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Toronto-based Bitcoin mining company Hut 8 has seen record high revenue in the third quarter of 2018, which reached $13.5 million, with $27.7 for the nine months ending on Sep. 30. Canadian Bitcoin (BTC) mining company Hut 8 has reported record revenue in the third quarter (Q3) of 2018, according to the company’s quarterly financial report published Nov. 8. Hut 8, which claims to be “the largest” public crypto mining company by operating capacity and market capitalization, has revealed its financial results for Q3 of this year, stating that its revenue reached a record high $13.5 million for Q3, and $27.7 million for the nine months ending on Sep. 30. Revenue increased by 126 percent compared to the previous quarter revenue of $5.9 million. Hut 8 attributed the increase to its deployment of 16 Bitfury BlockBoxes in September at its mining facility in the City of Medicine Hat, for an aggregate of 56 BlockBoxes at that site. Each BlockBox contains 176 mining servers and reportedly has a..
Bitcoin futures trading on the U.S. Chicago Board Options Exchange (CBOE) hit record low volatility levels in October, in stark contrast to the rocky global equity markets. Bitcoin (BTC) futures trading on the U.S. Chicago Board Options Exchange (CBOE) hit record low volatility levels in October, in stark contrast to the rocky global equity markets, MarketWatch reported Nov. 5. As Kevin Davitt, senior instructor for The Options Institute at Cboe Global Markets has outlined in a video Nov. 1, the average weekly volatility for the week ending Oct. 26 was just 3 percent for XBT-CBOE Bitcoin futures, the lowest ever level since they launched for trading Dec. 10, 2017. As of Nov. 1, the average weekly XBT high-low range on front-month Bitcoin futures since inception has been 15.65 percent: as of tax day (mid-April 2018), this weekly average has lessened to a more “subdued,” 10.6 percent, Davitt noted. Yet on the monthly chart, October overall has seen record-low volatility levels, an avera..
Crypto investment firm Grayscale Investments Inc. has raised almost $330 million in annual revenue as of the third quarter 2018, despite a prevailing bear market. Cryptocurrency asset management firm Grayscale Investments Inc. has reported revenue of nearly $330 million in 2018, according to its third quarter (Q3) investment report released Nov. 1. The company managed to reach this figure despite a prevailing bear market. In the report, Grayscale highlights that it raised $81.1 million over the last three months, which brought the firm’s year-to-date inflows to almost $330 million, representing an increase of almost 1,200 percent from the same period in 2017, when the company raised $25.4 million. The current year is the strongest Grayscale has experienced during any calendar year since the beginning of its activity. Grayscale cumulative inflows by investment product chart. Source: Grayscale In Q3, institutional investment contribution reportedly increased to 70 percent, however, in ..
Bulletproofs is a topnotch technology that is meant to make any blockchain more scalable and efficient. Today, Monero will set the record as the first ever blockchain to implement the Bulletproofs protocol. Invented by Jonathan Bootle and Benedict Bunz, the Bulletproofs protocol is aimed at decreasing the weight of transactions that are confidential. Monero has been building this technology for over one year. The idea is to reduce the size of confidential transactions by up to 80%. The Bulletproofs protocol is going to deal with one of the major problems faced by blockchains which is the problem of scalability. Monero’s Privacy Layers And Scalability As you probably already know, Monero is the most privacy centric blockchain in the world. However, the additional security layers also make computation and storage more difficult. The billion dollar blockchain has had to struggle with scalability which has led to high transaction fees and high storage cost. One of the cryptographers who ..
Bitcoin volatility hits all-time low, which could lead Bitcoin to initiate a major rally and bottom out at $6,000 Disclaimer: This article does not contain investment advice or recommendations. Every investment and trading move involves risk, you should conduct your own research when making a decision. In the beginning of October, Bitcoin achieved a 17-month low volatility rate, recording its highest level of stability since mid-2017. Bitcoin has started to experience a noticeable decline in its volatility during a period in which the volume of the dominant cryptocurrency achieved a new yearly low. Thus, the volume of Bitcoin dropped from $4.2 billion to $3.2 billion on October 7, by more than 23 percent. Since then, the volume of BTC has recovered substantially, back to $4.2 billion, but it still remains substantially lower than previous weeks. The overall decline in trading activity in the cryptocurrency exchange market due to the uncertainty in the short-term price trend of Bitcoi..
At a recent event in Minneapolis, CFTC chairman Christopher Giancarlo noted increased enforcement actions last year, partly due to fraudulent crypto cases Christopher Giancarlo, the chairman of U.S. Commodity Futures Trading Commission (СFTC), said in an Oct. 2 speech that enforcement actions and fines increased significantly in the last fiscal year. Giancarlo presented at the Economic Club of Minnesota, stating that the enforcement of the recent fiscal year, which ended September 30, was "among the most vigorous in the history of the CFTC." The CFTC filed 83 enforcement actions in the last fiscal year, representing a 25 percent increase from the last three years of the previous administration. The CFTC levied as much as $900 million in penalties this fiscal year. The watchdog has also reached settlements from $30 million to $90 million that are reportedly connected with interest-rate benchmark manipulation with banks such as JPMorgan Chase & Co., Deutsche Bank, and Bank of America, a..
Blockchain network developed by the government of Australia recorded 40,000 transactions per second. On Sept. 26, Australia’s National Science Agency (CSIRO), an independent Australian federal government agency responsible for scientific research, developed a blockchain network called Red Belly with the University of Sydney. They successfully conducted a pilot test on the Amazon Web Services (AWS) global cloud infrastructure, processing more than 40,000 transactions per second. At 40,000 tx/second, Red Belly is able to process information on an immutable network at a capacity that is 6,666 times larger than the Bitcoin network and about 1,600 times bigger than the Ethereum blockchain network. Ethereum vs. VisaAn Ethereum researcher with an online alias CPereez19 calculated the transaction per second capacity of Ethereum to be around 25.346 tx/second, evaluating the block gas limit and transaction cost of the Ethereum network: “The block gas limit [of Ethereum] is 7,999,992 . Transacti..
Experts argue on the possibility of the valuation of the crypto market reaching $200 trillion in the long-term. Last week, statements from Binance CEO Changpeng Zhao (aka CZ) and Ethereum co-creator Vitalik Buterin led the community to speculate on the possibility of the crypto market achieving a 1,000 return in value in the long-term. On Sept. 8, Buterin stated with the awareness of cryptocurrencies by the general public and mainstream reaching a peak in late 2017, it is unrealistic for the valuation of the crypto market to increase by a thousand fold from its current value at $200 billion. A thousand fold increase from $200 billion is $200 trillion, which is 70 percent of global wealth that includes gold, reserve currencies, and other traditional assets that are utilized as wealth management products. “The blockchain space is getting to the point where there’s a ceiling in sight. If you talk to the average educated person at this point, they probably have heard of blockchain at leas..
Advertisement This is a paid-for submitted press release. CCN does not endorse, nor is responsible for any material included below and isn’t responsible for any damages or losses connected with any products or services mentioned in the press release. CCN urges readers to conduct their own research with due diligence into the company, product or service mentioned in the press release. Bitcoin Press Release – Social Reality, Inc. (SRAX), a digital marketing and consumer data management and distribution technology platform company, declared it will issue a right to receive securities of BIGtoken Inc., the company’s wholly owned subsidiary to the holders of the company’s Class A common stock on the record date of September 17th, 2018. September 14th, 2018 Los Angeles – The securities of BIGToken will have such rights and preferences as determined by the board of directors of BIGToken and shall be distributed when and if BIGToken meets all regulatory requirements. SRAX’s CEO and Chairman..