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Nawaz Sulemanji

Nawaz Sulemanji

Nawaz is a freelance writer who has been in the crypto space since 2013. He started working as a crypto margin trader and has since been writing market updates at Coin Rivet. He holds more than $1,500 in both Bitcoin and Ethereum.

Stories by Nawaz Sulemanji

  • Image: Shutterstock

    ASIC mining profitability plummets following Monero's network upgrade

    The mining hash rate for Monero has tripled following a recent change to the cryptocurrency's mining algorithm. The upgrade, called RandomX, is meant to make mining on the network more “general-purpose CPU” friendly. The change was implemented via a network hard fork—a non-backwards compatible blockchain upgrade. The upgrade implemented a new proof-of-work mining algorithm that uses “random code execution together with several memory-hard techniques.” Its purpose is to minimize the efficiency ad...

    NewsCoins
    3 min read
    Nawaz Sulemanji
  • Image: Shutterstock

    Quantum computing will boost blockchain industry, new report suggests

    Crypto luminaries such as Vitalik Buterin have said that quantum computing—and the advent of Google’s “quantum supremacy”—is no threat to cryptocurrency and blockchain networks, such as Bitcoin and Ethereum. But might quantum computing actually be a boon for the blockchain industry? That’s exactly what a new report from research firm TechNavio is proposing: The “growth of quantum computing will have a positive impact on the market and contribute to its growth significantly,” the firm concludes....

    NewsBusiness
    2 min read
    Nawaz Sulemanji
  • Image: Unsplash

    Japanese startup unveils all-in-one Lightning wallet, Bitcoin full node app

    Japanese-startup Nayuta has just launched what it claims is the world's first “Lightning Network mobile wallet with an integrated Bitcoin full node.” By including a full Bitcoin node in their Lightning wallet application, the firm said that it “gives users improved privacy, security, and self-sovereignty,” according to a statement issued yesterday.  Cuba now has a Bitcoin wallet tailor-made for e-commerce on the island While Nayuta’s hybrid app may be a first, crypto users already had the abilit...

    NewsCoins
    2 min read
    Nawaz Sulemanji
  • IMAGE: UNSPLASH

    Bitcoin wallet addresses reach new all-time high

    The number of Bitcoin addresses that hold any amount of BTC has hit an all-time high at 28.39 million. This level eclipses a previous high of 28.38 million, reached in late 2018.  Using data provided by blockchain analytics firm Coinmetrics, investor Alex Thorn spotted the trend. Commenting on the milestone, Thorn said that calculating the total amount of bitcoin addresses with any balance “is one of the best proxies we have to approximate the total number of individual bitcoin users.” The tota...

    NewsCoins
    2 min read
    Nawaz Sulemanji
  • IMAGE: UNSPLASH

    Tezos (XTZ) rockets 30% in a week to recover $1 billion market cap

    The price of Tezos (XTZ) is up 30% this week and 5% today as the proof-of-stake cryptocurrency's total market cap recovered to hit $1 billion. Priced at $1.58, Tezos is again approaching its May 2019 high of $1.70 after losing over 50% of its value, hitting a low of $0.77 in late October this year. Since then, the Swiss-based project has rallied over 100% in the last 6 weeks after the US-based exchange giant Coinbase launched XTZ staking services on its platform. Following its rally, Tezos is c...

    NewsMarkets
    2 min read
    Nawaz Sulemanji
  • IMAGE: UNSPLASH

    Deutsche Bank's surprising cryptocurrency prediction for 2030

    In a new report looking at money trends over the next decade, German finance giant Deutsche Bank has suggested that cryptocurrency adoption could soar as a result of increasing fragility inside today’s fiat financial systems.  In the 84 page report that was written by Deutsche Bank strategist Jim Reid, he gave an overview into the “end of fiat money” and the subsequent rise of digital currencies in its place.  In the forward-looking document, Deutsche Bank warned that “eventually, it is possible...

    NewsBusiness
    2 min read
    Nawaz Sulemanji
  • IMAGE: UNSPLASH

    These top tech firms are excited about blockchain again

    Mentions of the word “blockchain” on US-quarterly earning calls saw its first rise in nearly two years. According to data from CB Insights, the number of mentions increased around 25 percent to reach 125 mentions in Q4 2019. This is the first quarterly rise since blockchain mentions rose to a peak of around 275 in early 2018.  The renewed focus on blockchain for US-listed companies is important as it indicates a renewed focus on the use of distributed ledger technology (DLT) to drive both innova...

    NewsBusiness
    6 min read
    Nawaz Sulemanji
  • Image: Unsplash

    Binance Bitcoin futures trading volumes doubles in 24 hours

    Daily Bitcoin trading volume has doubled over the last 24 hours at the Binance futures exchange. The derivative exchange allows traders to speculate on the price of Bitcoin against the US-dollar with up to 125X leverage.  Since the launch of the Binance futures’ bitcoin derivatives market in mid-September, daily trading volume has been on a consistent upward climb. After spending most of its first month around the $400 million a day mark, trading volume surged to a high of $820 million in mid-Oc...

    NewsCoins
    2 min read
    Nawaz Sulemanji
  • IMAGE: UNSPLASH

    European Central Bank may fast track its plans for a digital currency

    The European Central Bank (ECB) today revealed that it is considering accelerating its plans for a central bank digital currency (CBDC) if consumers continue to move away from cash for payments. After initially looking into the possibility of releasing its own digital currency in May this year, the European Central Bank has been investigating the issuance a CBDC to help ensure that the general public remains “able to use central bank money even if the use of physical cash declines,” according to...

    NewsBusiness
    2 min read
    Nawaz Sulemanji
  • IMAGE: UNSPLASH - Lee Kurth

    Crypto is infected with wash trading, warns analyst

    The crypto industry is no closer to finding a cure for the potent levels of wash trading in its system, according to crypto analyst Mati Greenspan. He pointed out on Twitter that many cryptocurrencies have unusually high daily trading volumes.  For example, Tether has trading volume that’s 500% of its market cap, according to CoinMarketCap data. When looking at other popular cryptocurrencies like Bitcoin Cash, EOS and Litecoin he saw a trading to market cap percentages of 30%, 66% and 93% respec...

    NewsBusiness
    2 min read
    Nawaz Sulemanji
  • New York. Image: Unsplash

    SoFi gets New York BitLicense, set to offer crypto trading in the state

    San Francisco-based finance firm SoFi today announced that it has successfully obtained a BitLicense from the state of New York. The state’s blessing allows SoFi to begin acting as a virtual currency and money transmitter, and enables the company’s clients in New York to begin trading crypto through its platform.  In September, the firm, which built its business in traditional finance and student-loan refinancing, announced a pivot to crypto, opening up Bitcoin, Ethereum, and Litecoin trading to...

    NewsBusiness
    2 min read
    Nawaz Sulemanji
  • PHOTO CREDIT: UNSPLASH

    Bakkt Bitcoin futures hits yet another all-time high

    Bitcoin futures trading at Bakkt has broken another milestone this week. Following last week’s record-breaking haul for trading volume—over the last two weeks, open trading interest has rocketed from under $1 million to a record $6.5 million yesterday. In comparison to daily trading volume—that indicates the volume of trades that were executed on the platform on any given day—open interest is the total sum of all traders with active “Long” or “Short” trading positions open at the CFTC regulated...

    NewsBusiness
    2 min read
    Nawaz Sulemanji
  • PHOTO: UNSPLASH

    Bitcoin startup RSK launches $200,000 grant program for dapp developers

    Bitcoin startup Rootstock (RSK) today announced that it will be putting up $200,000 in grant money to fund the development of dapps built on the Bitcoin blockchain.  To qualify for a grant and mentorship from the RSK team, developers can submit their ideas which will then go through a four-stage application process that includes a round of feedback from the RSK team. RSK, which bills itself as the “first smart contract platform secured by the Bitcoin network,” says it is looking for developers t...

    NewsBusiness
    2 min read
    Nawaz Sulemanji
  • PHOTO: SOFTBANK

    Softbank is bringing blockchain to millions of its users

    UPDATE: We have received information from Softbank's PR that the initial press release was not sent by Softbank Corp and is currently being investigated. We will update when we know more.  Japanese multinational conglomerate Softbank revealed a new debit card that can be used to make both conventional fiat and blockchain-based digital currency payments.  The new product, named simply SBC Wallet Card, features a prepaid debit card, a blockchain-based wallet—that can be used either “hot” or “cold”...

    NewsBusiness
    2 min read
    Nawaz Sulemanji
  • PHOTO: UNSPLASH

    Bitcoin HODLers are avoiding the volatile price markets

    The majority of Bitcoin HODLers have not moved their crypto in over 12 months, according to new research. Data analyzed by bitcoin analyst Rhythm found that 11.58 million (or around 60% of Bitcoin circulating supply) have not moved wallets once in the last 12 months. Commenting on his analysis on Twitter, Rhythm said that "even with a 85% increase in price during that time, those millions of bitcoin were not sold or traded—Hodlers of last resort are insane." 11,580,00 bitcoin have not moved in...

    NewsMarkets
    2 min read
    Nawaz Sulemanji
  • PHOTO: UNSPLASH

    VeChain (VET) rises 25% in 24 hours thanks to token buybacks

    The price of the VeChain (VET) has risen by over 25% in the last 24 hours. The rally comes as the project's foundation conducted a token buyback. News also broke yesterday that Microsoft and game developer Eidos are jointly developing an NFT (non-fungible token) based game on the Thor blockchain, VeChain's main net. With its VET token currently trading at a price of $0.0077, the price of VeChain is up 34% in the last week and 89% in the last 30 days. That, however, does not tell the full story—a...

    NewsMarkets
    2 min read
    Nawaz Sulemanji
  • Image: Unsplash

    The Bitcoin “halvening” is coming in 2020; what does it mean?

    The “halvening” is coming: in mid-May 2020, the supply of Bitcoins issued as mining rewards will be cut in half, again. Will the halvening cause a boom in the price of Bitcoin? Based on the last time it happened, it’s not completely out of the question. Here’s everything you need to know. When Bitcoin block 630,001 is reached—predicted to take place on May 14, 2020—the mining reward will drop from 12.5 BTC to 6.25 BTC per block. This would be the third halving event for Bitcoin; it happens appro...

    Deep DivesLong Reads
    8 min read
    Nawaz Sulemanji
  • PHOTO: UNSPLASH

    Stolen UPbit Ethereum funds on the move to Binance, Huobi

    Yesterday, $50 million worth of ether (ETH) was lifted from South Korean crypto exchange UPbit. Today those funds have started moving. According to blockchain security research firm Pecksheild, out of the 342,000 ETH compromised, around 340,000 ETH have so far been split between four new Ethereum addresses, as the hacker tries to diversify the funds. Even more, some of the funds have been sent to crypto exchanges Binance and Huobi. Chiachih Wu, cofounder of blockchain security company PeckShield...

    NewsBusiness
    2 min read
    Nawaz Sulemanji
  • The European Central Bank is based in Frankfurt. Image: Unsplash

    ECB investigates digital currency over fears Europe is “losing its economic edge”

    As China continues to develop its digital Renminbi in a move to gain global financial dominance, Europe is now recognizing the need to keep up.  In a speech published today, ECB executive board member Benoît Cœuré said that there is a lack of European solutions for online payments, leading to a reliance on non-European solutions. To solve this, he argued, Europe needs to innovate with either a central bank digital currency or an alternative digital payments strategy. “Dependence on non-European...

    NewsBusiness
    2 min read
    Nawaz Sulemanji
  • Image: UNPLASH

    Binance adds fiat support to buy crypto using Indian Rupee

    Binance has added support to purchase bitcoin and cryptocurrencies with Rupee-based bank transfers, powered by the Indian digital assets exchange WarizX. While Bitcoin is not banned in India, it’s very hard for citizens to buy and trade bitcoin because local banks aren’t allowed to interact with crypto companies. WarizX is one of the few crypto exchanges still operating in the country, with more than 200,000 users and sees $30 million in trading volume per month. But it’s still low considering t...

    NewsBusiness
    2 min read
    Nawaz Sulemanji
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