam project founder Ruja Ignatova. According to law enforcement officials, she is accused of conspiracy to commit fraud and money laundering, as well as the theft of $4 billion. Ignatova is also one of the FBI's top 10 most wanted fugitives.
https://getblock.net/en/news/fbi-announced-100-000-reward-for-information-about-the-founder-of-the-onecoin-scam
🚨The US Federal Bureau of Investigation (FBI) has announced a $100 000 reward for any information about OneCoin scam project founder Ruja Ignatova. According to law enforcement officials, she is accused of conspiracy to commit fraud and money laundering, as well as the theft of $4 billion. Ignatova is also one of the FBI's top 10 most wanted fugitives.
https://getblock.net/en/news/fbi-announced-100-000-reward-for-information-about-the-founder-of-the-onecoin-scam
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❌Coinbase denied selling customer data to the US authorities
🛡Cryptocurrency exchange Coinbase denied reports of selling confidential user data to the Immigration and Customs Enforcement (ICE) as part of its provision of Coinbase Tracer, an analytics software. The company assured that they do not hand over personal information about customers, adding that Coinbase’s top priority is to ensure users’ safety when using the platform.
https://getblock.net/en/news/coinbase-denied-selling-customer-data-to-the-us-authorities
🛡Cryptocurrency exchange Coinbase denied reports of selling confidential user data to the Immigration and Customs Enforcement (ICE) as part of its provision of Coinbase Tracer, an analytics software. The company assured that they do not hand over personal information about customers, adding that Coinbase’s top priority is to ensure users’ safety when using the platform.
https://getblock.net/en/news/coinbase-denied-selling-customer-data-to-the-us-authorities
⚠️Crypto analyst Justin Bennett warned of possible decline in the rates of three coins
🔮Crypto analyst and trader Justin Bennett warned of a possible decline in the value of three assets amid a falling market. He singled out bitcoin (BTC), Solana (SOL) and Ethereum (ETH). The analyst predicted the likely movement of the rates of each of them, based on the price charts.
https://getblock.net/en/news/crypto-analyst-justin-bennett-warned-of-possible-decline-in-the-rates-of-three-coins
🔮Crypto analyst and trader Justin Bennett warned of a possible decline in the value of three assets amid a falling market. He singled out bitcoin (BTC), Solana (SOL) and Ethereum (ETH). The analyst predicted the likely movement of the rates of each of them, based on the price charts.
https://getblock.net/en/news/crypto-analyst-justin-bennett-warned-of-possible-decline-in-the-rates-of-three-coins
💥 Cryptocurrency price dynamics 02.07.2022💥
Most crypto-assets in the top 10 by market capitalization are in the "red zone" today:
⬆️ Dogecoin showed the greatest growth over the day: +2.8%.
⬇️ The biggest drop over the day showed - BNB: -1.1%.
🔴 BTC - $ 19,278.19 (-1.0%)
🔴 ETH - $ 1,048.97 (-0.8%)
🔴 BNB - $ 216.71 (-1.1%)
🔴 XRP - $ 0.314507 (-1.2%)
🔴 ADA - $ 0.447620 (-0.7%)
🔴 SOL - $ 32.69 (-0.1%)
🟢 DOGE - $ 0.066922 (+2.8%)
🟢 DOT - $ 6.74 (+1.3%)
🟢 TRX - $0.065201 (+0.2%)
🔴 SHIB - $ 0.00001006 (-0.2%)
Most crypto-assets in the top 10 by market capitalization are in the "red zone" today:
⬆️ Dogecoin showed the greatest growth over the day: +2.8%.
⬇️ The biggest drop over the day showed - BNB: -1.1%.
🔴 BTC - $ 19,278.19 (-1.0%)
🔴 ETH - $ 1,048.97 (-0.8%)
🔴 BNB - $ 216.71 (-1.1%)
🔴 XRP - $ 0.314507 (-1.2%)
🔴 ADA - $ 0.447620 (-0.7%)
🔴 SOL - $ 32.69 (-0.1%)
🟢 DOGE - $ 0.066922 (+2.8%)
🟢 DOT - $ 6.74 (+1.3%)
🟢 TRX - $0.065201 (+0.2%)
🔴 SHIB - $ 0.00001006 (-0.2%)
🆘Celsius shareholder presented three plans to save the platform from bankruptcy
💻BnkToTheFuture CEO Simon Dixon has published three options for Celsius’ recovery, which would also save shareholders’ and depositors’ funds frozen by the platform “due to extreme market conditions” on June 13. Two of them involve restructuring and relaunching Celsius, another one is to raise funding from the platform’s community and large bitcoin holders.
https://getblock.net/en/news/celsius-shareholder-presented-three-plans-to-save-the-platform-from-bankruptcy
💻BnkToTheFuture CEO Simon Dixon has published three options for Celsius’ recovery, which would also save shareholders’ and depositors’ funds frozen by the platform “due to extreme market conditions” on June 13. Two of them involve restructuring and relaunching Celsius, another one is to raise funding from the platform’s community and large bitcoin holders.
https://getblock.net/en/news/celsius-shareholder-presented-three-plans-to-save-the-platform-from-bankruptcy
Bitcoin
A wedge has formed on the 4-hour timeframe. In case of its implementation upwards, bitcoin could correct again and try to rise to $22 000. In case of its implementation downwards, there is a high probability of renewal of a new local low.
The material is not an investment recommendation and is published for information purposes only. Remember: technical analysis does not guarantee successful trading, as it is based on historical data only.
https://getblock.net/en/market-analysis/btc-review-dated-02072022
#BTC #Analytics
A wedge has formed on the 4-hour timeframe. In case of its implementation upwards, bitcoin could correct again and try to rise to $22 000. In case of its implementation downwards, there is a high probability of renewal of a new local low.
The material is not an investment recommendation and is published for information purposes only. Remember: technical analysis does not guarantee successful trading, as it is based on historical data only.
https://getblock.net/en/market-analysis/btc-review-dated-02072022
#BTC #Analytics
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💭Crypto platform Ledn started talks to buy stake in BlockFi
💸Ledn, a crypto platform, has begun talks to buy a stake in BlockFi. The proposal would see Ledn lead a new funding round of up to $400 million, as well as contributing $50 million to BlockFi’s equity, Bloomberg reports, citing anonymous sources. ParaFi Capital, a venture capital firm, will also reportedly participate in the round.
https://getblock.net/en/news/crypto-platform-ledn-started-talks-to-buy-stake-in-blockfi
💸Ledn, a crypto platform, has begun talks to buy a stake in BlockFi. The proposal would see Ledn lead a new funding round of up to $400 million, as well as contributing $50 million to BlockFi’s equity, Bloomberg reports, citing anonymous sources. ParaFi Capital, a venture capital firm, will also reportedly participate in the round.
https://getblock.net/en/news/crypto-platform-ledn-started-talks-to-buy-stake-in-blockfi
⏰Crypto exchange CoinFLEX postponed the resumption of withdrawals
💻Cryptocurrency exchange CoinFLEX has postponed the resumption of customer withdrawals from the platform. The company cites ongoing negotiations with investors interested in buying the Recovery Value USD (rvUSD) token. CoinFLEX CEO Mark Lamb said that the company will present a plan to withdraw assets once the token sale is completed.
https://getblock.net/en/news/crypto-exchange-coinflex-postponed-the-resumption-of-withdrawals
💻Cryptocurrency exchange CoinFLEX has postponed the resumption of customer withdrawals from the platform. The company cites ongoing negotiations with investors interested in buying the Recovery Value USD (rvUSD) token. CoinFLEX CEO Mark Lamb said that the company will present a plan to withdraw assets once the token sale is completed.
https://getblock.net/en/news/crypto-exchange-coinflex-postponed-the-resumption-of-withdrawals
🚀DappRadar platform launched cross-chain staking of RADAR tokens
🗣DappRadar, an aggregator platform, has launched a cross-chain staking mechanism for the native tokens RADAR. According to the company’s representatives, this will reduce fees and receive the same annual interest rate for assets across all blockchains. The technology is implemented in partnership with the LayerZero protocol.
https://getblock.net/en/news/dappradar-platform-launched-cross-chain-staking-of-radar-tokens
🗣DappRadar, an aggregator platform, has launched a cross-chain staking mechanism for the native tokens RADAR. According to the company’s representatives, this will reduce fees and receive the same annual interest rate for assets across all blockchains. The technology is implemented in partnership with the LayerZero protocol.
https://getblock.net/en/news/dappradar-platform-launched-cross-chain-staking-of-radar-tokens
😱Russia ranks third in the number of crypto crimes
🇷🇺Russia ranked third in Coincub analysts’ anti-rating of countries by the number of cybercrimes related to digital assets. Experts noted that a large number of malicious ransomware is being developed in the Russian Federation. Russian hackers are believed to have created malware strains such as Conti, REvil, Ryuk, and Netwalker. The report also states that the Russian government treats locally organized hacker groups with great tolerance.
https://getblock.net/en/news/russia-ranks-third-in-the-number-of-crypto-crimes
🇷🇺Russia ranked third in Coincub analysts’ anti-rating of countries by the number of cybercrimes related to digital assets. Experts noted that a large number of malicious ransomware is being developed in the Russian Federation. Russian hackers are believed to have created malware strains such as Conti, REvil, Ryuk, and Netwalker. The report also states that the Russian government treats locally organized hacker groups with great tolerance.
https://getblock.net/en/news/russia-ranks-third-in-the-number-of-crypto-crimes
⚠️Three Arrows Capital files for bankruptcy
📃Cryptocurrency hedge fund Three Arrows Capital (3AC) has filed for bankruptcy in New York. According to Bloomberg, the filing form prevents creditors from seizing the fund’s assets in the US until liquidation proceedings in the British Virgin Islands are completed. The liquidation was ordered by the court on June 29 as part of 3AC’s insolvency case.
https://getblock.net/en/news/three-arrows-capital-files-for-bankruptcy
📃Cryptocurrency hedge fund Three Arrows Capital (3AC) has filed for bankruptcy in New York. According to Bloomberg, the filing form prevents creditors from seizing the fund’s assets in the US until liquidation proceedings in the British Virgin Islands are completed. The liquidation was ordered by the court on June 29 as part of 3AC’s insolvency case.
https://getblock.net/en/news/three-arrows-capital-files-for-bankruptcy
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⬇️NFT sales fell to a one-year low
💸In June, NFT sales volume fell to a one-year low, with about 19 000 transactions worth $13,8 million per day. According to nonfungible.com, similar figures in the non-fungible token segment were recorded in June 2021. The highest number of sales (224 768) was recorded on September 24 last year and the highest amount of transactions was on May 1, 2022: $780,4 million with 118 577 transactions.
https://getblock.net/en/news/nft-sales-fell-to-a-one-year-low
💸In June, NFT sales volume fell to a one-year low, with about 19 000 transactions worth $13,8 million per day. According to nonfungible.com, similar figures in the non-fungible token segment were recorded in June 2021. The highest number of sales (224 768) was recorded on September 24 last year and the highest amount of transactions was on May 1, 2022: $780,4 million with 118 577 transactions.
https://getblock.net/en/news/nft-sales-fell-to-a-one-year-low