Cryptocurrency Analysis and News Portal
Grayscale Investment’s Bitcoin Trust (GBTC) has dropped to a new low this week as the bitcoin fund tapped a record 35.18% low against bitcoin spot prices. GBTC’s discount to spot has been underwater for a total of 577 consecutive days. GBTC Discount to NAV Widens by 35% — Fund Reaches an
Read More
While most of the Ethereum community favors switching to a proof-of-stake (PoS) consensus mechanism for validating transactions, some miners are looking to preserve the proof-of-work (PoW) mechanism. If they succeed, the chain will fork, splitting into PoS and PoW chains at the time of the Merge, scheduled for Sept. 13-15. Original
Read More
However, the firm's mining profit was more than halved to C$14.9 million compared to Q1, due to higher power costs and the decline in the price of bitcoin, the company said. The miner's cost of mining each bitcoin grew by 44% to C$25,900, around what it was in the second
Read More
The miner expects to deploy 6.9 EH/s by early 2023. Original Source
Read More
The widening in the discount is seen as a sign of waning optimism for a conversion anytime soon – the opposite of what was happening last week, when some investors were buying GBTC, betting on the fund's chances, said Pablo Jodar, financial products manager at Storm Partners, a tech supplier
Read More
Last year Grayscale applied to the U.S. Securities and Exchange Commission (SEC) to convert GBTC into a spot exchange-traded fund. Many analysts are skeptical the SEC will approve the conversion anytime soon, though some traders have bought GBTC as a way of betting on the prospect of the SEC's
Read More
"Ultimately, after significant discussion and consideration in consultation with outside counsel and other professional advisors, the executive board determined that, in view of all the circumstances, it is in the best interest of the company to wind up operations, liquidate our balance sheet and effectuate an orderly and fair and
Read More
Bitcoin was trading north of the $40,000 levels, as it managed to break above key resistance. The first cryptocurrency by market cap sits at $45,044, at the time of writing, with small losses after a strong rally pushed it high from the lows at $30,000. BTC with minor losses in the
Read More
The Dow Jones Industrial Average rose by as much as 309 points on Monday.Joe Biden has opened up a 14-point lead on Donald Trump in the latest Wall Street Journal/NBC News poll.Although Trump is widely considered to be the better candidate for business, a decisive outcome, one way or another,
Read More
Enterprise Ethereum Alliance (EEA), the business end of the second-largest blockchain, has appointed a new executive director, Daniel C. Burnett. Burnett, who previously worked as a standards architect within Ethereum-focused ConsenSys, wants to widen the EEA’s scope beyond banks and blue chips, to include exchanges. Burnett even aims to embrace the
Read More