Bitcoin | Ethereum | Altcoin

💰 Marathon Digital boosts Bitcoin production by 21% YoY in April, defies halving challenges Marathon Digital reported a significant year-on-year surge in its Bitcoin production last month, defying expectations surrounding the halving event. In its April operational report, Marathon revealed that it produced 850 BTC, marking a notable 21% increase on the year-on-year metrics. This uptick is primarily attributed to the 15% boost in its operational hashrate, now standing at 21.1 exahash. Source @Bitcoin_Ethereum_Altcoins

💰 Hong Kong’s spot ETFs experience decline in bitcoin inflows on second trading day The three spot bitcoin exchange-traded funds in Hong Kong saw inflows of 174.73 BTC ($10.3 million) on the second trading day yesterday, compared to an inflow of 3,910 BTC ($240 million) on the first trading day. The trading volume stood at over $9.7 million on both days, according to SoSoValue data. The caveat with the inflow data is that ETF shares bought via in-kind subscriptions of physical Bitcoin do not generate cash inflows denominated in dollar terms, so they are not included in daily net inflow statistics, SoSoValue clarified. Source @Bitcoin_Ethereum_Altcoins

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💰 Standard Chartered Warns Bitcoin Price Could Fall to $50K Standard Chartered Bank has warned that bitcoin’s price could potentially decline to $50,000. The head of digital asset research at the bank attributed this forecast to a mix of crypto-specific factors and broader macroeconomic influences. Additionally, he warned about the risk of liquidation for some spot exchange-traded fund (ETF) positions, emphasizing that over half of them are currently underwater. Source @Bitcoin_Ethereum_Altcoins

💰 MicroStrategy decentralized identity solution leveraging Ordinals attracts criticism from core Bitcoin proponents MicroStrategy’s chairman, Michael Saylor, revealed the firm’s ambitious plan to introduce a decentralized identity solution called MicroStrategy Orange on the Bitcoin network during his Bitcoin For Corporations talk on May 1. This initiative aligns with MicroStrategy’s transformation into a Bitcoin-focused development company. The Virginia-based company holds 214,400 Bitcoin, valued at around $12.4 billion, making it the largest public holder of the flagship digital asset. Source @Bitcoin_Ethereum_Altcoins

💰 Bitcoin Miners Log Second Highest Monthly Revenue in April, Despite Falling Hash Value On May 1, 2024, Bitcoin’s hashprice significantly decreased to approximately $44.97 per petahash, a sharp decline from $50 just two days prior. The hashprice represents the expected daily earnings from 1 petahash per second (PH/s) of mining power. Despite the downturn in hashprice, April’s revenue remained strong, marking the second-highest in the last 12 months. Source @Bitcoin_Ethereum_Altcoins

💰 Liquidation heatmap shows volatility ahead as Bitcoin drops to $57k Bitcoin teeters around the $57,000 mark, market analysts and traders are glued to liquidation heatmaps, seeking insights into the next big price movements. Recent events have shown how quickly sentiment can shift, with $381 million liquidated in just 24 hours. But what's next? Hidden within layers of data are critical price points laden with massive liquidations waiting to be triggered. Source @Bitcoin_Ethereum_Altcoins

🇺🇸 McHenry slams Gensler for misleading Congress about 🪙 Ethereum’s classification House Financial Services Committee Chairman Patrick McHenry has accused SEC Chair Gary Gensler of misleading Congress concerning the classification of Ethereum during his testimony in April 2023. The accusation comes amid escalating tensions over the regulatory approach to digital assets in recent months, with some industry participants filing lawsuits against the watchdog for overstepping its authority. Source @Bitcoin_Ethereum_Altcoins

📊 Ether and bitcoin derivatives traders are losing confidence in the potential for higher prices, analyst says According to The Block's Data Dashboard, implied volatility (IV) for ether ATM options has dropped from over 88% to a current IV of around 60% for one week, one month and multi-month expires. IV for bitcoin ATM options for the same expiry ranges has also fallen, from a mid-month high of over 77% to a current reading of below 51%. Source @Bitcoin_Ethereum_Altcoins

💰 Bitcoin testnet griefing attack generates three years worth of blocks in one week, frustrating developers A griefing attack on the Bitcoin testnet network disrupted its normal functioning. A griefing attack is when someone intentionally spams transactions on a network, increasing its workload and throwing off its usual operations. Griefing attacks often frustrates other network users, as it's harder to run applications on top of the system, while not financially benefiting the attacker. Source @Bitcoin_Ethereum_Altcoins