Ethereum Outshines Bitcoin in Investor Inflows

Ethereum Outshines Bitcoin in Investor Inflows

In A Nutshell Recent data from CoinShares indicates a significant pivot among investors towards Ethereum (ETH) based products over Bitcoin (BTC) ones, following the market’s recovery from the August 5 downturn. The weekly Digital Asset Fund Flows report highlights that ETH funds attracted a staggering $155 million in inflows, constituting about 88% of the total…

SUI Rallies on Grayscale Fund News, Faces $0.96 Barrier

SUI Rallies on Grayscale Fund News, Faces $0.96 Barrier

In A Nutshell The cryptocurrency SUI is currently facing a critical resistance level after experiencing a significant rally, largely fueled by the announcement of Grayscale’s new Sui Fund. Despite the bullish sentiment, a combination of factors including a high volume of long liquidations and resistance at the $0.95 to $0.96 price range pose a challenge…

Bitcoin Hashprice Plummets, Miners Face Crisis

Bitcoin Hashprice Plummets, Miners Face Crisis

In A Nutshell Bitcoin’s hashprice, a critical metric gauging miner revenue, has recently plummeted to its lowest level ever recorded, sparking concerns over the financial viability of Bitcoin mining operations. This downturn coincides with a significant increase in the network’s difficulty, further straining miners’ profitability. As the situation unfolds, the Bitcoin community is on high…

Bitcoin Mining Profit Hits New Low, Report Reveals

Bitcoin Mining Profit Hits New Low, Report Reveals

In A Nutshell The recent report by Blocksbridge highlights a significant downturn in the profitability of Bitcoin mining, with miner hashprice dropping to below $36 per petahash per second (PH/s), marking a new record low. This decline is primarily attributed to the reduced block rewards post-halving and the unprecedented rise in Bitcoin mining difficulty. Despite…

Ethena Labs Boosts Solana Ecosystem with USDe Integration

Ethena Labs Boosts Solana Ecosystem with USDe Integration

In A Nutshell Ethena Labs recently announced its integration with the Solana blockchain, introducing the USDe stablecoin into Solana’s ecosystem. This partnership highlights Solana’s role as a backing asset for USDe, contingent upon governance proposal approval. This development is poised to inject an estimated $2-$3 billion in open interest into the market, broadening the stablecoin’s…

Lamborghini Dives into Web3 with Animoca Brands

Lamborghini Dives into Web3 with Animoca Brands

In A Nutshell Luxury car manufacturer Lamborghini has entered into a strategic partnership with Animoca Brands, a leader in blockchain and Web3 technologies, to pioneer new digital experiences for their customer base. This collaboration is set to merge Lamborghini’s automotive excellence with the latest in digital technologies, aiming to create unparalleled digital experiences through Web3….

Core Scientific’s Stock Surges 12% on Major Hosting Deal

Core Scientific’s Stock Surges 12% on Major Hosting Deal

In A Nutshell Core Scientific’s stock experienced a notable surge of over 12% in early trading on August 6, following the announcement of an expanded hosting deal with CoreWeave. This adjustment will see Core Scientific bolstering its infrastructure to provide an additional 112 megawatts for CoreWeave’s Nvidia GPUs, projecting a substantial $2 billion in revenue…

Solana Memecoins Surge Boosts Demand for Rust Devs

Solana Memecoins Surge Boosts Demand for Rust Devs

In A Nutshell The recent surge in popularity of Solana-based memecoins has led to an increased demand for Rust developers in the cryptocurrency industry. As the primary programming language for developing on the Solana blockchain, Rust’s versatility and efficiency in creating performant distributed systems have positioned it as a highly sought-after skill in the job…

Fed Cuts Rates: Impact on Bitcoin & Crypto Market

Fed Cuts Rates: Impact on Bitcoin & Crypto Market

In A Nutshell The Federal Reserve’s decision to cut interest rates from September to December highlights a pattern of responses to economic challenges. Historically, these actions have significant implications for the financial markets, including cryptocurrencies such as Bitcoin, Solana, and Dogecoin. Understanding the potential effects of these economic policies on digital assets can offer strategic…

Metaplanet Bets Big on Bitcoin with $58.76M Purchase

Metaplanet Bets Big on Bitcoin with $58.76M Purchase

In A Nutshell Metaplanet Inc., a Japanese investment and consulting firm, has announced a significant allocation of 8.5 billion yen (approximately $58.76 million) towards purchasing Bitcoin. This strategic move is made in the wake of raising about 10 billion yen ($69.13 million) through the distribution of the 11th series of stock acquisition rights to its…