The cryptocurrency market has always been volatile, and Ethereum (ETH) has been no exception to the challenges. Despite being the second-largest cryptocurrency, ETH has been facing significant headwinds lately. According to crypto analyst Ali Martinez, some of the largest Ethereum whales, who hold over 10,000 ETH, have been consistently selling their tokens over the past
The Nigerian Federal Inland Revenue Service (FIRS) is taking steps to introduce new legislation to tax the rapidly growing crypto sector within the country. This decision was announced by FIRS Executive Chairman Zacch Adedeji during a session with the National Assembly’s Finance Committees. The main goal of this new regulation is to boost economic growth
Cardano, once a prominent player in the cryptocurrency market, has seen a significant decline in its position. This decline can be attributed to various factors, including its reliance on off-chain components, low network activity, and fierce competition from other cryptocurrencies such as Ethereum and Solana. The inability of Cardano to keep up with its faster
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Hut 8 Corp. recently revealed its financial results for the second quarter of 2024, and it was not all good news for the leading North American Bitcoin miner. Despite experiencing a notable 72% year-over-year revenue increase to $35.2 million, the company still reported a substantial net loss of $71.9 million. This significant loss was primarily
TeraWulf faced a significant setback in the second quarter of 2024 with a 21% decrease in BTC production compared to the same period in 2023. This decline in production can have serious implications for the company’s revenue and overall performance. It is imperative for TeraWulf to address the reasons behind this decrease and take corrective
Norway, with a population of nearly 5.5 million, has made headlines with its significant investments in Bitcoin. The government’s investments for its citizens total some $1.7 trillion, with a portion allocated to Bitcoin stocks. In fact, Norway now indirectly owns 2,446 BTC through its investments in crypto stocks, marking a bullish move for the cryptocurrency.
Intersect, the organization overseeing the Cardano blockchain’s development, has issued an urgent call for decentralized application projects on the blockchain to hasten their preparations for Chang Upgrade #1. This call comes as more than 80% of stake pool operators on Cardano (ADA) have already moved to the latest validator node, 9.1.0. However, for the success
Ethereum has been facing challenges in keeping up with other cryptocurrencies such as Bitcoin and Solana. It has experienced a decline of 47% against Bitcoin and has been outperformed by Solana by 6.8x since early 2023. The reasons for this underperformance are debated, but some key factors include the easier narrative of “digital gold” around
A recent ruling by the Dubai Court of First Instance has set a precedent by recognizing cryptocurrencies as a legitimate mode of salary payment in the United Arab Emirates. This landmark decision has significant implications for employment contracts in the region, highlighting the growing adoption of digital assets such as EcoWatt tokens (EWT) in the
