Ethereum Stakes at Large Scale: Enhanced AI for Bitcoin Miners and Continuous Cryptocurrency Trading
In the ever-evolving world of cryptocurrencies, several significant events have taken place over the past few weeks. Here's a summary of some of the key happenings that have caught the attention of the industry.
SharpLink Gaming, a gaming company with substantial crypto holdings, has been staking nearly all of its assets through custodians Anchorage and Coinbase. Co-CEO Joseph Chalom revealed that the company is exploring higher-yield opportunities through staking on the Linea network.
In the United States, the chairs of the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC)—Paul Atkins and Caroline Pham, respectively—have proposed expanding trading hours to better align U.S. markets with the global, 24/7 economy. This proposal aligns with a report released in July by the Trump administration, directing U.S. agencies to loosen numerous restrictions on crypto trading.
The Japanese Bitcoin treasury firm Metaplanet has secured an impressive $884 million capital raise from shareholders to boost its cash reserves. Analysts predict that Metaplanet will maintain its Bitcoin purchasing pace, even in the event of a potential market downturn this month.
JP Morgan analysts attribute the record-high market cap of publicly traded Bitcoin miners to their high-performance computer pivots, primarily serving the compute power needs of AI firms. Many Bitcoin miners have been planning these pivots for years to adapt to changing market conditions.
Notably, TeraWulf's stock surged by 83% following the announcement of an upsized colocation and AI hosting deal with Fluidstack.
In the realm of Ethereum, an ICO whale moved $645 million worth of ETH into a staking wallet, despite still holding $1.1 billion in funds. There's growing interest in Ethereum staking and becoming validators, with the wait time for validation currently exceeding 16 days, according to Validator Queue.
U.S. Bank has resumed its Bitcoin custody service after a multi-year hiatus, as demand for institutional-grade custodians continues to grow. Strategy, a company, has also continued its Bitcoin accumulation, maintaining its streak the same week its stock received a reiterated Buy rating from Benchmark.
Lastly, Ethereum treasury firm SharpLink Gaming has announced plans to stake a portion of its $3.6 billion ETH holdings on the Linea network once it reaches mainnet.
These developments underscore the ongoing dynamism and growth within the crypto industry, as companies and regulators continue to adapt and innovate in response to market changes.
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