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New Mexico is the cheapest US state to mine Bitcoin in terms of average electricity cost, while Hawaii is the by far the most expensive. It now costs Bitcoin (BTC) miners at least $17,000 to produce one BTC in the U.S. versus the $5,000-10,000 range a year ago, according to  Bitcoin Mining data resource Hashrate Index and Luxor. Bitcoin hashprice has dropped 58% in a year Unsurprisingly, soaring electricity rates across the U.S. states have contributed to rising Bitcoin mining costs. Notably, between January 2022 and January 2023, the commercial electricity tariff surged at an average of 10.71% per U.S. state, higher than the average consumer price index surge of 6.4%. Average industrial rate rise between January 2022 and 2023. Source: EIA/Hashrate Index/Luxor Coupled with Bitcoin's downward performance in 2022, which saw a maximum drawdown from around $48,000 to below $15,000, it is evident that active miners generated consistent losses due to the increase in operational costs a...

Join Our Telegram channel to stay up to date on breaking news coverage Data market Analysis confirms that the number of trading sales volume for non-fungible tokens has slightly pumped high this month, despite the general crypto bear market and regulatory uncertainty surrounding the entire crypto industry. Total NFT sales have jumped by 5.4% in the past seven days. NFT Sales Pump 5.4% This Week According to CryptoSlam, an on-chain market data aggregator, the non-fungible token has experienced a sharp increase in trading sales this week, surging more than 5% in the past seven days. The NFT market has attracted a trading sales volume of more than $178 million. Ethereum-based NFT products dominated the NFT market, attracting trading sales revenue of more than $100 million. However, its sales have plummeted by 14.13%. Solana NFTs distantly followed, raking in just $38 million in the past seven days. Its trading sales volume has soared by 1.2%. Non-fungible tokens hosted on Pol...

Also Read: Mastercard Says Expanding Crypto Card Program advertisement Not just lawmakers and crypto traders, but several US judges had ruled against the SEC’s position on crypto companies. In recent times, the US agency received unfavorable rulings in crypto related cases including the Grayscale and Ripple XRP lawsuits. Read More to know about Key US SEC Crypto Lawsuit Failures Every Investor Should Know CZ Sheds Light On Hong Kong Crypto Policy Easing The World’s first licensed Crypto Casino. Begin your journey with 20% cashback up to 10,000 USDT. Signup Ad In what appears to be criticism directed at the US regulators, CZ shared a report about the Hong Kong central banking asking local banks to give banking services access to crypto businesses. Earlier, CoinGape reported that the Hong Kong Monetary Authority (HKMA) had on Thur...

PlanB, a well-known quantitative researcher, says that Bitcoin (BTC) is likely to grow very quickly before the halving event next year. The pseudonymous quant expert predicts that Bitcoin will follow the stock-to-flow (S2F) model and rise more than 588% from its present value of $29,069 to $200,000. PlanB says that the halving of Bitcoin in April 2024, which will cut the prize for BTC miners in half, will be the spark that sends the king cryptocurrency to new all-time highs. “2024 halving cycle is going to be very interesting. Or 2022 was an outlier and 2023+ will revert to S2F model line. Or there is a non-linear relationship between S2F/halving and price, diminishing return. IMO (in my opinion) 2022 was an outlier and exponential growth will continue until ~50% adoption. Time will tell.” Traders have used the S2F model for a long time to predict how the prices of things like gold and silver will move. The model predicts how an asset will do based on the...

A day after expressing his bullishness on the crypto, US Senator Ted Cruz says CBDC s are designed to “destroy all the value of Bitcoin.” Moreover, the senator stated that the implementation of central bank-issued digital assets would be “profoundly dangerous” to society.  Cruz has remained outspoken in his stance against CBDC developments. Specifically, he has stated that such a central bank digital currency would provide the government with an avenue to observe every transaction made by citizens. Alternatively, Cruz restates his concern over the risk these assets possess.  Cruz Talks CBDC Concern A hot-button issue in American politics so far in 2023 has been a new Federal Reserve-issued digital asset. Subsequently, both sides of the aisle have spoken with respect to their own perspectives. Now, one senator has continued to express his worry about its arrival.  Specifically, US Senator Ted Cruz says that CBDC s are designed to destroy the value of Bitcoin.” Moreover, spe...

Join Our Telegram channel to stay up to date on breaking news coverage The non-fungible token market continues to attract major businesses, institutions, and investors despite the general crypto market facing regulatory uncertainty in recent weeks. Haribo is the latest major firm to showcase intentions of investing in the NFT sector. Haribo Files NFT And Metaverse Patents In an April 26 blog post, Mike Kondoudis, an accredited intellectual property attorney, confirmed that Haribo filed a trademark application with the United States Patent and Trademark Office related to the metaverse and non-fungible tokens on April 25, 2023. German confectionery company #HARIBO has registered its name as a trademark for: ✅ Smartwatches ✅ VR Glasses ✅ Media verified by NFTs ✅ Jewelry and Toys … and much more!#NFT #MetaverseNFT #GoldBears #Trademark #Candy #NFTs #VR pic.twitter.com/y7WqNVJC7c — Mike Kondoudis (@KondoudisLaw) April 26, 2023 Esta...

Join Our Telegram channel to stay up to date on breaking news coverage The Sandbox, a decentralized metaverse platform, has collaborated with Ledger Enterprise to develop security integration. This collaboration will facilitate Sandbox’s partners to transfer their non-fungible tokens (NFT) collections to the Ledger wallet, enabling the highest level of security for these assets. On April 23, the Sandbox revealed the partnership via its official blog. Further, the partnership will include a number of initiatives. The collaboration will see the Sandbox appear as a decentralized application (DApp) on Ledger Enterprise. A certain widget will be incorporated into the Ledger Live desktop application. This will enable the transfer of all NFTs in the metaverse platform to the Ledger Enterprise wallet. The release also emphasizes that the Sandbox will recommend Ledger Enterprise to its LAND owner ecosystem. At the same time, Ledger will promote the sandbox metaverse to its users. ...

Per the official announcement , the partnership will help Binance users leverage the Binance Pay app to carry out crypto transactions with more than 40 supported digital currencies. As a mutually beneficial partnership, clients of Alchemy Pay will also gain additional exposure to Crypto payments through the Binance Pay, a move that takes crypto directly to the former’s global partners including Shopify. advertisement Other global clients that will benefit directly from the partnership include QFPay, Hong Kong’s Pricerite, Singapore’s Ce La Vi, Canadian footwear brand Aldo, multinational Arcadier SaaS, Midwest Global Asia taxi services (with its network of more than 2500 limousine drivers) and more. The superiority in blockchain payment networks which guarantees faster speed, cheaper and more secure transactions has been a focal point for the emergence of new payment solutions over time. Binance Pay was floated to provide a worthy challenge to ex...