Here’s what happened in crypto today
Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto regulation.
Today in crypto, Solo Bitcoiner miner mines block, Tyler Winklevoss claims JPMorgan paused Gemini’s onboarding after he criticized the bank’s data access fees. Meanwhile, Ether’s surging social dominance suggests a potential price correction is on the table.
Solo BTC miner mines block, scores reward
A solo Bitcoin miner successfully mined a block and added it to the blockchain ledger on Saturday, collecting the 3.125 BTC block reward, valued at $372,773.
The miner added block 907283, which contained 4,038 transactions and block fees totaling $3,436, through the Solo CK pool, which controls around 6.3 exahashes per second (EH/s) of computing power.
The mining industry is increasingly dominated by large, corporate players. However, solo miners continue to mine blocks, although the odds of a successful solo miner are similar to winning the lottery.
Tyler Winklevoss claims JPMorgan blocked Gemini over public criticism
Gemini co-founder Tyler Winklevoss has accused JPMorgan Chase of halting the crypto exchange’s onboarding process in response to his public criticism of the bank’s new data access policy.
In a Friday post on X, Winklevoss claimed JPMorgan retaliated after he called out the banking giant’s new move as anti-competitive behavior that could harm fintech and crypto firms.
“My tweet from last week struck a nerve. This week, JPMorgan told us that because of it they were pausing their re-onboarding of Gemini as a customer after they off-boarded us during Operation ChokePoint 2.0,” the Gemini boss wrote.
The dispute stems from a recent Bloomberg report that revealed JPMorgan’s decision to charge financial technology firms for access to customer bank data — a move Winklevoss argued would “bankrupt fintechs” that facilitate crypto purchases.
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Ether’s ‘extreme euphoria’ social chatter could be a red flag for price
Ether’s recent price rally may be due for a cooldown, as a surge in social media mentions — reaching levels of “extreme euphoria” — points to the potential for a near term correction, according to sentiment platform Santiment.
However, other indicators suggest Ether’s rally may still have room to run, which has gained more than 50% over the past 30 days.
“Social metrics are flashing warning signs. Since early May, Ethereum’s price ratio against Bitcoin has surged by an incredible 70%,” Santiment said in a report on Friday.
“This has led to extreme euphoria and a massive spike in social dominance, which is often a red flag,” Santiment added.
The sentiment provider explained that when social dominance of a cryptocurrency spikes to “unusually high levels,” it signals the asset may be overvalued. “It suggests the asset is over-hyped and the trade is becoming crowded, increasing the risk of a price correction,” the sentiment platform explained.
