Glassnode – Page 2

USDC transfer volume hit 5X USDT’s in fallout from FTX collapse

Although it has a much smaller market cap, on-chain data shows that USDC has a much greater transfer volume compared to its main competitor USDT.

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While Miners Deal With Low BTC Prices, Bitcoin’s Mining Difficulty Target Expected to Increase 3% Higher

Bitcoin’s mining difficulty target is expected to increase on Dec. 19, 2022, after printing the largest reduction recorded in 2022 on Dec. 5, at block height 766,080. During the last 2,016 blocks, Bitcoin’s hashrate has been around 254.3 exahash per second (EH/s), and block intervals have been faster at 9:41 minutes per block. Bitcoin’s Difficulty […]

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Realized losses from FTX collapse peaked at $9B, far below earlier crises

Weekly-realized losses peaked at $20.5 billion when Terra Luna (LUNC) imploded and reached $33 billion when 3AC and Celsius collapsed, according to Chainalysis.

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Bitcoin’s Total Hashrate Slides Lower in December as BTC Miners Struggle for Profits

While bitcoin prices have been lower than the estimated cost of bitcoin production, the network’s hashrate has dropped a great deal since mid-November. Presently, the total hashrate dedicated to the Bitcoin network is coasting along at 236 exahash per second (EH/s) after dropping below the 200 EH/s range six days ago. Bitcoin’s Hashrate Slips Lower […]

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Bitcoin’s Mining Difficulty Expected to Drop Significantly, Retarget Could Be 2022’s Largest Reduction

Bitcoin miners could catch a break in a week or so, on or around Dec. 5, 2022, as the next difficulty retarget is expected to see a significantly large reduction. Estimates show the next difficulty retarget could drop anywhere between 6.13% and 10% lower. Presently, the difficulty change looks as though it could be 2022’s […]

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Onchain Research Shows FTX’s Falling BTC, ETH, Stablecoin Balances ‘Suggest Cracks Had Formed as Far Back as June’

While the analytics firm Nansen published a report that points to the Terra collapse igniting the flames of FTX’s and Alameda Research’s financial problems, onchain data from the intelligence and research firm Glassnode suggests FTX’s “cracks had formed as far back as May-June.” Glassnode’s report highlights a “growing pool of [onchain] data” that shows FTX’s […]

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Bitcoin Miners Face a Squeeze as BTC Production Cost Remains Well Above Spot Market Value

Bitcoin miners are dealing with lots of pressure following the recent difficulty adjustment increase on Nov. 20, 2022, and the leading crypto asset dropping further in value against the U.S. dollar following FTX’s collapse. Statistics recorded this past weekend show that bitcoin’s average cost of production has been a lot higher than bitcoin’s USD value […]

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Bitcoin’s Mining Difficulty Taps a Lifetime High, Glassnode Says BTC Miners Remain ‘Under Immense Pressure’

On Sunday, Nov. 20, 2022, Bitcoin’s difficulty rise erased the recent 0.20% decline recorded two weeks ago, as the difficulty metric rose by 0.51% at block height 764,064. The increase on Sunday has pushed the difficulty rating to another all-time high, from 36.76 trillion to the current 36.95 trillion. Bitcoin Difficulty Reaches All-Time High Nearing […]

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Bitcoin Miner Cleanspark Acquires 3,853 Bitmain-Made BTC Mining Rigs for $5.9 Million

Bitcoin Miner Cleanspark Acquires 3,853 Bitmain BTC Mining Rigs for $5.9 Million

On Nov. 1, 2022, the bitcoin miner Cleanspark revealed it acquired 3,853 Bitmain-brand Antminer S19J Pro mining rigs for $5.9 million. According to Cleanspark, the company has purchased 26,500 bitcoin mining machines since the crypto winter started in June. Cleanspark Purchases 3,853 Antminer S19J Pro Units at $15.50 per Terahash After the bitcoin (BTC) mining […]

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Bitcoin Miner Cleanspark Raises Year-End Outlook by 10%, Firm’s Hashpower Surpasses 5 EH/s

On October 25, the bitcoin mining operation Cleanspark announced that the firm’s hashrate now exceeds 5 exahash per second (EH/s), a milestone achieved more than two months ahead of the company’s original year-end goals. Cleanspark says it now aims to surpass 5.5 EH/s by the year’s end by increasing the miner’s hashrate goal by 10%. […]

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