Amid continued asset price declines across the cryptocurrency industry, Bitcoin has made a modest recovery after plunging below $60,000 today, and Jump Crypto appears to be liquidating hundreds of millions of dollars worth of crypto (according to blockchain data). Addresses tagged by Arkham Intelligence as belonging to the trading firm Jump Crypto have seen around $300 million inflows since yesterday, August 3rd, with most of the inflow coming from addresses Arkham has tagged as exchange wallets. Likewise, the trading firm’s wallets have seen around $80 million outflows over the same period, with most of the inflows going to exchanges like…
Author: Crypto Flexs
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Many people find Bitcoin mining an attractive way to earn passive income, but traditional mining requires a lot of electricity and expensive equipment. On the other hand, more and more people are opting for Bitcoin cloud mining. Bitcoin cloud mining platforms are very popular because they provide a streamlined way of cryptocurrency mining, allowing users to participate in cryptocurrency mining without having to purchase equipment and build the infrastructure themselves.In this guide, we will review the most popular Bitcoin cloud mining sites available today, along with their features, pros and cons. We will also discuss the costs, potential profits, and…
Lawrence Jengar 02 Aug 2024 06:15 Discover the essential resources you need to understand decentralized energy, cryptocurrencies, and the intersection with the energy grid. Decentralized energy is a new field where cryptocurrency technology intersects with the existing energy grid. This convergence aims to revolutionize the way electricity is generated, stored, and distributed. According to a16z crypto, understanding this domain requires an in-depth look into various resources that cover both the technical and market aspects of decentralized energy. Distributed Energy: An Introduction The concept of decentralized energy involves using blockchain and other distributed ledger technologies…
Genesis Global, a prominent cryptocurrency lender, has successfully completed its bankruptcy restructuring and has begun distributing approximately $4 billion in digital assets and cash to creditors. This significant move comes after months of financial turmoil and legal battles, and represents a major step forward for the company and the broader cryptocurrency industry. The keyword of this article is “Genesis Crypto Restructuring,” which reflects the central theme of the recent development. Restructuring Plan: A Lifeline for Creditors Genesis Global’s restructuring plan, which has been closely watched by the crypto community, provides different recovery ratios for different creditors. Bitcoin creditors will receive…
Despite recent positive economic data, investor and macroeconomic expert George Gammon is expecting a hard landing for the U.S. economy. In an interview with Kitco News’ Michelle Macori, Gammon points out several warning signs in the banking sector and the broader financial environment. Banks See Economic Storm Clouds Ahead: George Gammon’s Warning Gammon (…)
Bitcoin (BTC) is in freefall, having broken below the psychological support level of $60,000 on August 4. Bitcoin has come under heavy selling pressure this week as traders have reduced their risk following the Japanese stock market Nikkei’s plunge of around 6% on August 2. A weaker-than-expected July jobs report on August 2 failed to improve the picture, and the Nasdaq Composite fell into correction territory, falling more than 10% from its all-time high.Despite the recent decline, Bitcoin is still within a large range. It is difficult to predict the direction of the breakout from the range, but Bitcoin whales…
The CEO of USDC issuer Circle has given a “special” long-term outlook for the digital asset industry. In a new interview with investor Anthony Pompliano, Circle CEO Jeremy Allaire says stablecoins will slowly erode the dominance of digital currencies held by banks over the years. Allaire compared stablecoins to online video and banking to traditional cable TV, noting that it took decades for online video to significantly encroach on the latter’s viewing time. “The total addressable market for legal tender is currently around $100 trillion. The vast majority of that is bank-brokered tender, so I believe that these fully reserve…
According to DefiLlama data, the Solana network outperformed Ethereum in monthly decentralized exchange (DEX) trading volume in July.Solana’s DEX trading volume reached $55.8 billion, surpassing Ethereum’s $53.8 billion during the same period. This marks Solana’s second-highest monthly trading volume ever, behind its peak of $60.7 billion in March 2024.Solana DEX Volume (Source: DeFillama)Solana’s volume surge is largely driven by activity on platforms like Raydium, Orca, and Phoenix, while Ethereum’s volume is largely driven by the Uniswap exchange.Despite these numbers, Ethereum is still the leading DeFi platform, with around 61% of the market and $67 billion in locked assets. In comparison,…
James Ding Aug 2, 2024 07:29 Marathon Digital’s Q2 2024 revenue increased 78% to $145.1 million, but the company reported a net loss of $199.7 million due to fair market value adjustments. Marathon Digital Holdings (NASDAQ: MARA) reported a significant increase in revenue for the second quarter of 2024 despite a significant financial loss. According to a press release from Marathon Digital, the company’s revenue increased 78% to $145.1 million from $81.8 million in the second quarter of 2023. Sales growth and financial performance The significant revenue growth was primarily driven by an increase…
It is no longer news that the altcoin season of this cycle has failed to materialize despite clear signs at some point. In the midst of this seemingly bullish cycle, recent data shows that there has been a shift that could have led to the extinction of expectations. One of the defining moments of the altcoin season was the approval of a spot Ethereum ETF. Now that it has happened, altcoins have remained silent. Will that continue? Altcoin season continues to show why it won’t come soon enough. Altcoins appear to have resumed their uptrend a while ago. However, the…