• PEGA Pool has announced the launch of their eco-friendly Bitcoin mining pool, which incentivizes clients to use renewable energy and offsets their carbon footprint.
• PEGA Pool is one of the world’s top 10 largest Bitcoin mining pools and offers an attractive income through its Full-Pay-Per-Share (FPPS) model.
• The platform rewards miners who use renewable energy sources with lower pool fees and plants trees for those using fossil fuels in order to partially offset their carbon footprint.
PEGA Pool Launches Eco-Friendly Bitcoin Mining Pool
UK-based PEGA Pool has announced the official launch of its eco-friendly Bitcoin mining pool that incentivizes clients to use renewable energy and offsets their carbon footprint.
One Of The World’s Top 10 Largest Bitcoin Mining Pools
PEGA Pool is one of the world’s top 10 largest Bitcoin mining pools according to BTC.com. It provides a more consistent and attractive income than mining alone by allowing clients to connect their ASIC miners to its platform and mine together.
Incentivizing Renewable Energy Use
The platform offers an aggressive payout structure with a competitive Full-Pay-Per-Share (FPPS) model that incentivizes miners to switch to renewable energy sources. It rewards miners making a positive impact on the environment with 50% lower pool fees, while also encouraging others to use renewable energy.
Partially Offsetting Carbon Footprint
For those mining with fossil fuel sources, PEGA Pool uses a portion of their pool fees to plant trees in order to partially offset their carbon footprint. It has already planted over 148,000 trees resulting in a yearly offset of 3,967 tons of CO₂.
Encouraging A More Sustainable Industry h2 > < p >David Bungay, CEO of PEGA Pool said: “Our journey began with PEGA Mining which gave us the desire to build PEGA Pool and provide what was missing in our industry […] We built PegaPool so that we could not only offer our clients a trustworthy mining pool but also provide them with an incentive to change the industry for the better.” p >
• The Department of Justice has launched a criminal investigation into Silvergate Capital Corp. and its dealings with bankrupt crypto firm FTX and its sister concern Alameda Research.
• Silvergate saw over two-thirds of its customer base withdraw deposits of over $8 billion after the collapse of FTX, resulting in a net loss of $1 billion for the bank in the fourth quarter of 2022.
• Federal prosecutors are conducting a criminal probe into Silvergate’s operations, including their dealings with FTX and Alameda Research, raising the possibility that charges could be brought against them.
The United States Department of Justice has launched a probe into Silvergate Capital Corp. and its dealings with bankrupt crypto firm FTX and its sister concern Alameda Research. The FTX debacle of 2022 has continued to have consequences across the industry, including on certain firms in the TradFi sector, leading to charges being brought against the CEOs of FTX and Alameda Research for fraudulent activities.
An inside source has reported that the DoJ is now looking into the operations of Silvergate Captial Corp., which is the parent company of fintech-focused Silvergate Bank; one of FTX’s major backers who lost over two-thirds of customer deposits totaling $8 billion after FTX collapsed in late 2022. This resulted in a net loss for Silvergate Bank during Q4 2020 amounting to $1 billion, prompting them to lay off employees as part of damage control efforts.
Criminal Probe Underway
Silvergate has been under increasing scrutiny due to their ties to Sam Bankman-Fried (FTX founder) and his associated businesses, causing their shares to drop by 88% in 2022 coupled with premarket trading losses amounting to 40%. This situation has led federal prosecutors from DOJ’s fraud section launching a criminal investigation into Silvergate’s dealing with both FTX & Alameda Research; creating further FUD among investors already wary about delving into cryptocurrency markets.
Could Charges Be Brought?
Recently, US senators have requested information from Silvergate regarding risk management practices as well as details on their interactions with both firms mentioned above. This wave anti-crypto sentiments among government departments leaves open possibility that charges could be brought against them if any wrongdoing is found during investigations or otherwise uncovered upon further examination.
Despite initially being small US organization prior going public 2019 – entering crypto market enabled it become bank for crypto companies that were turned down by traditional banking service providers; unfortunately this success was short lived as aforementioned events transpired resulting it facing significant backlash both financially & legally as well as suffer reputation damage due uncertainty created by judicial scrutiny currently underway .
• Hayden Adams, the founder of Uniswap, thinks people rooting to have crypto shut down are “incredibly cringe”.
• He emphasizes that no one is forcing anyone to use crypto and suggests that opposers should let people do what they want and chill.
• Billionaire Warren Buffet and economist Nouriel Roubini have been shooting down blockchain and crypto proponents, with Roubini recently calling Binance’s CEO Changpeng Zhao a “ticking time bomb.”
Hayden Adams, the founder of Uniswap, is not happy with people who are rooting to have crypto shut down. On January 26, he took to Twitter to express his thoughts and frustration about the matter, calling these people “incredibly cringe.” He emphasized that no one is forcing anyone to use crypto and suggests that opposers should just let people do what they want and chill instead of trying to infringe on people’s rights.
However, there have been many prominent figures who have been vocal about their opposition to cryptocurrencies. Billionaire Warren Buffet and economist Nouriel Roubini, nicknamed Dr. Doom, have been leading the pack of nocoiners, individuals who are against crypto, hold no coin, or show no desire to participate. Following the recent FTX collapse, Roubini attended the Abu Dhabi Finance Week, where he called Binance’s CEO, Changpeng Zhao, a “ticking time bomb” and expressed surprise at how long Binance had been allowed to operate.
It is clear that the crypto industry is still facing a lot of opposition. However, Adams is one of many who are standing up for their belief in blockchain and cryptocurrencies. He is encouraging people to do their own research and make up their own minds about the industry, rather than following the crowd and succumbing to the pressure of nocoiners.
• Cardano’s native coin ADA has seen a 15% gain in price over the past seven days, due to the hype surrounding the upcoming Djed stablecoin launch, among other factors such as the improvement of economic conditions and ongoing developments on the Cardano Network.
• The Cardano community is also anticipating upcoming launches that would enhance the network and Smart Contract capabilities, as well as a new improvement proposal known as CIP-30 that would allow the integration of web-based wallet bridges.
• The eTukTuk automotive project launch is also speculated to be fuelling the ADA price rally.
Cardano’s native coin ADA has seen a remarkable price rally since the start of this year. The token owes its performance to the improving economic condition in the market and the ongoing developments on the Cardano Network. Over the past seven days, ADA has observed more than a 15% price gain and an over 17% 14-day gain.
The hype around the upcoming Djed stablecoin launch has been a major factor driving the ADA price up. According to COTI developers, the network behind the Djed stablecoins, ADA holders would receive extra rewards when they mint Djed by staking their ADA coins. This has encouraged users to buy more ADA and could further push the coin price.
Cardano’s community is also anticipating upcoming launches that would enhance the network and Smart Contract capabilities. These launches could allow Cardano to meet more market needs and position it to become a leader in the blockchain industry. Furthermore, Cardano has received a new improvement proposal known as CIP-30. This improvement proposal would allow the integration of web-based wallet bridges that would promote interaction between Cardano wallets and Web2 platforms like Amazon. This could lead to more use cases and adoptions of ADA, further increasing its growth.
The eTukTuk automotive project launch is also speculated to be fuelling the ADA price rally. This project is an ambitious initiative that seeks to create a financial infrastructure for the automotive industry, which would be powered by the Cardano blockchain. This could lead to increased adoption for ADA and open up new use cases for the token.
Overall, the developments on the Cardano network, along with the improving economic conditions, have created a favorable environment for ADA and have contributed to its impressive price rally over the past weeks.
• 59% of Bitcoin holders are currently profitable as the coin trades above the Realized Price of $19,700.
• On-chain data shows that only 38% of Bitcoin holders are currently out of the money.
• Recent Bitcoin price action suggests a possible recovery, although a comprehensive breakout is still necessary to solidify and revive demand.
The crypto market is constantly changing, and Bitcoin has been no exception. On January 19th, IntoTheblock data showed that 59% of Bitcoin holders were in the green when the coin traded above the Realized Price of $19,700. This realization is a shot in the arm for HODLers, considering the sharp decline in prices over the past few months. After peaking at around $69,000 in November 2021, Bitcoin prices dropped to just over $15,000 in 2022.
On-chain data is an important tool in gauging the state of the market, and analysts use it to interpret price action and inform retail traders. When it comes to Bitcoin, more than half of holders are currently in the money, while only 38% are out of the money. This is a net positive for the ecosystem, although a comprehensive breakout is still necessary to solidify and revive demand.
Recent Bitcoin price action is a good sign, as the coin trades above $20,700. However, some analysts are predicting a 12% decline in the next two weeks, so traders should approach with caution.
Overall, the data is encouraging for the crypto market. The fact that more than half of Bitcoin holders are currently in the green is a good sign for the ecosystem, and suggests that the market is on the road to recovery. However, traders should keep an eye out for any dips in prices over the coming weeks.
• Managing partner and head of research at Fundstrat Global Advisors, Thomas Lee, recently outlined why the VIX – a volatility index from the Chicago Board Options Exchange – will become an important indicator for equity markets and potentially Bitcoin in the coming months.
• Lee expects a 20% rally for the S&P 500 this year due to inflation falling faster than the Fed recently forecasted, which would cause the VIX to decrease in value.
• Thursday will be a telling day, as if the core CPI is again below consensus, that means the original Fed forecast of 4.8% for PCE is 60 basis points too high.
Recently, Thomas Lee, managing partner and head of research at Fundstrat Global Advisors, outlined why the VIX – a real-time volatility index from the Chicago Board Options Exchange (CBOE) – will become an important indicator for equity markets and possibly Bitcoin in the coming months. VIX was created to quantify market expectations of volatility for the S&P 500. In doing so, the VIX is future oriented, meaning that it only shows the implied volatility for the next 30 days. As the rule of thumb goes, if the VIX increases, the S&P 500 is likely to decrease, and if the VIX value decreases, the S&P 500 is likely to remain stable or increase.
Lee expects a 20% rally for the S&P 500 this year due to inflation falling faster than the Fed recently forecasted, which would cause the VIX to decrease in value. He stated that, “the bond market volatility is below its 200 day [average]. If that happens to the VIX, we would be at 17. Since the 1950s, following a negative year, if the VIX is lower on average than the prior year, we are up an average of 22%. So I think we are set up for a 20% year.”
Thursday will be a telling day, as if the core CPI is again below consensus, that means the original Fed forecast of 4.8% for PCE is 60 basis points too high. This could have a major effect on the VIX, and will be of major importance to watch.
Lee’s prediction of a 20% rally for the S&P 500 is an optimistic one, and investors will be watching closely to see if his prediction holds true. While the VIX can be a useful tool to measure market volatility, it will ultimately be the performance of the S&P 500 that will determine whether or not Lee’s prediction proves to be correct.
• Lido DAO (LDO) has seen its total market capitalization increase to $1.25 billion with its intraday, weekly, bi-weekly, and monthly charts all showing double-digit gains.
• LDO is currently trading at $1.51, up 13% in the last 24 hours, 56.5% in the last 7 days, and 50% in the last month.
• The upcoming Ethereum upgrade, the Shanghai fork, is expected to further increase demand for Lido Finance as it will allow users to withdraw their staked ETH tokens.
Lido DAO (LDO) has been on an incredible run in recent times, with its total market capitalization now standing at $1.25 billion. The native cryptocurrency of Lido Finance has been able to post double-digit gains on its intraday, weekly, bi-weekly, and monthly charts, with its current market price of $1.51 representing a 13% increase in the last 24 hours, a 56.5% increase in the last 7 days, and a 50% increase in the last month.
The impressive performance of LDO has been largely attributed to the growing demand for staking services offered by Lido Finance. At the time of this writing, Lido Finance is responsible for nearly 30% of all staked ETH tokens, making it the largest liquid staking platform for Ethereum. This demand has been driven by Ethereum’s transition from proof-of-work to proof-of-stake back in 2022.
Moreover, the upcoming Ethereum upgrade, the Shanghai fork, is expected to further increase demand for Lido Finance as it will allow users to withdraw their staked ETH tokens, thus encouraging more people to stake through Lido Finance. This will result in an increase in the demand for LDO tokens, further driving up its price.
Given the current market conditions, it is safe to say that Lido DAO (LDO) is set to continue its impressive run in the near future, making it an attractive investment opportunity for those looking to benefit from the long-term growth of Ethereum and the booming DeFi sector.
• On-chain data shows that the Bitcoin exchange depositing transactions are now at a 4-year low, indicating that the bottom may be here.
• The “exchange depositing transactions” metric measures the total number of Bitcoin transfers that are headed toward centralized exchanges.
• Low values of this indicator imply that not many investors are applying selling pressure right now.
Recent on-chain data has revealed that Bitcoin exchange depositing transactions are currently at a four-year low, suggesting that the bottom of the market may be near. The “exchange depositing transactions” metric is an indicator that tracks the total number of Bitcoin transactions going to centralized exchanges. The difference between this metric and more popular exchange inflow is that it measures the number of transfers to exchanges, as opposed to the combined dollar value of those transfers. This distinction is important, as the latter can be inflated by the actions of a few whales, and thus may not accurately reflect the sentiment of the majority of investors.
The exchange depositing transactions metric is useful for gauging market sentiment, as a high value of this indicator can imply that investors are selling their coins. Conversely, a low value implies that not many are participating in selling activity. This is evidenced by the current level of the 30-day moving average (MA) for this metric, which is the same as it was in the first quarter of 2019.
The implications of the current exchange depositing transactions level are twofold. On one hand, it could be a sign that the bottom of the market is near, as investors are seemingly no longer participating in selling activity. On the other hand, it could be a sign that the current market price of Bitcoin is unsustainable, as investors are not interested in buying.
Either way, the current exchange depositing transactions level is an important insight into the overall market sentiment, and could be a sign of things to come. As such, investors should pay close attention to this metric, as it could provide valuable information about the near-term direction of the Bitcoin price.
– Decentraland (MANA) failed to take advantage of positive developments in its ecosystem in 2020 and has lost 91% of its value by the end of 2022.
– Over the last 30 days, the digital coin has lost 10.3% of its value and 27.3% in the last month.
– Despite these losses, the project has seen a 440% year-over-year increase in the volume of NFT assets minted on its network.
At the end of 2022, Decentraland (MANA) was in a “beaten” state, having shed 91% of its value since its launch in 2020. This digital coin, launched by Ariel Meilich and Esteban Ordano, failed to take advantage of some of the positive developments that occurred in its ecosystem throughout the year. The last seven days have been particularly rocky for the altcoin, with a 10.3% depreciation in its value, and a 27.3% decrease over the last 30 days.
Despite these losses, Decentraland has seen significant progress with its non-fungible token (NFT) space. In its yearend performance report, the project disclosed that there were 2.7 million unique NFTs minted on its platform in 2022, resulting in a 440% year-over-year increase. This means that Decentraland has become increasingly popular in the NFT market, and the project is continuously working to expand its platform and offerings.
The team behind Decentraland has also been taking a number of steps to increase its user base. This includes the launch of its SDK, which allows developers to create their own projects using the Decentraland platform. Additionally, the team has been focusing on increasing the liquidity of its digital token, introducing a yield farming program and a staking mechanism.
While the losses experienced by Decentraland in 2022 have been significant, the project is still making progress and the team behind it is actively working towards further expanding the platform. With the increasing popularity of NFTs, Decentraland could benefit from the growing demand and continue to increase its user base and reach in the coming year.
– Polygon (MATIC) price has been on a downward spiral for the last couple of weeks, dropping 4% in the last 24 hours and 6% in the last week.
– The altcoin has breached several important price floors and is currently trading 74% below its all-time high secured one year ago.
– The most important price floor currently stands at $0.74 and if MATIC loses that support line, the coin can register a significant decline of 14%.
The Polygon (MATIC) price has been on an overall negative trajectory for the last couple of weeks, indicating a bearishness in the market. Over the last 24 hours, MATIC lost 4% of its value and 6% in the last week. This is a clear sign that the buyers are losing their presence in the market as the prices keep dropping.
In November, MATIC touched the $1.20 price mark and then plummeted significantly, leading to a freefall in its value. Looking at the technical outlook on the daily chart, it is evident that buyers are nowhere to be seen and it will be an uphill task for MATIC to sustain itself at the immediate support level. Over the past month, the coin has breached several important price floors, further dampening its prospects. After trading sideways for a while, the coin started to drop again, and has now lost buyers even further.
The most important price floor for MATIC currently stands at $0.74. If the coin breaches this point, then it can register a significant decline of 14%. The market capitalization of MATIC has also declined over the past few weeks, which is a clear indication of the bearishness in the market. If we look at the coin’s performance over the past year, then we can see that MATIC is currently trading 74% below its all-time high, which is a further cause for concern.
Overall, the outlook for MATIC appears to be bleak, and the coin needs to find buyers soon if it is to sustain itself. The important price floor of $0.74 will be a crucial point to watch in the coming days as any breach of it could lead to a further decline in the coin’s price.