Bitmain, a Chinese manufacturer of cryptocurrency mining equipment, has been forced to stop its business in China from Oct. 11 following the crypto ban imposed by local authorities. In addition to China’s blanket ban on crypto operations, the company has attributed the move to stop shipping Bitcoin (BTC) and cryptocurrency mining rigs as a response to China’s carbon-neutral policies. According to Bitmain’s announcement: “From October 11, 2021, Antminer will stop shipping to mainland China. For customers in mainland China who have purchased long-term products, our staff will contact them to provide alternative solutions.” While the company has yet to reveal …

The run-up in the price of Shiba Inu (SHIB) so far in October has pushed the SHIB token to become the 20th largest digital asset by market capitalization. Shiba Inu's circulating market valuation jumped to $11.08 billion earlier this week and is currently above $10 billion, putting it in the top-20 by market cap for the first time. As a result, the Dogecoin-inspired meme cryptocurrency became more valuable than popular blockchain projects like Stellar (XLM), Polygon (MATIC) and Tron (TRX). The growth in Shiba Inu's valuation came on the heels of a tweet published by Elon Musk. On Oct. 4, …

Bitcoin’s (BTC) rally above $50,000 seems to have received a boost from institutional buyers who are looking to hedge their portfolio against increasing inflation, said JPMorgan in a note to its clients on Oct. 7. The bank’s analysts speculated that institutional investors may be preferring Bitcoin over gold as a better hedge against inflation. A recent study titled “Cryptocurrencies and the Sharpe Ratio of Traditional Investment Models” by crypto asset management firms Iconic Funds and Cryptology Asset Group showed that the addition of cryptocurrencies to any portfolio improved returns and risk-reward performance of the portfolio. Bloomberg senior commodity strategist Mike …

Shiba Inu (SHIB) has emerged as one of the best investments heading into the fourth and final quarter of 2021, with its price rising by over 390% in the first week of October. Nonetheless, the spin-off meme cryptocurrency now risks wiping most of those gains in the coming sessions. Yuriy Bishko, a Ukraine-based market analyst, discussed the potential bearish scenario based on Shiba Inu's recent price trends, which appear eerily similar to those recorded in the Dogecoin (DOGE) market earlier this year. For instance, SHIB's October price rally followed five months of consolidation inside a $0.00000398-wide price range. Similarly, DOGE's …

As the decentralized finance (DeFi) market continues to pique the interest of investors across the globe, a few incidents have shone a major spotlight on the vulnerabilities various platforms operating within this space are continually exposed to. For example, it has recently been unveiled that due to a buggy system upgrade, prominent DeFi money market Compound had put approximately $150 million worth of the native COMP tokens at risk of a third-party hack. Even though the error was recognized fairly early as Compound’s developers submitted a fix for the protocol’s bug soon after, it’s worth noting that the upgrade is …

Indian short-video sharing platform Chingari is preparing to launch its own blockchain network and social token. Chingari has completed a $19-million funding round to launch its mainnet and conduct a token sale for its Solana-based GARI token in November, the firm announced on Friday. Chingari co-founder and CEO Sumit Ghosh said that the token sale is scheduled for Nov. 2, while the mainnet launch and application integration are expected to have gone live by the end of that month. Co-led by major blockchain investors such as Republic Crypto and Mike Novogratz’s investment firm, Galaxy Digital, the new raise included over …

Meme coins were some of the earliest breakout stars at the start of this year's bull run and big-name influencers like Elon Musk and Mark Cuban helped to stoke a surge in the price of Dogecoin (DOGE). The success of DOGE eventually spawned th massive litter of dog-themed offshoots that now populate the meme coin pack. This week the pack is once again on the run after Shiba Inu (SHIB) saw a triple-digit breakout and DOGE looks ready to move higher. Bitcoin's (BTC) sudden move above the $55,000 level appears to have kickstarted the move, and even as the price …

Bitcoin (BTC) took a trip below $54,000 during Oct. 7 as traders waited to see how far a retracement of Wednesday’s $5,000 gains could go. BTC flirts with $1-trillion asset support Data from Cointelegraph Markets Pro and TradingView showed BTC/USD looking decidedly less confident Thursday, down 3% while taking aim at $53,000 — and its $1-trillion market capitalization — before recovering. The pair had hit local highs of $55,800 — its best since before the May miner rout — but it did not take long for over-optimistic markets to show signs of fatigue. With volatility still in evidence, analysts were …

Terra’s (LUNA) three-month rally saw its token rise by 674%, catapulting LUNA to the ranks of potential so-called “Ethereum killers.” LUNA has been on a tear lately because Terra’s most recent upgrade, Columbus-5, has effectively overhauled its tokenomics and brought significant changes to its technology. LUNA currently sits in fourth place in total value locked (TVL) among other blockchains, indicating its growing popularity for decentralized finance (DeFi) applications and also underpins its long-term viability. Terra is a layer-one blockchain developed by South Korean startup firm Terraform Labs and was released in January 2018. It has a payments-focused ecosystem powered by …

EOS (EOS) began a descending trend 53 days ago and despite the recent 27% weekly gain, the altcoin is not showing any signs of a reversal. As a result, investors are questioning whether the former top-5 cryptocurrency has what it takes to turn around after Daniel Larimer, CTO of the development company behind EOS, resigned in late 2020. The emergence of competing proof-of-stake smart contract platforms like Solana (SOL), Polkadot (DOT) and Avalanche (AVAX) possibly weighed on this 2017-era project. One potentially bullish catalyst could be the fact that Block.one, the company responsible for the EOS token launch, owns over …

Protocol upgrades are one of the biggest drivers of momentum because they show developers' dedication to fixing bugs, incorporating user requests and adding new features that make the protocol competitive and shore up the token's value. One project that has seen its token price rally to a new all-time high following the launch of a highly anticipated upgrade is Terra (LUNA), a blockchain protocol that uses fiat-pegged stablecoins like TerrUSD (UST) to create a global payments system. Data from Cointelegraph Markets Pro and TradingView shows that after hitting a low of $23.81 on Sept. 21, the price of LUNA surged …

Following an overwhelmingly positive response to a Twitter poll on Sept. 21, CEO of AMC Theater Adam Aron announced Wednesday that the chain would officially accept Dogecoin payments for digital gift cards via BitPay Wallet. The Dogecoin community — notoriously passionate for adoption initiatives — tweeted in droves to advocate for the asset's integration within the theater's payment options. Following their success, users can now purchase up to $200 worth of digital gift cards per day. These cards can then be redeemed by theatergoers in cinemas across the United States. Aron was pleasantly surprised by the mass attention, reporting over …