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Bitcoin’s stall despite a recent wave of positive crypto news is a cause for concern, one observer said.
The possibility the SEC will approve the conversion of GBTC into an ETF is playing a role, according to analysts.
While overall bitcoin and ether price performance have been strong in 2023, it’s largely been a first quarter story
The Tesla CEO and Twitter owner has been known on occasion to playfully talk about his fondness for the memecoin.
The latest price moves in crypto markets in context for July 19, 2023.
The burned tokens are now permanently destroyed, which makes circulating tokens more valuable if demand increases.
Open interest on XRP-based futures contracts crossed the $1.1 billion mark in the past 24 hours.
The balance held in wallets tied to centralized exchange has surged by 50% in three days, per Glassnode data.
Ether posted nominal gains in the past 24 hours alongside the broader market.
ProShares’ Bitcoin Strategy ETF (BITO) has hit an all-time high bitcoin equivalent exposure of 4,425 BTC.
- 12:43Investment Bank Jefferies: Bitcoin miners are expected to remain profitable in DecemberAccording to CoinDesk, the latest report from investment bank Jefferies shows that due to Bitcoin's price reaching a historic high, miners are expected to continue their profitable trend in December. Data shows that the average price of Bitcoin rose by 31% in November, while network computing power only increased by 4%, with daily income per EH/s reaching $55,649, an increase of 20.7%. Among them, MARA Holdings ranked first in the industry with an installed computing power of 46.1 EH/s and mined 907 Bitcoins in November; CleanSpark ranked second with 33.7 EH/s and produced 622 Bitcoins. U.S.-listed mining companies accounted for up to 24.7% of total network output; lower winter temperatures can help improve equipment efficiency.
- 12:39The proportion of validators in the Ethereum network supporting an increase in the Gas limit has risen to 10%According to Cointelegraph, the Ethereum community is gradually increasing its support for raising the Gas limit, with the proportion of validators supporting it rising from 1% a year ago to 10%. Ethereum core developer Eric Connor and former MakerDAO smart contract head Mariano Conti launched the "Pump The Gas" website in March, advocating for raising the Gas limit to 40 million to reduce transaction costs by 15%-33%. They are calling on stakers, client teams, and communities to jointly promote this change. In December, researcher Justin Drake configured his validator for a gas limit of 36 million in further support of this proposal. Emmanuel Awosika, Creative Director at 2077 Collective also pointed out that current gas limits restrict deployment of high-demand applications. However, some people have expressed concerns that raising the Gas limit could jeopardize network stability and security. Toni Wahrstätter from Ethereum Foundation has issued warnings about this.
- 12:38Craig Wright faces two years in prison for contempt of court caseAccording to CoinDesk, Craig Wright, who once impersonated the anonymous founder of Bitcoin, Satoshi Nakamoto, has been brought back to court. This time, the Cryptocurrency Open Patent Alliance (COPA) is debating a lawsuit filed by Wright in October over intellectual property related to the Bitcoin system worth 900 million pounds (about 1.1 billion dollars), questioning whether it constitutes contempt of court. Previously in March, a judge had explicitly prohibited him from suing over his claim to be Satoshi Nakamoto. The two-day trial is expected to conclude later on Thursday with COPA seeking imprisonment for Wright. The alliance has received support from various parties including Twitter founder Jack Dorsey and cryptocurrency exchange Coinbase. In its core argument, COPA pointed out: "We propose that the court orders preliminary imprisonment for Wright for 18 months if he fails to mitigate his contempt of court by immediately ceasing violation of court orders; an additional six months' imprisonment will be added." Court documents have detailed this content. In March, Judge James Mellor ruled that Wright was not Satoshi Nakamoto. Subsequently, Mellor issued a court order prohibiting Wright from filing lawsuits on this claim in the UK and other jurisdictions.
