Month: August 2024

Verofax Partners With Climate Tech Firm Netgreen to Power Global Reforestation Efforts

Blockchain firm Verofax has teamed up with climate tech startup Netgreen to enhance global reforestation efforts. The partnership aims to create a transparent and efficient way for individuals to support tree-planting initiatives. This collaboration will also help track and measure carbon capture, preventing double counting and ensuring compliance with environmental standards. Linking People to Verified […] Source CryptoX Portal

Bitcoin could see short-term price surge amid increased whale activity

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Bitcoin has been moving sideways recently, but a key indicator shows a potential price surge might be ahead. The Bitcoin (BTC) price has been consolidating close to the $59,000 mark over the past day with a brief surge to $60,680 earlier. BTC is up by 0.6% in the past 24 hours and is trading at $58,900 at the time of writing. BTC price, whale activity, funding rate, exchange activity and dormant circulation – Aug. 13 | Source: Santiment Moreover, the flagship cryptocurrency witnessed a 24% increase in its daily trading…

Ethereum Targets $3,000 After Market Shakeout, CryptoQuant Sees Impulsive Bull Run Ahead

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After enduring a significant downturn at the beginning of the past week, Ethereum (ETH), the second-largest cryptocurrency, has staged a modest recovery, reclaiming the crucial $2,600 level and setting its sights on the $3,000 milestone once again. The August 5 crash, which saw Ethereum’s price plummet to $2,112, marked the year’s largest market slump. However, the digital asset has since bounced back, 8% in the last seven days, hinting at the possibility of a more sustained bullish trend. Massive Ethereum Liquidations Trigger Bullish Signals According to a recent report by…

Spot Bitcoin ETFs see $27.87m inflows, outpacing Ethereum ETFs by wide margin

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Spot Bitcoin exchange-traded funds in the United States began the week with net inflows that were more than five times greater than those of spot Ethereum ETFs. According to data from SoSoValue, the 12 spot Bitcoin ETFs saw inflows of $27.87 million on Aug. 12, a flip from the $45.14 million outflows recorded on Aug. 9. Interestingly, ARK 21Shares’s ARKB led the lot with $35.4 million, bringing its total inflows since launch to $2.45 billion. BlackRock’s IBIT followed with $13.4 inflows, being the only one to record a second consecutive…

TeraWulf sees 130% revenue growth despite over 20% drop in Bitcoin production

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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

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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…

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…