The Russian State Duma is considering a bill related to cryptocurrency mining and sales, but the legislation is not expected to be approved by fall. The bill aims to legalize crypto mining and allow the sale of mined digital currency. Currently, cryptocurrency cannot be used for settlements in Russia. The proposed law specifies that digital […] Source CryptoX Portal
Bitcoin (BTC) has undergone a significant change in market behavior, diverging from the currently bullish U.S. equities, as it faces challenges in its attempt to surpass the $63,000 price level. According to a Bitfinex report shared with crypto.news, H1 2024 began with optimism for the market, leading to a Bitcoin all-time high above $73,000. However, this enthusiasm weakened by mid-year, with Bitcoin struggling in June due to several headwinds. BTC is now down nearly 15% from its March peak. Per Bitfinex analysts, prevailing policies have significantly diminished Bitcoin’s volatility and…
Solana-based meme coin Bonk (BONK) has recently surged 10%, outperforming other popular meme coins within the top 100 cryptocurrencies. At the time of writing, BONK had risen by 8% in the last 24 hours, trading at $0.000025. Its market capitalization stands at $1.77 billion, making it the 52nd largest cryptocurrency, according to CoinMarketCap. BONK 24-hour price chart | Source: CoinMarketCap The token’s daily trading volume has also seen a significant increase, doubling to around $350 million. However, BONK remains 44% below its all-time high of $0.000047, which was reached on…
The digital asset market is experiencing a wave of investor caution, with Ethereum leading the charge. CoinShares reports show a third consecutive week of outflows, with Ether sustaining the biggest damage. This negative sentiment in the top altcoin, coupled with sluggish trading volumes and regional outflows across the market, paints a picture of a market searching for direction. Related Reading Ethereum Faces Headwinds Despite Upcoming Milestone Ethereum, the world’s second-largest cryptocurrency, has seen the worst outflows of any digital asset this year, reaching a staggering $61 million last week. The…
In a Monday statement, the issuer, whose products include PayPal USD (PYUSD) as well as its own Pax Dollar (USDP), also said DBS, the state’s biggest bank, will be its primary banking partner for cash management and the custody of its stablecoin reserves. Source
These Hot Crypto Tokens Beat Bitcoin Gains in Q2. Here's What Drove Prices And What's Next Original
Net inflows into spot ether ETFs below $3 billion would be a disappointment given that bitcoin versions received $15 billion of inflows in the first six months, Gemini said. Net inflows above $5 billion, a third of the bitcoin ETF level, would be a strong showing, and anything close to 50% or $7.5 billion would be a “significant upside surprise.” Source
Northern Data, a European cloud computing, artificial intelligence (AI), and bitcoin mining company, is reportedly mulling going public in U.S. markets. The company would be in talks to complete its initial public offering (IPO) in 2025, creating an entity combining its AI cloud computing and data center divisions. This new entity would have a valuation […] Source CryptoX Portal
Arthur Hayes, the co-founder of crypto exchange BitMEX, has recently offered a comprehensive analysis in his latest essay, “Zoom Out,” drawing compelling parallels between the economic upheavals of the 1930s-1970s and today’s financial landscape, specifically focusing on the implications for the Bitcoin and crypto bull run. His in-depth examination suggests that historical economic patterns, when properly understood, can provide a blueprint for understanding the potential revival of the Bitcoin and crypto bull run. Understanding Financial Cycles Hayes begins his analysis by exploring the major economic cycles starting from the Great…
Germany’s Bitcoin mining company Northern Data is reportedly in talks with potential advisers about a U.S. initial public offering planned for next year. European crypto mining giant Northern Data AG is mulling the possibility of conducting an initial public offering (IPO) for its combined artificial intelligence (AI) cloud computing and data center businesses in the U.S. next year, according to a Bloomberg report, which cites sources familiar with the matter. The IPO is expected to value the entity between $10 billion and $16 billion, according to the sources. They added…