Trade

Think

Published

6 years ago

August 30, 2018

eToro

Very quietly and with only a very few people noticing, the total amount of computing power being used to mine bitcoin reached a new all-time on Monday.

Here we can see the beautiful hockey stick graph of the Bitcoin blockchain's hashrate over the last three years. A figure that has topped 61 quintillion hashes per second this week.

What this shows is a surge of new miners coming online. As more computers join the network the more difficult it gets to produce new coins, and the more expensive too.

This hash-powered arms race might be good for hodlers because higher mining costs tend to lead to higher price per coin but it certainly has other consequences as well.

Please note: All data, figures & graphs are valid as of August 30th. All trading carries risk. Only risk capital you can afford to lose.

Traditional Markets

Optimism was seen in the US stock markets yesterday as the North American segment of Trump's trade war is finally seeing the light at the end of the tunnel.

The tech-heavy Nasdaq flew 1.26% further into all-time high territory showing a marvellous marubozu candle on Wednesday (purple circle).

Despite the rock steady pace in the US, Asian and European stocks are seeing little respect this morning.

Here we can see the China50 falling throughout the day while the DAX and the CAC show a terrible opening.

Eye on the Buck

The US Dollar isn't doing great but it is holding steady at the lows (bottom chart). However, the emerging markets currencies are taking another hit today.

Here we can see the Dollar rising against the Ruble, the Lira, and the Rand.

However, even though the EM currencies are showing a particular vulnerability, the Dollar's performance is actually quite average compared to other major currencies this week.

Bitcoin Volumes Spikes

As bitcoin's price remains stable, what's interesting to watch are the volumes across the globe.

One of the best ways to see this is by looking at the charts from coin.dance, which show the transaction volume on the popular P2P bitcoin trading site LocalBitcoins.com.

From this, it becomes immediately clear that several South American countries are ramping up their purchases. Peru, Columbia, and Argentina are increasing their volumes steadily.

The real outlier though is Venezuela. As we know the economic crisis there has been pushing citizens to find refuge in many places. When it comes to storing value, Venezuelan citizen are increasingly turning to crypto.

Here we can see that the number of BTC traded in Venezuela last week has nearly doubled the already high levels that it saw the previous week.

Wishing you and yours a wonderful day ahead. As always, let me know if you have any questions, comments, or feedback.

Related Topics:Bitcoin Spike Venezuela Trudeau Thinking to Join Watch the Dollar

Up Next

Time for Intervention

Don't Miss

Growth Rate Outstanding

Click to comment

Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

Published

3 years ago

January 25, 2021

chainwire

Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more. One of the ways to have a successful…

Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

Published

3 years ago

December 24, 2020

chainwire

Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021.

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has…

Altcoins

My Crypto Heroes Announces Issuance of MCH Governance Token

Published

3 years ago

November 24, 2020

chainwire

Tokyo, Japan, 24th November, 2020, // ChainWire //

My Crypto Heroes is happy to announce the issuance of MCH Coin as an incentive to players in the My Crypto Heroes ecosystem, aiming to allow them to craft a “User-oriented world”. The MCH coin is available on Uniswap with a newly created pool with ETH.

My Crypto Heroes is a blockchain-based game for PC and Mobile. It allows users to collect historic heroes and raise them for battle in a Crypto World. Officially released on November 30th, 2018, MCH has recorded the most transactions and daily active users than any other blockchain game in the world.

What is MCH Coin?

MCH Coin is being issued as an ERC-20 Standard Governance Token. The issuance began on November 9th, 2020, with 50 million tokens issued.

Of the funds issued, 40% are allocated to a pay for on-going development and as rewards for advisors and early investors. 10% are allocated to marketing and the growth of the ecosystem, and 50% are allocated to the community. The Distribution Ratio of the MCH Coin is subject to change via a governance decision.

The MCH coin will be used as a voting right as part of the ecosystem’s governance, with 1 coin being 1 vote. It will also be used for in-game utilities and payments. Additional information can be found here:

https://medium.com/mycryptoheroes/new-ecosystem-with-mchcoin-en-a6a82494894f

During December 2020 the first…