Binance.US delists 40 trading pairs, pauses OTC trading
Binance.US is delisting advanced trading pairs for coins such as AAVE, BCH and MKR on June 8. The 40 coins being delisted are for advanced trading pairs of USDT, BTC and BUSD. Binance.US has also paused its OTC trading, but says withdrawals and deposits remain open. Binance.US, the US-based subsidiary of the world’s largest cryptocurrency […]
Bitcoin mining difficulty hits all-time high, above 50 trillion hashes
Key Takeaways Bitcoin mining difficulty has surpassed 50 trillion hashes for the first time ever Higher difficulty means more competition and less profit for miners, but also more security for the Bitcoin network Higher mining difficulty means greater energy input required to mine Bitcoin, meaning greater cost for miners Mining stocks have underperformed Bitcoin significantly […]
Bitcoin network hash rate hit a record high in May
Bitcoin network activity climbed for the fifth month straight. Mining difficulty and transaction fee also climbed in May. The world’s largest cryptocurrency lost about 8.0% last month. Bitcoin may have lost about 8.0% last month on macro uncertainty but the network activity remained incredibly strong. JPMorgan analyst expects a slowdown in hash rate In May, […]
Michael Novogratz says Bitcoin will soon be ‘off to the races’
Bitcoin ended May down 8.0% – its worth month since November. Galaxy Digital CEO Michael Novogratz is still bullish on BTC. He explained why this morning on CNBC’s “Squawk Box”. Bitcoin just had its worst month since late last year but Michael Novogratz – the Chief Executive of Galaxy Digital is keeping optimistic on the […]
Report: Bitcoin mining stocks – extreme volatility and underperforming Bitcoin
Key Takeaways Bitcoin mining stocks have traded with significantly more volatility than Bitcoin itself Mining stocks have underperformed, as rising energy costs and increased competition has cut into profits Miners also overleveraged during the pandemic, purchasing new equipment with debt and holding onto Bitcoin stashes as prices fell Fees on the network rose with the […]
JPMorgan analyst sees a ‘conditional’ upside to $45,000 in Bitcoin
Nikolaos Panigirtzoglou says BTC should be trading at $45,000. His forecast is based on gold that’s currently near the $2,000 level. Despite recent weakness, Bitcoin is up more than 60% year-to-date. Nikolaos Panigirtzoglou – a JPMorgan analyst remains bullish on Bitcoin even though it has taken a hit in recent weeks. A gold-based forecast for […]
MicroStrategy better than Coinbase for crypto exposure: Berenberg
Berenberg analysts sees upside in MicroStrategy to $340. They explain their bullish view in a recent research note. Coinbase stock has a “hold” rating only at Berenberg. MicroStrategy Inc is a better pick for exposure to cryptocurrencies than Coinbase Global Inc, as per the Berenberg analysts. MicroStrategy stock has upside to $340 Mark Palmer and […]
Why is the crypto market up today? Imminent debt ceiling vote boosts the market
Key takeaways The cryptocurrency market is up by more than 2% today after underperforming for the best part of May. Bitcoin topped the $28k mark for the first time this month. The rally comes as President Biden and the House leadership reached an agreement on the debt ceiling. Crypto Market Cap Reaches $1.16 Trillion The […]
68% of Bitcoin supply in loss after BTC price drop
Bitcoin supply in loss has risen to 68%, with 6.67 million BTC under water water at current spot price. Indeed, on-chain data shows 2.71 million BTC has fallen into loss as Bitcoin price dropped from the $31k local top. With sell-side risk ratio approaching its all-time lows, Glassnode analyst James Check says BTC could see […]
SUI price dips below $1, BTC and ETH struggle amid sell-off
Sui (SUI) fell below $1, while Bitcoin and Ethereum dropped below key levels at $26,500 and $1,800 respectively. Altcoins were selling off on Wednesday as the global cryptocurrency market cap dropped to $1.15 trillion, down 2.6% at the time of writing. A confluence of headwinds, including the uncertainty around the US debt ceiling talks and […]