Crypto News

Genesis Digital Assets Limited (GDA) is expanding its bitcoin (BTC) mining operations in West Texas with a 50-megawatt (MW) energization increase across its Pyote and Vernon sites.GDA is a private company with offices in the United Arab Emirates and the United States, with a total power capacity of over 600 MW. While the company refused to disclose its total hashrate, GDA Executive President Abdumalik Mirakhmedov claimed it to be “one of the largest bitcoin mining companies in the world in terms of this metric.”For comparison, Bitdeer (BTDR) one of the biggest public bitcoin mining companies in terms of infrastructure, has almost 900 MW worth of capacity, while heavyweights MARA Holdings (MARA) and Riot Platforms (RIOT) have more than 1 gigawatt...

Experts agree that while memecoins can attract users, their volatility poses risks to the broader crypto ecosystem. One expert argued that the collapse of memecoins can harm liquidity and emphasized the need for investors to be cautious and screen for fraudulent tokens. Memecoin Losses Prompt First-Time Crypto Users to Quit Coinbase CEO Brian Armstrong recentlySource link

Payments-focused cryptocurrency XRP is down but not out, whereas the outlook for dogecoin (DOGE) appears grim, based on an analysis of Fibonacci retracement levels.XRP reached a peak of $3.40 in mid-January and has since entered a downtrend, with the price dropping 25% this month to $2.28, according to data from TradingView and CoinDesk.While the sell-off has been steep, it corresponds to only a 38.2% Fibonacci retracement of the rally that started at Nov. 4's low of 49.5 cents through the Jan. 16 high of $3.40. A retracement is a drop from the principal trend.That's positive news for XRP bulls, as that level, along with the 50% and 61.8% ratios, indicates potential areas for the price to resume its previous trend,...

Cathie Wood's investment management company ARK Invest snapped up $8.7 million of Coinbase (COIN) shares on Tuesday as the rout in the cryptocurrency saw crypto equities slide.ARK added 41,032 COIN shares to its Next Generation Internet ETF (ARKW), as the crypto exchange's stock fell nearly 6.5% on the day to $212.49.Meanwhile, ARK sold 98,060 shares of its own spot bitcoin ETF (ARKB), worth around $8.6 million.The rout in the cryptocurrency market on Tuesday, saw bitcoin (BTC) fall to a three-month low below $87,000, brought about record outflows from spot bitcoin ETFs in the U.S. The funds registered net outflows of nearly $940 million, the largest single-day sale since they began trading in January 2024, according to data tracked by SoSoValue.The...

This is a paid promotional article. We encourage you to conduct your own due diligence before participating in any related transactions. Dogecoin and Shiba Inu continue to slide, leaving meme coin investors wondering when this current downturn will end. Both coins have struggled to gain traction in early 2025. Meanwhile, one crypto expert is watchingSource link