Monthly archives: August 2024

Metaverse land prices have fallen nearly 95% from their peak values, according to a CoinGecko report. In 2024, the cost of metaverse lands ranged between 0.08 ETH and 1.88 ETH, representing an average 72% drop from their all-time high. Over the years, the price drops compared to their peaks were 34% from 2023 and 55% …

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Onchain Highlights DEFINITION: The 30d change of the supply held in miner addresses. Bitcoin miner net position change reveals continuous net selling in 2024. Analyzing the data from Glassnode, the miner net position has predominantly shown red bars, indicating a persistent trend of miners offloading their holdings. However, selling has started to decline since April. …

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MicroStrategy executive chair Michael Saylor disclosed in an interview on Aug. 7 that his personal Bitcoin holdings are worth over $1 billion, placing him among the elite group of BTC “whale hodlers.” During the Aug. 7 interview on “Bloomberg Open Interest,” Saylor addressed concerns about Bitcoin mining’s environmental impact while passionately defending the digital asset’s …

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The court has levied a $125 million fine on Ripple in the lawsuit filed by the US Securities and Exchange Commission (SEC), ending the four-year-long dispute. XRP’s price leaped 18% in minutes after the news broke and was trading at $0.61 as of press time, based on CryptoSlate data. District Judge Analisa Torres from the …

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Spot Ethereum (ETH) exchange-traded funds (ETFs) registered $98.4 million in inflows on Aug. 6, the second largest inflow since the funds began trading in July, based on Farside Investors’ data. Notably, this was the second consecutive day of inflows for spot Ethereum ETFs traded in the US, amounting to $147.2 million. BlackRock’s ETHA assets under …

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Ethena Labs has expanded its “synthetic dollar” USDe to the Solana blockchain and revealed intentions to add the SOL token as a backing asset for the stablecoin, according to an Aug. 7 statement. USDe’s integration with Solana was achieved through LayerZero’s omnichannel fungible token (OFT). Ethena Labs noted that over 90% of Solana’s $3.5 billion …

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Republican presidential candidate Donald Trump’s chances of winning the 2024 US Presidential Election have declined on Polymarket, marking their lowest level since May. The former President’s probability of winning now stands at 51%, down from earlier levels. In contrast, Vice President Kamala Harris’ odds have continued rising in the last two weeks and now stand …

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District Judge Analisa Torres has cut the penalty requested by the U.S. Securities and Exchange Commission (SEC) in the case against Ripple Labs over XRP by 94%. The court partially granted the SEC’s motion for remedies against Ripple, imposing a $125 million civil penalty. “This is a victory for Ripple, the industry, and the rule …

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On Wednesday, at approximately 4:11 p.m. EDT, bitcoin’s value against the U.S. dollar stood at $54,709 per unit, reflecting a 3.41% decrease over the preceding 24 hours. Concurrently, in South Korea, the price of bitcoin was $57,027 per coin, representing a 4.23% premium. According to data from cryptoquant.com, the South Korean premium has seen an …

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Jim Rickards, a U.S. economist and best-selling author of the book “Currency Wars,” has detailed the opportunity that gold presents during pronounced stock market drops. Rickards, who has predicted a tremendous rise in gold prices in the next two years, stated that strong hands expect gold to reach a bottom and jump in “with both …

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On Wednesday, Ethena Labs, the team responsible for the yield-bearing stablecoin project USDE, revealed its expansion to the Solana blockchain. This move brings USDE to the distributed ledger, with SOL now also being used as part of the stablecoin’s reserve backing. USDE Stablecoin Project Extends to Solana, Includes SOL Backing Despite witnessing redemptions totaling around …

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On Aug. 7, 2024, bitcoin’s price moved within a 24-hour range between $55,742 and $57,607. This lower price bracket has significantly reduced bitcoin mining revenue, causing the estimated daily value of 1 petahash per second (PH/s), also referred to as the hashprice, to drop below $36 two days prior. Miners Grapple With Unprecedented Low Hashprice …

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Donald Trump Jr., the eldest child of the former 45th president, took to social media on Wednesday to declare that decentralized finance (defi) represents the future of the financial world. “We’re about to shake up the crypto world with something HUGE,” Trump Jr. announced on X, emphasizing, “Decentralized finance is the future—don’t get left behind.” …

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