KW 21: Bitcoin price rebounds to $40K, Ethereum nears $3K, Crypto miners pull out of China, Huobi suspends domestic bitcoin mining, “Charlie bit my finger” sold as NFT for over 760,000 dollars


Bitcoin price rebounds to $40K, Ethereum nears $3K: The price of Bitcoin surpassed $40,000 on Wednesday, breaking above a key sell area for the first time in five days. Traders expect a broader rally to come and a bullish market structure to form if Bitcoin continues to rise above $42,000 and Ether reclaims $3,000. Bitcoin has been recovering over the past week due to three major factors. First, Tesla CEO Elon Musk and MicroStrategy CEO Michael Saylor have been encouraging Bitcoin miners to use cleaner energy. Second, the Bitcoin futures market has reset to a large extent. According to data from, when BTC crashed to below $30,000, the futures market open interest dropped from $27 billion to $11 billion. This means that the futures market is not overcrowded, which raises the probability of a more sustainable and gradual rally. Third, Ether has been rising rapidly over the past few days, which also benefits Bitcoin and altcoins because ETH saw a deeper correction than BTC.

Crypto miners pull out of China, Huobi suspends domestic bitcoin mining: After Chinese Vice Premier Liu He called for a crackdown on and punishment of „illegal securities activities,“ including crypto mining and trading, cryptocurrency prices went tumbling by double-digits over the weekend. The announcement also prompted several crypto mining and cryptocurrency exchanges to halt their operations in China. Huobi, the world’s second-largest crypto exchange by volume, said in a statement on Sunday that it has suspended crypto mining hosting services and the sale of crypto mining machines in China, according to Coindesk. BTC.TOP, a mining ‚pool‘ that allows coordinated groups to work together to mine new coins, announced a withdrawal from Chinese operations, citing regulatory concerns. Mine operator HashCow has indicated it will suspend new businesses in China and stop purchasing new mining rigs, according to a Reuters report.

“Charlie bit my finger” sold as NFT for over 760,000 dollars: The original „Charlie Bit My Finger“ video was uploaded in 2007 and was seen over 882 million times. The family now auctioned the original video as an NFT and it sold for over $760,000. The sale of the video marks yet another early content creator breaking into the NFT space and profiting off the early viral videos.

Sustainability offensive among Bitcoin miners: A little less than two weeks after Tesla TSLA +2.4% CEO Elon Musk kickstarted the plunge of bitcoin and other cryptocurrencies by announcing that the electric car manufacturer would stop accepting bitcoin as form of payment for its electric vehicles, citing environmental concerns, the mischievous billionaire tweeted that he met with executives of North American bitcoin mining companies. The meeting resulted in a newly-formed Bitcoin Mining Council, focused on promoting the adoption of sustainable cryptocurrency mining initiatives.

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The crypto currency Dogecoin experienced a 33% increase in value compared to the previous day after a tweet from Elon Musk.


MultiChain platform for creating your own blockchain: MultiChain allows companies to develop and operate their own blockchains. The platform, which has existed since 2014, doesn’t offer any integrated token objects such as smart contracts, cryptocurrencies or other digital assets. The advantage of MultiChain is that developers or administrators can create their own blockchain in a short time, but if you really want to work productively with it, you have to purchase a license for the enterprise version. This enables end-to-end encryptions, real-time data feeds, off-chain data purging and much more. The platform can be operated by Windows and Linux devices. These possibilities are shown in more detail on the GetStarted page of MultiChain.

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Blockchain project becomes ‘one of largest social experiments in the world’: A blockchain project believes it can achieve massive scalability while pushing the boundaries of decentralization. When this “truly decentralized” blockchain launched on May 7, 2020, it had not sold a single token. A year later, Free TON still hasn’t — and won’t — TON Labs CTO Mitja Goroshevsky said on a May 3 Cointelegraph AMA. That’s unique for a proof-of-stake blockchain, which generally relies on validators who stake a fair amount of a project’s tokens to ensure good behavior. But then, very little is normal about the Free TON project, which arose from the ashes of Telegram messaging service’s Telegram Open Network blockchain.


„That kind of technology, I think, is a cornerstone for a new user experience with decentralized apps.“
TON Labs CTO Mitja Goroshevsky on DeBots, secondary smart contracts attached to a main one, that let the contracts execute locally within a user’s browser while interfacing with a blockchain.


Crypto art, computer cats, toilet paper NFT drive up prices: Digital collectibles are currently becoming the market hype of the year. Unlike “fungible tokens” such as cryptocurrencies, euros or dollars, which can all be exchanged within their asset class, non-fungible tokens (NFT) are unique and therefore forgery-proof. Crypto collectors can trade their digital possessions online on their own NFT marketplaces such as Opensea or Rarible. There they can exchange “non-fungible” assets such as art, digital characters and soccer cards for “fungible” assets such as cash or cryptocurrency.

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