Category Archives: Cryptocurrency
Cryptocurrency Prices on June 4: Bitcoin, Ethereum, Dogecoin and more – Moneycontrol.com
Dogecoin fell more than 7 percent in the previous 24 hours. 'Internet Computer' rose over 11.87 percent during the same period.
June 04, 2021 / 07:42 AM IST
Bitcoin, Ethereum, and other major cryptocurrencies were trading mixed, with volatilitypersistingin the market.
Many cryptocurrency firms are not meeting Britain's anti-money laundering and counter-terrorism financing rules, the United Kingdom's financial watchdog said on June3, showing how some parts of the emerging sector are struggling to meet required standards.
Meanwhile,a Standard Chartered unit intends to establish a cryptocurrency brokerage and exchange platform in Britain and Europe, targeting institutional clients, the bank said on June 2.
The new exchange will be created by a joint venture between SC Ventures, the bank's innovation arm, and BC Technology Group, which operates Hong Kong-licensed cryptocurrency exchange OSL.
Here are the prices of the 10 largest cryptocurrencies at7.30 am IST onJune4 (data fromcoinmarketcap.com)
> Bitcoin: $37,837.15 (+1.31 percent)
> Ethereum: $2,736.73 (+2.40 percent)
> Tether: $1.00 (+0.05 percent)
> Binance Coin: $406.72 (+1.95 percent)
> Cardano: $1.73 (+0.78 percent)
> Dogecoin: $0.3807 (-7.31 percent)
> XRP: $0.9885 (-1.99 percent)
> USD Coin: $1.00 (+0.01 percent)
> Polkadot: $25.27 (-2.23 percent)
> Internet Computer :$117.74 (+11.87 percent)
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Cryptocurrency Prices on June 4: Bitcoin, Ethereum, Dogecoin and more - Moneycontrol.com
Cryptocurrency latest news today: Trading in virtual currencies? RBI has this important update for you | Ch… – Zee Business
Cryptocurrency craze have grown by leaps and bounds in the recent years. It all has to do with exceptional returns that these coins have generated for its investors in the quickest times possible and success stories attached to them. In India, there were apprehensions as far as trading in cryptocurrencies were concerned. This doubt found its root in Reserve Bank of India (RBI) 2018 circular that barred banks and financial institutions from indulging in business with crypto exchanges. However, the Reserve Bank of India recently came up with clarifications and asked these financial institutions, including banks, not to cite its old circular. Well, the RBI had to come up with clarifications as the Supreme Court hadstruck down RBI order in 2020, and these institutions were still citing its old order, warning their customers against trading in cryptocurrency.
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Meanwhile, reiterating its position, the RBI said it maintains the same stance what it said in 2018. Reserve Bank of India Governor Shaktikanta Das continues to have major concerns about cryptocurrencies and the same has been conveyed to the government. "There has been no change in its position on virtual currencies," said Das during a press conference to announce outcomes of monetary policy committee (MPC) meeting.
As on why the RBI had to come out with the clarification when it maintained the same position on digital coins, RBI Governor said, " We wanted to set the record straight that the circular has been made invalid. Our circular clarifies our position very clearly that the Supreme Court had set aside our 2018 circular. It came to our surprise that banks were citing the old circular in correspondence with customers," said the RBI Governor.
Meanwhile, top cryptocurrencies, including Bitcoin, were seen making recovery after the market nearly corrected around 8 percent on Friday, as per CoinSwitch data. The global crypto market was up 4 per centat 12 pm on Saturday.
Bitcoin has seen a bounce back and was up 2 per cent after recovering over 2 per cent. It was trading for Rs 29,20,022. Dogecoin was also trading in green and has gained nearly 3 percent. Dogecoin priceat 12 pmwas Rs 30.12. Number 2 coin, Ethereum, also trading above 5 per cent at Rs 2,15,273. Popular meme coin Shiba Inu was trading at Rs 0.000694, up 2.81 per cent showed Wazirx daily chart.
Cryptocurrency Ban: Unworkable and Unwise – The Wall Street Journal
Regarding Lee Reinerss Ban Cryptocurrency to Fight Ransomware (op-ed, May 26): Emulating the Chinese governments approach to cryptocurrencies is misguided, impractical and un-American. As Mr. Reiners concedes, banning anything runs counter to the American ethos, a statement that encapsulates the open approach to new technology that we, as a country, have often pursued. While it is unfortunate that Mr. Reinerss proposed ban mimics the Chinese approach, it is also technically impossible. Open blockchain networks run on open-source software, meaning the government couldnt enforce a ban on digital assets without shutting down the entire internet. We doubt such a solution would have much of a durable constituency on Capitol Hill or in the White House.
Indeed, what sort of signal would banning this censorship-resistant financial system send to the billions of people living under authoritarian regimes? One timely example undermines Mr. Reinerss assertion that cryptocurrencies are used only by speculators and criminals. According to the Human Rights Foundation, Belarusians have used bitcoin to defy Alexander Lukashenkos regime by sending more than $3 million in unstoppable money directly to striking workers, who then convert it to local currency in peer-to-peer marketplaces, helping to support protests against the countrys dictatorship.
Another more local example shouldnt escape our view: Mr. Reinerss Global Financial Markets Center openly solicited, until May 26, donations in several cryptocurrencies. If a well-regarded think tank focused on the future of the worlds financial systems deems crypto donations worthy, perhaps Mr. Reiners should look closer to home for worthwhile use cases.
Kristin Smith
Executive Director
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Cryptocurrency Ban: Unworkable and Unwise - The Wall Street Journal
The Daymak Spiritus Is the Worlds First EV That Mines Cryptocurrency – Robb Report
While the auto industry is still working on perfecting self-driving cars, one marque is high-tailing it toward self-mining cars. Canadian outfit Daymak has just announced its building the worlds first automobile that can mine cryptocurrency.
The new light electric vehicle (LEV), dubbed the Spiritus, will be equipped with high-tech mining hardware and blockchain technology that will allow it to mine all kinds of crypto, from Bitcoin to Dogecoin, while its charging.
For those unversed in crypto lingo, mining is a way of earning cryptocurrencies by solving cryptographic equations and algorithms through computers. You can mine via any computer, including the one onboard this pioneering ride.
The Spiritus mines all kinds of crypto, from bitcoin to dogecoin, while its charging.Daymak
The Spiritus will include a GPU (processor) that supports a patent-pending system known as the Daymak Nebula. The Nebula comprises a miner that collects the coins and a digital wallet that stores them for future use. Naturally, theres also an app that displays all the crypto info on your smartphone.
We envision a future where your highway tolls, your parking and your drive-thru order will be paid directly on the fly with crypto. Your online bills and your banking can be handled through the same software platform paid in crypto, Daymak president Aldo Baiocchi said in a statement. And whereas most vehicles are depreciating while they sit in your garage, the Nebula Miner will make you money while your Spiritus is parked.
The Nebula Miner can collect the coins using solar power.Daymak
According to the automaker, the emissions-free daily driver is also fitted with solar panels, which means the mining could be carried out using renewable energy rather than traditional fossil fuels. Recently, there has been some criticism regarding the environmental cost of mining crypto, but using solar power prevents all of that.
As for the car itself, it has a decidedly futuristic aesthetic with sleek lines and a sculpted rear end. Though it only has three wheels, its certainly no slouch. The range-topping Ultimate model features an 80 kWh battery that delivers up to 150 hp. Daymak says this allows the svelte two-seater to go from zero to 60 in a breakneck 1.8 seconds and reach a top speed in excess of 130 mph. The company also claims the car can cover some 300 miles and charge in under two hours.
You can access the Nebula Wallet and crypto info via your smartphone.Daymak
The Spiritus is the fifth model in Daymaks Avvenire Series. This line-up includes everything from e-bikes to electric flying vehicles and has already garnered more than $350 million in pre-orders in less than two months. The Spiritus, which is expected to launch in 2023, has received more than 4,000 pre-orders so far.
As for price, the base Deluxe model starts at around $20,000 while the luxe carbon-fiber Ultimate version will set you back $149,000, but, hey, it might just pay for itself.
Check out more images of the car below:
Daymak
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The Daymak Spiritus Is the Worlds First EV That Mines Cryptocurrency - Robb Report
Top Cryptocurrency Prices Today: Bitcoin, Ether slip; Dogecoin tanks 13% – Economic Times
New Delhi: Major Cryptocurrencies slipped back into the red after a brief recovery as of 10.45 am (IST). Investors took some money off the table from recent gainers such as Dogecoin and Polkadot, which were down up to 13 per cent at that point.
Tesla boss Elon Musk tweeted late Thursday hinting at a breakup with bitcoin, spooking investor sentiment. Bitcoin and Ether slipped over 3 per cent, but recovered half of the losses later.Musk has been a major promoter of cryptocurrencies, but has of later turned critical of bitcoin because of its immense energy use.Despite speculative action in 'meme' equity counters, pushing them to new highs, the crytpo market is lagging behind. However, the performance of meme-based digital tokens, like Dogecoin, has improved, though the upside remains limited.
"The king pair of Bitcoin and Ethereum are slowly yet steadily moving out of their consolidation phase. It is a good sign for the markets as most of the other Altcoins tend to follow the price movements of bitcoin and Ether," Edul Patel, CEO and Co-founder, Mudrex. "The major decline came from Dogecoin, as it finally shed its steam after three days of a fierce uptrend. This correction in DOGE was imminent. The coming week is poised to be interesting for the cryptocurrency market," he said.
ZebPay Trade Desk's Tech ViewThis week the top 3 assets by market capitalization -- Bitcoin, Ethereum and BNB -- have seen a recovery. BTC has now started its journey upward, trading between $36,000 and $39,500. This week, the asset saw a rise of 10% and hit $39,000 level.
Time is in UTC and the daily time frame is 12:00 AM - 12: 00 PM UTC(Views and recommendations given in this section are the analysts' own and do not represent those of ETMarkets.com. Please consult your financial adviser before taking any position in the asset/s mentioned.)
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Top Cryptocurrency Prices Today: Bitcoin, Ether slip; Dogecoin tanks 13% - Economic Times
Infowars Article
Institutions may have been selling ahead of todays crypto rout, asJPM noted earlier
but as following chart of bitcoins historical drawdowns clearly shows
they will soon turn from sellers to buyers as bitcoins historical trading pattern clearly shows that every single previous dump has been followed by a sizable rebound. And since nothing has changed, and banks continue to debase currency with Weimarian abandon, the bullish thesis for digital gold remains the same.
Still, to many retail investors most of whom are new to the crypto space following the bitcoin winter hibernation todays action was nothing short of shocking as none other thanGoogle confirms, with the worlds largest search engine reporting that searches for Cryptocurrency just hit an all time high.
Some other notable searches:
And in what may potentially be actionable information, Google also reports that most energy efficient cryptocurrencyand environmentally friendly cryptocurrency are breakout searches.
Yet while for most retail investors who may have invested a sizable portion of their savings in the volatile asset class today was a jarring reminder that what goes up will eventually come down, for the ultra rich today was just an opportunity to buy the dip, as the laser-eyed Tom Brady who recently joined the bitcoin fan club, tweeted earlier today.
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Infowars Article
Bitcoin ($BTC USD) Vs Ethereum ($ETH): Which Cryptocurrency Price Is Better? – Bloomberg
Follow us @crypto for our full coverage.
The relative resilience of Ether in Mays cryptocurrency rout has put the spotlight back on the idea that the second-largest digital token could one day overtake Bitcoin by market value.
Right now the largest virtual currency is more than twice as big as Ether but the gap narrowed by about $350 billion in May, courtesy of one of Bitcoins worst drops and a smaller retreat in Ether. Fans of Ether cite its popularity for blockchain-based financial services and digital collectibles, as well as an ongoing upgrade to boost the efficiency of the affiliated Ethereum network.
Ether will likely exceed Bitcoin at some point in the future, as Ethereum will be superior when it comes to innovation and developer interest, said Tegan Kline, co-founder of blockchain software company Edge & Node. But she also said that investors should be allocating capital to both tokens.
The speed of change in the crypto sector makes prognostication perilous. Even so, Goldman Sachs Group Inc. strategists and star investor Cathie Wood are among those who highlighted Ethers potential recently. More broadly, interest in virtual currencies has expanded out beyond Bitcoin, whose share of $1.6 trillion in total crypto market value is down to 42% from about 70% going into 2021, according to data from CoinGecko.
In a report last week, Goldman commodity strategists Mikhail Sprogis and Jeff Currie wrote that Bitcoins first-mover advantage appears fragile, adding theres a high chance it will eventually lose its crown as the dominant digital store of value to another cryptocurrency with greater practical use and technological agility.
They said Ether seems the most likely candidate to surpass Bitcoin, while adding the rider that such an outcome is far from certain. Ethers annual supply growth is capped, they said, aiding its credentials as a store of value.
Pat LaVecchia, chief executive of crypto broker Oasis Pro Markets LLC, argues Ether is starting to be viewed as a better growth story for the long term.
Bitcoin is down some 37% in May, one of its worst monthly retreats on record, while Ether has shed about 11%. The largest token retreated 1% to $35,750 as of 8:27 a.m. in London. Ether was little changed at $2,447. Virtual currencies have been under pressure after Elon Musk criticized Bitcoins energy profile and China stepped up regulatory rhetoric.
For some, Bitcoin will fend off rivals to stay in top spot, not least because of the sheer amount of attention it gets. For instance, Andrew Kiguel, chief executive of Tokens.com, argues Bitcoin has the best outside validation signals given how institutions and tycoons like Musk keep talking about it.
Bitcoin will still remain king of the cryptos, said Edward Moya, senior market analyst at Oanda Corp. Bitcoin had too big of a lead for Ethereum to catch and has one major advantage, a fixed supply of only 21 million coins.
Ether is up more than 900% over the past year, exceeding Bitcoins 275% climb. Given the huge gains, the debate on what crypto insiders call the flippening -- a future where Ethers value overtakes Bitcoin -- will likely stay alive for a while yet.
Before it's here, it's on the Bloomberg Terminal.
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Bitcoin ($BTC USD) Vs Ethereum ($ETH): Which Cryptocurrency Price Is Better? - Bloomberg
Top Cryptocurrency Prices Today: Cardano, Ethereum, XRP gain up to 6% – Economic Times
New Delhi: Major crypto market tokens regained their initial gains on Monday. The cuts in daily prices have been marginal, but tokens including Cardano, Maker and XRP gained up to 10% per cent in the last 24 hours.
Prices of nearly all crytos tumbled after China Banking Association recently warned member banks of the risks associated with digital currencies. Murmurings of tighter regulations on digital tokens have put pressure on them. Despite such a massive crash, investors and traders continue to be bullish about cryptos.
Cryptocurrency market has been less volatile of late but major digital tokens are down by a third this month, weighed by growing regulatory pressures on the sector. Many digital currencies are trading at half of their peak after gaining in the beginning of this year.
Back home, leading domestic banks are clamping down on customers using bank accounts for cryptocurrency transactions. Major lenders such as HDFC Bank and State Bank of India have sent official notices to customers warning them of curbs, including permanent closure of accounts.
The move comes after the 'informal' diktat by RBI issued last week asked banks to stop dealing with cryptocurrency exchanges. The move has seen major backlash from crypto exchanges and traders.
"The weekend was pretty steady with most major currencies moving northwards. We will see this behaviour continue as markets consolidate further and money in the ecosystem evens out. Over the next few days, we will see bitcoin dominance dip and most of that money to flow into Altcoins like ETH and BNB", said Edul Patel, CEO & Cofounder, Mudrex
Crypto prices as of 09:50 IST (Source: coinmarketcap.com)
The cryptocurrency is based on the Bitcoin (BTC) protocol but differs in terms of its hashing algorithm, hard cap, block transaction time along with a few other technical factors. LTC currently has a block time of just under 2.5 minutes and very low transaction fees, which makes it suitable for micro-transactions and POS payments.
Today, Litecoin is one of the most widely accepted cryptocurrencies, and more than 2,000 merchants and stores now accept LTC across the globe.
Technically, LTC, on the four hourly time frame, made a Hammer pattern (trend reversal pattern) at the support level of $117.58 and the prices started moving upwards making Higher Top Higher Bottom formation up to the resistance level of $208.98. Post this, the asset is consolidating and trading in a range from $160 to $200. Hence, breakouts on either side will further decide the trend of the asset.
Key levelsSupport: $117 and $155Resistance: $220 and $247
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Top Cryptocurrency Prices Today: Cardano, Ethereum, XRP gain up to 6% - Economic Times
Miami to host largest cryptocurrency conference in history – Fox Business
New York Stock Exchange President Stacey Cunningham on todays markets, the reopening economy, cryptocurrencies and potential higher taxes under the Biden administration.
Miami is hosting the largest-ever cryptocurrency conference this week in a sign that what was once dismissed as a passing fad is now going mainstream.
The conference, which runs from June 3 to June 5 at the Mana Convention Center in Miamis Wynwood neighborhood, brings a host of reputable attendees including Twitter CEO Jack Dorsey and Miami Mayor Francis Suarez, who has said he wants to make the city a crypto hub.
Financial data analysis graph showing global market trends. Selective focus. Horizontal composition with copy space. (iStock)
The conference was originally scheduled to run from April 30 to May 1 in Los Angeles but was changed to Miami amid concerns of Californias strict COVID-19 policies. The date was also changed back to allow time for the second wave of the virus to pass and allow vaccines to roll out.
BITCOIN CONTENDS WITH BIGGEST MONTHLY DROP ON RECORD
Conference organizers expect upwards of 50,000 attendees.
Though still small compared to its west coast counterparts, Miami has emerged as a major tech hub in recent years. The Wynwood neighborhood, in particular, has become a hub for arts, technology, and innovation.
Mayor Suarez told Fox Business in January he is looking into allowing citizens to pay taxes and fees to the city in bitcoin.
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"We want to be one of the most crypto-forward and technological cities in the country," he said. "So we're looking at creating a regulatory framework that makes us the easiest place in the United States to do business if you're doing it in cryptocurrencies."
Fox Business Catie Perry contributed to this report.
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Miami to host largest cryptocurrency conference in history - Fox Business
Cryptocurrency INR price May 31: Bitcoin, Dogecoin, Ethereum, Shiba Inu and other top coins-check how they… – Zee Business
Cryptocurrencies, led by Bitcoin, have had a sluggish weekend and were down from 5 to 15 percent and more on Saturday and Sunday. All major coins including, Dogecoin, Ethereum, Cardano, Shiba INU and Polka dot, traded in negative on the last two days. It appears cryptocurrencies are still struggling to come out of the jolt served by China after it banned financial, payment institutions from cryptocurrency business. Under the ban, such institutions, including banks and online payments channels, was barred from offering clients any service involving cryptocurrency.
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On Monday May 31 at 12.40 pm, the prices of these coins marginally improved, however, most of these coins continued to trade in red. Overall crypto market was down by 1.56% in the last 24 hours, as per CoinSwitch Kuber data. Let's check prices of some of the famous coins in Indian Rupee (Rs) at CoinSwitch Kuber and Wazirx, top two famous exchanges available for trading in India.
1. Bitcoin: Rs 27, 62,375, down 1.17 %1-day highest: Rs 28,57,7761-Day lowest: Rs 27,01564
2. Ethereum: Rs 1,89,904, up Rs 0.42 per cent1-day highest: 1,93,1831-day lowest: Rs 1,81,090
3. Polka Dot: Rs 1,614, down 1.63 per cent1-day highest: Rs 16771-day lowest: Rs 1520
4. Cardano: Rs 125, down 1.24 per cent1-day highest: Rs 1331-day lowest: Rs 121
Dogecoin: Rs 23, down, 0.37 per cent1-day highest: Rs 241-day lowest: Rs 23
Shiba Inu: Rs 0.000611, down, 0.66 per cent1-day highest: Rs 0.000572 241-day lowest: Rs 0.000629
The cryptocurrencies mentioned here have been selected either on the basis of their rankings or their popularity. Readers should know that cryptocurrency trading is not banned in India but there is apprehension among traders due to lack of regulations.
Earlier on March 5, The Supreme Court had lifted the ban imposed by the Reserve Bank of India (RBI) trading in cryptocurrencies.
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Cryptocurrency INR price May 31: Bitcoin, Dogecoin, Ethereum, Shiba Inu and other top coins-check how they... - Zee Business