Bitcoin mining companies in Texas turned off their machines in anticipation of extreme weather conditions. In some parts of the state, temperatures are expected to surpass 40 degrees (Celsius) which, combined with the electricity consumption of the aforementioned firms, could lead to outages of the energy network. Brace for the Heat Wave In an interview...Read More
The bloodbath will probably worsen, at least, until the end of the year as inflation will remain above 5%, and regulatory crackdowns against the industry deepen, according to the annual report published by crypto research firm Messari. Examining the industry through a long-term perspective, however, the firm said institutional investments have grown steadily YoY despite...Read More
A recent study conducted by MLIV Pulse revealed that 60% of the surveyed Wall Street investors believe bitcoin dropping to $10,000 is a more possible scenario than the asset rising to $30,000. The poll further estimated that professional investors are more supportive of the cryptocurrency industry than retail investors. Pessimism Reigns Among Wall Street Investors...Read More
A study conducted by the United Nations (UN) determined that 8.5% of Kenya’s population own digital assets, which makes up around 4.25 million people. This makes the country a leader in cryptocurrency adoption across Africa, while globally, Ukraine ranks first, with 12.7% of its residents being HODLers. Kenyans’ Surging Appetite for Crypto Kenya – an...Read More
Tether, the company behind USDT, the largest stablecoin by market capitalization, revealed that it liquidated Celsius’s position without risk to its reserves. In a press release on Friday (July 8, 2022), Tether stated that beleaguered lending platform Celsius took an overcollateralized loan from the company, denominated in bitcoin (BTC). The stablecoin issuer said it has...Read More
British multinational jeweler Graff Diamonds Corp. has filed a lawsuit against its insurer, The Travelers Companies, Inc. (Travelers), for failing to provide indemnity after it paid $7.5 million in Bitcoin to ransomware hackers. Graff Sues Insurer Over $7.5M BTC Ransom Loss According to a Bloomberg report on Wednesday, Graff’s security systems were exploited by the...Read More
Marathon Digital Holdings – a leading bitcoin mining company – mined 707 BTC during Q2, 2022, which is an 8% Year-Over-Year increase. More importantly, though, the firm did not sell any of its crypto stash and currently owns 10,055 BTC. Despite the Bear Market, Marathon Kept Pushing The latest cryptocurrency mining company to announce its...Read More
After weeks of treading in the red, the market briefly climbed to the $1 trillion mark. The world’s largest cryptocurrency – Bitcoin – as well as some major altcoins, raked in notable gains. Additionally, Coinbase’s Bitcoin price premium also seems to be recovering after surging near 0.075. Possible Whale Accumulation According to the data from...Read More
After paying back an additional $41.2 million in Dai to decentralized lending platform Maker, Celsius Network now can reclaim approximately $450 million worth of BTC locked up as collateral on the protocol. Celsius has been actively paying back its loans to Maker in the past few days in a bid to drastically lower the liquidation...Read More
One of the leading cryptocurrency mining firms – Riot Blockchain – mined 421 BTC in June this year, a considerable increase compared to the 243 BTC produced in June 2021. The company has also started moving its miners from New York to Texas to reduce some of its costs during the peak energy months in...Read More
The UK-based cryptocurrency mining firm – Argo Blockchain – mined 179 BTC last month. However, due to the current market conditions and its loan agreement with Galaxy Digital, the company had to sell 637 BTC at an average price of around $24,500. More Sellings Than Production In September 2021, Argo Blockchain secured a $25 million...Read More
Two retirement systems in Fairfax County, Virginia, distributed $35 million into VanEck’s cryptocurrency lending fund. The administrative region has experience in the digital asset industry since years ago its Police Department pension fund invested in blockchain technology and later displayed intentions to add crypto investment managers. VanEck’s Lending Fund Attracted New Investors As presented on...Read More
Celsius Network has repaid yet another $34.43 million of its debt to MakerDAO as the former blue-chip company tries to avert a total collapse. This marks the second such repayment in less than 24 hours. Vault 25977, reportedly owned by Celsius, showed a series of payments starting June 14. Its liquidation has dropped to $2,722. Earlier...Read More
Exposure to shorting Bitcoin’s price saw record inflows of $51 million last week as the asset crumbled below $20,000, a new report showed. Shorting Dominates in the US According to the latest CoinShares’ weekly ‘Digital Asset Fund Flows’ report, a total of $64 million in inflows in the digital asset investment products was observed between...Read More
For the first time in almost a year, revenues for Bitcoin (BTC) miners surpassed those of Ethereum (ETH) in June. But even then, both digital assets have shown dwindling profit margins owing to the prevailing crypto winter. According to a July 5 report by Binance, last month, Bitcoin miners generated $656.47 million. Meanwhile, Ethereum miners...Read More
Multichain, previously known as Anyswap, has announced integration with RSK blockchain, a Bitcoin merge-mined smart contracts platform. According to the press release shared with CryptoPotato, the integration aims to facilitate the transfer of ETH, USDC, BUSD, and other assets between RSK, Ethereum, and BNB Chain. The broader focus of the decentralized cross-chain router protocol will...Read More
The global investment manager VanEck seems quite determined to introduce a spot Bitcoin exchange-traded fund (ETF) in the United States. Despite its previous rejections, the company filed a new application with the SEC. VanEck Tries Again It has been evident that one of VanEck’s main goals is to list an ETF that tracks the performance...Read More
The government of El Salvador purchased 80 BTC amid the cryptocurrency market crash. The country spent over $1.5 million to acquire the assets. El Salvador made the headlines last year, becoming the first nation to make bitcoin legal tender inside its borders. Apart from its entrance into the ecosystem, the Central American country has also...Read More
Lightning Labs has announced the release of the beta version of the Lightning Network Daemon (lnd). The firm has revealed incorporating several improvements in the new – v0.15-beta. The main idea is to offer developers and users access to the “latest and greatest” Bitcoin protocol upgrades that include Taproot and Musig2. Taproot and Experimental Musig2...Read More
The past months have been long and bumpy for Bitcoin, which took yet another plunge below the psychological level of $20k. But that isn’t stopping the retail investors from buying the dip. Investors, both big and small, have lost significant money on their Bitcoin bets. But latest data from IntoTheBlock suggest that retail is stacking...Read More
Analysts at Deutsche Bank – Marion Laboure and Galina Pozdnyakova – argued that the cryptocurrency market is “highly fragmented,” and its decline could continue in the near future. However, they believe bitcoin might tap $28,000 by the year’s end, assuming it keeps its close correlation to US stocks. BTC at $28K by Christmas The past...Read More
With bitcoin continuing to experience adverse price movements and dumping below $20,000 for the second time in June, the asset is on the brink of registering its worst-performing quarter in about a decade. Bitcoin’s 60% Q2 Drop Data from Coinglass shows that the primary cryptocurrency is down by almost 60% in Q2, which will end...Read More
On Thursday, investment company Jacobi Asset Management announced it would launch a Bitcoin Exchange-Traded Fund (ETF) on the Euronext Amsterdam Exchange in July. Jacobi to Launch Europe’s First Bitcoin ETF The firm’s official announcement noted that the new fund is called the Jacobi Bitcoin ETF and will trade under the ticker BCOIN. The product will...Read More
On June 29, the U.S. securities regulator rejected the proposal by Grayscale to list a spot Bitcoin exchange-traded fund (ETF) on the NYSE Arca exchange. According to the SEC, the proposal did not meet standards designed to prevent fraudulent and manipulative market practices. It stated that the rejection was not based on an “assessment of...Read More
Mark Newton – technical strategist at the investment insights firm Fundstrat – is not convinced that Bitcoin has reached its bottom. He claims there is a significant chance of a “final washout” style event that could take the top cryptocurrency as low as $12,500. One Last Crash? As Newton explained in a note to Bloomberg...Read More
With bitcoin losing nearly half its value at one point a week ago and marking an 18-month low, the asset’s situation seemed gloomy at best. However, there are some positive signs as investors have been continuously withdrawing their BTC holdings from exchanges. BTC on Exchanges Sees 3-Year Lows A lot has been said about what...Read More
The Swiss luxury watchmaker – Hublot – allowed its customers to buy certain limited products in cryptocurrencies by partnering with the bitcoin payment service provider – BitPay. In addition, Prague City Tourism joined forces with Global Payments to enable passengers of the emblematic Tram Line number 42 to purchase tickets in digital assets. Hublot Enters...Read More
Coinbase Derivatives Exchange, previously FairX, is all set to launch its first listed crypto derivatives product – Nano Bitcoin futures (BIT). BIT Futures on Coinbase Derivatives Exchange According to the official announcement, BIT will be available to retail investors to trade from June 27 on the CFTC-regulated futures exchange. Boris Ilyevsky, Head of Coinbase Derivatives...Read More
Ethereum competitor Avalanche announced new support for native Bitcoin (BTC) through its bridge solution built on its crypto wallet Core. Following the news, its native token AVX spiked higher, outperforming major digital assets like Bitcoin and Ethereum in the past 24 hours. Wrapped BTC on Avalanche Ava Lab – the foundation behind the smart contracts...Read More
Binance US – the US-based division of the world’s largest crypto exchange – announced a new pricing model that offers zero fees for four bitcoin trading pairs, including BTC/USD, BTC/USDT, BTC/USDC, and BTC/BUSD. The crypto giant becomes the first American exchange that makes such a service available to its users. The elimination of such trading...Read More
