1. Coin Metrics: Bitcoin mining status in the second quarter of 2024
This week’s State of the Network report takes another look at the Bitcoin mining landscape, continuing our series of quarterly updates on the state of proof-of-work stakeholders. Since the Bitcoin halving in April, mining profits have been under pressure due to stagnant Bitcoin prices and a depressed fee market, although short periods of on-chain congestion have provided some relief to revenues. Many miners are diversifying beyond pure mining and repositioning themselves as general infrastructure providers in an attempt to secure hosting contracts for energy-intensive artificial intelligence applications. At the same time, chip efficiency improvements continue unabated, forcing miners to consider whether to continue using aging ASIC hardware or to undertake a full-scale upgrade. In this report, we’ll delve into each of these factors, assessing the health of the mining industry beyond Bitcoin price performance. Click to read
2. Chain abstraction: How to solve two major problems in the crypto world
We have tried interoperability, cross-chain, multi-chain, etc., but none of them worked. What’s worse, most of them have brought more fragmentation problems. The answer to these problems is chain abstraction. Click to read
3. Bitcoin ETF’s performance 5 months after launch and comparison with BlackRock’s Gold ETF
The Bitcoin spot ETF was approved in early January 2024, providing a significant new investment opportunity for individuals and institutional firms that need a regulated vehicle to enter the cryptocurrency market. Having overcome the excitement of the first few months, we now have the opportunity to analyze the impact of these ETFs on the market with more calm and complete information, and as is our custom in this channel, let us do so by examining the most relevant data. Click to read
4. A different meme coin: Holdium’s marshmallow experiment
Over the past few weeks, I’ve been hearing about a new memecoin that’s emerged - Holdium. Yes, thanks to DJ Khaled for the buzzword that allows me to say that. While most memecoins feel bland, a few do introduce new distribution, incentive, and retention mechanisms that will gradually spread to other areas of the crypto ecosystem. I think Holdium is one of them. Click to read
5. Analyst: 3 reasons why BTC price is at the "top of the cycle"
BTC prices have fallen 2.25% in the past 24 hours and are currently 16% below their all-time high of $73,835 reached on March 14. Click to read
