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🗞 Daily Crypto News, December, 5th💰

76
5 years ago
in#bitcoin

  • Litecoin’s Mining Power Tanks to Lowest in Year Following Price Plunge ;
  • Circle Co-Founder Sean Neville Steps Down as Co-CEO ;
  • Cointelegraph Announces Chinese HQ, Bolstering Its International Expansion ;
  • State Street Slashes DLT Developer Team as Bank Rethinks Blockchain Strategy ;
  • Bakkt CEO Kelly Loeffler Appointed to US Senate Seat ;
  • 🗞 Daily Crypto News, December, 5th 💰
  • STEEM Trading Update

Welcome to the Daily Crypto News: A complete Press Review, Coin Calendar and Trading Analysis. Enjoy!

🗞 Litecoin’s Mining Power Tanks to Lowest in Year Following Price Plunge

Litecoin’s price plunge in recent months has whittled away the profitability of mining the cryptocurrency, leading to a shakeout among computer operators on the network seen as a faster and cheaper but less secure version of bitcoin.

Prices for litecoin, created in 2011 just two years after bitcoin, have fallen to about $45, from a peak around $140 in June. And under the network’s original programming design, rewards for mining new blocks of data were slashed by 50 percent on Aug. 5, an every-four-years event known as a halving.

The combination of factors has cut the profits of mining litecoin using the popular Innosilicon A6+ computers to $1.68 per 24 hours, from $2.65 in mid-June, assuming a standard electricity cost, according to f2pool. That’s a slim margin for a machine that costs $3,000 new, according to the manufacturer’s website.

🗞 Circle Co-Founder Sean Neville Steps Down as Co-CEO

Sean Neville, Circle's co-CEO, will be stepping down from his role at the end of the month.

Neville, who co-founded the Boston-based payments firm in 2014 with Jeremy Allaire, said in an email obtained by CoinDesk that he notified the company’s Board of Directors during a quarterly meeting. While he will transition out of his role as co-CEO, he will remain on the board as an independent director.

While Neville did not explicitly give a reason for his departure, he said in his email that the company’s recent sale of the Poloniex crypto exchange was one of several factors that made “the time appropriate for me to transition.”

As part of Circle’s board, Neville expects to continue working with CENTRE, the collaboration between Circle and Coinbase which is nominally the issuer of the USDC stablecoin.

🗞Cointelegraph Announces Chinese HQ, Bolstering Its International Expansion

To support our international expansion and global reach, Cointelegraph is delighted to announce the launch of the Chinese-language version of the publication. Today, Dec. 4, we celebrated the opening of the office of Cointelegraph China (Cointelegraph 中文).

The news — which marks another milestone moment in Cointelegraph’s growth — was announced at the Nova Global Blockchain Investment Institutions Summit hosted by the investment ecosystem alliance, Nova Club. Nova Club was formed by top blockchain organizations and aims to facilitate blockchain project development by consolidating resources and expertise.

The new expansion will be led by Vadim Krekotin from the heart of Guangzhou, with other offices in Beijing and Shanghai.

🗞State Street Slashes DLT Developer Team as Bank Rethinks Blockchain Strategy

State Street, the global custodian bank, has taken a new direction with its blockchain strategy and cut scores of developer jobs in the process, people familiar with the situation said.

The focus is now more on digital assets such as tokenized stocks and bonds through to cryptocurrencies, rather than the heavy lifting work of re-plumbing front to back office with distributed ledger technology (DLT).

Because of various cost pressures weighing on the Boston-based bank, there has been a dramatic streamlining of the global blockchain team in the past few weeks. A former State Street engineer, who wanted to remain nameless, said the cuts numbered over 100 blockchain developers.

🗞Bakkt CEO Kelly Loeffler Appointed to US Senate Seat

Georgia Governor Brian Kemp has appointed Kelly Loeffler, CEO of institutional Bitcoin (BTC) futures platform Bakkt, to a United States Senate seat.

With the appointment, Loeffler will replace Sen. Johnny Isakson (R-GA), who plans to retire at the end of the year, the Washington Post reported on Dec. 4. A person familiar with the matter, shared Loeffler’s remarks with the publication, in which she ostensibly said:

“I haven’t spent my life trying to get to Washington. But here’s what folks are gonna find out about me: I’m a lifelong conservative. Pro-Second Amendment. Pro-military. Pro-wall. And pro-Trump. I make no apologies for my conservative values, and will proudly support President Trump’s conservative judges.”

🗞 Daily Crypto News, December, 5th 💰

  • Kryll (KRL)

KRL token will be listed on a new exchange on December, 5th.

  • SOLVE (SOLVE)

"CEO Pradeep Goel shares SolveCare's latest progress at 2 PM (UTC)."

  • POA (POA)

The POA Sokol Test Network will upgrade to Istanbul.

  • Bethereum (BETHER)

Bethereum partners with Sorare for the upcoming eSports Cup.

  • General Event (CRYPTO), Polymath (POLY)

"Sub0.1 once again brings together Substrate developers from around the world to Berlin on December 5-6, 2019."

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STEEM Trading Update by my friend @cryptopassion

Here is the chart of my last analysis :

Here is the current chart :

Today, with the help of the BTC, we tested again the resistance line at 0.124$ but unfortunatly, we failed, due also of the correction on the BTC. It looks like buyers on the BTC were not powerfull enough to keep the nice UP and it has impacted directly the STEEM also. We broke the resistance at 0.124$ during some minutes but we are again just under that line now and we are again in waiting mode. Let's see if we are able to break again that line in the coming hours..

Last Updates

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5 years ago
vlemon76
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