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⛏Large miners started selling bitcoins to cover mining expenses
The flow of large miners to crypto exchanges has peaked since January 2022. According to a report by the mining company Compass Mining, cryptocurrency mining has become less profitable and its participants have started selling their assets on the open market to cover power expenses.
Trader Peter Brandt predicted the Ethereum rate to fall to $300
Trader and analyst Peter Brandt believes that Ethereum could face a 70% devaluation from current prices. According to him, the value of the asset could drop to the $300 mark.
Bloomberg reports on the increased interest of institutions in cryptocurrencies
Institutional investors have started to show increased interest in cryptocurrencies, while retail investors are not as active in the digital asset market. Bloomberg journalists write about this, citing recent events in the industry. The outlet noted the recent partnership between BlackRock and Coinbase, which is designed to make it easier for institutional investors to enter the crypto market, and the news that the hedge fund Brevan Howard raised $1 billion for its crypto fund. These events are taking place against the backdrop of the crypto market’s recovery. Thus, over the last month, bitcoin rose by 20% and Ethereum rose by 60%.
https://getblock.net/en/news/bloomberg- ... currencies
Tether will provide the NY court with data on the backing of USDT
Representatives of Tether have agreed to provide the New York court with financial records relating to the backing of the USDT stablecoin. Tether called the procedure “a routine,” and stressed that complying with the court’s requirements does not substantiate the plaintiffs’ unfounded claims against the company.