It?s up, it?s down and now it?s back up again as crypto investors regain confidence after the US Federal Reserve eased fears of a 100-basis point interest rate hike in July, and instead showing support for a 75-basis point rate hike instead.
Bitcoin is trading above US$20,000 again, while Ethereum is up over 7% and Solana is rallying more than 6%.
Embattled crypto lender Celsius Network has joined the bankruptcy club, filing for Chapter 11 bankruptcy protection late on Wednesday, becoming the third crypto lender to do so in July following Voyager Digital and Three Arrows Capital.
And Bitcoin mining rigs are currently continuing to feel the brunt of a bear market, with the latest generation of mining rigs now selling for 2020 lows. Now bankrupt Celsius Network reportedly sold off thousands of its newly purchased mining rigs in June each for half the price they were trading for just a month earlier.
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