Crypto

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Bitcoin Miners Log Second Highest Monthly Revenue in April, Despite Falling Hash Value

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In April, bitcoin miners amassed the second-highest monthly revenue of the past year, following the unprecedented earnings in March. In total, they collected $1.79 billion, which, although $220 million less than the previous month, still exceeded the revenues of December 2023, which totaled $1.56 billion. Bitcoin Miners Recorded Strong Revenue Last Month On May 1, … Read more

Federal Reserve Holds Rates Steady Amid Inflation Concerns; Outlook Remains ‘Uncertain’

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On Wednesday, May 1, 2024, the U.S. Federal Reserve chose to maintain the benchmark interest rates at their highest in 23 years. The Federal Open Market Committee (FOMC) members noted that although inflation has subsided, it still “remains elevated.” No Change in Federal Funds Rate; Fed Continues Watchful Eye on Inflation Risks On Wednesday, the … Read more

NFT Sales Dip Over 31% in April; Ethereum, Solana Experience Sharp Declines

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Sales of non-fungible tokens (NFTs) experienced a 31.26% decline in April from the revenues recorded in March. Last month, statistics show that NFT transactions across several markets totaled approximately $1.15 billion in sales. NFT Revenues Shrink in April, Certain Bitcoin Collections Buck the Trend As April concluded and May commenced, data reveals that NFT sales … Read more

US Spot Bitcoin ETFs Report 5 Straight Days of Outflows, Totaling $635 Million

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On Tuesday, U.S. spot bitcoin exchange-traded funds (ETFs) registered their fifth consecutive day of net withdrawals, documenting a substantial $161.6 million in negative outflows. Over the last two days, Grayscale’s Bitcoin Trust (GBTC) has offloaded 1,731.56 BTC, diminishing its reserves to 296,713.90 BTC. Bitcoin ETFs Continue to See Persistent Outflows Since April 24, 2024, U.S. … Read more

Crypto Market Downturn Hits Coinbase, Microstrategy, and Mining Stocks Hard

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During the widespread downturn in the cryptocurrency markets, publicly listed companies within the sector such as Coinbase, Microstrategy, and bitcoin mining enterprises have experienced notable declines in their stock values. Shares of Coinbase have fallen by over 21% since last month, and in the same period, Marathon Digital Holdings’ shares have dropped more than 28% … Read more

Bitcoin Technical Analysis: Uncertainty Looms as Bearish Patterns Persist

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Bitcoin’s technical analysis reveals a protracted bearish trend, reflecting significant selling pressure and resistance to upward movement. With today’s price standing between $57,505 and $58,059 at 8 a.m. ET, oscillators and moving averages predominantly suggest a continuation of this decline. Bitcoin On the BTC/USD daily chart, the trajectory of lower highs and lower lows underscores … Read more

Russian Crypto Exchange Unable to Process Withdrawals; Angry Users Try to Storm Offices

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Approximately 50 users of Beribit, a Russian cryptocurrency exchange, recently tried to storm the company’s Moscow offices to demand their digital assets. Beribit’s management has attributed the delay in processing withdrawal requests to an audit initiated following the discovery of discrepancies in the exchange’s balance sheet. Balance Sheet Discrepancies About 50 users of the Russian … Read more

Blockchair’s Lead Developer Expresses Concerns Over Bitcoin’s Security Budget

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Nikita Zhavoronkov, the lead developer of Blockchair, a cryptocurrency block explorer, has expressed his concerns about Bitcoin’s dwindling security budget. Zhavoronkov stated that the network needs to experience sustained high fees to offset the security impact of the latest halving. After the issuance of Runes following the halving, fees have returned to normal levels. Blockchair’s … Read more

Nigeria Cryptocurrency Clampdown: Central Bank Directs Fintech Firms to Stop Opening New Accounts

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The Central Bank of Nigeria has directed four fintech companies to cease the creation of new accounts, citing their potential use by cryptocurrency traders. An executive from one of the affected fintech companies has associated the Central Bank’s directive with a current audit of the Know Your Customer (KYC) procedures implemented by these firms. Fintech … Read more

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