Gomining

We’re back with the latest edition of GoMarket Weekly, brought to you by our expert <a href="https://ge.linkedin.com/in/mike-ermolaev-873034257" rel="noopener noreferrer nofollow">Mike Ermolaev! </a> This week, we&#39;ll examine the recent value jump in Bitcoin, discover the impact of Ethereum ETFs, as well as explosive opinions from prominent figures, and surprise findings on Bitcoin&#39;s ecological footprint. &#x1f4c8; Bitcoin&#39;s Rally Offers Relief to Short-Term Holders Over the past seven days, Bitcoin was trading within a range за $63,672-$68,175, with the rise above $68k providing significant relief for short-term holders. According to <a href="https://insights.glassnode.com/the-week-onchain-week-30-2024/" rel="noopener noreferrer nofollow">Glassnode</a>, over 75% of their holdings are now in profit. Despite the positive momentum, the perpetual funding rate remains below the neutral level of 0.01% per 8 hours, indicating a cautious stance among market participants. &#x1f310; Increased Bitcoin Holding by Kraken Users Meanwhile, CryptoQuant <a href="https://cryptoquant.com/insights/quicktake/66a0a3f20a078b098f014268-MtGox-Refunds-Users-Choose-to-Hodl-Over-Selling" rel="noopener noreferrer nofollow">has observed </a> a notable increase in Bitcoin withdrawals from the Kraken exchange following the crediting of balances from Mt. Gox. Lately, the assets people have accumulated are staying in their possession rather than being surrendered to the market. A byproduct of Kraken users&#39; hodling attitude could be a stabilizing force in Bitcoin&#39;s market. &#x1f5e3; Influential Figures and Institutional Adoption Fuel Market Optimism for Bitcoin The Bitcoin 2024 Conference in Nashville kicked off on the 25th of July, drawing attention from across the crypto world. Independent candidate for President of the United States, Robert Kennedy Jr., attending the conference, <a href="https://x.com/AutismCapital/status/1816677374219682165" rel="noopener noreferrer nofollow">expressed strong support</a> for cryptocurrency. ♻️ Environmental Benefits in Mining Senator Cynthia Lummis has released a <a href="https://www.lummis.senate.gov/wp-content/uploads/Bitcoin-Mining-Paper-FINAL.pdf" rel="noopener noreferrer nofollow">report reveals</a> that a surprising percentage of Bitcoin mining operations – about 52.6% – actually produce zero emissions. As manufacturers innovate, their latest mining hardware models boast greatly improved processing powers while making do with smaller electricity bills. For more details, check out the <a href="https://gmt.io/media_room/blog/gomarket_weekly_20/" rel="noopener noreferrer nofollow">full analysis</a> and stay tuned for more updates in next week&#39;s GoMarket Weekly!

🚀 GoMarket Weekly #20

GoMining

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