Author: Maria
For many operators, high market volatility has turned Bitcoin mining into a real rollercoaster. But, some operators enjoy a smooth ride: in just one week, miners reported more than $3.40 million in profits. This surge in profit comes at an important time after a period of uncertainty in the cost of operation and the value of Bitcoin, to which miners had to promptly adapt in view of the changing landscape of the cryptocurrency market. Data from the analytic platform CryptoQuant outlined notable surges in miner’s realized profit. One of those surges happened in mid-July when early miners profited more than…
On-chain data shows the Ethereum whales have recently gone on a significant accumulation spree, a sign that could be bullish for ETH’s price. Ethereum Whales Have Added 200,000 ETH To Their Holdings Recently As explained by analyst Ali Martinez in a new post on X, the ETH whales have gone on a buying spree recently. “Whales” refers to the Ethereum investors holding between 10,000 and 100,000 ETH in their wallets. At the current cryptocurrency exchange rate, the lower bound of this range converts to $26.4 million, while the upper one is $264 million. The holders of this cohort would be…
In a charged statement on X, Justin Bons, founder and Chief Investment Officer of Cyber Capital, one of Europe’s oldest cryptocurrency funds, has voiced a critical view of Ethereum’s current trajectory, asserting that “Ethereum is dying while L2’s dance on its grave.” Bons argues that Ethereum (ETH) is struggling to maintain its fee revenue due to inadequate network capacity, while Layer 2 (L2) solutions are capitalizing on this limitation by keeping Ethereum’s capacity constrained. Bons claims, “ETH cannot sustain high fee revenue because it lacks the capacity. At the same time, L2s are seeing record highs in usage & fees…
Marc Zeller, founder of the Aave Chan Initiative (ACI), has called for the dissolution of the Ethereum Foundation. This came following a recent transaction suggesting that the Foundation was again looking to sell the ETH top. Ethereum Foundation Should Be Dissolved After Purge And Verge Upgrades In an X (formerly Twitter) post, Zeller remarked that the Ethereum Foundation should be defunded and dissolved once the Purge and Verge upgrades are delivered. The crypto founder suggested that the Foundation’s budget was too outrageous, as he questioned what the foundation needed an annual budget of $100 million for. He added that the…
The cryptocurrency market experienced a significant rally last week, providing a much-needed boost for many short-term speculators to turn profits. Bitcoin led the charge, surpassing the $64,790 mark, though the momentum appeared to have eased by the time of writing. This surge was mirrored across the altcoin landscape, with several cryptocurrencies, including TRON, Avalanche (AVAX), and Chainlink (LINK), recording impressive gains ranging from 20% to 30% within just seven days. Despite these gains among widespread altcoins, Bitcoin continues to exert dominance over the entire market. Bitcoin Increases Dominance: What Does It Mean For Altcoins? The altcoin season has yet to…
Samson Mow, a Bitcoin influencer and the CEO of JAN3, recently made waves with his predictions on the future price of Bitcoin. He shared his outlookᅳbullish for the price trajectory of Bitcoinᅳin a post on the social media site X (formerly Twitter) recently. According to Mow, Bitcoin is at its “sale” moment, telling people that prices below $100,000 are what smart investors want. He quoted, “Any price below $0.1M is still #Bitcoin on sale,” insinuating that when Bitcoin reaches this price, the sale will then come to an end. Bitcoin’s Recent Spike On August 23, 2024, Bitcoin saw one of…
According to a popular crypto analyst on the X platform, the Bitcoin price might be primed for a fresh rally beyond its current all-time high. However, the analyst has identified a crucial resistance level that could determine the fate of the flagship cryptocurrency in the short term. $67,300 Could Prove Pivotal To BTC’s Price — Here’s Why In a new post on X, prominent crypto pundit Ali Martinez has put forward an exciting projection for the price of Bitcoin over the next few weeks. This bullish forecast is based on the MVRV (Market Value to Realized Value) Pricing Bands, which…
A member of the Ethereum Foundation has recently addressed investors’ concerns following a massive ETH transfer by the non-profit organization on Friday. This development is particularly important as this transaction sparked bearish talks in the crypto community especially due to EF’s association with the Ethereum network. $94 Million ETH Transfer Not A Selloff – Ethereum Foundation On Friday, the Ethereum Foundation deposited 35,000 ETH, valued at $93.8 million, on the Kraken exchange leading to much speculation among ETH. These concerns stemmed from the bearish nature of such massive transactions as well as the role of the EF in the Ethereum…
You don’t have to have had your eyes glued to the markets recently to have noticed that Bitcoin ETFs have been dominating the headlines again this week, in every sphere but that of focus on retail investors. In a recent conversation on X, Bitwise CIO Matt Hougan challenged the prevalent belief that financial instruments are a consequence of retail hysteria. He said institutional interest in their kind is sweeping the markets and setting records. Bitcoin ETFs have earned nearly $18 billion since the start of the year. This is impressive considering that the Nasdaq-100 QQQs raised $5 billion in their…
The price of Bitcoin experienced an early weekend surge following Federal Reserve Chairman Jerome Powell’s speech at the Jackson Hole symposium. According to the latest on-chain observation, the announcement of potential interest rate cuts has led to an increase in Bitcoin demand in the past day. BTC Demand Sees Growth In The US — Impact On Price? In a recent post on the X platform, CryptoQuant’s Head of Research Julio Moreno revealed that demand for Bitcoin has been on the rise in the United States in the past 24 hours. This growth came on the back of the Fed disclosing…