Category: Crypto

Ethereum 2.0 staking has seen significant growth, and a major milestone has been reached. As such, the deposit contract for staking Ethereum on the Beacon Chain reached an all-time high of 47.36 million ETH this week. Interestingly, this accounts for 33.9% of the entire Ethereum supply. ETH2 Staking Milestone According to the data shared by the crypto analytic platform Santiment, this is a dramatic increase from two years ago when it held only 10.9% of the supply, effectively more than tripling its share. “The ETH2 Beacon Deposit Contract, used for…

The wallet labeled German Government (BKA) on Arkham Intelligence has loaded up 6,000 more Bitcoin worth $354 million in preparation for the next round of BTC sell-offs. So far, 5,853.409 Bitcoin (BTC) has been sent to addresses associated with exchanges such as Coinbase, Kraken, Flow Traders and other unidentified or unconfirmed addresses. The next attempt to offload roughly $342 million worth of BTC has begun. Arkham Intelligence data depicting 6,000 Bitcoin (BTC) entering the wallet labeled German Government (BKA) and the outflows of those funds. Source: Arkham Intelligence Ongoing BTC…

TL;DR Shiba Inu (SHIB) price is up 2%, but some key metrics have dropped. SHIB’s burn rate is among the few rising, surging by 350% and destroying nearly 28 million tokens. SHIB Price Flashes Green The cryptocurrency sector continues to rebound from the crash witnessed a few days ago. Its global market capitalization currently stands at around $2.26 trillion (a 2.7% increase on a daily scale), with Bitcoin (BTC) touching the $59,000 mark and Ethereum (ETH) crossing $3,100. The meme coin sector is also in the green, with Bonk Inu…

On July 9, crypto mining firm TeraWulf announced it paid off its outstanding debt earlier than expected, in a final payment of $77.5 million. Executives for TeraWulf said the debt reduction would allow the company to maximize its resources and focus on the deployment of mining infrastructure, rather than meeting burdensome debt obligations. TeraWulf’s early debt repayment aligns with the company’s plans to maximize shareholder value through organic growth strategies. TeraWulf chief strategy officer Kerri Langlais recently told Cointelegraph that the company was not seeking aggressive expansion through mergers and acquisitions,…

TL;DR Ethereum briefly fell below $3,000 but has since recovered, with bullish predictions targeting prices up to $8,000. Optimism is partly driven by the potential launch of spot ETH ETFs in the US, expected by some industry participants as early as mid-July. The Next Target The cryptocurrency market decline witnessed at the end of last week and the start of the new one has negatively affected Ethereum’s (ETH) price, which briefly tumbled below the $3,000 mark. In the past 24 hours, though, bulls stepped in, pushing the valuation above that…

The United Kingdom’s general election has ended in a landslide victory for the Labour Party, ending 14 years of Conservative Party government. With that comes renewed optimism for positive action and engagement with the cryptocurrency industry. Outgoing Prime Minister Rishi Sunak made much of his “crypto asset hub” ambitions, but industry observers said action to back his promises was sorely lacking. With Labour now in power, the hope for positive action is cautiously renewed. Industry body CryptoUK told Cointelegraph: “We have established strong relationships with Labour MPs and policymakers, and…

It’s finally been a day of positivity within the cryptocurrency market. The total capitalization increased above $2.2 trillion on the back of multiple coins charting substantial recoveries from yesterday’s lows. Bitcoin’s price seems stable, but it’s important to take this calmness with a grain of salt as the sentiment remains uncertain. Bitcoin Solidifies at $57K After a tumultuous day of trading, the Bitcoin price has seemingly found some equilibrium at $57K, where it’s currently trading. Source: TradingView As you can see in the chart above, the price went through a…

Ethereum is set to launch its first-ever hackathon with a slated reward pool of $2 million that “aims to be the largest crowdsourced security audit” of the blockchain’s codebase. The so-called “Attackathon” will see security researchers “actively search for vulnerabilities in the protocol’s code” in a four-week “time-bound audit challenge,” the Ethereum Protocol Security (EPS) research team explained in a July 8 blog post. “They will follow specific rules set for the competition, and only impactful and rule-compliant reports will be rewarded,” it added. The event would start with a…

The recent price weakness triggered by Mt. Gox and the German Government’s selling pressure was likely perceived as a buying opportunity, as evidenced by the inflow of $441 million in digital asset investment products over the past week. During the same period, Exchange Traded Products (ETPs) recorded low volumes of $7.9 billion for the week, which is consistent with the usual summer dip. This also represents a 17% lower participation rate compared to the total market for trusted exchanges. Solana, Ethereum Flips Positive According to the latest edition of CoinShares’…

Bitcoin miner Bitfarms has appointed new leadership, while Riot Platforms has launched a new campaign website as the corporate dispute between the companies continues. According to a July 8 announcement, Bitfarms announced the appointment of Ben Gagnon as its new CEO. Gagnon was previously chief mining officer and has been at the company since 2019. On the same day, Riot launched a new website in connection with its call for a special meeting of Bitfarms shareholders. In this meeting, which is yet to be scheduled, Riot seeks to reconstitute Bitfarms’…