Core Scientific, a Bitcoin mining company based in Texas, has recently announced an increase in its offering to $400 million in 3.00% convertible senior notes due in 2029. Originally set at $350 million, the offering was upsized due to favorable market conditions. The notes are scheduled to settle on August 19, 2024, and will be
Crypto
In a groundbreaking move, the cryptocurrency exchange based in Singapore, Crypto.com, has announced a landmark partnership with the Union of European Football Associations (UEFA) Champions League. This partnership is unlike any other, as Crypto.com will be the official global sponsor of the UEFA Champions League, making it the first and exclusive crypto platform partner for
In the midst of the largest downturn in the current market cycle, investor sentiment within the digital asset market remains uncertain. The fluctuating prices and volatile conditions have left many wondering about the future direction of the market. Despite the overall uncertainty, Glassnode’s analysis reveals a shift towards HODLing and accumulation among investors. Following a
Bitcoin’s price has seen a significant increase in just a day, climbing nearly two thousand dollars, all thanks to the better-than-expected core PPI numbers in the United States. This surge in price has also impacted several altcoins, with TON experiencing a remarkable jump to over $6.7. Bitcoin, the leading cryptocurrency, ended the previous business week
Ethereum’s Layer 2 ecosystem has been seeing a surge in activity recently, with daily transaction volumes hitting new highs. According to data compiled by Growthepie, the daily transactions across these networks reached 12.42 million on August 12, signaling a new peak. This increase in transaction volume highlights the rapid advancements in scalability and points towards
Coinbase, a prominent cryptocurrency exchange, recently submitted a comment letter to the US Securities and Exchange Commission (SEC) highlighting significant flaws in the agency’s cost-benefit analysis of a proposed rule. The letter, written by Coinbase’s chief legal officer, Paul Grewal, criticized the SEC for failing to assess the rule’s economic impact on efficiency, competition, and
The defunct crypto hedge fund, Three Arrows Capital (3AC), has taken legal action against TerraForm Labs, a bankrupt digital assets company co-founded by Do Kwon, in an attempt to recover funds for its creditors. The liquidators of 3AC are alleging that TerraForm Labs manipulated the market for Luna and TerraUSD, resulting in artificially inflated prices
The US spot Ethereum ETFs saw a total inflow of $4.9 million on Monday, showcasing positive investor sentiment towards Ethereum. Grayscale Ethereum Trust (ETHE) notably did not record any withdrawals, marking a significant milestone since its conversion to an ETF. After experiencing 14 days of outflows, ETHE finally saw a pause in this trend. This
The current market conditions have left many new Bitcoin investors facing financial stress. Various metrics point towards a bearish environment, highlighting factors that can worsen market volatility, increase selling pressure, and contribute to further price declines. The Short-Term Holder MVRV (Market Value to Realized Value) and the standard deviation (SD) of the short-term holder Cost-Basis
Sui (SUI) has recently seen a remarkable 125% increase in just one week, largely due to the introduction of Grayscale’s Sui Trust. This surge has placed SUI among the top cryptocurrencies, with a daily increase of over 9% and a weekly surge of 70%, currently trading at approximately $1 according to CoinGecko data. The significant
