A remarkable event unfolded on July 24 when a Bitcoin mining device, known as “Bitaxe,” with a hashrate of only 500 gigahashes per second (Gh/s) successfully mined a block, reaping a whopping reward of $206,000 in Bitcoin. This accomplishment is truly extraordinary considering that the device has a mere 1 in 1.1 billion chance of
Crypto
The second day of trading for the spot Ethereum ETFs saw a significant shift in investor sentiment, with over $133 million being withdrawn from the largest financial vehicles. This sudden outflow had a direct impact on the price of the underlying asset, causing a massive 10% drop in just one day. The initial excitement surrounding
The developers at BitcoinOS (BOS) recently achieved a groundbreaking milestone in blockchain history by successfully verifying the first-ever zero-knowledge proof (ZKP) on the Bitcoin mainchain. This achievement paves the way for a new era of possibilities, offering unlimited scalability and functionality for Bitcoin without the need for changes to its underlying consensus code. The final
Recently, Senator Cynthia Lummis released a report that raised concerns regarding the Biden administration’s proposed 30% excise tax on the energy consumed by Bitcoin miners. She argued that this tax could have severe consequences for the growing Bitcoin mining industry in the United States. Lummis criticized the administration’s reasoning behind the tax, describing it as
In the beginning of July, Mt. Gox, the now-defunct cryptocurrency exchange, began the process of repaying creditors who were affected by the infamous 2014 hacking incident. This move was long-awaited by those who had lost their funds in the hack, and it sparked a mix of curiosity and concern among the crypto community. Market Stability
Ethereum’s price has been consolidating above the 100 and 200-day moving averages, indicating a bullish trend. The breakout above the critical 100-day moving average at $3,354 led to a period of sideways fluctuation, with the price lacking clear direction. This phase confirms the breakout and suggests an equilibrium between buyers and sellers in the market.
Shiba Inu (SHIB) has recently experienced a significant drop of 13% in the past week, leading many analysts to speculate on its future performance. The popular meme coin has been struggling, with its price plummeting according to CoinGecko’s data. Some industry experts have warned that this downward trend could continue in the short term, posing
The launch of Spot Ethereum ETFs in the United States marked a significant milestone in the world of cryptocurrency trading. However, the initial results were less than impressive for Grayscale, the world’s largest crypto asset manager. The newly converted Ethereum Trust (ETHE) experienced a massive outflow of $484 million on the first day of trading.
The Coinbase premium turned positive in early July after a period of concern following a dip in mid-May. According to research from Kaiko, this could hint at a resurgence of institutional interest in Bitcoin. The Coinbase premium, a key indicator of institutional sentiment in the cryptocurrency market, measures the difference between hourly bitcoin prices on
As the approval for several spot Ethereum ETFs has been granted, the crypto market is eagerly awaiting their launch on Tuesday. While there have been adjustments to registration statements, the price of Ether has remained relatively stable. According to Kaiko, a leading crypto data provider, there is anticipation that the inflows from these spot ETFs
In the world of cryptocurrency, the largest spot Bitcoin ETFs in the US have seen positive inflows recently. However, despite this, the price of the underlying asset experienced a significant retracement yesterday. The price of Bitcoin dropped to $63,000 after failing to maintain above $65,000, but quickly bounced back and reached $67,500. Over the weekend,
Asia’s financial market is taking a significant step forward with the launch of the CSOP Bitcoin Futures Daily (-1x) Inverse Product in Hong Kong. This new exchange-traded fund by China Southern Asset Management Co., Ltd (CSOP) is designed to provide investors with a unique opportunity to profit from declines in Bitcoin’s price. The CSOP Bitcoin
The investment in digital asset products has been on the rise, with inflows reaching $1.35 billion last week. Over the past three weeks, the total inflows have amounted to $3.2 billion. This surge in investment signals a growing interest in digital assets as an alternative investment class. According to the latest CoinShares report, Bitcoin experienced
Ripple’s XRP has recently experienced a surge in price, increasing by 40% in just two weeks. This sudden surge has brought the price of XRP above $0.60, sparking optimism among analysts and investors alike. The market has been abuzz with predictions of further gains, with some even speculating that XRP could reach as high as