This week in the amazing world of crypto it seems that the next undaunted wave of institutional firms interest is focused on mining, even countries are venturing into crypto mining! That’s no surprise as some Bitcoin miners have earned a record of $64 million in one day!
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What’s even more thrilling, Brazil has given the green light to Latin America's first bitcoin ETF. And the latest newcomer into NFTs is Binance exchange with a new contest #MyFirstNFT: Win A Limited Edition NFT Featuring Your Artwork! This contest that ends on March 28 invites artists, creators, and crypto creatives to share their best artwork with the theme of “The Tipping Point” using the hashtag #MyFirstNFT.
NFTs surpassed blockchain, cryptocurrency, and DeFi in Google search interest:
We noticed the term NFT has overtaken #blockchain, #cryptocurrency, and #DeFi in Google search interest.— CoinSmart (@CoinSmartCA) March 18, 2021
In fact, it took #NFTs a little over a month to become the hottest thing in the crypto space... (1/4) pic.twitter.com/yzCHrGm7Lm
As crypto derivative products are gaining increasing popularity, the question on many peoples' lips has been:
As Bitcoin’s bullish run continues to rock on, miners are gaining record numbers of rewards.
#Bitcoin Miner revenue priced in USD has hit an All Time High of $52.3M per day.— _Checkmate 🔑⚡🎟🌱checkonchain.com (@_Checkmatey_) March 14, 2021
This is despite the BTC issuance dropping post-halving 3 to only ~900BTC/day.
Since the halving, transaction fees have consistently sustained more than 75-100 BTC/day.
Data: @glassnode pic.twitter.com/QjFgnAg5E5
According to Glassnode miners earnings have soared to $54.6 million on March 3, $57.7 million on March 10, and nearly $60 million on March 12 and those revenues were recorded in the peak days of this month alone! So it was no surprise to see the shares of bitcoin mining companies like Canaan, Riot Blockchain, Marathon Patent Group, Ebang, Hive and Hut 8 Mining skyrocketing and accelerating to all time new highs.
Source: The Block Crypto Data
According to Nasdaq here are four crypto mining stocks worth checking out:
- Riot Blockchain (NASDAQ:RIOT)
- Hive Blockchain Technologies (OTCMTKS:HVBTF)
- Hut 8 Mining Corp (OTCMKTS:HUTMF)
- Bit Digital (NASDAQ:BTBT)
Crypto Charts: Bitcoin
Despite the good news, BTC (trading $57,835 at press time) price is struggling to find support above $60,000 level.
According to Cointelegraph analysts "Bitcoin seems to be consolidating its recent gains before starting the next trending move".
Crypto Charts: Altcoins
Big News: Mining FOMO Rallies among Countries, Firms
- Japanese SBI Crypto to Open Bitcoin mining Pool for Public
SBI Crypto, a wholly-owned subsidiary of Japanese SBI Holdings, decided to open its bitcoin mining pool for both institutional and individual investors.
SBI has been self-mining bitcoin, bitcoin cash, and bitcoin SV, since August 2017. This pool currently ranks #11 with a mining power of approximately 1.1 EH/s, according to the company’s release.
- Pakistani Province to build pilot hydro-powered crypto mining farms
According to a report by Reuters, Khyber Pakhtunkhwa, a Pakistani province, has decided to build 2 pilot hydroelectric-powered cryptocurrency mining farms.
“People have already been approaching us for investment, and we want them to come to Khyber Pakhtunkhwa, earn some money and have the province earn from that as well,” Zia Ullah Bangash, advisor to the provincial government on science and technology said.
- AMD Won’t Block Crypto mining on its GPUs Like Nvidia
Unlike its rival Nvidia, the American multinational semiconductor company, AMD, said it has no intentions to limit its GPUs’ cryptocurrency-mining capabilities.
- US: Kentucky Legislature Okays Bills Providing Tax, Energy Incentives for Crypto Miners
The Kentucky legislature has approved 2 proposed bills that aim to attract crypto mining companies to the state by introducing energy and tax breaks mining operations. The bills now await Governor Andy Beshear final approval.
Signal Accepts Crypto Donations
Encrypted messaging app Signal announced on twitter that they are now started accepting donations in cryptocurrency.
As a nonprofit organization, we depend on your support. If you've been patiently waiting for Signal to accept cryptocurrency donations, you no longer need to hodl back your generosity.https://t.co/1shZcAbZLi— Signal (@signalapp) March 15, 2021
Brazil Approves Latin America's first bitcoin ETF
Brazil, the largest economy in Latin America, has approved the continent’s first bitcoin exchange-traded fund (ETF).
A Nasdaq, bolsa de tecnologia dos EUA, deu destaque ao QBTC11, o primeiro ETF de Bitcoin da América Latina. pic.twitter.com/1wlAxy67e3— QR Capital (@qrcapital) March 19, 2021
This newest ETF, dubbed QBTC11, which was launched by QR Asset Management will be listed on the country's main stock exchange B3. Beside QBTC11, there are only 3 bitcoin ETF approved around the world by the Canadian authorities. The US regulatory body SEC has 4 ETF applications pending for review.
Visa Teams up with Crypto.com
Visa, the multinational credit card giant, announced a new partnership with Hong Kong-based Crypto.com to expand payment cards to Australia. Crypto.com, which has acquired a financial service license in Australia, offers cryptocurrency exchange, payments that is now available in 31 countries including the U.S, Canada, Europe and in the Asia-Pacific region.
UAE Gives Crypto Businesses the green light to Set up in Dubai’s New Free Zone
As Albawaba reported, Dubai has opened its arms wide open to embrace crypto firms who mull operating, issuing, listing, and trading crypto assets. With a new agreement, Dubai is way closer to become the first city fully powered by blockchain. Also, Dubai Free Zone is officially the First UAE government entity to provide a fully regulatory framework for cryptocurrency.
- Binance: Register an account at Crypto exchange Binance via gift link to receive a share of $100,000 in TRX, BTT, WIN, JST and SUN.
- Coinmarketcap: Take this quiz to earn $CKB Tokens.
- Drive Fiat 500 and earn crypto while you drive
- Deeper Network: This Silicon Valley project aims to build a more secure, private and fairer internet for everyone.
Events to Keep An Eye On:
TOKEN2049 (Mar 23, 2021 - Mar 24, 2021) Hong Kong
Bitcoin Soars to Record $60K, NFT Mania Hits the Art World
Turkey to Regulate Cryptocurrencies, Markets Re-Enter Positive Zone
Bitcoin Dips to $46K, Cardano Becomes World’s Third Largest Cryptocurrency
Disclaimer: The Cryptocurrency market is considered highly speculative, risky, and largely unregulated. Anyone mulling investing in it, should be aware there's a risk of losing their entire investment.
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