The dwindling metric points to declining selling pressure in the bitcoin market. Source
Bitcoin's Prospects Strengthen as Key Stablecoin Metric Slides to Lowest Level in 18 Months
Day: August 13, 2024
TeraWulf sees 130% revenue growth despite over 20% drop in Bitcoin production
Bitcoin miner TeraWulf has reported a 130% revenue increase in Q2 despite a more than 20% decline in crypto production. TeraWulf Inc., a public U.S.-based Bitcoin mining company, has announced its Q2 financial results, showcasing a 130% increase in revenue year-over-year despite a decline in Bitcoin production. Per the company’s Aug. 12 press release, its revenue surged to $35.6 million from $15.5 million in the same quarter last year, while gross profit rose to $21.7 million, up from $10.3 million. However, the gross profit margin fell to 60.9% from 66.9%…
PEPE Price Recovers 10% As Whales Load Their Bags
Crypto whales have taken advantage of the recent market downturns, loading up their bags as the price of several tokens slipped to lower levels. During the last few retraces, a whale bought over 400 billion PEPE, already registering unrealized profits from its purchase. Some market watchers believe the token is poised to lead the “memeseason” after its recent performance. Related Reading Whale Goes On Buying Spree A week ago, the crypto market saw a significant slump, with most cryptocurrency prices nosediving by over 20%. Bitcoin (BTC) saw its price fall…
Canadian regulator finds crypto platform ezBtc diverted over $9m in assets
The B.C. Securities Commission has ruled that the crypto platform ezBtc defrauded its customers, diverting $9.4 million to gambling, personal use. A panel from Canada‘s British Columbia Securities Commission has found that a crypto trading platform based in British Columbia, dubbed “ezBtc,” engaged in fraudulent activities by misleading its customers and diverting approximately C$13 million (over $9.4 million) of their assets to gambling. In a press release on Aug. 12, the BCSC said that the platform, established by former British Columbia resident David Smillie, assured customers that their crypto holdings…
Liquidators for Three Arrows Capital Now Sue Terraform Labs for $1.3B: Bloomberg
This case alleges that TerraForm induced 3AC to purchase Luna and TerraUSD by manipulating the market for these tokens “in a manner that artificially inflated the price for the assets” before they were wiped-out, the liquidators said in court papers, as per Bloomberg. Source
Token Terminal Forecasts BlackRock To Launch Its Own Blockchain Network – Details Inside
On-chain data platform Token Terminal has set the stage for a potential seismic shift in the crypto ecosystem. It predicts that $10 trillion asset management giant and exchange-traded fund (ETF) issuer BlackRock is preparing to unveil its blockchain platform. BlackRock’s Crypto Masterplan Recent research by Token Terminal delves into BlackRock’s strategic entry into the crypto space, outlining the firm’s approach to the emerging digital asset class. According to the platform’s findings, BlackRock has segmented the crypto asset class into three distinct categories: crypto assets, including Bitcoin, stablecoins, and Real World…
Ether (ETH) Prices Beats CD20 as ETH ETFs Post Positive Inflows, DEX Tokens Rise
Data from SoSoValue shows that daily net inflow into the U.S.-listed spot ether ETFs his $4.93 million Monday, with Grayscale’s two funds posting no flows, while Fidelity’s FETH hit $3.98 million in inflow, Franklin Templeton’s EZET posting $1 million in inflow, and Bitwise’s ETHW clocking $2.86 million in positive flow. Source
Latam Insights Encore: El Salvador Forges a Path to Overcome IMF’s Bitcoin-Phobia
Welcome to Latam Insights Encore, a deep dive into Latin America’s most relevant economic and cryptocurrency-based news from last week. In this edition, we discuss the possibilities that El Salvador is opening for other countries to receive help from international institutions like the IMF even when adopting bitcoin as legal tender. Latam Insights Encore: El […] Original
Dogecoin Price (DOGE) Set For Fresh Gains: Can It Surge Higher?
Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis. From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked…
Is Now the Time to Buy Bitcoin? Top Analysts Predict $150K Surge On The Horizon
Bitcoin, the largest cryptocurrency by market cap appears to have “bottomed out” and is now poised to surge above $150,000, according to prominent crypto analyst Captain Faibik. This insight from the analyst comes as Bitcoin currently sees a sign of rebound, reclaiming the $60,000 mark following its recent plunge below $59,000. A $150,000 Surge On The Horizon In his recent post on X, Captain Faibik disclosed a distinct pattern known as the Descending Broadening Wedge found on the BTC chart. This technical pattern typically indicates bullish potential, suggesting that an upward…