Bitcoin (BTC) and Ethereum (ETH), two of the largest blockchains, continued to lead the NFT market in May. While this initially seemed promising, a closer look revealed that NFT sales volumes for both ETH and BTC had actually declined over the past 30 days. NFTs for Bitcoin and Ethereum in May A tweet from Coin98 … Read more
OKX wallet transaction management has faced criticism due to an allegedly ineffective automated system that has caused transaction fees to skyrocket. Mononaut, the founder of the blockchain analysis platform mempool, reported that from block 846,867 onwards, OKX processed over 2,380 transactions, incurring a staggering cost of 254.28 BTC, or about $17.6 million. These revelations highlight … Read more
In May, Stronghold Digital Mining experienced a significant decrease in its monthly Bitcoin mining output, with a decline of 47.1% compared to April. During May, the company mined 82 BTC, contrasting with the 155 BTC mined in April. Similarly, revenues for May dropped by 46% to $5.2 million compared to the previous month. Stronghold directly … Read more
The cryptocurrency market hasn’t been uniform across all assets. While Bitcoin (BTC) has seen positive performance, top coins like Ethereum (ETH) and Ripple (XRP) have struggled. The potential for altcoins to gain momentum and rally largely hinges on Bitcoin’s performance. Recognizing the onset of an altcoin season is crucial as it can provide insights into … Read more
Starknet, a layer-2 scaling solution, has reiterated its dedication to scaling Ethereum and Bitcoin using Zero-Knowledge (ZK) technology. Emphasizing its commitment to Ethereum scaling since its initial validity rollup release, Starknet has revealed an ambitious 2024 roadmap aimed at revolutionizing Ethereum scaling. The roadmap underscores Starknet’s focus on developing STARK proofs to boost the security … Read more
Bitdeer Technologies has unveiled the SEAL04 chip as part of its technology roadmap for the newly introduced SEALMINER rig. The chip, slated for launch in Q2 2025, is expected to deliver energy efficiency as low as 5J/TH (joules per terahash). This roadmap aims to enhance transparency in mining operations, managing miners’ expectations regarding technological advancements … Read more
As per a recent report from CryptoQuant, large investors, often referred to as “whales,” are accumulating Bitcoin at a rate reminiscent of the period before the 2020 bull market. The data from the firm indicates daily inflows of $1 billion into Bitcoin and a notable uptick in holdings by these whales, similar to patterns observed … Read more
Bitcoin exchange-traded funds (ETFs) have attracted $488 million in net inflows, pushing the price of BTC to $71,767, nearing its peak value and indicating renewed investor confidence. US-based spot Bitcoin ETFs are experiencing a surge in investor trust, deviating from recent trends. On June 5, 2024, these ETFs witnessed a net inflow of $488.24 million, … Read more
The surge in the United States’ money supply, nearing $100 trillion, is expected to positively impact the price of Bitcoin, currently trading at $71,000. Philip Swift, the founder of LookIntoBitcoin, shared a chart on X, indicating a correlation between global money supply (M2) and Bitcoin’s price movements. The current M2 of $94 trillion significantly surpasses … Read more
Bitcoin advocate Max Keiser has once again emphasized his belief in Bitcoin’s superiority over Ethereum, forecasting a bleak outlook for the latter cryptocurrency. On a social media platform, Keiser reiterated his longstanding argument that Ethereum, along with other alternative coins, pales in comparison to Bitcoin due to fundamental disparities in their technologies and legal categorizations. … Read more