Day: August 1, 2024

Riot Platforms posts 52% decrease in Bitcoin production for Q2

boss

Bitcoin mining firm Riot Platforms has released its Q2 financial results, showing a decline in mined crypto due to the recent halving. Colorado-based Bitcoin (BTC) mining firm Riot Platforms has unveiled its Q2 financial results, highlighting a significant reduction in mined cryptocurrency attributed to the recent halving event that took place earlier in April. The company reported total revenue of $70 million for the quarter ending July 31, an 8.7% decline compared to the same period in 2023. Riot Platforms attributed the revenue dip mainly to a $9.7 million decrease…

Report Reveals China Continues to Secretly Grow Its Gold Stash, Misleading Market to Cause Price Cool-Off

Jan Nieuwenhuijs, a gold analyst specializing in Chinese markets, alleges that China has continued to secretly buy gold without reporting it to the market, benefiting from a price cool-off. Nieuwenhuijs states that the strategy of the PBOC is to purchase gold through UK bullion banks, which goes unreported by using non-traditional bank conduits. Report Alleges […] Source CryptoX Portal

Bitcoin ETFs hold inflows by string, Ethereum’s outflows start again

boss

Spot Bitcoin and Ethereum exchange-traded funds in the United States have recorded poor results this week as bears dominate the market sentiment. According to data provided by Farside Investors, spot Bitcoin (BTC) ETFs recorded a net inflow of roughly $300,000 yesterday, July 31. BlackRock’s iShares Bitcoin Trust (IBIT) saw $21 million in inflows, continuing its third consecutive month without any outflows. On July 31, Grayscale also launched its spot Bitcoin Mini Trust, with the BTC ticker, on NYSE Arca. The newly-born ETF registered $18 million in inflows on its debut…

Bitcoin Holds Ground At $65,700 Amid Unchanged Fed Rates, Anticipating September Moves

boss

In the wake of the highly anticipated address by Federal Reserve Chair Jerome Powell, Bitcoin (BTC) maintained a steady course on Wednesday as the Fed opted to keep interest rates unchanged at 5.25%-5.50%.  Crypto Market Awaits Fed’s Next Move Powell, speaking at a press conference in Washington DC, hinted at the possibility of rate reductions in September, contingent upon the economic performance in the weeks leading up to that month. “We’ve made no decisions about future meetings and that includes the September meeting,” Powell stated. “We’re getting closer to the…

Tether Reports Record-Breaking $5.2 Billion Net Profit In Latest 2024 Audit

boss

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…

Ethereum Seeing High Exchange Outflows, But Watch Out For This Bearish Signal

boss

On-chain data shows Ethereum has been observing high exchange outflows recently, but a development related to Tether (USDT) may be a bearish obstacle for the market. Ethereum And Tether Both Have Seen Withdrawals From Exchanges Recently As explained by the on-chain analytics firm Santiment in a new post on X, the market is ending July on a mixed note in terms of the exchange flows. The metric of interest here is the “Exchange Flow Balance,” which measures the net amount of a given asset that’s entering into or exiting the…

US Senator Discusses Trump’s Bitcoin Plan and National BTC Stockpile

boss

U.S. Senator Bill Hagerty has discussed former President Donald Trump’s bitcoin plan, which includes creating a national bitcoin stockpile. The lawmaker expects to see several legislative proposals beyond what Trump announced. He believes this move will establish credibility for the currency and demonstrate national support for it. Senator Hagerty Discusses Trump’s Bitcoin Strategy U.S. Senator […] Original

BNB Chain TVL Slumps 24% In Q2, Yet Vital Metrics Surge In Double Digits

boss

The BNB Smart Chain (BSC) experienced a mixed performance in the second quarter (Q2) of the year as the broader cryptocurrency market cooled off after a strong price surge in March. While BNB, the native token of the BSC, remained mostly flat, down 5% quarter-over-quarter (QoQ), the network’s key metrics showed both positive and negative trends. Binance Smart Chain Revenue Plunges According to a recent report by market intelligence platform Messari, the chain’s revenue, which measures the total fees collected by the network, fell 28% QoQ to $48.1 million during…

Analyst says 99Bitcoins token could 10x as presale enters final days

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. 99Bitcoins token presale ends in 6 days, having raised $2.5M in presale so far. Investors are scrambling to get in early on 99Bitcoins token (99BTC). It’s having a presale and has raised over $2.5 million so far. However, those yet to buy are now racing against the clock – the campaign ends in six days. Following this, 99BTC will launch on exchanges, and leading industry analysts believe it will…