In an astounding turn of events, a Bitcoin mining device boasting a mere 500 gigahashes per second (Gh/s) managed to successfully mine a block on July 24th. This achievement is nothing short of remarkable considering the slim odds of 1 in 1.1 billion of accomplishing this feat approximately every ten minutes. The device in question,
Crypto
The second day of trading for the spot Ethereum ETFs took a significantly different turn compared to the first day. Over $133 million were withdrawn from these financial vehicles, leading to a massive price drop of 10% for the underlying asset. This reaction in the market confirmed the initial speculation that the approvals of the
The ongoing legal battle between Ripple and the United States Securities and Exchange Commission (SEC) has captured the attention of many in the cryptocurrency world. Despite being in its final trial phase as of April 2024, experts have varied predictions on when a resolution could be reached. Ripple’s CEO has hinted at a potential agreement
Cynthia Lummis recently took a stand against the Biden administration’s proposed 30% excise tax on the energy consumed by Bitcoin miners. She argues that this tax could severely impact the growing Bitcoin mining industry in the U.S., dismissing concerns about environmental pollution and energy grid risks as unfounded. Lummis contends that even if the administration’s
BitcoinOS (BOS) recently achieved a groundbreaking milestone in the world of blockchain by successfully verifying the first-ever zero-knowledge proof (ZKP) on the Bitcoin mainchain. This achievement marks a significant step towards revolutionizing Bitcoin’s scalability and functionality without the need for alterations to its underlying consensus code. The team at BitcoinOS was able to finalize the
The recent repayments initiated by Mt. Gox to creditors affected by the 2014 hack have brought about an interesting revelation in the crypto market. Contrary to initial concerns about a potential market dump, it has been observed that creditors on Kraken have shown a strong “hodling” sentiment. This is evident from the significant increase in
Ethereum’s price has been experiencing a period of consolidation above the 100 and 200-day moving averages, signaling a bullish trend in the market. The recent breakthrough above the critical 100-day moving average at $3,354 has led to a phase of sideways fluctuation, indicating a balance between buyers and sellers. However, with the introduction of spot
Shiba Inu (SHIB) has experienced a significant drop of 13% over the past week, causing concern among analysts and investors alike. This downward trend has led some experts to speculate that the price of SHIB could continue to decline in the short term. One analyst pointed out that SHIB’s valuation is currently in a “neutral
The introduction of spot Ethereum ETFs in the United States marked a significant milestone in the world of crypto trading. On July 23rd, Grayscale’s Ethereum Trust (ETHE) was converted into an ETF, only to experience a substantial loss of $484 million on its first day of trading. This outcome paralleled the fate of Grayscale’s Bitcoin
In early July, the Coinbase premium turned positive, indicating a potential resurgence of institutional interest in Bitcoin. The difference between hourly bitcoin prices on Coinbase’s BTC-USD pair and Binance’s BTC-USDT pair is a crucial indicator of institutional sentiment in the cryptocurrency market. Analysts, such as David Lawant, have highlighted the significance of the Coinbase premium