Coindesk

Bitcoin's BTC offshoot bitcoin cash BCH chalked out impressive gains in the past 24 hours, bucking the weakness in BTC and the broader market.BCH has gained over 5% from $491.25 to $516 in 24 hours, with trading volume tripling at one point as over 120,000 BCH changed hands. Prices hit a high of $528 at one point, the level last seen on Dec. 18, according to CoinDesk data.While a high-volume rally is said to be sustainable, gains are not backed by improvement in onchain fundamentals. According to CoinDesk's AI research, fundamentals for the Bitcoin Cash network recently hit six-year lows in daily active addresses. Per on-chain data, the network is experiencing a "critical demand deficit," suggesting the recent price action...

Securitize, one of the largest tokenized asset issuers, and oracle provider RedStone have released a whitepaper they say introduces a new model for securely verifying Net Asset Value (NAV) data on-chain, tailored specifically for tokenized private funds.The model, dubbed the Trusted Single Source Oracle (TSSO), is designed to address a key gap in decentralized finance (DeFi) infrastructure: how to reliably prove that each NAV update really comes from the trusted source — and hasn’t been tampered with once it’s on-chain.In traditional crypto markets, oracles pull data from multiple price feeds to guard against manipulation or errors. But for private funds, the NAV is calculated by a single fund administrator. That creates a unique problem: there’s no way to double-check the...

The Bitcoin (BTC) network monthly average hashrate fell about 3% in June, Wall Street bank JPMorgan (JPM) said in a research report Tuesday.The hashrate refers to the total combined computational power used to mine and process transactions on a proof-of-work blockchain, and is a proxy for competition in the industry and mining difficulty. It is measured in exahashes per second (EH/s)."Our sense is the decline was driven by seasonal weather-related curtailment in the U.S., and note that Cipher, IREN and Riot alone operate >80 EH/s in Texas," analysts Reginald Smith and Charles Pearce wrote.Bitcoin mining profitability continues to improve. The bank's analysts estimated that miners earned an average of $55,300 per EH/s in daily block reward revenue last month, a...

The 200-Week Simple Moving Average (200WMA) for bitcoin BTC is approaching $50,000, currently sitting at approximately $49,223, according to Glassnode data. This is one of the very few indicators in bitcoin that has only risen over time. The 200WMA has historically provided significant support levels. During the 2015 bear market, it offered support around $200. During the 2018 bear market, it held above $3,000. In the covid-19 induced crash of March 2020, the price briefly dipped below the 200WMA to around $5,300, although it eventually fell as low as $3,000.However, bitcoin experienced a prolonged bear market from June 2022 to October 2023, during which the price remained below the 200WMA, which was approximately $25,000 for those 15 months.Meanwhile, the 200-Day...

American Bitcoin Corp, a Miami-based mining company majority owned by Hut 8 (HUT) and backed by the Trump family, has raised $220 million from accredited investors, according to a filing with the U.S. Securities and Exchange Commission.The raise topped its target of $200 million, and it also accepted about $10 million worth of bitcoin (BTC) in lieu of cash, the filing details. The placement netted roughly $215 million after fees. The firm sold 11,002,954 Class A shares in total.The fresh capital will be used add bitcoin to the firm's treasury and upgrade its fleet of mining machines.The sons of U.S. President Donald Trump, Eric and Donald Trump Jr, owned American Data Center, which merged with American Bitcoin. According to earlier...