Kaura Network won first KSM parachain slot / BTCM moved 320 mining rigs to Kazakhstan / Fresh Funding

Plus: BTC dropped below $30K for the first time since 1/27

Inside.com Part of   Network June 22, 2021

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The global crypto market cap is $1.32T 1.58%▼ with a 24-hour market volume of $151.35B 25.62%▲. Bitcoin's dominance is currently 47.05% 1.28%▲. CURRENT PRICES BY MARKET CAP # Name Price 24h % 1 Bitcoin BTC $32,950.51 0.27% ▲ 2 Ethereum ETH $1,936.25 1.41% ▼ 3 Binance Coin BNB $272.25 10.38% ▼ 4 Cardano ADA $1.21 6.09% ▼ 5 XRP XRP $0.585 13.34% ▼ *Prices as of 3:00 p.m. ET.

Karura Network won the first Kusama (KSM) parachain slot for $100M. Following the auction, Karura received a 48-week lease to develop on the Kusama blockchain. More: Karura is a testnet version of Polkadot-based crowd-loan and DeFi platform Acala. Over 14K Karura community members contributed $95M to guarantee the project’s parachain slot. Kusama’s second parachain auction is underway, with Moonriver, Bifrost, and Khala Network currently in the top contention for the second slot.

BIT Mining (BTCM) announced its successful transfer of 320 mining machines from China to Kazakhstan. The company expects to transfer a total of 2.6K mining rigs amid power cuts to bitcoin mining operations in China. More: BIT Mining’s Ganzi Changhe Data Center received notice from the Sichuan State power grid that its power supply would be cut by June 19. BIT Mining’s Sichuan-based data centers accounted for 3% of the company’s total revenues in May 2021. BTCM shares fell nearly 17% at market open today but since recovered to -4.5%.

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▲ TOP GAINERS # Name Price 24h % 1 Livepeer LPT $23.54 6.91% ▲ 2 Maker MKR $2,372.81 5.59% ▲ 3 SushiSwap SUSHI $7.36 5.24% ▲ 4 UNUS SED LEO LEO $2.57 2.51% ▲ 5 Bitcoin BTC $32,950.51 0.27%▲ ▼  TOP LOSERS  # Name Price 24h % 1 Revain REV $0.007824 23.82%▼ 2 Bitcoin Gold BTG $34.59 19.81%▼ 3 Theta Fuel TFUEL $0.4354 17.68%▼ 4 Waves WAVES $12.98 17.42%▼ 5 NEM XEM $0.1021 14.59%▼ *Limited to cryptocurrencies in the Top 100. Prices as of 3:00 p.m. ET.

🍋Fresh Funding🍋 Pennsylvania-based bitcoin mining firm Stronghold Digital Mining raised $105M. The funding came from two private placements participated in by “mainly family offices.” More: Stronghold is an ESG-friendly BTC mining startup that converts coal waste into energy for mining. The startup claims to eliminate 200 tons of coal waste for each bitcoin mined. With the latest fresh funding, Stronghold plans to advance its bitcoin mining capacity to a target of 28K miners by the end of 2021.

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QUICK HITS Are you tired of trying to keep up with the day-to-day movements of stocks? Ditch day trading and see what long-term investors are using. * Bitcoin (BTC) temporarily dropped below $30K today for the first time since Jan. 27. Digital Currency Group announced plans to purchase $50M in shares of Grayscale’s Ethereum Classic (ETC) Trust as the trust shares trade for a 33% discount. The German Football Association announced plans to create NFT player cards for the Sorare Global Fantasy Football game. Treasury Department nominee Brian Nelson stated that he would push for new AML regulations for cryptocurrencies.  A lawsuit was filed against crypto custodian Fireblocks for alleged mishandling of StakeHound’s ETH 2.0 staking, resulting in the loss of $71M.  Coinbase (COIN) shares narrowly avoided an all-time low yesterday at $210 and are currently trading down 49% since mid-April. Forget trackers. The Apollo Neuro wearable actually helps you stress less and sleep more. Save 10% today. * * Sponsored Content

Griffin McShane is a J.D. candidate currently living in Portland, Maine. He is a graduate of Providence College, where he studied both computer science and business. Griffin aspires one day to go to the moon and bring some of his altcoins along for the ride. Editor Aaron Crutchfield is based in the high desert of California. Over the last two decades, he has spent time writing and editing at various local newspapers and defense contractors in California. When he's not working, he can often be found looking at the latest memes with his kids or working on his 1962 Ford.

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