Bitcoin whales have been actively accumulating substantial amounts of the cryptocurrency amid the recent market downturn. According to on-chain activity data, over 404,448 BTC worth approximately $22.8 billion has been transferred to permanent holder addresses in the last 30 days. This significant movement of BTC to long-term holder wallets suggests a strong accumulation phase within
Crypto
Shiba Inu (SHIB) experienced a remarkable surge of 20% on August 6, showcasing its resilience in the volatile cryptocurrency market. Despite facing a significant decline earlier in the week, the meme coin managed to bounce back and reclaim its position as one of the top performers in the industry. The surge in Shiba Inu’s price
In a surprising turn of events, spot Bitcoin exchange-traded funds (ETFs) in the United States have exceeded $5 billion in daily trading volume as of August 5. This milestone is a significant achievement, representing the first time since mid-April that such high trading volume has been recorded. Among the ETFs contributing to this record-breaking volume,
The cryptocurrency market recently experienced a significant dip, with the total market capitalization falling below $2 trillion and wiping out $500 billion within a week. Bitcoin dropped below $50,000, and Ethereum saw a 23% decline in just one day, falling below $2,200. However, despite this sharp decline, the total market cap has since rebounded by
Following a significant market crash that caused Ethereum to plummet by 23% in less than 24 hours, U.S. spot Ethereum ETFs experienced a notable increase in inflows. On August 5, there was an aggregate inflow of $49 million into the nine recently launched spot ETH ETFs. This surge marked the second-highest inflow day since the
Marathon Digital (MARA) recently reported second-quarter revenue of $145.1 million, which fell short of Wall Street’s forecast by approximately 9%. The company attributed this revenue miss to several operational challenges such as unexpected equipment failures, transmission line maintenance, an increased global hash rate, and the impact of the recent halving event on the mining sector.
The stablecoin market saw a 2.11% growth in total market capitalization in July, reaching a staggering $164 billion. This growth trend has been consistent for the past ten months, signaling a steady ascent for major stablecoins. Tether, the leading stablecoin, experienced a 1.61% increase to $116 billion, setting a new all-time high. This indicates Tether’s
In the second quarter of this year, Riot Platforms reported a net loss of $84.4 million, a significant increase from the $27.4 million loss in the same period last year. The widened losses can be attributed to the continued impact of the April Bitcoin halving event. Despite this, Riot still managed to generate a total
Senator Cynthia Lummis from Wyoming has taken a bold step in proposing the ‘Bitcoin Act’ as a means to bolster the U.S. government’s reserves with 1 million BTC over five years. This move has been dubbed as the ‘Louisiana Purchase moment,’ signaling the significance of this decision in the digital age. By recognizing the resilience
The cryptocurrency market faced significant volatility this past week, with Bitcoin experiencing a steep drop of ten thousand dollars from Monday to Sunday morning. The dramatic fluctuation in prices can be largely attributed to factors stemming from the United States. At the beginning of the week, Bitcoin’s price surged by three thousand dollars on Monday,