Altcoin News by Thebittimes.Com

As the crypto market’s volatility continues, the total stablecoin market capitalization declined by 0.25% over the past 24 hours, with an average price change of 0.71%.  The downward movement comes after the largest stablecoin by market cap, USDT, shows signs of depeg . USDT’s price fell by 0.23% over the past 24 hours and plunged to a local bottom of $0.997 after the asset lost roughly $270 million of its market capitalization. USDT price – June 15 | Source: Trading View However, data from Binance shows that USDT is back to the $1 mark, while Trading View’s data suggests otherwise — displaying a price of $0.9974 at the time of writing. You might also like: Binance’s Cyprus unit files for deregistration USDT to USD price chart – June 15 | Source: Binance On the other hand, USDC’s market cap has risen by over $40 million since USDT lost its peg to the US dollar. USDC’s 24-hour trading volume has also risen by 60% over the past day. DAI and BUSD have also w...

On-chain data and technical analysis shows strength in ARB price, even after a weekend filled with rumors and sell-offs. Arbitrum suffered a big blow during the April 1 to April 2 weekend due to a conflict between the ARB token holders and the Arbitrum Foundation on the allocation of $750 million ARB tokens worth around $900 million. Data from on-chain analysis firm Arkham Intelligence shows that the transfer of $50.5 million out of the disputed allocation of 750 million ARB tokens. They shared with Cointelegraph that, “Only 50.5 million of those tokens have been moved. 10 million tokens have been sent to be sold on exchanges, 40 million have been loaned to Wintermute and the remaining 500K remain untouched in a multisig wallet (labeled Gnosis Safe Proxy).” On April 3 morning, the Arbitrum Foundation conceded to the community's opposition and decided to break up the said proposal in question into multiple proposals for allocating the funds for the project's ecosystem growth. ...

The 2022 bear market is impacting BTC miners in more extreme ways than previous downturns, especially with so many publicly listed miners struggling with their debt obligations. Bitcoin (BTC) mining is the backbone of the BTC ecosystem and miners’ returns also provide insight into BTC’s price movements and the health of the wider crypto sector. It is well-documented that Bitcoin miners are struggling in the current bear market. Blockstream, a leading Bitcoin miner recently raised funds at a 70% discount. Current mining activity shares similarities to historic BTC bear markets with a few caveats. Let’s explore what this means for the current Bitcoin cycle. Analysis shows that based on previous cycles the bear market may continue Bitcoin mining profitability can be measured by taking the miner’s revenue per kilowatt hour (kWh). According to Jaran Mellerud, a Bitcoin analyst for Hashrate Index, a BTC mining bear market has a sustained period of revenue per kWh of less than $0.25. Under h...