The sudden increase in profitability of the Ethereum (ETH) blockchain in the first quarter of 2024 has raised eyebrows and sparked curiosity among investors and analysts. Not only has the price of ETH soared by nearly 100%, but the blockchain itself has generated a staggering $369 million in profits during this period. This unexpected windfall
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As the cryptocurrency market experiences ongoing fluctuations, the price of Bitcoin has recently surged by 1.7% within a 24-hour timeframe, reaching above the $62,000 mark. Despite this increase, there are warnings from CryptoQuant, a prominent crypto analytics platform, indicating that Bitcoin may face a significant downturn to $52,000 if specific key levels are breached. Market
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A recent legislative bill introduced by US Senators Cynthia Lummis and Kirsten Gillibrand has caused a stir within the crypto industry. The proposed ban on algorithmic stablecoins outlined in the Lummis-Gillibrand Payment Stablecoin Act has been met with criticism and concern from various experts and industry insiders. Former Blockchain Association member Jake Chervinsky labeled the
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Binance recently completed the conversion of its Secure Asset Fund for Users (SAFU) into Circle’s USD Coin (USDC) stablecoin, a move that has raised some eyebrows in the crypto community. By transferring 100% of SAFU’s assets to USDC, Binance claims to enhance the fund’s reliability and stability at $1 billion. While using a trusted, audited,
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Bitcoin miners are currently facing a significant decrease in stock prices as the impending halving approaches. Marathon Digital (MARA) and Riot Blockchain (RIOT), two major players in the Bitcoin mining industry, have seen their stock prices plummet by approximately 53% and 54%, respectively, from their peak values earlier this year in February. CleanSpark (CLSK) experienced
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