HomeBlogsOur Man in Shanghai DogeMania ‘Dog Coin’ trademark dogfight hashrate

Our Man in Shanghai DogeMania ‘Dog Coin’ trademark dogfight hashrate

The big news this week happened on April 16th, when a major power outage in Xinjiang wreaked havoc on the BTC hash rate. According to local sources , the hash rates on Ant Mine Pool fell by 21.93%, BTC.com by 18.5%, Binance Mine Pool by 22%, and Huobi Mine Pool by 25.5%. Reports from Cointelegraph linked it with safety inspections resulting from a mine accident in the western-most province. Western China has a strong presence in the mining space due to cheap electricity and equally affordable real estate. Despite miners originally stating the impact would only last 1 to 2 days, the hash rate has yet to rebound. Currently the global rate is under 145 million TH/S , down from a peak of 172 million TH/S the day before the accident. Dogecoin mania set in as buyers on OKEx and Huobi helped drive the price up 370% in one week. These two predominantly Chinese exchanges accounted for 16.9% and 15.9% of global volumes respectively, with Binance making up only 5.2%. Chinese buyers tend to view all assets through the lens of a potential investment, a strong contrast to western investors who were more likely to make memes about the performance on social media. Dogecoin mania didn’t stop there. Tianyancha, a website for enterprise information, showed that two companies have tried to register the Chinese version of Dogecoin. The Chinese name, which literally translates to ‘Dog-Coin’, was the subject of trademark applications by two separate technology companies in Shanghai and Changsha. According to the source , the trademark is awaiting a substantive review. Binance recently appointed a new head of Greater China as the executive roles continue to shuffle. Binance is a very decentralized company which keeps many of the roles and structure hidden from the public eye. The company moved its head office out of China in 2017 after facing a lot of regulatory uncertainty. Still China possesses a high concentration of traders and investors, making the region extremely attractive for centralized exchanges. Li Bo, deputy governor of the People’s Bank of China, raised some eyebrows when he announced at a conference that the bank regards Bitcoin and stablecoins as investment alternatives . In a country where words are not generally left to chance, this is a strong indicator that Beijing’s stance on cryptocurrency continues to soften. In digital yuan news, many fear that stricter monitoring of currency could be another blow to the Macau gaming industry. The region, which depends on the mainland for around 70% of its traffic, would allegedly suffer if illegally-obtained funds became harder to traffic across borders. Finally, the former governor of the People’s Bank of China warned that applying digital taxes could trigger a tariff war . Speaking at the Boao Forum for Asia, he defended China’s growing presence in the digital economy by pointing out the importance of multilateralism. China is slowly extending its influence in neighboring countries through economic policies, a theme that could be accelerated by developed digital yuan infrastructure.

All data is taken from the source: https://cointelegraph.com/
Article Link: https://cointelegraph.com/news/our-man-in-shanghai-dogemania-dog-coin-trademark-dogfight-hashrate-outage-government-warms-up-to-crypto

#china #stockwatch #buybitcoinwithcreditcardnoverification #cryptocurrencynews #cryptocurrencyexchange #cryptonews #cryptoexchange



Please enter your comment!
Please enter your name here

Top Mining Graphics Card

RTX 2080 TI Hashrate, Overclock and Mining Profitability

Nvidia RTX 2080 TI Hashrate can reach up to 58MH/s for mining Etherium ( ETH ) Based on Ethash Algorithm with 150 Watt power...

Latest news

The SECRET Of Making 20X GAINS In Cryptocurrency!! #Doge #shiba inu, #bitcoin


¡ESTA cantidad de XRP podría hacerte millonario!

¡ESTA cantidad de XRP podría hacerte millonario! En este video se analiza Ripple (XRP). Vea qué es XRP y las noticias de XRP. Ripple es...

Dual Investment en Binance – Tutorial paso a paso en español – Vale la pena?

🚀 Cursos, Poly NFT y Venta de RIGS de Mineria en: https://nicolaspalacios.com/ 😎 Sigueme en REDES SOCIALES: https://sleek.bio/magonicolas Descarga la GUIA para construir riqueza, los 5...

SingularityNET & AGIX – Cardano + Artificial Intelligence FTW

Let's take a look at the SingularityNET project, their token AGIX, the ERC20 Converter, and the roadmap for Artificial Intelligence on the Cardano blockchain. //...

luna price prediction |terra luna | luna coin news | luna coin price prediction| 10/April/2022|

luna price prediction |terra luna | luna coin news | luna coin price prediction|10/April/2022| About this video- Doston Main Aapko Is Video Mein Luna Ka Price...

HUGE Polkadot NFT Update, BNB, Litecoin & Vechain News Today!

This is a news today update for Polkadot, Binance BNB, Litecoin and VeChain. In this video I give you the latest and most important...

Litecoin HUGE News is COMING! – LTC Crypto Price Forecast 2022

Litecoin HUGE News is COMING! - LTC Crypto Price Forecast 2022 ✅ ₿.₿. JOIN Bitcoin Bros Patreon for Trade Setups & Calls ➡️ https://www.patreon.com/bitcoinbros ✅ ₿.₿. JOIN...

RX 6700 XT Release and Mining Hashrate

Fixed Discord Link https://discord.gg/wPzpRqSw8R - - Dizzy Mining https://www.youtube.com/watch?v=oOfAaJ51Zck&ab_channel=DizzyMining -Parallel Miner (mining accessories psu etc) https://www.parallelminer.com/?wpam_id=161 -Amazon Affiliate link https://amzn.to/2ZYHopx -Facebook group https://www.facebook.com/groups/brandoncoin/ -Discord https://discord.gg/xrGNT8akr9 RX 6700 XT Release and Mining Hashrate source

Laeeb Inu – The Official Meme Coin of FIFA WORLD CUP

In this video, I will be reviewing Laeeb Inu. This token Website : https://laeebinu.io/ TG : https://t.me/laeebinuportal How to Set Up METAMASK Video ⬇️ https://youtu.be/aPx6QFnsx10 DM Telegram:...

Our Flag Means Death

I love Our Flag Means Death! And this scene was just adorable. @rhysiedarby @TaikaWaititi #taikawaititi #OurFlagMeansDeath Comic book creator, movie maker, painter, Dad,...