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Data Shows 50% Of Bitcoin Hashrate Controlled By Two Mining Pools

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Bitcoin hashrate is becoming highly centralized, with a few mining pools controlling most of the blockchain mining power. The latest data from Mempool indicates that 50% of the total hashrate is held by Foundry USA and Antpool. 

A Highly Centralized Mining Network

Foundry USA has maintained a hashrate of over 30% of the total Bitcoin network for several weeks. It became the first mining pool of non-Chinese origin to lead the list in November 2021, following the ban on Bitcoin mining in China in the middle of the same year.   Read more...

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Crypto Friendly Silvergate Reveals Positive Financial Data, Shares Rebound

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Silvergate, the financial institution oriented to the crypto industry, released data related to its fourth quarter, 2022. Following the collapse of one of its partners, crypto exchange FTX, the bank saw over $ 8 billion in customer withdrawals leading to rumors about its potential bankruptcy. 

Today, Silvergate has set some minds and hearts at ease as the bank revealed that it has enough assets and liquidity to continue its operations. According to the data, the financial institution has over $ 11 billion in total assets as of December 31s, 2022, with $ 6 billion in deposits. 

Silvergate SI SIUSD FTX 1  Read more...

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Bitcoin Holders To Expect More Difficulties As Data Point To Looming BTC Price Drop

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Bitcoin, following the implosion of crypto exchange FTX, continues to struggle not only in terms of its trading price but also in its profitability.

It can be recalled that the company, back in November 2022, moved to file Chapter 11 bankruptcy in a U.S. county court, and collapsed in just a matter of days.

Bitcoin, being the main driving force of the crypto market, was greatly affected by this unfortunate development and eventually exited 2022 with a value that was significantly lesser than what it had back in 2021.  Read more...

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Is The NFT Bull Market Back? Here’s What The Data Says

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The NFT market took a rather significant beating in the year 2022 despite reaching its peak trading volume at the start of the year. Since then, volume is down more than 94% as investors move away from these highly illiquid assets. However, there has been an upturn in NFT volume in the last month, so is the NFT bull market back?

What The Data Says

Looking at data from IntoTheBlock, it does show that there has been a rise in NFT trading volume over the last month but this has not been steady growth. In fact, the graph shows more of a zig-zag pattern meaning that the volume has seen highs and lows during this time.  Read more...

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New Data Shows Over 80,000 Crypto Related Jobs Filled In 2022, Despite Mass Layoffs

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The weakening crypto market and contagion among companies as a result of the implosion of the Terra ecosystem in mid-May and the unexpected collapse of FTX last month have had a significant impact on the industry’s headcount, which is perhaps its most important asset.

In the previous two months, a large number of people lost their jobs.  According to media sources and press announcements, as of July 21, 2022, an estimated 3,726 jobs have been vacated.

The layoffs have taken a significant toll on employee morale and have damaged the foundations of certain corporate giants.  Read more...

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Binance’s Proof-Of-Reserves Report “Makes Sense” With On-Chain Data, Says CryptoQuant

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CryptoQuant says Binance’s recently released Proof-of-Reserves report “makes sense” when compared with on-chain data.

Binance’s Bitcoin Liabilities In Proof-Of-Reserves Report Are Consistent With On-Chain Data

The Proof-of-Reserves (PoR) here refers to the public proof that an exchange has backed its customers’ entire deposits with proper collateralization. Since the collapse of FTX, distrust around centralized platforms has grown among investors in the cryptocurrency market, and they have been demanding for exchanges to release PoR reports.  Read more...

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Data Suggests Bitcoin Holders Remain Steadfast

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Looking at metrics that give more weight to bitcoin held for the long term, the conviction of holders is stronger than ever and only growing.

This is an opinion editorial by Shane Neagle, the editor-in-chief of “The Tokenist.”

Macroeconomic headwinds are continuously adding to a bearish narrative across all markets, including bitcoin.

As of October 2022, bitcoin is down more than 60% since the start of the year, yet bitcoin’s trading volume remains fairly consistent since July 2022. Does that mean the majority of holders are giving up on the prospect of bitcoin and opting to sell?  Read more...

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Bitcoin Rebound Is About To Happen, This On-Chain Data Show

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Bitcoin is having a sluggish “Uptober” as compared to how it rallied during the same month last year.

According to online crypto data provider Statmuse, the largest cryptocurrency by market capitalization ended October 2021 with an average price of $ 58,051, peaking at $ 66,890 on the 21st day of the month.

But bitcoin is in a different space right now as for the first 12 days of the month, it is averaging $ 19,516, tallying its month-high on October 6 when it hit $ 20,408.

At press time, according to tracking to Coingecko, the digital currency is trading at $ 19,108, down 5.2% for the past week.  Read more...

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Market Wrap: Bitcoin, Other Risk Assets Fall Again Following Disappointing Jobs Data

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Investors are nervous about rampant inflation prompting yet another massive rate hike by the Fed, and the economic damage that might cause. Market Wrap is CoinDesk’s daily newsletter diving into what happened in today’s crypto markets.
CoinDesk

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Data: Most Bitcoin Mining Firms Have Lost Money Over The Years

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Data shows most of the public Bitcoin mining companies have been accumulating losses during their lifetimes.

Bitcoin Mining Firms Have Been Losing Money Over The Years

As per the latest weekly report from Arcane Research, out of the public miners in the red, Core Scientific has especially large losses of $ 1.3 billion.

The relevant concept here is of “retained earnings,” which is a measure of any firm’s total accumulated net income during its entire lifespan.

When this metric has a negative value, it means the company in question has incurred a net loss over its lifetime.  Read more...

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Revolut Fell For Social Engineering Attack, Data From 50K Users Exposed

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It was Revolut’s turn. Another day, another data breach in the crypto world. About a week ago, someone inside the company’s headquarters fell for a scam. According to Revolut, the social hackers only had access to the data “for a short period of time.” And the breach only affected 0,16% of their clients. Not too bad, right? Well, apparently the attackers got 50K people’s data and are already trying to scam them. Plus, they might’ve gotten control of Revolut’s website.   Read more...

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Data Shows Middle Income Countries Driving Worldwide Crypto Adoption

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Crypto adoption across the world has been accelerated in the last couple of years due to the multiple bull rallies. With the recent bear market, there has been a decline in the adoption rate, and it has leveled out in the last couple of months. However, there are some parts of the world where the adoption rate continues to wax strong. A recent Chainalysis report goes into the worldwide adoption trend, which found that middle income countries are driving adoption.

Middle Income Countries Take The Lead  Read more...

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Data Shows Bitcoin Still Highly Correlated With Stock Market

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Data shows the Bitcoin correlation with the stock market has been high in recent months as the crypto has been closely following S&P 500 and NASDAQ.

Bitcoin Has Continued To Mimic Movements Of The US Stock Market In 2022

As per the latest weekly report from Arcane Research, while BTC has been more volatile than the stock market, the crypto’s movements have still been pretty close to the latter.

In the year 2022 so far, both the stock market and Bitcoin have found it hard. However, year-to-date, BTC is down 51% while S&P is 14% and NASDAQ 22% into the red, much less than BTC’s losses.  Read more...

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On-Chain Data Shows Bitcoin Miners May Be Preparing To Dump

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On-chain data shows Bitcoin miners withdrew a large amount of coins from their wallets yesterday, suggesting they may be planning to sell them.

Bitcoin Miners Transferred 14k BTC Out Of Reserve Yesterday

As pointed out by an analyst in a CryptoQuant post, the BTC miner reserve observed a plunge during the past day.

The “miner reserve” is an indicator that measures the total amount of Bitcoin currently stored in the wallets of all miners.

When the value of the metric rises up, it means a net number of coins are entering into miner wallets at the moment.  Read more...

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Dow Shrugs Off Ugly Housing Data to Jump 175 Points

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The Dow and broader U.S. stock market advanced Tuesday after a pair of industrial blue-chip companies reported better than expected earnings. The rally lost some of its luster after the National Association of Realtors reported yet another month of disappointing housing sales. Dow Rallies; S&P 500, Nasdaq Follow All of Wall Street’s major indexes reported […]

The post Dow Shrugs Off Ugly Housing Data to Jump 175 Points appeared first on CCN Markets

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This S&P 500 Data Should Startle You – Analyst Reveals Stark Warning

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The S&P 500 set a record Friday on lingering expectations of a Fed rate cut. Other major benchmarks also hit their own all-time highs. But a revealing breakdown of the broader index shows only three S&P 500 sectors set new highwater marks. That makes it a thin win for the stock market. It also indicates […]

The post This S&P 500 Data Should Startle You – Analyst Reveals Stark Warning appeared first on CCN Markets

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Defiant Google to Keep Listening to Private Discussions Despite Data Leak

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Just days after Amazon admitted in a letter that it did not erase transcripts of its users’ conversations, Google gets involved in a similar controversy. In the face of a recent leak involving over a thousand private recordings, the Mountain View, Calif. behemoth published a letter defending its policy to let employees listen to users’ […]

The post Defiant Google to Keep Listening to Private Discussions Despite Data Leak appeared first on CCN Markets

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SEC Launches Search for Blockchain Data Service to Help ‘Monitor Risk’

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The U.S. SEC has taken some steps to provide clarity to blockchain companies, but it’s widely believed that the agency has not been active enough with respect to providing regulation. Now the securities regulator is apparently interested in engaging an “enterprise-wide data subscription for blockchain ledger data.”  According to the notice on FedBizOpps.gov: “The United […]

The post SEC Launches Search for Blockchain Data Service to Help ‘Monitor Risk’ appeared first on CCN Markets

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Crypto Will Become Much Harder to Hack After Binance Shares Data

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  Eight crypto exchanges have been hacked year-to-date with major exchanges in the likes of South Korea’s Bithumb reporting high-profile security breaches. In the upcoming months, despite the emergence of highly sophisticated technologies and tools employed by hackers, it may become significantly more difficult to hack into crypto exchanges. Why hacking crypto will become harder […]

The post Crypto Will Become Much Harder to Hack After Binance Shares Data appeared first on CCN Markets

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