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Mining Reading time: ~2 m The rise in prices in the cryptocurrency market provokes illegal miners to increase their power and look for new ways to use someone else’s electricity. The rapid growth of the crypto market after its November lows affects the expansion of all areas of the cryptocurrency industry, including the mining process that is fundamental to it. Leading Russian mining companies are increasing their equipment capacity. But growing profits inevitably attract those who want to make money on cryptocurrency mining, using loopholes in the legislation or relying on other people’s resources. Last week, news was widely reported…

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Regulation Reading time: ~2 m The Dubai Virtual Asset Regulatory Authority (VARA) is introducing updated rules for Virtual Asset Service Providers (VASPs) and crypto companies. Published on Tuesday, February 7, on the VARA website, the rules detail the requirements for legal entities, from cybersecurity standards to compliance and risk management standards, and also stipulate mandatory licensing. “With new rules designed to bring clarity, certainty and reduce market risk, VARA wants to create a foundation for global economic resilience in an innovation environment that is truly limitless and future-oriented,” it said in a statement. The rules apply to market participants outside…

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DeFi Reading time: ~2 m The Lido Finance team has announced the release of a new version of the platform for liquid staking. Today Lido contributors are proud to present Lido V2 — Lido’s largest upgrade to date and an important step towards further decentralization. https://t.co/SDxlxCgMNq pic.twitter.com/KJewhEp8rV — Lido (@LidoFinance) February 7, 2023 According to the developers, the upcoming upgrade will be the largest in the history of the protocol, representing an important step towards decentralization. Lido V2 is centered around two major upgrades:1) Staking Router: A new modular architecture that allows anyone (incl. solo stakers) to become a Node…

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Altcoins Reading time: ~2 m Due to the growing popularity of ChatGPT, the total market value of tokens related to artificial intelligence and big data has reached $5 billion. According to CoinMarketCap, the price of the biggest coins like GRT, AGIX, FET and OCEAN has increased by 20% or more in the last 24 hours. Market capitalization of the top four AI tokens. Data: Coin Market Cap. The Grap (GRT) AI token, which has a capitalization of over $1.5 billion, has risen in price by 37.25%. The trading volume for the past day amounted to $583.28 million. The price of…

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Mining Reading time: ~2 m North American mining companies Hut 8 and US Bitcoin have announced a merger on a parity basis. A new structure called Hut 8 Corp will be based in the US. 🔔🔔🔔News: Hut 8 and US Bitcoin Corp have announced a merger of equals, expecting to establish a new Hut 8 as a large-scale publicly traded North American Bitcoin miner with diversified fiat revenue streams. 📰Read more: https://t.co/TL0ZHpkKqu 📰 — Hut 8 (@Hut8Mining) February 7, 2023 According to a press release, the combined entity will have a hash rate of 5.6 EH/s with access to 825…

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Altcoins Reading time: ~2 m SALT closed a $64.4 million Series A funding round from a sale of shares to accredited investors. This comes less than 3 months after the planned sale of the company fell through due to the collapse of the centralized crypto exchange FTX. According to a press release provided by CoinDesk, the founders of the startup will direct the capital to create new products and implement the organization’s growth strategy. “Crypto faced a winter storm in 2022, taking with it industry majors like Terraform Labs, Voyager Digital, Celsius Network, Three Arrows Capital, FTX and BlockFi. SALT…

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Altcoins Reading time: ~2 m What happened? Crypto exchange Binance will distribute $100 worth of native BNB tokens to all users from the regions most affected by the February 6th earthquake in Turkey. Customer identification will be based on a Proof of Address (PoA) completed by February 6 in 10 cities. While PoA has its limitations and inaccuracies, it is the best method available to the Binance team to locate potentially affected users. The exchange estimates that the total amount of donations will be about $5 million. Binance Blog Announcement What else is known about the help of Binance? Clients…

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Bitcoin Reading time: ~2 m Analysts of the well-known digital asset management company in Europe CoinShares emphasized that bitcoin is the main object of attention of investors in the cryptocurrency market. In particular, it is reported that over the past week, investment products have received an inflow of $ 79 million, of which $ 69 million, or 90% of the total inflow, was directed to bitcoin. According to the report, the second-largest cryptocurrency by market capitalization accounted for just $0.7 million in weekly inflows, with the altcoins Solana, Cardano, and Polygon attracting amounts of $0.5 million, $0.6 million, and $0.3…

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Regulation Reading time: ~2 m The governor of the Bank of Italy said that the regulator is exploring new ways to integrate blockchain and distributed ledger technology (DLT) into payment systems. Ignazio Visco said that now the central bank is preparing for the entry into force of the law on the regulation of cryptocurrencies in the European Union (MiCA). The regulator is studying how DLT can increase the security of the financial system and protect confidential customer data. Wisco cited the main benefits by which DLT technology can improve the payment system: cost-effective international transactions and faster financial settlements. In…

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Bitcoin Reading time: ~2 m Despite the unsuccessful attempts by the price of bitcoin to restore support at $23,000, on the daily chart, moving averages formed a “golden cross” combination, a harbinger of a bull market. In the image below, the 50-day MA (marked in red) crossed above the 200-day MA (in blue). Bitcoin daily chart on the Bitstamp exchange. Data: TradingView. The last time the “golden cross” formed was in September 2021, two months before Bitcoin reached its all-time high. Collaborating with CryptoQuant, analyst Venturefounder sees a pullback to $20,000 (200 daily MA) with a subsequent exit to the…

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