Crypto mining allegedly worsening air pollution in Iran

The push by many in Iran to establish the country as a mecca for crypto miners may be having some unintended environmental consequences.  According to a Bloomberg report, the energy requirements of Bitcoin (BTC) and crypto mining in Iran coupled with the demand for heat in an exceptionally cold winter have contributed to a natural gas shortage, forcing power plants to allegedly burn “low-grade fuel oils” to meet the country’s electrical needs. The result has been “thick layers of toxic smog” across many Iranian cities and blackouts as some power…

Bitcoin price rally to $37,850 signals that bulls intend to reclaim $40K

Bitcoin (BTC) price broke through the $35,000 resistance and appears to be stepping into a new range that would see the price trade between $38,000 to $40,000. Today’s recovery from the $34,000 level also appers to have invalidated what looked to be a bearish head and shoulders pattern forming on the 4-hour timeframe.  BTC/USDT 4-hour chart. Source: TradingView Reclaiming the $36,000 level as support may also assist with squashing the infantile narrative that Bitcoin price was entering a new bear market after this week’s 26.5% plunge shaved off $200 billion…

If it ain’t broke, don’t fix it? Jan. 6–13

Finance Redefined is Cointelegraph’s newsletter focusing on the latest events and trends of DeFi, delivered to subscribers every Wednesday. This week I wanted to highlight Andre Cronje’s recent confession on Medium, which triggered a fair bit of discussion and quite a bit of salt from Uniswap team members. This particular spat occurred because he complained about developers just forking someone else’s code and launching it themselves. For those unaware of the irony, this is basically what SushiSwap, a Yearn ecosystem member, initially did to Uniswap. More importantly, Cronje also complained…

Bitcoin Just Passed $37k—and Analysts Say the Bottom May Be In

Bitcoin has undergone an extreme rally over the past day, surging from the $33,000 region past $37,000 as of this article’s writing. The cryptocurrency now sits above $37,000 for the first time since the weekend and is up 10% in the past day’s trading session. The cryptocurrency is outperforming altcoins in this move higher. While Bitcoin has gained 10% in the past day’s trading session, altcoins such as Ethereum and XRP are only up 3-5%. Related Reading: Wall Street Veteran Kickstarts Own Bitcoin Fund With $25m Investment The Bitcoin Bottom…

DEX and interoperability upgrades show TomoChain (TOMO) wants DeFi dominance

The cryptocurrency market started the year in full force and with all the bullish breakouts happening it can be difficult to discern which projects are simply being driven by the macro trend and which are making gains based on solid tech developments and improving fundamentals.  As the price of Bitcoin dropped more than $11,000 between Jan. 10 and Jan. 11, a number of altcoins saw double-digit losses but a few DeFi and layer 2-oriented coins bucked the trend and quickly recovered as BTC price consolidated. For example, TomoChain (TOMO) saw…

Dogecoin Gets Three Exchange Listings in One Day

Dogecoin has received three exchange listings over the last 24 hours, according to reports from the community. Three Exchanges Add DOGE On Jan. 13, the Shibu inu dog-themed cryptocurrency was listed on three platforms: FTX (futures and spot trading), Huobi Futures (margin swaps) and WazirX (spot trading). It is not clear why these exchanges have suddenly added support for Dogecoin, as the coin’s developers have not made any recent announcements about the cryptocurrency. Some have speculated that exchanges are attempting to capitalize on new cryptocurrencies during the recent market surge…

Chainlink Posts Strong Rebound; Why It Could Soon See a Bullish Trend Shift

Chainlink has been severely underperforming Bitcoin throughout the past few weeks, with the crypto remaining well below its 2020 highs despite Bitcoin’s strength Many altcoins have seen similar performance, as the proverbial ‘altseason’ that investors are watching for remains elusive The crypto has seen a notable rebound throughout the past few days, with its price forming what appears to be a local low around $13.00 This region has long held as support, and a continued defense of it could allow for significantly further upside One analyst is noting that the…

Kim Dotcom Wants to Fund Bitcoin Cash Development

Key Takeaways Kim Dotcom plans to fund development on Bitcoin Cash. He says that the coin is undervalued based on the amount of transactions that it currently performs. The coin will also be used in his upcoming content monetization service, K.im, set to go live in Q4 2021. Share this article Kim Dotcom, founder of the infamous file sharing site Megaupload, has announced plans to fund Bitcoin Cash (BCH) development. I just had an online meeting with 10 talented coders who sent me their CV’s yesterday to brainstorm about apps…

Arca secures $10M in Series A funding as traditional financiers back crypto

Arca, an emerging digital-asset manager, has secured $10 million in Series A funding to bootstrap the next phase of its business strategy — one that could bridge the gap between traditional finance and cryptocurrencies.  In a Wednesday press release, Arca said the funding round was led by venture capital firm RRE Ventures, with key contributions from Alex Tisch, president of Loews Hotels & Co, and a “coalition of financiers led by Littlebanc Advisors.” Arca sai it will use the funding to enhance its infrastructure and digital service offerings, as well…

CME’s Bitcoin futures facilitated over 11 million BTC in volume last year

The Chicago Mercantile Exchange, or CME, has recorded significant volume for its Bitcoin (BTC) futures trading product over the course of the last 12 months. “More than 2.2+ million contracts were traded in 2020,” a CME representative told Cointelegraph. Each cash-settled Bitcoin futures contract at the CME is worth the dollar value of 5 Bitcoin. The trading hub recorded higher than normal numbers as Bitcoin’s price heated up in December 2020 following a break of its 2017 all-time price high of $19,892 on Dec. 1. “BTC average daily volume (ADV) reached…