The recent volatility in the cryptocurrency market has once again brought into focus the unpredictable nature of digital assets. With the total crypto market capitalization surpassing $2 trillion, only to plummet by $500 billion in less than a week, investors have been left reeling from the rapid ups and downs. The figures paint a picture
Crypto
Following a significant market crash that caused Ethereum to tumble 23% in less than 24 hours, U.S. spot Ethereum ETFs experienced a positive day of inflows. On August 5th, the total inflow for the nine newly launched spot ETH ETFs was $49 million, marking its second-highest inflow day since their introduction. This surge suggests that
Marathon Digital (MARA) recently reported a second-quarter revenue of $145.1 million, which was below Wall Street’s expectations of $157.9 million. This 9% shortfall was attributed to operational challenges faced by the company, including unexpected equipment failures, transmission line maintenance at its Ellendale site, an increased global hash rate, and the impact of the recent halving
During the second quarter of this year, Riot Platforms experienced a significant net loss of $84.4 million, compared to $27.4 million in the same quarter of the previous year. This widened loss can be attributed to the ongoing impact of April’s Bitcoin halving. The company reported a total revenue of $70 million in the second
Senator Cynthia Lummis of Wyoming recently introduced a groundbreaking Bitcoin bill, heralding it as a pivotal moment in history akin to the Louisiana Purchase. The proposed legislation, known as the ‘Bitcoin Act,’ aims to bolster the U.S. government’s holdings by adding 1 million BTC over the course of five years. This move is designed to
In July, the total stablecoin market capitalization experienced a growth of 2.11%, reaching an impressive $164 billion, as reported by CCData. This continuous upward trend has been ongoing for the past ten months, with major stablecoins increasing their market dominance to 6.93%. Tether, the leading stablecoin in terms of market cap, saw a 1.61% increase
The cryptocurrency market experienced significant turbulence this past week, with Bitcoin plummeting by ten thousand dollars within a matter of days. The rollercoaster ride began with a promising start as Bitcoin surged by $3,000 on Monday, reaching $70,000 for the first time in months. This sudden upward movement was attributed to remarks made by former
Recent developments in the cryptocurrency market, particularly concerning Bitcoin, have left investors and enthusiasts reeling. The price of Bitcoin has taken a significant hit, dropping below $60,000 for the first time in weeks. This downward trend has also impacted altcoins, with Ethereum (ETH), Solana (SOL), Dogecoin (DOGE), and Bitcoin Cash (BCH) all experiencing notable losses.
California’s Department of Motor Vehicles (DMV) has taken a significant step towards modernization by digitizing 42 million car titles using the Avalanche (AVAX) network. This collaboration with software development firm Oxhead Alpha aims to streamline the state’s title transfer process, eliminating the need for in-person office visits. The upcoming mobile application, set to launch early
Nader Al-Naji has found himself in hot water with both the US Securities and Exchange Commission (SEC) and the Department of Justice (DOJ) for allegedly orchestrating a fraudulent crypto asset scheme involving BitClout and its native token BTCLT. The allegations state that Al-Naji raised a staggering $257 million through unregistered offers and sales of BTCLT
