In this episode of the Crypto Daily Download, we dive into the latest developments in the cryptocurrency market. Bitmine has made headlines with its recent purchase of 41,000 Ethereum, bringing its total holdings to 4.2 million tokens, which is about 3.5% of Ethereum’s circulating supply. Despite this, the paper losses have surged to $6 billion. UBS has increased its stake in MicroStrategy, now holding shares valued at $805 million. We discuss the implications of Bitcoin’s price fluctuations and how they affect MicroStrategy’s overall valuation. Asset manager WisdomTree reports record assets under management totaling $144 billion, showcasing a 5.3% increase despite some net outflows. Major exchanges like Coinbase, Gemini, and Bullish are facing significant drops in trading volumes, leading to a decline in share prices by 40-60% over the past three months. We explore how this impacts their revenue and the broader market. Jane King with the latest from the NYSE.
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He's a look at your crypto daily download bit my immersion at 41,000 Ethereum is paper losses rise to $6 billion.
Chair Tom Lee says he's plunging price stands in stark contrast to surging blockchain activity marking a contract.
To bear markets, the purchase lifted that mine's total Ethereum holdings to 4.2 million tokens, about 3.5% of Ethereum's circulating supply.
Well meanwhile, UBS Group has disclosed it has increased its holdings of the Bitcoin treasury company MicroStrategy strategy.
In fact, they have shares now totaling 5.76 million with a total value reaching $805 million.
That's an increase of 3.25 million shares compared to before.
The price of Bitcoin briefly fell below Strategy's average purchase price, reaching a low of 74,553.
Strategy's Bitcoin Holdings purchased for $54 billion were valued at $53.1 billion at Bitcoin's low.
Asset manager Wisdom.
A growing player in the crypto sector reported record assets under management at the end of last year totaling $144 billion.
This represents a 5.3% quarter over quarter increase driven by market appreciation and the firm's series Partners acquisition despite some net outflows.
This is all according to Wisdom Tree's quarterly report, and crypto exchanges like Coinbase, Gemini, and Bullish are experiencing plunges.
Trading volumes dragging share prices down 40 to almost 60% over the past three months.
The pressure point is that most crypto exchanges generate the biggest chunk of their revenue from transaction fees.
And when trading activity dries up, earnings drop.
For investors who use crypto stocks as proxies for digital asset growth, the message is even modest price declines can translate into outsized revenue pain when traders step away altogether.
And that is the latest crypto daily download headlines.