Author: NBTC
Bitcoin’s hashrate experienced an uptick this week, briefly surpassing 600 exahash per second (EH/s) and currently stabilizing at 598 EH/s. The hashprice, which represents the expected value of 1 petahash per second (PH/s) of hashing power per day, is about $57 per petahash. Mining Centralization Grows as Bitcoin Hashrate and Revenues Shift As of June 12, 2024, bitcoin (BTC) miners have earned approximately $410.5 million, with $65.62 million attributed to onchain fees. This June presents significant challenges for BTC miners in terms of revenue, and unless bitcoin’s price increases, it may become one of the year’s lowest-earning months. Let’s not…
Moderators on the Roaring Kitty-endorsed subreddit SuperStonk have had to issue a warning to its community to stop doxxing the meme stock influencer and his family. “We’ve noticed a HUGE uptick in pictures of [Roaring Kitty’s] family, including his wife/sibling(s),” the community post read. “They’re totally unrelated to his activity as an investor and streamer, and his family and friends deserve their privacy. Posting their photos… honestly it’s a little creepy and violates their privacy. Don’t do it.” Fans of the GameStop investor are clearly getting carried away. The post explains that the moderators aren’t sure whether the posts are…
Dogecoin (DOGE) saw its price jump by over 4% after a recent tweet from Elon Musk referencing a scene from the 1979 film “Monty Python’s Life of Brian” In his post, Musk humorously depicted the mainstream media as characters from the film, struggling to keep a straight face while reporting on Dogecoin’s status among the top ten cryptocurrencies by market capitalization. The latest nod to Dogecoin spurred a quick, though temporary, increase in its price. pic.twitter.com/wXlbpNU97H — Elon Musk (@elonmusk) April 15, 2024 Dogecoin Market Response The Dogecoin daily chart shows a volatile 24-hour trading period, with the price encountering…
Binance, a leading cryptocurrency exchange, is set to expand its trading options, with new pairs featuring Notcoin (NOT) and Dogwifhat (WIF). The new pairs, which are NOT to Brazil Real and WIF to Euro, will be available for trading tomorrow. Notcoin started as a viral Telegram game on the TON blockchain, attracting a significant user base through a tap-to-earn mining mechanism. Despite initial skepticism, Notcoin has achieved a market capitalization of $1.8 billion and a trading volume of $1 billion. Dogwifhat, a Solana-based meme coin featuring a Shiba Inu with a knitted hat, has seen remarkable growth since its launch…
Bitcoin miner Bitfarms is set to expand its operations in the US by leasing a site in Sharon, Pennsylvania, and deploying miners that can output 600 PH/s of hashrate. In a June 13 statement, the firm said the site’s initial capacity will be 12 megawatts, with plans to expand to 120 MW by 2025. Bitfarms expects to bring the first 12 MW online before the end of this year, with the full capacity operational by the second half of 2025. The project will leverage the Pennsylvania-New Jersey-Maryland Interconnection (PJM) energy market, where energy supply is abundant and renewable sources are…
Weeks after the fourth Bitcoin (BTC) halving event, industry leaders have continued to speculate on what the future holds for the top coin. Joining this conversation is billionaire investor Chamath Palihapitiya, who noted that it is ultimately feasible for the Bitcoin price to hit an all-time high (ATH) of $500,000 in a few years. Theoretical projection based on history According to Chamath Palihapitiya, Bitcoin is known to record major growth about 12 to 18 months after the halving event. In the first month to the third month after each halving, the price of Bitcoin generally records flatter growth. The first…
MicroStrategy’s stock has experienced a remarkable 132% increase this year, outpacing Bitcoin (BTC) and other companies with BTC exposure, as reported by research firm Kaiko. The surge is partially due to a short squeeze and is particularly significant in light of the new spot Bitcoin exchange-traded funds (ETFs) in the US, which provide an easy way to invest in BTC. Despite holding BTC, Tesla and the Block (SQ) have not seen similar gains, with their stocks down by 10% and 29% year-to-date, respectively. These companies have shown a lower correlation with Bitcoin, moving more closely with the broader tech market.…
Prominent blockchain sleuth Whale Alert, which tracks down large cryptocurrency transactions made by both crypto exchanges and retail/institutional investors and holders, has spread the word about a gigantic amount of meme cryptocurrency Dogecoin being transferred from the popular investment platform Robinhood. Over the past 24 hours, it has detected that several hundred million of DOGE has been transferred from the above-mentioned trading and investment platform. 🚨 150,000,000 #DOGE (23,552,001 USD) transferred from #Robinhood to unknown wallethttps://t.co/Z7kyHDma8i — Whale Alert (@whale_alert) April 16, 2024 300 million DOGE absorbed by major whale The above-mentioned data source has published two Twitter/X posts to…
Russia’s stock exchange, the Moscow Exchange (MOEX), has stopped all trading in US dollars and euros. The decision follows a new round of sanctions imposed by the US Treasury Department on Russia. The exchange also confirmed that share trading and money market transactions in these currencies would be permanently halted. The US Treasury sanctioned over 300 entities, aiming to disrupt Russia’s financial infrastructure. These new sanctions are part of a broader strategy to apply pressure on the BRICS nation, which has been moving towards de-dollarizing its economy. MOEX had previously warned that it would halt foreign currency trading if new…
Bitcoin miners are reselling their holdings as BTC struggles to maintain the $70,000 level. Data from CryptoQuant shows that BTC flows from miners’ wallets to exchanges reached a two-month high last weekend, a sell sign. “Miners were competing for 900 BTC per day less than two months ago, but now they are competing for 450 BTC per day across the network,” said HC Wainwright analyst Mike Colonnese. “The mining economy is down 45% from pre-halving levels, so market “We’re not surprised to see some of that sales force.” CryptoQuant data shows that hourly BTC transfers from miners to exchanges reached…