Today, Canaan and Galaxy Digital have reported quarterly losses, Huobi has announced a legally compliant way to re-enter the US market, and Binance denies stealing $ 1 million from one of its users.
Canaan Creative’s losses in 2019 are a continuation of the decline in profitability of the leading mining manufacturer over the past three years. While its machines secure 20% of the Bitcoin network, Canaan is a market leader in an industry subject to volatile price fluctuations, constantly changing mining incentives and rapid technological progress. That doesn’t mean anything from Bitcoin’s scheduled “halve” in 34 days, which will essentially cut miners’ paychecks in half.
You read Blockchain bites, the daily summary of the most crucial stories in blockchain and crypto news, and why they matter. You can subscribe to this and all CoinDesk newsletters here. Here is the story:
Arguments in favor of decentralization
The breakout of Bitcoin above a long-term moving average resistance near $ 7,100 reinforced the arguments in favor of a rally to $ 8,000. The 200-period average was capped several times in the last days of March as the hurdle was cleared, buyers who entered the market earlier this month may also be more comfortable to maintain their positions. Overall, this decision is a good signal for prices.
American leaders are rushing in record numbers to “buy the plunge” (but not the cryptographic plunge).
March 12 changed the way investors look at markets and crypto assets, rocked some participants and left others unmoved. CoinDesk quarterly review is a first-quarter analysis of how the story has changed for crypto tokens like Bitcoin and Ethereum, whose assets have outperformed, and how participants in crypto markets are evolving as a result of defining event of the first quarter. Read the full report here.
Hidden Forces host Demetri Kofinas joins NLW to discuss “things we don’t have the right to talk about” in the latest episode of The Breakdown podcast. Listen on Apple podcasts.
Bitcoin in Africa
If Bitcoin works in Zimbabwe, it works everywhere (part 4 of a six-part series of documentary podcasts)
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