Ethereum Price Creates GPU Shortage, Some Manufacturers Blame Nvidia

During the last four weeks, cryptocurrency markets have gathered significant value, and the crypto asset ethereum gained over 40% during the last 30-days. The price of ether moving northbound has caused a strain on the graphics processing unit (GPU) market, as ETH miners have become scarce. Regional reports stemming from China explain that GPU miners are becoming much harder to obtain since the price of ether started rising exponentially. Ethereum (ETH) touched an 11-month high on Monday, touching $327 per coin. Statistics from Etherscan shows that Ethereum’s network hashrate has…

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Messari: DeFi Can Continue to Grow as ‘Useless’ Top 30 Coins Wither

With the value of funds locked in DeFi almost quadrupling in less than two months, the community is debating whether DeFi is in a bubble. Data published by crypto market analytics firm Messari on July 29 indicates that the collective capitalization of the decentralized finance (DeFi) sector is equal to only 1.5% of the entire crypto capitalization. According to Messari, the collective capitalization of every DeFi project put together is roughly $4.12 billion — less than that of the fifth-ranked crypto asset by market cap, Bitcoin Cash (BCH). Watkins also…

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Bitcoin’s Current Breakout Sets It up for $28,000, Headed for Six Figures – Max Keiser

Max Keiser has predicted that bitcoin’s current bullish pattern will lead toward a price of $28,000. While the bitcoin bull does not give a timeframe when this is likely to happen, he believes that, thanks to relentless government money printing, the benchmark cryptocurrency will eventually test $100,000. But not before some correction. “$28,000 is in play before we see a pullback – and then we’re heading to 6-figures,” Keiser forecast, in the course of several tweets. Bitcoin (BTC) soared more than 20% to hit $11,300 on July 28, its highest…

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HEX Plasters UK With Ads Boasting of 11,500% Returns

Ads boasting that the price of the controversial HEX token has risen 11,500% in four months appeared at English Premier League soccer games. Richard Heart’s controversial HEX token has launched an advertising blitz in the U.K., plastering ads on London public transportation, in newspapers, and during English Premier League soccer games.  As reported by Twitter user Metallic Elmo, scrolling text appeared behind players at the series of soccer matches on July 26.  “HEX price went up 11,500% in 129 days,” the ads stated, directing viewers to visit the ERC-20 token’s…

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Bitcoin’s Realized Price Action Shows Full Recovery From Black Thursday Crash

The realized price of Bitcoin that flipped around Black Thursday has fully recovered currently standing at almost double of the market price. Another key metric points to the recovery of the Bitcoin (BTC) market — the current price has recently doubled the asset’s “realized” price. Bitcoin price versus realized price. Source: Glassnode. What is the “realized” price of Bitcoin? The realized price of Bitcoin is calculated by dividing the realized market capitalization by the supply. The realized market capitalization is computed by multiplying each Unspent Transaction Output or UTXO by…

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Bakkt Futures Volume Hits $122 million, as Bitcoin Reached New 11-Month High

Volumes on bitcoin futures offered by Bakkt set a record high on July 27, with 11,500 contracts traded on the institutional exchange. Altogether, the contracts are worth about $126 million, at the time of writing. Each contract is equivalent to one bitcoin (BTC). Total open interest – an indicator of the total number of outstanding contracts held by investors – reached $8 million from a low of around $4 million a few days earlier, showing that more money is flowing into the marketplace. In a tweet, Bakkt said: “Our bitcoin…

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$39M of Bitcoin Stolen in 2016 Bitfinex Hack Is on the Move

Hackers have transferred roughly $38.7M out of $1.3B worth of Bitcoin from wallets connected to the infamous 2016 hack of crypto exchange Bitfinex. Some of the 119,756 Bitcoin that was stolen from crypto exchange Bitfinex in 2016 has started moving again.  According to a series of tweets posted by Whale Alert on July 27-28, wallet addresses known to be associated with one of the largest breaches ever of a crypto exchange moved 3503 Bitcoin (BTC) — worth roughly $38.7 million — over 12 transactions.  The largest individual movement was of…

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Mainstream People Coming to Bitcoin, Digital Assets Data CEO Says

Digital Assets Data CEO Mike Alfred explains increased Bitcoin interest from a number of parties. Mike Alfred, CEO of analytics firm Digital Assets Data, described increased Bitcoin (BTC) enthusiasm from the public amid flying prices. “We are seeing more signs of increased institutional interest,” Alfred told Cointelegraph of Bitcoin on July 28 — the day after bitcoin rose more than $1,000 in a 24-hour period. Bitcoin broke upward Crypto’s pioneer asset had a standout day on July 27, rising from $9,930 to $11,400 within a single daily price candle, according…

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Bulls Control Bitcoin Price Even as Funding Rates Reach Record Highs

As Bitcoin rallied through $10K, derivatives markets started to show signs of excessive leverage but the market remains tilted toward bulls. Bitcoin (BTC) price finally woke up and surged to a new 2020 high but as the markets surged past $10,000, some traders seem to have opened excessively leveraged long positions.  This effect became more noticeable as the funding rate for perpetual contracts reached the second-highest level this year at 12.4% per month. Funding alone shouldn’t be considered a red flag, especially in short-term periods. The problem lies mostly in…

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AMFEIX Threatens Users Who Share Coverage That Criticizes the Company

The purported investment fund is exhibiting some shady behavior. Last week Cointelegraph published a story about investors having difficulty getting their money back from a crypto fund called AMFEIX, which promised high-yield profits for investors who sent them Bitcoin (BTC). Our story described more than 500 pending withdrawals from users trying to get their money back, and AMFEIX’s unsatisfactory communication with those users. The company addressed its users via its official Telegram channel after the story was published, suggesting that the withdrawal delays were due to technical difficulties that had…

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