Bitcoin Drama, Ether Rally, Teen Held Over Twitter Hack: Hodler’s Digest, July 27–Aug. 2

Bitcoin Drama, Ether Rally, Teen Held Over Twitter Hack: Hodler’s Digest, July 27–Aug. 2


There’s been plenty of drama on the crypto markets this week — Bitcoin surged to $12,000 only to crash spectacularly, and Ether has continued to rally.

Coming every Sunday, 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.

Bitcoin rallies 13% to break through $11,000

After weeks of stagnation, Bitcoin finally roared to life this week. Late on Monday, the world’s biggest cryptocurrency surged to a new 2020 high of $11,394. The bull run meant almost 95% of Bitcoin’s supply was in profit. Bloomberg released a mid-year report predicting BTC could soon rise above $12,000, with on-chain and off-chain indicators suggesting that the asset will appreciate. Indeed, hodlers didn’t have to wait long for the next surge. As the weekend began, BTC surpassed $11,600 for the first time in 12 months, prompting some investors to believe there would be little resistance until $15,000. There was further excitement as Bitcoin surged even further to $12,000 — but unfortunately for the bulls, the market drama was far from over. On Sunday, Bitcoin plunged by 13% within minutes, taking it as low as $10,550. Low trading volumes on weekends and a market that was heavily swayed to longs or buyers might have been to blame for the sudden cascade in liquidations. With the Fear and Greed Index hitting a score of 80 — indicating “Extreme Greed” — the question now is whether the crypto world needs to brace itself for a larger pullback.

Three reasons why Ethereum price rallied 75% to hit a two-year high at $400

The other big story has been Ether’s extraordinary march from $225 to $400 in the space of two weeks, coinciding with its fifth anniversary. Many investors believe ETH’s momentum has been buoying the entire market — and possibly even pushing BTC upwards. Three factors appear to be triggering the strong rally: decentralized finance, the upcoming Ethereum 2.0 upgrade and the prolonged rally in the altcoin market. With Ether reaching two-year highs, some crypto traders have warned that a pullback may be on the horizon. Edward Morra said: “Yeah, parabola coming out of another parabola is a sight to behold tbh. Also, this isn’t sustainable and will correct. If you are new to this space — buy dips, don’t FOMO at the top.” According to the market data aggregator Messari, Ether is now the best-performing asset class of 2020. However, there could be some clouds on the horizon. Kosala Hemachandra, the founder of MyEtherWallet, has told Cointelegraph that the fully-fledged version of Ethereum 2.0 could be years away after suffering repeated delays.

XRP is up 30% and has 30 new whales

Bitcoin and Ether aren’t the only digital assets posting outsized gains. Just look at XRP, which has managed to reclaim its position as the world’s third-largest cryptocurrency in terms of market cap. Its value has risen by 32.74% in the past week — that’s more than BTC and ETH put together. The number of accounts holding more than 1 million XRP (about $287,000 at the time of writing) has increased by 3.7%, with 30 new whales appearing over the last two weeks. There’s no obvious reason behind the recent increase in whales except for speculation. Despite XRP leapfrogging Tether in the rankings, it is worth remembering that Ripple is also the currency in court facing a class-action lawsuit from investors.

U.S. printed more money in one month than in two centuries

Now here’s a stunning statistic: The U.S. printed more money in June than in the first two centuries after its founding. That’s according to Pantera Capital CEO Dan Morehead, who has been looking into the levels of quantitative easing that the Federal Reserve has deployed to combat the economic fallout from the coronavirus pandemic. In a letter to investors, he said: “[In June] the U.S. budget deficit — $864 billion — was larger than the total debt incurred from 1776 through the end of 1979.” Morehead made it clear that his company sees Bitcoin as a solution for the current crisis — and said the inflation caused by rampant QE as the main reason people should “get out of paper money and into Bitcoin.”

A 17-year-old was just arrested in connection with Twitter’s recent hack

It’s emerged that a teenager is among those who have been taken into custody in relation to Twitter’s massive hack. The 17-year-old was arrested in Tampa, Florida, and has been accused of being the mastermind behind the biggest security and privacy breach in the social network’s history. The devastating exploit saw many top Twitter accounts breached on July 15 — including profiles belonging to Elon Musk, Joe Biden and Bill Gates. Hillsborough State Attorney Andrew Warren said: “Make no mistake, this was not an ordinary 17-year-old. This was a highly sophisticated attack on a magnitude not seen before. It could have been an extremely high amount of loss.” Two others have been arrested. One of them is 19-year-old Briton Mason Sheppard, also known as “Chaewon.” The other is 22-year-old Nima Fazeli, who lives in Florida and is also known as “Rolex.”

At the end of the week, Bitcoin is at $11,077.55, Ether at $367.82 and XRP at $0.285. The total market cap is at $334,070,081,760.

Among the biggest 100 cryptocurrencies, the top three altcoin gainers of the week are HedgeTrade, Ocean Protocol and XRP. The top three altcoin losers of the week are Ampleforth, The Midas Touch Gold and ABBC Coin.

For more info on crypto prices, make sure to read Cointelegraph’s market analysis. 

“Crucial threshold is still the $11,200 level. Breaking through and $11,500–11,700 is next!”

Michaël van de Poppe, crypto trader

“‘We will never see BTC below $10,000 again’, Episode 13. Last episode lasted one day.”

Rafael Schultze-Kraft, Glassnode chief technical officer

“I think the full reality of ETH 2.0 is at least a couple of years away.”

Kosala Hemachandra, MyEtherWallet founder

“It’s been very slow going with blockchain in real estate, despite it being touted as a game-changer for a number of years now.”

Matthew McAuley, JLL director

“With innovations and hype around DeFi, we started to see prices decouple within the crypto space. Ethereum is an enabler and we saw a much stronger gain over the last few weeks, alongside gains from other DeFi tokens.”

James Li, CryptoCompare research analyst

“Gold is absolutely transportable and harder to confiscate than Bitcoin.”

Peter Schiff, crypto skeptic

“$28,000 is in play before we see a pullback – and then we’re heading to six figures.”

Max Keiser, Keiser Report host

“The 2019 Bitcoin end-of-day high was $12,734, based on Bloomberg pricing. Unless advancing addresses abruptly reverse, history suggests Bitcoin may gravitate toward that level.”

Bloomberg mid-year report

Winklevoss twin: Next Bitcoin bull run will be “dramatically different”

Cameron Winklevoss, the founder of the Gemini crypto exchange, has predicted that Bitcoin’s next bull run will be “dramatically different” to what we’ve seen before. On Twitter, he wrote: “Today, there’s exponentially more capital, human capital, infrastructure, and high-quality projects than in 2017. Not to mention the very real specter of inflation that all fiat regimes face going forward. Buckle up!” Earlier this week, the billionaire warned that “not owning Bitcoin today will be a worse investment decision than not investing in AAPL, GOOG, AMAZN and MSFT in the early 2000s.” His twin brother, Tyler, has also been getting involved in the tweeting spree, writing: “Bitcoin is not just an investment, it’s an indication of who has a growth mindset and who doesn’t.” 

27 key execs at PlusToken scam are reportedly arrested

As many as 27 core PlusToken team members have been arrested by police in China. It’s a significant development in the case, which has gained infamy for being one of the largest scams in the crypto industry’s history. Estimates suggest that investors lost $5.7 billion — and local industry publication ChainNews has reported that another 82 core members of the scheme have also been arrested. PlusToken was initially presented as a South Korea-based exchange offering high investor returns. Eventually, the entire operation was exposed as a scam after several million participants found they were unable to withdraw their investment.

Hackers have been using Dogecoin to deploy malware for six months and no one noticed

Hackers are actively relying on the Dogecoin blockchain to expand a malware payload called “Doki,” according to cybersecurity researchers at Intezer. It’s claimed Doki is a fully undetected backdoor that abuses the DOGE blockchain “in a unique way” to breach cloud servers. Intezer says that using Dogecoin to deploy a crypto-unrelated malware may be “quite resilient” to both law enforcement and security products. That’s why Doki has managed to stay undetected for over six months, despite having been uploaded to the VirusTotal database in January. The researchers added that such an attack is “very dangerous,” as it can take just a few hours to be infected by this campaign.

Tokenized real estate hasn’t lived up to the hype, property researcher says

As the initial coin offering boom subsided and the 2018 crypto bear trend began to set in, many analysts predicted that security tokens may drive the next market cycle. The vast capital locked in the real estate sector was eyed hungrily for tokenization — but with the industry’s attention focused on the Bitcoin halving, Ethereum 2.0 and DeFi, it appears tokenizing property is no longer the flavor of the month. Matthew McAuley, the director of global research at JLL, wrote in The Investor: “It’s been very slow going with blockchain in real estate, despite it being touted as a game-changer for a number of years now.” Despite properties being sold using crypto in 2017, with fractionalized ownership in a five-star resort being offered the following year, a lack of institutional appetite meant projects dried up in 2019. McAuley warned: “I find it difficult to believe blockchain will be as used, or as useful, in real estate as was thought initially.”

Five years since launch, is Ethereum creating a new boom?

The Ethereum network turned five years old this week. António Madeira takes a look at whether ETH is creating a new boom — and whether DeFi will suffer the same fate as ICOs.

After the U.S. Senate pros and cons on digital money — What do we do with it?

Andrew Rossow argues that the crypto industry has the best historical moment to change the discourse about digital assets and transform its reputation.

Mastercard and Visa are making bold moves toward mass crypto adoption

Global payment processors Mastercard and Visa are laying the foundations for crypto support that may drive adoption on a global scale. Gareth Jenkinson has more.

The post Bitcoin Drama, Ether Rally, Teen Held Over Twitter Hack: Hodler’s Digest, July 27–Aug. 2 appeared first on BTC Ethereum Crypto Currency Blog.


Author: By TeamMMG

Publicly Traded Firms Launch New Mining Rigs, Less Hashrate Than Competitors

Publicly Traded Firms Launch New Mining Rigs, Less Hashrate Than Competitors

Two of the top mining manufacturers from China that recently had initial public offerings (IPO) released two new mining rigs. Canaan Inc. and Ebang Communications both have shares listed on the Nasdaq stock exchange, and the two firms just launched two ASIC mining devices with hashrates up to 63 terahash per second (TH/s).

The two Chinese ASIC mining rig manufacturers Ebang and Canaan have recently released some new bitcoin mining devices. Canaan has launched the Avalonminer 1146 Pro (63TH/s), while Ebang has released the E12+ (50TH/s).

Interestingly, both firms are listed on the American stock exchange Nasdaq, while the other two powerful ASIC manufacturing competitors, Bitmain and Microbt, are not public companies yet. On the flipside, Ebang and Canaan’s new machines do not produce as much hashrate as Microbt and Bitmain’s latest units.

The Canaan Avalonminer 1146 Pro “comes with a hashrate of 63TH/s and power consumption of [around] 3276W,” according to the specifications. The new Avalonminer was announced in June and the price is only available by inquiry.

Additionally, it’s unknown what size ASIC chips are used in the new Canaan 1146 Pro model. The new Ebang E12+ does have a price tag displayed on site, as the machine is selling for $1,500 per unit. The E12+ boasts a hashrate of around 50 terahash per second and an efficiency rating of around 2500W off the wall.

Now the E12+ has much lower power consumption than the Avalonminer 1146 Pro, but it is 13 terahash less, as far as hashrate output is concerned. Canaan’s machine has power consumption rating that is a hair less than the Microbt Whatsminer M30S++, which is a whopping 3472W off the wall according to stats.

All four of the top SHA256 mining rigs have over 3000W per unit off the wall, but they all claim to produce 95 TH/s or higher. Bitmain’s Antminers and Microbt’s Whatsminers pretty much offer double the hashrate compared to Ebang and Canaan’s new devices.

The Microbt Whatsminer M30S++ and the first iteration of the model M30S offer hashrates between 100-112TH/s, but these devices won’t ship until October. Miners can purchase Bitmain models, which are readily available especially on secondary markets. Bitmain’s Antminer two S19s produce 100-110 terahash per second. The Antminer S19 Pro (110TH/s) is the most profitable ASIC device on the market today.

Because Canaan’s pricing isn’t available yet, there are no profitability metrics provided by data analytics websites. However, Ebang’s E12+ does show that at current bitcoin (BTC) prices, the new machine is profitable by $0.80 to $2.00 per day. However, the four top machines produced by Bitmain and Microbt are taking in $5-10 per day in revenue, depending on the model.

As mentioned above, both Microbt and Bitmain have not gone public by selling shares on any principle stock markets. Although last year it was rumored that Bitmain had confidentially applied for an initial public offering (IPO), which never came to fruition.

Despite the lack of IPO status, these two firms (Microbt & Bitmain) still have a much larger market share as far as ASIC mining rig sales are concerned compared to Ebang and Canaan. Moreover, Microbt has been nipping at the heels of Bitmain, the firm that commands the largest portion of the world’s market share for ASIC sales.

Canaan and Ebang have been listed on Nasdaq, but the machines they are releasing are far less powerful than the competitors’ offerings.

Canaan’s stock isn’t doing well and each share is selling for $2.50 today, as the stock is down 7% on Saturday afternoon. Canaan shares are sold under the ticker “CAN” (NASDAQ: CAN) which went on sale on November 21, 2019, and the firm sold $90 million worth of U.S. shares. The CAN shares came out of the gate at $8.99 per share, which is a massive loss of approximately -72.19%.

Ebang’s shares are doing much better, but they haven’t been sold on the market for very long. Ebang’s “EBON” (NASDAQ: EBON) came out of the gate at $5 a share on June 26, 2020. The shares touched an all-time high of $5.50 on July 15, but EBON is down -8.59% after Friday’s market closing at $4.57 per unit.

What do you think about Canaan and Ebang’s latest mining rigs? Let us know what you think about this subject in the comments section below.

Antminer, Antminer S19 Pro, avalonminer, Avalonminer 1146 Pro, Bitcoin (BTC), Bitcoins, Bitmain, BTC, Can, Canaan, Ebang, Ebang E12+, Ebit, EBON, ipo, Microbt, mining, mining bitcoin, profits, S19, stocks, Whatsminer, Whatsminer M30S++

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Author: by admin

Bitcoin Cash Price Up 15.6% This Week (BCH)

Bitcoin Cash Price Up 15.6% This Week (BCH)

Bitcoin Cash logoBitcoin Cash (CURRENCY:BCH) traded 9.8% lower against the dollar during the one day period ending at 16:00 PM ET on August 2nd. During the last week, Bitcoin Cash has traded up 15.6% against the dollar. One Bitcoin Cash coin can currently be bought for about $285.86 or 0.02572296 BTC on major cryptocurrency exchanges including Livecoin, Binance, BitBay and Koinex. Bitcoin Cash has a market cap of $5.28 billion and $3.41 billion worth of Bitcoin Cash was traded on exchanges in the last 24 hours.

Here is how similar cryptocurrencies have performed during the last 24 hours:

  • Bitcoin (BTC) traded down 5.4% against the dollar and now trades at $11,112.95 or 1.00000000 BTC.
  • Steem (STEEM) traded 4% lower against the dollar and now trades at $0.21 or 0.00001847 BTC.
  • Unobtanium (UNO) traded down 4.3% against the dollar and now trades at $68.36 or 0.00615125 BTC.
  • Namecoin (NMC) traded down 5.4% against the dollar and now trades at $0.37 or 0.00003369 BTC.
  • Counterparty (XCP) traded up 3.9% against the dollar and now trades at $1.11 or 0.00009953 BTC.
  • What future awaits cryptocurrencies?
  • Color Platform (CLR) traded 17.4% lower against the dollar and now trades at $0.0162 or 0.00000145 BTC.
  • Crown (CRW) traded down 2.5% against the dollar and now trades at $0.0658 or 0.00000592 BTC.
  • Terracoin (TRC) traded down 0.9% against the dollar and now trades at $0.0627 or 0.00000564 BTC.
  • DAOBet (BET) traded down 10.5% against the dollar and now trades at $0.0083 or 0.00000075 BTC.
  • PIXEL (PXL) traded 4.6% lower against the dollar and now trades at $0.0123 or 0.00000111 BTC.
  • Bitcoin Cash Profile

    Buying and Selling Bitcoin Cash

    Bitcoin Cash can be traded on the following cryptocurrency exchanges: CEX.IO, QBTC, Bitsane, FCoin, Bibox, Bitbns, CoinExchange, Coinhub, RightBTC, Bittrex,, Cryptopia, Mercatox, CoinFalcon, Koinim, Bit2C, Tidex, BitBay, Upbit, Bitbank, C2CX, Stellar Decentralized Exchange, Trade Satoshi, COSS, HBUS, Stocks.Exchange, WEX, DSX, CPDAX, Altcoin Trader, IDCM, Waves Decentralized Exchange, BiteBTC, BTCC, Liqui, Gatecoin, Bitfinex, CoinEx, Coinsuper, CoinTiger, Bleutrade, Trade By Trade, Independent Reserve, UEX, Coinbe, OTCBTC, Koineks, Bisq, YoBit, Kuna, Coindeal, Braziliex, Bitso, Coinrail, ACX, CoinEgg, Cobinhood, OKCoin International, WazirX, Exmo, Kucoin, Zaif, BTC Trade UA, Fatbtc, HitBTC, DragonEX, Vebitcoin, Binance, CryptoBridge, BX Thailand, Kraken, Bit-Z, BitMarket, B2BX, Zebpay, TOPBTC, Coinnest, xBTCe, ABCC, MBAex, Bitinka, Coinone, Exrates, Instant Bitex, BTC Markets, SouthXchange, CoinBene, EXX, Negocie Coins, Bithumb, Crex24,, Ovis, BigONE, ChaoEX, Coinsquare, Graviex, Coinbase Pro, Livecoin, Huobi, Korbit, GOPAX, Liquid, Indodax, cfinex, OKEx, Iquant, Coinfloor, Poloniex, Cryptohub, Bittylicious, Cryptomate, Mercado Bitcoin, Buda, Bitstamp, bitFlyer, Sistemkoin, BitForex, QuadrigaCX, Koinex, ZB.COM, Allcoin and Coinroom. Investors seeking to acquire Bitcoin Cash using U.S. dollars directly can do so using Coinbase, GDAX or Gemini.

    Receive News & Updates for Bitcoin Cash Daily – Enter your email address below to receive a concise daily summary of the latest news and updates for Bitcoin Cash and related cryptocurrencies with’s FREE CryptoBeat newsletter.


    Author: ABMN Staff

    Bitcoin Drama, Ether Rally, Teen Held Over Twitter Hack: Hodler’s Digest, July 27–Aug. 2

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