Author: NBTC

Stronghold Digital Mining reported a 47.1% decline in its monthly Bitcoin mining output in May. The firm mined 82 BTC during the first full month following the halving, compared to 155 BTC in April. Meanwhile, revenues for the month came in at $5.2 million, a 46% drop from the previous month. Stronghold explicitly attributed the drop to the halving. The firm said: “The primary driver of the decline was due to the first full month of post-halving operations.” The company also reported an average hash price of $0.052 per TH/s in May, down from 0.095 in April. It attributed the…

Options traders are increasing their bets that Bitcoin will reach a record high by the end of the month, driven by optimism about lowering US interest rates and increased inflows into ETFs. Bitcoin call options with a strike price of $75,000 across all maturities currently have the largest open position, that is, the number of pending contracts. This is followed by strike prices of $100,000 and $80,000, respectively, according to data compiled by Deribit, the largest cryptocurrency options exchange. Call options provide buyers with the right to purchase the underlying asset at a fixed price within a certain period of…

Staking talks continue in Hong Kong, which approved spot Bitcoin and Ethereum ETFs after the USA. At this point, while it is being discussed whether the Hong Kong regulator will allow ETH staking to spot Ethereum ETF issuers, Animoca Brands co-founder Yat Siu said that Hong Kong may allow staking of spot ETH ETFs this year. Speaking to The Block, Yat Siu also said that Hong Kong ETF issuer HashKey is drafting a proposal to add ETH staking to ETFs. “Negotiations are currently ongoing in Hong Kong to add staking functionality to spot Ethereum ETFs. At this point, I think…

XRP Ledger witnessed a substantial surge in activity as the number of XRP locked in Automated Market Maker (AMM) pools experienced a remarkable spike, soaring by almost 15% in just a single day. This surge marks the most significant daily increase since the inception of these pools less than a month ago. Overnight, the quantity of tokens locked in AMM pools, which facilitate liquidity provision for decentralized exchanges, surged from 2.41 million to nearly 2.77 million XRP. Notably, this surge in volume is concentrated in 353 pools, a number steadily growing with each passing day. Leading the pack is Sologenic’s…

Craig Wright faced a decisive blow in the courtroom today as the UK High Court delved into the penalties and injunctive relief in his case against the Crypto Open Patent Alliance (COPA). The proceedings, detailed in live updates from What The Finance on X, saw Jonathan Hough KC presenting a comprehensive argument for severe measures against Wright, emphasizing the harm caused by his fraudulent claims and litigious actions against prominent figures in the crypto community. Jonathan Hough KC stressed the significant chilling effect Wright’s actions had on crypto development, noting that five developers had distanced themselves from projects due to…

According to a recent update from Whale Alert, a dormant pre-mine address containing roughly $21.9 million worth of Ethereum (ETH) has sprung back to life for the first time in nearly nine years. This is the first pre-mine Ethereum address that has been activated this June so far. In May, two such addresses containing $325,535 and $5.9 million, respectively, experienced sudden awakenings. In April, only one address that was created before the launch of the genesis block was activated. For comparison, three such cases were recorded in March. In February, as many as five pre-mined addresses sprung back to life…

The TON Foundation team announced the launch of an incentive program dedicated to cooperation with Tether. According to a recent post, 11 million Toncoin (TON) have been allocated to reward early USDT users in the TON network. The campaign aims to encourage the adoption of the stablecoin online. 🔈 @Tether_to’s USDt now available on #TON!Making cross-border payments INSTANT, FREE, and as EASY as sending a text message for @telegram’s 900M users.TON Foundation offers 11M $TON in incentives 💸💎Check out this thread to learn more! 🧵⬇️ pic.twitter.com/yvqihsuBR9 — TON 💎 (@ton_blockchain) April 19, 2024 “USDt on TON will be accompanied by…

Steve Bannon is finally going to prison, and Miles Guo is trying to get out of jail — although his trial isn’t going particularly well. The once-Donald-Trump-supporting crypto promoters might have hoped for a presidential pardon if Trump’s campaign for the 2024 US Presidency was successful. However, the pair find themselves increasingly estranged from Trump as he focuses elsewhere and, as a result, their hopes of a pardon look to be fading. Any presidential pardon would have been the second for Bannon, who received a pardon in January 2021. Incredibly, Bannon has managed to fumble that once-in-a-lifetime clemency, and yesterday,…

Binance, the world’s leading cryptocurrency exchange, introduced IO.NET (IO) as the 55th project in the Binance Launchpool. IO.NET is a decentralized AI computing and cloud platform that is ready to make a significant impact in the technology world. Binance Launchpool Introduces IO.NET (IO) Starting at 03:00 on June 7, 2024, users will be able to collect IO tokens over a four-day period by staking their BNB and FDUSD in separate pools. The IO.NET web page will be available five hours before Launchpool starts, detailing the staking process and project features. Important Dates and Trading Information: Staking Start Date: June 7,…

Global liquidity has surged to nearly $100 trillion, fueling bullish expectations for the Bitcoin (BTC) market. This unprecedented level of liquidity is seen as a significant boost to Bitcoin’s ongoing bullish rally, with the cryptocurrency now trading at $71,000. A recent analysis by Philip Swift, creator of the on-chain data platform LookIntoBitcoin, reveals that the global M2 money supply stands at $94 trillion — the highest ever recorded. This figure is $3 trillion more than when Bitcoin hit its previous all-time high of $69,000 in late 2021. Since bottoming out at $85 trillion in late 2022, M2 has rebounded by…