The continuous rise of institutional interest towards the cryptocurrency industry is exemplified by Grayscale Investments’ record Q2 2020 earnings report. The large digital asset management company announced today that it had received total investments in Q2 of over $900 million – $400 million more than its previous record. Grayscale’s Best Quarter To date The company,...Read More
There has been very little action on crypto markets over the past 24 hours. The majority of high cap coins are cooling off again following minor movements over the weekend. Bitcoin is no exception, remaining range-bound as the tedium continues. BTC managed to top $9,300 again a few hours ago but has since declined back...Read More
The average time required to confirm a Bitcoin transaction has plunged significantly in the past month. Simultaneously, the average transaction fees continue to drop after reaching yearly-high following the 2020 halving. BTC Average Transaction Time Plunges Data provided by Blockchain.com shows that the average time needed for a BTC transaction to be included in a...Read More
Recent data indicates that the number of Bitcoin whales (containing more than 1,000 BTC) has grown by nearly 9% in the past year. Interestingly, even after the completion of the third halving, whales continue to accumulate, which contradicts with their past performance. BTC Whales On A Shopping Spree Data provided by the monitoring company Glassnode...Read More
Recent data indicates that Bitcoin transaction fees have been decreasing after the post-halving peak, while Ethereum fees are on the rise. As such, the total amount in fees spent on the Ethereum network has surpassed Bitcoin’s, and the gap continues to grow. The “Feepening” Ethereum Vs. Bitcoin According to information from the cryptocurrency data company...Read More
The gap between Bitcoin’s hashrate and its mining difficulty has led to a miners capitulation – which could result in a major Bitcoin price dump. As pointed out by trader and popular YouTuber TheMoon, large discrepancies between hashrate and mining difficulty have typically resulted in a sudden departure of Bitcoin miners in the past. This,...Read More
The Bitcoin third halving that occurred last week was a remarkable event for the Bitcoin community. However, while experts predicted that the event could be a price booster for the cryptocurrency in the long, miners are not very happy considering the effect of the halving on their revenue. Bad Business For Miners? One of the...Read More
Bitcoin’s halving finally took place at block 630,000 on May 11th, 2020. Like many cryptocurrency enthusiasts and market participants pointed out, the block countdown felt much as if it’s New Year’s Eve. However, it’s already behind our backs, and the price has managed to add another $1,000 to it since then. In the four short...Read More
Bitcoin’s hash rate has decreased by 32% in the past few days as the revenue generated by miners is also substantially less following the halving. This is one of the biggest corrections in history, and it might pose certain security challenges for the network. Bitcoin Hash Rate Drops 32% Bitcoin’s hash rate decreased dramatically in...Read More
With the third-ever Bitcoin halving in the history books, the price of the asset is reacting by a notable 13% surge. As a result, the number of profitable days of holding the primary cryptocurrency has increased to over 93%, according to a data monitoring website. Almost All BTC Positions Are In Profit Bitcoin’s halving historically...Read More
In mid-April, news.Bitcoin.com reported on a great number of BTC withdrawn from cryptocurrency trading platforms and after the third BTC halving, the trend has picked up once again. Data from Glassnode’s Bitcoin Exchange Net-Flow statistics show that close to 24,000 BTC has been withdrawn since May 11. Additionally, statistics from Bituniverse’s exchange reserve data indicate...Read More
Bitcoin’s halving is behind us, and its price is nothing but soaring. Moreover, BTC is surging while legacy markets continue their downturn, strengthening the narrative that the cryptocurrency keeps on decoupling. Bitcoin Price Soars 9% in Less Than Three Days Bitcoin’s halving took place a little more than 48 hours ago. At the time, BTC...Read More
On May 11, 2020, the Bitcoin network completed it’s third block reward halving and the network seems to be chugging along just fine. However, it may take a while longer to see the halving’s effect on the mining industry and right now bitcoin transaction fees have risen exponentially. Despite the rising fees, the research firm...Read More
The most anticipated event in the cryptocurrency community has finally occurred as the Bitcoin network just produced block number 630,000. The Bitcoin halving will reduce the daily supply, the inflation rate, and the block rewards for miners. It has also raised serious discussions around the price of BTC. 2020 Halving Completed After months of increased...Read More
The median confirmation time for transactions with miner fees to be included in a mined block and added to Bitcoin’s ledger has decreased substantially on the day that the halving is estimated to take place. If the rate continues as it is, the event will take place a few hours sooner than expected. 10 Blocks...Read More
New data comparing Bitcoin’s fundamentals now and around the second halving in 2016 demonstrates the immense growth of the network. Double, triple, and even quadruple-digit increases are evident in almost all areas, including the number of BTC addresses, the hashrate, and the daily transaction volume. 2016 Vs. 2020 Bitcoin Addresses While most members of the...Read More
Bitcoin’s halving is estimated to take place in less than a day, and transaction fees are surging. This is indicative of users willing to pay a premium for their transactions to be prioritized and also of the increased number of unconfirmed transactions. Bitcoin Transaction Fees Above $3 Transaction fees on Bitcoin’s network have been increasing...Read More
With only two days left to the third halving, severe levels of volatility reached the cryptocurrency market, and Bitcoin plunged by 20% in a matter of hours. Similar price developments transpired back in July 2016 when, again, two days before the second halving, BTC dropped by 11%. History On Track In 2016 and 2020 As...Read More
Bitcoin crashed 10% in 30 minutes, and almost 20% over the past hours, plunging below $8000 on some exchanges. Just two days before the anticipated Bitcoin halving event and no more than 48 hours after touching the $10K mark, a classic “sell the news” dump had initiated. As of writing these lines, the price of...Read More
The Chinese ASIC mining rig manufacturer Bitmain reportedly pulled in $300 million in revenue during Q1 2020. Meanwhile, as Bitmain claims to be regaining market share, the firm Ebang recently applied with the U.S. Securities and Exchange Commission (SEC) for initial public offering (IPO) status. However, the prospectus sent to SEC shows that while Ebang...Read More
The majority of Bitcoin holdings are currently in a profitable position following the recent rally of the largest cryptocurrency by market capitalization, data from on-chain data provider Glassnode shows. The UTXO Realized Price Distribution (URPD) metric from the data firm puts the proportion of the moneymaking Bitcoin at 81%. What Is UTXO Realized Price Distribution...Read More
On May 7, 2020, the price of a single bitcoin crossed $10,000 per unit in USD value as the network only has four days until the halving, otherwise known as the “quantitative hardening” by some investors. The cryptocurrency’s per annum inflation rate will drop from 3.6% to 1.8% on or around May 12, 2020, as...Read More
A record-breaking number of 210 Bitcoin options contracts were traded yesterday on the Chicago Mercantile Exchange, which set up a new all-time high of nearly $10m. Of the total amount, 202 contracts were May calls (bullish), while 8 were May puts (bearish). CME Bitcoin Options Volume On The Rise CME launched options on Bitcoin in...Read More
Quick take: Bitcoin (BTC) has once again reclaimed $9,000 with 5 days until halving. Pantera Capital’s CEO, Dan Morehead, sees a scenario where BTC hits $115,212 by August 2021. His analysis is based on the change in the stock-to-flow ratio across each halving. The hype and excitement surrounding the Bitcoin halving event is once again...Read More
Pantera Capital chief executive officer Dan Morehead has predicted a 50% chance the price of bitcoin (BTC) will hit $115,000 by August next year. In a recent letter to investors, Morehead said: “If the new supply of bitcoin is cut in half (with the May 12 halving), all else being equal, the price should rise.”...Read More
Polls surveying over 15,000 people suggest that the majority believe Bitcoin’s price is likely to dump as the halving happens and skyrocket later on. This coincides with the behavior of the cryptocurrency following the previous halvings. Mooning Postponed, Bitcoin Will Dump At Halving A few well-known members of the cryptocurrency community recently initiated polls to...Read More
Days before the third-ever Bitcoin halving, the interest towards the primary cryptocurrency has surged, according to Google trends. The phrase “buy Bitcoin” is getting very close to the previous two-year high levels of June 2019’s bull-run and the March 12 dump of this year. Buy Bitcoin Search Volume Increases Significant attention is heading Bitcoin’s way,...Read More
Bitcoin intelligence, data, and analytics firm Glassnode found the Bitcoin hash rate hit a new all-time high over the weekend, ten days before the Bitcoin halving event. In other words, miners are putting more computational power into maintaining the Bitcoin network. Because miners must venture electricity and capital intensive computer processors to mine Bitcoin, the...Read More
The recent Bitcoin price increases, and the upcoming halving have brought back media attention. CNBC recently explained the upcoming halving and made a bold prediction claiming that BTC could surge soon. CNBC Believes Bitcoin Will Surge Bitcoin made an appearance on CNBC’s Fast Money on Friday following the recent price surge. Crypto-friendly expert, Brian Kelly,...Read More
Ethereum investors have been accumulating and holding substantial amounts lately. More than 77% of ETH in externally owned accounts (EOAs) has not moved in the past six months, new data revealed. Ethereum Investors Hodl And Accumulate The price of Ethereum, similarly to most cryptocurrencies, went through violent turbulence lately. Starting 2020 at about $131, reaching...Read More
