Author: Kryptonews

Recent claims of a major Bitcoin mining crackdown in China’s Xinjiang region rippled through the digital asset industry this week, but data by TheMinerMag suggests the actual impact was far smaller than early narratives implied.According to the latest Miner Weekly report, the Bitcoin network initially experienced a short-term hashrate decline, which was linked to developments in Xinjiang. However, the drop also coincided with power curtailments in the United States.Most major mining pools recovered to near pre-dip levels within days, resulting in a net decline of roughly 20 exahashes per second, which is significantly lower than the approximately 100 EH/s loss…

A US court is once again being asked to weigh in on maximal extractable value practices after a judge allowed new evidence to be added to a class-action lawsuit tied to a memecoin platform.The judge granted a motion to amend and refile to include new evidence a class-action lawsuit against memecoin launch platform Pump.fun, the maximal extractable value (MEV) infrastructure company Jito Labs, the Solana Foundation, which is the nonprofit organization behind the Solana ecosystem, and others.The motion said over 5,000 pieces of evidence in the form of internal chat logs were submitted by a “confidential informant” in September that…

Ethereum trades near $2,800 after a 12% weekly drop, with analysts warning of further downside as key support levels continue to break. Ethereum (ETH), the second-largest crypto by market cap, is trading at around $2,900 after falling by about 8% over the past week. Market activity remains high, with 24-hour trading volume at $31.3 billion. Traders are watching price levels as pressure builds around key support. Breakdown Signals Further Weakness Ethereum has broken below a rising trendline, ending a short period of upward movement. The asset now appears to be following a wider downward channel that has been in…

Plans to build a €100 million satellite of the Guggenheim Bilbao in Spain’s protected Urdaibai biosphere reserve have been abandoned after nearly two decades of legal challenges and escalating local opposition. The museum’s board of trustees — which includes the Basque regional government, the Biscay provincial council, and the Solomon R. Guggenheim Foundation — voted this week to halt the project, citing insufficient public support and scientific objections.  Conceived as a two-site expansion aimed at revitalizing the struggling Busturialdea region, the project would have placed new cultural facilities in a refurbished factory in Gernika and on the former shipyards at…

Bitcoin’s price may look deceptively familiar, but according to onchain analyst James Check, the market beneath the surface has changed far more than most investors realize.In a new interview with Cointelegraph, Check revisits a question he was asked earlier this year: Are we in a bull market or a bear market? While Bitcoin (BTC) is trading near similar price levels, Check says that leverage, investor cost base, and sell-side behavior are now very different, and all those shifts matter. In fact, a majority of the capital currently invested in Bitcoin was acquired at higher prices, leaving many holders underwater and…

Key Takeaways Intercontinental Exchange is in discussions to invest in MoonPay, a crypto payments company. This move highlights Intercontinental Exchange’s continued expansion in digital assets. Share this article Intercontinental Exchange (ICE), the global exchange operator that owns the New York Stock Exchange, is considering an investment in MoonPay, Bloomberg reported Thursday.Discussions are said to be underway as part of a funding round that could value MoonPay at around $5 billion, up from a $3.4 billion valuation in its last funding round in 2021.MoonPay is a crypto payment infrastructure provider that allows users to buy and sell digital assets. The company…

A US court is once again being asked to weigh in on maximal extractable value practices after a judge allowed new evidence to be added to a class-action lawsuit tied to a memecoin platform.The judge granted a motion to amend and refile to include new evidence a class-action lawsuit against memecoin launch platform Pump.fun, the maximal extractable value (MEV) infrastructure company Jito Labs, the Solana Foundation, which is the nonprofit organization behind the Solana ecosystem, and others.The motion said over 5,000 pieces of evidence in the form of internal chat logs were submitted by a “confidential informant” in September that…

ICP$2.9922 rose about 2.2% over the past 24 hours to trade around $3.01, reclaiming the $3 level after several sessions of consolidation just below that threshold. The move marks a continuation of the token’s recent recovery, with price action showing a steady series of higher lows, according to CoinDesk Research’s technical analysis data model.The push above $3 came after ICP held support near the $2.90–$2.95 zone, where trading activity picked up. Volume increased during the advance, although it did not spike to levels typically associated with strong breakout momentum, suggesting the move was driven by incremental positioning rather than a…

Bitcoin is the first cryptocurrency and remains one of the most widely recognized digital assets globally. Since its introduction, Bitcoin has played a significant role in the development of the global digital asset market. As adoption has increased, Bitcoin has been used both as a payment method and as a long-term store of value, while also serving as the primary asset within the cryptocurrency mining ecosystem.Bitcoin and the Mining ProcessBitcoin can be mined, unlike some digital assets that rely on alternative consensus mechanisms. Bitcoin mining refers to the process of validating transactions and adding them to the blockchain using computational…

Several projects that raised capital through Kaito’s community-driven launchpad are facing steep losses following their token generation events, reigniting questions about post-TGE performance, valuation discipline, and whether early “alpha” around the platform has faded.According to data shared by market participants, a number of Kaito-backed projects have suffered heavy drawdowns after launch. Several projects backed by Kaito Kickstarter saw significant post-TGE drawdowns. Play AI, launched at a $50m, now has an FDV of only $2.1m; Hana Network, launched at a $40m valuation, now has an FDV of $10.5m; Novastro, launched at a $50m valuation, now has an FDV of $1.05m; and…—…