Core Scientific, a Bitcoin mining company based in Texas, recently announced the pricing of its increased offering of $400 million in 3.00% convertible senior notes due in 2029. Originally set at $350 million, the offering was upsized due to favorable market conditions. The notes are scheduled to settle on August 19, 2024, and will be
Crypto
In a historic move, Crypto.com, a cryptocurrency exchange based in Singapore, has signed a groundbreaking partnership with the Union of European Football Associations (UEFA) Champions League. This partnership marks the first time that a crypto platform has become the official global sponsor of such a prestigious football competition. The agreement is set to span several
In the midst of the current downturn in the market, the sentiment among investors in the digital asset market is one of uncertainty. Despite this, Glassnode’s analysis reveals a noticeable trend towards HODLing and accumulation among investors, indicating a shift in behavior amidst volatile market conditions. Following bitcoin’s all-time high in March, there was a
Bitcoin’s price has been on a rollercoaster ride recently, with a significant increase of almost $2,000 in just one day due to better-than-expected core PPI numbers in the United States. This spike in price prompted a positive end to the previous business week, with Bitcoin reaching almost $63,000 on Friday. This impressive recovery of over
Ethereum’s Layer 2 ecosystem has been experiencing a surge in activity, with a new record set for daily transaction volume. According to recent data, the daily transactions across Layer 2 networks reached an impressive 12.42 million on August 12, showcasing significant growth and adoption in the ecosystem. This milestone not only reflects the scalability improvements
Coinbase recently submitted a critical comment letter to the US Securities and Exchange Commission (SEC) regarding the proposed rule on digital assets. The letter pointed out significant flaws in the SEC’s cost-benefit analysis, particularly in the assessment of economic impact on efficiency, competition, and capital formation. Coinbase argued that the agency has overlooked key information
The liquidators of Three Arrows Capital (3AC) have taken legal action against TerraForm Labs, claiming that the bankrupt digital assets company manipulated the market for Luna and TerraUSD. According to the liquidators, this manipulation resulted in artificially inflated prices for these tokens, ultimately leading to heavy losses for 3AC. In January 2022, 3AC invested $190
The current state of the market has not been kind to new Bitcoin investors, as indicated by various metrics highlighting a bearish environment. One such metric, the Short-Term Holder MVRV (Market Value to Realized Value) ratio, focuses on the fair market value of BTC compared to its realized price for the newest cohort of investors.
The US spot Ethereum ETFs saw a substantial total inflow of $4.9 million on Monday, showcasing a positive trend in the market. One notable highlight was the Grayscale Ethereum Trust (ETHE) which saw no withdrawals for the first time since its conversion to an ETF. This comes after experiencing 14 days of outflows, indicating a
Sui (SUI) has experienced a remarkable 70% increase in price over the course of the last week, reaching around $1, according to data from CoinGecko. This surge in price can be attributed to the launch of Grayscale’s Sui Trust, as well as the introduction of the Bittensor Trust. The entry of these institutional investment products
Ethereum has shown remarkable resilience in the face of the recent market downturn, attracting a significant amount of investor interest. Data reveals that Ethereum has seen $155 million in inflows over the past week, with total year-to-date inflows reaching $862 million, the highest since 2021. This surge in investment can be attributed to the introduction
Recently, Binance announced the delisting of six altcoins from its platform, leading to significant price drops for these assets. This move by the world’s largest cryptocurrency exchange has triggered sharp price crashes in the past due to various reasons such as reduced liquidity and market panic. Binance periodically reviews each digital asset listed on its
An analyst at CryptoQuant has recently pointed out that Ether (ETH) might be on the verge of a rally, based on data from the cryptocurrency’s futures market. The analyst, Shayan, highlighted a significant liquidation event in the ETH market, which historically has been followed by price rallies as spot buying pressure takes over. In recent
XRP, the cryptocurrency associated with Ripple, experienced a significant price surge last week after a court ruling in the Ripple v SEC case. The price of XRP skyrocketed by 20% in a single day, reaching nearly $0.64, with its market capitalization exceeding $35 billion. This surge came shortly after a court ruling that required Ripple