Tag: Report

Bitcoin mining showed strong growth in 2024 despite halving: report

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Bitcoin mining reached significant milestones in 2024, according to the latest industry update from H.C. Wainwright analysts Mike Colonnese and Dylan Scales. Bitcoin (BTC) surged 121% year-over-year, closing the year at $93,390 and outpacing all other asset classes. Key drivers behind the rally included the launch of U.S. spot Bitcoin ETFs, accelerating institutional adoption, and the re-election of pro-Bitcoin President Donald Trump, according to an analyst note shared with crypto.news. The Bitcoin network’s hash rate hit 796 EH/s by year-end, marking a 59% increase from 2023. This growth was primarily…

Bitcoin Loses $93K as Goldman Trims Fed Rate Cut Expectations, BofA Sees Potential Hike After Blowout Jobs Report

Bitcoin (BTC) started the new week on a negative note as major investment banks reassessed their expectations for Federal Reserve (Fed) rate cuts following Friday’s strong jobs report. The leading cryptocurrency by market value dipped below $93,000 during the European hours, representing a 1.6% drop on the day, according to data source CryptoX. Prices looked set to test the support zone near $92,000, which has consistently acted as a floor since late November. The CryptoX 20 Index, a broader market gauge, was down over 3%, with major coins like XRP,…

Report: Stablecoin Powerhouse Tether Dives Into AI Filmmaking

Bloomberg’s Suvashree Ghosh reports that Tether, the leading issuer of stablecoins, is embarking on a bold foray into artificial intelligence (AI) filmmaking, signaling an ambitious innovation agenda. Tether Boss Discusses Bold Step Into AI Filmmaking Renowned for its commanding role in the stablecoin sphere, Tether manages roughly $137 billion USDT in circulation. The company has […] Source CryptoX Portal

Inside Bitcoin Mining’s 2024 Revolution: Report Reveals Triumphs and Trials

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The 2024 bitcoin mining industry reached historic milestones while grappling with significant obstacles, according to an extensive report sponsored by Nicehash and authored by Digital Mining Solutions and Bitcoinminingstock.io. The comprehensive study sheds light on unprecedented network expansion, advancements in hardware efficiency, and major economic transitions. Nicehash and Digital Mining Solutions Showcase the Bitcoin Mining […] Original

Trump-Fuelled Bitcoin Rally May Fade Ahead Of January FOMC Meeting: Report

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Este artículo también está disponible en español. A recent report by digital assets research firm 10x Research highlights that the US Federal Reserve’s (Fed) stance on interest rate cuts remains the most significant hurdle that could dampen the current Bitcoin (BTC) rally. Bitcoin’s Trump-Fuelled Rally At Risk Ahead Of FOMC Meeting Since pro-crypto Republican candidate Donald Trump secured victory in the November presidential election, Bitcoin has climbed an impressive 47%, rising from approximately $67,500 on November 4 to around $99,700 as of January 6. Related Reading While further gains are…

Bitcoin becomes 7th largest global asset, stablecoins and AI drive crypto in 2024: report

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A new Binance report for December highlights bullish and notable trends in the crypto space as we enter a new year. The cryptocurrency market closed in 2024 with a record-breaking performance. Bitcoin (BTC) broke through $100,000, driven by regulatory optimism, bullish sentiment, institutional adoption, and technological innovation. Binance’s December Research Monthly Market Insight report highlighted some growing trends that the firm saw in 2024, as well as in the month of December. Stablecoins like Ethena’s USDe (USDe) gained traction in decentralized finance, while artificial intelligence became a key transformative force. …

UAE’s Bitcoin mining firm Phoenix Group expands in US ahead of Nasdaq listing: report

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Abu Dhabi-listed Phoenix Group deepens its U.S. footprint with the opening of a 50 MW crypto mining site in North Dakota. Phoenix Group has opened a 50 MW crypto mining facility in North Dakota, as the Abu Dhabi-based firm doubles down on its plan to expand Bitcoin (BTC) mining operations in the U.S., per an Arabian Gulf Business Insight report. The facility will add over 2.7 exahashes to Phoenix Group’s mining arm once fully operational. Phoenix Mining chief executive Reza Nedjatian described the U.S. as a key market for the…

BTC and ETH Defy Expectations: Report Highlights Calm Markets Amid Year-End Options Expiry

A collaborative study from Bybit and Block Scholes provides an in-depth examination of bitcoin (BTC) and ether (ETH) derivatives, shedding light on market behavior during the pivotal 2024 year-end options expiration. Bitcoin and Ethereum Open Interest: Bybit and Block Scholes Report Highlights a Picture of Stability The Bybit and Block Scholes analysis shared with Cryptox.trade […] Source CryptoX Portal

Bitcoin perpetual swaps stabilize amidst year-end, Ethereum options on track for short-term volatility: report

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Bybit and Block Scholes’ latest report reveals that the Bitcoin options market maintained stability in the face of year-end expirations, while Ethereum options are poised for brief volatility. According to a report published by crypto exchange Bybit and analytics platform Block Scholes, open interest in Bitcoin (BTC) perpetual swaps remained stable throughout the year-end expirations. This stability came as a surprise, as options nearing their expiration date typically cause price swings. The report suggests that traders are cautious but confident enough in their options’ stability that they did not overly…