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On the Margin Newsletter: A look at crypto’s performance halfway through 2024
On the Margin Newsletter: A look at crypto’s performance halfway through 2024

Plus, what the latest economic data means for interest rates

Blockworks·2024/07/05 16:52
U.S. unemployment rate hits 4.1%, highest since 2021
U.S. unemployment rate hits 4.1%, highest since 2021

Share link:In this post: The U.S. unemployment rate rose to 4.1% in June, the highest since November 2021, despite an increase of 206,000 jobs. Long-term unemployment increased, and racial disparities in joblessness persisted, with higher rates for Black and Asian workers. Federal Reserve officials remain cautious about adjusting interest rates.Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this

Cryptopolitan·2024/07/05 16:22
Despite Mt Gox sell-off, market makers and investors are cautiously optimistic on BTC
Despite Mt Gox sell-off, market makers and investors are cautiously optimistic on BTC

Quick Take News of Mt Gox moving to repay creditors has sparked a broad crypto market sell-off. Market makers and investors, however, remain cautiously optimistic about bitcoin’s prospects.

The Block·2024/07/05 15:55
Grayscale Ethereum Trust discount to NAV quietly switches to a premium ahead of anticipated spot ETF launch
Grayscale Ethereum Trust discount to NAV quietly switches to a premium ahead of anticipated spot ETF launch

The Grayscale Ethereum Trust (ETHE) discount to net asset value (NAV) has quietly become a premium ahead of an anticipated spot ETF launch.The ETHE premium to NAV hit 0.31% on July 3, according to YCharts data.

The Block·2024/07/05 14:07
Crypto price correction continues despite equity indices gaining on robust US non-farm payrolls data
Crypto price correction continues despite equity indices gaining on robust US non-farm payrolls data

Price corrections continued in the wider cryptocurrency market, despite equity indices testing new highs following the release of U.S. non-farm payrolls data.

The Block·2024/07/05 13:49
More Details About the Mt. Gox Bitcoin Repayments: What’s Next?
More Details About the Mt. Gox Bitcoin Repayments: What’s Next?

The commencement of Mt Gox distributions comes as BTC struggles to remain above $54,000 after plunging roughly 5% in the past 24 hours.

Cryptopotato·2024/07/05 12:46
Flash
16:43
Ethereum Foundation Co-Executive Director Hsiao-Wei Wang announces resignation
Ethereum Foundation Co-Executive Director Hsiao-Wei Wang announced her resignation, and the Ethereum community is discussing the future of the Ethereum Foundation leadership.
16:25
Last week, U.S. Strategic Petroleum Reserve crude inventories decreased by about 9.1 million barrels, reaching their lowest level since 1983.
BlockBeats news, on June 23, according to market sources, last week the US Strategic Petroleum Reserve crude oil inventory decreased by about 9.1 million barrels to 331.2 million barrels, the lowest level since 1983. (Golden Ten Data)
16:24
Mining company HIVE Digital rises nearly 22%, its deployed A40 GPU clusters approach H100-level performance in certain scenarios
BlockBeats news, June 23, according to Bitget market data, HIVE Digital Technologies, a Bitcoin mining company, saw its stock price surge significantly on Monday, with intraday gains exceeding 22%. Market sentiment shifted towards "bullish". The main catalyst for the rally came from an AI study by Columbia University, which validated the performance of the company's GPU cluster at its data center in Paraguay. The study showed that the Nvidia A40 GPU cluster deployed by HIVE, through software optimization, performed nearly at the level of Nvidia H100 in specific large model training tasks, especially excelling in pre-training tasks with approximately 1.4 billion parameters. According to disclosures, the experiment’s training process was completed by a research team in New York, while the actual computing was carried out at the Asunción data center in Paraguay, more than 5,000 miles away, achieving cross-continental remote iterative training. HIVE stated that this result validated the feasibility of a "geographically distributed computing architecture" and supports its strategy of building AI computing infrastructure in regions with low electricity prices.Company executives said the research proves that high-performance computing is no longer limited by geography and strengthens its transition path from Bitcoin mining to AI computing infrastructure. Meanwhile, HIVE is advancing its high-performance computing park construction plan in Yguazú, Paraguay, including a 100MW substation and subsequent Tier III data center, expected to be operational in the second half of 2027.
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