Core Scientific Looking for Expansion Opportunities, Philippines to Block Access to Binance

Mar 25, 2024
Market Update Following the worst week of ETF flows since inception, $BTC (+3.89%) is rebounding, rising to $69.6k, and $ETH (+4.09%) has reclaimed the $3,500 mark. Last week’s outflows totaled $888 million, representing about a fifth of the inflows seen in the previous two weeks. $ONDO, an institutional RWA protocol, is one of the top performers today, rising 7.61% as investors remain optimistic about the future of tokenized assets and their ability to draw institutional capital into the industry. The SPY (-0.15%) and QQQ (-0.22%) are showing modest declines today, but crypto-related equities are showing strong outperformance, with $MSTR, $COIN, and $WGMI gaining 17.27%, 8.83%, and 7.37%, respectively. The key economic data point to watch this week is February PCE, which will be released Friday morning despite the stock market being closed in observance of Good Friday.As Bitcoin mining difficulty has hit a new all-time high, Core Scientific is looking for opportunities to purchase mining machines at a discount following next month’s Bitcoin halving. The halving will reduce Bitcoin’s block reward subsidy from 6.25 BTC to 3.125 BTC, effectively cutting miners’ revenues in half. It is expected that some of the less efficient miners will become financially distressed as a r

Unlock this article with a FREE 30-Day Trial!

An FSI Pro, or FSI Crypto subscription is required in order to access this content.

*Free trial available only on a monthly plan

Reports you may have missed

MARKET UPDATE Crypto is broadly lower today as geopolitical conflict continues to weigh on risk assets, with BTC -0.95% falling to $60k and ETH -1.99% approaching the low $2,300s. Aptos (APT -6.64% ) is one of the few gainers in the top 100 tokens as they have strengthened their presence in Japan via an acquisition of HashPalette, a Japanese NFT service provider and developer of Palette Chain. AAVE -2.27% is also showing slight gains following...

CRYPTO MARKET UPDATE Crypto prices have rebounded slightly following yesterday's sharp selloff, with BTC -0.95% climbing back above $61,000 and SOL -1.76% moving above $145, while ETH -1.99% is lagging, trading around $2,400. Among today's outperformers is SUI -1.47% , which appears resilient despite a $115 million token unlock yesterday. Oil is partially retracing its early rally, gold is lower on the day, and yields are moving higher, suggesting at least a temporary reversal of...

Sign in to read the report!

We have detected you are an active member!

Ray: cc7da3-396ed3-9470e8-d09e9a-23947d