CryptoWatch brings you a round-up of the top cryptocurrency news in the week, and it aims to explain more of the market that is still in a volatile state and brings many changes in the current market. There are many highlights in the past week, and it includes the laws involving Bitcoin mining in New York, the recent evolution of Terra to Terra 2.0, and Solana's extensive outage.
(Photo : Kanchanara via Unsplash)
New York's Bitcoin Mining Law
Assembly Bill A7389C finds full approval in New York's Justice Department. It is not tolerating any form of Bitcoin mining that focuses on carbon usage, as it leaves a harmful footprint on the environment. Additionally, it focuses on taking massive amounts of power from the grid, and it may result in outages in the state.
The Bitcoin Mining Law in New York is an extensive take that aims to change the ways of miners and those involved in cryptocurrency, suggesting taking other forms in their need to mine. The power distribution brought by this venture will give everyone stakes for what they need, giving them the energy that they pay for in their bills.
There would be a need to prove their transactions and mining processes to validate whether or not they came from harmful practices and illegal mining procedures.
Read Also: Influencer Crypto Endorsement: Can Celebrities Hide Their Financial Ties? Legality and Other Details
Terra 2.0: Is it the Holy Grail?
Terra 2.0 is here, and the LUNA blockchain brought a massive change to its operations and name after the recent happenings that shook the entire world of cryptocurrency. The aim is to get back people into the crypto coin and have them believe in a stable currency again, especially as it is one of the most questioned coins in the world already.
The rebrand to "Terra Classic" and "Terra v2" in its listings online aims to be the holy grail that would help the coin rise back and bring its former glory from the previous ventures of the company. It is unknown what the future of stable coins will be, especially now that the market is still recovering from the recent outage brought by many factors in the world.
Solana Outage
Solana saw an outage in the past week, and many users and investors thought there was a hack or a breach in the company after what happened that made it inaccessible. The down lasted for more than four hours, and it made a massive impact on its track in the many charts and trading places that focus on the cryptocurrency exchange.
Nevertheless, Solana is back and running now, and it remains an accessible coin for buying and selling in the current market. However, in CoinMarketCap's charts, the cryptocurrency sees a red line and a downward trend in its numbers, and this may be due to the outage that affected its sales and trading among the public.
Related Article: Snoop Dogg Scoops Up Two $760 'rektguy' NFTs from Former Barclays Trader Ovie Faruq
This article is owned by TechTimes
Written by Isaiah Richard
