from Bitcoin Bitcoin -4.70% Since the recent halving event on April 19, which halved the reward for mining a new Bitcoin block, the world’s largest cryptocurrency has started showing signs of capitulation as miners have started shutting down underperforming machines and selling Bitcoin to hedge their exposure.According to CryptoQuant, there are a number of signs of miner capitulation, and historically, it has been indicative of a price bottom. According to the data provider’s indicators, miners have been paid “extremely low wages” for most of the period since April.The CryptoQuant report notes that miners’ total daily revenue has dropped from $79…
Author: Crypto Flexs
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Matter Labs has faced backlash over its multi-chain architecture. Matter Labs’ claims of chain validation have been clouded by doubt. In recent weeks, Matter Labs has continued to attract attention among its peers. Flying jabs are commonplace in any competitive space, and the rapidly growing Ethereum Layer 2 ecosystem is no exception, with leading scaling solution providers vying for dominance. Amid the frequent bickering, Matter Labs, the developer of the popular zkSync Era chain and ZK Stack, has often found itself at the center of controversy. On Tuesday, July 2, the company unveiled its vision for Elastic Chain, a multi-chain…
Riot Platforms, Inc. (NASDAQ: RIOT), a leader in the Bitcoin (BTC) mining industry, has released an unaudited production and operations update for June 2024. The company achieved a significant milestone by reaching a distributed hash rate of 22.0 exahashes per second (EH/s), surpassing its Q2 2024 target. According to Riot Platforms, the company produced 255 bitcoins in June 2024. Bitcoin Production and Operations Riot’s Bitcoin production in June 2024 increased significantly month-over-month, totaling 255 BTC, up from 215 BTC in May 2024. However, this is a 45% decrease from June 2023, when the company produced…
Company • July 3, 2024 4:00 PM EDT Posted 1 minute earlier In ~ Asset manager Bitwise has filed a revised Form S-1 for its Ethereum exchange-traded fund (ETF) just days ahead of the July 8 deadline, appearing to indicate the product is close to launch.Bitwise has submitted an updated registration. form Some analysts say the products could be listed within the next two weeks, with an announcement expected on Wednesday. A source close to the situation said the SEC has not said when the final draft will be out, but it could receive approval from the agency by the…
Matthew Siegel, head of digital asset research at investment giant VanEck, says the company’s Solana (SOL) exchange-traded fund (ETF) filing is a bet that Donald Trump will win the presidency. VanEck became the first U.S. company to file an SOL ETF application last week, filing an S-1 registration statement with the U.S. Securities and Exchange Commission (SEC). Bloomberg ETF analyst Eric Balchunas said he thinks the report is a “call option on the POTUS election.” “The knee-jerk reaction here is, ‘Oh, this will never get approved, because there’s no Solana gift.’ I agree, but if there’s a change in POTUS,…
Generative models have revolutionized the AI landscape, with popular applications such as ChatGPT and Stable Diffusion. According to the NVIDIA blog, basic AI models and generative adversarial networks (GANs) have sparked leaps in productivity and creativity. NVIDIA’s GauGAN, an AI model that transforms rough sketches into realistic artwork, is an example of this revolution. GauGAN powers the NVIDIA Canvas app, a cornerstone for creative professionals around the world. How it started GAN is a deep learning model that contains two complementary neural networks, a generator and a discriminator. The generator creates vivid images, and the…
The Bitcoin (BTC) price continued its slump on June 3, and is now trading 20% below its all-time high of $73,835. While the current price action reflects the “apathy and boredom” that dominates the market, on-chain indicators suggest that Bitcoin is gearing up for a “bigger move” in the near future, according to a Glassnode report. Bitcoin Investor Profitability Remains ‘Very Solid’The Bitcoin price has enjoyed an impressive run so far in 2024, with the flagship cryptocurrency hitting a new all-time high on March 5. Since then, Bitcoin has corrected and fallen below $60,000 three times in the past 10…
XRP is down despite its 24-hour volume surging by 19.53% due to ongoing legal issues. While technical patterns suggest a possible uptrend, legal uncertainty has had a major impact on XRP prices. Ripple (XRP) The ongoing legal dispute between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) continues to be a challenge. At the time of writing, XRP was trading at $0.4802, up a modest 0.31% over the past day. CoinMarketCap. Meanwhile, the market cap rose by 0.32% to $26,738,837,168, and XRP ranked 7th. The 24-hour volume surged by 19.53% to $924,854,796. XRP: Market Sentiment Analyst Avon Marks…
An Illinois district judge sided with the U.S. Commodity Futures Trading Commission and ordered an Oregon resident and his company to pay more than $120 million to victims, some of which must go toward restitution, in what the agency called a “Ponzi-like” scam.Oregon state Sam Ikkurty and his company Jafia, LLC made “material misrepresentations.” Judge Mary Rolland of the Northern District of Illinois said in an opinion released Monday but posted by the CFTC on Wednesday that Ikurti and his company committed fraud without registering.It is noteworthy that Judge Rowland stated in his order that cryptocurrencies OHM and Klima are…
Injective (INJ) has released its June Community Update, detailing a series of groundbreaking developments within the Injective ecosystem. June has been a month of activity and innovation, with the community having much to celebrate and look forward to. Injective Builder House Event A key highlight of the update is the announcement of the Injective Builder House, an exclusive event designed to bring together key Injective developers, industry partners, venture capitalists, and more. This one-day event aims to provide participants with hands-on opportunities to begin their builder journey within the Injective ecosystem. Attendees will have the…