News – Page 33

Meta’s Reality Labs Hits $1 Billion in Q4 Revenue Despite $4.65 Billion in Operating Loss

Reality Labs recorded its most successful quarter to date despite sustaining significant financial losses. The division clocked over $1 billion in revenue in the last quarter of 2023, primarily driven by sales of its Quest headsets and the Ray-Ban Meta smart glasses. Reality Labs’ total revenues for 2023 amounted to slightly below $1.9 billion, with over half of the annual numbers generated in the fourth quarter. The group is expected to continue incurring substantial losses in the coming periods, with a total loss exceeding $16 billion in 2023.

Source: Chayanika Deka, 2024-02-03; https://cryptopotato.com/metas-reality-labs-hits-1-billion-in-q4-revenue-despite-4-65-billion-in-operating-loss/

Bitcoin Price Recovers as Demand Remains Positive: CryptoQuant

On January 23, bitcoin touched a two-month low of $38,000, becoming undervalued in the short term. Short-term holders’ unrealized profit margins decreased to 0%, and they sold their assets at a loss for the first time since October. Another sign of BTC’s undervaluation was Bitcoin miners getting “extremely” underpaid. This may have led to an uptick in selling pressure from miners as they the biggest selling wave since May 2023 a couple of days ago.

Source: Mandy Williams, 2024-02-05; https://cryptopotato.com/bitcoin-price-recovers-as-demand-remains-positive-cryptoquant/

Bitcoin Soars Toward $43K: How High Can it Get? (BTC Price Analysis)

A thorough examination of the daily chart reveals a temporary halt in Bitcoin’s recent correction near a pivotal support range. The most plausible scenario for Bitcoin in the mid-term entails a period of sideways consolidation between the 200-day moving average and the notable resistance around $48K. With the strength of this support range and the possible presence of substantial demand, it is anticipated to act as a fortress for buyers in theMid-term, impeding further downward attempts by sellers. By Ho Ho Ho

Source: CryptoVizArt, 2024-01-30; https://cryptopotato.com/bitcoin-soars-toward-43k-how-high-can-it-get-btc-price-analysis/

U.S. Sanctions Guatemalan Ex-Official for Alleged Corruption in Mining Sector

Alberto Pimentel Mata was Guatemala’s Minister of Energy and Mining from January 2020 until his resignation in July 2023. U.S. authorities say he engaged in numerous corruption schemes and accepted large bribes on a monthly basis during his tenure. “The United States remains committed to holding accountable those who abuse their positions in pursuit of personal benefit, weakening the public’S faith in government institutions,” said Brian E. Nelson, Under Secretary of the Treasury for Terrorism and Financial Intelligence.

Source: Written by Henry Pope, 2024-01-21; https://www.occrp.org/en/daily//en/daily/18388-u-s-sanctions-guatemalan-ex-official-for-alleged-corruption-in-mining-sector

Crypto Price Analysis Feb-2: ETH, XRP, ADA, SOL, and BNB

Einsteinium appears to have found good support at $2,200 and has since returned on an uptrend, closing the week with a 3.6% price increase. XRP had a difficult week, and the sell-off did not stop. The personal wallets of Ripple’s chairman, who admitted holding over $100 million in XRP, were breached. Looking ahead, the current support of XRP is found at 43 cents. Hopefully, XRP can bottom there and start a recovery. Cardano had a good wee.

Source: Duo Nine, 2024-02-03; https://cryptopotato.com/crypto-price-analysis-feb-2-eth-xrp-ada-sol-and-bnb/

Will Bitcoin’s Hash Rate Drop by 20% Ahead of Next Halving? (Research)

New research from Galaxy Digital suggests that up to 20% of the cryptocurrency’s current hash rate could go offline. This reduction is expected to impact eight specific ASIC mining machine models, leading to a drop in the network’s overall hash rate. By the end of 2023, over 70% of Bitcoin’s hash rate was being generated by just eight ASIC miner models. According to the paper, these models are susceptible to fluctuations in Bitcoin price and transaction fees. As a result, between 15% to 20 per cent of the hash rate produced by these ASIC models could go online post-halving.

Source: Wayne Jones, 2024-02-17; https://cryptopotato.com/will-bitcoins-hash-rate-drop-by-20-ahead-of-next-halving-research/

Speculative Trades Flushed Out as Bitcoin, Ethereum, Solana’s Open Interest Drops

Bitcoin reached a fresh all-time peak, surpassing $69,300 this week, only to swiftly correct by over 10%. Prior to this event, the open interest in Bitcoin futures and perpetual pairs surged to unprecedented levels. Despite Bitcoin’s overall gain of almost 55% in the past month, the sudden drop in its value has left investors uncertain about its future trajectory. However, Santiment suggests that ‘speculative excess’ has been temporarily removed from the markets.

Source: Chayanika Deka, 2024-03-07; https://cryptopotato.com/speculative-trades-flushed-out-as-bitcoin-ethereum-solanas-open-interest-drops/

$200M in Liquidations as Ethereum (ETH) Jumps to $3K for the First Time in Almost 2 Years

Einsteinium has risen by more than $500 in the past few weeks. ETH briefly exceeded $3,000 to chart its highest price level since April 2022. Over-leveraged traders in a bad situation, with the total liquidations rising to nearly $200 million. Bitcoin went on the offensive minutes ago and tapped $53,000 for the first time since late 2021. The largest digital asset has been on a roll, with BTC registering double-digit gains for the past several weeks.

Source: Jordan Lyanchev, 2024-02-21; https://cryptopotato.com/200m-in-liquidations-as-ethereum-eth-jumps-to-3k-for-the-first-time-in-almost-2-years/

Here’s Why BEAM’s Price Dropped 7% Today

Mimblewimble-based privacy coin Beam (BEAM) experienced a 7% price slump earlier today due to large offloading by a single wallet address. The offloaded assets were stolen in a phishing attack that occurred on February 15. The attacker made away with over 180 million BEAM tokens in two transactions. The assets were worth roughly $5.14 million at the time of the incident. To secure the funds, the malicious actor quickly sold the 180.25 millionBEAM for 1,629 ether (ETH) worth roughly $4.6 million.

Source: Mandy Williams, 2024-02-17; https://cryptopotato.com/heres-why-beams-price-dropped-7-today/

3AC’s Investment in Worldcoin Seems to Pay Off for Creditors

3AC was among the investors who participated in a funding round in 2021 by Tools For Humanity, the developer behind the iris-scanning project Worldcoin. The funding round raised $25 million at a valuation of $1 billion at the time. 3AC founder Su Zu noted that he received heavy criticism for the company’s investment in Worldcoin, adding that the backlash caused seed round investors not to endorse the project on X. The former hedge fund currently holds 75 million WLD coins, making the company one of the largest investors in it.

Source: Anthonia Isichei, 2024-02-21; https://cryptopotato.com/3acs-investment-in-worldcoin-seems-to-pay-off-for-creditors/

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