Welcome to another edition of Crypto NFT Today! The past two weeks have been full of must-know events that’ll be defining points for the future of blockchain, cryptocurrency, and NFTs.
With reports showing bitcoin success for the end of 2024, Cleanspark Inc. obtaining seven bitcoin mining facilities, and more, there’s lots of essential news you should know about. So, let’s dive in and see what’s happening!
Report Shows Bitcoin Success for End of Year
Bitcoin, the world’s largest cryptocurrency, is expected to reach a new high by the end of the year, regardless of the outcome of the U.S. presidential election in November, according to a report from investment bank Standard Chartered on Thursday.
While the U.S. election’s result is significant for digital assets, it is less impactful than it was during Biden’s candidacy and less than markets currently anticipate, the bank noted. Bitcoin could hit all-time highs by year-end, with estimates of around $125,000 if Trump wins and roughly $75,000 if Kamala Harris is victorious.
Cleanspark Inc. to Obtain Seven Bitcoin Mining Facilities
Bitcoin mining firm CleanSpark Inc. announced that it has agreed to acquire seven Bitcoin mining facilities, along with land in the Knoxville, Tennessee area, for $27.5 million.
According to CleanSpark, this acquisition is part of its broader strategy to expand mining operations in regions with favorable political and energy conditions. Tennessee, which shares similarities with Georgia—where the company has made significant investments—has been identified as an ideal location for this latest expansion.
Etoro Agrees on $1.5 Million to Settle SEC Charges
Trading platform eToro has agreed to pay $1.5 million to settle charges related to operating as an unregistered broker, an unregistered clearing agency, and facilitating trading of certain crypto assets as securities, according to a statement from the U.S. Securities and Exchange Commission on Thursday.
The company has agreed to cease and desist from violating federal securities laws and will restrict trading to a limited set of crypto assets. eToro noted that these restrictions impact only about 3% of customers’ cryptocurrencies by dollar value.
Bitcoin Continues to Outperform Ethereum
With Bitcoin outperforming Ethereum by over 44% since the Ethereum Merge, the market is keenly evaluating if Bitcoin has permanently surpassed Ethereum in terms of long-term growth potential. A key factor in the current debate is Bitcoin’s significant outperformance compared to Ethereum since the Ethereum Merge, which occurred nearly two years ago.
