Author: NBTC
The 2024 bitcoin halving event sparked major changes in the mining scene, according to the latest “State of the Network” report by Coin Metrics and analyst Matías Andrade. Battle for Hashrate Dominance The April 2024 halving, which slashed block rewards from 6.25 BTC to 3.125 BTC, severely impacted miner earnings. Coin Metrics’ new report reveals a sharp fall in BTC-denominated revenue per terahash per second (TH/s) of mining power right after the event. However, a thrilling jump in bitcoin’s price to over the $105,000 range cushioned some of the blows, boosting USD-denominated revenue per TH/s. Even so, profitability still lags…
A widely followed crypto analyst says Ethereum (ETH) looks primed to move higher after exhibiting price stability during the last two weeks. In a new strategy session, pseudonymous crypto trader Rekt Capital tells his 519,700 followers on the social media platform X that ETH may be gearing up for more rallies after maintaining $4,000 as support on the weekly chart. “ETH: the post-breakout retest was successful. And indeed, it enabled a challenge into $4,000 (red). In fact, Ethereum has been holding the $4,000 (red) area as new support for the second week in a row. Continued price stability here [means]…
Despite limited progress in reducing inflation in November, federal funds futures show a nearly 100% probability that the Fed will cut its benchmark interest rate by 25 basis points at its Dec. 17-18 meeting, analyst Megan Leonhardt said. Although a December rate cut appears imminent, Leonhardt warned that Fed Chairman Jerome Powell could accompany that decision with guidance suggesting a pause in rate cuts early next year. “Don’t be surprised if next week’s rate cut is combined with Powell’s statement that the Fed will pause rate cuts at the beginning of the year,” Leonhardt added, noting the directional challenges policymakers…
Ripple’s RLUSD stablecoin debuts on Uphold, offering rewards and exclusive benefits, solidifying its role in digital payments and boosting value for XRP investors. Ripple’s RLUSD Launches on Uphold—Where XRP Community Gains More Uphold, a leading Web3 financial platform, has confirmed that Ripple’s new USD-backed stablecoin, RLUSD, will be fully accessible on its platform starting Dec. 18. In addition to its launch, RLUSD will be integrated into Uphold’s Rewards Center program in January 2025, enabling users to earn incentives for holding the stablecoin. Simon McLoughlin, CEO of Uphold, highlighted the company’s enthusiasm for Ripple’s innovation, stating: It’s no secret that we’ve…
The Income Tax Appellate Tribunal, or ITAT, in Jodhpur, India, has ruled that profits from crypto sales prior to the introduction of the Virtual Digital Asset, or VDA, regime in 2022 are to be treated as capital gains. The decision classifies crypto, including Bitcoin, as capital assets, resolving ambiguity that previously surrounded crypto taxation. The ITAT’s decision ensures fair treatment under long-term capital gains laws, reducing the tax burden for early adopters. The ruling derived from a case where an individual purchased Bitcoin worth $6,478 (₹5.05 lakh) in 2015-16 and sold it for $78,8063.84 (₹6.69 crore) in 2020-21. The individual…
Binance, the world’s leading cryptocurrency exchange, has published a blog examining the cultural and thematic evolution of memecoins, focusing on their ability to connect with diverse communities through unique narratives and causes. Binance Highlights Emerging Trends in Memecoin and Decentralized Innovation The blog highlighted various tokens, such as the Chill Guy Memecoin, which has garnered a loyal following for its laid-back attitude. Binance noted that the token resonates with individuals who value a laid-back approach to life, creating a niche but deeply engaged community. Other projects have moved into more innovative areas. For example, RIF and URO were recognized for…
Leading US publicly-listed Bitcoin (BTC) miners from Wall Street are strengthening their financial positions through significant capital raises as Bitcoin trades above $108,000. Industry heavyweights CleanSpark (NASDAQ: CLSK) and Bitfarms (NASDAQ: BITF) announced major financial moves to fuel their expansion plans. CleanSpark Raises $650 Million in Zero-Coupon Note Sale CleanSpark has secured a landmark $650 million zero-coupon convertible senior notes offering, implementing financial engineering to protect shareholder interests. https://t.co/eGYTK4x5eS — CleanSpark Inc. (@CleanSpark_Inc) December 17, 2024 The company structured the deal with capped call transactions at $24.66 per share, representing a 100% premium over its closing price. To further enhance…
Juan Leon, senior investment strategist at Bitwise Asset Management, believes Ethereum is primed for a significant resurgence in 2025. In a blog post published Dec. 17, Leon argues that Ethereum, despite being overshadowed in 2024, stands to gain tremendously from the $100 trillion market for real-world assets. Leon says that while Bitcoin and Solana dominated headlines this year, Ethereum remained largely overlooked. He points out that Bitcoin surged on the back of spot Bitcoin ETFs and historic capital inflows, posting a 130% year-to-date return, while Solana, buoyed by retail-driven meme coin speculation, delivered a 106% gain. In comparison, he says,…
Bitcoin and Ethereum are in the news as the European region has emerged as the global leader in available listed cryptos; the Exchange-Traded Products (ETP) market currently lists 221 unique products and has an AUM of $19.86 billion. This important step confirms rising institutional and investors’ interest in crypto-backed financial products, mainly Bitcoin and Ethereum, which dominate 65% of total Assets Under Management (AUM). Europe leads the global crypto ETP market with 221 listed products and $19.86B in AUM. Key trends:– $695.75M net inflows in 6M– $BTC & $ETH dominate with 65% of AUM.– $SOL has a 12% share– Diversified…
Decentralized Physical Infrastructure Networks (DePin) are transforming the tech by enabling decentralized projects in real-world infrastructure. Here’s what happened in the DePin sector recently: VanEck invested $2.5 million into DAWN to provide decentralized wireless service, IoTeX joined the Blockchain Association for DePin political advocacy, Exabits received $15 million in seed funding, and more. VanEck Invests in DAWN In the first piece of news, VanEck invested in DAWN, a DePin Project. DAWN stands for Decentralized Autonomous Wireless Networks, and the firm is attempting to create a DePin wireless service provider. According to a social media post from VanEck, this “AirBnB for…