Company • August 13, 2024 3:01 AM EDT Posted 1 minute earlier ~ in Bitcoin mining company BitDeere saw its shares fall 3.55% on the Nasdaq on Monday after reporting a net loss for the second quarter of this year.According to its latest earnings report, the Singapore-headquartered company reported a net loss of US$17.7 million in the second quarter of this year, compared to US$40.4 million in the same period last year..The miner’s total revenue increased to $99.2 million in the second quarter from $93.8 million in the same period last year. Gross profit increased 50.6% year over year to…
Author: Crypto Flexs
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Helium is partnering with two U.S. carriers. Initial tests have yielded positive results. This move could decentralize network infrastructure. Large mobile network operators that control the infrastructure have long dominated the telecom industry. However, the shift to decentralization is accelerating thanks to new technologies such as the Helium decentralized infrastructure protocol running on the Solana network. Recently, Helium has partnered with two major U.S. carriers to test offloading mobile traffic to the Helium network, a move that, when fully implemented, will shift the network infrastructure to a more distributed model. Major US Telecoms to Leverage Helium’s Distributed InfrastructureThe new partnership…
Felix Pinkston 13 Aug 2024 07:49 NVIDIA’s NVLink and NVSwitch technologies enhance large-scale language model inference, enabling faster and more efficient multi-GPU processing. As large-scale language models (LLMs) rapidly scale, the computing power needed to handle inference requests increases. According to the NVIDIA Technology Blog, multi-GPU computing is essential to meet real-time latency requirements and serve a growing number of users. Benefits of Multi-GPU Computing Even if a large model fits into a single memory of a modern GPU, the speed at which tokens are generated depends on the total compute power available. Combining…
Lido Finance is integrating stETH into the BNB chain, making it the first cross-chain activity. This integration connects $23 billion TVL to BNB using Axelar and Wormhole. Lido remains the leading DeFi protocol with $25.94 billion TVL and 1 million validators. In a groundbreaking decision, the Lido Finance community has voted to integrate stETH (Staked Ethereum) into the BNB chain. The move, which was confirmed on August 9th through an on-chain vote by the Lido Decentralized Autonomous Organization (DAO), marks the first time Lido has connected to a Layer 1 blockchain outside of the Ethereum ecosystem. The approved integration leverages…
Uniswap Labs, the development company behind the Uniswap protocol, has surpassed $50 million in cumulative front-end fees.In October, the protocol introduced a 0.15% fee for user transactions on the web interface and wallet app. The accumulated fees were passed on to Uniswap Labs only, which was the company’s source of revenue. In mid-April, Uniswap Labs increased this fee from 0.15% to 0.25% on the interface.Cumulative fees have increased more than 13-fold so far this year, from $3.7 million on Jan. 1 to more than $50.6 million today.This comes as Uniswap remains the largest DEX by volume, accounting for roughly a…
One trader who has been steadily gaining followers with his altcoin calls believes that one of the Solana (SOL)-based mimecoins is set to see a massive rally. Pseudo-analyst Blunts told his 268,500 followers on social media platform X that dogwifhat (WIF) is about to break out of a falling wedge. This pattern is often considered a bullish reversal signal as it suggests weakening selling momentum. Bluntz says: “It’s hard when WIF starts. Even though it was up 80% in a week, I would have definitely continued buying it if I hadn’t already taken a position. “There is limited time left…
Alvin Lang Aug 13, 2024 05:52 Binance announced that it will convert delisted tokens to USDC by March 2025. Users will have until September 1, 2024 to withdraw the affected tokens. Major cryptocurrency exchange Binance has announced an important update regarding the conversion of some delisted tokens to USD Coin (USDC). According to Binance, the conversion will be based on users’ Binance wallet holdings as of September 2, 2024, 00:00 UTC. Conversion Details The conversion process will be executed using the average token-to-USDC exchange rate from September 2, 2024 to March 1, 2025. The…
Market • August 13, 2024 12:59 AM EDT Posted 1 minute earlier ~ in US Spot Ethereum Ethereum +4.75% Exchange-traded funds (ETFs) saw $4.9 million in inflows on Monday, while the Grayscale Ethereum Trust (ETHE) saw no inflows for the first time since it was converted to an ETF.According to data from SosoValue, net inflows into the nine Ethereum ETFs have reversed after three consecutive days of declines.In particular, Grayscale’s ETHE recorded zero flows after 14 days of outflows. VanEck’s ETHV was the only spot ether ETF to report net outflows of $2.92 million, the first time ETHV has reported…
Popular analyst Michael van de Poppe shares a list of altcoins that could bounce back stronger after the last drop. This comes as the crypto market bounces off the recent correction that saw Bitcoin (BTC) test the $49,000 floor. Portfolio rebalancing is a preferred investment strategy among intentional traders, especially during periods of market volatility. To effectively manage risk, traders should diversify their investments across promising cryptocurrency narratives, establish a clear exit strategy, and maintain a disciplined dollar-cost averaging approach. Best Altcoins Picked by Analysts as Markets Attempt Recovery Van de Poppe observes how altcoins are performing after the correction.…
The latest data from cryptocurrency asset manager CoinShares shows a notable comeback in the crypto market. In its latest ‘Digital Asset Fund Flows Weekly Report’, the asset manager said investor confidence rose significantly last week, with $176 million inflows into digital asset investment products. According to James Butterfill, head of research at CoinShares, the surge in inflows indicates strong and “overall” positive sentiment, with a particular focus on Ethereum-based funds. Related Materials Crypto Fund Flow Analysis Digging deeper into the report, Butterfill said Ethereum products “clearly” stood out, attracting $155 million in total inflows, the highest year-to-date inflows since 2021.…