News

The well-known decentralized application data platform DappRadar has announced the cessation of operations due to financial unsustainability and issues with its business model. The price of its token, RADAR, has plummeted, and the decline in the GameFi and NFT industries has led to a sharp decrease in revenue. Summary generated by Mars AI This summary was generated by the Mars AI model; the accuracy and completeness of its content are still being iteratively improved.

Quick Take Bitwise CIO Matt Hougan said Bitcoin’s value comes from its role as a digital wealth-storage “service” without relying on governments, banks, or other third parties. Hougan argued that rising institutional demand for that service underpins Bitcoin’s long-term trajectory, despite recent market pullback concerns.

Quick Take BlackRock’s IBIT recorded its largest-ever net outflows on Tuesday as institutions recalibrated their portfolios. Meanwhile, spot Solana ETFs extended their positive flow streak to 16 days, accumulating $420 million in inflows.

Quick Take Transaction fees currently contribute approximately $300,000 per day to miner revenue, comprising less than 1% of total miner income. The following is excerpted from The Block’s Data and Insights newsletter.

Quick Take BlackRock’s U.S. spot bitcoin ETF, IBIT, posted a record $523 million in net outflows on Tuesday, marking its fifth straight day of redemptions and extending a weeks-long negative trend. K33 Head of Research Vetle Lunde warned that bitcoin’s derivatives market is entering a “dangerous” setup as traders add aggressive leverage into a deepening correction, creating excess overhang that could amplify liquidation-driven volatility.

Quick Take Nvidia reported Q3 earnings and guidance above expectations, sending both the price of Bitcoin and mining stocks higher late Wednesday. Cipher Mining traded up more than 13% in the after-hours session, while IREN was up about 10%, followed by Bitfarms, TeraWulf, and CleanSpark.