Tether

POKKET: Crypto Market Update (July 4)

POKKET: Crypto Market Update (July 4)

Bitcoin is slightly up +2.5% to $34.5k, ETH is also 2.5% to $2200. Movers are AXS +34%, GRT +14%, OMG +11%, AAVE SAND +10%, nothing on the downside stands out. Bitcoin mining difficulty fell by 28% overnight, the largest drop in history as the impact of China's recent crackdown echoes through. Spot volumes on Coinbase are close to the low levels recorded back in Dec20 in USD terms; under 8k BTC traded in past 24hrs - worth noting Tether has not printed anything in the past month. Newsflow and vo…
POKKET: Crypto Market Update (June 27)

POKKET: Crypto Market Update (June 27)

Bitcoin is up 2.8% to trade $32.8k, ETH is the same trading at $1870. Movers are SNM +19%, CTSI +12%, and rest are quiet trading within +/-6% range. Slower news day, with only a few headlines. Bitcoin hash rate has recovered and is up some 5% since the China crackdown, as mining farms quickly relocated to North America and Kazakhstan; hash rates appear to only be -1.7% YoY. CoinDesk is reporting a senior FRB official has called Tether a risk to the stability of the financial system in a presenta…
POKKET: Crypto Market Update (June 20)

POKKET: Crypto Market Update (June 20)

Bitcoin is -1.5% to $35k, ETH is -3.8% getting dangerously close to $2k, now trading $2150. Movers are WABI +11%, rest is between +/-7%. Miami is now trying to lure China's Bitcoin miners, which have seen hash rates drop rapidly - it dropped almost -40%, after Sichuan ordered energy companies to stop providing power to miners just last night. There is data already showing US is picking up the slack in hash rates already, helping to diversify the mining participation. Jason Calacanis is questioni…