Core Scientific increased Bitcoin production by 10% in July amid Texas power cuts

Crypto mining firm Core Scientific reported its operations produced 1,221 Bitcoin (BTC) in July even as the company powered down several times in response to demand on the Texas power grid. In a Friday announcement, Core Scientific said its month-over-month Bitcoin production had increased from 1,106 in June to 1,221 in July — roughly 10.4%. The firm reported curtailing operations “due to extreme temperatures at multiple data centers,” but also increased the number of its self-mining servers and hashrate by 6%, to 109,000 and 10.9 exahashes per second (EH/s), respectively. JULY 2022…

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Cryptopunk’s Volume Increased by 1,847% After Tiffany & Co. Launched a Special NFT Line.

Anyone can purchase the newly released NFTiff, but Punk holders who already own one can redeem it for a custom pendant. The trading volume of CryptoPunks, one of the sector’s most popular nonfungible token (NFT) collections, increased by 1,847% in 24 hours on Monday. Punk NFTs valued at about $1,226.68 Ether (ETH) were traded during that period. The rise in demand appears to be related to the unveiling of Tiffany & Co.’s own NFT collection, which includes a special perk for Punk holders. The collection, dubbed “NFTiffs,” comprises 250 digital…

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Increased adoption of Metaverse NFTs will power the next NFT growth cycle

Metaverses and blue-chip nonfungible tokens (NFTs) are the driving forces behind the dramatic growth in the NFT market. Projects like the Bored Apes, Crypto Punks, Azuki, Clone X and Doodles collections have steadily attracted collectors’ interest in the past year. As a result, these NFT projects have helped the NFT market achieve a growth rate of over 20,000% and a sales volume of approximately $17 billion. For an industry that once occupied a tiny sliver of attention within the crypto/blockchain world, it’s clear that NFTs are here to stay despite…

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Animoca Brands’ treasury increased in value by 5X over two months

Metaverse and blockchain gaming firm Animoca Brands has revealed that its treasury increased in value by more than five times in just two months. Other income, which includes gains on the more than 100 investments and digital assets in its portfolio, accounted for $529.6 million from January through Sept. 2021. Animoca co-founder and chairman Yat Siu’s Dec. 9 letter to the Metaverse and NFT community said that its stack of tokens including REVV (REVV), The Sandbox (SAND), Tower (TOWER), and GAMEE (GMEE), had seen a big increase thanks to surging…

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Increased utility in DeFi, NFTs back Ethereum’s 3-year high in its ETH/BTC pair

This week, Ether (ETH) price reached a new 2021 high against Bitcoin (BTC), bringing its year-to-date returns slightly above 350% and according to technical analysis, the rally could extend even further. On Dec. 1, bids for the ETH/BTC pair hit 0.0835 BTC on Coinbase for the first time this year. The upside move came as a part of an uptrend that started mid-October after Ether bottomed out against Bitcoin at 0.0630 BTC to carve out almost 41% price retracement. ETH/BTC daily price chart. Source: TradingView Growing adoption propels Ether’s boom…

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Morgan Stanley increased exposure to Bitcoin, held $300M in Grayscale shares

Investment funds from major U.S. investment bank Morgan Stanley have increased their exposure to Bitcoin through purchases of shares of Grayscale Bitcoin Trust. According to filings from the United States Securities and Exchange Commission on Nov. 23, the Morgan Stanley Insight Fund increased its holdings of Grayscale Bitcoin Trust, or GBTC, shares more than 63%, from 928,051 in the second quarter of 2021 to 1,520,549 as of Sept. 30. In addition, filings on the firm’s Growth Portfolio show it holding 3,642,118 GBTC shares in the third quarter of 2021, an…

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Tether claims to have increased total assets by $21B in new accounting review

Tether Holdings Limited, the company behind the USDT stablecoin, released an independent accountant report on Monday claiming that its tokens are fully backed by its reserves.  Moore Cayman, an accounting network based in the Cayman Islands, reviewed Tether’s latest Consolidated Reserves Report, or CRR, and determined that the company met its reserve obligations for the period that ended on June 30, 2021. According to the report, Tether’s consolidated total assets amounted to at least $62,773,190,075 for the reporting period. The company’s consolidated total liabilities were $62,628,932,116, of which $62,610,829,196 were…

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Global crypto ATM installations have increased by 70% in 2021

Alongside cryptocurrency’s decade-long adoption drive, the momentum behind the installation of crypto ATMs continues across the globe. Based on Coin ATM Radar’s latest data, crypto ATM installations in 2021 have witnessed a spike of 71.73%, pulling up the numbers from 13,993 on Jan. 1 to 24,030 at the time of reporting.  Last year, the global count rose to 13,993 ATMs with a 119.56% growth after 7,620 new machines were installed. So far, 2021 has seen the installation of 10,037 ATMs. To keep things in perspective, data suggests that crypto ATMs are…

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Rothschild Investment Corp has increased its Bitcoin exposure by 300% since April

Billion-dollar investment firm Rothschild Investment Corp quadrupled its exposure to Bitcoin (BTC) since April, new records show. In a filing with the United States Securities and Exchange Commission (SEC) on Saturday, Rothschild confirmed that it now owns 141,405 shares of the Grayscale Bitcoin Trust (GBTC).  Rothschild GBTC shares near 150,000 A quiet but nonetheless substantial player among institutions, Rothchild Investment Corp has also invested in Grayscale’s Ether (ETH) equivalent, the Grayscale Ethereum Trust. Its exposure to Bitcoin has increased considerably this year, the filing shows — in April, its GBTC…

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Crypto company CEO says the recent crypto boom brought increased adoption

Cryptocurrency has gone through a number of bull and bear cycles since the industry’s inception in 2009. While 2017 saw the crypto industry boom around initial coin offerings and a rising Bitcoin (BTC) price, 2020 and 2021 have seen the crypto space expand around decentralized finance (DeFi) and nonfungible tokens (NFTs). This time however, retail and institutional interest in crypto have ushered in greater adoption than ever before, according to one crypto company CEO.  “Cryptocurrencies have been growing steadily in popularity over the years, but 2017 left a bitter taste…

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