Author: Finbold

Since the beginning of the year, Bitcoin’s overall market value has dropped by $62 billion, or almost 7%, from $878 billion on January 1 to $816 billion on Thursday, January 6. With a 39.7% share of the global cryptocurrency market dominance, Bitcoin is now selling for $43,080, a decrease of 7.10% in the past 24 hours and 8.38% in the previous week, according to CoinMarketCap statistics. Expert opinion Immediately upon publication of the minutes of the December meeting of the U.S. Federal Reserve (Fed), the cryptocurrency market plunged. After starting a record asset-buying program in 2020, when the coronavirus pandemic first surfaced, the government…

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Malaysian authorities have arrested a man for allegedly carrying illegal Bitcoin mining operations within the Manjung region as police extend a crackdown on the activity. In the raid, police arrested the suspect and confiscated equipment used in the activity including 1,720 Bitcoin mining machines, with total seized items totalling about RM3.5 million ($840,100), Bernama reports. The raid that had targetted 75 premises also resulted in the seizure of 15 units of monitors, 22 computer CPUs, 16 keyboards, 56 modems, a Toyota Hilux vehicle, 44 fans, seven closed-circuit television (CCTV) cameras alongside a laptop. The suspect was identified as a 28-year old…

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As the year draws to a close, the number of cryptocurrencies has increased in parallel with the growth of the cryptocurrency market. When employing a web archive tool, Finbold was able to determine that the number of crypto assets was 8,153 on January 1, 2021, based on the data obtained. By comparison, the number of digital assets as of December 31 stands at 16,223, indicating 8,070 new cryptos were added since the beginning of 2021 alone, representing a 98.98% increase over the previous year and almost double the initial amount, according to CoinMarketCap statistics. Each day, around 21 new cryptocurrencies are introduced to the market…

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Despite meme cryptocurrency Shiba Inu recording tremendous growth in 2021, the token is ending the year on a mixed note, registering capital outflows alongside adding new holders. Between December 1st and December 30th, SHIB added 81,305 holders from 1,021,997 to 1,103,302. However, the holders’ metric growth was not replicated on the coin’s market capitalization, which plunged 24.96% during the month. At the start of the month, SHIB’s market cap stood at $24.79 billion, while as of December 31st, the figure was $18.60 billion.  Elsewhere, the coin has not been spared of the general crypto market correction, with the price dropping over 24%…

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As cryptocurrency adoption moves closer to general acceptance, participants in the crypto space are implementing systems to help facilitate the transition. Indeed, as the current demand for assets such as Bitcoin rises, the number of ATMs that offer digital currencies, in turn, has also increased. In light of this growing demand for crypto assets, almost 20,000 new Bitcoin ATMs have been installed so far in 2021, with more than 50 ATMs being added every day. According to data acquired by Finbold, As of January 1, 2021, there were 14,040 Bitcoin ATMs in operation; as of Tuesday, December 28, 2021, there are 33,850 ATMs in action,…

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The Cardano blockchain has seen significant growth over the past year, an aspect that is evident with the number of wallets for the network’s native token ADA. Within a year, the number of wallets has grown over 1,200% from last Christmas’ figure of 190,000 to 2.5 million wallets as of December 24 2021, data by Cardano Foundation indicates. Drivers for Cardano wallet growthThe milestone that has been achieved as the network is experiencing growth powered by several upgrades with ADA rising to become the 6th largest cryptocurrency by market capitalization. Overall, the upgrades have acted as a catalyst for ADA’s…

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A Dogecoin developer has minted the cryptocurrency’s first-ever NFT on its blockchain, confirming the transaction on Twitter. The person behind the NFT, Inevitable360, garnered attention from not only other developers but also the Dogecoin founder, Billy Markus. For his hard work, Inevitable360 was tipped with SoDogeTip, a tipping bot launched earlier this month available on both Twitter and Reddit. https://twitter.com/inevitable360/status/1470414541490110472?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1470414541490110472%7Ctwgr%5E%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Ffinbold.com%2Fdoge-developer-mints-first-ever-nft-on-the-dogecoin-blockchain%2F The developer confirmed the mint only cost 0.1 DOGE (or $0.0018), a stark contrast to NFT minting fees on blockchains such as Ethereum that at times can set you back hundreds of dollars. The future of Dogecoin? While it’s the first NFT…

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