Connect with us

Blockchain

Newport man pledges 25% to search for missing hard drive with 7,500 Bitcoin

Republished by Plato

Published

on

  • An IT engineer is seeking permission to search for a missing Bitcoin hard drive in a landfill site.
  • The device reportedly contains about 7,500 Bitcoin, currently worth over $200 million.

As the largest cryptocurrency saw an exponential growth in value over the past months, many people who sold thousands of BTC in the earlier years are probably stretching their heads in regret now. Likewise, those who lost access to their Bitcoin wallets are speaking up for assistance. Today, an IT engineer from Newport (in the United Kingdom), is confidently seeking permission to search for a missing hard drive in the city’s landfill site. The Bitcoins in the device are estimated to be worth over $280 million at today’s price.

Over $280 million mistakenly disposed

The 35-year-old Newport man, James Howells, narrated that he mistakenly threw away the Bitcoin hard drive, wrongly assuming it was the empty device he had. Howells’ first attempt to search for the missing hard drive – containing 7,500 Bitcoins – proved abortive, as the council failed to permit it. For this second time, however, the Newport IT engineer pledged to offer about 25 percent of the Bitcoins value – £52.5 million or $71.6 million – to the city as Covid Relief Fund.

Howells also explained his strategy for searching the Bitcoin hard drive in the landfill site, and also the safety measures they will adopt to ensure the unhealthy gases from the site don’t escape.

Howells believes his Bitcoin could still be retrieved

“The way the landfill operated in 2013 was when a general waste bin was full, it was given a serial number, it was dragged off to the open pit and it was buried. It was also given a grid reference number,” the engineer explained. “So what that means is, if I could access the landfill records, I could identify the week that I threw the hard drive away; I could identify the serial number of the bin that it was in; and then I could identify where the grid reference is located.”

There are chances that the device, if found, may no longer be working. However, the Newport man said its inner disk may not be affected, which is the core component needed to recover the Bitcoins.

Source: https://www.cryptopolitan.com/newport-man-pledges-25-to-search-bitcoin/

Blockchain

CoinShares Launches a $75 Million Physically-Backed Ethereum (ETH) ETP

Republished by Plato

Published

on

A month after launching a Bitcoin ETP on Switzerland’s SIX Exchange, CoinShares has released a physically-backed exchange-traded product following the performance of the second-largest cryptocurrency – Ethereum. 

  • Describing itself as “Europe’s largest digital asset investment house,” CoinShares is a cryptocurrency-oriented manager with over $4 billion in AUM. The company, headquartered in London, announced the launch of its latest crypto product – a new physically-backed ETP tracking the performance of Ethereum. 
  • Called CoinShares Physical Ethereum, the product is already listed on the regulated SIX Swiss Exchange under the ticker ETHE and has a base fee of 1.25%. According to the company, the cost is “lower than the industry standard” of 2%. 
  • The statement explained that each unit of ETHE is backed with 0.03 Ether tokens at launch. Thus, it provides investors with “passive exposure to Ethereum’s native asset with the convenience of an ETP.” 
  • “In the early days of 2021, we have seen a continuation of last year’s demand in digital assets from institutions. We have also seen an increase in investor interest in Ethereum. We are encouraged by our client’s trust in our team to guide them in their journey through the digital asset ecosystem, and for many, Ethereum is an important part of that journey.” – commented Chief Revenue Officer Frank Spiteri. 

  • It’s worth noting that this is the company’s second similar product tracking the performance of a crypto asset launched this year. Somewhat expectedly, the first one, released in mid-January, follows the largest digital asset by market cap – Bitcoin. 
  • CryptoPotato reported upon its launch that it started with AUM of $200 million, and each unit is backed by 0.001 BTC. 
SPECIAL OFFER (Sponsored)
Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO35 code to get 35% free bonus on any deposit up to 1 BTC.

You Might Also Like:


Source: https://cryptopotato.com/coinshares-launches-a-75-million-physically-backed-ethereum-etp/

Continue Reading

Blockchain

Chainlink Price Analysis: 27 February

Republished by Plato

Published

on

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be taken as investment advice

Bearish sentiment has been the norm over the past few days, with the same being the case at press time for altcoins such as Chainlink. LINK has seen its price hike by around 164 percent since the start of the year. Over the last 7 days, however, with sellers dominating the market, LINK lost close to 28 percent of its value. While there have been some signs of recovery on the price charts, traders cannot discount the possibility of a further dip soon.

At the time of writing, LINK was trading at $25.5 with a market cap of close to $10.5 billion, making it the ninth-largest cryptocurrency according to CoinMarketCap’s list.

Chainlink 1-day Chart

Source: LINK/USD, TradingView

Chainlink’s price surged within an ascending channel formation over the last two months and as expected, the breakout was bearish for the coin. Additionally, Bitcoin also fell over the past week, adding to LINK’s price woes.

At press time, while LINK had strong resistance around the $35.1-price range, it was testing the support at $23.9, just like it has over the past few days. If this support level fails, it is quite likely that LINK will head towards the next support at $19, creating an opportunity for traders to open short positions.

Rationale

The technical indicators for LINK were quite bearish at press time and one can expect a further price drop for the coin in the coming days. At the time, the RSI indicator was quite far away from the overbought zone and was close to the oversold zone, indicating the absence of a buyer-dominated market.

If the RSI drops even further, LINK’s downtrend will continue. The MACD indicator also painted a similar picture after having seen the Signal line go past the MACD line, resulting in a bearish crossover.

Important levels to watch out for 

Resistance: $35.1

Support: $23.9, $19

Entry: $24.7

Take Profit: $19.4

Stop Loss: $34.4

Risk/Reward: 0.56

Conclusion

Chainlink saw its price surge on the charts over the past two months. However, the sentiment has since changed quite significantly and the coin seemed to be firmly in the grip of the bears. The altcoin may see a further price drop in the coming week if the press time support level fails. Such a scenario will result in LINK’s price going below the $20-mark, presenting an opportunity for short positions in the market.


Sign Up For Our Newsletter


Source: https://ambcrypto.com/chainlink-price-analysis-27-february

Continue Reading

Blockchain

Bitcoin Cash, Huobi Token, Zcash Price Analysis: 27 February

Republished by Plato

Published

on

Bitcoin Cash retained the 10th spot on the crypto-rankings, despite being severely impacted by the recent correction in the broader market. Huobi Token flashed bullish signals, but a break above its press time resistance was unlikely. Finally, Zcash was projected to trade within a fixed channel since volatility was low in the market.

Bitcoin Cash [BCH]

Source: BCH/USD, TradingView

Weekly losses on Bitcoin Cash‘s charts amounted to 34% as a correction in the broader market had a negative effect on the crypto-asset. This period also saw $3 billion erode from BCH’s total value as it held on to the number 10th spot in the crypto-rankings by a bare margin, with a market cap of $9.18 billion. At the time of writing, BCH’s price was floating just above its $464-support, while the indicators gave mixed signals on BCH’s future trajectory.

The RSI pointed lower from under the 40-mark and reflected the weakness in price. On the other hand, the MACD moved above the Signal line while the histogram registered rising bullish momentum. With the crypto-market awaiting strong cues, we can expect BCH to remain above its press time support level. If the aforementioned level fails, the next line of defense would be at $421.5.

Huobi Token [HT]

Source: HT/USD, TradingView

The ADX indicator showed that Huobi Token’s uptrend was weakening after the price snapped an all-time high exactly a week ago. In fact, the losses amounted to over 30% following the broader sell-off in the crypto-market. At the time of writing, the altcoin’s price had bounced back from the $15.4-support after the bulls stepped in.

The MACD closed in on a bullish crossover, while the red bars on the histogram moved towards the half-line on the histogram. Either way, its gains would be capped at the immediate resistance and a hike to record levels seemed unlikely over the coming trading sessions.

Zcash [ZEC]

Source: ZEC/USD, TradingView

The Bollinger Bands on Zcash’s hourly charts were compressed as volatility remained low after the price bounced back from its $114.7-support. Weak trading volumes and buying pressure worked against a bullish outcome even though the price looked to breach the $124.75-resistance.

The Awesome Oscillator switched to red from green as momentum moved back and forth over the last few sessions. Moving forward, expect Zcash to remain within its current channel as it awaits stronger signals from the broader market for a definitive move on the charts.


Sign Up For Our Newsletter


Source: https://ambcrypto.com/bitcoin-cash-huobi-token-zcash-price-analysis-27-february

Continue Reading
Blockchain5 days ago

Ankr adds Eth2 futures (fETH) to its staking system

Blockchain5 days ago

Peter Schiff Now Discusses Bitcoin More Often Than His Beloved Gold

Blockchain5 days ago

Long Blockchain Corp has officially been delisted by SEC

Blockchain5 days ago

NFT Platform Ethernity to Launch IDO on Polkastarter

Blockchain2 days ago

NextGen Blockchain Platforms Self-Organize to Win Government Contracts

Blockchain4 days ago

Bitcoin falls to $45K in sequel to 20% BTC price crash

Blockchain3 days ago

Optimized Ethereum Mining Settings for Nvidia RTX 3060 Ti, RTX 3070, RTX 3080 and RTX 3090 GPUs

Blockchain5 days ago

New report predicts NFTs will explode in popularity during 2021

Blockchain5 days ago

MoneyGram suspends Ripple partnership, citing SEC lawsuit

Blockchain5 days ago

Kraken users demand refunds over flash-crash liquidations

Blockchain4 days ago

Elon Musk Reacts to Tesla Losing $15 Billion After Investing in Bitcoin

Blockchain2 days ago

Gemini collaborates with The Giving Block and others, adds donations option

Blockchain5 days ago

$24 million lost in second-largest day of DeFi liquidations

Blockchain5 days ago

Altcoins and DeFi sell-off after Bitcoin’s 17.6% correction below $50K

Blockchain5 days ago

Crypto influencer warns Ethereum fees will drive users away

Blockchain4 days ago

XRP, Basic Attention Token, Compound Price Analysis: 23 February

Blockchain4 days ago

Kraken Reacts to Market Selloff

Blockchain3 days ago

Traditional Banks get serious about enabling crypto-related services

Blockchain5 days ago

Price analysis 2/22: BTC, ETH, BNB, DOT, ADA, XRP, LTC, LINK, BCH, XLM

Blockchain4 days ago

Bitcoin Still Correcting

Trending