Blockchain 

Ethereum’s Hearthstone Rival Sets Volume Record After Blizzard Scandal

Ethereum (ETH) based trading card game Gods Unchained has far outstripped CryptoKitties by volume after a censorship scandal involving game-developer Blizzard. As blockchain research platform Coin Metrics noted on Nov. 12, the past month has seen activity explode for the game, with interest dwarfing that of CryptoKitties at its 2017 peak. Data: Gods Unchained volume five times higher In terms of daily transfers of its non-fungible tokens (NFTs), Gods Unchained was recording almost 500,000 such transfers per day at the end of last week. By contrast, even at the height…

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Bitcoin 

Argentina Sets New Trading Record After Central Bank Bans Bitcoin Buys

Bitcoin (BTC) trading set new records in two of its most keenly watched South American markets last week, new data has revealed. As monitoring resource Coin Dance confirmed on Nov. 10, the seven days ending Saturday saw more trading against BTC than ever before in both Venezuela and Argentina.  Argentina: central bank accidentally increases Bitcoin popularity Venezuela Localbitcoins weekly trading history. Source: Coin Dance Argentina Localbitcoins weekly trading history. Source: Coin Dance The statistics cover peer-to-peer platform Localbitcoins, which despite increasing user identification demands continues to see patronage in the…

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Bitcoin 

Bakkt Set to Smash Bitcoin Trading Volume Record in November

Bitcoin (BTC) futures trading on the Intercontinental Exchange Bakkt platform is seeing a considerable rise in average daily volume so far this month compared to September and most of October. Volumes yesterday, Nov. 5, hit close to their all-time-high — with 1061 traded contracts worth $10 million, a 96% increase over the previous day. According to tracking data compiled by Twitter account Bakkt Volume Bot (@BakktBot) — which is not affiliated with Bakkt but rather with a Dutch journalist and crypto author Gert-Jan Lasterie — the platform had posted its…

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Bitcoin 

Bitcoin Price Chart Now Looks ‘Ridiculous’ After Record Gains: Analyst

Bitcoin (BTC) held above $9,000 on Oct. 28 as a weekend of bullish madness continued to captivate markets. Cryptocurrency market daily overview. Source: Coin360 Bitcoin price mulls next move amid $8.8K warning Data from Coin360 showed volatility remaining elevated for Bitcoin on Monday, with swings between $9,100 and $9,900 characterizing the past 24 hours.  On Friday, news that China was officially embracing blockchain technology appeared to reawaken enthusiasm across cryptocurrency markets. After trailing at $7,400 for several days, BTC/USD suddenly exploded, hitting local highs of nearly $10,500 early Saturday morning.…

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Bitcoin 

Bitcoin Hash Rate Record Highs Show Miners Are Long-Term Bullish

Bitcoin (BTC) continues to set new records for its network hash rate this month, a sign that miners have shaken off weak price performance. Hash rate hits all-time highs in October Data from monitoring resource Blockchain confirmed hash rate hit 114 quintillion hashes per second on Oct. 23.  Bitcoin network hash rate (12 months). Source: Blockchain This is the largest reading ever and echoed by others such as BitInfoCharts, which recorded an all-time high of just over 110 quintillion at the same time. Coin Dance numbers put the all-time high…

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Bitcoin 

Binance Futures Bucks ‘Dismal’ Volume Trend — Trades a Record $700M

Binance’s Bitcoin futures product is the only winner in a lackluster market this week as trading volume hits local lows.  Research highlights “very low” activity Analysis of various platforms’ trading volumes by exchange eToro’s senior market strategist Mati Greenspan on Oct. 15 revealed cryptocurrency markets had all but bottomed out in terms of activity. From a peak of around $4 billion per day several months ago, Bitcoin (BTC) now sees less than $200 million change hands, he said referencing data from research outlet Messari. Other players told a similar story,…

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Blockchain 

Q3 Saw Record High Inflows, Growing Institutional Interest

Digital asset management giant Grayscale registered over $254 million in total investment into its products in the third quarter of 2019. In its Digital Asset Investment Report for Q3 2019, Grayscale provided details on the inflows into its products for the period from July 1, 2019 through Sept. 30, 2019. The third quarter of the year marked the highest demand for the company’s offerings since its establishment, resulting in $254.9 million of inflows. The figure shows a threefold quarter-on-quarter increase, from $84.8 million last quarter. The quarterly inflows into Grayscale…

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Bitcoin 

New Bitcoin Trading Record as Biggest Bank Embraces Petro

Venezuela’s largest bank, Bank of Venezuela (BDV), has added support for the country’s controversial Petro digital currency.  Bank of Venezuela hints at crypto wallet As cryptocurrency news outlet Decrypt reports on Sept. 13, BDV clients have discovered a new section in their online banking account dedicated to cryptocurrencies.  At present, the publication states, the only crypto wallet only caters to Petro, but as the section appears under development, speculation suggests more tokens may follow. Petro, launched by the Venezuelan government, is notionally pegged to the country’s oil reserves. The subject…

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Bitcoin 

Bitcoin Hit Record Inverse Correlation to Chinese Yuan in Past Week

Bitcoin price has seen a record inverse correlation with the Chinese yuan (CNY) this week, according to an analysis from Bloomberg on Sept. 6. This suggests that investors are using the digital currency as a hedge against the yuan’s falling value. Bitcoin/CNY correlation chart. Source: Bloomberg  Weakening yuan causes price premium on bitcoin in China Further evidence that Bitcoin is being used as a hedge in China can be seen in the higher prices being paid in local exchanges when the yuan fell. According to London School of Economics researcher,…

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Bitcoin 

Bitcoin Is Using Less Energy Despite Record Hash Rate, New Data Shows

Bitcoin (BTC) energy consumption is becoming rapidly more efficient, new data shows as hash rate continues to hit record highs. Record hash rate with less power Data from aggregator Statista accessed on Sept. 5 showed that despite more computing power being dedicated to Bitcoin mining, less electricity is required to fuel it.  According to one chart, energy consumption as of July was 69.79 terawatt hours per year. In July 2018, the figure was 71.12 terawatts, while hash rate was almost 60% lower than at present.  Bitcoin annual electricity consumption. Source:…

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