With a Notcoin token launch set and Binance and OKX rewards revealed, Toncoin (TON) is flying high.
DCG's revenue increased by 51% to $229 million in early 2024. Despite Bitcoin fund outflows, Grayscale's revenue remained stable. Continue Reading: Digital Currency Group Sees Revenue Growth in Early 2024
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A legal salvo in Texas put the Securities and Exchange Commission on the defensive, but the agency could bring a lawsuit of its own.
Ripple and XRPL Labs have become founding members of the Derec Alliance, which aims to create an interoperable recovery standard for digital assets. This initiative is expected to simplify the recovery process and encourage widespread adoption by making digital asset management more user-friendly and secure. Derec Alliance Forms to Enhance Blockchain Recovery Solutions The Derec
The crypto community sees a pro-SEC White House veto as drawing a decisive battle line.
Ripple aims to simplify personal data management by joining DeRec. DeRec develops tools to make Web3 more accessible and secure data recovery. Continue Reading: Ripple Joins Decentralized Recovery Alliance to Simplify Personal Data Management
The Bitcoin mining difficulty has experienced a significant decrease, the largest drop observed in the last 18 months. This change is directly tied to fluctuations in the network’s hash rate, which has dipped below 600 EH/s following the recent halving event. The adjustment, which marks a 5.7% fall in mining difficulty, brings the level down to 83.1 trillion, according to data from Bitbo. This most substantial adjustment since December 2022 reflects broader shifts within the Bitcoin mining landscape. At that time, Bitcoin’s price hovered around $17,000, contrasting sharply with current levels. Notably, the mining difficulty, a metric that determines how challenging it is to find a new block, adjusts approximately every two weeks, or every 2016 blocks. This system ensures that block discovery remains consistent at around every 10 minutes, irrespective of the number of miners. Related Reading: Bitcoin Hits ‘Danger Zone’: Peter Schiff Warns Of ‘Do or Die’ Scenario Impact On Miners And Market Dynamics The recent decline in mining difficulty came after a 10% drop in the network’s hash rate from a seven-day moving average of 639.58 EH/s to 581.74 EH/s. This decrease in hash rate led to longer average block times of about 10 minutes and 36 seconds, up from the standard 10 minutes, before the difficulty adjusted downward at block height 842,688. The reduced hash rate also contributed to a new low in the hash price, which fell to roughly $0.049 per TH/s per day. This decline impacts miners’ profitability, as the hash price, a term introduced by Bitcoin mining firm Luxor, represents the earnings a miner can expect per unit of hashing power per day. However, today’s negative difficulty adjustment may provide some relief for miners, making it easier to mine blocks than in the previous two weeks. Bitcoin Market Reactions And Investment Trends The adjustments in mining difficulty and hash rate come when Bitcoin’s price also shows signs of volatility. After reaching a peak above $73,000 in March, the price has fallen by 16% and is now trading around $61,376. This decline mirrors the broader trend in the mining difficulty, suggesting a possible correlation between these metrics. Related Reading: Bitcoin Bears Keeps Pushing, Why BTC Could Turn Bearish Below $60K? Furthermore, the market has observed subdued activity in the spot Bitcoin exchange-traded funds (ETFs). Data from Soso Value indicates minimal net inflows or outflows, with Bitwise Bitcoin ETF being the only issuer that experienced inflows yesterday. On May 8, the total net inflow of Bitcoin spot ETF was $11.5409 million. Grayscale ETF GBTC has no inflows and outflows. Bitwise ETF BITB saw a single-day net inflow of $11.5409 million. The total net asset value of Bitcoin spot ETFs is $51.504 billion. https://t.co/OkjFkXsACa — Wu Blockchain (@WuBlockchain) May 9, 2024 This trend could signify a cooling interest in Bitcoin investments or a shift in investor strategy following the recent price and mining adjustments. Feature image from Unsplash, Chart from TradingView
Blockchain-based online poker platform CoinPoker launched the biggest crypto poker tournament of the year on May 5th – the CSOP Plus (CSOP+). With an incredible total guaranteed prize pool of $25 Million, this tournament promises to be a thrilling and lucrative event for MTT players. CSOP+ Crypto Poker Tournament Series The May tournament series, known
Most voters in US swing states think that the financial system is not fair, according to a new survey commissioned by venture capital firm Digital Currency Group (DCG). The Harris Poll surveyed 1,201 registered voters in Michigan, Ohio, Montana, Pennsylvania, Nevada and Arizona to explore the attitude of the electorate towards crypto and the current The post Majority of Swing State Voters Feel Financial System ‘Favors Elites Over Regular People’: DCG Survey appeared first on The Daily Hodl .