[ad_1] Russian President Vladimir Putin has cautioned of an impending energy problem brought about by the unbridled growth of bitcoin mining in his nation. Emphasizing the enormous power consumption of mining activities, Putin said that these operations account for about 1.5% of Russia’s overall electricity consumption. This translates to a whopping 16 billion kilowatt-hours yearly. The president’s worries center especially on areas like Irkutsk, Buryatia, and Zabaikalsky Krai where power shortages have recently become consistent. While not conventional money, cryptocurrencies are being utilized more and more for international settlements, Putin said, underlining the significant energy consumption involved in digital coin…
Author: dfrancis36
[ad_1] The XRP price has seen a sharp rally of over 39% in the past week as on-chain data shows the sharks and whales have been busy accumulating. XRP Sharks & Whales Now Carry Over 85% Of The Entire Supply According to data from the on-chain analytics firm Santiment, large XRP investors have been participating in buying for a while now. The indicator of relevance here is the “Supply Distribution,” which keeps track of the total amount of supply that a particular wallet group is currently holding. The addresses or investors are divided into these cohorts based on the number…
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[ad_1] In recent trading activities, XRP has experienced a significant retracement, dipping toward a critical support level of $0.5724. This retracement which is seen as a correctional movement to the crypto asset’s recent rally has caught the attention of traders and investors alike thereby raising speculations as to whether the bulls can maintain the $0.5724 support level. This article provides an in-depth examination of the significance of the $0.5724 support level with the help of technical indicators and the potential future scenarios that could unfold when the coin reaches the level. XRP’s price was trading at around $0.5816 and was…
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[ad_1] Vitalik Buterin, co-founder of Ethereum, and Charles Hoskinson, founder of Cardano, made their opinions about “pro-crypto” politicians known on Wednesday. First, Buterin released his essay titled “Against choosing your political allegiances based on who is ‘pro-crypto’”, where he expressed concerns over the increasing politicization of crypto. This trend has gained prominence as former President Donald Trump, a leading presidential candidate for the upcoming election, has turned “pro-crypto” and received notable endorsements and contributions from major players within the industry, such as from Jesse Powell (co-founder of Kraken) and the Winklevoss twins (founders of Gemini). Buterin’s Argument On Political Allegiances…
[ad_1] Once again taking the stage in the crypto scene is the popular meme coin Dogecoin (DOGE). Renowned crypto analyst JD has lately revealed his very positive view of DOGE, which has excited traders and investors. Related Reading Driven by what he labels as one of the most “beautiful charts” he has seen in his long trading history, JD claimed in a series of perceptive pieces on X that Dogecoin is about to experience a significant price spike. Even with the latest market downturn when DOGE dropped by 40% from its local high, JD remained unflinching in his positive view.…
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[ad_1] Data from the on-chain analytics firm Glassnode has revealed how the Bitcoin transaction volume compares with traditional payment processors. Bitcoin Is Currently Witnessing On-Chain Volume Of $46.4 Billion Per Day As explained by Glassnode in a new post on X, BTC’s on-chain transaction volume currently stands at $46.4 billion per day. The on-chain transaction volume here naturally refers to a metric that keeps track of the total amount of Bitcoin becoming involved in network transfers. Below is the chart shared by the analytics firm that displays how the on-chain transaction volume of BTC compares against some traditional payment processors.…
[ad_1] Cryptocurrency analyst and trader Ali Martinez is highlighting a memecoin that is flashing a bullish signal. Martinez tells his 67,300 followers on the social media platform X that Brett (BRETT), a memecoin built on the Ethereum (ETH) scaling solution Base, appears to be forming a bull flag on the daily chart. According to Martinez, Brett could soar to $0.63, about 357% from the current level, if the memecoin overcomes the $0.15 resistance zone. Source: Ali Martinez/X Brett is trading at $0.138 at time of writing. The crypto trader and analyst also offers his insight on Solana (SOL). According to…