Ark (ARK-USD) Cryptocurrency is currently on bearish momentum by 31.54% in the last 7 days. At 00:57 EST on Sunday, 16 May, Ark (ARK-USD) is at $1.68.
Ark (ARK-USD) Range
Regarding Ark’s daily highs and lows, it’s 3.07% up from its trailing 7 days low of $1.63 and 30.58% down from its trailing 7 days high of $2.42.
Currently, Ark (ARK-USD) has 72440 Twitter followers and 23090 Reddit subscribers.
As of now, on Github, there are 302 forks, 294 stars, and 37 subscribers.
Crypto Price Classification
According to the stochastic oscillator, a useful indicator of overbought and oversold conditions, Ark’s crypto is considered to be overbought (>=80).
Other News About Ark (ARK-USD)
Musk splits from cathie wood’s ark on Bitcoin environmental cost. According to Bloomberg Quint on Thursday, 13 May, "Last month, researchers at Ark made waves with a report saying cryptocurrency mining can help bolster investment in solar power and make more renewable energy available to the grid. ", "The billionaire’s about-face came just three weeks after he appeared to endorse research from Cathie Wood’s Ark Investment Management LLC asserting that Bitcoin mining could end up being good for the planet by incentivizing renewable power."
Elon Musk's abrupt reversal on Bitcoin conflicts with research from cathie wood's ark invest that argues mining is actually environmentally beneficial. According to Business Insider on Thursday, 13 May, "But as Bloomberg reported, Ark has a profit motive in promoting the positive environmental impacts of bitcoin. ", "Mining cryptocurrencies, bitcoin included, can increase the overall share of renewable energy provision to the grid, according to an April post from Ark research director Brett Winton and co-authors Yassine Elmandjra and Sam Korus, as first reported by Bloomberg."
News about Bitcoin
Jack dorsey says Bitcoin changes everything ‘for the better’. According to Bloomberg Quint on Friday, 14 May, "Square Inc. Chief Executive Officer Jack Dorsey said Friday that the payment processing company would "forever work" to make Bitcoin better.", "Financial News had earlier cited Ahuja as saying that Square has has halted its Bitcoin purchases after a $20 million loss in the coin last quarter."
Bitcoin recoups some losses after musk-triggered tumble. According to FX Empire on Thursday, 13 May, "We are concerned about rapidly increasing use of fossil fuels for Bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel," Musk wrote."
Crypto fund pantera says Bitcoin energy concern to impact market. According to Bloomberg Quint on Thursday, 13 May, "There’s a point to think about how renewable the resources are that are used to process transactions on the Bitcoin brand blockchain, but it’s important to remember Bitcoin is only one of the many blockchains," he said.", "On Thursday, he reiterated his belief that Bitcoin could still double in the next five to six months, reaching $115,000 by August. "
Musk’s Bitcoin concerns sink crypto-linked stocks. According to Bloomberg Quint on Thursday, 13 May, "Musk said in his post that Tesla wouldn’t be selling any Bitcoin and aimed to use it for transactions once mining shifted to a more sustainable energy. ", "Bitcoin plunged as much as 15%, sinking to as low as $46,045 after Musk said he was worried over the "rapidly increasing use of fossil fuels for Bitcoin mining and transactions," and suspended Tesla purchases with the asset, indicating he might favor other cryptocurrencies with much lower energy usage."
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