Author: MEAOWS
November marked a significant uptick in profitability for Bitcoin miners, driven by both higher Bitcoin prices and increased network activity. However, challenges remain in an increasingly competitive mining landscape. Surge in Bitcoin Mining Revenue Bitcoin miners saw a 24% increase in daily block reward revenues in November, as Bitcoin’s value surged to record highs. According to recent reports, miners earned an average of $52,000 per EH/s (exahash per second) in daily revenue, a notable recovery from prior months. While the overall profit rise is encouraging, the gains still trail pre-halving levels by about 50%. This highlights the ongoing challenges miners…
Bitcoin’s market dynamics are showing signs of positive change, with its illiquid supply reaching an all-time high. This, alongside a significant drop in the amount of Bitcoin held on exchanges, is indicating a shift in investor behavior and suggesting increasing demand for the cryptocurrency. Bitcoin’s Illiquid Supply Surges, Reflecting Long-Term Investor Confidence Recent Glassnode data reveals that the illiquid supply of Bitcoin has now reached a record 14.8 million BTC, accounting for 75% of the total circulating supply. This surge highlights the growing trend of long-term holders who are not actively selling their Bitcoin, signaling stronger confidence in its future…
MicroStrategy, the renowned business intelligence firm, has once again made significant strides in its Bitcoin acquisition strategy. In the week ending December 1, the company purchased an additional 15,400 BTC for a total of $1.5 billion. This brings MicroStrategy’s total Bitcoin holdings to 402,100 BTC, worth approximately $38.2 billion at the current price of $95,000 per Bitcoin. Strategic Bitcoin Purchases Funded by Share Sales MicroStrategy’s latest Bitcoin purchase was financed through the company’s at-the-market program. This method allows the firm to raise capital by selling shares, providing it with the funds needed to further expand its Bitcoin portfolio. The firm’s…
Ether (ETH), the second-largest cryptocurrency by market capitalization, has gained significant attention lately, especially in light of recent ETF inflows. Bernstein, a prominent brokerage firm, believes that Ether’s potential for future growth is stronger than ever, especially as it continues to show signs of outperforming Bitcoin (BTC). Key Factors Driving Ether’s Positive Outlook Despite Ether’s underperformance compared to Bitcoin in 2024, Bernstein suggests that this phase may soon come to an end. According to a report released on Monday, recent inflows into Ether ETFs indicate a shift in sentiment towards ETH, suggesting that it could soon outpace Bitcoin. On Friday,…
XRP has surged more than 20% in the last 24 hours, surpassing Tether (USDT) to become the third-largest cryptocurrency by market capitalization. Meanwhile, Bitcoin (BTC) struggles to break the $100,000 threshold as it faces a significant $384 million sell wall, which may hinder its ability to push past this key resistance level. XRP’s Remarkable Surge and Market Position Over the past 30 days, XRP has surged a staggering 375%, reaching $2.40 per token, while its market capitalization soared to $139 billion, moving it ahead of Tether (USDT) as the third-largest cryptocurrency globally. This explosive growth is a significant milestone for…
Ethereum (ETH) is showing a promising price movement that echoes a bullish setup seen in Bitcoin (BTC) before its record-breaking rally. Supported by increased network activity and significant spot ETF inflows, Ether’s outlook appears increasingly favorable. Ether’s Chart Reveals a Bullish Breakout Ethereum’s three-line break chart—a technical tool that removes short-term price fluctuations—has revealed a bullish reversal. This shift marks the end of an eight-month corrective phase, during which ETH faced consistent lower highs and lower lows. Now, ETH has resumed its broader uptrend that began in October 2023, when prices hovered near $1,500. Such breakouts often lead to strong…
Ethereum (ETH) exchange-traded funds (ETFs) achieved a historic milestone on Friday, attracting $333 million in net inflows. This marks a significant moment for Ethereum as it outperformed Bitcoin (BTC) ETFs, signaling a shift in investor focus toward the second-largest cryptocurrency. Ethereum ETFs Reach All-Time High Inflows On Friday, spot-based Ethereum ETFs in the U.S. reported their largest single-day inflows to date, highlighting growing institutional interest. Data from Farside Investors shows that a total of $332.9 million flowed into Ethereum-based ETFs during the shortened trading session: BlackRock’s iShares Ethereum Trust (ETHA) dominated with a massive $250 million in inflows. Fidelity’s Ethereum…
XRP has regained momentum, achieving a $100 billion market capitalization over the weekend. This milestone comes as Ripple’s RLUSD stablecoin approaches regulatory approval, fueling renewed enthusiasm among investors and traders. XRP Achieves 2018 Price Levels Amid Market Surge XRP’s price skyrocketed to a local high of $1.92, marking its best performance since January 2018 when it briefly touched an all-time high of $3.40. Over the past 7 days, XRP has gained an impressive 30%, while its 30-day performance stands at an extraordinary 300%, outperforming major cryptocurrencies like Bitcoin (BTC) and others. On Saturday alone, XRP recorded a 10% surge in…