Bitcoin Miners Face Pressure Post-Halving
The Bitcoin mining industry is feeling the impact of the post-halving adjustments, with transaction fees plummeting, thereby reducing overall revenues and squeezing margins for miners. According to on-chain analytics firm CryptoQuant, miners have begun offloading their Bitcoin holdings in recent weeks, with the cryptocurrency’s price oscillating between $69,000 and $71,000. CryptoQuant analysts have identified an […]
Michael Egorov Reaffirms Commitment to Curve Amidst Financial Setbacks
Michael Egorov, the founder of Curve Finance, has recently faced significant financial turbulence with the liquidation of over 100 million regular CRV tokens due to margin calls. Despite this, Egorov has expressed his unwavering commitment to the project, emphasizing that his exposure is now primarily through vote-escrow (ve) CRV tokens, which align his interests closely […]
Parallel Launches on Epic Games Store, Expands NFT Game Reach
Parallel, a competitive card game that integrates non-fungible tokens (NFTs), made its debut on the Epic Games Store this Wednesday, significantly broadening its potential user base. The Epic Games Store, a major platform in the PC gaming market, boasted a user base of 270 million by the end of 2023, including 75 million monthly active […]
Bitcoin Miners Begin Massive Sell-Off After Revenue Drop
Following the network’s fourth ‘halving’ event, Bitcoin miners have begun to offload substantial amounts of their coin reserves, driven by nearly two months of reduced revenue. According to a recent report from CryptoQuant, a crypto market intelligence firm, the scale of this sell-off has reached a two-month high, with miners transferring approximately 3,000 BTC—valued at […]
Cryptocurrency Reacts to Fed’s Hawkish Stance on Interest Rates
Cryptocurrency markets experienced volatility on Wednesday, influenced by the latest commentary from the Federal Reserve regarding its ongoing battle against inflation. Despite earlier gains driven by an encouraging inflation report, the Fed’s decision to maintain interest rates led to a decline in cryptocurrency prices. The Federal Reserve’s policy meeting left interest rates unchanged, holding the […]
U.S. Spot Bitcoin ETFs Experience Record Outflows
On June 11, U.S. spot Bitcoin ETFs witnessed a dramatic $200 million in net outflows, marking the most significant single-day loss since May 1, when outflows reached $564 million. This sharp decline in investor interest primarily affected the Grayscale Bitcoin Trust (GBTC), which saw the highest net outflows of $121 million, and the Ark Invest […]
Dormant Bitcoin Wallet Awakens, Transfers $535M to Binance
An unknown entity recently reactivated a Bitcoin wallet that had been dormant for over five years, transferring Bitcoin worth approximately $535 million to the cryptocurrency exchange Binance. The transaction occurred on June 11, marking the end of a long period of inactivity since December 2018. Blockchain analytics reveal that the whale, the owner of the […]
Normie Coin Apologizes for Controversial Promotional Video
Normie, a base chain meme coin, has issued a public apology after releasing a promotional video that included a depiction of suicide, sparking significant backlash from the cryptocurrency community. The controversial video, which has since been deleted, featured the Normie character committing suicide, being buried, and then having a conversation with a God-like figure who […]
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