2024-03-07 02:28

Investing.com - EOS was trading at $1.0773 by 21:27 (02:27 GMT) on the Investing.com Index on Thursday, up 10.58% on the day. It was the largest one-day percentage gain since March 2. The move upwards pushed EOS's market cap up to $1.2147B, or 0.05% of the total cryptocurrency market cap. At its highest, EOS's market cap was $17.5290B. EOS had traded in a range of $1.0633 to $1.0922 in the previous twenty-four hours. Over the past seven days, EOS has seen a rise in value, as it gained 27.81%. The volume of EOS traded in the twenty-four hours to time of writing was $286.9470M or 0.16% of the total volume of all cryptocurrencies. It has traded in a range of $0.8584 to $1.1635 in the past 7 days. At its current price, EOS is still down 95.31% from its all-time high of $22.98 set on April 29, 2018. Elsewhere in cryptocurrency trading Bitcoin was last at $65,946.3 on the Investing.com Index, up 4.50% on the day. Ethereum was trading at $3,784.17 on the Investing.com Index, a gain of 7.59%. Bitcoin's market cap was last at $1,302.0500B or 51.92% of the total cryptocurrency market cap, while Ethereum's market cap totaled $457.3877B or 18.24% of the total cryptocurrency market value. https://www.investing.com/news/cryptocurrency-news/eos-climbs-11-in-a-green-day-3327816

2024-03-06 23:40

Copyrighted Image by: Reuters. Investing.com - The Canadian dollar strengthened against its U.S. counterpart on Tuesday, as a hawkish hold from the Bank of Canada vs. a reaffirmation of upcoming rate cuts from Fed Chair Jerome Powell put pressure on the USDCAD pair. The Bank of Canada held rates at 5.0% as had been widely expected, but did not deliver a dovish tilt, as had been hoped for. Instead, Bank of Canada governor Tiff Macklem, in the press conference following the announcement, stressed that core inflation measures remained too high, and that there was no calendar on rate cuts yet. Money markets now see less than a 25% change of a BoC rate cut in April, down from over 40% before the announcement. Bets are now for rate cuts in July, rather than in June as had been expected prior to the BoC rate statement. ING FX Strategist Francesco Pesole notes that “The Canadian dollar reacted positively to the BoC announcement, as the unchanged policy statement defied some expectations that hints on rate cuts would be provided.” Looking ahead for the pair in the medium term, Pesole notes that “The persistence of CAD’s correlation to US data and the strict link between Fed and BoC policy expectations means the room for a major break in either direction in USD/CAD does not seem very likely.” ING expects the pair to keep trading in a 1.34/1.36 range until a clearer USD downtrend is likely to emerge in the second quarter, taking the pair towards 1.30 in the second half of 2025 - in line with a consensus forecast of analysts polled by Reuters. In the March 1-6 Reuters poll of 40 foreign exchange analysts, the median forecast was for the loonie to strengthen to 1.34 per U.S. dollar, in three months and to 1.30 in a year as the USD faces a broad-based decline and the Fed shifts to rate cuts. "The gradual decline in USD-CAD certainly in part reflects a slowing U.S. economy and the Fed embarking on a rate cutting cycle," noted Derek Halpenny, head of research, global markets EMEA and international securities at MUFG. "We also assume no hard landing (for the economy) and if risk remains broadly favourable this year that should also benefit CAD." Up next for the pair, the focus will be on Canada’s employment data on Friday, and U.S. Nonfarm Payrolls. https://www.investing.com/news/forex-news/canadian-dollar-gains-following-bank-of-canadas-hawkish-hold-3327764

2024-03-06 19:28

Investing.com - Ethereum was trading at $3,858.24 by 14:28 (19:28 GMT) on the Investing.com Index on Wednesday, up 14.89% on the day. It was the largest one-day percentage gain since November 10, 2022. The move upwards pushed Ethereum's market cap up to $463.71B, or 18.45% of the total cryptocurrency market cap. At its highest, Ethereum's market cap was $569.58B. Ethereum had traded in a range of $3,503.51 to $3,899.99 in the previous twenty-four hours. Over the past seven days, Ethereum has seen a rise in value, as it gained 16.43%. The volume of Ethereum traded in the twenty-four hours to time of writing was $45.04B or 20.09% of the total volume of all cryptocurrencies. It has traded in a range of $3,237.2808 to $3,899.9900 in the past 7 days. At its current price, Ethereum is still down 20.68% from its all-time high of $4,864.06 set on November 10, 2021. Elsewhere in cryptocurrency trading Bitcoin was last at $67,095.0 on the Investing.com Index, up 4.76% on the day. Tether USDt was trading at $1.0012 on the Investing.com Index, a gain of 0.18%. Bitcoin's market cap was last at $1,318.18B or 52.46% of the total cryptocurrency market cap, while Tether USDt's market cap totaled $100.61B or 4.00% of the total cryptocurrency market value. https://www.investing.com/news/cryptocurrency-news/ethereum-climbs-15-in-bullish-trade-3327396

2024-03-06 19:08

Investing.com - Cardano was trading at $0.7226 by 14:07 (19:07 GMT) on the Investing.com Index on Wednesday, up 15.60% on the day. It was the largest one-day percentage gain since December 8, 2023. The move upwards pushed Cardano's market cap up to $25.6878B, or 1.02% of the total cryptocurrency market cap. At its highest, Cardano's market cap was $94.8001B. Cardano had traded in a range of $0.6652 to $0.7559 in the previous twenty-four hours. Over the past seven days, Cardano has seen a rise in value, as it gained 17.23%. The volume of Cardano traded in the twenty-four hours to time of writing was $1.8752B or 0.82% of the total volume of all cryptocurrencies. It has traded in a range of $0.5861 to $0.7980 in the past 7 days. At its current price, Cardano is still down 76.68% from its all-time high of $3.10 set on September 2, 2021. Elsewhere in cryptocurrency trading Bitcoin was last at $67,062.6 on the Investing.com Index, up 4.71% on the day. Ethereum was trading at $3,853.28 on the Investing.com Index, a gain of 6.65%. Bitcoin's market cap was last at $1,317.5190B or 52.43% of the total cryptocurrency market cap, while Ethereum's market cap totaled $463.7504B or 18.45% of the total cryptocurrency market value. https://www.investing.com/news/cryptocurrency-news/cardano-climbs-16-as-investors-gain-confidence-3327377

2024-03-06 13:08

Copyrighted Image by: Reuters Crypto stocks rally as BTC rebounds Shares of crypto stocks Marathon Digital Holdings (NASDAQ:MARA), Cipher Mining (NASDAQ:CIFR), Microstrategy, Inc. (NASDAQ:MSTR), Coinbase (NASDAQ:COIN) and Riot Platforms (NASDAQ:RIOT) are climbing Wednesday as the price of bitcoin bounces back following a decline on Tuesday. The premier cryptocurrency is currently up 2% on Wednesday after a more than 6% decline on Tuesday. Bitcoin touched a new all-time on Tuesday after surging above the $69,000 threshold before seeing a sharp correction. As of 07:50 am ET today, BTCUSD is trading close to the $65,500 mark This has helped to drive the share price of crypto stocks higher in premarket trading. MARA is up 4%, Cipher mining has climbed 3.5%, MSTR is trading 7.8% higher, Coinbase has gained 4.6%, and RIOT has rallied 4.2%. Following the rally in bitcoin, analysts at Bernstein said in a recent note that while the gains "can be attributed to the ETF flows, the market is just not stopping at Bitcoin." The firm expects the market recovery to be "broad-based, with DeFi leading the charge." https://www.investing.com/news/cryptocurrency-news/crypto-stocks-rally-as-btc-rebounds-432SI-3326687

2024-03-06 11:27

Copyrighted Image by: Reuters. SYDNEY - Iris Energy Limited (NASDAQ: IREN), now rebranded as IREN, a company specializing in next-generation data center operations for Bitcoin mining and AI services, provided a monthly update for February 2024 today. The company reported significant growth in its Bitcoin mining operations and expansion plans for its data center capacity. In February, IREN achieved a record operating hashrate of 7 EH/s, mining a total of 310 Bitcoin. This has contributed to a monthly mining revenue increase to $15.2 million, attributed to the higher average hashrate and an increase in Bitcoin price to approximately $49,100. The company has set an ambitious target to expand its hashrate to 20 EH/s within 2024. The company's AI Cloud Services division signed a contract with poolside AI and plans to triple its business by fast-tracking the addition of 816 NVIDIA (NASDAQ:NVDA) H100 GPUs. The initial term of the contract is three months, with an option to extend for another three. IREN's data center expansion plans include growing to 460MW in 2024, with Childress Phase 1 in Texas already operational at 60MW and an additional 40MW to be commissioned in the near future. Phases 2 and 3, which will support the expansion to 20 EH/s, are currently under construction, with civil and procurement work underway. The company's rebranding from Iris Energy to IREN is intended to better reflect its growing data center business. Alongside this update, IREN released its second-quarter financial results on February 15, 2024, for the periods ending December 31, 2023. Looking ahead, IREN is scheduled to participate in several industry events, including the 36th Annual ROTH Conference, NVIDIA GTC, and Bitcoin Alive in March 2024. This news is based on a press release statement from IREN. InvestingPro Insights As IREN continues to expand its operations and redefine its brand, it's important to consider the company's financial health and market performance. According to InvestingPro data, IREN boasts an impressive gross profit margin of 85.52% for the last twelve months as of Q2 2024, underlining the company's efficiency in managing its operational costs relative to revenue. Despite not being profitable over the last twelve months, analysts predict that IREN will turn a profit this year. This optimistic outlook is supported by a substantial 109.69% revenue growth during the same period, indicating a strong upward trajectory for the company's sales. Additionally, the company's stock has experienced a significant return of 92.8% over the last year, reflecting investor confidence and market momentum. While these figures point towards a promising future, investors should note that IREN's stock price movements have been quite volatile, with a 15.87% decrease over the last week. Such volatility suggests that potential investors should be prepared for fluctuations in the market value of their investments. For those seeking a deeper dive into IREN's financials and market prospects, there are additional InvestingPro Tips available. These tips can provide valuable insights into the company's cash reserves, sales growth expectations, and analysts' earnings revisions. With this in-depth analysis, investors can make more informed decisions about their investments in IREN. Interested readers can unlock further insights and tips by subscribing to InvestingPro. Use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, and explore the full range of 15 additional InvestingPro Tips for IREN at https://www.investing.com/pro/IREN. https://www.investing.com/news/cryptocurrency-news/iren-boosts-bitcoin-mining-expands-data-centers-93CH-3326300