The crypto market has shown a revival in the past few days after the August first weekend market crash. Notably, the overall market cap has increased by 6.50% while the daily trading volume exhibited slight declines. Leading cryptocurrency Bitcoin showed notable surges over the past day as the present positive
A new report from Blockbridge indicates that the miner hashprice, a measure used to assess mining profit margins, has hit an all-time low of $36 petahash per second (PH/s). If the next difficulty recalculation is not modified down, the storage infrastructure business anticipates a bleak picture for miner profitability. The
A piece of legislation to legitimize Bitcoin (BTC) and crypto mining was adopted by Russian President Vladimir Putin on August 8th. As part of its foreign policy, the nation is working to lessen its need for the US currency. Approved mining enterprises will be able to register via a state
Wednesday saw a return to positive flows for the U.S.-based spot bitcoin exchange-traded funds, which reported net inflows of $45.14 million. In the previous three trading days, over $554 million departed from spot bitcoin ETFs. Among yesterday’s inflows, $52.52 million went to BlackRock’s IBIT, according to SoSoValue statistics. Then, WisdomTree’s
A further loan of 1 billion Japanese Yen was secured earlier today by the publicly-listed Japanese corporation Metaplanet, further solidifying its Bitcoin acquisition strategy. The announcement of the $68 million stock rights offering for the purchase of BTC came the day before this action. Raising an extra 1 billion Japanese
The UK’s financial watchdog, the Financial Conduct Authority (FCA), has issued fresh guidelines for cryptocurrency companies that promote cryptocurrency services. In October 2023, the FCA implemented laws regarding the marketing of cryptocurrencies and has since been assisting the sector in meeting these requirements. The authority looked at how businesses were
Michael Saylor has come clean about his Bitcoin (BTC) ownership. He is the co-founder and chairman of the American software and business analytics company MicroStrategy. Previous rumors about Saylor’s personal Bitcoin bets were confirmed when he made this announcement earlier today. The fact that Michael Saylor owns Bitcoin is not
A Hong Kong-based virtual bank is considering expanding into spot trading markets after launching crypto exchange-traded fund trading for clients. The first virtual bank to provide direct trading of spot Bitcoin ETFs and Ether ETFs on its platform, Mox, a subsidiary of Standard Chartered, made history on August 7 when
Net outflows of $148.5 million were recorded by U.S. spot bitcoin exchange-traded funds on Tuesday, continuing their bearish outlook. With $64.48 million, Fidelity’s FBTC was the most heavily-affected bitcoin fund yesterday, according to statistics from SoSoValue. The converted GBTC fund run by Grayscale had withdrawals of $32.18 million, while the
In a striking display of confidence, Bitcoin holders, often referred to as “hodlers,” have significantly increased their positions over the past month. Data from on-chain analytics platforms reveals that these long-term investors have collectively added substantial Bitcoins. Approximately $23 billion worth of BTC have been added to their holdings in
