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OIL:  BRENT - 74.76+2.23 WTI - 70.56+2.95
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LME:  NICKEL - 21318.00+3.55 TIN - 25437.00-0.07
LME:  LEAD - 1999.00-0.67 ZINC - 2267.00+0.82
FOREX:  USD/JPY - 138.81-0.49 EUR/GBP - 1.0765+0.76
FOREX:  EUR/USD - 1.0765+0.76 GBP/USD - 1.2534+0.80
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01/06/2023  CBA:  USD - 386.98+0.36 GBP - 482.53+4.59
01/06/2023  CBA:  EURO - 414.49+1.73
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June, 2023
June 2023
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Bybit: BTC Mining Profitability Continues to Decline; Lamborghini-Backed GT Team to Certify Car Parts With NFTs
06/07/2022 22:13

Bybit: BTC Mining Profitability Continues to Decline; Lamborghini-Backed GT Team to Certify Car Parts With NFTs

Chart of the Day 

The broader crypto market dipped yet again on Tuesday after its brief recovery lost steam. BTC has been fluctuating above its newly found range near the $20k key psychological support level. The recent rejection near the $20.5k level has sent BTC’s price down south, but the $19.5k zone still manages to hold and prevent further losses. As of the time of writing, the largest cryptocurrency by market cap is trading slightly below $20k after shedding 2% of its market value in the last 24 hours. The immediate upside resistance sits in the $20.2k to $20.5k range. A steady close above this range would likely open the door to further upside gains.

While volatility in the spot market eases slightly, the bears continue to exert pressure on miners. Since November 2021, the BTC mining industry has seen its daily revenue plummet from its peak of $62 million to $18 million. The mining industry, one that derives revenue from a commodity, tends to follow a cyclical pattern. Over-investment in new production capacity, especially after the extremely profitable year of 2021, has yielded disproportionately low profits amid weakening spot prices and macroeconomic uncertainty. The selling pressure on miners will ultimately lead to a withdrawal of production capacity, and in turn reboot the cycle, where the revenue of mining BTC will begin to rise again.

In the altcoin market, ETH is moving in tandem with BTC and is currently trading above the $1,100 handle. Most major altcoins have flipped red after the Tuesday recovery wave lost its momentum. Lido’s staked ETH, which was at the epicenter of controversies last month, has somewhat regained its peg with ETH, although the current gap still represents a discount of roughly 3%.

Talk of the Town 

Bybit: BTC Mining Profitability Continues to Decline; Lamborghini-Backed GT Team to Certify Car Parts With NFTs 1

The Vincenzo Sospiri Racing GT team, backed by Lamborghini, recently announced the adoption of NFTs to certify and authenticate factory car parts. In a statement released on Tuesday, the company mentioned that the NFT rollout, a pilot scheme in collaboration with Go2NFT, could also be extended to authenticate merchandise and other official products. The development of the NFT platform marks the beginning of a long-term commitment to bringing NFT functionalities into the Lamborghini ecosystem, with the ultimate goal of transforming cars into digital assets in the form of NFTs.

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IDBank
AMD Rates
10:30 02/06 Buy Sell
AMD / USD 386.00 389.50
AMD / EUR 415.00 418.00
AMD / RUR 4.77 4.80
dollars
dollars
CBA Rates
01/06/2023
USD / AMD
386.98
+0.36%
EUR / AMD
414.49
+1.73%
RUR / AMD
4.78
+0.01%
GBP / AMD
482.53
+4.59%
Cryptocurrencies
10:30 02/06
BTC/AMD
10,502,749
+1.24%
BTC/USD
27140.29
+1.15%
ETH/USD
1891.70
+2.01%
BCH/USD
114.61
+1.70%
XRP/USD
0.518774
+2.85%
LTC/USD
95.22
+3.71%
BNB/USD
308.21
+1.26%
DOGE/USD
0.072114
+0.60%
ETH/BTC
0.069694752
+0.82%
BCH/BTC
0.004222355
+0.50%
XRP/BTC
0.000019113
+1.64%
LTC/BTC
0.003508189
+2.49%
BNB/BTC
0.011355028
+0.07%
DOGE/BTC
0.000002657
-0.60%
CBA Metals
01/06/2023
dram / gram
Gold
24440.46
+171.27%
Silver
289.33
+0.27%
FOREX
09:28 02/06
EUR/USD
1.0765
+0.76%
GBP/USD
1.2534
+0.80%
USD/JPY
138.81
-0.49%
EUR/GBP
0.8586
-0.07%
Oil
09:28 02/06
$ / barrel
Brent
74.76
+2.23%
Light Sweet
70.56
+2.95%
COMEX
09:28 02/06
$ / tr. oz
Gold
1999.70
+0.92%
Silver
24.08
+1.95%
Platinum
1012.70
+0.83%
LME / 3M
09:28 02/06
$ / tonne
Aluminium
2282.50
+1.63%
Copper
8243.50
+1.91%
Nickel
21318.00
+3.55%
Tin
25437.00
-0.07%
Lead
1999.00
-0.67%
Zinc
2267.00
+0.82%
Molybdenum
48810.29
+1.37%
Cobalt
29525.00
+0.00%
Indexes
09:28 02/06
point
Dow Jones
33061.57
+0.47%
S&P 500
4221.02
+0.99%
NASDAQ
13100.98
+1.28%
FTSE
7490.27
+0.59%
CAC 40
7137.43
+0.55%
DAX
15853.66
+1.21%
RTSI
1061.89
+0.61%
Nikkei
31148.01
+0.84%
Topix
2149.29
+0.88%
Hang Seng
18216.91
-0.10%
SSEC
3204.63
+0.00%
CBA Interest Rates
26/03/2020
Refinancing
Refinancing Rate
10.75
+0.00%
Lombard Repo
Lombard Repo Rate
12.25
+0.00%
Deposit
Deposit Rate
9.25
+0.00%
Macroeconomy
04/2023
CEA
Coefficient of Economic Activity
+8.90%
Ind. Prod. 3
Volume of Industrial Production
747.83
+2.4%
Export 1
Export
2,158.4
+110.0%
Import 1
Import
3,645.6
+93.9%
CPI
Consumer price index
+6.20
Avg. Salary 2
Average salary
260,042
+21.6%
Services 3
Volume of services
919.3
+22.2%
Construction 3
Volume of construction
94.87
+16.8%
1 - mln AMD, 2 - AMD, 3 - bln AMD