Has Russia Truly Made Cryptocurrency Mining Legal?
Russian President Vladimir Putin recently signed new laws to regulate cryptocurrency mining in Russia. These laws create a framework for mining operations, yet experts warn they don’t fully “legalize” the industry. Instead, the legislation sets controls and restrictions. The first law, signed in August, defined terms like mining and mining pools and imposed requirements on […]
What’s Causing Today’s Drop in the Crypto Market?
Today, the cryptocurrency market saw a decline, with total market capitalization slipping by 1.33% to $2.3 trillion as of Nov. 1. Leading crypto asset Bitcoin dropped 4.3%, reaching around $69,193, while Ether, the second-largest cryptocurrency, fell 5.4%, trading near $2,495 at the time of writing. Let’s break down the primary drivers behind today’s downward trend. […]
Bitcoin Traders Move $4B to Exchanges Amid BTC Price Drop Below $70K
As Bitcoin’s price dipped below $70,000, many short-term holders (STHs) sold off their holdings, causing a stir in the market. New data from on-chain analytics platform Glassnode shows that on October 31 alone, STHs sold a massive 54,000 BTC, marking the largest sell-off since April. The recent price reversal near all-time highs left opportunistic traders […]