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Companies involved in oil production in Russia have come up with a project to organize the mining of cryptocurrencies right next to the oil fields they are exploiting. Data centers devoted to coin minting can be powered by the excess gas released during oil extraction which would otherwise be wasted. 
Ministries and Central Bank Review Crypto Mining Project by Russian Oil Industry
Government institutions in Moscow are now discussing an initiative launched by Russia’s oil companies to start mining cryptocurrency at their extraction sites. The industry is proposing to utilize associated petroleum gas (APG) to generate electricity that can be used in the energy-intensive process of digital coin minting.
Experts say the project can potentially attract foreign investors, primarily from China where authorities have been cracking down on bitcoin mining this year. The industrial activity is effectively banned in the People’s Republic while in the Russian Federation mining isn’t prohibited although it is not properly regulated either.
The Ministry of Industry and Trade has recently asked the Ministry of Digital Development and the Central Bank of Russia (CBR) for their feedback on the idea, Russia’s leading business daily Kommersant reported, quoting a letter sent by the Deputy Minister of Industry Vasiliy Shpak. His department asks the monetary authority in particular whether this would be a legitimate undertaking.

The main act regulating cryptocurrencies in Russia is the law “On Digital Financial Assets” which went into force earlier this year. Additional legislation is needed, however, regarding their circulation in Russia and related operations. The legalization of crypto mining as an industrial activity has been gaining support in government circles with the chairman of the parliamentary Financial Market Committee, Anatoly Aksakov, stating in September that it should be registered as such and taxed accordingly.
Kommersant also quotes a source close to the Ministry of Industry who revealed that one of the large Russian oil companies already has a crypto mining project underway and would like to scale it up. “But this segment is in a legally gray zone and the company fears a negative reaction from the central bank, so it turned to the Ministry [of Industry] which can discuss the risks with the regulator,” the knowledgeable person told the newspaper.
According to available official information, so far only the state-run Gazprom Neft, a subsidiary of Russian energy giant Gazprom and third-largest oil producer in the country, has an actual mining project. The company launched it at its oil field in Khanty-Mansi Autonomous Okrug, a region in Tyumen Oblast. According to a report from January, the oil giant managed to mint 1.8 BTC in a month. Gazprom Neft declined to comment on the matter.
Do you think authorities in Moscow will allow Russian oil companies to mine cryptocurrencies at their oil wells? Tell us in the comments section below. 



























Companies involved in oil production in Russia have come up with a project to organize the mining of cryptocurrencies right next to the oil fields they are exploiting. Data centers devoted to coin minting can be powered by the excess gas released during oil extraction which would otherwise be was...

news.bitcoin.com

Russian Oil Companies Propose to Mine Cryptocurrencies at Their Wells

  An analysis of seven cryptocurrencies, including Bitcoin (BTC), which has just reached a new all-time high price, and Ethereum (ETH), which also managed to do so.
BTC
BTC is trading inside an ascending parallel channel. It has been doing so since Sept 29, when the upward movement accelerated. 
Also, it seems that BTC is in a bullish impulse, which means an upward movement that has five distinct waves. It is currently in the fifth and final wave. 
The channel is created by connecting the lows of waves two and four with the high of wave three. Very often, the high of wave five falls inside this channel. The resistance line of the channel is currently at $70,000. 
Furthermore, a target at a similar level is found by projecting the length of waves one and three. Therefore, there is confluence for a top to be reached near $70,000.
Chart By TradingView
ETH
Ethereum (ETH) has been moving upwards since Sept 21, when it reached a low of $2,650. Since then, it has increased by nearly 63%. 
More importantly, ETH broke out above the $3,960 resistance level on Oct 20. The resistance previously stood since Sept 2. Its breakout is a very bullish since there is no more resistance left until the all-time high of $4,380.
BTC did reach a new all-time high, and ETH is expected to do so soon, if it has not already. 
Chart By TradingView
XRP
On Oct 9, XRP (XRP) broke out from a descending resistance line. This confirmed that the downward movement in place since Sept 8 had come to an end.
However, it failed to sustain its upward movement and was rejected by the $1.20 resistance, which is the 0.618 Fib retracement resistance level. 
Afterwards, it bounced at a confluence of support levels, created by the $1.08 area and the previous descending resistance line. In the future, the line is expected to act as support. 
If XRP were to move above the $1.20 area, the rate of increase would be expected to accelerate.
Chart By TradingView
OMG
OMG Network (OMG) has been moving upwards since Oct 10. However, it was rejected by the $15 resistance area on Oct 13, thwarting the initiation of the upward movement. 
Nevertheless, after another decrease, OMG was successful in breaking out on Oct 21. 
The next closest resistance area is at $18.20, created by the current all-time high price. 
If the token is successful in moving above it, the next resistance area would be at $21.70, the 1.61 external Fib retracement resistance level. 
Whenever a token is at an all-time high, such Fib levels are used in order to find resistance areas.
Chart By TradingView
ENJ
Enjin Coin (ENJ) had been decreasing alongside a descending resistance line since Aug 30. While doing so, it reached a low of $1.18 on Sept 21.
However, it reversed trend afterwards and proceeded to break out on Oct 20. This indicated that the downward movement had come to an end.
The next resistance area is at the Sept highs near $2.20.
Chart By TradingView
DASH
DASH had been decreasing alongside a descending resistance line since Aug 23. This led to a low of $146.3 on Sept 28.
However, the token reversed trend shortly afterwards and broke out from the descending resistance line on Oct 20 (green icon). 
The previous time this occurred, DASH increased by nearly 3x, going from $100 to $280.
While there is horizontal resistance at $216, if DASH manages to break through it, the next resistance would be all the way at $280.
Chart By TradingView
ADA
Similarly to ENJ and DASH, ADA has broken out from a descending resistance line.  However, it has failed to increase above the $2.36 resistance. 
This is both a horizontal resistance area and the 0.382 Fib retracement resistance level. 
Until ADA manages to move above it, the trend cannot be considered bullish.
Chart By TradingView


For BeInCrypto’s latest Bitcoin (BTC) analysis, click here.
  The post Multi Coin Analysis: Ethereum (ETH) Reaches New All-Time High appeared first on BeInCrypto.


Bitcoin (BTC) finally reached a new all-time high price on Oct 20. It is trading inside a short-term ascending parallle channel.
The post Multi Coin Analysis: Ethereum (ETH) Reaches New All-Time High appeared first on BeInCrypto.


beincrypto.com

Multi Coin Analysis: Ethereum (ETH) Reaches New All-Time High


Binance Coin is on the verge of cracking the supply zone at $500 as part of the plan to close the gap to $600.
Dogecoin is back on the investors’ preferred crypto-asset list as it gains traction to $0.3.

Binance Coin and Dogecoin are coming up as the strongest contenders on Tuesday, with significant gains among their peers. On the other hand, Bitcoin appears to have sustained support above $62,000, allowing bulls time to regroup for gains to $65,000.
Similarly, Ethereum has settled above $3,800 following a rebound from support close to $3,600. As reported, it is a matter of when not if for Ether to rally above $4,000 and close the gap to $4,400.
Binance Coin:-
The exchange-based token bulls are putting up a ferocious fight intending to lift above $500. In less than three weeks, BNB has grown by 63% to trade at $495 at writing.
Currently, bulls are tasked with the uphill battle of cracking the seller concentration in the supply zone at $500. A confirmed break above this level would call more buyers into the market as investor risk appetite rises.  The subsequent rendezvous after $500 is $600, a stepping stone to the all-time high.
The Moving Average Convergence Divergence (MACD) adds credence to the optimistic picture as it rises higher above the mean line. Moreover, a buy signal sustained since the beginning of October keeps encouraging bulls to hold tight.
BNB/USD Daily Chart
 Live Chart  
DOGE/USD price chart by Tradingview
Dogecoin:-
Dogecoin seems to have made it back to the investors’ favorite list, considering that it has almost touched $0.3 in a couple of the attempts in October. At the time of writing, the meme-based token trades at $0.253, and the momentum looks strong enough to gain traction to $0.3 in the coming session or few days.
The 50-day Simple Moving Average (SMA) provides DOGE with immediate support. Hence, bulls have little to worry about but to work on the mission to higher highs.
DOGE/USD Daily Chart
 Live Chart  
DOGE/USD price chart by Tradingview
At the same time, the Relative Strength Index (RSI) reveals that the trend is mainly in the bulls’ hands. As this technical index snakes toward overbought, the bullish grip on Dogecoin tightens. Thus, the slightest resistance path remains upward, at least for now.
The post Binance Coin, Dogecoin Price Analysis: October 19, 2021 appeared first on Coingape.


Binance Coin is on the verge of cracking the supply zone at $500 as part of the plan to close the gap to $600. Dogecoin is back on the investors&#8217; preferred crypto-asset list as it gains traction to $0.3. Binance Coin and Dogecoin are coming up as the strongest contenders on Tuesday, with si...

coingape.com

Binance Coin, Dogecoin Price Analysis: October 19, 2021

A widely followed analyst says that one crypto will manage to outperform Bitcoin (BTC) and four big-name altcoins during this bull cycle.
The pseudonymous crypto analyst known as Capo tells his 180,000 Twitter followers that Bitcoin dominance, which is Bitcoin’s market cap compared to the rest of the crypto market, looks to be trending higher, but will likely hit a hard resistance at the 50.00 level.
 
The analyst says that the last time Bitcoin made an all-time high, Bitcoin dominance eventually topped out and plunged, sending altcoins on a new leg up. According to Capo, the same scenario could be around the corner.
“BTC.D update
Not ruling out the move up to 49%-50%
Last time $BTC made a new ATH, dominance kept rising for some days.
Sooner or later it will make new lows. I will hold altcoins until the end of the cycle.”
Source: Capo/Twitter
Once capital starts moving into altcoins, the analyst expects Ethereum to massively outperform Bitcoin, noting that its Bitcoin pair (ETH/BTC) is already forming a bullish structure that suggests an all-time high is right around the corner.
“$ETH/BTC
Bouncing hard within a range that looks like reaccumulation. This is a higher low of a bullish structure. I wouldn’t bet for the downside.
This is good for the altseason.”
Source: Capo/Twitter
With Ethereum outperforming Bitcoin, Capo next predicts that Cardano (ADA) will outperform ETH, Binance Coin (BNB) outperforming Cardano, and Solana (SOL) outperforming Binance Coin.
The one altcoin that the analyst predicts will outperform them all is smart contract platform Polkadot (DOT).
“Expected performance until end of the cycle:
$DOT > $SOL > $BNB > $ADA > $ETH > $BTC”
Polkadot is currently trading at $40 after a massive recovery from $11 in July, according to CoinGecko.
Ultimately, the closely followed strategist foresees the whole crypto market cycle ending when Bitcoin is trading above the $150,000 level, which is about a 145% move up from current prices.
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Featured Image: Shutterstock/sdecoret
The post One Altcoin Will Outperform Solana, Binance Coin, Cardano, Ethereum and Bitcoin This Cycle, Says Popular Crypto Analyst appeared first on The Daily Hodl.


A widely followed analyst says that one crypto will manage to outperform Bitcoin (BTC) and four big-name altcoins during this bull cycle. The pseudonymous crypto analyst known as Capo tells his 180,000 Twitter followers that Bitcoin dominance, which is Bitcoin&#8217;s market cap compared to the r...

dailyhodl.com

One Altcoin Will Outperform Solana, Binance Coin, Cardano, Ethereum and Bitcoin This Cycle, Says Popular Crypto Analyst

Authorities in Belarus and the Russian Federation are taking steps to separate cryptocurrency miners from other groups of power users and deny them access to subsidized energy. This could lead to the adoption of differentiated electricity rates for businesses involved in digital coin minting activities. 
Cryptocurrency Miners in Russia and Belarus May Face Higher Energy Prices
Entities engaged in the extraction of digital currencies in both Russia and Belarus may have to pay more for the electrical energy they need, media reports have revealed. Authorities in both countries are making changes that are likely to result in the introduction of special tariffs for this category of electricity consumers.
The idea has been recently backed by the Russian Ministry of Energy. Crypto miners should not pay for the electricity they use at the rates intended for households, the head of the department Nikolai Shulginov told reporters on the sidelines of the Russian Energy Week. Quoted by the business news portal RBC, Shulginov noted that the ministry is now working on the issue and stated:
To maintain the reliability and quality of power supply, we believe it is necessary to exclude the possibility of electricity consumption by miners at tariffs for the population.
The government official made it clear that electricity rates need to be differentiated. In his view, miners should not be allowed to take advantage of the preferential tariffs as the current situation can deteriorate further. Otherwise, cross-subsidization has to be increased which would be unacceptable, the energy minister elaborated.
Shulginov’s comments came after the governor of Irkutsk Oblast, Igor Kobzev, recently complained to Russia’s deputy prime minister responsible for the fuel and energy complex, Alexander Novak, about illegal crypto miners. Their actions, Kobzev said quoted by the business daily Vedomosti, increase the load on the power grid of the Siberian region and the risk of breakdowns at the local power plants.
Irkutsk is the region which maintains the lowest electricity rates for households in Russia – 1.23 rubles (less than $0.02) per kilowatt-hour (kWh) in the cities and 0.86 rubles (a little over $0.01) in rural areas. The governor revealed that this year power consumption is projected to grow by almost 160% over last year’s figure.
While the total electricity used in Irkutsk averaged 5.9 billion kWh in the past four years, just in the first half of 2021 it reached 4.7 billion kWh. In a social media post, Kobzev announced his proposal to recognize digital currency mining as an entrepreneurial activity and introduce special rates for electricity consumers involved in coin minting operations.

Meanwhile in neighboring Belarus, with which Russia maintains strong political and economic ties, the Ministry of Energy has already classified cryptocurrency miners in a separate tariff category. The decision is part of a joint decree with the Ministry of Antimonopoly Regulation and Trade issued at the end of September.
According to the document quoted Forklog, entities involved in data processing, information services and related activities, including the operators of mining facilities and data centers, will fall into this category if their annual electricity consumption is at least 25 million kWh. The tariff category has four subgroups depending on the consumption bracket with the top one covering enterprises consuming power exceeding 500 million kWh. Additional groups can be added by President Alexander Lukashenko&#x2019;s administration. The current document does not mention the exact price rates for each group.
Belarus legalized mining and other crypto-related activities with a presidential decree that came into force in March 2018. Earlier this year, the Belarusian leader called for clarifying certain regulatory provisions and establishing stricter control over the crypto space. Lukashenko has had a positive attitude towards crypto mining, urging Belarusians in August to mint digital coins instead of picking strawberries on foreign farms. In 2019, he suggested to power mining facilities using surplus electrical energy from the country’s new nuclear power plant.
In Belarus’s energy-rich ally, the Russian Federation, the idea to recognize cryptocurrency mining as a type of entrepreneurial activity has been gaining support among government officials. In September, the chairman of the Financial Market Committee at the State Duma Anatoly Aksakov expressed his position that that the mining of digital currencies should be registered as such and taxed accordingly.
Do you think Russia and Belarus will significantly increase electricity rates for cryptocurrency miners? Share your expectations in the comments section below. 



























Authorities in Belarus and the Russian Federation are taking steps to separate cryptocurrency miners from other groups of power users and deny them access to subsidized energy. This could lead to the adoption of differentiated electricity rates for businesses involved in digital coin minting acti...

Universe Coin price	$0.001192
Low - High 24H	$0.00112 - $0.001198
Market cap	N/A
Volume 24H	$192.00
All time high	$0.338255 -99.65% March 26th 2020
All time low	$0.000017 6715.72% November 23rd 2020
Genesis date	N/A

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