Day: June 4, 2024

Bitfarm’s stock is unjustifiably discounted, sees 75% upside

Analysts from H.C. Wainright believe Bitfarm’s growth strategy is promising, and the stock could have a 75% upside. In a recent market report, the analysts expressed optimism about Bitfarms‘ potential to expand its market share and lower production costs in 2024. They cited Bitfarm’s actions to embark on a fleet upgrade and growth strategy and anticipate a reduction in electricity costs.  Bitfarms is a worldwide, fully integrated Bitcoin mining company with 12 mining facilities worldwide. Despite potential short-term volatility due to macro and geopolitical concerns, the H.C. Wainright analysts are…

Small bitcoin stake makes sense regardless of cryptocurrency thesis, says Fidelity

boss

Some investors might be trying too hard to understand bitcoin and missing an investing opportunity in the process, according to an executive from Fidelity Digital Assets. Matt Horne, head of digital asset strategies at the firm’s custody and trading arm for institutional investors, said investors and advisors are busy sharpening their cryptocurrency thesis when a small portfolio allocation is likely appropriate for them regardless of their thesis. “You could have multiple investment theses on bitcoin, and that’s okay,” Horne said Monday at the 2024 Vision conference, a crypto investing conference…

Bitcoin Not ‘Overvalued’ Yet, Says CryptoQuant CEO: Here’s Why

boss

The CEO of the on-chain analytics firm CryptoQuant explained that Bitcoin’s price isn’t currently overvalued based on its network fundamentals. Bitcoin Price May Not Be Overvalued Yet Based On Thermo Cap Ratio In a new post on X, CryptoQuant CEO and founder Ki Young Ju has discussed about how the recent trend in the Bitcoin Thermo Cap Ratio has been like. The “Thermo Cap” is a capitalization model for BTC that calculates the total value of the asset by taking each token’s value as the same as the spot price…

Galaxy Digital: The Role of Memecoins in the Crypto Economy and Blockchain Ecosystem

Memecoins have solidified their presence as a cornerstone of the crypto economy, despite skepticism regarding their technical innovation and value, according to Galaxy Digital. While some blockchain developers argue that memecoins overshadow more earnest technological advancements, their viral nature has allowed them to proliferate across the market, accumulating significant value. Memes and Expression Through the Ages Historically, memes have been central to human culture, evolving with social, cultural, and technological shifts. From ancient cave paintings to modern internet memes, these symbols and ideas have continually…

BNB Token Less Than 10% From Record High

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated. CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as…

Indian Election Result Sends Equity Market Crashing With Uncertain Implications for Crypto Legislation

While Modi’s Bharatiya Janata Party (BJP) and its allies are poised to return to power, they didn’t hit the supermajority mark of 370 plus seats in India’s 543-seat lower house of parliament, which they predicted. In fact, the BJP alone did not hit the halfway mark of 272, which it had comfortably crossed in the 2019 election. The result hands kingmaking power to his allies, and the opposition led by the Indian National Congress could attempt to lure them away. Source

Monex USA Integrates with Payments Exchange from Fiserv for Wire Transfer

boss

Monex USA, a specialist in global payment, corporate FX, and currency risk hedging services, has announced plans to integrate with Payments Exchange from Fiserv, a global provider of payments and financial technology. Integration for Wire Transfers This collaboration will enable financial institutions using Payments Exchange to directly engage with Monex USA as their foreign exchange partner for international wire transfers. “Monex USA’s integration with Payments Exchange will expand financial institutions’ service offerings for their clients,” said Mike Rockouski, Managing Director of Financial Institutions at Monex USA. “This integration underscores our…