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Stars Arena Sparks Avalanche Activity, El Salvador Launches First Bitcoin Mining Pool

Oct 5, 2023
Author
Tom Couture
Tom Couture AC
Market Update U.S. equity indices are falling today, putting the SPX (-0.68%) on pace for its fifth consecutive negative week and the NDQ (-0.97%) on pace for its fourth negative week out of the last five. Investors are awaiting tomorrow’s employment report for a read on the labor market, as JOLTS and ADP Employment have given mixed signals this week. Crypto markets are declining in line with equities, with $BTC (-0.73%) trading above $28k this morning before paring gains, while $ETH (-1.52%) has been ranging between $1,600-$1,650. $AVAX has shown strong performance this month, rising 8.23% since October 1st. The performance can largely be attributed to a new social app, Stars Arena, launching on the alt-layer 1, sparking the most daily transactions on Avalanche in roughly five months.Source: ArtemisEl Salvador has launched its first Bitcoin mining pool as part of the Volcano Energy project. By leveraging the country’s abundant geothermal energy, Bitcoin blocks will be mined through Luxor Technology’s Lava Pool. Luxor specializes in mining hedging strategies, mitigating risk, and reducing volatility for miners. The Volcano Energy project is El Salavador’s $1 billion renewable energy project, hoping to utilize renewable energy sources in the country to power future Bitc

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