Bear markets in cryptocurrency are known to be painful, but the month of June was especially trying for the crypto faithful as a confluence of factors resulted in the price of Bitcoin (BTC) falling 37.9%, its worst monthly performance since 2011. Bitcoin monthly performance. Source: Glassnode. As a result of the continued widespread weakness, a majority of the so-called Bitcoin “tourists” have now exited the space, leaving only the most dedicated holders remaining, according to blockchain… Source link

The Ethereum Merge, the much anticipated transition from Proof-of-Work to Proof-of-Stake, has negatively impacted miners on the altcoin’s network. Miner revenue was slashed to an alarmingly low level in June. Experts revealed that it is likely miners on the Ethereum network have operated under losses for the last two months.  How to prepare for a significant Terra’s LUNA 2.0 price move A brief technical and on-chain analysis on Terra price. Here, FXStreet’s… Source link

Solana has been gradually creeping up behind Ethereum even before the crypto winter began. The network had grown in popularity among non-fungible token (NFT) and decentralized finance (DeFi) users who had been fleeing Ethereum due to the high cost of transacting on the network. Nevertheless, Ethereum had managed to maintain its lead ahead of Solana. That is until now when the latter has barreled ahead. Solana Transaction Volume Grows One major area in which… Source link

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Many bitcoin miners, who expanded operations in 2021 to capture more profits, are now struggling as the crypto’s price crashed. The bitcoin mining industry’s daily revenue plummeted to $18 million from a peak of $62 million in November, when the largest crypto reached an all-time high, according to a Tuesday note by analysts at Arcane Research.  “The biggest cost historically for bitcoin miners has been their energy source,” Sami Kassab, analyst… Source link

Ethereum miner revenue has dropped to $498 million, an alarmingly low level, in June. A decline in Ethereum price and the fear of being out of business after the Merge lead to steep decline in miner revenue. The Gray Glacier upgrade delayed the difficulty bomb, giving miners another 100 days before the migration to Proof-of-Stake. The Ethereum Merge, the much anticipated transition from Proof-of-Work to Proof-of-Stake, has negatively impacted miners on the… Source link

Bitcoin (BTC) hit daily lows on the July 5 Wall Street open as the U.S. dollar saw a violent surge higher.  BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView USD sets yet another 20-year record Data from Cointelegraph Markets Pro and TradingView showed BTC/USD retreating to $19,281 on Bitstamp as the Independence Day long weekend concluded with a bump. The pair had seen last-minute gains the day prior, these fizzling as the return of Wall Street trading was accompanied by USD… Source link

Ethereum [ETH] is continuing to divide investors with the latest developments on the network. Celebrations of 4 July have activated the bulls in full swing in the crypto market. Bitcoin [BTC] has also bounced back above $20k- setting a reviving precedent for the crypto industry. But where does ETH go from here? ETH for the win The festive greetings have been kind to Ethereum that witnessed an awful ending to Q2. But recent on-chain data has been dividing investors with the… Source link

Lido’s native token LDO has skyrocketed by more than 24% in the last 24 hours, hitting a weekly-high of $0.66 cents.  Meanwhile, Lido’s Staked Ethereum token, called stETH, appears to have grown in value with Ethereum. Both rose a little over 5% overnight with the staked version trading at $1,091 and Ethereum trading at $1,127.  The current gap between Ethereum and stETH does, however, still represent a discrepancy of roughly 3% for Lido’s staked token.  While this is significant,… Source link

Bitcoin (BTC) has a “neutral to positive” outlook despite staying below $20,000, according to ARK Investment Management. In its latest “Bitcoin Monthly” report, the American asset management giant flagged signs that BTC price action is close to bottoming. Wood: “We’re waiting for more capitulation signals” One of Bitcoin’s most vocal supporters, ARK and CEO, Cathie Wood, have stuck with BTC exposure as the market continues to fall from all-time highs. The latest Bitcoin Monthly release… Source link