Day: July 6, 2022

Bitcoin ‘Tourists’ Shaken Out of Market As Coins Fly Out of Exchanges Hands: Glassnode

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The recent crypto market woes are shaking Bitcoin (BTC) tourists out of the space, according to the analytics firm Glassnode. Glassnode notes in a new analysis that network activity has plunged to levels seen at the deepest bear market phase in 2018 and 2019, resulting in a “near-complete expulsion” of market tourists. However, it’s not all bearish, according to the analytics firm. “Demand for block space is low, and the growth of network users is lackluster at best. However, below the surface, the market is experiencing a number of very…

Bitcoin sube por encima de $20K mientras ETF inverso registra ingresos récord de $51M

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Bitcoin mining stocks rebound sharply despite a 70% drop in BTC miners’ revenue

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Bitcoin (BTC) mining companies have suffered in 2022 due to the crypto bear market. Nonetheless, their stocks collectively saw a sharp rebound on July 6, raising hopes that investors have started to buy the dips. One of the intraday winners was Bitfarms (TSE: BITF), which surged by over 24% to close at $1.29. Similarly, Marathon Digital Asset Holdings (NASDAQ: MARA), Core Scientific (NASDAQ: CORZ), and Cathedra Bitcoin (CVE: CBIT) rose by over/around 12.5%, 16.22%, and 15%, respectively. MARA, CORZ, BITF, and CBIT daily price chart. Source: TradingView Bitcoin miners’ revenue down…

Hardware crypto wallet sales increase as centralized exchanges scramble

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Blockchain analysis firm Glassnode recently characterized the 2022 bear market as the worst on record. This seems to be the case due to events such as the war in Ukraine and rising inflation, coupled with serious problems among centralized crypto exchanges.  Yet, the bear market hasn’t negatively impacted all players in the crypto ecosystem. Hardware wallet providers seem to be benefiting from the massive amount of crypto withdrawals from centralized exchanges. Pascal Gauthier, CEO of hardware wallet crypto firm Ledger, told Cointelegraph that the company’s revenue dropped about 90% during…

NFT platform wars could be ahead, says new DappRadar report

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OpenSea, UniSwap, MagicEden, eBay and others are acquiring NFT aggregation tools and taking a stand to gain market share of the evolving NFT ecosystem. DappRader’s “Dapp Industry Report for Q2” 2022 raised, among many points, the idea that an upcoming non-fungible token (NFT) platform war could be on the horizon. The report, which was provided to Cointelegraph, spoke of how UniSwap had recently acquired Genie and OpenSea purchased Gem in an effort to expand their respective services to include NFT aggregation tools, which “accumulate NFT offers from various trading platforms.”…

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The inside story – Cointelegraph Magazine

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As crypto winter sets in once more, industry players in Australia, one of the world’s most crypto-friendly nations, watch closely for a shift in the regulatory climate. Anthony Albanese, the new Australian Labor Party prime minister, has made regulating crypto a top priority. However, neither he nor his cabinet has given a clear indication of how it may approach the unregulated space.     No word yet on whether Australia’s innovative crypto legislation will go through.     “Labor campaigned for government without a policy for cryptocurrency,” says Senator Andrew…

Voyager Files for Bankruptcy Citing Contagion in Crypto Markets, Three Arrows Capital’s Loan Default – Featured Bitcoin News

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Crypto lender Voyager Digital has filed for Chapter 11 bankruptcy. The company explained that the “prolonged volatility and contagion in the crypto markets” and the default of crypto hedge fund Three Arrows Capital (3AC) on a loan require it “to take deliberate and decisive action now.” Voyager’s Bankruptcy Filing Voyager Digital Ltd. (TSE: VOYG) announced Wednesday that it has filed for Chapter 11 bankruptcy. The announcement details: The company and its main operating subsidiaries filed voluntary petitions for reorganization under Chapter 11 in the U.S. Bankruptcy Court of the Southern…

Ethereum Name Service registrations surge by 200% amid lower gas fees

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Ethereum domains showed an increase in demand as Ethereum Name Service (ENS) registration totaled 126,141 registrations in just one week.  The ENS Dashboard, a data tracker created by developer Nick Johnson, shows that registrations went from 11,042 to 29,727, increasing over 200% during the weekend. This happened amid the second-largest .eth domain sale when “000.eth” was bought on Sunday at 300 Ether (ETH), which was worth around $320,000 at the time of sale. Because of the purchase, ENS’s daily revenue jumped up to $684,174 when the sale was completed. Following this, the…