Why Are Bitcoin Mining Rigs In A Downward Spiral –
Data shows the prices of Bitcoin mining rigs have been going down for a while now as profitability for miners has been observing a shrink.
Data shows the prices of Bitcoin mining rigs have been going down for a while now as profitability for miners has been observing a shrink.
BTC’s price shows signs of consolidating after two days of consecutive gains. The BTC is showing consolidating in the range of $39,000- $42,000 with a positive biasness. On the broader time frame, the technical set-up indicates infringement of the upper side to reach the higher levels in the short term. BTC price trades in a very limited price action still hold near $42,000. On the daily chart, the price forms higher highs and lows formation since January 23. However, the downside risk...
AAVE, the native token on the eponymous DeFi platform, surged on Wednesday as liquidity mining through its latest version went live on Avalanche. The token also successfully tested a support level, and may be poised for more gains. AAVE rose 10% in the last 24 hours, and was trading at an over one-week high of $187.30. The token outpaced an overnight recovery in most other cryptocurrencies. Total value locked (TVL) on the platform also rose 0.2%. The protocol is the fifth-largest...
Bitcoin (BTC) bounced back from a one-month low this week, regaining a key support level as sentiment improved. But forward trades of the token showed little bullish sentiment, indicating that it may be set for more losses. BTC jumped nearly 7% from its April lows, and was last trading around $41,000. A bulk of the token’s gains came from big traders accumulating more BTC at cheaper prices. The token’s wild swings also caused large liquidations in the futures market, particularly in...
ApeCoin (APE), the native token on the Bored Ape NFT collection, rallied to near record highs on Wednesday. A bulk of its rally in the past 24 hours can be attributed to speculation over an announcement by founder Yuga Labs on its upcoming metaverse. APE jumped 23% in the past 24 hours, coming close to a record high of $16.47. Its latest gains saw it overtake Decentraland (MANA) as the largest metaverse token, with a market value of $4.3 billion. Whale...
BTC price extends the gains for the second session in a row. The recent price action suggests the bulls attempt to make a comeback. BTC tested the lows seen in March, double support that could propel the price to swing highs. BTC price trades higher with decent gains as bounces back from the support level. Investors can expect the price to retest the $45,000 level amid sustained buying conditions. The momentum oscillator skewed in the favour of bulls. BTC price as of writing...
Trading app Robinhood said on Tuesday it will acquire UK-based crypto exchange Ziglu. The move comes as the equity trading app looks to expand further in offering cryptocurrency trade. The acquisition also marks Robinhood’s second attempt to expand into the UK since a failed plan to launch a stock trading app in 2020. With Ziglu, Robinhood now owns one of the few crypto firms authorized to operate in Britain. Ziglu offers trading in 11 cryptocurrencies, and also holds a coveted UK...