Major Cryptocurrencies Face Mounting Pressures: XRP Losses, Bitcoin Mining Struggles, and Ethereum Exploit Trial Highlight Market Headwinds
Major Cryptocurrencies Face Mounting Pressures: XRP Losses, Bitcoin Mining Struggles, and Ethereum Exploit Trial Highlight Market Headwinds
Recent reports indicate significant challenges across the crypto market. Companies holding digital assets are experiencing unrealized losses, particularly impacting XRP. Bitcoin miners are in 'survival mode' due to declining prices and hashprice. Furthermore, a high-profile trial concerning a multi-million dollar Ethereum exploit continues, with the jury struggling to reach a verdict, underscoring ongoing security and legal concerns in the sector.
The latest crypto downturn is hammering companies that built their business models around holding digital assets, with Evernorth’s unrealized XRP losses exposing significant pressure on Digital Asset Trusts (DATs).
The Bitcoin mining industry is struggling, with hashprice nearing critical levels and miners entering 'survival mode'. Falling hashprice and a decline in Bitcoin’s prices are causing pain that has spread throughout the supply chain.
A jury in a significant MEV bot trial is struggling to reach a verdict concerning a $25 million Ethereum exploit. Defense attorneys have reportedly requested a mistrial as jurors indicated they were far from a consensus as the weekend approaches.