Huobi bans crypto derivatives trading for users in China
Chinese users will no longer be able to trade crypto derivatives on the Huobi exchange amid a broader cryptocurrency crackdown from the government. Go to Source Powered by WPeMatico
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Operator of China’s first Bitcoin exchange reportedly exits crypto
BTCChina has reportedly sold its stake in the Singapore-registered Bitcoin exchange ZG.com. Go to Source Powered by WPeMatico
Shanghai Man: China retains mining control? Alipay’s ancient NFTs and Amber’s big raise
A look at miners shifting hardware overseas, Amber raises $100m, and Bitmain temporarily shuts down sales among dropping hashrate sales. Go to Source Powered by WPeMatico
Waiting game: Why Friday’s $6B in Bitcoin and Ethereum expiries may not move the market
Traders are looking for BTC and ETH to make a decisive move ahead of Friday’s $6 billion in quarterly futures and options expiries, but what does back-tested data show? Go to Source Powered by WPeMatico
Chinese Mining Exodus Leads to ASIC and GPU Second-Market Surplus and Lower Prices
While bitcoin miners in China have been scrambling, second-hand markets offering cryptocurrency mining rigs from ASICs to GPUs have been exploding with an excess surplus. Additionally, the ASIC manufacturer Bitmain suspended machine sales on Wednesday, ceasing international spot deliveries. Official Crypto Mining Rig Dealers Are Either Sold-out or Suspending Deliveries, Second-Markets Explode With Mining Products … Read more
Data shows derivatives had little to do with Bitcoin’s drop to $29K
Bitcoin price shocked investors as it plunged 20% to a 6-month low, but data shows derivatives played a marginal role in the correction. Go to Source Powered by WPeMatico
Bitcoin’s Hashrate Drops Below 100 Exahash, Observers Describe China’s ‘Great ASIC Exodus’
Most of the crypto community has been focused on the developments in China and more specifically, the crackdowns against bitcoin miners in Inner Mongolia, Xinjiang, Qinghai, Yunnan, and Sichuan. On Wednesday morning (EST), Bitcoin’s overall hashrate has continued to drop and is now below the 100 exahash per second (EH/s) region. During the last 24 … Read more
Bitmain reportedly suspends Bitcoin miner orders amid booming secondhand supply
By postponing the sales, Bitmain aims to help miners exiting the industry get better prices for mining equipment. Go to Source Powered by WPeMatico
Chinese crypto mining firm Canaan sets up shop in Kazakhstan amid crackdown
Canaan has started mining Bitcoin with its latest Avalon Miner units in Kazakhstan after setting up a service center in the country earlier this month. Go to Source Powered by WPeMatico
Chinese Bitcoin miners ‘not even in the mood to drink anymore’
Many Bitcoin miners in China are down with the blues as Beijing forces several operations to go offline. Go to Source Powered by WPeMatico