The Bitcoin and cryptocurrency markets have seen many cycles of growth and decline. And as much as it may be more difficult to profit during the bear market, know what to do during a market dip.

👉🏽 Not a Financial advice

Read more:
https://twitter.com/CoinsbitIndia/status/1398247766858493953

One of the largest Bitcoin mining farms in North America claimed today that it has mined more than 1,000 BTCs using only hydroelectricity.

Bitfarms has mined up to 1,006 Bitcoins year to date, which is equivalent to nearly $ 36.5 million at current pricing.
"We expect to more than double our installed hydropower infrastructure in Québec," the firm announced.

This is another example of how miners are using renewable energy sources to mine Bitcoin.

An earlier Cambridge study reported 76% of hashers operate with renewable energy.
https://twitter.com/CoinsbitIndia/status/1398572597265125379

Polygon, formerly known as Matic Network, an Ethereum layer-2 solution, recently announced the integration of its blockchain datasets on Google Cloud.

The initiative aims to properly inform developers, data analysts, and cryptocurrency enthusiasts about the Polygon blockchain.

Google's BigQuery would provide simple and orderly querying and in-depth analysis of Polygon's on-chain data via the Google Cloud Platform.

This development opens up various new possibilities for Polygon, and is a major milestone for the project itself.
https://twitter.com/CoinsbitIndia/status/1398942823613829122

Chainalysis, a blockchain analytics platform, reports that large investors purchased tens of thousands of Bitcoin as prices fell below $40,000.

1.2 million $BTC were sold at a loss of 5% to 25%. Additional 120,000 Bitcoin were sold at a loss of 25% or more. According to the blockchain analysis business, the majority of the selling occurred among short-term holders.

Whales bought the dip.
https://twitter.com/CoinsbitIndia/status/1399289879603793924

Over the past few days, major Indian banks had been denying services to Cryptocurrency exchanges, citing a 3-year-old RBI circular that was quashed by the Supreme Court.

Today RBI issued a circular stating that banks can continue to service these platforms.

RBI has stated that the circular is "not in order as this circular was set aside by the Hon'ble Supreme Court on March 04, 2020."

This is great news for the Crypto community in India as these uncertainties were a major hurdle to crypto adoption.

https://twitter.com/CoinsbitIndia/status/1399371417683038215

Ethereum 2.0 is highly anticipated and it shows.

Per recent data, the Eth2 deposit contract has more than 5.2 million staked ether worth over $13 billion locked into the smart contract.

Holders have locked a total of 5,210,370 ETH into the Beacon Chain contract.

On November 4, 2020, the contract was launched, and just three weeks later, it achieved the requisite threshold to activate the Beacon Chain.

Per Dune Analytics statistics the contract is 993.66% above the 524k threshold.
A user needs 32 ETH ( $85,000) to become a validator.

Out of the 108,461 transactions delivered to the Eth2 deposit contract, 27,100 were unique depositors.

As of May 30, approximately 152,261 validators are recorded.

https://twitter.com/CoinsbitIndia/status/1399657694135418885

According to data from on-chain monitoring service Glassnode, Bitcoin supply is becoming increasingly scarce despite price drop.

“The magnitude of accumulation over the past two years is remarkable, however, the scale of the sell-pressure in May is also notable."

On June 2, the active supply of Bitcoin fell to a five-month low of 44.5 %. The statistic represents coins that have changed hands in the past two years or earlier.

The last time it was that low, BTC/USD was trading near $22,000. This is indicative of $BTC being undervalued.

https://twitter.com/CoinsbitIndia/status/1400022601146146823

According to CEO Tan Min-Liang, gaming company Razer is actively considering joining the cryptocurrency industry.

Tan stated during his company's annual general meeting earlier today that their user base was interested in digital assets.

Razer also expressed concern about the crypto industry's effects on the environment and on GPUs.

While the company is unlikely to launch its own cryptocurrency, Tan indicated that it may accept "one or more" cryptocurrencies in exchange for its hardware and services.

This goes to show that blockchain and cryptocurrencies are disrupting different industries as mainstream adoption is on the rise.

As the industry continues to mature, several other big names are expected to switch to the future of money.

https://twitter.com/CoinsbitIndia/status/1400392679620431872

According to a June 3 tweet by renowned leaker Tom Henderson, the upcoming version of the popular Grand Theft Auto franchise may award players with cryptocurrency rather than cash for completing certain missions.

"I heard recently that in GTA 6, some missions will
reward you in bitcoin instead of cash for completing some missions."

Henderson also says the game would incorporate a broker for various cryptocurrencies, which he believes will be "huge" for the sector.


However, he clarified that in-game cryptocurrency is not expected to dubbed "Bitcoin", but rather "it will be a cryptocurrency."

While Henderson's statements should be taken with a dose of skepticism, it's worth noting that he is renowned in the gaming scene for his gaming leaks.

https://twitter.com/CoinsbitIndia/status/1400745608399310852

⚡️Bitcoin FAQs⚡️
Who and What determines the price of the Biggest Crypto?, Factors that affect the price of Bitcoin are-
1️⃣ Regulation
2️⃣ Competition
3️⃣ Supply
4️⃣ Electricity costs
5️⃣ Governance
👇🏽Read more:
https://twitter.com/CoinsbitIndia/status/1400774844296269826

SpaceX and SpaceChain have partnered to launch an Ethereum node into space.

SpaceChain verified in a Friday blog post that an Ethereum node has begun its flight on a SpaceX Falcon 9 rocket.

Australian digital asset management fund Nexus will be granted direct access after the node is connected to the International Space Station. The startup offers blockchain and IoT solutions for web-native clients.

“With Ethereum’s smart contract platform running in outer space, it enables us to fortify blockchain applications and transactions with enhanced security and immutability,” said Zee Zhang, SpaceChain’s co-founder, and CEO.

In the future the $ETH node will be available to others.
https://twitter.com/CoinsbitIndia/status/1401120202037731336

The president of El Salvador, Nayib Bukele, recently indicated that he intends to introduce legislation in Congress on Tuesday to make bitcoin a legal tender in the country.

Bukele believes that the crypto industry would boost financial inclusion and generate employment.

This country's central bank will incorporate Bitcoin as part of its reserves while the public can freely use Bitcoin as a currency.

Strike CEO Jack Mallers worked with the government to craft the bill that would enable large-scale Bitcoin adoption viable.

This perhaps one of the most significant milestones for Bitcoin and the industry as it paves a way for future adoption, while also portraying how cryptocurrencies can benefit the masses.
https://twitter.com/CoinsbitIndia/status/1401823819673731074

21shares, based in Switzerland, stated that it will begin offering its cryptocurrency exchange-traded product (ETP) to institutional investors in the UK.

The firm noted its intention to offer investors exposure to bitcoin without the hassles of crypto custody and security.

Each ETP unit will represent exposure to approximately 0.00035 BTC entitlement. Liquidity will be provided by GHCO, a leading market maker.

Institutional presence adds to the credibility of Bitcoin, this development will definitely benefit the crypto industry in general.

https://twitter.com/CoinsbitIndia/status/1402176228077965323

🔥 Don't miss SAFEBANK token listing on Coinsbit India! 🔥

💥 Dear users, we are glad to announce that SAFEBANK token will be available on Coinsbit India on 10.06.2021!

🌐 SafeBank is an automatic liquidity generating protocol owned and operated by DafriBank Digital.

🧩 DafriBank aims to address the banking needs of Africa’s growing digital entrepreneurial class — a niche that has been largely ignored by the traditional banks.

©️ Smart-contract: 0x2aB90FBb649bA3DDD4269764eb2975d8F32b7b5a

💵 Pairs:
SAFEBANK/USDT
SAFEBANK/USD

✅ Follow the links below to get more info:
Website: https://safebank.app
Telegram: https://t.me/SafeBank
Medium: https://digitalbankofafrica.medium.com/
Facebook: https://www.facebook.com/SafeBankToken
Twitter: https://twitter.com/SafeBankToken?s=09
Github: https://github.com/SafeBank-Digital/Token-Smart-Contract
Reddit: https://www.reddit.com/r/Safebanktoken/comments/n9qktm/safebank_yes_is_here/?utm_medium=android_app&utm_source=share/

🌈 Stay tuned to get updates and the latest news

🔥 Don't miss GGIVE token listing on Coinsbit! 🔥

💥 Dear users, we are glad to announce that GGIVE (https://globalgive.finance/) token is available on Coinsbit India, keep trading

🌐 GGIVE (https://globalgive.finance/) is a deflationary utility token built on BSC and used to facilitate donations directly to charities and emergency relief funds.

🎯 The aim of GlobalGive is to provide a ground-breaking platform for both global charities and investors alike. Focused on community and philanthropy, GlobalGive's reach extends beyond the crypto world, partnering with institutional, and non-cryptocurrency investors and shaping the future of fundraising and donations to become the token of choice for charities.

©️ Smart-contract: 0x60e9880daef10e960da3c45b076dbdac4f111edf (https://bscscan.com/token/0x60e9880daef10e960da3c45b076dbdac4f111edf)

💵 Pairs:
GGIVE/USDT
GGIVE/BTC
GGIVE/ETH
GGIVE/GBP

✅ Follow the link to get more info
Website: https://globalgive.finance/

🌈 Stay tuned to get updates and the latest news

⚡️KYC is now live⚡️
We regret the inconvenience caused by KYC earlier however we are excited to inform you that our KYC verification is back in action and is now live.

New Airdrop details coming next!

👇🏾Take a look at the KYC video tutorial below:
https://youtu.be/OnJXBCLreLg

Please read step by step instructions on how to do your KYC carefully:
https://link.medium.com/pKg5pDzoYgb


Facing issues with KYC? Please create a ticket in your Coinsbit India portal or send us an email to support@coinsbit.in

⚡️ New Airdrop Rounds Announcement⚡️

Following the huge response to our initial Airdrop, we are now excited to introduce more rounds to preserve the value of the $CIN token & reward our new users at the same time.

👇🏾Full details below:
https://twitter.com/CoinsbitIndia/status/1402953788944621570

Please note: Coinsbit India users have 10 days starting from today to claim their $200 USD airdrop.

According to industry sources, the Indian government has softened its previously hostile position towards virtual currencies and is likely to designate Bitcoin as an asset class in India soon.

SEBI, the country's securities regulator, will oversee cryptocurrency regulations.

The Indian crypto industry is also talking with the finance ministry about forming new regulations, and industry sources say that a ministry panel is studying the matter.

A bill to regulate crypto is likely to be introduced during the monsoon session of the parliament.

The development comes days after RBI directed banks to cease avoiding transactions involving Crypto.

"We are very hopeful that the government will embrace cryptocurrencies and blockchain technologies,” said Ketan Surana, Director and CFO, Coinsbit India, and Member, IMAI.

https://twitter.com/CoinsbitIndia/status/1403285915921833991

Following El Salvador, Tanzanian President Samia Suluhu Hassan urged the country's central bank to explore crypto assets while highlighting the lack of crypto adoption in Eastern Africa.

She expects the central bank to "be ready for the changes and not be caught unprepared.”

Hassan's remarks follow several Latin legislators' calls for further crypto adoption in other emerging economies.

Judging by the current scenario, we can expect many more legislations to start exploring and even accepting crypto, or at the least recognizing it as an asset class.

https://twitter.com/CoinsbitIndia/status/1404372441086840838

Bitcoin philanthropists continue to shine as they managed to garner more than $1.3 million worth of $BTC for the Bitcoin Water Trust, a non-profit looking to provide clean and safe drinking water for those who need it.

The sum was raised in less than three weeks.

The Bitcoin water trust has vowed to hold on to the Bitcoin donations until 2025. Donors include several prominent industry figures.

https://www.charitywater.org/bitcoin
https://twitter.com/CoinsbitIndia/status/1404749545389498370

David Fadairo, a young Nigerian player with Alki Oroklini Cyprus football club, became the first soccer player whose transfer was paid 100% in cryptocurrencies.

The payment was made using TheFutbolCoin a native token for TheFutbolApp, an economic ecosystem for football fans.

This is a major milestone that marks the perfect convergence of the #crypto industry and sports.

This would also act as an entry point for millions of fans out there who would be discovering #cryptocurrencies for the first time.

We can expect more players to follow suit.
https://twitter.com/CoinsbitIndia/status/1405111278054436875