Category: Blockchain

One of the Big Four auditing firms, Ernst & Young (EY), has increased its investments in blockchain technology, with a new injection of $100 million in funding. As announced by the firm, the decision to increase investments is due to the rise in demand for blockchain-based products. The funds will be used to fund blockchain

Bitcoin (BTC) price experienced another bumpy transaction date, leading the price of BTC to drop to the lows of $42k and gained some momentum back at $45,181 at the time of writing, according to CoinMarketCap. BTC was confronting headwinds triggered by Elon Musk’s tweets recently about Tesla abandoning BTC payments citing environmental concerns.  However, Bitcoin long-term investors considered

The global cryptocurrency market is just beginning to recover from the steep correction witnessed over the weekend, a situation that was sparked by Tesla’s rejection of Bitcoin as a mode of payment. While some cryptocurrencies are still battling to regain their base, decentralized finance (DeFi) protocols, Aave (AAVE), and Polygon (MATIC) are soaring past their

Yassine Elmandjra, an analyst at Ark Investment Management company, said that Elon Musk’s concerns about Bitcoin’s energy usage were “misguided.” Last week, Elon Musk, the founder and CEO of Tesla Inc., caused an uproar in the crypto space over his concern that Bitcoin mainly relies on fossil fuels for its energy needs. He further said

A start-up electric vehicle company Fisker Inc. (NYSE: FSR) announced Monday that the company will not accept Bitcoin (BTC) as an investment due to environmental impacts caused by Bitcoin mining. Fisker’s CEO Henrik Fisker accepted a program interview with CNBC. He said that Bitcoin (BTC) is not “sustainable” and “environmental-friendly” enough due to high electricity consumption during

Elon Musk, the Chief Executive Officer of Tesla, came under fire over the weekend when he revealed that the company had decided to stop accepting Bitcoin payments due the excessive energy consumption needed for Bitcoin mining. The announcement triggered a massive drop in Bitcoin’s price, where the cryptocurrency went from a high of $57,939.36 to

After hitting highs of $4,350 recently, Ethereum (ETH) has dropped by 9.4% in the last 24 hours to trade at $3,280 at the time of writing, according to CoinMarketCap. The crypto market has experienced a steep plunge based on Elon Musk’s tweets, which have created a headwind for Bitcoin.  Nevertheless, Ethereum hodlers are showing bullish

Ethereum (ETH), the world’s second-largest cryptocurrency by market cap, initially defied the freefall by Bitcoin (BTC) and the broader market, surging to a New All-Time High (ATH) well above $4,000. The cryptocurrency industry is now experiencing a remarkable shift trending, the market fears the trend is heading to the dreaded bear season.   The supply of

During the previous few days, the Bitcoin bulls have not been able to defend the 100-day Exponential Moving Average (100-EMA) of around $51K. Bitcoin did not regain its rising momentum. The decline of BTC accelerated the correction of the entire crypto asset. Ethereum (ETH) fell by 7.07%, Binance Coin (BNB) by 8.86%, and Cardano (ADA)

Elon Musk’s tweets have served to create headwind for Bitcoin, sending the cryptocurrency on a steep plunge. Recently, Musk implied that Tesla may sell off its Bitcoin holdings. He also slammed BTC mining operations, which are highly concentrated in China. Reuters reported on Monday that Musk raised concerns about Bitcoin’s mining operations while responding to a