Firms are El Salvador’s JeOpens the First Bitcoin Mining Pool to Harness Geothermal Energy
El Salvadoran renewable energy and mining company Volcano Energy and Bitcoin mining software provider Luxor Technology have launched a pool called “Lava Pool”. This is the first crypto mining pool based in El Salvador that aims to mine Bitcoin using the country’s rich geothermal energy. According to the statement, Volcano Energy will only mine Bitcoin through this pool and will donate 23% of its revenue to the government of El Salvador as part of a public-private partnership initiative.
Real Vision CEO Bullish on Q2 2024
Macro investor and Real Vision CEO Raoul Pal says the coming crypto bull market will most likely begin in the second quarter of 2024, when the Bitcoin halving will take place. According to Pal, the Bitcoin halving cycle coincides with the macro cycle. This means that each halving has so far taken place in a similar macroeconomic environment (quantitative easing and low interest rates). In an interview with Cointelegraph, Pal said, “Actually, macro is the dominant factor and the halving is a misleading story but that doesn’t matter. Because it still works.”
Stars Arena Users’ Funds at Risk
Stars Arena, the Avalanche-based SocialFi platform, has reported that it has been exposed to a critical vulnerability that could allow someone to withdraw AVAX coins from the project’s smart contract. This vulnerability threatens tokens locked in the smart contract for more than $1 million. The high operating fees in the Avalanche structure can be a deterrent for hackers.
Bitcoin Monitoring System from BIS
According to Reuter, the BIS (Bank for International Settlements) Bitcoin monitoring system will provide information on where, how and how much Bitcoin is spent. The main purpose is thought to be that the anti-crypto BIS wants to know how much of Bitcoin is being converted into dollars in which part of the world.
Crypto Cards Boost Payment Volumes
Visa executive Akshay Chopra explained that the company’s partnerships with cryptocurrency exchanges facilitate billions of dollars of payment volume. According to the Visa executive, the integration of traditional payment cards with cryptocurrency exchanges plays an important role in the adoption of digital assets. In addition, Akshay Chopra emphasized that Visa cards have served as a bridge between fiat currencies and cryptocurrencies in recent years.
Bitcoin is priced at $ 27,488 with a 0.28% gain in value as of today morning hours. After failing to break through 28500, a strong resistance level, it is moving back into the horizontal band. 27,500 is an important level. With a downward break of this level, we can see that 27,300s will work as support first. If there is persistence at 27,500, we are likely to see 28,500 again.
ETH, which gained 0.53% as of morning hours, is priced at $ 1620. With the decline in the market, it lost the $ 1660 level with a voluminous breakout. It could not find support at $1638, the middle of the horizontal band. Although it seems to have received a reaction from 1607 dollars, it is moving towards the bottom of the horizontal band. If it fails to rise above $1640, we are likely to see the 1570s again. If we see an upward movement with volume, we can see 1750 dollars after the break of the 1640 level.
XRP is priced at $0.5206 as of morning hours, down 0.38%. After the impact of the news is over, XRP is on its way back to the same levels. Although it seems to have found support at 0.52, 0.50 dollars will be the biggest support zone. If it gets a reaction from 0.52, it is quite likely to go to 0.53 and then again to 0.55. In the scenario where we see downward breaks, we can see 0.48s with the loss of 0.50.
AVAX is priced at $10.38 with a 2.27% gain in value as of morning hours. Although the price dropped a bit due to the news on Stars Arena, it seems to have recovered. Above $10 is a very positive pricing for AVAX. It surpassed the 10.20 level, where it was rejected before, and now it seems to have made a support for itself. With 10.6 exceeded, we can see AVAX at 11 dollars again. When the $10 level breaks down, 9.8 will be our support level again.
SOL is priced at $ 23 with a 1.28% gain in value as of morning hours. SOL, which rose up to $ 25 on Tuesday, retreated to $ 22.60 when it could not maintain this level. A descending triangle movement appears between the support level at $25 and 22.60, the level where the correction started. If the support level of 22.60 is broken downwards, it may be possible to retreat to the $ 22 level.
As of morning hours, LINK is pricing at 7.509 with a 0.60% gain in value. After being under selling pressure at 8.2, it seems to have found support at 7.2. At a loss of $7.2, we are likely to see the 7 level first. LINK, which failed at the upside breakout of $ 7.7, seems possible to retreat to the level of 7.30.
TOMO is pricing at 1.4275 with a gain of 1.34% as of morning hours. TOMO, which moved upwards with the break of the 1.33 resistance level on Monday, seems possible to make an upward movement again by supporting the resistance level it broke. The first resistance level of 1.46 is important for TOMO. In the opposite scenario, the following support levels are 1.33 and 1.25.