Day: April 2, 2024

Bitcoin miners earned record $2b before halving

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Bitcoin miners earned over $2 billion in March, reaching a new all-time high. According to The Block analytics, the previous all-time high was reached in May 2021, when miners’ total income amounted to $1.7 billion. Miners’ earnings consist of rewards for mined blocks and transaction fees on the Bitcoin network. Of the total revenue in March, $85.8 million came from transaction fees, a record monthly figure. Source: The Block The leader was the mining pool Foundry USA, which mined 1,312 blocks, 29.74% of the total blocks in the network. Antpool,…

Crypto Institutional Investors Pump $862 Million Into The Market

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Crypto investment products are up again in terms of inflows, giving the crypto industry a much-needed breather. Recent market dynamics have seen Bitcoin leading the surge of inflows into crypto investment products, signaling a possible resumption of bullish sentiment. James Butterfill, head of research at Coinshares, reported this inflow in a social media post. The statistics indicate that crypto investment products received inflows of $862 million over the timeframe spanning from March 23 to March 29 to reverse the record net outflows of $942 million set in the prior week.…

Crypto Exchange Figure Markets Has a Plan to Democratize Finance

Market makers like Jump saw huge value, both in Figure Markets’ decentralization, as well as the possibilities of cross-collateralization. But they flagged another issue, the problem around liquidity for lend/borrow, and the ability to access capital from a lend/borrow standpoint, Cagney said. “Look at the prime brokers in crypto, there’s really only somewhere in the hundreds of millions of dollars of capital available to lend in an industry that could easily consume billions of dollars of capital a day.” Source

Ethereum Could Face ‘Hidden Risks’ from Redhot Restaking Market: Coinbase

“EigenLayer’s staking protocol is poised to become the bedrock for a wide range of new services and middleware on Ethereum, which, in turn, could generate a meaningful source of ether (ETH) rewards for validators in the future,” analysts David Han and David Duong wrote, noting that it is now the second largest DeFi protocol with $12.4 billion in total value locked. EigenLayer allows validators to earn extra rewards by securing actively validated services (AVS) by restaking their staked ether and “builds upon the foundation of the existing staking ecosystem by…

Bitcoin Traders Spread “Buy The Dip” As BTC Plunges Below $66,000

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Data shows “buy the dip” calls for Bitcoin have spiked around social media following the plummet the asset has seen below the $66,000 level. Bitcoin Social Volume For Terms Related To Buy The Dip Has Shot Up According to data from the analytics firm Santiment, Bitcoin investors have more heavily reacted with bullish calls than bearish ones despite the sharp decline the asset has observed. The indicator of relevance here is the “Social Volume,” which tells us about the amount of discussion a given topic or term is receiving on…

Bitcoin Traders Spread “Buy The Dip” As Bitcoin Plunges Below $66,000

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Data shows “buy the dip” calls for Bitcoin have spiked around social media following the plummet the asset has seen below the $66,000 level. Bitcoin Social Volume For Terms Related To Buy The Dip Has Shot Up According to data from the analytics firm Santiment, Bitcoin investors have more heavily reacted with bullish calls than bearish ones despite the sharp decline the asset has observed. The indicator of relevance here is the “Social Volume,” which tells us about the amount of discussion a given topic or term is receiving on…

US Bitcoin ETFs See $85.7M Outflow After 4 Days of Gains; Grayscale’s GBTC Leads the Dip

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After four days of consecutive inflows, the U.S. spot bitcoin exchange-traded funds (ETFs) experienced a downturn, with $85.7 million flowing out during Monday’s trading hours. U.S. Spot Bitcoin ETFs’ Momentum Halted With $85.7M in Outflows, Spotlight on GBTC Between March 25 and March 28, 2024, the U.S. spot bitcoin ETFs enjoyed an upward trend, amassing […] Original

Analyst Eyes Final Peak Ahead Of Halving

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Once again, there is hope for Bitcoin (BTC) as Michael Van De Poppe, a cryptocurrency expert, has spotlighted the potential for the crypto asset’s price to reach a new all-time high before the highly anticipated Halving event commences. One Final All-Time High For Bitcoin Before Halving The price of Bitcoin is presently exhibiting new bearish activity, which might trigger negative sentiments in the market over the next few days. Despite the notable decline, Michael Van De Poppe is optimistic that BTC will attain a new height prior to Bitcoin Halving…

How the Bitcoin Halving Could Affect Network Security

The halving, which occurs approximately every four years, reduces the rate at which new bitcoins are created, thus enforcing scarcity and potentially driving up the cryptocurrency’s value. However, for miners, this means an immediate halving of revenue from mined blocks, assuming the price of bitcoin does not increase proportionately. Source