Posts

Meme Token Economy Suffers After Crypto Market Dip, DOGE and SHIB Market Caps Lose Billions

Image
The global cryptocurrency market valuation has rebounded a great deal since the initial downturn after 12:00 a.m. EST on December 4, and on Sunday, the crypto economy is down 1.4% during the last 24 hours. Meanwhile the meme token market capitalization today is $47.2 billion down 12.6% during the last day. Dogecoin has suffered pretty badly losing 19.2% during the last seven days, while its rival shiba inu has shed 9.7% last week. Meme Token Economy Takes the Brunt of the Crypto Market Carnage — Dogecoin Drops 19% in a Week’s Time At the time of writing, the crypto meme token market economy is valued at $47.2 billion and has taken a deep hit from yesterday’s market carnage. Dogecoin (DOGE) is the largest meme token market cap with $21.5 billion as each DOGE is trading for $0.164 or 0.00000342 BTC per unit. DOGE is down 37.7% over the course of the last month, but dogecoin is still up 4,863% year-to-date. On Sunday, December 5, there’s $1.4 billion in global DOGE trades with Binan

Bitcoin Hashrate Rises Despite Price Drop, Mystery Hashpower Returns

Image
Bitcoin’s hashrate has increased a great deal, even after the leading crypto asset’s price slipped below the $50K price zone. Eight days ago the network hashrate was coasting along at 168 exahash per second (EH/s), and this past week it increased 7.73% to today’s 181 EH/s. Bitcoin’s Hashrate Climbs Higher Following Difficulty Decrease Following the price drop under the $50K zone, Bitcoin’s ( BTC ) hashrate remains strong and has increased more than 7% higher during the last week. At the time of writing, BTC ’s hashrate on Sunday is 181.59 EH/s as the network’s processing power has been reaching daily highs. Three month statistics indicate BTC ’s hashpower tapped 190 EH/s on Friday, December 3. Metrics show that the network’s hashrate reached an all-time high on May 9, 2021 at 191.42 EH/s. One reason the hashrate remains high despite the recent price drop is because the network’s mining difficulty has dropped during the last difficulty change on November 28. The change that day sa

Crypto Conference DeFiCon 2021 to Be Hosted on December 18-19 in Brooklyn, NYC

Image
PRESS RELEASE. The next crypto conference lighting up the season is DeFiCon 2021, hosted on December 18-19 in Brooklyn, NYC. As a nonprofit conference, DeFiCon steers away from the typical corporate and for-profit conference model. All of DeFiCon’s net proceeds will be donated to charity. The event is also engages civic leaders and activists. Featured keynote speakers are Stani Kulechov, the Founder and CEO of AAVE, Jaz Gulati, the Co-Founder founder of Ren Labs, and Kieran Mesquita, Chief Scientist at RAILGUN. As a crypto native event, DeFiCon tickets are NFTs designed by the original artist of the Bored Ape Yacht Club, Seneca ( www.allseeingseneca.com ). Mint now to own the Unbearable Bear, a collection of 1,218 Bears living on the Ethereum blockchain. Then join frens in Brooklyn at DeFiCon next month on December 18-19. To mint General Admission and VIP NFT tickets, visit: www.deficon.nyc – ALL net proceeds from the event will go directly to nonprofit. Mint now   FIND DEFICON

China’s Hainan Province Ramps Up Crackdown on Crypto Mining Operations

Image
The province of Hainan in South China has taken steps aimed at curbing crypto mining activities. Besides blacklisting the industry, local authorities are also introducing higher electricity rates for the mining enterprises that continue to operate in the region. Hainan to Ensure Crypto Miners Pay More for Power The ongoing crackdown on cryptocurrency mining in China has reached the country’s smallest and southernmost province, Hainan. The coin minting business has been recently listed as an “eliminated industry” and the remaining miners in the region will soon face higher electricity bills. According to a document published this week by the provincial Development and Reform Commission, the differentiated tariffs for electrical energy will be imposed as part of a pricing mechanism designed to reduce carbon emissions. While China banned crypto-related activities such as trading back in 2017, authorities did not interfere with mining until this year. In May, the State Council in Be

Ross Ulbricht Genesis Collection NFT Auction Sees Millions of Dollars in Ethereum Bids

Image
Two days ago on December 2, the Ross Ulbricht Genesis Collection auction of non-fungible token (NFT) assets kicked off at Art Basel Miami via the Superrare platform. The Ulbricht NFT collection auction ends on December 8, and so far the auction has seen a bid of 666 ether or roughly $2.6 million. Additionally the project Pleasrdao aims to up the ante as the “Free Ross DAO” bidding on the collection has raised 1,042 ether or $4.2 million to date. Ross Ulbricht NFT Auction Eyes Millions in Ether During the third week of November, Bitcoin.com News reported on the Ross Ulbricht Genesis Collection auction taking place at the start of Art Basel in Miami . The auction was initiated on the Superrare NFT marketplace platform and the collection is an assortment of ten artworks by Ross Ulbricht. “Curated by Entoptic , this is the first and only NFT to include Ross Ulbricht’s personal work,” the announcement detailed. So far, the Ulbricht NFT collection has seen significant demand and to da

OVR and the Results of the Token Burning Program’s First Month

Image
OVR launched its new Token Burning Program on 1 November to make its own tokens more rare and valuable. The results of this first month of November saw a total of 246 thousand OVR burned. OVR and the Numbers From the Token Burning Program’s First Month OVR’s updated token economics started on November 1, 2021, after the OVR team burned nearly 1 million of its tokens last May. By the end of last month, the platform had collected a total of 615,365 OVR from its sales of OVRLand NFTs, excluding GAS costs. As anticipated, the Token Burning Program foresees that 40% of the collected OVR are burned, while 10% is used to incentivize OVRLand sales with monthly draws among new OVRLand buyers using Chainlink VRF . And indeed, for this month of November 2021, the total tokens burned amount to 246,146 OVR , while exactly 61,536 OVR have been dedicated to the OVRLand draw on Chainlink . In general, the more OVRLands purchased on Chainlink, the higher the probability of winning the jackp

Russia, Ukraine Shut Down Several Cryptocurrency Farms

Image
Authorities in Russia and Ukraine have closed down a number of illegal crypto mining facilities allegedly powered by stolen electricity. The underground farms have been discovered around the capital cities, Kyiv and Moscow, as well as in the Russian republic of Dagestan. Russia Busts Illegal Mining Farms in Moscow Region and Dagestan Russian law enforcement and customs agents have recently uncovered the theft of a large amount of electricity from the network operated by Rosseti in Moscow Oblast, the region adjacent to Russia’s capital. Tass broke the news about the operation this week, quoting Ekaterina Korotkova from the Moscow Interregional Transport Prosecutor’s Office. The official explained: An audit revealed an unauthorized connection to the power grid, theft of electricity and illegal seizure of land for the operation of equipment designed to perform cryptographic calculations related to the mining of digital currencies. The cost of the illegally consumed electricity use

Berkshire’s Charlie Munger Praises China for Banning Crypto — Wishes Crypto Had Never Been Invented

Image
Berkshire Hathaway Vice Chairman Charlie Munger, Warren Buffett’s right-hand man, says China did the right thing to “ban” cryptocurrencies, including bitcoin. He wishes that cryptocurrencies had never been invented, emphasizing that he will not participate in the crypto boom. He considers “this era even crazier than the dot-com era.” Warren Buffett’s Right Hand Man, Charlie Munger, Wishes Crypto Had Never Been Invented Berkshire Hathaway Vice Chairman Charlie Munger, often known as Warren Buffett’s right-hand man, talked about cryptocurrency Friday at the Sohn Hearts and Minds, Australia’s premier investor event. The 97-year-old previously called bitcoin “rat poison” and likened cryptocurrency trading to “trading turds.” Commenting on the current investing environment, he said: I think the dot-com boom was crazier in terms of valuations than even what we have now. But overall, I consider this era even crazier than the dot-com era. Discussing cryptocurrency, Munger said: “I just

US SEC Charges Man With Defrauding Crypto Investors in Two Digital Asset Securities Offerings

Image
The U.S. Securities and Exchange Commission (SEC) has charged a citizen of Latvia with defrauding investors in two crypto offerings. The fraudster “used fake names, fictitious entities, and fraudulent profiles to perpetrate his schemes, and misappropriated nearly all of the investor funds that were raised.” Two Fraudulent Crypto Schemes The SEC announced Thursday that it has “charged a Latvian citizen with defrauding hundreds of retail investors out of at least $7 million through two separate fraudulent digital asset securities offerings.” Noting that Ivars Auzins defrauded U.S. and foreign investors, the securities watchdog explained: Auzins allegedly used fake names, fictitious entities, and fraudulent profiles to perpetrate his schemes, and misappropriated nearly all of the investor funds that were raised. His first scheme ran from January through March 2018. “Auzins fraudulently offered and sold unregistered digital tokens as part of an ICO [initial coin offering] of Denaro

Virtual Land Adjacent to Snoop Dogg’s Sandbox Estate Sells for $450K in Ethereum

Image
The popular American rapper Snoop Dogg revealed at the end of September that he acquired land in the blockchain-based virtual metaverse The Sandbox and had plans to recreate his mansion. On December 2, The Sandbox held a “Snoopverse Land Sale,” which allowed participants to purchase land adjacent to the famous hip hop star’s virtual estate. Plot of Land Next to Snoop’s Virtual Mansion in The Sandbox Metaverse Sells for Six-Digits Two days ago, The Sandbox disclosed it was selling virtual plots of land that are located next to Snoop Dogg’s virtual property. Snoop has been a cryptocurrency advocate for quite some time and in recent days, he revealed he was a non-fungible token (NFT) whale called “Cozomo de’ Medici.” Then at the end of September, Snoop partnered with The Sandbox, a gaming ecosystem where people can create, share and monetize NFTs and gaming experiences on the Ethereum ( ETH ) network. The Sandbox blog post published on Thursday, explains that plots of land in the