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👉👉👉 Emmer says emergency #Bitcoin‬ miner survey order was an abuse of power  House Majority Whip Tom Emmer, R-Minn., is pushing back against a recently approved emergency request aimed at collecting data from bitcoin mining operations in the United States. Last month, the Office of Management and Budget (OMB) gave the green light to the Energy Information Administration’s (EIA) request for emergency clearance to conduct a mandatory survey on the location and energy usage patterns of bitcoin mining operations across the country. In a letter to the OMB on Tuesday, Emmer expressed his deep concern regarding the OMB's use of emergency approval authority in this instance, stating that bitcoin miners do not pose a threat to public safety. According to the EIA, bitcoin mining accounted for between 0.2% and 0.9% of global electricity demand in 2023. In the US, the agency estimates that bitcoin mining represents between 0.6% and 2.3% of consumption. The EIA highlighted concerns about the additional electricity usage associated with #Bitcoinmining , including its impact on cost, reliability, and emissions. Identifying cryptocurrency mining activity among millions of US end-use customers and the dynamic nature of the crypto market pose challenges in tracking #cryptocurrency mining energy use, according to the agency. The EIA has identified 137 bitcoin mining facilities across 21 states, with the highest concentrations in Texas, Georgia, and New York. These operations are required to respond to the agency with details related to their energy use. Emmer pointed out that the filing does not acknowledge crypto mining's unique ability to reduce load during peak hours or adverse weather conditions. Emmer seeks OMB clarification on emergency authorization for data collection and inquires about potential criminal charges against non-compliant companies. The EIA plans to collect data immediately and aims to release preliminary results by mid-year. Source - blockworks.co #CryptoNews #BinanceSquare

👉👉👉 Emmer says emergency #Bitcoin‬ miner survey order was an abuse of power 

House Majority Whip Tom Emmer, R-Minn., is pushing back against a recently approved emergency request aimed at collecting data from bitcoin mining operations in the United States.

Last month, the Office of Management and Budget (OMB) gave the green light to the Energy Information Administration’s (EIA) request for emergency clearance to conduct a mandatory survey on the location and energy usage patterns of bitcoin mining operations across the country.

In a letter to the OMB on Tuesday, Emmer expressed his deep concern regarding the OMB's use of emergency approval authority in this instance, stating that bitcoin miners do not pose a threat to public safety.

According to the EIA, bitcoin mining accounted for between 0.2% and 0.9% of global electricity demand in 2023. In the US, the agency estimates that bitcoin mining represents between 0.6% and 2.3% of consumption.

The EIA highlighted concerns about the additional electricity usage associated with #Bitcoinmining , including its impact on cost, reliability, and emissions.

Identifying cryptocurrency mining activity among millions of US end-use customers and the dynamic nature of the crypto market pose challenges in tracking #cryptocurrency mining energy use, according to the agency.

The EIA has identified 137 bitcoin mining facilities across 21 states, with the highest concentrations in Texas, Georgia, and New York. These operations are required to respond to the agency with details related to their energy use.

Emmer pointed out that the filing does not acknowledge crypto mining's unique ability to reduce load during peak hours or adverse weather conditions.

Emmer seeks OMB clarification on emergency authorization for data collection and inquires about potential criminal charges against non-compliant companies. The EIA plans to collect data immediately and aims to release preliminary results by mid-year.

Source - blockworks.co

#CryptoNews #BinanceSquare

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👉👉👉 Will Bitcoin (BTC) Price Fall Below $60k This Week? The Bitcoin ($BTC ) price outlook appears cautious as larger holders, commonly known as #Whales , holding between 100 to 1,000 BTC have stabilized their holdings since March 25, indicating a pause in accumulation. Additionally, the Relative Strength Index (RSI) has dipped from 76 to 69, suggesting a short-term cooling in momentum. Furthermore, the Exponential Moving Average (EMA) lines are approaching a death cross, a pattern often interpreted as a bearish signal for BTC. This occurrence, where the short-term moving average falls below the long-term average, may indicate a shift towards a downtrend. The stability in the number of wallets holding significant amounts of BTC suggests a lack of further accumulation by whales. This behavior could signify a diminishing interest or a cautious stance from these influential players, potentially impacting market sentiment and prompting other investors to follow suit. The RSI, a momentum indicator, currently stands at 69, indicating a balance between buying and selling pressures. While not in the overbought territory, the RSI's decline from higher levels suggests a cooling off in Bitcoin's fervor, coinciding with a stabilization in its price range. The nearing death cross of the EMA lines, which prioritize recent price action, underscores the potential for a shift from bullish to bearish market conditions. If this trend continues, BTC's price could potentially decline to $59,200, especially if the $62,300 support level fails to hold. However, there remains a possibility of a reversal if buyers regain control and drive the market into an uptrend. Breaking through the $71,700 resistance level could signal renewed bullish sentiment, challenging the current bearish outlook for Bitcoin. Source - beincrypto.com #CryptoNews🔒📰🚫 #BinanceSquareBTC #cryptocurrency #Bitcoinprice
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🔥🔥🔥 #XRP🚀 Price Near Crucial Juncture, Can #Bulls Take A Stand? XRP's price is encountering resistance below the $0.620 mark, necessitating a maintenance of support at $0.5680 to entertain the possibility of a fresh uptrend in the short term. Gradually, XRP is edging lower from the resistance zone around $0.6620. Currently, it trades beneath both the $0.620 level and the 100-period simple moving average on the 4-hour chart. A significant bearish trend line is forming, with resistance at approximately $0.600, as observed in the XRP/USD pair's 4-hour chart sourced from Kraken. During recent sessions, Ripple's token experienced a steady decline from levels comfortably above $0.650, breaching key supports at $0.620 and $0.605, akin to movements in Bitcoin and Ethereum. After testing the support around $0.580, where a low was established near $0.5805, the price now consolidates its losses. Additionally, the bearish trend line serves as a critical resistance point, restraining any potential upward momentum. Currently trading below $0.620 and the 100-period simple moving average on the 4-hour chart, XRP faces immediate resistance at around $0.600 and the aforementioned trend line. Close to this level lies the 23.6% Fibonacci retracement level of the downward swing from the $0.6625 high to the $0.5805 low. Resistance near $0.620, linked to the 50% Fibonacci level, awaits, with a clear break above $0.6250 signaling a strong uptrend towards $0.6620. Failing to surpass $0.600 may trigger another decline, with support at $0.580 and a critical level at $0.5680. A close below this may accelerate towards $0.5250. Analyzing indicators, the 4-hour MACD for XRP/USD indicates an increasing pace in the bearish zone, while the 4-hour RSI remains below the 50 level, suggesting prevailing downward pressure. Key support levels to monitor include $0.580, $0.5680, and $0.5250, while resistance levels are situated at $0.600, $0.6250, and $0.6620. Source - newsbtc.com #CryptoNews🔒📰🚫 #BinanceSquareTalks #cryptocurrency
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👉👉👉 #HongKong investment banking giant launches first tokenized commercial paper on #Ethereum GF Securities, a leading investment bank in Hong Kong, has launched Hong Kong's first tokenized commercial paper on the Ethereum blockchain, marking a significant development in the digital asset landscape. This move underscores Hong Kong's position as a leader in integrating blockchain technology with traditional finance. Tokenization involves converting asset rights into digital tokens on a blockchain, aligning with the global trend of digitizing physical assets. ABT Tech, a Hong Kong-based blockchain firm, will provide technical support for this initiative. The issuance complies with regulatory guidelines set by the Hong Kong Securities and Futures Commission (SFC), established in November to regulate innovative financial instruments. Utilizing Ethereum offers benefits such as increased flexibility and independence for investors, allowing them to monitor and manage investments with greater autonomy. It also enables the creation of supplementary tools and solutions, democratizing investment access. Globally, Real World Asset (#rwa ) tokenization is seen as the next phase of crypto development, potentially unlocking trillions of dollars into the blockchain industry. According to a BCG report, tokenized assets could reach a $16 trillion market by 2030. Ripple, a U.S.-based blockchain payments company, is also exploring opportunities in tokenization, particularly in revolutionizing the real estate sector. GF Securities' move follows BOCI's partnership with UBS to issue tokenized notes on Ethereum in June 2023. Source - crypto.news #CryptoNews🔒📰🚫 #BinanceSquareTalks
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🔥🔥🔥 #MemecoinMadness is breaking the #BitcoinHalving cycle Observers note an unconventional trend in the current bull market, where liquidity appears to be bypassing traditional steps and flowing directly into memecoins, rather than first into Bitcoin and then into other high-capitalization coins like Ethereum. Described as the "weirdest" bull market on record by industry analysts, this cycle saw Bitcoin reach an all-time high prematurely, followed by a significant surge in memecoin activity. Chainlink's Zach Rynes, known as "ChainLinkGod," remarked on the unusual nature of this market trend to his large following on social media. Traditionally, bull runs witnessed a flow of liquidity into Bitcoin, then into Ethereum, and subsequently into other coins lower down the chain. However, in the current cycle, observers note a deviation from this pattern, with liquidity flowing directly from Bitcoin to memecoins, which is considered atypical. The memecoin market saw a substantial increase in total capitalization, reaching $70 billion, primarily fueled by pumps in newly launched tokens like Solana-based Dogwifhat and Book of Meme, as well as older memecoins like Pepe and Bonk. Additionally, Coinbase's #Layer2 network, Base, emerged as a hub for memecoin speculation, exemplified by the remarkable surge of the Base-native token DEGEN, which soared by an astounding 2,800% over the past month. Rynes highlighted that market fundamentals seem to be playing a diminished role currently, with attention focused more on specific narratives rather than real fundamentals. Ethereum educator Anthony Sassano echoed this sentiment, emphasizing that the current bull market is unlike any seen before in crypto history. He noted that retail participation is not significant until the entire market moves up together, rather than isolated sector-specific pumps driven by crypto natives rotating money within the ecosystem. Source - cointelegraph.com #CryptoNews🔒📰🚫 #BinanceSquareBTC
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🔥🔥🔥 Top 3 Price Prediction: $BTC whales position themselves for pre-#halving pump Bitcoin (BTC) price is on the verge of establishing a clear direction as the much-anticipated BTC halving event draws closer. Meanwhile, Ethereum ($ETH ) price is awaiting cues from Bitcoin, and Ripple ($XRP ) price is heavily influenced by ongoing legal developments. Whale Movements Ahead of Halving - In anticipation of the halving, large BTC holders have been making significant moves in the market. Notable whale activity includes: A whale transferred 1,000 BTC worth $68.54 million from #Bitfinex to a new wallet. Another dormant address with 500 BTC valued at $34.72 million was activated after 11.7 years. Additionally, 1,500 BTC worth $103.08 million were moved from one unknown #Wallet to another. Institutions and whales acquired 12,000 BTC primarily on Coinbase and Kraken, moving them to private wallets, contrasting small investors who sell during price spikes but buy during dips. Bitcoin Price Outlook - Bitcoin retested the March 27 low of $68,359, suggesting a possible end to the pullback. A rally towards $73,500 is possible if bulls seize momentum, with key supports at $67,651 and $67,302. Yet, a drop below $68,500 may intensify bearish pressure, targeting $63,500 before the halving event. Ethereum and #ripple Price Analysis - Ethereum's price faces resistance at the 50% Fibonacci level, indicating a potential downward trend towards $3,353 or $3,152 if Bitcoin's weakness persists. Ripple's price, on the other hand, remains above an ascending trendline but lacks bullish momentum, with support at $0.5783. A breakout above $0.6685 could drive gains towards $0.7000 and $0.7500. In summary: - BTC: Potential or a rally towards $73,500 if key support levels hold. - ETH: Bearish sentiment may lead to a drop towards $3,353 or $3,152. - XRP: Support at $0.5783 could be tested if selling pressure increases, while a breakout above $0.6685 may trigger further gains. Source - fxstreet.com #BinanceSquareBTC
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