fintech

Estimated BTC Hash Rate Drops After China's Sichuan Region Orders Miners To Cease Operations

FRNT Financial

June 21, 2021

On Friday, authorities in Sichuan ordered mines in the region to shut down by Sunday. The Cambridge Centre for Alternative Finance reports that the province accounted for roughly 9.66% of China’s hash rate as of April 2020.

By Listing SHIB, Coinbase Gives 'Questionable' Coins More Legitimacy Than They Deserve

FRNT Financial

June 17, 2021

Coinbase’s decision to list Shiba Inu (SHIB)— a token launched in 2020 by an anonymous team with the aim of mimicking Dogecoin— highlights crypto exchanges’ incentives to list questionable projects.

The Path Forward For Blockchain-Based USD Beyond The Crypto Space Remains Unclear

FRNT Financial

June 16, 2021

Stablecoins outside of the crypto ecosystem have a number of competitors offering more traditional digital solutions, such as Cash App, Venmo, and Interac.

DeFi Venues Face Scrutiny From U.S. Regulators

FRNT Financial

June 14, 2021

Last week CFTC Commissioner Dan Berkovitz said DeFi exchanges offering derivatives aren’t legal and that “we should not permit DeFi to become an unregulated shadow financial market.”

Solana's SOL Coin Is Now Ranked 12th By Market Cap

FRNT Financial

June 10, 2021

Solana Labs, the firm behind the Solana blockchain, has raised USD 314 million via a sale of its native SOL coin with the aim of expanding the smart contract network. With a market cap of USD 11 billion, SOL is now the 12th largest crypto by that metric.

BTC Transaction Fees Remain Steady Despite An Increase In Network Usage

FRNT Financial

June 9, 2021

BTC transaction fees priced in the asset have remained well below highs from 2017. This is despite network usage metrics that surpassed those from 2021.

Crypto Networks Likely Remain Undifferentiated By Most Investors

FRNT Financial

June 8, 2021

The increase in correlation between assets as diverse as DOGE, ETH, XRP, and BTC suggests that adoption hasn’t been accompanied by a more sophisticated differentiation between usage metrics and technical maturity of varying blockchains and their associated assets.

El Salvador Is Creating Legislation To Recognize BTC As Legal Tender

FRNT Financial

June 7, 2021

Arguably, BTC gives local authorities a greater overview of its monetary policies than the EUR or USD, whose management is designed to favor the countries issuing those currencies. BTC has now emerged on a list of currencies which nations can choose to adopt if they’re unable to manage domestic currencies.

BTC Mining Might Have Been Shifting Out Of China Even Before 'Crackdowns'

FRNT Financial

June 4, 2021

The BTC network hasn't shown any obvious reactions to reported crackdowns on mining activity in China. At the same time, Chinese BTC mining hardware producer Canaan has reported that 78% of Q1 revenue came from overseas markets.

Interest In Cardano Network Is Outpacing Its Technical Advancement

FRNT Financial

June 3, 2021

The Cardano network’s ADA token achieved a record market cap of USD 73 billion in mid-May. The network, which has limited functionality, has benefited from the narrative-driven investing that’s typical in crypto markets.