Marathon Digital keeps on mining despite BTC price slump

Despite data showing that the Bitcoin (BTC) price may have fallen to the point of being unprofitable for the average miner, Marathon Digital Holdings says it will continue working to accumulate the leading crypto asset.  Charlie Schumacher, VP of Corporate Communications at Marathon Digital told Cointelegraph on June 15 that while the company “isn’t immune to the macro environment,” it is “fairly well insulated and well-positioned” to weather the current downturn, due to the low cost of operations and fixed pricing for power. “For reference, in Q1 2022, our cost…

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What does the current slump mean for adoption?

It was September 6, 2021, when the Central American nation of El Salvador decided to go ahead and purchase 200 Bitcoin (BTC), worth about $10.3 million at the time. The day was hailed as momentous in the history of the crypto market and was met with much fanfare. In fact, many proponents claimed that the purchase was just an inkling of what really lay ahead in terms of a global crypto-driven economy. However, a lot has changed since then, especially with BTC losing 55% off its value after scaling up…

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NFT markets slump as weekly sales volume dives 30%

The nonfungible token (NFT) collections by Yuga Labs have experienced a dramatic downturn in transaction volume over the past 24 hours.  Otherdeed is down just over 50%, Mutant Ape Yacht Club (MAYC) is down 46%, and Bored Ape Yacht Club (BAYC) is down 25% according to data from NFT market tracker NFTGO. Over the past 24 hours, general NFT market activity has mirrored Yuga’s collections, where volume has dropped 31% to $113 million. However, prices have not yet followed suit as the total NFT market cap has dropped marginally to…

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Monero defies crypto market slump with 10% XMR price rally — what’s next?

Privacy-focused cryptocurrency Monero (XMR) rallied by nearly 9.5% in the past week compared with the crypto market’s decline of 8.5% in the same period. What’s more, the XMR/USD pair has broken above a strong, multi-month resistance trendline, hinting at more upside ahead. XMR price action  XMR’s price was down by a modest 0.87% on April 10 from its two-month-high of $245 established a day before. However, the cryptocurrency still outperformed its top rivals, including Bitcoin (BTC) and Ether (ETH), on a weekly timeframe. Speculations about entities using Monero to bypass sanctions could…

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Why the Bitcoin ‘mid-halving’ price slump will play out differently this time

Some analysts believe the four-year market cycle is changing and that the halving schedule may no longer determine cyclical conditions as Bitcoin closes in on the mid point between halvings. The halving is when the amount of Bitcoin (BTC) rewards issued per new block mined is reduced by half. The next halving will happen around May 5, 2024, andl reduce block rewards to 3.125 BTC. According to author @Alerzio on the Santiment blog on April 4, “the important resistance on the way is $50K.” The blog stated that breaking this…

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While Bitcoin price starts 2022 with a slump, mining difficulty is on the rise

Since the start of 2022, Bitcoin (BTC) has seen a decline in price by more than 40% from its all-time high (ATH) of $69,044.77 on Nov 10, 2021. This price volatility hasn’t affected the network’s ability to increase miners’ difficulty to obtain Bitcoin. As competition among miners continues to grow, Bitcoin’s difficulty reached a new ATH for the second time in two months. The hash rate has also experienced a steady climb of 45% in 6 months after last July’s lows. The Bitcoin network difficulty is determined by the overall…

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Cardano daily transaction volume surges but ADA prices slump

The Cardano blockchain has experienced an explosion in on-chain activity and now trails only Bitcoin in current 24-hour transaction volume, surpassing Ethereum in the process according to Messari. Cardano (ADA) currently has $17.04 billion in 24-hour transaction volume, according to data from on-chain analytics firm Messari. With Bitcoin (BTC) at $18.85 billion and Ethereum (ETH) at $5.25 billion according to Messari, Cardano is in second place in that category and is closing in on the top position for this metric. #Cardano just surpassed $LTC and $ETH in transaction volume. Are…

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Cardano (ADA) Still In A Slump This Week

Cardano (ADA) is presently trading at USD1.077, according to market indicators Thursday, which shows the crypto may be nearing the conclusion of its slump. The seventh-largest cryptocurrency by market cap is experiencing a bearish algorithm throughout February, leading up to its current market price. As of Thursday’s trading, the psychological level of support at $1.00 continues to be crucial for ADA. A daily near contact below this level would indicate the continuation of the recurrent downturn, with targets as low as $0.91 and $0.82 emerging from its systematic review. Cardano…

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NFT sales and blockchain games continue to grow despite the recent market slump: Report

January 2022 continues to be rough for crypto investors as current markets see turbulent fluctuations in the price of Bitcoin and other cryptocurrencies. Some have attributed the slump to recent federal intentions to introduce new rate hikes, and the political turmoil in Kazakhstan which significantly lowered the hash rate of bitcoin. On Jan. 14, the price of Bitcoin dipped below $42,000 as traders continued to hold out hope for bullish signals.  NFT trading and blockchain games on the other hand seem to have resisted the dip. According to reports from DappRadar, NFT…

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