November crypto market brings price drops

In November, the crypto market started with a security incident on the BitMEX platform. The Exchange accidentally sent an email notification that included the addresses of over 30,000 users.

Gafa has affected the reputation of the crypto derivatives platform, which has decreased in volume in recent months.

Binance, however, seems poised to take the opportunity – the exchange saw significant increases in BTC futures volumes, reaching $ 2.7 billion in November. It also announced the launch of ETH futures later this month.

Bitmain vs Canaan Creative

Another scandal that attracted the attention of the crypto community was that of Bitmain co-founder Micree Zhan. He was fired abruptly by the company’s CEO, Jihan Wu. The situation inside the largest producer of crypto mining hardware is tense, with threats of legal action.

Apparently, one of the topics that has generated misunderstandings among the founders is a possible listing on the US stock exchange. Rumors have circulated that Bitmain would have filed the necessary documentation for an IPO, but the information was not officially confirmed.

However, the rival Canaan Creative has shown that this is not the right time for an IPO. The company managed to raise only $ 90 million after listing on the US stock exchange, although the initial plan was to raise $ 400 million.

November crypto market brings price drops

This month, Bitcoin dropped from $ 9,500 to a low of $ 6,600 by the end of the month. There have been fears that crypto miners will abandon again due to lower profitability. In addition, the Chinese authorities have announced control measures on Chinese mining farms and crypto exchanges. However, the mining industry appears to be unaffected – several large mining farms are currently being built in the United States.

In terms of Romanian projects, the Elrond token (ERD) has been integrated into the Galaxy S10 wallet, and users also have access to dApps built on this blockchain.

The pursuit of Bitcoin has also launched an educational initiative for those interested in cryptocurrencies and blockchain. Every Thursday (this week is an exception and is held on Wednesdays), there are presentations and discussions on different topics, involving Romanian entrepreneurs and investors from the crypto market.