Chain News Daily Official TheBitTimes.com

The Bitcoin price soared 2% in the last 24 hours to trade at $59,133 as of 03:42 a.m. EST on trading volume that surged 23% to $34 billion. This comes as Marathon Digital Holdings, Inc., one of the world’s largest Bitcoin mining firms, announced its plans to privately offer $250 million in convertible senior notes due 2031. The private offering is targeted at qualified institutional buyers. The firm aims to use the proceeds to acquire Bitcoin as well as corporate growth. Marathon Digitals also has the option to increase the offering by an additional $37.5 million. Depending on market conditions. These notes are set to mature in 2031, with interest payments starting in 2025. Bitcoin Price Could Sustain Its Rally The Bitcoin price has been in a sustained rally in the last week, soaring 7%, according to data from GeckoTerminal . BTC has been trading within the rising channel pattern, with the price surging over the channel once as it rose to the $62,500 resistance. The bulls ...

The Ethereum price dropped 2% in the last 24 hours to trade at $2,428 as of 03:23 a.m. EST on trading volume that fell 2% to $23.2 billion. At a time when the cryptocurrency market has been experiencing a downturn, Ethereum staking has been gaining, with the last two weeks recording massive advances. This shows growing investor confidence in Ethereum’s long-term potential, as staking is viewed as a way to earn rewards and contribute to network security. Since the beginning of 2024, Ethereum staking has seen a significant 1,200% increase in its Total value Locked (TVL). Can this investor confidence boost the Ethereum price? Ethereum Price Prediction The Ethereum price dropped from the $3,500 resistance to the $2,200 support at the beginning of August, according to data from GeckoTerminal . The bulls then took control of the price, propelling the token to the $2,500 support. ETH has been trading within this range on a sideways pattern, as the bulls aim for a breakout above t...