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🌙 Ethereum Clocks Worst Month in Over Two Years

Ethereum had its worst month in over two years as a series of factors, from exchange-traded funds (ETFs) outflows to lack of mainnet activity, are conspiring to produce a very bearish bull market.

Author

Mike Gavela
September 02, 2024

Crypto Roundup - September 2

September started with notable developments across the cryptocurrency and blockchain landscapes. Ethereum registered its worst monthly performance since the significant market corrections over two years ago. This decline is attributed to heightened market volatility, rising interest rates, and growing investor apprehension about the future of digital assets. Bitcoin miners also faced substantial difficulties, experiencing their worst month in a year as reduced profitability, escalating energy costs, and intensified competition squeezed margins. Additionally, in Brazil, the social media platform X (formerly Twitter) was blocked after a majority of the country's Supreme Court upheld a suspension order. This decision underscores the escalating tension between global tech companies and local regulatory bodies, with broader implications for digital governance and free speech.

Top Stories

  • Ethereum clocks worst month in over two years, reflecting increased market volatility and investor concerns about the future of digital assets.

  • Bitcoin miners suffer worst month in a year, pressured by declining profitability, higher energy costs, and growing competition within the industry.

  • X blocked in Brazil after the Supreme Court upholds a suspension order, highlighting the ongoing conflict between tech companies and regulatory authorities.

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TOP STORIES

Ethereum Clocks Worst Month in Over Two Years - "The Defiant"

Ethereum had its worst month in over two years as a series of factors, from exchange-traded funds (ETFs) outflows to lack of mainnet activity, are conspiring to produce a very bearish bull market.

thedefiant.io/news/markets/ethereum-clocks-worst-month-in-over-two-years

Bitcoin Miners Suffer Worst Month In One Year - "The Defiant"

Bitcoin miners raked in their lowest monthly revenue since September 2023 last month.

thedefiant.io/news/blockchains/bitcoin-miners-suffer-worst-month-in-one-year

X blocked in Brazil after supreme court panel upholds suspension order

A panel of Brazil's federal supreme court justices voted unanimously to uphold orders suspending the use of Elon Musk's social network X nationwide there.

www.cnbc.com/2024/09/02/x-blocked-in-brazil-after-court-majority-upholds-suspension-order.html

FUNDRAISING

OTHER HEADLINES

Crypto products hit with $305M outflow amid strong US economic data

After seeing the largest multi-week inflows, crypto investment products are back to seeing major outflows amid strong economic reports in the US, according to CoinShares.

cointelegraph.com/news/crypto-305-million-outflow-us-economic-data

Extremely Unlikely WazirX Customers Will Be Made Whole in Crypto Terms: Legal Advisers

WazirX co-founder Nischal Shetty said the numbers are as of today and the objective is to reduce the gap through various efforts.

www.coindesk.com/business/2024/09/02/extremely-unlikely-wazirx-customers-will-be-made-whole-in-crypto-terms-legal-advisers

Circle and Paypal's stablecoins keep notching gains

An Empire episode this week featured Jason Yanowitz, Santiago Santos and Circle CEO Jeremy Allaire, who got into more than just stablecoins.

blockworks.co/news/circle-paypal-stablecoins-keep-notching-gains

CRYPTO TWITTER (X)

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