Bitcoin Continues To Lead As Best-Performing Asset Of 2024 Amidst Q3 Weakness
The post Bitcoin Continues To Lead As Best-Performing Asset Of 2024 Amidst Q3 Weakness appeared on BitcoinEthereumNews.com.
According to NYDIG, Bitcoin has emerged as the best-performing asset of 2024, boasting a year-to-date gain of 49.2%, even in light of a lackluster Q3. A long-dormant whale, who recently reactivated after a lengthy period of inactivity, moved another $634,000 worth of Bitcoin to Kraken this morning. This whale’s BTC holdings are particularly notable, as they were mined just one month after Bitcoin’s genesis block, demonstrating the longevity of this investment. NEWS: Bitcoin remains the best-performing asset of 2024 despite a weak Q3, says NYDIG, with a YTD gain of 49.2%. 📰: https://t.co/iJVTndtwvR pic.twitter.com/NdTMwxBHPW — CoinGecko (@coingecko) October 7, 2024 To date, he has deposited a total of $4.21 million into Kraken while still holding onto an impressive $73.4 million in Bitcoin. ANCIENT BTC WHALE MOVES ANOTHER $600K TO KRAKEN A long-dormant whale holding $73.4M Bitcoin who woke up 1 month ago moved another $634K BTC to Kraken this morning. His BTC was mined ONE MONTH after Bitcoin’s genesis block. pic.twitter.com/PtNqeX3vdK — Arkham (@ArkhamIntel) October 7, 2024 Bitcoin Halving and Network Hash Rate As the Bitcoin halving approaches, the network’s hash rate continues to rise. Currently sitting at an impressive 683 million terahashes per second (TH/s), the hash rate is a crucial metric that reflects the amount of computing power being contributed to the Bitcoin network. Despite the challenges associated with launching a mining operation—including acquiring mining machines, securing locations, hiring staff, and finding affordable energy sources—more and more TH/s are being deployed to the network. This trend bodes well for Bitcoin’s long-term prospects, especially considering that the effects of the halving, which reduces block rewards, are not yet evident in the hash rate charts. Six months after the halving, and the Hash Rate continues to grow 💪 Hash Rate is one of Bitcoin’s most fundamental metrics. It measures the…
Filed under: News - @ October 8, 2024 5:21 am