The team behind Bitcoin Ordinals has launched a nonprofit aiming to boost the development of NFTs on Bitcoin. Dubbed the Open Ordinals Institute, the nonprofit will provide funding for Ordinals developers. Continue Reading on Coin Telegraph More
According to an Aug. 9 filing with the United States Securities and Exchange Commission (SEC), B. Riley will have the right, but not the obligation, to purchase a specified number of Bitdeer’s shares over three years. The agreement’s rules include a maximum purchase of 1 million shares or 25% of Bitdeer’s shares traded on the Nasdaq during the purchase period. Continue Reading on Coin Telegraph More
The report showcased minimal advancements across various critical indicators, although the company did not fully meet specific market forecasts.For the quarter that concluded on June 30, 2023, Marathon reported a net loss of $21.3 million, equivalent to $0.13 per share.This marked a substantial improvement compared to the previous year’s period, with a net loss of $212.6 million, or $1.94 per share. Marathon’s quarterly revenues were $81.8 million, higher than the second quarter of 2022 when revenues amounted to $24.9 million. This can be attributed to the 314% increase in Bitcoin (BTC) production, which compensated for a 14% decline in average BTC prices during the current year.The company attained gains amounting to $23.4 million from the sale of Bitcoin during the quarter. The proceeds from selling 63% of the Bitcoin produced were used to cover operational costs. Moreover, Marathon benefited from reduced impairment in the carrying value of digital assets. It amounted to $8.4 million, driven by the upward trend in Bitcoin prices during 2023.Marathon’s adjusted EBITDA for the current year’s second quarter is another turnaround, at $25.6 million compared to a loss of $167.1 million in the previous year. This shift in earnings was underpinned by increased gains, reduced impairment, and improved margins.Fred Thiel, Marathon’s chairman and CEO, pointed out Marathon’s enhanced financial position. He cited the company’s $113.7 million in unrestricted cash and cash equivalents at the quarter’s end, coupled with its growing Bitcoin holdings.This article was originally published on Crypto.news More
As revealed by local police to the Lethbridge Herald newspaper, the police forces are already enjoying access to Chainalysis Reactor software. The program helps to trace cryptocurrency from the point of origin until it’s been deposited on an exchange. Once the trace identifies the platform, police can request the account holder’s information and transaction data to see where the cryptocurrency was sent beyond the exchange. Continue Reading on Coin Telegraph More
Bitcoin (BTC) supply, last active between seven and ten years, has continued to increase since the start of the month, surging to a one-month high amid an observable uptick in social volume and dormant supply.According to data from crypto market intelligence resource Santiment, the BTC supply last active in the seven to ten years has surged to 1.088 million, representing 5.6% of the total circulating supply. The last time the market saw this figure was last month.This notable increase follows a persistent decline from May to July, during which the metric remained relatively low. This decline persisted despite a substantial 27% increase in Bitcoin’s price, with the asset reaching $31,431 in late June.Throughout July, this metric was stuck within a range. However, recent data highlights a discernible uptick, reaching its highest point in a month. This shift could indicate a change in strategy or sentiment among long-term holders of Bitcoin.Further analysis from Santiment unveils more insights into Bitcoin’s dynamics. Interestingly, the dormant circulating supply over the past two years has surged to 5,536, marking a high not seen since mid-July. This dormant supply increase might reflect investors’ move to hold onto their holdings, potentially anticipating future price movements or market developments.Accompanying these trends is the persistent rise in Bitcoin’s social volume, currently standing at 233. The surge in social volume suggests heightened interest and discussion surrounding cryptocurrency, potentially indicating increased retail investor participation and engagement. BTC price, dormant circulation and social volume – Aug. 9 | Source: SantimentHowever, Bitcoin’s path to reclaiming and holding above the $30,000 psychological level has been fraught with challenges. Despite a recent surge that brought the price to $30,244, the cryptocurrency faced strong opposition and eventually closed the day at $29,770. Bitcoin has made modest gains, but its inability to retest the $30,000 level highlights the ongoing struggle to maintain higher price levels.At the time of reporting, Bitcoin is at $29,868, trading below the 50-day moving average (MA) of $29,986 while still above the 200-day MA of $27,026. The interplay of these technical levels underscores the uncertainty in BTC’s current price action and its struggle to establish a definitive direction.This article was originally published on Crypto.news More
With rapidly evolving AI technology, the process of creating deepfake proofs of identity is becoming easier than ever. The concerns about AI-enabled risks in crypto have triggered some prominent industry executives to speak out on the matter.Continue Reading on Coin Telegraph More
Within the report, Coinbase noted that 19% of New York residents who participated in the study own cryptocurrencies. Additionally, one in three New Yorkers agreed that crypto makes the financial system fairer and described it as a “worthwhile investment for the future.“ Continue Reading on Coin Telegraph More
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD trading near $29,800 after a surge during the previous day’s Wall Street trading hours.Continue Reading on Coin Telegraph More
