Bitcoin market volatility has been extremely low recently. However, such periods of inactivity are usually followed by a big move, but which way will it be? On May 22, on-chain analysis platform Glassnode reported that volatility had been very low in recent weeks.
Comparing to the beginning of the year, the international gold price up 11.2%, the S&P 500 index up 6.21%, the first cryptocurrency bitcoin price up 70.36%, a jump above 30,000 dollars.
Bitcoin mining is still a highly profitable business despite its drawbacks. Moreover, the total cumulative revenue for BTC miners has just reached a new milestone. On-chain analytics provider Glassnode has reported that Bitcoin miners have earned total revenue of $50.2 billion from the block subsidy and fees.
Cryptocurrency mining is the backbone of the entire blockchain ecosystem. This process involves solving complex mathematical equations that validate and verify transactions on a blockchain network.
Beleaguered bitcoin miners are finally feeling the sunshine of spring after a cold, hard crypto winter. The cryptocurrency’s rally above US$30,000 this year has been thrown a lifeline by power-hungry companies that pump new bitcoin into circulation, conspiring with falling electricity prices to boost their profitability.
Bills in Arkansas and Montana that focus on crypto mining have passed in recent days, while legislation in other states remain in the ratification process. While some of the proposed or passed pieces of legislation seek to protect the rights of crypto miners, others seek to put certain restrictions on companies operating in the sector.
Even as Bitcoin surges to levels not seen in months, HODLing will never go out of style. More than half of the coins in existence have not moved in over two years, according to recent figures—a new all-time high. Blockchain data firm Glassnode told Decrypt that the amount of Bitcoin which last moved more than two years ago currently stands at 53.14%.
Russia has risen through the ranks to become the second largest bitcoin mining sector in the world after the US. Will it close the gap on the frontrunner? China was once the world’s top crypto mining hub, accounting for 65-75% of the total bitcoin network hash rate.
Recently, the crypto market has been sluggish. In light of the uncertain investment trends in the market, a growing number of investors have shifted their focus toward the crypto upstream — mining.
Bitcoin (BTC 1.06%), which is up more than 60% this year, just experienced its best week since December 2020. While stretches like this often lead investors to anticipate some sort of correction, there is plenty of reason to believe this might just be the beginning of a new bull market.
Exchanging hands at $27,524 per coin at press time, Bitcoin [BTC] ended last week’s trading session with an impressive 35.8% increase in value, causing it to rally out of the deep bear market territory, Glassnode found in a new report.
The bitcoin mining industry appears to be getting back on its feet after a long crypto winter that saw major bankruptcies and fire sales. Even though mining economics have improved only marginally as bitcoin trades above $20,000, capital is starting to flow into the sector once again.
Bitcoin market volatility has been extremely low recently. However, such periods of inactivity are usually followed by a big move, but which way will it be? On May 22, on-chain analysis platform Glassnode reported that volatility had been very low in recent weeks.
Comparing to the beginning of the year, the international gold price up 11.2%, the S&P 500 index up 6.21%, the first cryptocurrency bitcoin price up 70.36%, a jump above 30,000 dollars.
Bitcoin mining is still a highly profitable business despite its drawbacks. Moreover, the total cumulative revenue for BTC miners has just reached a new milestone. On-chain analytics provider Glassnode has reported that Bitcoin miners have earned total revenue of $50.2 billion from the block subsidy and fees.
Cryptocurrency mining is the backbone of the entire blockchain ecosystem. This process involves solving complex mathematical equations that validate and verify transactions on a blockchain network.
Beleaguered bitcoin miners are finally feeling the sunshine of spring after a cold, hard crypto winter. The cryptocurrency’s rally above US$30,000 this year has been thrown a lifeline by power-hungry companies that pump new bitcoin into circulation, conspiring with falling electricity prices to boost their profitability.
Bills in Arkansas and Montana that focus on crypto mining have passed in recent days, while legislation in other states remain in the ratification process. While some of the proposed or passed pieces of legislation seek to protect the rights of crypto miners, others seek to put certain restrictions on companies operating in the sector.
Even as Bitcoin surges to levels not seen in months, HODLing will never go out of style. More than half of the coins in existence have not moved in over two years, according to recent figures—a new all-time high. Blockchain data firm Glassnode told Decrypt that the amount of Bitcoin which last moved more than two years ago currently stands at 53.14%.
Russia has risen through the ranks to become the second largest bitcoin mining sector in the world after the US. Will it close the gap on the frontrunner? China was once the world’s top crypto mining hub, accounting for 65-75% of the total bitcoin network hash rate.
Recently, the crypto market has been sluggish. In light of the uncertain investment trends in the market, a growing number of investors have shifted their focus toward the crypto upstream — mining.
Bitcoin (BTC 1.06%), which is up more than 60% this year, just experienced its best week since December 2020. While stretches like this often lead investors to anticipate some sort of correction, there is plenty of reason to believe this might just be the beginning of a new bull market.
Exchanging hands at $27,524 per coin at press time, Bitcoin [BTC] ended last week’s trading session with an impressive 35.8% increase in value, causing it to rally out of the deep bear market territory, Glassnode found in a new report.
The bitcoin mining industry appears to be getting back on its feet after a long crypto winter that saw major bankruptcies and fire sales. Even though mining economics have improved only marginally as bitcoin trades above $20,000, capital is starting to flow into the sector once again.
