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Cointelegraph

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Cointelegraph

@0x13efc6bab07171d440b226ad32ef867eca400907

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  • Eric Balchunas pushes back on the “Bitcoin = tulips” comparison. Tulips died in 3 years, while Bitcoin has survived and still sits ~250% higher.
  • BitMine buys $199M in Ether as smart money traders bet on ETH decline BitMine Immersion Technologies, the world’s largest corporate Ether holder, continues buying the dip, despite the industry’s most successful traders betting on Ethereum's price fall. BitMine acquired $199 million worth of Ether during the past two days, through a $68 million ETH acquisition on Saturday and another $130.7 million buy on Friday, according to blockchain data platform Lookonchain. With the latest investments, BitMine now holds $11.3 billion, or 3.08%, of the total Ether supply, closing in on its 5% accumulation target, according to data from the StrategicEthReserve. BitMine’s continued accumulations are a strong sign of conviction in Ether's long-term growth potential. The company holds an additional $882 million in cash reserves, which may be used for more Ether accumulation. during the past two days, through a $68 million ETH acquisition on Saturday and another $130.7 million buy on Friday, according to blockchain data platform Lookonchain. With the latest investments, BitMine now holds $11.3 billion, or 3.08%, of the total Ether supply, closing in on its 5% accumulation target, according to data from the StrategicEthReserve. BitMine’s continued accumulations are a strong sign of conviction in Ether's long-term growth potential. The company holds an additional $882 million in cash reserves, which may be used for more Ether accumulation. BitMine’s investment comes amid a significant slowdown in digital asset treasury (DAT) activity, which saw corporate Ether acquisitions fall 81% in three months, from 1.97 million Ether in August to 370,000 in net ETH acquired in November. Despite the slowdown, BitMine accumulated the lion’s share, or 679,000 Ether worth $2.13 billion during the past month.
  • UPDATE: Mining one $BTC now costs $74,600 and $137,800 all-in, pushing public miners to shift toward higher-margin AI and HPC workloads.
  • ADOPTION: YoungHoon Kim, who claims of world’s highest IQ of 276, says he buys Bitcoin every single day.
  • ADOPTION: YoungHoon Kim, who claims of world’s highest IQ of 276, says he buys Bitcoin every single day.
  • LATEST: BNB Chain’s RWA value doubled over the past 30 days, now at $1.6B.
  • UPDATE: Cango marked one year as a Bitcoin miner with Q3 revenue of $224.6M, and 1,930.8 $BTC mined.
  • UPDATE: Cango marked one year as a Bitcoin miner with Q3 revenue of $224.6M, and 1,930.8 $BTC mined.
  • Arthur Hayes warns Monad could crash 99%, calls it high-risk ‘VC coin’ Crypto veteran Arthur Hayes has issued a warning over Monad, saying the recently launched layer-1 blockchain could plunge as much as 99% and end up as another failed experiment driven by venture capital hype rather than real adoption. Speaking on Altcoin Daily, the former BitMEX chief described the project as “another high FDV, low-float VC coin,” arguing that its token structure alone puts retail traders at risk. FDV stands for Fully Diluted Value, which is the market value of a crypto project if all its tokens were already in circulation. According to Hayes, projects with a large gap between FDV and circulating supply often experience early price spikes, followed by deep selloffs once insider tokens unlock. “It’s going to be another bear chain,” Hayes said, adding that while every new coin gets an initial pump, that does not mean it will develop a lasting use case. Hayes said most new layer-1 networks ultimately fail, with only a handful likely to retain long-term relevance. He named Bitcoin (BTC), Ether (ETH), Solana (SOL) and Zcash (ZEC) as the small group of protocols he expects to survive the next cycle. Last year, Monad raised $225 million in funding from venture capital firm Paradigm. The layer-1 blockchain went live on Monday, accompanied by an airdrop of its MON token. Cointelegraph reached out to Monad for comment, but had not received a response at the time of publication.
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