A once coal-fired plant in rural, upstate New York stands at the center of a battle over Bitcoin. Greenidge Generation LLC mines “proof-of-work” cryptocurrency — the bitcoin cryptocurrency process requiring a massive amount of computing power. According to a Cambridge University analysis, globally, Bitcoin uses more electricity annually than the whole of Argentina. For a small town in the Finger Lakes region, hosting Greenidge for bitcoin mining is seen as a blessing or a curse… Source link

Ethereum extended decline below the $2,700 support against the US Dollar. ETH price is struggling and might even decline below the $2,500 support. Ethereum started a major decline below the $2,800 support level. The price is now trading below $2,700 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $2,700 on the hourly chart of ETH/USD (data feed via Kraken). The pair could recover, but the bears might remain active near $2,650 and… Source link

Blockchain analytics provider Glassnode has depicted a bearish scenario for Bitcoin (BTC) as on-chain metrics suggest increased selling pressure is imminent. In its weekly analytics report on Monday, Glassnode said that Bitcoin bulls “face a number of headwinds,” referring to increasingly bearish network data. The researchers pointed at the general weakness in mainstream markets alongside wider geopolitical issues as the reason for the current risk-off sentiment for crypto… Source link

The Litecoin sell-off accelerated in the evening session as investors remained pessimistic about the ongoing geopolitical tensions between western countries and Russia. The LTC coin is trading at $102, which is the lowest it has been since January 24th. It has crashed by about 28% from its highest level this month. Fear and greed index falls Litecoin declined sharply as investors remained fearful about the crisis going on in Europe. On Monday, Vladimir Putin announced that Russia will… Source link

Litecoin is just boring. GrayScale has a trust for LTC. Boring. Institutional money is investing in LTC in record numbers. Boring. LTC is one of Grayscale’s largest investments. Boring. They plan on increasing this investment. SOOOO boring! Anthony Watson Coder and Author of Cryptocurrency Investing in the Age of Dollar Chaos LTC is the cryptocurrency world’s ultimate wallflower. Litecoin never seems to get any love. Nonetheless, it is one of the oldest cryptocurrencies as It continues to… Source link

Ethereum price is now at its most vulnerable position since December 28, 2021. One final Ichimoku level preventing a total collapse of ETH must hold. Key resistance ahead must be broken to prevent a sell-off. Ethereum price action has not been immune to the broader effects weighing on risk-on markets. Fears of an imminent invasion of Ukraine by Russia have sidelined many market participants or have scared off investors entirely. However, a new bull market and… Source link

What happened Investors of all stripes continue to be on edge, with high-level uncertainty driving many investors to seek out safety. While this has meant a mostly red week for top cryptocurrencies, Ethereum ( ETH -1.65% ), Shiba Inu ( SHIB -0.33% ), and Quant ( QNT -2.43% ) have each recovered nicely today. These three tokens appreciated 2.4%, 3.7%, and 11.1% over the past 24 hours, as of 12:30 p.m. ET.  Ethereum appears to be getting a boost from this… Source link

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Just like Ethereum is home to many decentralized apps, Polkadot is the underlying platform for an increasing number of projects that aim to use all the benefits of processes such as sharding and features such as parachains. Ethereum revolutionized how we view and use blockchain technology, as it offered a way to utilize smart contracts and harness blockchain’s power for things other than cryptocurrencies. However, it was just one in the sea of different blockchains that had no communication… Source link

Bitcoin price has retraced after failing to make it over a crucial hurdle. The downtrend was cut short, though, due to the presence of a demand zone. A bounce off this zone is likely to provide Ethereum, Ripple and other altcoin traders a brief opportunity to go long. Litecoin price set a higher low as it dipped inside a demand zone, indicating that the bullish outlook is intact. Going forward, investors can expect LTC to climb higher as the crypto markets flip… Source link