The Crypto Roundup: 10 June 2024

Latest price and news from the crypto space

Latest price from our hand picked list of digital assets

Data from on-chain analytics firm Glassnode shows that the flagship cryptocurrency’s network saw the highest ever number of active addresses last month after its price surged to a record high near $42,000.

Popular cryptocurrency exchange Coinbase has reportedly chosen Nasdaq as the venue for its direct listing, The Block reports.

Bitcoin miners have made over $1.09 billion in revenue last month. The figure is above the revenue bitcoin miners made in December 2017 of $1.02 billion, but fell short of December 2017’s record $1.25 billion.

Sponsored: Crypto.com Exchange is listing Filecoin on The Syndicate, where all Crypto.com Coin (CRO) stakers will be able to participate in a discounted sale event for 250,000 USD worth of FIL at 50% off. The event will commence on Tuesday, 23 February 6:00am UTC on the Crypto.com Exchange.

Top stories in the Crypto Roundup today:

Active Bitcoin Addresses Hit New All-Time High
Coinbase Reportedly Chooses Nasdaq for its Direct Listing
Bitcoin Miner Revenues Surpassed $1 Billion in January
Sponsored: Crypto.com Exchange is listing FIL at 50% OFF

Active Bitcoin Addresses Hit New All-Time High

More than 22.3 million addresses were active on the Bitcoin network last month, topping the previous record of 21.6 million addresses in December 2017, when BTC’s price hit its then-record high near $20,000.

Per the firm, these were unique addresses active on the network either sending or receiving funds. On January 7, 682,000 new addresses were created on the Bitcoin network, up from the previous record of 655,000 on December 17, 2020.

It’s worth noting that as anyone can create a bitcoin address for free, addresses cannot be used to measure the number of active Bitcoin users. Specifically how many people use BTC daily isn’t known.

Coinbase Reportedly Chooses Nasdaq for its Direct Listing

Popular cryptocurrency exchange Coinbase has reportedly chosen Nasdaq as the venue for its direct listing, The Block reports.

The report is based on two sources familiar with the crypto unicorn’s plans to go public. The company will become one of the few crypto companies listed on the tech-heavy Nasdaq, although the timeline for its listing is still unclear.

Existing Coinbase investors are reportedly already trading shares through Nasdaq’s Private Market platform, where its valuation has hit $50 billion, as shares were matched at a price of $200 each, with 254 million shares outstanding.

The figure represents a major discount from where pre-IPO futures contracts for Coinbase are trading on the FTX exchange. These imply a valuation below $70 billion, at $277 each.

Bitcoin Miner Revenues Surpassed $1 Billion in January

The December 2017 record likely wasn’t broken because of the halving in May of last year. While in 2017 every new block contained 12.5 BTC, after the halving new block rewards dropped to 6.25 BTC. While the price of the cryptocurrency is now higher, its inflation dropped.

Out of the $1 billion revenue last month, $977 million came from the network’s block subsidies, with the rest coming from transaction fees. Bitcoin’s mining difficulty has similarly risen, given the supply shortage of the newest mining equipment.

Uniswap’s Market Maturity Score Skyrockets

Uniswap is an Ethereum based automated market maker that uses smart contracts to solve the liquidity issue inherent in decentralized exchanges. Instead of creating order books, users exchange tokens by interacting with pools of token pairs that others have deposited. Users can also contribute to liquidity pools and earn exchange fees.

Uniswap removes the middleman from the liquidity process and allows anyone to participate. According to a recent Coindesk article, Uniswap’s UNI token jumped 92% in one week. With a trading volume of over $75B, Uniswap’s market maturity score has gone from a rating of A to a current rating of S (superb) - up 16% in the last month.

Uniswap is now a member of the Fundamental Aset Score (FCAS) 25. Members of the FCAS 25 are reevaluated each month and must be ranked within the top 25 for at least 40 days to qualify. Uniswap joined the group along with Yearn.Finance (YFI), and Monero (XMR).

Crypto.com Exchange is listing FIL at 50% OFF

Crypto.com Exchange is listing Filecoin on The Syndicate, where all Crypto.com Coin (CRO) stakers will be able to participate in a discounted sale event for 250,000 USD worth of FIL at 50% off. The event will commence on Tuesday, 23 February 6:00am UTC on the Crypto.com Exchange.

Allocation:

Each participant’s maximum amount of CRO that can be applied towards the listing event will depend on the amount of CRO staked on the Crypto.com Exchange.

Subscription:

Participants will be able to subscribe for FIL by contributing an amount of CRO tokens not exceeding their respective maximum allocation. Staked CRO tokens may not be used to subscribe for FIL in this event.
Participants will need to trade the minimum volume required at their CRO staked level in the past 30 days in order to be eligible to subscribe.
The past 30-day trading volume is calculated daily at 00:50:00 UTC. For more information regarding exact cutoff times, refer to our FAQ here.

NOTE: The trading volume can take up to 1 hour to calculate at most. To avoid any delays, we advise you to satisfy the trading requirement well in advance of the subscription timelines.

Event Timeline:

23 Feb 6:00am UTC: Sales Begins (FIL/CRO subscription price fixed)
24 Feb 6:00am UTC: Sales Ends
3 Mar 6:00am UTC: Acceptance Period Begins (unused CRO will be refunded immediately if you reject the allocation)
4 Mar 6:00am UTC: Acceptance Period Ends (CRO refunds will be distributed for forfeited participants)