Kategorie: Bitcoin News

Key takeaways

• Bitcoin dropped below the $26k level on Thursday, with traders losing nearly $1 billion in the process.

• Chancer’s stage two presale is now closing in on the $1.5 million mark.

The cryptocurrency market has been extremely bearish since the start of the week. The prices of most cryptocurrencies are down by more than 5% over the last seven days.

Despite the bearish sentiment, Chancer’s presale is set to hit another benchmark as stage two is approaching the $1.5 million mark.

Bitcoin drops to the $25k zone

Bitcoin, the world’s leading cryptocurrency by market cap, has been extremely bearish over the past 24 hours. BTC lost nearly 10% of its value and dropped to the $25,300 level late on Thursday.

The bearish trend saw long traders lose nearly $1 billion. However, the market is starting to recover, with Bitcoin and others setting new support levels. At press time, the price of Bitcoin stands at $26,543. 

What does this mean for Chancer?

The bearish performance could see some investors take advantage of the discount price to invest in more cryptocurrency projects. Investors could be looking to purchase more bitcoins and other cryptocurrencies ahead of a likely bullish cycle.

As more investors look for projects to invest in, Chancer could be one of the projects they might consider. 

Chancer is one of the exciting and new projects currently in the cryptocurrency space. With stage two presale set to hit an important milestone, it is clear Chancer is gathering momentum amongst retail investors. 

The Chancer team is currently developing a unique Web3 peer-to-peer (P2P) custom betting platform that would make it possible for users to live-stream betting events. 

Chancer wants to decentralise the betting industry and is leveraging blockchain technology to achieve its objectives. 

With Chancer, there are no restrictions to betting opportunities for users. This implies that users can bet on a wide range of events, beyond traditional sports and casino bets. 

The Chancer presale is in its second stage and has raised nearly $1.5 million of the $2 million required. In the second presale, CHANCER is selling for $0.011 USDT but will be increased to $0.012 in the third stage. 

Funds raised from the multiple presale events will be geared towards building Chancer’s decentralised P2P betting platform. 

The developers will use the funds raised from the various funding rounds to build a P2P betting platform. 

According to their whitepaper, Chancer users will have access to a wide range of features, including, betting markets in real-time and based on user interests, social media connections, and expertise. 

Furthermore, with Chancer, users will no longer have to deal with the problems associated with using bookmakers when betting as they would be allowed to set up their custom P2P betting markets. 

An important feature of Chancer is that users can bet on various activities. Users can bet on important sporting or political events or trivial ones like the first to complete a task amongst friends. 

CHANCER to go for $0.012 in the third presale stage

Chancer’s second presale stage will be completed soon and the team will move to the next phase. In this current stage, the CHANCER token is going for $0.011 USDT

However, the team will increase the token price to $0.012 in the third presale round. Funds generated from the presale will be used to develop Chancer’s suite of products. There would be 12 presale events, with an accumulated target of $15 million. 

The CHANCER token will power numerous activities within the ecosystem. Token holders can create and invest in markets within the Chancer ecosystem. Furthermore, token holders can also create, participate in, and profit from their very own predictive markets. 

The CHANCER token can be purchased using numerous wallets, including, Trust Wallet, MetaMask, Coinbase Wallet, and Rainbow. 

Visit the Chancer website to get more information about the presale. 

Should you invest in Chancer now?

The recent bearish trend in the market could see more investors troop into the market as they look for buying opportunities. 

Investors could be looking to invest in projects in their early stages and Chancer could be one of the projects to consider due to its unique native. 

By decentralising the betting ecosystem, Chancer could gain massive adoption within the Web3 space and beyond. The adoption of the Chancer platform could result in a rally by its native CHANCER token. 

The post Bitcoin dropped below $26k in sudden crash: Will traders suffer more losses appeared first on CoinJournal.

• Bitcoin Depot reports an 18% annualised growth in its Q2 revenue.
• The Bitcoin ATM operator also updated its full-year guidance today.
• Bitcoin Depot stock is in the green only marginally on Monday.

Bitcoin Depot Inc says its revenue jumped 18% to a record $197.5 million in the second quarter. The stock is still only marginally in the green at writing.

Bitcoin Depot reports a big increase in loss

Shares of the Bitcoin ATM operator are having a hard time this morning primarily because the Georgia-based company lost $6.1 million in its recently concluded quarter, down an alarming 249% versus last year.

Its adjusted EBITDA, though, went up 54% to $19.8 million in Q2. Brandon Mintz – the Chief Executive of Bitcoin Depot said today in the press release:

We’re in position to further strengthen our balance sheet as we execute on our growth strategy … we’re positioned to support mass crypto adoption as the leading Bitcoin ATM network.

Note that the U.S. firm debuted on Nasdaq only last month on July 3^rd.

Bitcoin Depot’s guidance for the full year

Bitcoin Depot had $20.5 million worth of total operating expenses in its second quarter – up significantly from $12 million a year ago.

In Q2, the Nasdaq-listed firm partnered with a bunch of notable names including Stinker Stores, Jacksons Food Store, Gas Express, FastLane etc. According to CEO Mintz:

We’ve announced multiple partnerships and expanded our BDCheckout program. We look forward to increasing the number of our Bitcoin access points across North America.

Just days ago, he said the Bitcoin ATM space was ready for consolidation. Bitcoin Depot Inc now forecasts its revenue to grow by 8% to 13% this year on up to 44% increase in adjusted EBITDA.

The post Recently listed Bitcoin Depot reports record revenue for its Q2 appeared first on CoinJournal.

• CleanSpark narrowed its loss in its fiscal third quarter.
• The bitcoin mining company had a blockbuster July.
• CleanSpark shares are up over 150% YTD at writing.

Bitcoin miner CleanSpark Inc is trading slightly up in extended hours after reporting a narrower-than-expected loss for its fiscal third quarter.

CleanSpark Q3 financial highlights

Lost $14.2 million versus the year-ago $29.3 million

Per-share loss also narrowed from 40 cents to 12 cents

Revenue jumped 47% year-on-year to $45.5 million

Consensus was 17 cents loss on $45.7 million revenue

Ended the quarter with $125 million of cash and bitcoin

The bitcoin mining company now has assets worth more than liabilities on its balance sheet. Gary Vecchiarelli – the Chief Financial Officer of CleanSpark said today in the press release:

I like the flexibility of our balance sheet and our operational performance. We have all pieces in place to extend our strong track record of growth and operational excellence.

CleanSpark had a blockbuster July

CleanSpark had its Georgia location go live in July that added more than 15,000 miners and 50 megawatts of power, as per the press release.

The Nasdaq-listed firm trailed only Marathon Digital and Core Scientific in terms of the number of bitcoin mined last month. According to its CEO Zach Bradford:

We have fully funded our growth to 16 EH/s, including miners, facilities, and other infrastructure. We continue to build on our track record of executing on commitments.

The hash rate improved to 9 EH/s in its recently concluded quarter. At writing, shares of CleanSpark Inc are up more than 150% versus the start of 2023. Its peer Marathon Digital also reports its quarterly update earlier this week (read more).

The post CleanSpark reports a 47% annualised growth in quarterly revenue appeared first on CoinJournal.

Key takeaways

• Bitcoin has been trading below the $30k level in recent days, but favourable inflation data could push it higher.

• Chancer’s stage two presale is now close to the $1.2 million mark. 

The cryptocurrency market has been choppy over the past few weeks, with prices of most coins stuck within certain regions.

BTC has been trading below the $30k level for the past few days, with market experts still believing it could drop lower in the near term. 

Bitcoin stays below $30k

Bitcoin, the world’s number one cryptocurrency by market cap, began the week in a positive manner. BTC has added more than 1.5% to its value so far today but continues to trade below the $30k psychological level.

At press time, the price of Bitcoin stands at $29,424. Bitcoin could be heading towards the $30k level over the new few hours or days if the inflation data in the United States comes out favourably. 

The inflation data could determine if the US Federal Reserve continues its rate hikes or will stop them. Halting rate hikes could be a bullish sign for Bitcoin and the broader cryptocurrency market. 

What is Chancer?

The recent bearish trend in the market has not affected Chancer’s ongoing presale event. Chancer is a web3 project that seeks to decentralise the betting ecosystem. 

It is a Web3 peer-to-peer (P2P) custom betting platform allowing users to live stream betting events. Chancer will operate as a completely decentralised online gaming platform.

Chancer is building a platform that will offer improved services compared to what they are getting from the traditional sports and casino betting platforms. With Chancer, users can bet on any event, even ones they make up themselves. 

The funds raised from the funding rounds will be used to build the decentralised P2P betting platform. According to their whitepaper, Chancer users will have access to a wide range of features, including betting markets in real-time and based on user interests, social media connections, and expertise. 

Users will also be able to set up their custom P2P betting markets, allowing others to bet on selected events and games. 

Chancer’s second presale generates nearly $1.2 million

Chancer’s presale event will occur in stages, and the second stage is currently underway. The team has raised nearly $1.2 million of the $2 million required in the second stage. 

Chancer will use the funds from the presale to develop its products. The team will conduct 12 presale events, with a target of $15 million. 

Currently, CHANCER, the native token of the ecosystem, is going for $0.011 per token, with the price set to increase to $0.012 in the next presale round.

The native token has numerous utilities within the ecosystem. Token holders can create markets and also invest in markets launched by other users.

By holding the token, users can create, participate in, and profit from their very own predictive markets. 

You can purchase the CHANCER tokens by connecting your Web3 wallet to the Chancer website. Trust Wallet, MetaMask, Coinbase Wallet, and Rainbow are some supported wallets. 

Visit the Chancer website to get more information about the presale. 

Should you buy CHANCER tokens now?

Investing in a project during its presale or private sale is usually one of the best decisions investors make. This is because the tokens are not available to the general public yet. 

With Chancer, it could be an excellent idea to invest in the project now. Chancer is a promising project and could gain massive adoption over the coming months and years.

If the adoption level rises, CHANCER’s price could skyrocket, and early investors could benefit. Early investors in projects such as Ethereum, Solana, Dogecoin, and Shiba Inu, recorded thousands of percentages in ROI. 

If CHANCER gains the necessary adoption combined with a Bull Run, its price could soar higher in the medium to long term. 

The post Bitcoin stays below $30k: Will inflation data push it higher? appeared first on CoinJournal.