Month: July 2024

Bitcoin Mining Giant Marathon Digital Makes Major $100M BTC Acquisition

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Ronaldo is an experienced crypto enthusiast dedicated to the nascent and ever-evolving industry. With over five years of extensive research and unwavering dedication, he has cultivated a profound interest in the world of cryptocurrencies. Ronaldo’s journey began with a spark of curiosity, which soon transformed into a deep passion for understanding the intricacies of this groundbreaking technology. Driven by an insatiable thirst for knowledge, Ronaldo has delved into the depths of the crypto space, exploring its various facets, from blockchain fundamentals to market trends and investment strategies. His tireless exploration…

Can RNDR reach $25 in 2025?

With the 2025 bull run around the corner, the Render Network price can rise dramatically. The surge in demand for 3D graphics in entertainment raises the question: Could RENDER soar to $25 by 2025? Let’s explore the factors at play. What is Render? The Render Network is a decentralized platform for GPU rendering that allows artists to use powerful GPU nodes worldwide for their projects on demand. Node providers contribute their unused GPU power to a blockchain-based marketplace, which enables faster and cheaper rendering than traditional centralized services. In this…

Cardano Among Alts Likely To See Price Boosts, Santiment Says

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On-chain analytics firm Santiment has revealed Cardano (ADA) is one of the altcoins that could likely see price jumps shortly. Cardano Among Altcoins That Are Being Heavily Shorted Right Now In a new post on X, Santiment has talked about the altcoins being shorted against on the derivatives market. The indicator of relevance here is the “Funding Rate,” which keeps track of the periodic fee that derivatives traders have to exchange with each other. When the value of this metric is positive, it means the long contract holders are currently…

Why The $0.6 Level Is Important To ADA

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Cardano (ADA) is currently in a pronounced seven-day decline, which was exacerbated by a fresh descent below the $0.41 mark. This decline is part of a broader trend observed across many altcoins, which have reacted negatively to Ethereum’s significant drop in the last 24 hours. The decline represents a correction from a bullish run that began earlier in the month, during which ADA holders saw good gains. Consequently, this up-and-down movement has created some critical support and resistance levels for ADA, which will be crucial for investors to monitor in…

US Bitcoin ETFs Draw $44.51M in Inflows; GBTC Sees Another Round of Outflows

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While U.S. spot ether exchange-traded funds (ETFs) experienced outflows on Wednesday, bitcoin ETFs saw inflows totaling $44.51 million. Blackrock’s IBIT led with gains of $65.99 million, followed by Ark Invest’s and 21shares’ ARKB with $3.29 million. While Blackrock Captures Nearly $66M, Grayscale Outflows Weigh in Again During Wednesday’s trading sessions, U.S. spot bitcoin ETFs accumulated […] Original

Jersey City to Invest in Bitcoin ETFs, the Latest Pension to Dive Into Crypto

Wisconsin’s public pension plan – the State of Wisconsin Investment Board, which has roughly $156 billion in assets under management – is the biggest pension plan to dive into crypto so far, with a $160 million investment into spot bitcoin ETFs earlier this year. Some small pension funds like the Houston Firefighters’ Relief and Retirement Fund, which has about $5 billion in assets under management, have been invested in crypto for several years. Source

More demand for BTC than ETH for now

BlackRock’s head of digital assets, Robert Mitchnick, said Bitcoin ETFs currently draw more investor demand than Ethereum funds. The Bitcoin 2024 conference in Nashville, which is expected to attract 20,000 crypto enthusiasts, comes as exchange-traded funds now offer exposure to the largest cryptocurrencies: Bitcoin (BTC) and Ethereum (ETH). Spot ETH ETFs are the new market entrants, but spot BTC ETFs have traded since January and amassed over $60 billion in assets under management, per SoSoValue. Mitchnick remarked that it’s still early, and flows have yet to indicate whether investors will…

Cardano Down 50% In 4 Months: Sellers Unrelenting, Best Time To Buy ADA?

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Cardano has been under pressure and selling off in the past four months. From the ADAUSDT daily chart, it is evident that bears have been in control. After peaking in March, prices plunged by as much as 60% before finding support in mid-July. Since then, ADA has recovered slightly, but bears have not relentred, especially this week. So far, ADA is still 50% after the spike in March. This set of conditions could explain traders’ bearish stance on multiple perpetual trading platforms like Binance and OKX. The slip in ADA…