The crypto market has made a remarkable recovery after experiencing a significant downturn that saw $500 billion wiped out in less than a week. This drastic decrease caused the total market capitalization to fall to $1.83 trillion on August 5, driven by Bitcoin’s drop below $50,000 and Ethereum’s decline to below $2,200. However, the market
Crypto
Following a significant market crash that saw Ethereum plummet by 23% in less than 24 hours, U.S. spot Ethereum ETFs experienced a surge in inflows. On August 5, aggregate inflows for the nine newly introduced spot ETH ETFs totaled $49 million, marking the second-highest inflow day since their launch. This demonstrates a strong interest from
Senator Cynthia Lummis of Wyoming has introduced a groundbreaking bill known as the Bitcoin Act. This bill proposes the addition of 1 million BTC, valued at approximately $64 billion, to the U.S. government holdings over a period of five years. Senator Lummis has likened this move to the historic Louisiana Purchase, emphasizing the significance of
In the latest financial report, Riot Platforms revealed a staggering net loss of $84.4 million in the second quarter of this year, a significant increase from the $27.4 million loss recorded in the same period last year. These widened losses can be attributed to the ongoing effects of April’s Bitcoin halving, which has had a
In July, the total stablecoin market capitalization experienced a 2.11% growth, reaching an impressive $164 billion. This steady increase marks a ten-month consecutive ascent for major stablecoins, with their market dominance now standing at 6.93%. Tether, the largest stablecoin by market cap, saw a substantial 1.61% increase to $116 billion, setting a new all-time high.
Marathon Digital (MARA) recently released its second-quarter revenue report, which failed to meet Wall Street’s expectations. The company reported revenue of $145.1 million, missing the forecast of $157.9 million by approximately 9%. This revenue miss was attributed to various operational challenges, including unexpected equipment failures, transmission line maintenance at its Ellendale site, an increased global
The cryptocurrency market witnessed significant volatility this past week, with BTC experiencing a drastic drop of ten thousand dollars from Monday to Sunday morning. While there were various factors at play, many of them seemed to be closely tied to events in the United States. The week began on a positive note, with Bitcoin’s price
Over the past few hours, Bitcoin has experienced a significant price drop, falling below the $60,000 mark for the first time in several weeks. This sudden decline has sent shockwaves throughout the cryptocurrency market, with altcoins also suffering losses in response to the crash. Ethereum, for example, has dropped below $2,900, while other popular assets
Recently, the US Securities and Exchange Commission (SEC) and the Department of Justice (DOJ) made headlines by charging Nader Al-Naji with orchestrating a multi-million-dollar fraudulent crypto asset scheme involving the social media platform BitClout and its native token BTCLT. The complaint filed by the securities regulator shed light on Al-Naji’s alleged misdeeds, revealing that he
The California Department of Motor Vehicles (DMV) has taken a significant step towards modernization by digitizing 42 million car titles through the Avalanche (AVAX) network. In partnership with software development firm Oxhead Alpha, this initiative aims to streamline the state’s title transfer process. The new application developed by the DMV will allow users to easily
