BitDigest December 3 · Issue #796
- Crypto prices in the green trading in new trading bands
- Democratic law makers have introduced a bill making it illegal for a stablecoin to be issued without a banking charter thereby defining stablecoins as a form of bank deposit.
- Grayscale announces ETHE stock split
Weekly Stock Review
Highlights from the North American listed crypto, blockchain and mining stocks:
- Hive Blockchain (TSX.V: HIVE) returned 35.2% generating the top weekly return among the tracked North American equity universe.
- The premium to NAV for Grayscale’s Bitcoin Trust (OTCQX: GBTC) jumped from around 20% to 30% as the bitcoin broke its’s all time high while the premium for the Ethereum Trust (OTCQX: ETHE) also doubled over the past weeks.
- As released below, the the Ethereum Trust (OTCQX: ETHE) announced a 9-for-1 share split.
- Canadian miner Hive Blockchain (TSX.V: HIVE) saw revenue increase 8% to $13 million with net income per share turning positive ($0.03) during the period ending September 30th due to a growing focus on mining ether.
- Ebang International (NASDAQ: EBON) announced a new technology licensing agreement proving the Chinese crypto hardware provider with access to “ASICBoost” a process to increase the performance of bitcoin mining by 20%.
- TAAL (CSE: TAAL), the first and only publicly traded BitcoinSV company, reported a net loss of $5.9 million on sales of $245 thousand; over a 9 month period, Q3 sakes dropped 32% from $11.6 million in 2019 to $7.8 million in 2020.
- Canaan (NASDAQ: CAN) was the worst performer falling 41.1% as the Chinese hardware supplier reported third quarter revenue of RMB 163 million ($24 million) a year-over-year decrease of 75% and quarter-over-quarter decrease of 8.5%.
- Bitcoin (BTC) underperformed the public market this week, returning 2.5% compared to an industry mean of 3.9% and median of 7.8%.
The Headlines
Damaging Stablecoin Bill Introduced to House
Crypto Mom Says a More Innovative Approach to Regulate Crypto is Needed
Ukrainian Crypto Bill Passes First Parliamentary Hearing
Grayscale Announces Stock Split for ETHE
Visa Partners with USDC
Market Data
Only 5% of Ripple Customers are in American
New Phishing Attacks on MetaMask
Exchange, Custody and Product News
OKEx CEO Explains Platform Updates
Coinbase Pro Adds New Token Trading
Thoughts on the Ecosystem
Entire World Going to Digital Payments
Bitcoin Price Would Be Higher If Easier to Buy
Reports you may have missed
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The crypto market is pulling back from its recent surge, with $BTC falling below $65,000, $ETH trading under $3,200, and $SOL fighting to stay above $150. As expected, altcoins are also generally declining, although a few notable performers are scattered across the market. Currently, $BONK and $WIF, two prominent memecoins on Solana, are showing resilience, up 12% and 6%, respectively. Additionally, $HBAR initially doubled in price following reports that Blackrock...
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After significantly outperforming equities leading up to its halving event on Friday, BTC-1.30% continued its upward trend over the weekend, now trading just below $66k. ETH-0.89% has generally followed suit, although continuing to lag behind BTC, with its current price around $3200. SOL-4.13% , meanwhile, has continued its strong rebound from the recent price slide, reaching $156 yesterday, currently trading slightly below that level. The crypto market is broadly performing well...
