Schlagwort: crypto business

• Hedera (HBAR) price rose to above $0.065 on Monday morning.
• FedNow has added support for Dropp Inc, a Hedera-powered platform that now joins the Fed’s list of service providers.

The Hedera (HBAR) price soared to above $0.065 on Monday morning (ET hours) as the cryptocurrency led the top 100 coins by market cap. 

According to data from CoinGecko, Hedera’s price spike was accompanied by a staggering 1,290% increase in its 24-hour trading volume as of 11 am ET, with buying pressure seeing over $224 million HBAR tokens traded.

The cryptocurrency, whose price had dipped below $0.060 last week, was up 17% and rising at the time of writing and 25% higher over the past 30 days.

Whys is HBAR price up today?

Hedera’s native token was pumped on multiple occasions last month and early August following key partnerships and adoption efforts with major mainstream players. These included partnerships with South Korea multinational automakers Hyundai and Kia, which introduced an AI-enabled solution for tracking supply chain carbon emissions. 

Also revealed recently is a partnership with global payments giant Mastercard.

The adoption of HBAR across these companies saw its price rise to its highest price since May. Profit taking took bulls back to lows of $0.56, but bulls are looking to reclaim the upper hand. The gains come amid new buy pressure for HBAR following the Federal Reserve’s FedNow support for  Dropp Inc, a Hedera-powered platform. Dropp is now on the list of service providers for the Fed program.

As CoinJournal recently reported, FedNow was launched to offer banks and credit unions access to instant payments. Hedera, on the other hand, is a decentralised public network based on the Hashgraph algorithm.

The post HBAR price soars as FedNow adds support for Hedera appeared first on CoinJournal.

• Hut 8 posted revenue of $14.3 million (19.2 Canadian Dollars), which had fallen $18.3 million during the quarter compared to Q1, 2023.
• The company mined 399 Bitcoin (BTC) but sold a total of 396 BTC for $10.9 million (CAD 14.7 million) during the quarter.

Hut 8 has announced its operating and financial results for Q2, 2023. In details published on Monday August 14, the Bitcoin miner indicated its revenue fell $18.3 million (CAD 24.6 million) during the quarter ending June 30.

Hut 8 posted revenue of $14.3 million in Q2, 2023

The Toronto-based cryptocurrency mining company highlighted revenue of $14.3 million (CAD 19.2 million) during the quarter, compared to $32.5 million (CAD 43.8 million) posted in Q2, 2022. 

Meanwhile, the miner reported a loss of $12.4 million (CAD 16.7 million) for Q2, 2023 with per-share loss of 6 cents (8 Canadian cents).

Hut 8 also announced that it mined 399 Bitcoin (BTC) in the quarter, this being roughly 58% down on mined bitcoin for the same quarter in 2022. The company attributes the decrease to the increase in Bitcoin mining difficulty, impact of operations following issues at its North Bay Facility, as well as electrical issues encountered at the Drumheller facility.

“While we continued to face mining challenges during the second quarter at Drumheller, which are reflected in decreased revenue and fewer Bitcoin mined, we were successful in strategically managing our costs,” Shenif Visram, CFO at Hut 8, said in a press release.

Hut 8’s financial results showed that the company’s self-mined BTC balance as of June 30, 2023 – which it held in custody or had pledged as collateral – stood at 9,136 BTC. The holdings had a market value of $274 million (CAD 368.7 million). The miner sold a total of 396 BTC for $10.9 million (CAD 14.7 million) during the quarter.

The Bitcoin mining giant, which secured a $50 million credit facility from Coinbase in June, also reported on the progress of its highly anticipated merger with US Bitcoin (USBTC). A shareholder vote on the merger is expected on September 12, the company said in a separate announcement.

The post Bitcoin miner Hut 8 revenue declined by $18.3 million in Q2 appeared first on CoinJournal.

• A Majority of EPL clubs played their opening matches over the weekend.
• The only teams that have not played are Manchester United and Wolves, which is scheduled for today at 22:00 GMT+3.
• The English Premier League has added some impetuous into the Chancer presale.

The English Premier League (EPL) 2023-24, one of the most followed and watched games, just kicked off and the presale of Chancer, the world’s first decentralized predictive market-making platform, is gaining momentum. At press time, 30,047,387 CHANCER tokens had been sold raising $1,331,800.21.

The Chancer presale saw increased activity over the weekend as EPL teams played their first matches over weekend and it is expected to gain momentum as the league progresses until its mainnet launch in Q1 2024.

What is Chancer?

Chancer is developing a cutting-edge prediction markets platform based on the principles of user empowerment and decentralization. It aims to primarily function as a peer-to-peer (P2P) betting facilitator rather than a typical betting establishment. It will allow individuals to create and control their own betting markets, a strategy that democratizes the betting market.

The appeal of Chancer, which Adam and Paul Kelbie co-founded, goes far beyond traditional sports betting. Users of the platform will be able to wager on any event they can think of, from the results of football matches including EPL matches and Champions League final to more specialized wagers between friends.

Chancer’s value proposition heavily emphasizes its adaptability, which, along with the company’s plans to become a DAO, distinguishes it from other cryptocurrencies and betting platforms and explains why so many investors are interested in finding out how to buy CHANCER.

At the heart of the Chancer ecosystem is the CHANCER token, which is the primary currency for transactions within the ecosystem.

The value of the CHANCER token is linked to the success of Chancer’s P2P betting concept. As the project grows and widens its user base, the demand for CHANCER tokens is expected to also see an increased uptick leading to a potential price surge. That said, the value of CHANCER has also been rising throughout the presale with each presale stage.

Chancer also stands the chance of attracting users who are currently not attracted to the traditional online betting platforms which are centralized. One of the greatest Chancer prepositions is the ability for users to create their own wagers on anything including activities between friends.

Why is the EPL causing so much excitement around CHANCER presale?

A majority of Chancer investors see it as a great platform for creating betting markets and betting for the EPL matches besides other competitions. And it goes without saying that the EPL is the most followed football league in the world courtesy of the many top talents playing in the various teams.

Although the American Major League Soccer (MLS) has been seeing some traction since Lionel Messi moved to the Inter Miami club, the MLS is still far below the EPL in terms of popularity.

When Chancer officially launches in the first quarter of 2024, the EPL is likely to be one of the most betted competitions on the platform before the 2024 Olympics games begin later on in the year.

Should you invest in Chancer now?

Well, the decision to invest in any project is the prerogative of an investor and requires due diligence especially when it comes to cryptocurrency projects because of the volatile nature of cryptocurrencies.

So, far Chancer has shown its capability to revolutionize the betting industry which was valued at over $2B in 2022. If successful, the project will be a force to reckon with within the betting circles seeing it is introducing an opportunity for CHANCER token holders to create their own wagers on basically anything.

To purchase your CHANCER token, you can visit Chancer’s official website here.

The post Chancer gains momentum as the English Premier League 2023-24 kicks off appeared first on CoinJournal.