Core Scientific, a Texas-based Bitcoin mining company, recently announced the pricing of its increased offering of $400 million in 3.00% convertible senior notes due in 2029. The initial size of the offering was $350 million, which was upsized due to favorable market conditions. Scheduled to settle on August 19, 2024, the notes will be issued
Crypto
The latest data on Ethereum’s Layer 2 ecosystem reveals an unprecedented surge in daily transaction volume. According to recent statistics compiled by Growthepie, the daily transactions across Layer 2 networks reached a staggering 12.42 million on August 12, marking a new all-time high. This exponential growth in transaction volume underscores the rapid advancements in scalability
Amidst the current market downturn, there is a noticeable shift towards HODLing and accumulation among investors in the digital asset market. Glassnode’s recent analysis sheds light on this trend, indicating a growing inclination towards holding onto assets rather than selling in response to volatile market conditions. Following Bitcoin’s all-time high in March, there was a
Bitcoin’s price has been on a wild ride recently, with a massive increase of nearly $13,000 in just a few days. However, this upward momentum was short-lived as bears quickly took control, causing the price to drop back down to under $58,000. The cryptocurrency market has been experiencing significant volatility, making it difficult to predict
Coinbase’s recent comment letter to the US Securities and Exchange Commission (SEC) highlighted several significant flaws in the agency’s cost-benefit analysis of the proposed rule. The letter, penned by Coinbase’s chief legal officer, Paul Grewal, argued that the SEC had failed to adequately assess the rule’s economic impact on efficiency, competition, and capital formation. One
The current market condition has left many new Bitcoin investors facing financial stress. Various metrics suggest a bearish environment, highlighting factors that may increase market volatility, selling pressure, and further price declines. According to a Bitfinex Alpha report, metrics such as the Short-Term Holder MVRV and the standard deviation (SD) of short-term holder Cost-Basis indicate
The liquidators of Three Arrows Capital (3AC) have recently taken legal action against TerraForm Labs, a bankrupt digital assets company co-founded by Do Kwon, in pursuit of a $1.3 billion lawsuit. The lawsuit stems from the allegations that TerraForm Labs manipulated the market for Luna and TerraUSD, resulting in artificially inflated prices for these tokens.
The US spot Ethereum ETFs saw a significant inflow of $4.9 million on Monday. Notably, Grayscale Ethereum Trust (ETHE) did not experience any withdrawals, marking a notable shift since its conversion to an ETF after 14 days of outflows. This positive trend in inflows showcases a growing interest in Ethereum among US investors. Monday’s trading
Sui (SUI) has experienced a remarkable 70% increase in price over the past week, reaching around $1. This surge was primarily attributed to the launch of Grayscale’s Sui Trust, which focused on investing in the underlying asset. The introduction of the Grayscale Bittensor Trust also contributed to the excitement surrounding SUI. Industry experts and analysts
The recent market downturn has presented an opportunity for investors, with Ethereum emerging as the clear winner. Data shows that Ethereum attracted $155 million in inflows over the past week, bringing its year-to-date total to $862 million. This surge can be attributed to the introduction of US spot-based ETFs, which have generated renewed interest in