Litecoin

The Most Viewed Crypto Videos: Ethereum Captured More Views on Youtube in 12 Months Than Bitcoin

09/04/2021 by Idelto Editor

Total Processing, a merchant services company has published a study this week about the most-watched cryptocurrency videos on Youtube during the last year. Even though bitcoin has climbed 700% since last April, ethereum has climbed 1,100% and videos pertaining to ethereum have accumulated the most views since April 2020.

Ethereum Videos Are the Most Viewed Crypto Asset Videos on Youtube

Digital currencies have exploded in popularity during the last 12 months, and it’s hard to believe how much some coins have gained. There’s a lot of statistics that show the enormous growth of cryptocurrencies like onchain data, the community’s representation on social media, and crypto trading statistics. A firm called Total Processing decided to analyze the data on Youtube during the last year in order to calculate the most viewed crypto-centric videos. Data shows that the smart contract blockchain Ethereum has captured the most views in the last 12 months.

Stats from Total Processing’s data show that ethereum (ETH) videos obtained 231 million views on Youtube, while bitcoin (BTC) captured 199.9 million views. Those two digital assets capture the lion’s share of views and get 4x the amount of views that the third position holds. Chainlink (LINK) got 45.7 million views since April 2020 and the fourth position cardano (ADA) acquired 43 million views. Total Processing notes that while the media plays a big role in cryptocurrencies, “Youtube’s role is just as significant” the company says.

Study Processed 10,000 Youtube Videos

Behind cardano (ADA) is XRP which acquired around 38.5 million views on Youtube throughout the year. This is followed by litecoin (LTC 27.5M views), uniswap (UNI 27.3M views), binance coin (BNB 25.4M views), tether (USDT 22.8M views), and polkadot (DOT) which captured 18.8 million views during the last year.

Total Processing says that other coins and channels saw considerable traction in 12 months. For instance, JRNY Crypto published a video explaining which altcoins he would buy which increased the price of stormx by 189.68% in seven days. Total Processing looked at the crypto assets in the top ten and processed 10,000 videos in total during the course of the study.

What do you think about Total Processing’s findings in regard to Youtube views per cryptocurrency? Let us know what you think about this subject in the comments section below.

Chinese Lottery Firm Rebrands, Purchases Bitcoin Mining Rig Manufacturer for $100 Million

08/04/2021 by Idelto Editor

Following the acquisition of the Chinese mining pool Btc.com, the China-based lottery company 500.com revealed the purchase of a bitcoin mining rig manufacturer Bee Computing. The Shenzhen firm purchased the semiconductor and mining device manufacturer for roughly $100 million in a share exchange agreement.

500.com Changes Name to Bit Mining Limited and Acquires Bee Computing for $100 Million

On April 5, 2021, the company 500.com Limited (NYSE: WBAI) registered a statement with the U.S. Securities and Exchange Commission (SEC) in a Form 6-K filing. The Shenzhen-based firm detailed that it entered into a share exchange agreement with the company Bee Computing. The mining rig manufacturer Bee Computing was established in 2018 and the filing notes that it specializes in 7nm-powered mining machines. Additionally, after acquiring the well-established mining pool Btc.com, 500.com changed its name to “Bit Mining Limited.”

Bee Computing has two mining rigs and both leverage 7nm semiconductors. The Pumbaa mining machine gets around 52 terahash per second (TH/s) and the B2T series gets around 21 TH/s. The most powerful miner has an efficiency rating of around 54 joules per terahash (J/TH) and the B2T has around 55 J/TH. The share exchange agreement is noteworthy and totals around $100 million for the acquisition.

The company’s SEC filing explains:

Pursuant to the share exchange agreement, the company shall, subject to customary conditions, [and will] issue at the first closing an aggregate of 16,038,930, or US$35 million worth, of its Class A ordinary shares to the selling shareholders. The first closing is expected to occur in the second quarter of 2021. Subject to satisfaction of the following milestones, the company shall issue at the subsequent closing an aggregate of 29,786,600, or US$65 million worth, of its Class A ordinary shares to selling shareholders and research and development team members.

Bee Computing to Continue Mass ASIC Mining Rig Production

Bee Computing is expected to continue the mass production of bitcoin miners incorporated with 7-nanometer application-specific integrated circuits (ASIC). The manufacturer must continue the development of machines with 7nm technology and deploy ETH-based ASIC mining machines as well. Bit Mining also wants Bee Computing to develop litecoin (LTC) mining machines.

According to the filing, Bee Computing has invested over $35 million into R&D projects and leveraged Mediatek Inc., the largest IC design company in Asia to help with the 7nm chips. Yufei Jiang, CEO of Bee Computing says the chips stem from Taiwan Semiconductor Manufacturing Company (TSMC).

What do you think about 500.com’s purchase of Bee Computing and its entry into the bitcoin mining space? Let us know what you think about this subject in the comments section below.

Bitcoin’s Price Consolidates, Elon Musk Tweet Sends Dogecoin Surfing, Filecoin Surges

01/04/2021 by Idelto Editor

While bitcoin prices have been consolidating just under the $60k handle, a number of other alternative digital assets have seen steep gains. Two coins, in particular, the decentralized storage network filecoin token and the notorious meme token dogecoin have jumped well over 10% during the last 24 hours.

On Thursday, April 1, 2021, otherwise known as “April Fool’s Day,” the popular cryptocurrency dogecoin (DOGE) jumped over 12% during the last 24 hours. The spike in price was immediately after the famous Tesla executive Elon Musk tweeted:

SpaceX is going to put a literal Dogecoin on the literal moon

— Elon Musk (@elonmusk) April 1, 2021

Dogecoin kind of slumped during the course of March but did very well during the first two months of the year. During the last seven days, DOGE is up 19% against the U.S. dollar and 973% during the last three months. On Wednesday afternoon (EST), dogecoin was exchanging hands for $0.058 per coin.
Meanwhile, filecoin (FIL) has been duking it out with litecoin (LTC) in recent times. FIL is trading for $205 per coin and jumped over 12% on Wednesday. FIL’s market cap is around $11.9 billion and filecoin has jumped a massive 151% during the last seven days.

Bitcoin's Price Consolidates, Elon Musk Tweet Sends Dogecoin Surfing, Filecoin Surges — FIL/USD markets on Coinbase on April 1, 2021.

Statistics from bybt.com show that inflows into Grayscale Investments‘ Filecoin Trust is where some of the action has stemmed from, while demand on spot exchanges has increased as well. Data shows on Wednesday that filecoin (FIL) trade volume is around $4.66 billion across global crypto exchanges.

In addition to dogecoin and filecoin, both binance coin (BNB) and chainlink (LINK) have seen solid gains during the last day as well. Besides FIL and DOGE, the two currencies are leading the pack as far as 24-hour gains are concerned. BNB saw a 4.6% jump in value during the morning while LINK spiked by 6.9% on Wednesday.
The biggest gainers on Wednesday included medibloc (MED +75%), armor (ARMOR +73%), and verasity (VRA +71%). Today’s losers with the most percentages losses were coins like bumo (BU -66%), kimchi.finance (KIMCHI -46%), and cybereits (CRE) which is down a touch over 40% today.

What do you think about today’s crypto gainers and losers? Let us know what you think about this subject in the comments section below.

Norway’s Fourth-Richest Man Invests in a Crypto Mining ASIC Manufacturer

13/03/2021 by Idelto Editor

According to regional reports, the Norwegian billionaire and hedge fund manager, Ole Andreas Halvorsen, is investing funds into an energy-reducing cryptocurrency mining chip hardware company. The company Norway’s fourth richest man is investing in claims to build application-specific integrated circuit (ASIC) mining chips that are allegedly 300%-500% more energy efficient than existing hardware.

Norwegian Hedge Fund Giant Dips Into the Crypto Economy

Norwegian news reports detail that the billionaire hedge fund manager Ole Andreas Halvorsen is dipping his toes into the cryptocurrency space. A report from Trijo explains that the hedge fund manager and cofounder of the Connecticut-based hedge fund, Viking Global Investors, is now investing in a cryptocurrency-focused firm called Harmonychain.

Halvorsen is joining a number of well known luminary investors from the Norwegian region investing funds into the crypto sphere with investors like Kjell Inge Røkke, Bjørn Dæhlie, and Arne Fredly. Halvorsen himself is considered one of the top-earning hedge fund managers worldwide and has captured the 11th ranking hedge fund manager position in the world according to Forbes.

According to the report written by Teodor Stig-Matz, Harmonychain was supposed to be listed on the Oslo Stock Exchange. However, Stig-Matz’s report notes that the listing on the Oslo Stock Exchange was postponed.

The Harmonychain website has a lot of interesting claims about the firm’s microchips as well. The company is in the midst of developing a “dual-purpose Artificial Intelligence (AI) and Scrypt algorithm ASIC Supercomputer microchip.”

The harmonychain.com website adds:

[The microchip] is tailored towards Cryptocurrency accounting/mining that is up to 300%-500% more energy efficient than existing Scrypt accounting computer systems.

Harmonychain’s Litecoin Scrypt ASIC Miner Due Out in Late 2022, Claims an Estimated Payback of 2 Years

Because the chip is Scrypt the Harmonychain chip is dedicated to mining the digital asset litecoin (LTC) and Scrypt-based coins. The firm’s claims that the chips are 300%-500% more energy efficient would essentially reduce computer energy use by 70-80%. If research and development goes well, Harmonychain hopes to deploy the Scrypt ASIC semiconductors with AI potential by 2022 or 2023. The startup insists it will be the most profitable mining hardware available when released.

“The ASIC is designed as a dual purpose chip with edge AI potential,” harmonychain.com’s website states. “If prototype production works well, we plan to start mass deliveries in H2 2022 and 2023. According to industry standard, customers can expect to prepay approx. 9-12 months prior to delivery. The Supercomputer is poised to be the most profitable Crypto hardware on the market. Our Crypto Supercomputer miners have an estimated payback of less than 2 years,” the company’s FAQ adds.

Halvorsen joining the crypto economy is a bullish sign to many digital asset investors and enthusiasts. He is one of the most respected hedge fund managers worldwide and a protégé of hedge fund manager Julian Robertson. Halvorsen also joins the great number of venture capitalists and well known hedge fund managers stepping into the cryptocurrency economy.

What do you think about Norway’s fourth richest man getting investing in a cryptocurrency mining chip company? Let us know what you think about this subject in the comments section below.

Grayscale Adds 174,000 LTC to Its Litecoin Holdings- Price of the Altcoin Unresponsive

04/03/2021 by Idelto Editor

According to reports, Grayscale added 174,000 tokens to its litecoin holdings in the past month. This haul pushed its total holdings of the altcoin to 1.44 million. Following this acquisition, which represents 80% of all litecoin that were mined in the past month, the total value of Grayscale’s holdings of the altcoin is now just over $248 million.

However, following the large acquisition by Grayscale Investments, LTC’s price movement appears to be unrelated to changing supply dynamics. For instance, Messari data shows that the altcoin only went above the $200 mark between February 12 and 22. However, since then the price has returned to levels below $200 with February 25 being the only exception. At the time of writing, the token was trading at just above $190.

In the meantime, on Twitter, some users are questioning the altcoin’s failure to pump following Grayscale’s massive buying. For instance, one Twitter user, Carolyn Bamberger asks why the price has not pumped. In response, the Litecoin team said:

Large orders like these are usually purchased through an OTC desk as to not immediately impact the market. Some speculate that due to this the supply shock may be delayed.

Still, other users remain unconvinced with this explanation, while a few supporters believe that a price spike will happen soon.

In the meantime, according to data shared by the Litecoin team, in the same period, Grayscale added over 243,000 ETH. This addition meant that as of March 1, 2020, Grayscale held a total of 3.17 million ETH tokens that are valued at around $4.86 billion.

In contrast, only 7,169 BTC were added to Grayscale’s biggest holdings thus bringing the investment company’s total holdings of the crypto asset to over 655,640 bitcoins.

What are your thoughts on Grayscale’s purchase of LTC? Tell us what you think in the comments section below.