CoinMarketCap labeling Q2 as a "disappointing quarter."

The leading cryptocurrency market analysis platform #CoinMarketCap ,the first half of the year, labeling Q2 as a "disappointing quarter."

According to CoinMarketCap, the total
market capitalization of the crypto market has
dropped by 1.36% in the past 24 hours, reaching
$1.2 trillion.

The platform also provides an
overview of the overall condition of trading
platforms in the first half of 2023. Additionally,
CoinMarketCap has updated the circulating supply data for TON, elevating its market ranking to 14th globally.

The platform has also announced the early user registration for its upcoming Web3 conference, "Catalyst." In other news, the price of Pepe has experienced an 8.33% drop in the past 24
hours, resulting in a nearly 70% decrease in value.

Furthermore, data reveals that there are only 233 addresses holding PYUSD. Analysts suggest that insider selling of PEPE tokens has begun, with approximately 400 billion PEPE tokens already sold. CoinMarketCap has integrated the security rating feature of blockchain security company CertiK. Lastly, the premium on SEI on Upbit has almost been eliminated.

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$ETH $BNB $BTC #TrendingTopic #Coinmerketcap #Q2 #NewsofCrypto

💥💥💥 Near Protocol ($NEAR ) shines in #Q2 despite broad market pullback: Report

NEAR Protocol's Q2 2024 Report Highlights

Stablecoin Growth: NEAR’s #stablecoin ecosystem grew 165% QoQ and 717% over six months, reaching $567 million. Frax plans to introduce frxNEAR, a Near-based stablecoin, to boost decentralized AI and programmable money.

Increased Network Activity: Daily active addresses rose by 51% to 1.9 million. NEAR’s stablecoin market cap also hit $567 million, with a 40% increase in new wallets and a 51% rise in average daily active addresses, largely due to the KAIKANOW platform.

KAIKANOW and AI Integration: Launched in September 2023, KAIKANOW uses AI and blockchain for dynamic content and rewards, averaging 960K active users daily. NEAR’s Nuffle Fast Finality Layer is expected to cut transaction costs by 4,000 times and reduce block completion times to 3-4 seconds.

Developer Activity: NEAR remains a strong environment for developers, offering tools like NEAR CLI and NEAR Developer Governance. Smart contract creators receive 30% of fees.

AI Focus: NEAR invests heavily in AI with initiatives like the Horizon AI Incubator, supporting crypto and AI integration.

Collaborations with NEAT Protocol aim to reduce costs in gaming and AI. Alex Skidanov will lead the NEAR.AI program to advance AI technologies.

Market Performance: NEAR is trading at $4.06, with a slight 0.51% decrease over the past week. Despite market fluctuations, NEAR’s resilient ecosystem shows potential for outperformance in future bull markets.

Source -  invezz.com

#CryptoTrends2024 #BinanceSquareTalks #CryptoMarkets

🔥🔥🔥 #Marathon Digital Posts $200 Million Quarterly Loss Amid #BitcoinMining Sector Woes

Marathon Digital Holdings Reports Significant Q2 Loss Amid Bitcoin Halving Impact

#Q2 Financial Performance

- Marathon Digital Holdings reported a substantial Q2 net loss of $199 million ($0.72 per share), up from a $9 million loss in Q2 2023. The loss was attributed to the Bitcoin halving event, which reduced transaction processing rewards by half, and operational challenges. Marathon’s share price dropped 7.8% to $18.14 amidst a broader tech stock decline.

Contributing Factors

- A $148 million fair market value drop in digital assets was a major factor. Analysts had predicted an EPS of -$0.19, but Marathon missed this by $0.53. EPS measures profit per share, with higher values indicating better profitability.

Operational Challenges

- Bitcoin production decreased by 30% to 2,058 $BTC due to the halving, increased global hash rates, and equipment failures. CEO Fred Thiel noted issues at the Ellendale site and intensified competition but mentioned remediation efforts and achieving a record-high hash rate of 31.5 exahash per second.

Revenue Growth and Challenges

- Revenue rose by 78% to $145 million due to a higher average Bitcoin price and new hosting services. However, lower production volumes and fair value losses offset these gains.

Industry-Wide Impact

- Marathon's challenges reflect broader industry trends, with Riot Platforms also reporting significant losses and decreased Bitcoin production following the halving event.

Source - decrypt.co

#CryptoTrends2024 #BinanceSquareTalks

👉👉👉 Gold Demand Hits #Q2 Record High, Driven by Central Bank Purchases, World Gold Council Reports

The World Gold Council's Q2 2024 report reveals that gold demand reached its highest level for a second quarter since 2000. This increase is attributed to central bank purchases and over-the-counter (#OTC ) investments, with central bank gold buying up by 6% and technology sector demand rising by 11%.

Record Gold Demand in Q2 2024

According to the report released on July 30, Q2 2024 saw the highest gold demand for this period since records began in 2000. Although gold demand excluding OTC #investments decreased by 6% year-on-year to 929 tonnes due to a sharp drop in jewelry consumption, the inclusion of OTC investments led to a 4% year-on-year increase, reaching 1,258 tonnes.

Key highlights from the report include:

1. Central banks increased net gold purchases by 6% year-on-year to 184 tonnes, driven by a need for portfolio protection and diversification.

2. Jewelry demand fell 19% year-on-year to 391 tonnes, marking a four-year low, largely due to record-high gold prices, which averaged $2,338 per ounce in Q2 and peaked at $2,427 per ounce in May.

3. Total gold supply grew by 4% year-on-year to 1,258 tonnes, with mine production hitting a second-quarter record of 929 tonnes. Recycling supply also reached its highest level for a second quarter since 2012 in response to rising gold prices.

4. Global gold exchange-traded fund (ETF) holdings declined by 7 tonnes in Q2, and retail bar and coin investment dropped by 5% to 261 tonnes, mainly due to weak demand from Western markets.

5. Gold used in technology surged by 11% year-on-year, driven by increased demand from the AI sector.

Source - news.bitcoin.com

#CryptoTrends2024 #BinanceSquareTalks

💥💥💥 These Hot #CryptoTokens🚀💼🌐👍🔁 Beat #bitcoin☀️ Gains in Q2. Here's What Drove Prices And What's Next

Crypto Market #Q2 Overview: BRETT, TON, and KAS Stand Out

Market Performance:

- In a challenging second quarter for the crypto market, BRETT, #Toncoin (TON), and Kaspa (KAS) emerged as top performers. Despite a 13.8% drop in total crypto market capitalization to $2.2 trillion, these assets showed significant gains.

Key Performers:

- BRETT: More than doubled to $0.15, becoming the top-performing asset among the top 100 coins.

- TON: Increased by 42% to $7.65, driven by its integration with Telegram.

- KAS: Rose over 35%, boosted by its innovative technology and Marathon Digital's mining announcement.

Factors Behind the Gains:

- Meme Coin Mania: BRETT’s rise was part of a broader meme coin trend, with a 45% increase in the meme coin sector over three months.

- TON and Telegram: The surge in TON’s value was significantly influenced by its integration with Telegram’s 1.56 billion users, adoption of TON payments, and new features like mini apps.

- KAS and Blockchain Innovation: Kaspa’s GHOSDAG protocol addresses scalability, decentralization, and security, attracting investor interest and a bullish outlook.

Looking Ahead: Q3 and Beyond:

- Historically, Q3 is weak for Bitcoin, averaging a 5% gain over the past 13 years. Political developments and central bank policies may impact market sentiment. However, sectors like bitcoin mining, AI, gaming, and DeFi, with strong fundamentals, are expected to continue performing well. Notable projects with strong fundamentals include ONDO, JASMY, and ENS.

Conclusion:

BRETT, TON, and KAS excelled in a challenging Q2, driven by unique factors and solid fundamentals. As we approach Q3, sectors with robust fundamentals may continue to stand out.

Source - coindesk.com

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🚀 NVIDIA Reports $30 Billion in Q2 Revenue, Surpassing Expectations 🚀

📈 #Nvidia Corporation (#NVDA ) has reported impressive financial results for the second quarter, posting $30 billion in revenue. This figure not only underscores the company’s strong market presence but also exceeds Wall Street expectations by 3.8%.

⭕The revenue surge is largely attributed to Nvidia's dominance in the #ArtificialInteligence (AI) and gaming sectors, both of which continue to drive substantial growth.

⭕The company’s robust performance is also bolstered by the increasing demand for its cutting-edge GPUs, which are integral to AI applications, data centers, and high-performance computing.

📢 CEO Jensen Huang noted that the company’s continued success is a reflection of its commitment to innovation and its strategic investments in AI technologies. Nvidia's #Q2 results have reinforced its position as a leader in the tech industry, with investors closely watching its future growth trajectory.

⚠️This latest earnings report is likely to have significant implications for the #StockMarket , as Nvidia remains a key player in the tech sector. With this revenue milestone, the company is expected to maintain its upward momentum, further solidifying its role in the ongoing AI revolution