XRP Volume Surges 100% Amid Legal Wins and Global Compliance Milestones
The Ripple Q4 2023 report highlights a remarkable surge in XRP’s trade volume during the fourth quarter of 2023. According to the report, XRP witnessed an impressive 75% to 100% rise in trade volume, surpassing assets like Cardano, BNB, and Solana.
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Spot Bitcoin ETFs hit $14.8 million daily net inflow, first in 5 trading days
Spot Bitcoin ETFs breakthrough with a $14.8 million net inflow on the 11th trading day. GBTC sees reduced outflows at $255 million, but total outflows remain over $5 billion. Pre-ETF launch, GBTC's BTC balance drops nearly 20% to 506,000 BTC.
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Cipher Mining has recently made a substantial purchase of 16,700 new miners set for delivery in the second quarter. Their strategic goal is to capitalize on the upcoming Bitcoin halving event expected in April.
In the following quarter, Cipher plans to install the latest Avalon A1466 miners at their Bear and Chief Mountain facilities in Texas. This move is projected to significantly bolster the company's self-mining capacity to reach 8.4 exahashes per second (EH/s), as declared by the firm on January 3rd.
To Know More About Bitcoin Halving
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What Is Bitcoin Halving
Bitcoin Halving is an event that occurs every four years in the Bitcoin network. It refers to the reduction of the block reward that Bitcoin miners receive for adding new blocks to the blockchain.
Initially, when Bitcoin was created in 2009, miners received a reward of 50 Bitcoin for every block they said. This reward was later reduced to 25 Bitcoin in 2012 and further to 12.5 Bitcoin in 2016. The significance of the Bitcoin halving extends beyond supply control. It influences the economics of Bitcoin mining, incentivizing miners to become more efficient and adapt to lower rewards.https://rb.gy/zvlmwl
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