What you need to knowThe #FED will officially end its policy of keeping interest rates high for 2.5 years this evening. It is almost certain that the institution will make a cut of at least 25 basis points and cut interest rates for the first time in 4.5 years.
The Fed's expected interest rate decisions are in full swing this time. For the first time since 2009, the markets are so indecisive about what a Fed decision will be... until last week it was 25, but... Until Friday of last week, the markets were certain that the Fed would make a 25 basis point cut.However, on Friday, the 50 basis point cut suddenly started to increase significantly. The 50 basis point cut rate is currently around 63% in the CME Fed Watch Tool, which searches the prices of futures contracts. This rate had fallen to 17% last week.
There is no reason behind the increase in the 50 basis point cut.“When there is uncertainty, you have to hurry” Tom Simons, an analyst at New York-based investment center Jefferies, said in his latest assessment, “It looks like you are implementing a monetary policy of restraint, but it doesn’t seem to be working as the Fed wants it to. I think that will be the case with quantitative easing. There is uncertainty. And when there is a payment, you usually have to hurry.”Former Fed branch member: 50 points is more accurate Robert Kaplan, former head of the Fed’s Dallas branch, also stated in an interview that the Fed is following up late: “There are many people like me who think the Fed could not pass and that a reduction should come that will prevent the economy from falling. Of course, some will want the Fed to proceed carefully, but 50 basis points would be a better result…”
Headline inflation has fallen, but the core is still high, as the Fed has been keeping interest rates between 5.25% and 5.50% since July. This move by the Fed has worked recently, and inflation has fallen rapidly to 2.5%. Core inflation is still above 3% and at 3.2%. The current interest rates are the Fed's last 23 years of interest rates and have been a period in which it has been followed at a high level in the long term.
The "dot-plot" will also be updated On the other hand, the "dot-plot" graph that the Fed appears 8 times a year in March, June, September and December will also be updated for the first time since June with this meeting.In these "dot-graphs" in June, Fed members had only predicted one interest rate cut this year. The character of this figure is being considered as definite.
#US #binance #USRetailSalesRise #OMC

Binance has launched Moonbix, its first Play-to-Earn (P2E) game, available on Telegram’s Mini App. The game integrates cryptocurrency rewards with space-themed gameplay, offering players new earning opportunities in the expanding blockchain gaming sector.
Moonbix Offers Crypto Rewards Through Space GameplayMoonbix immerses players in a space adventure, letting them control a spaceship with a claw-like manipulator to collect items such as yellow stones and gifts scattered across galaxies. These items hold in-game value, and as players gather them, they advance up the leaderboard. Top-performing players earn crypto rewards based on their success.
Binance Moonbix tap to capture the P2E game. Source: Telegram
Additionally, players can engage in quick drop games like Blum, where each play session allows users to earn points and boost their leaderboard ranking. Rewards, issued in the form of in-game tokens, can be used within Moonbix.To claim these rewards, users must complete Binance’s KYC process and link their Binance accounts.Binance Sets Strict Rules for Moonbix
ParticipationParticipation in Moonbix is governed by Binance’s specific terms and conditions for prize promotions and the standard Binance terms of use and privacy policy. Binance has reserved the right to disqualify users if they engage in dishonest behavior, such as market manipulation or bulk account registrations.
Binance Telegram Mini App Terms and Conditions. Source: Binance
Furthermore, Binance holds the discretion to amend the terms of the activity, including canceling or suspending it without prior notice.Early Access and Future ProspectsAlthough Binance hasn’t made an official announcement, early access links for Moonbix have already surfaced, generating excitement. A user on X named Damx confirmed that Moonbix is from Binance, further sharing a link to the company’s website with terms for its Telegram Mini Apps.

The post No Sell-off Needed? Bitcoin Whales Buy Big While Old Holders Stay Put appeared first on Coinpedia Fintech NewsDespite bearish market sentiment for Bitcoin (BTC), the world’s biggest cryptocurrency by market cap, it seems that this trend may not last for long.
On September 17, 2024, the crypto analytic firm CryptoQuant shared a post on X (previously Twitter) indicating that new whales and Binance traders are actively capitalizing on the current market sentiment by significantly buying the dip.
Whales Buying the Bitcoin Dip
The post on X also noted that the old whales continue to hold their BTC. This market sentiment and current whale activity signal market stability and potential price growth in the coming days. Source: CryptoQuant (X)However, if we look at the recent whale transactions, it appears that whales are showing strong interest in buying Bitcoin.
On September 16, 2024, First Digital Lab transferred nearly $80 million FDUSD to Binance, potentially to buy Bitcoin. If this happens, we may see a significant price rally. 2 hours ago, #First_Digital_Lab transferred 79.94M $FDUSD to #Binance.Last month, the same thing happened with 145.5M $FDUSD and $BTC increased 6.7% from $60k to $64k.Address:https://t.co/4lWVtdH05h pic.twitter.com/wMolLk6ceN— The Data Nerd (@OnchainDataNerd) September 16, 2024The last time the firm moved a significant $145.5 million  FDUSD to Binance, the BTC price experienced a price jump of over 6.7% from $60,000 to $64,000.
 Current Price MomentumAs of now, Bitcoin is trading near $57,800 and has experienced a price decline of over 3% in the last 24 hours. During the same period, its trading volume has skyrocketed by 125%, according to Coinmarketcap data. This rising trading volume signals higher participation from investors and traders amid the price decline.
Bitcoin Technical Analysis and Key Levels
According to expert technical analysis, BTC is at a crucial support level of $57,500 and is trading below the 200 Exponential Moving Average (EMA) on a daily time frame. The 200 EMA indicates whether an asset is in an uptrend or downtrend.
#BTC☀ #bitcoin #BinanceSquareFamily #everyonebinance #

The post Bitcoin Misses the Mark in Trump vs. Harris Debate; Price Rises Above $57k Amid Missed Agendas appeared first on Coinpedia Fintech NewsFormer President Donald Trump and Vice President Kamala Harris faced off in their first presidential debate tonight.
Both candidates arrived with well-prepared agendas, but Bitcoin enthusiasts were disappointed as neither addressed cryptocurrency reforms. The debate focused on issues like climate change, abortion rights, international conflicts, and economic reforms. 
Harris repeatedly stressed her plans for addressing the country’s challenges, presenting herself as a champion of the middle class. Meanwhile, Trump dismissed her claims, offering counterarguments that fell short of making a significant impact. Cryptocurrency and Bitcoin was absent from the discussion.
This comes on the heels of Trump’s recent appearance at the Bitcoin Nashville conference, where he made several bold promises, including the removal of SEC Chair Gary Gensler. Once viewed as a passing trend or the currency of choice for dubious figures, cryptocurrency is now firmly entrenched in the mainstream. 
Trump declared his ambition for the U.S. to become the “crypto capital of the planet” and the Bitcoin “superpower of the world.” His campaign has embraced cryptocurrency, now accepting Bitcoin donations and recently launching digital NFT trading cards.Bitcoin price is yet to react to this heated debate and the price is currently trading above the crucial $57k mark. 
Here’s What Trump Said At The Bitcoin Conference:
“We will have regulations, but from now on the rules will be written by people who love your industry, not hate your industry. I will appoint an SEC chair who will build the future, not block the future,”
Trump promised. Taking a dig at Harris and Joe Biden, he said, “If they win this election, every one of you will be gone. They will be vicious. They will be ruthless. They will do things and you wouldn’t believe.”

Bitcoin price declined and retested the $55,600 support zone.
BTC is now struggling and might face hurdles near the $57,000 resistance level.Bitcoin is struggling to recover above the $57,750 zone.
The price is trading below $57,200 and the 100 hourly Simple moving average.There is a connecting bearish trend line forming with resistance at $57,050 on the hourly chart of the BTC/USD pair (data feed from Kraken).The pair could struggle to recover above the $57,000 or $57,750 resistance levels in the near term.
Bitcoin Price Dips AgainBitcoin price attempted a recovery wave above the $57,500 level. However, the bears were active near the $58,500 resistance level. A high was formed at $58,508 and the price started another decline.It retested the $55,600 support zone. A low was formed at $55,601 and the price recently started a recovery wave. There was a move above the $56,000 and $56,200 resistance levels. It cleared the 23.6% Fib retracement level of the downward move from the $58,508 swing high to the $55,601 low.
Bitcoin is now trading below $57,200 and the 100 hourly Simple moving average. On the upside, the price could face resistance near the $57,000 level. There is also a connecting bearish trend line forming with resistance at $57,050 on the hourly chart of the BTC/USD pair.The trend line is close to the 50% Fib retracement level of the downward move from the $58,508 swing high to the $55,601 low.
The first key resistance is near the $57,750 level. A clear move above the $57,750 resistance might send the price further higher in the coming sessions.The next key resistance could be $58,500. A close above the $58,500 resistance might spark more upsides. In the stated case, the price could rise and test the $60,000 resistance.
Another Decline In BTC?If Bitcoin fails to rise above the $57,750 resistance zone, it could start another decline. Immediate support on the downside is near the $56,000 level.
The first major support is $55,600.
The next support is now near the $55,000 zone. Any more losses might send the price toward the $53,500 support in the near term.
Technical indicators:Hourly MACD – The MACD is now losing pace in the bearish zone.Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now near the 50 level.Major Support Levels – $56,000, followed by $55,600.
Major Resistance Levels – $57,050, and $57,750.Source: NewsBTC.comThe post Bitcoin Price Struggles: Can Bulls Step In to Save the Week? appeared first on Crypto Breaking News.
#BTC

Bitcoin (BTC) price experienced a 5% gain between Aug. 13 and Aug. 14, reaching $61,791, before quickly reversing the entire move, falling to $58,914 in under two hours.
This abrupt downturn occurred after the United States reported an inflation figure that slightly undercut analysts' expectations. The initial price surge was driven by significant announcements concerning spot Bitcoin exchange-traded funds (ETFs) and MicroStrategy (MSTR) holdings, but macroeconomic conditions ultimately proved decisive on Aug. 14.Heavy hitters adding Bitcoin ETF and MicroStrategy positions had limited impactGoldman Sachs, a leading global financial institution, disclosed new spot Bitcoin ETF holdings totaling $418 million in its 13-F filing, reflecting positions as of June 30.
The allocation spanned multiple providers, including BlackRock, Fidelity, Invesco, and Grayscale. While it remains unclear whether these investments were made by external fund managers or Goldman’s internal asset management team, this marks a significant milestone, as the firm oversees $2.81 trillion in assets under management.Not all asset managers have embraced such investments. According to CNBC, JPMorgan, Bank of America, and Wells Fargo continue to restrict their financial advisors from recommending spot Bitcoin ETFs.
Meanwhile, Morgan Stanley, one of the world’s largest wealth management firms, only approved the distribution and sale of spot Bitcoin ETFs through its 15,000 financial advisors as recently as Aug. 7.
Consequently, Goldman’s allocation could potentially set a precedent that encourages its competitors to follow suit.Additionally, 13-F filings released on Aug. 14 brought further attention to Bitcoin through significant positions in MicroStrategy (MSTR) shares.
Norges Bank, the central bank of Norway, reported a holding of 1,123,930 shares, valued at $152.2 million, while the Swiss National Bank disclosed a stake of 466,000 shares, worth $63.1 million. Moreover, South Korea’s National Pension Service announced the acquisition of 245,000 shares, amounting to $33.2 million.
The pivotal factor behind Bitcoin’s subsequent decline appears to be the US Department of Labor’s report, which revealed a 2.9% increase in the Consumer Price Index (CPI) over the past 12 months, marking the lowest rise since March 2021. Notably, shelter costs contributed to 90% of the overall metric, reinforcing investor confidence that the US Federal Reserve (Fed) is likely to reduce interest rates throughout 2024.Global recession fears drive investors away from BitcoinAn environment of expansive monetary policy generally benefits the stock market by reducing financing costs for companies and diminishing the appeal of fixed-income investments.
While Bitcoin doesn't directly compete with the S&P 500, a significant part of its allure stems from its role as a hedge, particularly during periods of uncontrolled inflation. Consequently, recent macroeconomic trends have not been favorable for Bitcoin’s performance.
However, attributing Bitcoin’s price weakness solely to a minor surprise in the US CPI data would be simplistic. Notably, the last time Bitcoin maintained a price above $62,000 was on Aug. 2.
The primary catalyst for the correction from its $70,000 peak on July 29 was the stock market downturn triggered by the Bank of Japan’s decision to raise interest rates. This move heightened risk aversion among investors, leading the US 5-year Treasury yield to close on Aug. 5 at its lowest level since May 2023.Therefore, Bitcoin’s negative performance on Aug. 14 seems to reflect investor concerns about the likelihood of a global economic slowdown.
To provide context, gold, traditionally considered a hedge, is trading less than 2% below its all-time high. This contrasts with the recent 5.7% gains in nine days on the S&P 500 index, which may be misleading, as they largely reflect short-term impacts from temporary US Fed actions.One potential silver lining is that Bitcoin could become a valuable asset if the global economy fails to maintain its momentum, irrespective of inflation trends.
For instance, during periods of recession, there is typically reduced demand for credit and lower consumer spending, which can lead to decreased inflation. Such a scenario, known as stagflation, could present a compelling case for Bitcoin’s bullish potential in 2025, though it is still too early to gauge the probability of this outcome.This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

#BTC☀ #btc #Everyone @Everyone #btctraders @traders #traders

The Nasdaq International Securities Exchange has submitted a proposal to the Securities and Exchange Commission (SEC) to introduce options trading for a new trust managed by BlackRock, called the iShares Ethereum Trust. The trust's assets will consist solely of Ethereum, stored by Coinbase, and cash, held by The Bank of New York Mellon, as outlined in a filing on Tuesday.Notably, the trust will not engage in Ethereum's proof-of-stake validation or utilize its assets for staking income, ensuring it remains a passive investment vehicle. The initiative aims to expand investment opportunities for Ethereum and make cryptocurrency investments more accessible within traditional financial markets, according to Nasdaq.The filing explains that while the shares do not directly mirror an investment in Ethereum, they offer investors an alternative means of gaining exposure to Ethereum through the public securities market, which may be more familiar to them.Nasdaq asserts that the proposed rule change will provide investors with a cost-effective way to access Ethereum and address their investment strategies, which often include hedging and speculation. Options are a popular tool among traders for managing risk or speculating on future price movements of assets, offering flexibility as traders can choose whether or not to execute the trade.This proposal follows the SEC's recent approval of several cryptocurrency ETFs in the U.S., including the first spot Bitcoin ETFs earlier this year and multiple Ethereum ETFs in May 2024. This marks a significant shift, as the SEC had previously denied such crypto products for over half a decade.If the proposal is approved, the options on the iShares Ethereum Trust will adhere to the same listing and trading rules as other ETFs, including regulations concerning underlying securities, expirations, strike prices, and trading halts. According to BlockBeats, Nasdaq and BlackRock, the world’s largest asset management firm, announced on August 7 their intention to introduce options for the spot Ethereum ETF and initiate trading. Documents released on the SEC website indicate that BlackRock and Nasdaq ISE, LLC have requested a rule change to list and trade options on the iShares Ethereum Trust, with the ticker symbol ETHThe document suggests that offering options on this trust fund could provide investors with a lower-cost tool for gaining exposure to spot Ethereum and serve as a hedging instrument for Ethereum-related investments and positions. The SEC has set a 21-day period for public comments on the proposal, with Bloomberg analyst James Seyffart indicating that a final decision could be made by early April 2025.

#SEC #ETH🔥🔥🔥🔥 #Everyone #BinanceNews

Solana (SOL), one of the prominent names in the cryptocurrency world, draws attention with a promising upward trend. SOL, which has broken its bullish formation and retested its support in recent weeks, has the potential to reach $250 levels in the long run.
Although it has experienced a 0.83% depreciation in the last 24 hours, the overall market mood remains optimistic.Last week, the price of the SOL saw an increase of over 6%. This increase reveals that the interest in the SOL is strong in the market. However, short-term declines have led to bear rally concerns among some investors.
Although the feeling around the LEFT turns negative on July 27, this may not mean the beginning of a sustained downtrend.The LEFT has scorched above a bullish steak pattern identified in March. This could be a harbinger of a potential bull run. In particular, crypto analyst World Of Charts highlights the SOL's recent pattern breakout and a successful retest of support.
This retest could trigger a rally that will increase SOL to $250.According to World Of Charts, the formation breakout of the LEFT and retesting the support is an important step. This creates great excitement among investors. Coinglass data also shows the increase in the long/short rate. The ratio of long positions to short positions has increased, which indicates a sense of upsish. However, technical indicators give mixed signals.Do technical analysis and study patterns before investing.Keep track of long/short rates, which provides information about market sentiment.Track indicators such as Chaikin Money Flow (CMF) and Relative Strength Index (RSI).Develop risk management strategies and adapt to instant market changes.For a shorter-term target, the LEFT could target the $188 level if the bullish continues.
However, current market indicators indicate that downtrends may continue, and the LEFT may see a decline as low as the $176 level. #Solana #nalysis #binance4ever

Bitcoin Conference Increases BTC’s Fear and Greed Index to New HighsTrendingThe market sentiment on Bitcoin has grown positive as traders have become more bullish.
The BTC Fear and Greed Index has also clocked over 70. The BTC positive sentiment hit a 16-month high score, according to Santiment.
The crypto analytics company Santiment tweeted the insights on July 28. According to Santiment, the king coin’s 20%+ rally over the past three weeks increased traders’ bullish sentiment. The analytics company reached this conclusion by monitoring positive vs. negative comments on social media about BTC. 

The positive sentiment is the highest it has been since March 2023. Santiment measured these comments using the Weighted Sentiment Index, which monitors Bitcoin mentions on X. The Bitcoin price at the time of writing is $67,515, down by approximately 0.90% in the past 24 hours. The current price is approximately 0.70% up in the past 7 days. The trading volume is up by over 46% over the past 24 hours.
 Trump’s speech at the Bitcoin Conference impacts market sentiment#Bitcoin has hit a 16-month high in positive sentiment, with its price nearing $68,000. #Santiment data shows a surge in positive social media mentions, reaching levels not seen since March 2023.
This boost in sentiment is partly driven by anticipation for former #US…
pic.twitter.com/5taz8gYXkK— TOBTC (@_TOBTC) July 28, 2024Some attribute the current positive sentiment to how the crypto community anticipated Donald Trump’s speech at the Bitcoin Conference 2024. The Bitcoin Conference 2024 took place in Nashville, Tennessee, from July 25 to 27, attracting global key figures and crypto enthusiasts. Former President Donald Trump was one of the key speakers during the Bitcoin Conference.
Others included presidential candidate Robert F. Kennedy Jr., Microstrategy’s Michael Saylor, and ARK’s CEO Cathie Woods.Trump’s continued support for BTC and his wish to make crypto a strategic reserve for the U.S. has been gaining attention from crypto enthusiasts. In his speech on July 27, Trump mentioned his plans to make the U.S. the capital of crypto on the planet. Trump suggested that Bitcoin would eventually overthrow gold.
The former president also presented BTC as a technological marvel and a ‘miracle of cooperation and human achievement.’ He criticized the government’s decision to sell its BTC.
Trump then promised to fire the U.S. SEC chair, Gary Gensler, when re-elected.Kennedy Jr. is skeptical about Trump’s support for BTCPresidential candidate RFK Jr. expressed his doubt about Trump’s support for BTC. In his July 26th speech at the Bitcoin Conference, Kennedy Jr. mentioned Trump’s previous stance on Bitcoin. The former president has revealed several times his negative stance on BTC. In 2019, he tweeted that he was not a fan of Bitcoin and other crypto that aren’t money and based on ‘thin air.’ Kennedy Jr.’s speech also highlighted the former president’s mention of BTC looking like a scam in 2021.
I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity….— Donald J. Trump (@realDonaldTrump) July 12, 2019Kennedy Jr. appreciated Trump’s evolution into crypto and welcomed the former president’s enthusiasm for Bitcoin. The presidential candidate insisted that Trump should explain “how his personal values align with Bitcoiners.“RFK Jr. notably had pledges similar to Trump’s on July 27. As key figures influencing crypto, Kennedy Jr. and Trump believed the country should HODL BTC. Kennedy specifically mentioned transferring the 200,000+ BTC held by the U.S. DOJ to the Treasury on his first day if elected. Another plan Kennedy Jr. revealed was daily purchases of 550 BTC to increase the U.S. Treasury’s BTC holdings to 4 million.

The Bitcoin 2024 conference kicked off on July 25 in Nashville, Tennessee with high profile speakers like Donald Trump, Michael Saylor, Cathie Wood, Robert F. Kennedy Jr, Russell Brand and Edward Snowden set to draw record crowds.
The Trump factor11:26 UTC: Cointelegraph's US news editor Sam Bourgi and journalist Ana-Paula Pereira are on the ground covering the event with the latest insights, pictures and video from panels and interviews.
The conference has garnered significant attention in the preceding weeks as prominent politicians joined the lineup of speakers set to feature at the event in Nashville. Presidential candidates Donald Trump and Robert Kennedy Jr are two major drawcards along other notable speakers like Michael Saylor, Cathie Wood, senators Marsha Blackburn, Cynthia Lummis 
Related: Trump reelection campaign raised $3M in crypto for Q2 2024
Bitcoin and Lightning still hold promise for retail banking15:26 UTC: Lightspark chief strategy officer Christian Catalini and Xapo Bank director of public affairs, policy and regulation Joey Garcia unpack the promise that Bitcoin and the Lightning Network will still significantly impact retail banking.Catalini emphasized the ability of Bitcoin from its inception to seamlessly allow its users to transfer value globally across "more than 200 countries, every day, 24/7 with deep liquidity':"There's only one asset and that asset is Bitcoin.
It has regulatory clarity. It has on and off ramps in pretty much every country around the globe."
Related: VanEck says Bitcoin could hit $2.9 million per coin by 2050
BlackRock' clients are mainly interested in BTC, ETH17:38 UTC: BlackRock head of digital assets Michael Mitchnick unpacked the global asset manager's move into cryptocurrencies through Bitcoin and Ethereum exchange traded-fund products in 2024 in conversation with Bloomberg's James Seyffart."I would say that our client phase today, their interest overwhelmingly is in Bitcoin first.
There's definitely interest in Ethereum too but there's very little interest today beyond those two."Disclaimer: This article is being actively updated on 25 July. 
Magazine: Godzilla vs. Kong: SEC faces fierce battle against crypto’s legal firepower
#BinanceTurns7 #Everyone

According to Cointelegraph: Spot Ether (ETH) exchange-traded funds (ETFs) have been given the final approval to begin trading in the United States on July 23.
This approval is expected to bring billions of dollars into the Ethereum ecosystem.The United States Securities and Exchange Commission (SEC) approved the final S-1 registration statements on July 22, paving the way for their launch on various stock exchanges, including the Nasdaq, New York Stock Exchange (NYSE), and Chicago Board Options Exchange (CBOE).

A Bitcoin mining device with a hashrate of only 500 gigahashes per second (Gh/s) managed to mine a block on July 24, according to an X post from Bitcoin mining device retailer Altair Technology.
The block is worth approximately $206,000 based on the current Bitcoin price.“Congratulations to the miner who likely mined the first solo BTC block with a Bitaxe on @ckpooldev with ~500 Gh hashrate!” the post stated.The device, called a “Bitaxe,” and produced by D-Central Technologies, is approximately the size of a human hand, as shown by YouTube channel “How Much?”
The device was reportedly connected to node infrastructure service Solo CKPool when it successfully mined the block. On CKPool’s website, it describes itself as “a service to allow miners to mine solo as you cannot mine directly to a bitcoin core node[.]” The service claims that it is “NOT a pool despite its name.”
Blockchain data shows that Bitcoin block number 853742, mined at 11:43 am UTC on July 24, produced by this “pool.” According to Altair, it was this block that was mined by the 500 Gh/s Bitaxe device.The current total hash power of the Bitcoin network is 552.49 Exahashes per second (Eh/s), according to Bitcoin analytics platform CoinWarz. This is equivalent to 552,490,000,000 Gh/s or approximately 1.1 billion times the power of the Bitaxe device that mined this block. This implies that roughly every ten minutes, the device has a 1 out of 1.1 billion chance of mining a block.
Bitcoin miners consume electricity even if they do not successfully mine a block, which operators must pay for out of their own funds. For this reason, solo Bitcoin mining is often compared to a lottery. But for this particular solo miner, the decision to participate appears to have paid off.A solo Bitcoin miner also mined a block in April.
However, that operator used a device with a power of 120 petahashes per second (Ph/s) or 120,000,000 Gh/s, which is 240 times the processing power of the Bitaxe.Most Bitcoin mining operators pool their hash power with other operators and equally distribute the rewards from the pool based on the amount of hash power contributed by each operator. But some Bitcoin enthusiasts worry that this practice is leading to the centralization of the Bitcoin network and champion solo mining as a possible alternative.
Magazine: THORChain founder and his plan to ‘vampire attack’ all of DeFi

Analysts believe Ether (ETH) price could rally to all-time highs over the next couple of months following the launch of the first-ever spot Ethereum exchange-traded funds (ETFs) in the United States.
Traders believe these funds are “heavily undervalued.”The spot ETH ETFs started trading on July 23, a day after the US Securities and Exchange Commission (SEC) gave the final approval to issuers, including BlackRock, Fidelity, 21Shares, Bitwise, Franklin Templeton, VanEck and Invesco Galaxy.
Within just 15 minutes of trading, the ETFs recorded an impressive volume of $120 million.
“The $ETH ETF has insane numbers. First 15 minutes already 50% of Bitcoin's first day in terms of volume: $112 million,” Michaël van de Poppe, founder and CEO of trading firm MNTrading, wrote in his own X response.
“The Ethereum ETF launch is heavily undervalued, and I expect it to trade towards an ATH in the coming 1-2 months.”Meanwhile, fellow trader Daan Crypto Trades described the initial flows as “decent,’ predicting heightened crypto market volatility.“Going to be a volatile day ahead with lots of movement, I'm assuming!”
In an earlier post, Daan Crypto Trades shared the following chart showing the key levels ETH price needed to clear in its recovery path.According to their analysis, Ether bulls needed to overcome resistance from a stubborn supply zone stretching from $2,672 to $3,730 to secure the uptrend. This was also dependent on holding firmly above $3,350.
“ETH needs to hold $3,350, and it would look strong. Expecting a lot of movement these days surrounding the ETF launch.”“ETH’s price hits $3,450 as investors buckle up for a wild ride,” declared crypto investor Alessa Mutto in a July 23 post on X, adding, “I am very bullish about crypto and ETFs and believe they will go parabolic in the next few years.”
However, Mutto admitted that, with time, spot Ethereum inflows will tell where Ether’s price will go moving forward.Related: Bitcoin gains $1.2K in 1 hour as BTC price rebounds on Ether ETF launchSpot ETH ETFs see $360 million in trading volume in the first 90 minutes of tradingSpot Ethereum ETFs have accumulated $361 million in combined trading volume one and a half hours into trading, according to data compiled by Bloomberg Senior ETF analyst Eric Balchunas.
In an earlier post, Balchunas provided insight into the volumes by comparing them to when spot Bitcoin ETFs began trading in the United States on Jan. 11.“Here’s volume after the first 15 minutes of trading. Total of $112m traded for the group (which is only about half of what Bitcoin ETFs’ volume pace was on DAY ONE, although 50% would exceed expectations IMO).”
US-based spot Bitcoin ETFs have been heralded by market participants as the most successful ETF launch ever. The funds have seen $300 billion of cumulative trading volume in the first six months, bringing the total assets under management to $62.12 billion as of July 22.This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.