DEXs growing faster than CEXs but Binance still sees 171M visitors in a month

A new Chainalysis report shows that the number of decentralized exchanges (DEXs) is growing faster than all other types of crypto exchanges. But Similar Web data shows centralized exchanges are far from unpopular, with Binance seeing 171 million visitors in October. Chainalysis published a report on crypto exchanges on Nov. 11 and provided an analysis by breaking the exchanges down by their business models including DEXs, CEXs, over-the-counter (OTC) brokers, derivatives platforms and high-risk exchanges with minimal know your customer (KYC) requirements. According to the data, the number of DEX’s…

Bitcoin’s Taproot Upgrade Should Occur On Saturday

Key Takeaways Bitcoin’s Taproot update is expected to occur on Saturday. The upgrade will improve Bitcoin’s privacy and programmability while making transactions faster and less expensive. Hype around Taproot may have helped Bitcoin achieve new all-time highs this week. Share this article Bitcoin’s long-awaited Taproot update will occur in the coming days, with most sources suggesting Saturday as its activation date. What Is Taproot? Taproot is an upgrade that will improve Bitcoin’s capacity for scripting, bringing it in line with competing blockchains like Ethereum that already have programmable smart contracts.…

Analysts say Bitcoin price ‘dips are transitory,’ suggesting BTC will soon head to $75K

Volatility is the name of the game in the cryptocurrency market and the Nov. 11 evening sell-off in the price of Bitcoin (BTC) is a reminder that new all-time highs are often followed by sharp whipsaws to underlying support levels.  Data from Cointelegraph Markets Pro and TradingView shows that after dropping to a low near $62,800 late on Nov. 10, the price of Bitcoin managed to claw its way back up to the $65,000 level where bulls now look to consolidate and regroup for another push higher. BTC/USDT 4-hour chart.…

Is The Dollar Index Making New 2021 Highs Dangerous For Bitcoin?

The recent nerves in the stock market and macro world has caused the dollar to surges to a new 2021 high, just as Bitcoin continues to set new records.  But is the greenback’s awakening a dangerous situation for cryptocurrencies, or is something else afoot? BTC Barely Reacts As DXY Taps New 2021 High Bitcoin price is in price discovery mode, after breaking its former high set earlier in the year. The cryptocurrency is pitched as a replacement for gold, and even the dollar – the current global reserve currency.  Cryptocurrencies,…

For Universal’s NFT Band, Music Is Second to Brand Identity

On Thursday, Universal Music Group (UMG) announced it had signed Kingship – not a musician, but a collection of four anthropomorphic non-fungible tokens (NFT). Billed as a “metaverse group,” Kingship is a partnership between UMG and the NFT investor Jimmy McNelis, who owns the four tokens in question. Conceptually, it’s a little like Gorillaz, the “virtual band” created by electronic musician Damon Albarn in the late 1990s. Each image comes along with its own fabricated backstory. The difference is that where Gorillaz was the brainchild of a musician, Kingship is…

Doctors Without Borders is now using blockchain tech for medical record storage

At a November 11 press conference, blockchain- based document security company Transcrypts announced a partnership with Doctors Without Borders, or DWB, that began on October 14th. Working together, they have already uploaded 6500 immunization records to the blockchain, with a goal of 76000 by 2022. Most of the recorded immunizations are COVID 19 vaccines, but the company stated that the eventually the goal is to store all patient medical records on the blockchain, where they will be accessible from a patient’s phone. The nascent California based startup was founded last…

Bitfarms expands to US, plans green crypto mining operation in Washington

Canadian Bitcoin mining company Bitfarms is planning to build its first data center in the United States following the purchase of a land plot in Washington State. In a Nov. 11 announcement, Bitfarms said it aimed to establish mining operations in the U.S. capable of 620 petahashes per second using 6,200 Bitmain rigs fully powered by hydroelectric energy. The firm has already purchased a 24 megawatt hydro power farm in Washington for $26 million, but plans to expand to 99 MW by developing additional farms in the area. Bitfarms CEO…

Crypto miner Hut 8 surpassed 5K Bitcoin held in reserves

In its third-quarter earnings release, Canadian cryptocurrency miner Hut8 announced that it surpassed its goal set earlier this year of holding 5,000 Bitcoins (BTC) in reserves through mining. Its Bitcoin balance now amounts to 5,053, for a total market value of $430 million. During the quarter, Hut 8 generated 50.34 million Canadian dollars (CA$) in revenue and CA$23.37 million in net income, up from CA$5.75 million in revenue and a loss of CA$0.90 million in the prior year’s quarter. The company hosts a sizable fleet of Application-Specific Integrated Circuit, or ASIC, machines used for…