🗺 Bybit crypto exchange has announced that it has opened a global headquarters in Dubai

The long-awaited event took place almost 1 year after the firm announced plans to settle in the UAE.

🥈 The company assured: among more than 400 crypto and blockchain companies, Bybit ranked 2nd among exchanges in the region.

💬 In less than the last 12 months, trading volumes in the Middle East and North Africa have reached $33.5 billion.

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🥅 The daily income of miners has reached a maximum in 10 months

This is due to the rapid growth of the main cryptocurrency.

📈 As reported by the Reuters news agency, the average daily income of BTC miners in 30 days rose to $27.34 million.

💬 This is the highest figure since June 2022.

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💰 A new interface for buying BTC has appeared in the Telegram bot Wallet

The developers of the bot announced the introduction of the possibility of buying, withdrawing and exchanging BTC directly through the web interface.

💳 You can do this in the «Market» section using a bank card or via P2P.

💬 The Wallet web interface also allows you to exchange TON, USDT and BTC among themselves.

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🥅 The WEF recognized the environmental benefits of mining

The organizers of the World Economic Forum said that this activity can significantly reduce greenhouse gas emissions into the atmosphere.

💬 BTC mining will also give people the opportunity to earn digital assets without the risks inherent in trading in an unstable cryptocurrency market.

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💰 The correlation of gold and BTC has reached another historical extreme

The indicator has continued to grow steadily since March 2023, when the banking crisis began to develop in the United States.

📈 Now, according to the analytical publication Kaiko, the 30-day direct correlation of BTC and gold has reached 57%.

💬 This indicates that the flagship of the crypto market is increasingly being viewed by investors as a tool for risk diversification.

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🔤 BitOasis has received a license to work in Dubai

The Dubai Virtual Asset Regulatory Authority (VARA) has stated that no firm has yet received a license at the full market product stage.

💬 Thanks to the license, the crypto exchange will be able to provide broker-dealer services to qualified retail and institutional investors in Dubai in accordance with the VARA regulatory regime.

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🪙 Jack Dorsey's Block has developed a prototype of an ASIC chip for open source BTC mining

With the help of development, the company seeks to reduce the centralization of mining and related equipment.

⚙️ The decisions taken will allow the company to «bring more efficient and affordable mining equipment to the market».

☁️ Back in 2021, the ex-head of Twitter proposed creating a universal and eco-friendly system for mining cryptocurrencies with open source code.

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💰 The current BTC halving cycle is 75% completed

According to experts, the future holding, as well as a combination of circumstances and time, will become a springboard for the growth of the value of BTC.

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🏆 Coinbase management called the UAE a possible strategic hub

The statement is timed to coincide with the visit of the CEO of Coinbase and other top managers of the platform to the UAE, during which they are expected to meet with local regulators.

💬 «The country serves as a strategic bridge between Asia and Europe — two key foreign regions for us today», — the commentary explains.

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💰 BTC miners do not sell coins amid high commissions

According to Glassnode, recently the commission on transactions in the BTC network exceeds $30. The last time such dynamics was observed during the active bull run in 2021.

✅ Such circumstances are very beneficial for crypto miners. Analysts had concerns that miners could sell off some assets in order to realize higher revenues.

However, on-chain metrics indicate that the volume of transactions from them remains quite low.

💬 For BTC, this is a fairly positive sign, indicating that miners are now adhering to accumulation tactics.

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📚 Category: crypto dictionary — complex concepts in simple language

• Timeframe — the time interval on the chart of the traded asset. Due to the consideration of charts on different timeframes, it is possible to analyze the movement of the cryptocurrency price.

• Volatility — the range of changes in the price of an asset over a certain period of time. The higher the rate jumps, the higher the volatility indicator.

• A stablecoin — cryptocurrency whose value is tied to a particular fiat currency (dollar or euro) or a physical asset (gold).

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📊 The correlation of BTC and ETH has fallen below 80% for the first time since November 2021

This indicates that the two largest cryptocurrencies by capitalization are becoming less dependent on each other.

☁️ The indicator began to decline in March, when BTC began to outperform other cryptocurrencies amid turmoil in the US banking sector and increased regulatory attention to altcoins.

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📈 The hype around BRC-20 tokens led to a jump in the income of BTC miners

The daily receipts of miners from commissions in terms of a block 5 times in history exceeded the rewards from its mining (6.25 BTC).

💰 During the month, crypto miners earned $100 million on commissions and $773 million on the creation of blocks.

💬 For the first indicator, the share of total revenues reached 11.5%, which coincides with the levels observed during the bull markets of 2017 and in 2021.

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⚙️ Bitmain has introduced a new ASIC miner Antminer KS3

It is designed to mine the not-too-well-known cryptocurrency Kaspa with a capitalization of $356 million.

✅ The power of the device is 8.3 TH/s with an energy consumption of 3188 Watts. The efficiency reaches 0.38 J/Gh.

💬 The price of the device is still unknown. Deliveries will begin in August this year.

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🪙 IOTA aims to conquer the UAE market

The network is gaining popularity among blockchain users thanks to recent advances in the Tangle ecosystem and the introduction of the Shimmer network.

🤝 Now the team is actively establishing relations in the UAE, which is considered one of the friendliest and most favorable regions for the development of the blockchain and crypto industry.

💬 «We are looking forward to introducing IOTA here and creating value for the region and the world», — the IOTA leader wrote on Twitter.

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🥳 Today is the 13th anniversary of Bitcoin Pizza Day celebration

This day has entered the history of cryptocurrencies, since it was then that the first purchase of a physical product for BTC was made.

💰 Programmer Laszlo Heinitz purchased 2 pizzas for 10,000 digital coins.

💬 Today, this amount seems huge and amounts to about $270.66 million, but at that time this amount of BTC was only $25.

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💰 A BTC tower will be built in Dubai

It will be a hotel chain inspired by BTC and built using AI technology and a focus on zero carbon consumption.

🙅‍♂ The network also used a unique approach to rewarding its guests by offering NFT with exclusive services.

The fee for the number will be set as a cryptocurrency rate and create an annual percentage yield.

☁️ The tower itself will consist of 40 floors and will become a «BTC monument», embodying the values of its creator Satoshi Nakamoto.

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✅ Category: crypto dictionary — complex concepts in simple language

➖ Whitepaper (White Paper) — publicly available document containing structured information about the activities of a project.

➖ Arbitration — the process of making a profit due to the difference in exchange rates. You can buy cryptocurrency on one platform, and sell it more expensive on the other.

➖ Sideways — sideways movement of the market, i.e. smooth movement within certain limits, without significant growth or decline.

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🦮 The Dogecoin blockchain has started to process more transactions than Ethereum

Over the past week, their number exceeded 7.9 million, which is 500 000 more than in the Ethereum network.

↗️ For comparison, since 2015, the number of daily DOGE transactions has averaged 30 000.

The main reason for the growth was the interest of users in the new DRC-20 token standard.

💬 In May, crypto enthusiasts presented the Cardinals update, which allows deploying «digital artifacts» based on the blockchain.

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🤝 Ripple's key partner has joined forces with a major money transfer service in the UAE

We are talking about Tranglo, whose management announced a partnership with Al Ansari Exchange.

🏆 Having a huge customer base of 3 million people and making about 130 000 transactions daily, this company occupies a prominent place in the market.

The new strategic alliance represents an important milestone in the expansion of Tranglo's activities in the Middle East.

💬 According to analysts, the UAE is the second largest global market for «outbound money transfers».

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