Binance-backed pSTAKE Finance launches Bitcoin liquid staking solution

May 15, 2024 Coin Telegraph

pSTAKE is among the most recent protocols making Bitcoin a yield-generating asset with more capital efficiency.

Binance Labs-backed liquid staking protocol pStAKE Finance has unveiled its liquid staking solution for Bitcoin in the latest development for Bitcoin-native decentralized finance (DeFi).

pSTAKE Finance’s solution, built on top of Babylon’s Bitcoin staking protocol, aims to simplify the Bitcoin staking process and offer additional yield generation opportunities for Bitcoin (BTC) holders.

The protocol decided to build Bitcoin-based staking solutions from a fundamental belief in the world’s oldest cryptocurrency, aiming to make it a yield-generating asset, according to Mikhil Pandey, the co-founder and chief strategy officer of pSTAKE Finance.

13 Regions Face Crypto Mining Ban Under Russia’s New Energy Policies

Bitcoin hash rate dips as miners turn off unprofitable ASICs post-halving

May 14, 2024 Coin Telegraph

Bitcoin Halving

Despite the recent block reward halving, only the profitability of Bitcoin miners with less efficient mining rigs is endangered, according to Terawulf's Nazar Khan.

Bitcoin hash rate saw a decline as Bitcoin mining firms have started turning off unprofitable mining rigs after the fourth Bitcoin halving.

The Bitcoin network’s hash rate fell to an over two-month low of 575 exahash per second (EH/s) on May 10 before making a small recovery to the current 586 EH/s, according to data from blockchain.com.

The hash rate drop can be attributed to the fact that “miners are beginning to turn off unprofitable rigs,” according to a May 13 X post by James Butterfill, the head of research at CoinShares.

13 Regions Face Crypto Mining Ban Under Russia’s New Energy Policies

Here’s When Bitcoin Could Bottom Out Based on Historical Precedent, According to Analyst Benjamin Cowen

May 10, 2024 The Daily Hodl

Benjamin Cowen

Widely followed crypto analyst Benjamin Cowen is offering his outlook on when Bitcoin (BTC) could potentially bottom out as the flagship digital asset hovers around $63,000. In a new video update, Cowen tells the 801,000 subscribers of his YouTube channel that the current Bitcoin price action resembles that which followed the crypto king’s second halving […]

The post Here’s When Bitcoin Could Bottom Out Based on Historical Precedent, According to Analyst Benjamin Cowen appeared first on The Daily Hodl.

13 Regions Face Crypto Mining Ban Under Russia’s New Energy Policies

Hut 8’s Bitcoin Mining Output Drops 36% to 148 BTC in April

May 8, 2024 Bitcoin.com

Bitcoin Halving

North American bitcoin miner, Hut 8, said it mined 148 bitcoins, or 36% coins less in April than it did in March. Hut 8 primarily attributes the decrease in the number of mined bitcoins to the relocation of its proprietary miners, which were previously hosted at the Kearney and Granbury sites. The Halving Effect Hut […]

13 Regions Face Crypto Mining Ban Under Russia’s New Energy Policies

Summer will offer ‘perfect opportunity’ for investing in crypto — Arthur Hayes

May 6, 2024 Coin Telegraph

Bitcoin Analysis

The BitMEX co-founder says the current phase of price consolidation is ideal for accumulating crypto before macroeconomic factors trigger the next leg up in the bull market.

According to BitMEX co-founder Arthur Hayes, the next few months will offer an ideal opportunity to accumulate crypto before the next leg up of the bull market kicks in.

“Those people who have fiat and extra cash that want to allocate to crypto, this is the perfect opportunity to do so,” Hayes told Cointelegraph in an exclusive interview, referring to the current rangebound market.

According to Hayes, inflationary monetary policies will play the main role in propelling Bitcoin (BTC) and the broader cryptocurrency market higher later this year.

13 Regions Face Crypto Mining Ban Under Russia’s New Energy Policies

Runes and BRC-20s are just a stepping stone for Bitcoin DeFi

May 6, 2024 Coin Telegraph

Bitcoin

Bitcoin is becoming a yield-generating asset, thanks to new token standards like Runes, which may only be a stepping stone for Bitcoin DeFi.

Bitcoin Runes and BRC-20 tokens may only be a stepping stone in the evolution of Bitcoin-native decentralized finance (DeFi).

The emergence of Runes and Bitcoin DeFi came from a desire to add more utility to the world’s safest blockchain network, according to Rich Rines, a Core DAO contributor building Bitcoin DeFi solutions. Rines told Cointelegraph:

Runes is a new protocol for issuing fungible tokens on the Bitcoin network that launched on April 20, the day of the Bitcoin halving. Runes are part of a wider developer movement known as Bitcoin DeFi, or BTCFi, aiming to add more utility to the Bitcoin network.

13 Regions Face Crypto Mining Ban Under Russia’s New Energy Policies

‘Mr. 100’ buys the Bitcoin dip for the first time since halving — Is the BTC bottom in?

May 2, 2024 Coin Telegraph

Bitcoin Analysis

Mr. 100, an entity previously identified as Upbit, has bought over $147 million worth of Bitcoin for the first time since the halving, suggesting an end to the current retracement.

The Bitcoin whale entity nicknamed “Mr. 100” has bought the Bitcoin (BTC) dip for the first time since the Bitcoin halving. Meanwhile, multiple market analysts suggest that the local Bitcoin bottom may be in as the price bounces from $56,000-lows.

The Mr. 100 whale wallet has added 2,500 BTC worth over $147 million, around the $58,000 mark, according to a May 2 X post by HODL15Capital.

This represents the wallet’s first Bitcoin purchase since April 19, the day before the 2024 Bitcoin halving.

13 Regions Face Crypto Mining Ban Under Russia’s New Energy Policies

US Coal Miner Uses Excess Power to Mine BTC; Earns 61 Coins in Q1 2024

May 2, 2024 Bitcoin.com

Bitcoin Halving

Alliance Resource Partners (ARLP), a coal mining company in the U.S., recently disclosed its use of underutilized electricity loads for bitcoin mining. Cary Marshall, the company’s CFO, revealed that ARLP concluded the first quarter of 2024 with an approximate total of 425 bitcoins. Marshall also stated that during the first quarter, ARLP mined 61 bitcoins […]

13 Regions Face Crypto Mining Ban Under Russia’s New Energy Policies

The reasons Bitcoin price is down 11% since the halving

May 1, 2024 Coin Telegraph

bitcoin etf

Bitcoin’s current price action is “hardly a surprise” given the extraordinary bullish action leading up to the fourth halving.

The Bitcoin (BTC) price has sharply declined over the past few days, which might have triggered some concerns from those who thought Bitcoin would surge after its fourth halving.

The price of Bitcoin has dropped 11% since the fourth Bitcoin halving, which occurred on April 20, at 12:09 am UTC.

On the halving date, Bitcoin traded around $64,000. In the immediate aftermath of halving, Bitcoin saw a short rally, topping above $67,000 on April 22. But since then, Bitcoin has been gradually selling off, tumbling below $57,000 on May 1, according to CoinGecko data.

13 Regions Face Crypto Mining Ban Under Russia’s New Energy Policies

‘No signs’ of Bitcoin miner capitulation despite plummeting revenue

May 1, 2024 Coin Telegraph

Bitcoin Halving

CryptoQuant CEO Ki Young Ji said that despite a drop in Bitcoin mining revenues since the halving, Bitcoin miners haven’t shown any signs of capitulation.

Bitcoin (BTC) miners show no signs of “capitulation” despite their revenue falling to 14-month lows following the halving event in April.

In an April 30 post to X, CryptoQuant CEO Ki Young Ju said that following a drop in revenue to levels post having, Bitcoin miners now face two options, capitulation or await growth in the price of Bitcoin to cover their costs.

Citing the 365-day Puell Multiple chart — a metric that estimates the level of sell pressure from miners — Ju said miners show no signs of capitulation “for now.”

Bitcoin Halving

Share this video