Episode Details

13th Aug: Crypto & Coffee at 8

🔥 BTC miners hit 2024 revenue low 👀47 firms apply: Turkey crypto ⭐PlayDoge and MPEPE attract $10M 🔻Canto Blockchain down since 9th Aug

👀 On August 11, Bitcoin miners' daily revenue fell to a yearly low of $2.54 million, the lowest since October 2023. This decline follows the Bitcoin halving event in April, which halved mining rewards. Daily revenue had already dropped below $3 million in May, down from $6 million earlier in the year. Factors contributing to the low revenue include the bear market, reduced Bitcoin prices, increased network difficulty, and liquidations. Despite this, some major miners, like Bitfarms, have adapted their strategies and equipment to remain profitable.

- How will this impact the long-term sustainability of mining operations?

🎙️ Check out the Blockchain DXB podcast we share our commentary on this. Also, see slides 1,2 & 3 for the Global Crypto Market Snapshot

🟣 Capital Markets Board of Turkey (CMB) has updated its list of crypto asset service providers following new regulations. The update includes 47 companies that have applied to operate under the new law but are not yet officially authorized. Three companies have announced their intention to liquidate. Providers must apply for permits or cease operations by specified deadlines, with legal penalties for noncompliance. Foreign providers targeting Turkish residents must also halt such activities by October 2. Info via Bitcoin.com here https://tinyurl.com/yznvdy73 

👀 Dogecoin rivals PlayDoge (PLAY) and Mpeppe (MPEPE) are gaining traction, with a significant $10 million investment from a Dogecoin whale in their presales. PlayDoge, inspired by Tamagotchi, offers a Play-to-Earn model and has quickly amassed $6 million in presale valuation and a growing social media following. Mpeppe, focused on revolutionizing gambling in the meme coin space, is also seeing high demand. These developments indicate potential challenges for Dogecoin's dominance as new and innovative meme coins like PlayDoge and Mpeppe gain momentum and attract substantial investment. News via NEWSBTC https://t.ly/TjioP;lm

❗ Canto, a layer-1 blockchain, has been offline since Saturday due to a consensus issue. The CANTO token initially dropped by 21% but recovered over the weekend. An upgrade to address the issue is scheduled for Monday, August 12. Info via CoinDesk here https://shorturl.at/m4OfH 

❗ Canto saw explosive growth after launching last August, with TVL peaking at $200 million in March. However, on-chain activity has since declined, dropping TVL to $13.7 million, and the CANTO token has fallen 83% since May 24.

🟠 Two UAE news (See slides)

⚡ DMCC (Dubai Multi Commodities Centre) H1 2024 report. - Crypto, tech, energy and services lead ecosystem expansion

⚡ Ai- Dubai International Chamber supports UAE-based MEERANA’s collaboration with Vietnamese technology company FPT

For slides click here: https://shorturl.at/VMPVf

LinkedIn Profile: https://tinyurl.com/bdeevbru

Podcast Host: @black_incarnation

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