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Tether mints $1b on Tron with no fees
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2 months agoon
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adminTether issued $1 billion in new USDT tokens on the Tron blockchain as stablecoins’ total market cap grew.
Payments giant Tether minted its latest Tron USDT inventory on July 24, as noted by Arkham. The firm paid nothing in transaction fees, and such a move is typically regarded as bullish. The new USDT on Tron came as the total number of stablecoins in circulation has trended upwards since June 29, as a Nansen team member told crypto.news over email.
However, experts from the blockchain analytics firm said it’s difficult to assert whether this pattern indicates upcoming price increases.
“Given there were many other factors at play in October 2023, and now, it’s hard to justify it being the next leg up on its own.” the Nansen analyst explained.
According to Nansen, other factors to consider include both on-chain decentralized exchange volumes, address stats, and off-chain data like exchange-traded fund flows, macro outlooks, and monetary policies.
Current trends suggest the crypto market still has some way to go before technical observers are convinced higher prices are definitely inbound, even if the stablecoin market cap surpassed $160 million after months of stagnation.
The specific stablecoins boosting circulation also revealed how user demand is advancing. Nansen data noted that Circle’s USDC, Tether’s USDT, Maker’s DAI, Paxos’ PYUSD, and USDD.
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ASIC
Hut 8 and BITMAIN To Launch Next-Generation ASIC Bitcoin Miner with Liquid-to-Chip Cooling
Published
2 hours agoon
September 19, 2024By
adminHut 8 Corp. (Nasdaq | TSX: HUT), a leading Bitcoin mining company, has expanded its partnership with BITMAIN Technologies Ltd., the world’s largest producer of Bitcoin mining servers, to launch the U3S21EXPH, a next-generation ASIC miner. This model will be the first mass-commercialized miner to feature direct liquid-to-chip (DLC) cooling within a U form factor.
Hut 8 plans to deploy the new miner in the second quarter of 2025, with an initial hosting agreement handling approximately 15 exahash per second (EH/s). This hosting deployment, facilitated by custom-built data center infrastructure developed in-house by Hut 8, is a key part of the company’s strategy to expand its computing power across Bitcoin mining and AI compute sectors.
“Our partnership with BITMAIN has allowed us to advance our thinking on ASIC compute and create a more scalable model for data center design as we expand our footprint,” said Asher Genoot, CEO of Hut 8. “The U3S21EXPH will be the first miner from BITMAIN broadly commercialized with DLC cooling within a U form factor, making it rack-ready like traditional data center hardware. This innovation bridges critical engineering gaps between Bitcoin mining and AI data center infrastructure in both form factor and cooling technology, and we believe this convergence will enable us to unlock significant synergies and flexibility going forward.”
The U3S21EXPH can achieve an efficiency of 13 joules per terahash, producing up to 860 terahash. It uses DLC cooling, a technology traditionally reserved for high-performance computing (HPC) data centers, to make Bitcoin mining more energy efficient and scalable.
“Asher and Mike have been invaluable thought partners to BITMAIN since the early days of US Bitcoin Corp, where they demonstrated a unique focus on cost-efficient procurement and operations,” said Irene Gao, Vice President of Mining at BITMAIN. “Hut 8’s technical expertise, operating strength, and track record of innovation made this partnership a natural evolution of our relationship as we began the journey of developing next-generation ASIC technology.”
The commercial agreement between Hut 8 and BITMAIN includes a fixed hosting fee and a purchase option for Hut 8 to buy the hosted machines in up to three tranches. This structure allows Hut 8 to assess market conditions before making further investments, minimizing financial risk. If Hut 8 exercises this purchase option, its self-mining capacity could grow from 5.6 EH/s to 20.6 EH/s.
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German Government Shuts Down 47 Exchanges, Says They’re Tied To ‘Illegal Activity’
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2 hours agoon
September 19, 2024By
adminSome customer and transaction data was seized by the government in the process of the investigation, it said. Given that the people behind those activities often reside in other countries outside of Germany, where criminal activities like this are “tolerated or even protected,” the authorities noted it may be nearly impossible for German government officials to prosecute them.
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fetch.ai
FET price rises as CEX inflows rise ahead of Cudos merger vote
Published
8 hours agoon
September 19, 2024By
adminThe Artificial Superintelligence Alliance token rose for the third consecutive day, reaching its highest point since June 27.
Artificial Superintelligence Alliance coin (FET) jumped to a high of $1.5768 on Sept. 19, 127% above its lowest point this month. This rally mirrored the performance of most cryptocurrencies, which surged after the Federal Reserve slashed interest rates.
FET also spiked as data from Nansen showed it had over $7.8 million in centralized exchange inflows in the last 24 hours, representing a 127x jump from the previous average. A big increase in exchange inflows often signals that some holders are starting to sell.
Meanwhile, the number of FET tokens held by smart money wallets continued to rise, reaching a year-to-date high of 5.9 million. These smart money wallets increased to 25, up from last month’s low of 21.
Data also revealed that the volume of FET traded across exchanges surged to over $623 million, its highest point since March this year. According to CoinGlass, FET’s futures open interest rose to over $92 million, its highest level since June 9.
The Artificial Superintelligence Alliance token also gained momentum following several significant AI-related news developments. In China, Alibaba unveiled a series of AI tools, including over 100 open-source AI models.
Meanwhile, OpenAI is reportedly raising funds at a $150 billion valuation, solidifying its position as the biggest player in the AI industry. The company also partnered with T-Mobile, a move that the company believes will boost its earnings by over $39 billion in the long term.
The coin also rose ahead of an important vote in which alliance members will determine whether Cudos will become the next part of the alliance. The current three members of the alliance are Fetch, Ocean Protocol, and SingularityNET.
Cudos, the potential new member, bridges the gap between blockchain and cloud computing by providing decentralized storage solutions. Its token was up by 13%, giving it a market cap of over $68 million.
FET, the biggest AI cryptocurrency, does well when there are good news about the industry. Other AI tokens like Bittensor (TAO) and Akash Network (AKT) have also jumped by double digits in the past few days.
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