Recent data from Cryptoquant researchers indicate that bitcoin demand growth continues to show signs of weakness. Despite this, the report notes that long-term holders have been accumulating bitcoin at unprecedented levels, providing some resilience to the market. Report Shows Bitcoin Demand Craters Amid Weak Market Signals Bitcoin demand has seen a significant decline since early …
Monthly archives: August 2024
Bitcoin price hits $61K, but investors still prefer stocks and bonds right now
Investors balance risk as Bitcoin futures dip, reflecting uncertainty before the Federal Reserve’s September meeting.
Picking winners in the next cycle — Wyoming Blockchain Symposium VC panel
Crypto startup companies attracted $2.7 billion in venture capital funding during the second quarter of 2024.
Harris aide suggests VP will ‘support policies’ for crypto industry growth
The Democratic presidential candidate has been largely silent on digital assets since launching her campaign on July 21.
Malware exploits weak passwords in PostgreSQL for cryptojacking
Up to 800,000 internet-connected databases could be vulnerable to crypto-mining malware that will use their computing capacity.
Coinbase believes young crypto voters will be a deciding factor in the US elections
Coinbase believes that young, pro-crypto voters could play a pivotal role in the 2024 US presidential election and potentially become the deciding factor in who wins. The exchange said in an Aug. 19 blog that recent research highlights that Gen Z and Millennials — who now make up 40% of the electorate, are increasingly aligning …
Senate insiders claim Harris eyeing Gensler for Treasury as DNC skips adding Bitcoin in platform
Vice President Kamala Harris is considering nominating SEC chair Gary Gensler as Treasury Secretary under her administration if elected president, the Washington Reporter reported on Aug. 19, citing “multiple senior Senate staffers.” While Gensler has not publicly expressed interest in leaving his current role, sources indicate that discussions are ongoing, and the possibility of his nomination is …
Ethereum’s 40% post-ETF drop is an expected ‘sell-the-news’ reaction – Bitfinex
Bitfinex analysts said Ethereum’s (ETH) 40% decline following the launch of spot ETH exchange-traded funds (ETFs) in the US is an expected “sell-the-news” reaction. According to the latest edition of the “Bitfinex Alpha” report, Ethereum ETFs are facing substantial challenges as significant outflows continue to weigh heavily on Ether’s performance, exacerbating the asset’s underperformance relative …
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Drift’s BET platform brings prediction markets to Solana blockchain
DeFi protocol Drift has launched a prediction market called BET on the Solana blockchain, according to an Aug. 19 statement. Drift Protocol co-founder Cindy Leow likened BET’s prediction market to perpetual trading. She explained that, just as perpetual traders bet on potential price changes in crypto, prediction markets allow for financial stakes in the outcomes …
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Crypto adoption jumps 6.4% in H1’24 on the back of Bitcoin, Ethereum milestones
The global cryptocurrency market experienced a significant increase in ownership during the first half of the year, according to Crypto.com’s latest market sizing report. The number of owners rose 6.4% to 617 million by June from 580 million at the end of 2023. The growth was mainly driven by key developments in the Bitcoin and …
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Greenidge Generation battles New York agency over Dresden power plant permit
Bitcoin miner Greenidge Generation has filed a lawsuit against the New York Department of Environmental Conservation (DEC) over licensing issues. According to an Aug. 15 court filing, the company seeks an injunction after the DEC denied its Title V air permit application for its Dresden power generation and mining facility. The lawsuit The DEC had …
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Bitcoin stolen in $238 million breach fails to get privacy shield, returned to original address
Privacy protocol RAILGUN said the 4,064 Bitcoin stolen in a high-profile security breach on Aug. 19 did not gain any privacy benefits on its platform. The platform clarified that the stolen funds were unable to generate a Private Proof of Identity (POI), resulting in their unshielding and return to the original address. The breach, one …
Financial Analysts Estimate Gold Might Reach $3,000 Propped up by Rate Cuts
Several financial analysts predict that gold prices will continue to gain ground, supported by forecasts that the Federal Reserve will cut interest rates later this year. According to Patrick Yip of American Precious Metals, the $3,000 mark could be reached as soon as next year if geopolitical issues and central bank demand persist. Financial Analysts …
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Tron Triumphs as Cardano Fades—ADA Drops From Crypto’s Top 10
Based on recent market data, the cryptocurrency cardano (ADA) has fallen out of the top ten rankings, making way for tron (TRX) to take its place. ADA has struggled to hold its ground among the leading cryptocurrencies this year, and in the past 30 days alone, it has dropped 23% against the U.S. dollar. Once …
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Bitcoin Miner Greenidge Files Legal Complaint Against New York Regulator, Reports Q2 Earnings
Greenidge Generation Holdings Inc. has initiated legal action against the New York State Department of Environmental Conservation, challenging the denial of its air permit renewal. The company also reported its second-quarter financial results, highlighting cost reductions and ongoing business transformation. Greenidge Generation Challenges New York Permit Denial, Reports Q2 Performance Greenidge Generation Holdings Inc. filed …