[ Press Time: Dec 4, 2020 ]
Despite the Thanksgiving crash to $16,200 after following a mass sell-off from whales, BTC price managed to rebound throughout the weekend. BTC then easily passed the $19,000 mark on Monday to reach its all-time high above $19,892 on December 1st after nearly three years, according to data from Coinbase and Tradingview. Data suggests that institutional demand propelled the rally. Most on-chain data points show that the demand for Bitcoin from institutions has been rapidly increasing. In November, Grayscale recorded all-time high net inflows, and the CME Bitcoin futures market saw its open interest climb near $1 billion.
When the price of Bitcoin officially surpassed its all-time high on Coinbase, it caused the market sentiment to become highly bullish. Shortly thereafter, whales started to sell, causing large liquidations across major exchanges. The confluence of whales keeping BTC on exchanges, which means higher selling pressure, and the sell-off from miners amplified BTC’s downturn. *In the near term, the key support levels for Bitcoin are $18,200, $17,700, and $16,200. There are still large whale clusters in these areas, which could cause a reaction from buyers.
- The content above is formed from some opinions of popular media and analysts all over the world.
Latest News on Filecoin
1) After the update of Lotus v1.2.0 is completed, the gas usage continued to be rising up after a slight and short-term relief, and the nanofil-scale BaseFee reappears; according to the current situation, miners are required to control the amount of messages to be packaged as well as the price of message packaging. (Remark: Lotus is an implementation of the Filecoin Distributed Storage Network)
2) After Filecoin’s mainnet launch, the global community of Filecoin miners has dedicated 1 exbibyte (EiB) of decentralized storage capacity to the Filecoin network, which is equivalent to 4,500 Wikipedias.
- Hansando Pool
1) 12Ships team has finished buying back and burn 1,656,159.87 TSHP with the mining profit in October of 9.53 ETH. The announcement has been published on Medium and disclosed through the Upbit project disclosure channel: https://upbit.com/service_center/disclosure.
2) From Nov.1.2020 to Nov.30.2020, Hansando Pool mined XVG, RVC, and some other cryptos totally valued at $13731.47 minus $5492.26 for the electric bill and $4000 for daily operation & development expenses is the net profit of Hansando valued at $4239.21, which will be used to buy back TSHP. The burning Txid of TSHP will be disclosed after completion.
- Marketing & Cooperation
1) Connecting with IPFS ForcePool to discuss further business co-operation and joining the technical seminar activity on December 1st.
2) Published the first version of a one-page introduction about 12Ships.
3) Launched a Thanksgiving Retweet activity from Nov 26–29 and all the winners were awarded 50 USDT or 100 USDT.
4) Community Members
- Twitter Followers: 3068
- Fans in Telegram group: 1728
- Fans in Kakao Talk: 555
12Ships is a cryptocurrency mining-backed blockchain platform that makes your journey to the blockchain investment AS EASY AS POSSIBLE by providing profitable and high-performance mining infrastructure. 12Ships focuses on technology-driven development of a mining ecosystem including ASIC mining machines, Filecoin mining machines, mining pool, and public chain.