Day: July 18, 2024

Bitcoin mining analyst on Bitfarms: ‘CEO overhang now lifted’

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Despite recent takeover attempts and staff changes, analysts at H.C. Wainwright believe that Bitfarms’ future is bright.  On Wednesday, Bitcoin mining company Bitfarms hosted a virtual fireside chat featuring newly appointed CEO Ben Gagnon and CFO Jeff Lucas. This event marked Mr. Gagnon’s first public appearance since taking on the CEO role.  The discussion covered key topics, including the company’s strategic direction, expansion plans, and management’s perspective on the valuation disconnect with the company’s fundamentals. Analysts at H.C. Wainwright believe the company is making good progress toward achieving its hash…

Kamala Harris overtakes Biden for Dem nominee

Barely 24 hours after President Joe Biden tested positive for COVID-19, Polymarket punters began piling bets on Vice President Kamala Harris securing the Democratic ticket. Bettors wagering on Polymarket’s “Democratic Nominee 2024” outcome have staked $13.6 million on the odds that Kamala Harris will be picked over Joe Biden. The odds of Harris representing the Democrats in the November election increased to 52% on Thursday, up from under 25% at the start of the week. Biden’s odds moved inversely, dropping from over 55% on Monday to 30% at press time.…

Cryptoquant Insights Report: Seller Fatigue Suggests Bitcoin Price Bottom

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Bitcoin prices may have reached a local low, as suggested by researchers at cryptoquant.com. The firm’s recent institutional insights report says large sellers appear to have depleted their selling power, and key valuation metrics point to potential positive price movement. Report Notes Seller Exhaustion in Bitcoin Markets, Despite Low Stablecoin Liquidity In the past week, […] Original

THORChain Primed For Big Gains, Analyst Eyes $20 Milestone

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Rising as a major competitor for a big breakthrough is THORChain (RUNE). Rune has showed strength, recovering by around 23% during the previous week following a recent fall to $3.10. At $4.22 right now, the coin is attracting both traders and analysts, with some even seeing a solid upward path. Related Reading Market Statistics And Growing Hope With a market capitalization of $1.41 billion and a 24-hour trading volume of $207 million as of the most recent figures, THORChain represents a 0.06% market domination. Driven partly by the bullish phase…

Crypto for Advisors: Web2 to Web3

While Base targets crypto-curious users, TON’s potential TAM is even bigger, targeting the 900 million users on Telegram. Launched in 2023, Telegram quickly became a top-five Web2 social app by users globally and the dominant app in Russia, Eastern Europe, Southeast Asia and parts of Africa. TON, The Open Network, was initially designed by founding members of the Telegram team to integrate blockchain into Telegram’s ecosystem. Given Telegram’s multi-country user base and unique geopolitical backdrop, a unified crypto payment rail could be highly beneficial. TON’s integration into Telegram includes seamless…

US Bitcoin ETFs Record Ninth Consecutive Day of Gains, Adding $53.35 Million

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U.S. spot bitcoin exchange-traded funds (ETFs) achieved their ninth consecutive day of gains on Wednesday, amassing $53.35 million. Blackrock’s IBIT garnered $110.37 million in inflows, whereas Grayscale’s GBTC experienced $53.86 million in outflows. Blackrock’s IBIT Boosts Reserves to $21B Amid $110.37M Inflows On July 17, the 11 spot bitcoin ETFs recorded $1.79 billion in trade […] Original

ECB Maintains Interest Rates Amid Persistent Inflation Concerns

The European Central Bank (ECB) maintained its interest rates on Thursday, indicating that domestic price pressures and elevated inflation levels will persist into next year. After a recent rate cut, the ECB adopted a cautious stance, suggesting more evidence is needed before making another move. The ECB highlighted that while corporate profits are mitigating some […] Source CryptoX Portal