Crypto News Roundup: Bitcoin Energy Consumption, XRP Lawsuit, Aave Loans, and the Market Today

How the crypto world is evolving and changing, and what it means for enthusiasts and investors.

Hello and welcome to another edition of Crypto News Roundup, let me bring you the latest and most relevant news and developments in the crypto space. In today’s post, I will cover four topics that have been making headlines recently: Bitcoin’s energy consumption, XRP’s lawsuit, Aave’s loans, and the market’s performance. Let’s get started!

Bitcoin’s Energy Consumption Revised Down by Cambridge

One of the most controversial aspects of Bitcoin is its high energy consumption, which has been criticized by environmentalists and regulators alike. However, a new study by the University of Cambridge has revised down its estimates of Bitcoin’s electricity usage by 14% for 2021 and 9% for 2022.

The Cambridge Bitcoin Electricity Consumption Index, published by the Cambridge Centre for Alternative Finance (CCAF) at the University of Cambridge’s Judge Business School, tracks global Bitcoin energy consumption, and the revised calculation methodology is designed to accommodate the arithmetic power of newer miners such as Antminer S19 XP.