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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

Arman Shirinyan Unfortunately for Ethereum holds, on-chain data shows that assets still remain under pressure Following Independence Day in the U.S. on July 4th, traders have pushed the price of the second biggest cryptocurrency on the market to local highs, reaching $1,120. Unfortunately, with the price of Ether going back up, we are seeing disturbing on-chain data appearing on the market. According to Ethereum’s supply on exchanges, we are seeing an intensification of inflows on… Source link

A day after the U.S Independence day, Bitcoin (BTC), the largest cryptocurrency by market capitalization, is up 5% over the past 24 hours and is currently trading at around $20,107, according to data from CoinMarketCap. Ethereum (ETH), the second-largest cryptocurrency, has gained 9% in the last 24 hours and is changing hands for around $1,148. The global cryptocurrency market capitalization is up 5.3% to $910.9 billion in the last 24 hours, suggests data from CoinMarketCap. [BITCOIN PRICE]

So-called “market tourists” are fleeing from Bitcoin (BTC), leaving only long-term investors holding and transacting in the top cryptocurrency, according to blockchain analytics firm Glassnode. In its July 4 Week Onchain report, Glassnode analysts said June saw Bitcoin have one of its worst-performing months in 11 years, with a loss of 37.9%. It added activity on the Bitcoin network is at levels concurrent with the deepest part of the bear market in 2018 and 2019, writing: “The Bitcoin… Source link

Ether rose even more in Monday trading along with several other major altcoins as investors seemed more receptive to risk. The second largest cryptocurrency by market cap, was changing hands at more than $1,150, a nearly 8% gain over the previous day. Among other major cryptos, SOL and SAND jumped more than 9% and 8%, respectively. Source link

Ethereum has continued to enjoy a fair share of dominance among the altcoins. That goes for miners as well. Ether miners in 2021 earned over $3 billion more than their Bitcoin counterparts. However, the positive narrative around ETH miners took a major blow this year. Are miners out? Well, the first thing is the much-anticipated Merge. The Merge would force Ethereum’s $19 billion mining industry to find a new home. This would shift Ethereum’s consensus mechanism from… Source link