Crypto

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December, 2022
December 2022
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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 0.1K

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.

Ucom - high speed internet connection starting at AMD 6,500
AMD Rates
10:30 09/12 Buy Sell
AMD / USD 393.00 397.00
AMD / EUR 410.00 420.00
AMD / RUR 6.22 6.45
dollars
dollars
CBA Rates
09/12/2022
USD / AMD
395.30
+0.15%
EUR / AMD
417.56
+2.18%
RUR / AMD
6.33
+0.01%
GBP / AMD
484.72
+3.70%
Cryptocurrencies
10:30 09/12
BTC/AMD
6,802,389
+2.24%
BTC/USD
17214.70
+2.39%
ETH/USD
1280.56
+4.22%
BCH/USD
111.83
+2.76%
XRP/USD
0.392060
+1.07%
LTC/USD
77.93
+3.91%
BNB/USD
290.13
+2.34%
DOGE/USD
0.098260
+2.35%
ETH/BTC
0.07438085
+1.77%
BCH/BTC
0.006495674
+0.34%
XRP/BTC
0.000022773
-1.30%
LTC/BTC
0.00452665
+1.47%
BNB/BTC
0.016851986
-0.07%
DOGE/BTC
0.000005707
-0.07%
CBA Metals
09/12/2022
dram / gram
Gold
22751.35
+109.63%
Silver
288.44
+4.05%
FOREX
10:00 09/12
EUR/USD
1.058
+0.80%
GBP/USD
1.2271
+0.67%
USD/JPY
135.91
-0.82%
EUR/GBP
0.8618
+0.12%
Oil
10:00 09/12
$ / barrel
Brent
76.76
-1.46%
Light Sweet
72.06
-1.02%
COMEX
10:00 09/12
$ / tr. oz
Gold
1813.50
+0.98%
Silver
23.33
+2.23%
Platinum
1013.40
-0.07%
LME / 3M
10:00 09/12
$ / tonne
Aluminium
2503.00
+0.70%
Copper
8543.00
+1.02%
Nickel
29725.00
-5.46%
Tin
24625.00
+1.31%
Lead
2212.00
+0.00%
Zinc
3236.50
+1.68%
Molybdenum
50066.92
+9.60%
Cobalt
51955.00
+0.00%
Indexes
10:00 09/12
point
Dow Jones
33781.48
+0.55%
S&P 500
3963.51
+0.75%
NASDAQ
11082.00
+1.13%
FTSE
7472.17
-0.23%
CAC 40
6647.31
-0.20%
DAX
14264.56
+0.02%
RTSI
1096.63
-0.21%
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27901.01
+1.18%
Topix
1961.56
+1.03%
Hang Seng
19900.87
+2.32%
SSEC
3206.95
+0.30%
CBA Interest Rates
26/03/2020
Refinancing
Refinancing Rate
9.25
+0.00%
Lombard Repo
Lombard Repo Rate
10.75
+0.00%
Deposit
Deposit Rate
7.75
+0.00%
Macroeconomy
10/2022
CEA
Coefficient of Economic Activity
+8.90%
Ind. Prod. 3
Volume of Industrial Production
2,128.5
+9.9%
Export 1
Export
4,129.4
+71.2%
Import 1
Import
6,755.8
+63.5%
CPI
Consumer price index
+8.70
Avg. Salary 2
Average salary
226,621
+14.0%
Services 3
Volume of services
2,074.3
+27.90%
Construction 3
Volume of construction
360,764
+14.4%
1 - mln AMD, 2 - AMD, 3 - bln AMD