Author: NBTC
Marathon Digital’s hash rate grew by 142% in Q1 2024, driving a 223% revenue increase to US$165.2 million. Marathon Digital plans to double its hash rate to 50 EH/s by the end of 2024 through new ASIC miners and acquisitions. Riot Platforms and Core Scientific, despite challenges, remain key players, with Riot increasing its revenue to US$79.3 million. Marathon Digital and top rivals are driving a Bitcoin mining boom in 2024, setting new records in North America. With massive expansions and cutting-edge tech, leading the next crypto revolution. Marathon Digital to Lead Bitcoin Mining Growth by 2024 Marathon Digital Holdings…
Matrixport’s recent report highlights bitcoin’s impressive performance, outpacing the Nasdaq Index by 73% over the past two years. The company emphasized on X that Bitcoin is increasingly seen as a strategic investment, offering diversification and risk mitigation in investment portfolios, as well as representing a stake in the future of technology. Bitcoin Outperforms Nasdaq Index Bitcoin has previously shown a correlation with the Nasdaq, a prominent index for U.S. technology companies. While there have been periods of high correlation between the two, the current is notably low, standing at just 9%. This low correlation indicates that bitcoin’s performance is largely…
The Fed’s upcoming decision on interest rates has sparked debate among former officials, with disagreements over whether to cut interest rates by 25 or 50 basis points. Former Cleveland Fed President Loretta Mester recently advocated a more cautious approach to quantitative easing, arguing that there was a solid case for a series of smaller, 25 basis point rate cuts. On the other hand, former St. Louis Fed President James Bullard believes that calls for a 50 basis point cut are overblown. Bullard advocates a 25 basis point cut today, suggesting that a modest cut would be more appropriate in the…
The Shiba Inu team has introduced a burn portal for the Shibarium lawyer-2 solution. Burning tokens to reduce the supply of a certain token is a common industry practice. Ethereum Improvement Proposal (EIP) 1559 was implemented as part of the London hard fork back in 2021 to burn a portion of transaction fees by introducing a flexible block size as a proxy for network demand. The upgrade introduced the so-called “base fee,” a mandatory fee that is determined by the algorithm based on the level of network usage. The base fee is always burned, meaning that it gets destroyed by…
The UK Government and the Financial Conduct Authority (FCA) are working to reform capital markets. They aim to help retail investors make informed investment choices. A key aspect of this effort is replacing the EU-inherited consumer cost disclosure regulation. The goal is to create a new framework tailored to UK markets. The Treasury has proposed replacing the current Packaged Retail and Insurance-based Investment Products (PRIIPs) Regulation with a new system called Consumer Composite Investments (CCIs). Legislation will be introduced to grant the FCA the necessary powers to implement this change. The new CCI regime is designed to address industry concerns…
Large bitcoin holders added over 84,000 BTC in July, the highest since October 2014, per IntoTheBlock. The accumulation was characterized by bargain hunting during the early July price dip. In a display of confidence, large bitcoin (BTC) holders, often adept at timing market moves, boosted their coin stash in July at the fastest pace in years, capitalizing on the two-way price volatility. Large holders, or addresses owning at least 0.1% of BTC’s circulating supply, snapped up over 84K BTC, worth $5.4 billion at the current market price, according to data tracked by blockchain analytics firm IntoTheBlock and TradingView. That’s the…
The Federal Reserve’s latest rate cut has sent Ethereum (ETH) soaring. Trading at $2,428 as of this writing, the altcoin’s value has spiked by over 5% in the past 24 hours. However, it seems not everyone is celebrating. Ethereum spot exchange-traded funds (ETFs)experienced outflows yesterday despite the price surge. Ethereum ETF Holders Remove Their Funds According to data from SosoValue, ETH spot ETFs recorded a net outflow of $9.74 million on Wednesday, bringing the week’s total outflows to $30.36 million. This funds removal occurred despite the broader market rally witnessed after the Federal Reserve cut interest rates by 50 basis…
Former New York Fed President William Dudley called for an aggressive 50 basis point rate cut, arguing that such a move would better align with the Fed’s policy goals. In a recent article, Dudley noted that the Fed’s dual mandate of price stability and maximum employment has reached a point of balance, suggesting that monetary policy should now be neutral, neither encouraging nor restricting economic activity. But Dudley noted that short-term interest rates are running significantly above neutral levels, creating an imbalance that needs to be addressed quickly. Dudley argues that a 50 basis point cut would bring rates closer…
Despite a relatively choppy market, crypto whales still splashed their cash on some altcoins this week. According to BeInCrypto’s analysis, their choices suggest optimism that the broader market could experience a substantial recovery soon. Here is a list of the altcoins crypto whales bought in the second week of August 2024. Litecoin (LTC) First on the list is Litecoin (LTC), developed as a lighter version of Bitcoin (BTC). According to IntoTheBlock, LTC’s Large Holders Netflow saw a substantial increase over the last seven days. Large Holders Netflow tracks the activity of addresses holding 1% or more of the total circulating…
Bitcoin privacy and coin mixing service Samourai is having a big week in court, with both co-founders facing charges of conspiracy to launder money and conspiracy to operate an unlicensed money transmitter in the Southern District of New York. William Lonergan Hill and Keonne Rodriguez are accused by the FBI of facilitating at least $100 million worth of money laundering transactions for illegal operatives. Although the two men appeared together in a US courtroom for the first time this week, there wasn’t much legal action of consequence. Nevertheless, proceedings in another coin mixer case involving are set to have a…