Day: April 11, 2022

Marathon’s Thiel Says Company Not for Sale as M&A Chatter Picks Up Among Crypto Miners

The potential cash crunch means opportunity for those with capital, said Bitfarms’ Morphy. “A lot of companies that were looking for SPACs and IPOs to fund their growth have not taken place. As a result, there’s going to be some pretty neat opportunities, we think, this year, next year and beyond,” he said, adding that he sees his company as an acquirer, not a target.. Original Source AmongChatterCompanyCryptoMarathonsMinersPicksSaleThiel CryptoX Portal

ETH devs implement first-ever ‘shadow fork’ as PoS testing continues

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Ethereum developers implemented the network’s first-ever “shadow fork” on Monday, marking an important milestone in the ongoing shift to a proof-of-stake (PoS) consensus.  The shadow fork provides a venue for developers to stress test their assumptions around the network’s complex shift to PoS, according to Ethereum Foundation developer Parithosh Jayanthi. “The aim of the Kiln merge testnet was to allow the community to practice running their nodes, deploying contracts, testing infrastructure, etc.,” he tweeted on Sunday. Wondering what the #TestingTheMerge team has been up to? The aim of the Kiln…

Bitcoin Sell-Off Deepens as Correlation with Stocks Rise

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In a Monday newsletter, FundStrat, a global advisory firm, wrote that macro uncertainty could outweigh LFG’s reserve purchases. “Following previous LFG purchases, we witnessed a rise in realized market cap as other [traders] followed LFG’s lead,” the firm wrote. “However, realized market cap has remained flat since this latest purchase, indicating marginally less appetite for buying this weekend’s dip.” Original

Crypto Raiders explains how blockchain gaming attracts new users to Web3

At the height of the nonfungible token (NFT) rally in 2021, Sky Mavis, the creator of Axie Infinity, rolled in like the Trojan horse and coined the term play-to-earn (P2E) for blockchain games. Axie Infinity grew in popularity after amassing a $3 billion valuation and it steadily onboarded millions into Web3. According to Axie Infinity co-founder Aleksander Larsen, roughly 50% of Axie Infinity’s daily active users (DAUs) had never had a cryptocurrency wallet until they began playing. As a result, the Web3 ecosystem perked up at the prospect of utilizing games…

Stablecoin Economy Is $10 Billion Away From Reaching a $200 Billion Market Cap – Altcoins Bitcoin News

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The stablecoin economy has grown during the last month as the market capitalization is now only $10 billion away from reaching the $200 billion mark. While the largest stablecoin, by market valuation, tether (USDT) swelled by 3% during the last 30 days to $82 billion, terrausd (UST) has increased by 15.4% to $16.7 billion. Stablecoin Economy Swells by 1.65% in 30 Days Nearing the $200 Billion Milestone According to statistics on Monday, April 11, 2022, the stablecoin economy is worth $190.1 billion. During the last 24 hours, stablecoins have captured…

Survey of financial advisers and Grayscale comments suggest strong support for spot crypto ETF

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While the United States Securities and Exchange Commission has yet to approve a spot Bitcoin exchange-traded fund, a recent Nasdaq survey suggested that the offering could lead to greater adoption of crypto among financial advisers. According to the results of a Nasdaq survey released on Monday, 72% of 500 financial advisers would be more likely to invest their clients’ assets in cryptocurrency should the SEC approve a spot crypto ETF product in the United States. For those already invested in crypto products, 86% of the financial advisers said they planned…

Bitcoin price drops to $39K, but data shows leverage traders dreaming of $50K

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On April 11, Bitcoin (BTC) dropped to $40,500, reaching a crucial level that erased the gains from the previous three weeks when the price peaked at $48,200 on March 28. According to analysts, the United States Federal Reserve balance sheet reductions are adding pressure to stocks and risk assets, with Bitcoin standing to lose appeal. Decentrader co-founder filbfilb agreed with these powerful headwinds by arguing that the Fed’s action could influence the BTC price trend “for months to come.” Bitcoin reacted unfavorably to a resurgent dollar, with the U.S. dollar…