US Customs has begun releasing thousands of seized Chinese-made crypto miners after months of delays at ports, reportedly due to internal opposition to Bitcoin mining. While some shipments are being released, many remain held, with significant fees incurred by companies awaiting delivery. This situation follows a broader trend of regulatory scrutiny and tariffs impacting the crypto mining industry in the US.
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SEC Acknowledges Bitwise XRP ETF Filing Amid Market Speculation and Optimism
The SEC has acknowledged Bitwise’s XRP ETF filing, following a recent surge in applications amid changing regulatory dynamics. Polymarket indicates a 78% chance of approval by 2025, despite XRP’s price remaining stable around $2.53, as traders await further regulatory clarity. The SEC’s quicker response to filings contrasts with previous delays, but many analysts believe ETF approvals hinge on the outcome of the ongoing Ripple lawsuit.
read moreBitcoin Miners Experience Significant Production Decline Amid Rising Difficulty and Hash Rate
Public miners experienced a 15% month-over-month decline in Bitcoin production in January, producing 3,267 BTC as mining difficulty and hash rate reached all-time highs. While Riot Platforms reported a slight increase, other major miners like Marathon Digital and Hut 8 faced significant drops in output. The surge in mining difficulty, which rose 5.6% to 114.1 trillion, alongside a record hash rate of 845.42 EH/s, has intensified competition and reduced profitability, with hashprice falling to $54 per petahash daily.
read moreGrayscale Files for XRP ETF Amid Ongoing Legal Challenges and Market Activity
Grayscale has filed with the U.S. Securities and Exchange Commission (SEC) to convert its XRP Trust into an exchange-traded fund (ETF) on NYSE Arca, aiming to enhance investor access to XRP. This move follows a surge of ETF applications from various firms, spurred by a pro-crypto environment under the new presidential administration. Meanwhile, XRP faces ongoing legal challenges with the SEC, which has accused Ripple Labs of conducting an unregistered securities offering, impacting the token’s market performance.
read moreBitcoin Miners Choose Between Holding BTC and Investing in AI
Post-Bitcoin halving, miners are divided between holding mined BTC and investing in AI technologies. While companies like MARA and Riot have seen stock declines by 20% and 36% respectively, those investing in AI, such as Core Scientific, have thrived, with its stock nearly quadrupling after securing major contracts. However, experts warn that the hodling strategy could backfire if Bitcoin prices fall, potentially masking deeper operational issues in the mining industry.
read moreBitcoin Mining CEOs Set Price Target of 250000 for 2028 Halving
At the HC Wainwright Bitcoin Mining Panel, leading CEOs from major mining firms discussed the industry’s future, emphasizing Bitcoin miners’ role in energy grid management and sustainability. Predictions for Bitcoin’s price before the next halving range from $100,000 to $250,000, reflecting optimism about its long-term value. The executives highlighted the need for strategic growth and efficient operations in a rapidly evolving market.
read moreCBOE to Launch Five Ethereum ETFs on July 23, Pending Approval
The Chicago Board Options Exchange is set to launch five spot Ethereum Exchange Traded Funds (ETFs) on July 23, pending regulatory approval. This move comes after the US Securities and Exchange Commission authorized rule modifications to allow the listing of multiple spot Ether ETFs. The anticipated launch has sparked increased demand from institutions, potentially leading to a shortage of Ether and heightened price volatility.
read moreEthereum ETFs Set to Launch on July 23, 2024, Revealing Pricing Details
Five Ethereum ETFs, including Fidelity and VanEck, are set to launch on July 23rd on the CBOE exchange. Firms have disclosed their fee amounts, with some waiving fees for a limited time. The SEC’s approval of the Ethereum ETF coincides with the biggest Bitcoin conference, and all eyes are now on the potential launch of a Solana ETF.
read moreXRPL Automated Market Makers Witness Surge in Total Value Locked
The XRPL Automated Market Makers have experienced a significant increase in total value locked, surpassing 7 million XRP, with the SOLO/XRP pool holding the largest share. This surge reflects growing interest in DeFi activities within the XRP community. Additionally, Ripple’s plans to introduce a native lending protocol and stablecoin on the XRPL demonstrate its commitment to fostering innovation in the digital asset space. Furthermore, the announcement of a cross-chain bridge for the XRP Ledger signifies a pivotal step in expanding its utility beyond traditional payment transactions. Despite a 30% price surge, XRP’s trading volume has declined, prompting concerns about the sustainability of its bullish momentum.
read moreCryptocurrency Market Report: Core (CORE) Leads Surge, Bitcoin (BTC) Follows
Core (CORE) has surged by 350% this year, outperforming Bitcoin, while Sovryn (SOV) and Ordiswap (ORDS) have also seen notable gains of 210% and 100% respectively. Bitcoin Cash (BCH) has experienced a 93% increase since the beginning of the year, reaching around $500 per token. LeverFi’s native token, LEVER, has ascended by 98% since January 1, 2024, and recently registered a 10% increase on April 24.
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