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💰 CleanSpark doubles down on Bitcoin mining with new Mississippi acquisitions

CleanSpark has intensified its Bitcoin mining efforts by acquiring two new sites near Clinton, Mississippi. According to the firm, the locations will house S21 Pro miners, providing a combined operating hash rate of roughly one exahash per second (EH/s). It added that it would receive the site turnkey-ready by Dec. 1. With these additions, the company’s data center capacity in Mississippi will grow to 60.5 MW.

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💰 Massive Bitcoin Rally Predicted For Next 6 Months After Fed Rate Cut

According to CME Group’s FedWatch tool, markets are currently pricing in a 59% chance of a half-percentage-point rate cut and a 41% chance of a quarter-point cut. There’s an overwhelming expectation that by the end of 2024, the Fed could implement up to 100 basis points in cuts, with nearly 60% odds of 125 basis points.

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💰 Coinbase reports 'degraded performance' for Polygon transactions shortly after network upgrade

Coinbase, the largest U.S. cryptocurrency exchange, has put out a status update alerting users that Polygon transfers may be delayed. “We are aware that some users may be experiencing delayed sends and receives for Polygon (Matic). Buys, Sells, and Fiat withdrawals/deposits are not affected. We are investigating this issue and will provide an update shortly. Rest assured, your funds are safe,” the company’s status page read.

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💰 MicroStrategy buys $1.1 billion in #Bitcoin amid market volatility

MicroStrategy acquired approximately 18,300 Bitcoin for $1.1 billion between Aug. 6 and Sept. 12 at an average price of $60,408 per BTC, according to a Sept. 13 filing with the US Securities and Exchange Commission (SEC). Coinflip data shows the company’s latest purchase already has a paper loss of $2.2 million due to the top digital asset’s current volatility.

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ETH | BTC & ALTCOIN News


🪙 ETH's underperformance tied to current crypto market structure: Coinbase

Apart from declining network activity and token inflation, ether's recent underperformance compared to its peers likely stems from broader market factors following the deleveraging event in early August, according to an analyst at Coinbase. "Ethereum’s network activity and supply inflation are important factors to consider in its underperformance, but we also think the price action has been driven by the current market structure," Coinbase Global Head of Research David Duong said in a report.

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ETH | BTC & ALTCOIN News


🪙 Ethereum’s Buterin vows to support only highly decentralized Layer-2 projects

Ethereum co-founder Vitalik Buterin announced a change in how he will discuss Layer 2 (L2) projects starting next year. In a Sept. 12 X post, Buterin said he would only publicly recognize L2s that have reached Stage 1 or higher in their decentralization efforts regardless of his investment. According to him, a network would require 75% consensus from the council to override the proof system, with at least 26% of council members being independent of the rollup.

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🪙 DEX wars heat up as Uniswap's dominance slips to 36% amid rising competition

The DEX landscape is undergoing some diversification, with Uniswap's once-dominant market share facing a steady erosion. This change-up in market share could signal more competition and innovation in decentralized trading. Uniswap's market share has dropped from more than 50% in October 2023 to 36% today.

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🥇 Bitcoin addresses with non-zero balances climb over 50 million in 2024

Bitcoin’s number of addresses with a non-zero balance has seen a steady increase in 2024. After a dip in early January, the total number of unique addresses began to recover around March, with notable growth from May through September — now nearing 53.2 million. Despite fluctuations in price, which has dropped from around $70,000 to under $60,000 since March, user activity has maintained upward momentum.

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💰 Bitcoin Layer 2 Protocol Stacks Achieves New High in Smart Contract Deployments

Stacks, the Bitcoin Layer-2 protocol, has achieved a new high in smart contract deployments, with a 30% month-over-month increase. This growth reflects the ongoing efforts of developers to enhance the Bitcoin ecosystem, making Bitcoin a more productive network. The increase in deployments highlights the potential for decentralized finance (defi) on Bitcoin and the innovative projects being built on the layer-2 solution.

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💼 Need a daily dose of laughter to lighten up your trading day? 😂💸

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Our Crypto Meme Channel is here to brighten your day with the funniest, most relatable, and fresh-off-the-blockchain memes! 🤖🔥

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📊 Bitcoin and Ethereum ETFs drop to new lows after week of bearish price action

After a bearish week for the prices of many crypto tokens—only three of the top 50 tokens by market cap gained on the week, as per The Block's price page—the value of U.S.-based spot bitcoin and spot Ethereum exchange-traded funds have hit new multi-month lows. On Friday, U.S. spot Bitcoin ETFs logged nearly $170 million worth of outflows, bringing the total cumulative value of the 12 funds on the market to $48.24 billion.

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🪙 Vaneck Reveals Plans to Close Ethereum Futures ETF

On Sept. 6, Vaneck announced its decision to close and liquidate the Vaneck Ethereum Strategy exchange-traded fund (EFUT). The liquidation comes after evaluating key factors, including performance and investor interest. The firm noted that shareholders will have until September 16, 2024, to sell their shares before delisting.

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ETH | BTC & ALTCOIN News


🇯🇵 Japan’s three major banks to test cross-border stablecoin transfer platform

Japan’s three megabanks — MUFG, SMBC and Mizuho — are set to trial a cross-border stablecoin transfer platform, aiming to offer faster international settlement for enterprises. The pilot test, dubbed “Project Pax,” will leverage the stablecoins issued via Progmat, a blockchain startup backed by these three banks, SBI Holdings and Japan Exchange Group, according to a Thursday press release.

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🪙 Ether has underperformed bitcoin by 44% since switch to proof-of-stake: CryptoQuant

Ether has underperformed bitcoin by as much as 44% since the Ethereum blockchain's 'merge' to proof-of-stake almost two years ago, according to analysts. "Next week will mark two years since Ethereum switched to a proof-of-stake network, an upgrade known as The Merge. Since then, Ethereum has underperformed bitcoin by 44%," CryptoQuant analysts said.

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ETH | BTC & ALTCOIN News


🪙 Ethereum CME futures trading volume hits 9-month low in August

Chicago Mercantile Exchange (CME) Ethereum futures volume dwindled to a multi-month low in August, according to The Block's data. Aggregated monthly trading volumes of CME Ethereum futures for the month of August were $20.8 billion, according to The Block's Data Dashboard. The trading volumes, estimated in dollar terms, show a 31% decline from July's $30.5 billion. According to The Block's data, August's trading volume was a low not seen since November 2023.

Source

ETH | BTC & ALTCOIN News

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