Bitfarms Ltd. (NASDAQ/ TSX: BITF), a global vertically integrated Bitcoin (BTC) mining company, has announced its June 2024 production and operations update. The company earned 189 BTC during the month and significantly increased its installed hashrate to 11.4 EH. According to Globe Newswire, /s operates at 10.4 EH/s. Operational Efficiency and Scale Bitfarms has improved its energy efficiency to 25 watts per terahash (w/TH), up 36% year-over-year (Y/Y) and 7.4% month-over-month (M/M). The company’s Chief Mining Officer, Ben Gagnon, highlighted that the upgrades have been completed across all of its facilities in Quebec, increasing hashrate…
Author: Crypto Flexs
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Tether, the world’s largest stablecoin issuer, has launched a new cryptocurrency payment option for Filipino citizens, allowing them to pay their Social Security System (SSS) contributions in USDT.The Philippines’ Social Security System is a state-run social insurance program that provides services to employees in the formal, informal, and private sectors. The SSS is mandated by law and aims to support citizens in difficult times. It currently administers two programs: the Social Security Program and the Employee Compensation Program.Tether Accepts USDT Payments for Government Insurance ProgramsTether has partnered with Uquid, a Web3 shopping and infrastructure company, to enable Filipino citizens to…
The price of Dogwifhat (WIF), a Solana-based Mimecoin project, has surged 16% in a single day, reaching a high of $2.34 on July 1. This is part of a rally that followed a 60% rise in the price of WIF from its low of $1.47 a week ago. WIF/USDT 4-hour price chart. Source: TradingViewThe July WIF outlook remains strong due to the emergence of a rare bullish reversal technical pattern and increased expectations surrounding the application of the Solana Exchange Traded Fund (ETF) in the US.Dogwifhat’s BARR bottom pattern suggests a 25% upside.In particular, Dogwifhat has been drawing a BARR…
US Spot bitcoin BTC +1.81% Exchange-traded funds (ETFs) recorded net outflows of $37.3 million last week for the third week in a row.Grayscale’s Convertible GBTC ETF led the way with $155 million in high-fee fund outflows, while Franklin Templeton’s EZBC and VanEck’s HODL recorded net weekly outflows of $17.3 million and $3.3 million, respectively.The remaining ETFs saw net inflows last week, led by BlackRock’s IBIT, which attracted $82.4 million, all on Friday. Ark Invest’s ARKB was second with $26.3 million in net weekly inflows, while Bitwise’s BITB was third with $15 million. Total net inflows into ETFs since they began…
The top 10 cryptocurrencies underwent major changes this week. A popular meme coin has been knocked out of the top 10 by its competitors. Even the biggest names in the cryptocurrency industry have faced price declines. The top 10 cryptocurrencies, excluding stablecoins, have seen some changes this week, with Shiba Inu and Tron vying for the top 10 spot. As of today, Tron (TRX) has secured the coveted spot after rising 4.3% over the past seven days. This rise coincides with Shiba Inu (SHIB) falling 5.8% over the same period, dropping out of the top 10.Volatile Week in CryptocurrencyAvalanche (AVAX)…
The ‘Magnificent Seven’ stock phenomenon has emerged from the continued consolidation of markets as dominant companies acquire potential competitors and scale efficiently. The group includes Apple (AAPL), Microsoft (MSFT), Alphabet (GOOGL), Meta Platforms (META), Amazon.com (AMZN), Nvidia (NVDA), and Tesla (TSLA), coined by Bank of America analyst Michael Hartnett in April 2023. The stocks have contributed an 88% annualized current shareholder return at the time. Despite Tesla’s recent struggles, the Magnificent Seven still outperforms the broader market. The Roundhill Magnificent Seven ETF (MAGS) has returned 35.8% year-to-date, compared to 15.1% for the S&P 500 (SPX)…
Bitcoin (BTC) is starting the third quarter of 2024 with a bang as it aims to regain lost ground on its way to all-time highs.BTC price strength is tentatively recovering as the combined weekly, monthly, and quarterly price remains at $60,000.With a 4% gain in the past 24 hours as of this writing, Bitcoin has definitely had its work cut out for it to continue its bullish run.After months of consolidation, it has now dropped below the $60,000 mark twice, both times looking like bear traps. Can the bulls really win?Going forward, traders will look to $60,000 as well as…
A trader known for his timely altcoin calls believes the Solana (SOL)-based meme token has started a new bullish trend. Pseudonymous analyst Blunts told his 263,800 followers on social media platform According to analysts, WIF is already showing signs of a bullish reversal in the lower time frames after a sharp correction from its all-time high of $4.83. “I am now starting to feel confident that the bottom of WIF is in sight. There was a nice 70% correction from high to low, not only did it drop to $1.46, but it also formed a long structure over three waves,…
Cryptocurrency exchange Gemini has signed a five-year sponsorship deal with Real Bedford football club, co-owned by Peter McCormack, host of popular podcast What. bitcoin Bitcoin +2.42% did.Gemini said on Monday that the deal is paid upfront in bitcoin and aims to support the club’s success and improve opportunities for local children. A Gemini spokesperson told The Block that this is in addition to the $4.5 million that Winklevoss Capital, the investment firm owned by Gemini founders and twins Tyler and Cameron Winklevoss, invested in the club in April.The April investment makes the Winklevoss twins co-owners of the club alongside McCormack,…
Binance, one of the world’s leading cryptocurrency exchanges, has announced an update to its list of monitoring tags. According to Binance, starting July 1, 2024, the platform will expand its monitoring tags to include 11 new tokens and remove two existing ones.Token added to monitoring tagHere are the tokens to add to your monitoring tags list:Balancer (BAL)Cortex (CTXC)Powerful (CVP)Convex Finance (CVX)DockKava Rend (HARD)IRISNET (IRIS)MovieBloc (MBL)Polka Starter (POLS)Status (SNT)Sun Token (SUN)Tokens removed from monitoring tagsTokens that have their monitoring tags removed are:Enzyme (MLN)Horizen (ZEN)Tokens with monitoring tags are subject to significantly higher volatility and risk compared…