Bitcoin’s carbon footprint hard to estimate

The debate around the environmental impact of the Bitcoin mining ecosystem is heating up once again as academics have provided a fresh dose of perspective on the subject. In an opinion piece written by Noah Smith, a former assistant finance professor turned columnist, took aim at the Bitcoin (BTC) mining industry in March, suggesting that the constantly growing energy consumption of the network is simply unsustainable. Smith’s belief is that more countries will clamp down on Bitcoin mining as they use more power, given that the increasing price of BTC…

The major Ethereum support area is $1,800 but weaker than Bitcoin‘s — analyst

The price of Ether (ETH) is hovering near its all-time high once again, while Bitcoin (BTC) is still far from surpassing its record high at $60,805. But despite ETH demonstrating strong technical momentum and entering price discovery, on-chain analysis finds that its support is “narrower” than Bitcoin. Simply put, ETH faces a bigger risk of seeing a deeper pullback than Bitcoin in the foreseeable future, if the market turns around. USD cost of Ethereum held since November 2020. Source: Chainalysis, Phillip Gradwell Why does Ethereum have a weaker support area…

Bitcoin’s $1 trillion market holds for 10 days straight

More than 10% of BTC supply has been moved while Bitcoin’s market capitalization has been more than a trillion dollars since March 26, indicating strong support in the middle and upper-$50,000 price range. According to the April 5 ‘Week on Chain’ report from on-chain analytics provider Glassnode, Bitcoin has enjoyed a $1 trillion market capitalization for more than one week for the first time. “This is a strong vote of confidence for Bitcoin and the cryptocurrency asset class as a whole,” the report said. Glassnode also noted that 1.98 million BTC…

ETH smashes records, Bitcoin’s brilliant quarter, PayPal’s big move

Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This Week ETH breaks record all-time high amid fresh price surge Ether? Record high! Binance Coin? Record high! Polkadot? Record high! Bitcoin? Flat as a pancake! Altcoins have been in the driver’s seat this week, with Ether breaking $2,100 for the very first time — besting the…

Bubble or a drop in the ocean? Putting Bitcoin’s $1 trillion milestone into perspective

On Feb. 19, Bitcoin’s (BTC) market capitalization surpassed $1 trillion for the first time. While this was an exciting moment for investors, it also concerned investors that the asset is in a bubble. Although a handful of listed companies ever achieved this feat, unlike gold, silver, and Bitcoin, stocks potentially generate earnings, which in turn can be used for buybacks, dividends, or developing additional sources of revenue. On the other hand, as Bitcoin adoption increases, those same companies will likely be forced to move some of their cash positions to…

Uniswap’s daily fee generation tops Bitcoin’s by $1.7 million

The world’s top decentralized exchange, Uniswap, is currently beating out Bitcoin’s daily fee generation by more than 50%. According to the data tracking website, CryptoFees, the leading Ethereum-powered decentralized exchange Uniswap has generated more than $4.8 million worth of fees over the past 24 hours. This has propelled the automated market maker into second place above Bitcoin — which has generated just $3.1 million. The top network by daily fees is Ethereum with $16.5 million — which beats out the other 30 other networks tracked by CryptoFees combined. It appears…

Stock-to-flow creator doesn’t think Bitcoin’s bull market is done

Bitcoin’s price seems to have stalled below $60,000 after attaining new all-time highs earlier in March. PlanB, a crypto analyst active on Twitter, thinks Bitcoin (BTC) may still have a lot of room to gallup however.  “IMO we are only ~4 months into the bull market and nowhere near the end of it,” PlanB tweeted on Friday. “Bitcoin is just getting started,” he added, showing Bitcoin’s current path on one of his Stock-to-Flow charts. Multiple Stock-to-Flow models exist for Bitcoin which show Bitcoin’s price path in line with its halving events…

Bitcoin’s lower lows worry traders — But is the BTC bull market really in danger?

Bitcoin’s (BTC) price has seen massive gains in recent months as the price of Bitcoin accelerated from $11,000 to nearly $62,000. However, such impressive rallies also include relatively calm periods of price action.  These periods are consolidative and are needed for the market to find a new floor. In bull markets, bullish continuation is likely after these periods of ranging before another leg up can happen.  Currently, Bitcoin’s price seems to be in such a period just over a week after hitting all-time highs above $61,000.  $53K level has to…

Bitcoin’s new use case? A report card for how the US handles the dollar

Throughout the middle of March, many Americans received stimulus checks from the government, and while the payments — $1,400 for every U.S. citizen earning less than $80,000 annually — will be a blessing for millions in desperate economic straits as a result of the COVID-19 crisis, it has raised again the specter of inflation. And as with many other things, this too has a Bitcoin (BTC) angle. On March 15, Galaxy Digital CEO Mike Novogratz proposed on NBC’s Squawk Box a new role for Bitcoin in light of recent stimulus…

Bitcoin’s next move, Elon Musk’s promotion, the toilet paper NFT

Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This Week Bullishness for Bitcoin continues despite its struggle to reclaim $60,000 Bitcoin dazzled us all last Saturday with a dramatic surge to new all-time highs at $61,683.86. But the market spent little time in record territory, with a sharp pullback taking prices to lows of $53,555.03…