June 26, 2024 3:10 PM
-
newsletter@mail.coinbase.com
Why BTC slid under $60K
This week's Coinbase Bytes discusses challenges and strategies in the cryptocurrency market, including miner adaptations and the impact of market fluctuations on Bitcoin and other cryptocurrencies.
Plus, why some BTC miners are thriving in the post-halving era View in browser 6/26/24 Some major BTC miners have been renting out their computing power to AI firms. What’s up? It’s Coinbase Bytes There’s never a dull moment on the blockc
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June 26, 2024 3:10 PM
-
newsletter@mail.coinbase.com
Why BTC slid under $60K
This week's Coinbase Bytes discusses challenges and strategies in the cryptocurrency market, including miner adaptations and the impact of market fluctuations on Bitcoin and other cryptocurrencies.
Plus, why some BTC miners are thriving in the post-halving era View in browser 6/26/24 Some major BTC miners have been renting out their computing power to AI firms. What’s up? It’s Coinbase Bytes There’s never a dull moment on the blockc
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</style></head><body style="margin:0; padding:0; background-color:#FFFFFF; font-family:Helvetica Neue,Helvetica,Arial,sans-serif; font-size:16px; color:#0A0B0D"><span style="color:transparent; visibility:hidden; display:none; opacity:0; height:0; width:0; font-size:0">Plus, why some BTC miners are thriving in the post-halving era</span><img src="https://links.coinbase.com/e/eo?_t=3aca56371967418192255878e9689713&_m=90aa37eb18d74684ad08427dd43ab65e&_e=7bvfxVvsL8vxQLMDg_IMowER8aQkMc3tIZdQUYeoO_F5gdPNfqjLxptX3RRqfNWg6r23lwDItOobXRE-FTpzQonu_hciNhhCwj9ej0bVobZ6KtR9oWYh6I3JKieuzZpdYDtU_k7wJJTJLTMUaH77okAv2TSu6kciDOV8khN09Zk%3D" width="1" height="1" style="border:0; width:1px; height:1px; border-width:0px!important; display:none!important; line-height:0!important"> <div id="root" style="min-width:320px; background-color:#FFFFFF; width:100%"><div class="block-grid" style="min-width:320px; max-width:570px; word-break:break-word; margin:0px auto"><div style="padding:0px 10px 10px"><div style="text-align:right; margin-bottom:24px"><a href="#" target="_blank" rel="noopener noreferrer" style="color:rgb(91,97,110); text-decoration:none; line-height:1.5; font-size:12px">View in browser</a></div><div style="margin-bottom:20px"><table style="width:100%"><tbody><tr><td style="text-align:left; vertical-align:middle"><a href="#" title="Coinbase Bytes" target="_blank" rel="noopener noreferrer"><img src="https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/cbytes-4x.png" height="36" style="display:block; height:36px"></a></td><td style="text-align:right"><p style="font-size:20px; color:rgb(10,11,1); margin:10px 0px 0px">6/26/24</p></td></tr></tbody></table></div><a href="#" target="_blank" rel="noopener noreferrer"><img src="https://images.ctfassets.net/q5ulk4bp65r7/64ozva2WFi6xjVZo1vIWCH/41f61de2badc55cd5b1dc6f88a09d2ba/image1.jpg" width="100%" style="display:block; width:100%"></a> <p style="margin:16px 0px 0px; line-height:1.5; word-break:break-word; font-size:12px; color:rgb(91,97,110)">Some major BTC miners have been renting out their computing power to AI firms.</p><p style="margin:48px 0px 16px; font-size:32px; line-height:1.26; word-break:break-word"><strong>What’s up? It’s Coinbase Bytes</strong></p><p style="margin:0px; line-height:1.6; word-break:break-word">There’s never a dull moment on the blockchain. Here’s what you need to know this week:</p><ul style="margin:10px 0px; padding-left:24px; line-height:1.6"><li style="margin:0px; padding:6px 0px"><strong>Bitcoin slipped under $60K to start the week. </strong>Plus, BTC ETF outflows intensified, and Ethereum fees saw their lowest levels in years. </li><li style="margin:0px; padding:6px 0px"><strong>BTC miners are adapting to the post-halving market. </strong>Despite lower revenues from mining, some firms are diversifying and reaching record valuations.</li><li style="margin:0px; padding:6px 0px"><strong>This week in numbers. </strong>The value of Mark Cuban’s recently sold NFTs, the massive transaction volume of some Wall Street firms’ private blockchains, and more.</li></ul><p style="margin:0px; padding:0px"></p><div class="desktop_hide" style="display:none; max-height:0; overflow:hidden"><table style="width:100%; table-layout:fixed; margin:0"><tbody><tr><td style="padding-top:40px"><a href="#" target="_blank" style="text-decoration:none; color:#0A0B0D"><table role="presentation" cellpadding="0" cellspacing="0"><tbody><tr><td align="left" valign="top"><table role="presentation" cellpadding="0" cellspacing="0"><tbody><tr><td align="left" valign="top"><table role="presentation" cellpadding="0" cellspacing="0"><tbody><tr><td align="left" valign="middle" width="22"><table role="presentation" cellpadding="0" cellspacing="0"><tbody><tr><td align="left" valign="top" style="padding-top:0px"><img src="https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/down-arrow_updated_2.png" width="12" style="display:block; width:12px"> </td></tr></tbody></table></td><td align="left" valign="middle"><table role="presentation" cellpadding="0" cellspacing="0"><tbody><tr><td class="whitetext whitecolor" align="left" valign="top" style="font-family:Coinbase Sans,'Inter',Arial,sans-serif; font-size:16px; line-height:24px; font-weight:600; color:#0A0B0D">Bitcoin </td></tr></tbody></table></td></tr></tbody></table></td></tr><tr><td class="whitetext whitecolor" align="left" valign="top" style="font-family:Coinbase Sans,'Inter',Arial,sans-serif; font-size:16px; line-height:24px; font-weight:400; color:#0A0B0D; padding-top:5px; padding-bottom:5px; padding-left:22px">$60,900.00 </td></tr><tr><td class="whitetext whitecolor" align="left" valign="top" style="font-family:Coinbase Sans,'Inter',Arial,sans-serif; font-size:12px; line-height:18px; font-weight:400; color:#0A0B0D; padding-left:22px">-6.34% </td></tr></tbody></table></td></tr></tbody></table></a></td><td style="padding-top:40px"><a href="#" target="_blank" style="text-decoration:none; color:#0A0B0D"><table role="presentation" cellpadding="0" cellspacing="0"><tbody><tr><td align="left" valign="top"><table role="presentation" cellpadding="0" cellspacing="0"><tbody><tr><td align="left" valign="top"><table role="presentation" cellpadding="0" cellspacing="0"><tbody><tr><td align="left" valign="middle" width="22"><table role="presentation" cellpadding="0" cellspacing="0"><tbody><tr><td align="left" valign="top" style="padding-top:0px"><img src="https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/down-arrow_updated_2.png" width="12" style="display:block; width:12px"> </td></tr></tbody></table></td><td align="left" valign="middle"><table role="presentation" cellpadding="0" cellspacing="0"><tbody><tr><td class="whitetext whitecolor" align="left" valign="top" style="font-family:Coinbase Sans,'Inter',Arial,sans-serif; font-size:16px; line-height:24px; font-weight:600; color:#0A0B0D">Ethereum </td></tr></tbody></table></td></tr></tbody></table></td></tr><tr><td class="whitetext whitecolor" align="left" valign="top" style="font-family:Coinbase Sans,'Inter',Arial,sans-serif; font-size:16px; line-height:24px; font-weight:400; color:#0A0B0D; padding-top:5px; padding-bottom:5px; padding-left:22px">$3,382.49 </td></tr><tr><td class="whitetext whitecolor" align="left" valign="top" style="font-family:Coinbase Sans,'Inter',Arial,sans-serif; font-size:12px; line-height:18px; font-weight:400; color:#0A0B0D; padding-left:22px">-5.22% </td></tr></tbody></table></td></tr></tbody></table></a></td></tr><tr><td style="padding-top:20px"><a href="#" target="_blank" style="text-decoration:none; color:#0A0B0D"><table role="presentation" cellpadding="0" cellspacing="0"><tbody><tr><td align="left" valign="top"><table role="presentation" cellpadding="0" cellspacing="0"><tbody><tr><td align="left" valign="top"><table role="presentation" cellpadding="0" cellspacing="0"><tbody><tr><td align="left" valign="middle" width="22"><table role="presentation" cellpadding="0" cellspacing="0"><tbody><tr><td align="left" valign="top" style="padding-top:0px"><img src="https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/up-arrow_updated_2.png" width="12" style="display:block; width:12px"> </td></tr></tbody></table></td><td align="left" valign="middle"><table role="presentation" cellpadding="0" cellspacing="0"><tbody><tr><td class="whitetext whitecolor" align="left" valign="top" style="font-family:Coinbase Sans,'Inter',Arial,sans-serif; font-size:16px; line-height:24px; font-weight:600; color:#0A0B0D">Solana </td></tr></tbody></table></td></tr></tbody></table></td></tr><tr><td class="whitetext whitecolor" align="left" valign="top" style="font-family:Coinbase Sans,'Inter',Arial,sans-serif; font-size:16px; line-height:24px; font-weight:400; color:#0A0B0D; padding-top:5px; padding-bottom:5px; padding-left:22px">$136.62 </td></tr><tr><td class="whitetext whitecolor" align="left" valign="top" style="font-family:Coinbase Sans,'Inter',Arial,sans-serif; font-size:12px; line-height:18px; font-weight:400; color:#0A0B0D; padding-left:22px">+0.81% </td></tr></tbody></table></td></tr></tbody></table></a></td><td style="padding-top:20px"><a href="#" target="_blank" style="text-decoration:none; color:#0A0B0D"><table role="presentation" cellpadding="0" cellspacing="0"><tbody><tr><td align="left" valign="top"><table role="presentation" cellpadding="0" cellspacing="0"><tbody><tr><td align="left" valign="top"><table role="presentation" cellpadding="0" cellspacing="0"><tbody><tr><td align="left" valign="middle" width="22"><table role="presentation" cellpadding="0" cellspacing="0"><tbody><tr><td align="left" valign="top" style="padding-top:0px"><img src="https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/down-arrow_updated_2.png" width="12" style="display:block; width:12px"> </td></tr></tbody></table></td><td align="left" valign="middle"><table role="presentation" cellpadding="0" cellspacing="0"><tbody><tr><td class="whitetext whitecolor" align="left" valign="top" style="font-family:Coinbase Sans,'Inter',Arial,sans-serif; font-size:16px; line-height:24px; font-weight:600; color:#0A0B0D">XRP </td></tr></tbody></table></td></tr></tbody></table></td></tr><tr><td class="whitetext whitecolor" align="left" valign="top" style="font-family:Coinbase Sans,'Inter',Arial,sans-serif; font-size:16px; line-height:24px; font-weight:400; color:#0A0B0D; padding-top:5px; padding-bottom:5px; padding-left:22px">$0.47 </td></tr><tr><td class="whitetext whitecolor" align="left" valign="top" style="font-family:Coinbase Sans,'Inter',Arial,sans-serif; font-size:12px; line-height:18px; font-weight:400; color:#0A0B0D; padding-left:22px">-4.69% </td></tr></tbody></table></td></tr></tbody></table></a></td></tr><tr><td style="padding-top:20px"><a href="#" target="_blank" style="text-decoration:none; color:#0A0B0D"><table role="presentation" cellpadding="0" cellspacing="0"><tbody><tr><td align="left" valign="top"><table role="presentation" cellpadding="0" cellspacing="0"><tbody><tr><td align="left" valign="top"><table role="presentation" cellpadding="0" cellspacing="0"><tbody><tr><td align="left" valign="middle" width="22"><table role="presentation" cellpadding="0" cellspacing="0"><tbody><tr><td align="left" valign="top" style="padding-top:0px"><img src="https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/up-arrow_updated_2.png" width="12" style="display:block; width:12px"> </td></tr></tbody></table></td><td align="left" valign="middle"><table role="presentation" cellpadding="0" cellspacing="0"><tbody><tr><td class="whitetext whitecolor" align="left" valign="top" style="font-family:Coinbase Sans,'Inter',Arial,sans-serif; font-size:16px; line-height:24px; font-weight:600; color:#0A0B0D">Dogecoin </td></tr></tbody></table></td></tr></tbody></table></td></tr><tr><td class="whitetext whitecolor" align="left" valign="top" style="font-family:Coinbase Sans,'Inter',Arial,sans-serif; font-size:16px; line-height:24px; font-weight:400; color:#0A0B0D; padding-top:5px; padding-bottom:5px; padding-left:22px">$0.12 </td></tr><tr><td class="whitetext whitecolor" align="left" valign="top" style="font-family:Coinbase Sans,'Inter',Arial,sans-serif; font-size:12px; line-height:18px; font-weight:400; color:#0A0B0D; padding-left:22px">+0.25% </td></tr></tbody></table></td></tr></tbody></table></a></td><td style="padding-top:20px"><a href="#" target="_blank" style="text-decoration:none; color:#0A0B0D"><table role="presentation" cellpadding="0" cellspacing="0"><tbody><tr><td align="left" valign="top"><table role="presentation" cellpadding="0" cellspacing="0"><tbody><tr><td align="left" valign="top"><table role="presentation" cellpadding="0" cellspacing="0"><tbody><tr><td align="left" valign="middle" width="22"><table role="presentation" cellpadding="0" cellspacing="0"><tbody><tr><td align="left" valign="top" style="padding-top:0px"><img src="https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/up-arrow_updated_2.png" width="12" style="display:block; width:12px"> </td></tr></tbody></table></td><td align="left" valign="middle"><table role="presentation" cellpadding="0" cellspacing="0"><tbody><tr><td class="whitetext whitecolor" align="left" valign="top" style="font-family:Coinbase Sans,'Inter',Arial,sans-serif; font-size:16px; line-height:24px; font-weight:600; color:#0A0B0D">Cardano </td></tr></tbody></table></td></tr></tbody></table></td></tr><tr><td class="whitetext whitecolor" align="left" valign="top" style="font-family:Coinbase Sans,'Inter',Arial,sans-serif; font-size:16px; line-height:24px; font-weight:400; color:#0A0B0D; padding-top:5px; padding-bottom:5px; padding-left:22px">$0.39 </td></tr><tr><td class="whitetext whitecolor" align="left" valign="top" style="font-family:Coinbase Sans,'Inter',Arial,sans-serif; font-size:12px; line-height:18px; font-weight:400; color:#0A0B0D; padding-left:22px">+0.41% </td></tr></tbody></table></td></tr></tbody></table></a></td></tr></tbody></table></div><div class="mobile_hide"><table style="width:100%; table-layout:fixed; margin:0"><tbody><tr><td style="padding-top:40px"><a href="#" target="_blank" style="text-decoration:none; color:#0A0B0D"><table role="presentation" cellpadding="0" cellspacing="0"><tbody><tr><td align="left" valign="top"><table role="presentation" cellpadding="0" cellspacing="0"><tbody><tr><td align="left" valign="top"><table role="presentation" cellpadding="0" cellspacing="0"><tbody><tr><td align="left" valign="middle" width="22"><table role="presentation" cellpadding="0" cellspacing="0"><tbody><tr><td align="left" valign="top" style="padding-top:0px"><img src="https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/down-arrow_updated_2.png" width="12" style="display:block; width:12px"> </td></tr></tbody></table></td><td align="left" valign="middle"><table role="presentation" cellpadding="0" cellspacing="0"><tbody><tr><td class="whitetext whitecolor" align="left" valign="top" style="font-family:Coinbase Sans,'Inter',Arial,sans-serif; font-size:16px; line-height:24px; font-weight:600; color:#0A0B0D">Bitcoin </td></tr></tbody></table></td></tr></tbody></table></td></tr><tr><td class="whitetext whitecolor" align="left" valign="top" style="font-family:Coinbase Sans,'Inter',Arial,sans-serif; font-size:16px; line-height:24px; font-weight:400; color:#0A0B0D; padding-top:5px; padding-bottom:5px; padding-left:22px">$60,900.00 </td></tr><tr><td class="whitetext whitecolor" align="left" valign="top" style="font-family:Coinbase Sans,'Inter',Arial,sans-serif; font-size:12px; line-height:18px; font-weight:400; color:#0A0B0D; padding-left:22px">-6.34% </td></tr></tbody></table></td></tr></tbody></table></a></td><td style="padding-top:40px"><a href="#" target="_blank" style="text-decoration:none; color:#0A0B0D"><table role="presentation" cellpadding="0" cellspacing="0"><tbody><tr><td align="left" valign="top"><table role="presentation" cellpadding="0" cellspacing="0"><tbody><tr><td align="left" valign="top"><table role="presentation" cellpadding="0" cellspacing="0"><tbody><tr><td align="left" valign="middle" width="22"><table role="presentation" cellpadding="0" cellspacing="0"><tbody><tr><td align="left" valign="top" style="padding-top:0px"><img src="https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/down-arrow_updated_2.png" width="12" style="display:block; width:12px"> </td></tr></tbody></table></td><td align="left" valign="middle"><table role="presentation" cellpadding="0" cellspacing="0"><tbody><tr><td class="whitetext whitecolor" align="left" valign="top" style="font-family:Coinbase Sans,'Inter',Arial,sans-serif; font-size:16px; line-height:24px; font-weight:600; color:#0A0B0D">Ethereum </td></tr></tbody></table></td></tr></tbody></table></td></tr><tr><td class="whitetext whitecolor" align="left" valign="top" style="font-family:Coinbase Sans,'Inter',Arial,sans-serif; font-size:16px; line-height:24px; font-weight:400; color:#0A0B0D; padding-top:5px; padding-bottom:5px; padding-left:22px">$3,382.49 </td></tr><tr><td class="whitetext whitecolor" align="left" valign="top" style="font-family:Coinbase Sans,'Inter',Arial,sans-serif; font-size:12px; line-height:18px; font-weight:400; color:#0A0B0D; padding-left:22px">-5.22% </td></tr></tbody></table></td></tr></tbody></table></a></td><td style="padding-top:40px"><a href="#" target="_blank" style="text-decoration:none; color:#0A0B0D"><table role="presentation" cellpadding="0" cellspacing="0"><tbody><tr><td align="left" valign="top"><table role="presentation" cellpadding="0" cellspacing="0"><tbody><tr><td align="left" valign="top"><table role="presentation" cellpadding="0" cellspacing="0"><tbody><tr><td align="left" valign="middle" width="22"><table role="presentation" cellpadding="0" cellspacing="0"><tbody><tr><td align="left" valign="top" style="padding-top:0px"><img src="https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/up-arrow_updated_2.png" width="12" style="display:block; width:12px"> </td></tr></tbody></table></td><td align="left" valign="middle"><table role="presentation" cellpadding="0" cellspacing="0"><tbody><tr><td class="whitetext whitecolor" align="left" valign="top" style="font-family:Coinbase Sans,'Inter',Arial,sans-serif; font-size:16px; line-height:24px; font-weight:600; color:#0A0B0D">Solana </td></tr></tbody></table></td></tr></tbody></table></td></tr><tr><td class="whitetext whitecolor" align="left" valign="top" style="font-family:Coinbase Sans,'Inter',Arial,sans-serif; font-size:16px; line-height:24px; font-weight:400; color:#0A0B0D; padding-top:5px; padding-bottom:5px; padding-left:22px">$136.62 </td></tr><tr><td class="whitetext whitecolor" align="left" valign="top" style="font-family:Coinbase Sans,'Inter',Arial,sans-serif; font-size:12px; line-height:18px; font-weight:400; color:#0A0B0D; padding-left:22px">+0.81% </td></tr></tbody></table></td></tr></tbody></table></a></td></tr><tr><td style="padding-top:20px"><a href="#" target="_blank" style="text-decoration:none; color:#0A0B0D"><table role="presentation" cellpadding="0" cellspacing="0"><tbody><tr><td align="left" valign="top"><table role="presentation" cellpadding="0" cellspacing="0"><tbody><tr><td align="left" valign="top"><table role="presentation" cellpadding="0" cellspacing="0"><tbody><tr><td align="left" valign="middle" width="22"><table role="presentation" cellpadding="0" cellspacing="0"><tbody><tr><td align="left" valign="top" style="padding-top:0px"><img src="https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/down-arrow_updated_2.png" width="12" style="display:block; width:12px"> </td></tr></tbody></table></td><td align="left" valign="middle"><table role="presentation" cellpadding="0" cellspacing="0"><tbody><tr><td class="whitetext whitecolor" align="left" valign="top" style="font-family:Coinbase Sans,'Inter',Arial,sans-serif; font-size:16px; line-height:24px; font-weight:600; color:#0A0B0D">XRP </td></tr></tbody></table></td></tr></tbody></table></td></tr><tr><td class="whitetext whitecolor" align="left" valign="top" style="font-family:Coinbase Sans,'Inter',Arial,sans-serif; font-size:16px; line-height:24px; font-weight:400; color:#0A0B0D; padding-top:5px; padding-bottom:5px; padding-left:22px">$0.47 </td></tr><tr><td class="whitetext whitecolor" align="left" valign="top" style="font-family:Coinbase Sans,'Inter',Arial,sans-serif; font-size:12px; line-height:18px; font-weight:400; color:#0A0B0D; padding-left:22px">-4.69% </td></tr></tbody></table></td></tr></tbody></table></a></td><td style="padding-top:20px"><a href="#" target="_blank" style="text-decoration:none; color:#0A0B0D"><table role="presentation" cellpadding="0" cellspacing="0"><tbody><tr><td align="left" valign="top"><table role="presentation" cellpadding="0" cellspacing="0"><tbody><tr><td align="left" valign="top"><table role="presentation" cellpadding="0" cellspacing="0"><tbody><tr><td align="left" valign="middle" width="22"><table role="presentation" cellpadding="0" cellspacing="0"><tbody><tr><td align="left" valign="top" style="padding-top:0px"><img src="https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/up-arrow_updated_2.png" width="12" style="display:block; width:12px"> </td></tr></tbody></table></td><td align="left" valign="middle"><table role="presentation" cellpadding="0" cellspacing="0"><tbody><tr><td class="whitetext whitecolor" align="left" valign="top" style="font-family:Coinbase Sans,'Inter',Arial,sans-serif; font-size:16px; line-height:24px; font-weight:600; color:#0A0B0D">Dogecoin </td></tr></tbody></table></td></tr></tbody></table></td></tr><tr><td class="whitetext whitecolor" align="left" valign="top" style="font-family:Coinbase Sans,'Inter',Arial,sans-serif; font-size:16px; line-height:24px; font-weight:400; color:#0A0B0D; padding-top:5px; padding-bottom:5px; padding-left:22px">$0.12 </td></tr><tr><td class="whitetext whitecolor" align="left" valign="top" style="font-family:Coinbase Sans,'Inter',Arial,sans-serif; font-size:12px; line-height:18px; font-weight:400; color:#0A0B0D; padding-left:22px">+0.25% </td></tr></tbody></table></td></tr></tbody></table></a></td><td style="padding-top:20px"><a href="#" target="_blank" style="text-decoration:none; color:#0A0B0D"><table role="presentation" cellpadding="0" cellspacing="0"><tbody><tr><td align="left" valign="top"><table role="presentation" cellpadding="0" cellspacing="0"><tbody><tr><td align="left" valign="top"><table role="presentation" cellpadding="0" cellspacing="0"><tbody><tr><td align="left" valign="middle" width="22"><table role="presentation" cellpadding="0" cellspacing="0"><tbody><tr><td align="left" valign="top" style="padding-top:0px"><img src="https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/up-arrow_updated_2.png" width="12" style="display:block; width:12px"> </td></tr></tbody></table></td><td align="left" valign="middle"><table role="presentation" cellpadding="0" cellspacing="0"><tbody><tr><td class="whitetext whitecolor" align="left" valign="top" style="font-family:Coinbase Sans,'Inter',Arial,sans-serif; font-size:16px; line-height:24px; font-weight:600; color:#0A0B0D">Cardano </td></tr></tbody></table></td></tr></tbody></table></td></tr><tr><td class="whitetext whitecolor" align="left" valign="top" style="font-family:Coinbase Sans,'Inter',Arial,sans-serif; font-size:16px; line-height:24px; font-weight:400; color:#0A0B0D; padding-top:5px; padding-bottom:5px; padding-left:22px">$0.39 </td></tr><tr><td class="whitetext whitecolor" align="left" valign="top" style="font-family:Coinbase Sans,'Inter',Arial,sans-serif; font-size:12px; line-height:18px; font-weight:400; color:#0A0B0D; padding-left:22px">+0.41% </td></tr></tbody></table></td></tr></tbody></table></a></td></tr></tbody></table></div><p style="margin:20px 0px 0px; line-height:1.5; word-break:break-word; color:rgb(91,97,110); font-size:12px">Price changes are for the past week, ending on Jun 26, 2024 at 09:16 PM UTC</p><div class="cta_button" style="margin:24px 0px 0px; padding:0px; width:50%"><a href="#" target="_blank" rel="noopener noreferrer" style="display:block; margin:0px; line-height:1.2; font-size:16px; text-decoration:none; color:rgb(255,255,255); background-color:rgb(0,82,255); border-radius:30px; text-align:center; padding:18px 0px"><strong>See the latest prices</strong></a></div><table width="100%" role="presentation" style="table-layout:fixed; vertical-align:top; border-spacing:0px; border-collapse:collapse; min-width:100%"><tbody><tr style="vertical-align:top"><td valign="top" style="word-break:break-word; vertical-align:top; min-width:100%; padding:48px 0px"><table border="0" cellpadding="0" cellspacing="0" width="100%" align="center" role="presentation" style="table-layout:fixed; vertical-align:top; border-spacing:0px; border-collapse:collapse; border-top:2px solid rgb(222,224,226); width:100%"><tbody><tr style="vertical-align:top"><td valign="top" style="word-break:break-word; vertical-align:top"><span></span></td></tr></tbody></table></td></tr></tbody></table><div><table style="margin:0px; padding:0px"><tbody><tr><td style="margin:0px; padding-right:11px; vertical-align:middle"><img src="https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/dot-1.5x.png" width="12" height="12" style="display:block; width:12px; height:12px"></td><td style="margin:0px; padding:0px; vertical-align:middle"><p style="margin:0px; font-size:16px; letter-spacing:0.075em"><strong>MARKET BYTES </strong></p></td></tr></tbody></table><p style="margin:5px 0px 0px; font-size:32px; line-height:1.26; word-break:break-word"><strong>Crypto prices slip in one of 2024’s worst weeks</strong></p></div><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word">In crypto’s <a href="#" target="_blank" rel="noopener noreferrer">second-worst week of 2024</a>, prices for a wide range of tokens saw significant dips. Bitcoin fell to around $58,500 on Monday before rebounding; an index made up of the 100 biggest tokens slid 5% for the week ending Sunday; and SOL and ETH entered their longest stretch of down weeks since 2022.</p><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word">What’s behind the decline? Some of it, reports Bloomberg, is a response to stubbornly high inflation, which has kept interest rates at two-decade highs. At a recent meeting, the Federal Reserve <a href="#" target="_blank" rel="noopener noreferrer">signaled</a> that it planned to cut rates just once this year, down from the multiple cuts it had indicated previously. </p><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word">Let’s dig into a few more of the major market stories of the week.</p><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word"><strong>BTC ETFs outflows grew and long positions got liquidated </strong></p><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word">For the second week in a row, crypto investment products (mostly in the form of the major U.S.-based spot BTC ETFs) shed around $600 million. Two-week outflows now total around $1.2 billion, <a href="#" target="_blank" rel="noopener noreferrer">according to CoinShares</a>, the worst stretch since the spot BTC ETFs launched in January. </p><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word">But ETF outflows weren’t the only story. Over the weekend, falling prices caused $150 billion in long positions (bullish derivative trades) to be <a href="#" target="_blank" rel="noopener noreferrer">liquidated</a>. </p><ul style="margin:10px 0px 0px; padding-left:24px; line-height:1.6"><li style="margin:0px; padding:6px 0px"><strong>Miner threat?...</strong> Some analysts attributed the recent dip and resulting liquidations to a surge in BTC hitting the market from crypto whales including miners, who have needed to raise capital in a post-halving landscape (more on mining below).<br><br>“Miners have been under tremendous pressure to sell given higher breakeven prices post-halving,” noted Singapore-based QCP Capital. “Miner BTC holdings have dropped to the lowest level we've seen in the past 14 years.”</li></ul><p style="margin:0px; padding:0px"></p><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word"><strong>Mt. Gox prepares to return $9 billion in crypto </strong></p><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word">The Tokyo-based exchange, which shuttered a decade ago, has an October deadline to return the crypto it still holds to customers. This week, the court-appointed trustee administering the returns <a href="#" target="_blank" rel="noopener noreferrer">announced</a> that around $9 billion in crypto would begin moving back to customers by early July.</p><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word">According to the Block, bitcoin fell around 3% following the announcement, adding to pressures related to macroeconomic worries, ETF outflows, and long-position liquidations. </p><ul style="margin:10px 0px 0px; padding-left:24px; line-height:1.6"><li style="margin:0px; padding:6px 0px"><strong>On the other hand… </strong>Some analysts <a href="#" target="_blank" rel="noopener noreferrer">suggest</a> that worries about Mt. Gox’s market impact are overblown. “We think fewer coins will be distributed than people think and that it will cause less bitcoin sell pressure than market expects,” said Alex Thorn, head of research at Galaxy.</li></ul><p style="margin:0px; padding:0px"></p><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word"><strong>ETH fees hit lowest level in years</strong></p><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word">The news this week isn’t all bad: After hitting an average high north of $30 in March, <a href="#" target="_blank" rel="noopener noreferrer">gas fees on the Ethereum network fell</a> to $1.34 on June 22 — the lowest level since April 2020.</p><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word">The low fees appear to be the result of Ethereum’s <a href="#" target="_blank" rel="noopener noreferrer">Dencun</a> upgrade, which went live earlier this year, and was designed to help layer 2 blockchains like Optimism, Polygon, Arbitrum, and Base (which was incubated by Coinbase) move and store data more quickly. (Layer 2 blockchains work kind of like HOV lanes on a highway, moving some traffic off of the main blockchain.) </p><ul style="margin:10px 0px 0px; padding-left:24px; line-height:1.6"><li style="margin:0px; padding:6px 0px"><strong>Why does Dencun get the credit?...</strong> Because there hasn’t been a <a href="#" target="_blank" rel="noopener noreferrer">major dip in transaction volume</a>. The combination of high demand and historically low fees show that the efficiencies Dencun promised are working. “Data from Etherscan shows daily transactions dipping from a local high of 1.37 million on March 20 and largely trending between 1.1 million and 1.3 million since,” the Defiant <a href="#" target="_blank" rel="noopener noreferrer">reported</a>.</li></ul><p style="margin:0px; padding:0px"></p><div class="cta_button" style="margin:24px 0px 0px; padding:0px; width:50%"><a href="#" target="_blank" rel="noopener noreferrer" style="display:block; margin:0px; line-height:1.2; font-size:16px; text-decoration:none; color:rgb(255,255,255); background-color:rgb(0,82,255); border-radius:30px; text-align:center; padding:18px 0px"><strong>Read more market insights</strong></a></div><a href="#" target="_blank" rel="noopener noreferrer"><div class="desktop_hide" style="display:none; max-height:0px; overflow:hidden"><img src="https://images.ctfassets.net/q5ulk4bp65r7/36W6K3pqbJnxhREOTyVWyH/cd7ea8c3dd2ce2f2419192b4401d4475/2024__1_.png" width="100%" style="display:block; width:100%; margin:64px 0px"></div><div class="mobile_hide"><img src="https://images.ctfassets.net/q5ulk4bp65r7/4thbUYa0ERM6l7EtmNEsmW/aa5d4e199b6fe066d63f9d76c93d30bc/2024.png" width="100%" style="display:block; width:100%; margin:64px 0px"></div></a><div><table style="margin:0px; padding:0px"><tbody><tr><td style="margin:0px; padding-right:11px; vertical-align:middle"><img src="https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/dot-1.5x.png" width="12" height="12" style="display:block; width:12px; height:12px"></td><td style="margin:0px; padding:0px; vertical-align:middle"><p style="margin:0px; font-size:16px; letter-spacing:0.075em"><strong>MINE GAMES </strong></p></td></tr></tbody></table><p style="margin:5px 0px 0px; font-size:32px; line-height:1.26; word-break:break-word"><strong>Why some major BTC miners are thriving in the post-halving era</strong></p></div><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word">In April, BTC’s latest <a href="#" target="_blank" rel="noopener noreferrer">halving</a> slashed the amount of new BTC generated by the network, which significantly impacted miners’ bottom lines — and particularly affected smaller and less efficient operations.</p><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word">Fast forward two months, and major publicly-traded U.S. miners have seen their collective market cap reach a new all-time high north of $22 billion, up some <a href="#" target="_blank" rel="noopener noreferrer">$4 billion</a> in June alone.</p><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word">What’s behind this reversal of fortune? The answer may surprise you. Let’s break it all down… </p><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word"><strong>Mining revenue nears record lows</strong></p><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word">Since April, when the most recent halving took place, bitcoin mining firms have been <a href="#" target="_blank" rel="noopener noreferrer">feeling the hit</a>. </p><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word">In the weeks leading up to the halving, miners’ daily revenue was generally north of $60 million. Following the halving, daily revenue has <a href="#" target="_blank" rel="noopener noreferrer">gone way down</a> — typically hovering somewhere near the $23 million that miners pocketed on June 23. </p><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word">Shrinking revenue has driven many mining firms to dip into their <a href="#" target="_blank" rel="noopener noreferrer">bitcoin stockpiles</a> to fund operations, with miners selling at least $200 million in bitcoin since the start of June.</p><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word"><strong>Some miners are diversifying into AI, and investors approve</strong></p><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word">Despite near-record low revenues, investor interest in bitcoin miners is actually rising, according to a <a href="#" target="_blank" rel="noopener noreferrer">recent report</a> from JPMorgan. </p><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word">That’s because bitcoin miners have an abundance of a resource that’s in huge demand at the moment: computing power. Bitcoin mining firms are essentially massive data centers, and have much of the infrastructure required to host AI GPUs. </p><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word">AI firm CoreWeave <a href="#" target="_blank" rel="noopener noreferrer">just signed</a> a 12-year, $3.5 billion agreement with BTC miner Core Scientific to rent about 18% of its infrastructure to run AI GPUs. Last week, mining giant Hut 8 <a href="#" target="_blank" rel="noopener noreferrer">secured $150 million</a> from the investment firm Coatue to help accelerate its growth in the AI infrastructure industry.</p><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word"><a href="#" target="_blank" rel="noopener noreferrer">JPMorgan’s report </a>also identified the miner IREN, which operates renewable-energy powered facilities, as potentially the best positioned to benefit from AI demand due to its cheap access to energy. </p><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word"><strong>Mining has also become a topic in the presidential race</strong></p><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word">Ahead of this week’s presidential debate, Republican candidate Donald Trump has taken a <a href="#" target="_blank" rel="noopener noreferrer">pro-bitcoin miner</a> position on the campaign trail. </p><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word">Following a private event with bitcoin-mining executives this month, the former president posted on the Truth Social platform that he wanted all remaining BTC to be “MADE IN THE USA!!!” </p><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word">President Biden hasn’t yet commented on bitcoin mining during the campaign, but in a preliminary budget for next fiscal year, his administration called for an eventual <a href="#" target="_blank" rel="noopener noreferrer">30% tax</a> on the electricity used by miners.</p><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word"><strong>The bottom line… </strong></p><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word">As declining revenues have forced miners to adapt, renting out computing capacity will likely make up an increasing part of the industry. </p><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word">According to Matt Brown, the COO at Core Scientific, his firm has been <a href="#" target="_blank" rel="noopener noreferrer">flooded</a> by inquiries from AI firms: “Everyone is just scrambling to figure out in the next 12 months where they can find capacity, and it is getting exponentially more difficult.”</p><div class="cta_button" style="margin:24px 0px 0px; padding:0px; width:50%"><a href="#" target="_blank" rel="noopener noreferrer" style="display:block; margin:0px; line-height:1.2; font-size:16px; text-decoration:none; color:rgb(255,255,255); background-color:rgb(0,82,255); border-radius:30px; text-align:center; padding:18px 0px"><strong>Learn more about AI and crypto</strong></a></div><table width="100%" role="presentation" style="table-layout:fixed; vertical-align:top; border-spacing:0px; border-collapse:collapse; min-width:100%"><tbody><tr style="vertical-align:top"><td valign="top" style="word-break:break-word; vertical-align:top; min-width:100%; padding:48px 0px"><table border="0" cellpadding="0" cellspacing="0" width="100%" align="center" role="presentation" style="table-layout:fixed; vertical-align:top; border-spacing:0px; border-collapse:collapse; border-top:2px solid rgb(222,224,226); width:100%"><tbody><tr style="vertical-align:top"><td valign="top" style="word-break:break-word; vertical-align:top"><span></span></td></tr></tbody></table></td></tr></tbody></table><div><table style="margin:0px; padding:0px"><tbody><tr><td style="margin:0px; padding-right:11px; vertical-align:middle"><img src="https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/dot-1.5x.png" width="12" height="12" style="display:block; width:12px; height:12px"></td><td style="margin:0px; padding:0px; vertical-align:middle"><p style="margin:0px; font-size:16px; letter-spacing:0.075em"><strong>NUMBERS TO KNOW </strong></p></td></tr></tbody></table></div><h1><strong>$1.5 trillion</strong></h1><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word">Estimated value of repurchase agreements (and other forms of securities financing) that are <a href="#" target="_blank" rel="noopener noreferrer">executed monthly</a> by finance giants including JPMorgan Chase, UBS, and HSBC using private blockchains and smart contracts. What are repurchase agreements? They’re “the lifeblood of funding in capital markets,” writes CoinDesk, “where cash is borrowed against securities, often highly liquid Treasuries, with an agreed buy-back date and price.” </p><h1><strong>$14.6 million</strong></h1><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word"><a href="#" target="_blank" rel="noopener noreferrer">Total value locked</a> on Swarm Markets, a Berlin-based tokenization platform that plans to sell NFTs that represent ownership of physical gold. The NFTs will be swappable on a peer-to-peer basis, and the platform is aiming to roll out support for other metals and even markets like carbon credits. </p><h1><strong>$38,500</strong></h1><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word">Total sales price for 14 NFTs that billionaire Mark Cuban <a href="#" target="_blank" rel="noopener noreferrer">sold this week</a> — including a Pudgy Penguin that went for 9.06 ETH (nearly $30,600 as of Tuesday). The transactions were the first NFT sales from Cuban’s wallet in over two years.</p><table width="100%" role="presentation" style="table-layout:fixed; vertical-align:top; border-spacing:0px; border-collapse:collapse; min-width:100%"><tbody><tr style="vertical-align:top"><td valign="top" style="word-break:break-word; vertical-align:top; min-width:100%; padding:48px 0px"><table border="0" cellpadding="0" cellspacing="0" width="100%" align="center" role="presentation" style="table-layout:fixed; vertical-align:top; border-spacing:0px; border-collapse:collapse; border-top:2px solid rgb(222,224,226); width:100%"><tbody><tr style="vertical-align:top"><td valign="top" style="word-break:break-word; vertical-align:top"><span></span></td></tr></tbody></table></td></tr></tbody></table><div><table style="margin:0px; padding:0px"><tbody><tr><td style="margin:0px; padding-right:11px; vertical-align:middle"><img src="https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/dot-1.5x.png" width="12" height="12" style="display:block; width:12px; height:12px"></td><td style="margin:0px; padding:0px; vertical-align:middle"><p style="margin:0px; font-size:16px; letter-spacing:0.075em"><strong>TOKEN TRIVIA </strong></p></td></tr></tbody></table><p style="margin:5px 0px 0px; font-size:32px; line-height:1.26; word-break:break-word"><strong>How many Americans sent money abroad to family and friends last year?</strong></p></div><div style="margin-top:16px"><table style="line-height:1.6; word-break:break-word"><tbody><tr><td style="padding-right:12px"><strong>A</strong></td><td>1 in 32 Americans</td></tr><tr><td style="padding-right:12px; padding-top:12px"><strong>B</strong></td><td style="padding-top:12px">1 in 24 Americans</td></tr><tr><td style="padding-right:12px; padding-top:12px"><strong>C</strong></td><td style="padding-top:12px">1 in 16 Americans</td></tr><tr><td style="padding-right:12px; padding-top:12px"><strong>D</strong></td><td style="padding-top:12px">1 in 8 Americans</td></tr></tbody></table></div><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word">Find the answer at the end of the email.</p><div class="cta_button" style="margin:24px 0px 0px; padding:0px; width:50%"><a href="#" target="_blank" rel="noopener noreferrer" style="display:block; margin:0px; line-height:1.2; font-size:16px; text-decoration:none; color:rgb(255,255,255); background-color:rgb(0,82,255); border-radius:30px; text-align:center; padding:18px 0px"><strong>Learn how crypto improves remittances</strong></a></div><table width="100%" role="presentation" style="table-layout:fixed; vertical-align:top; border-spacing:0px; border-collapse:collapse; min-width:100%"><tbody><tr style="vertical-align:top"><td valign="top" style="word-break:break-word; vertical-align:top; min-width:100%; padding:48px 0px"><table border="0" cellpadding="0" cellspacing="0" width="100%" align="center" role="presentation" style="table-layout:fixed; vertical-align:top; border-spacing:0px; border-collapse:collapse; border-top:2px solid rgb(222,224,226); width:100%"><tbody><tr style="vertical-align:top"><td valign="top" style="word-break:break-word; vertical-align:top"><span></span></td></tr></tbody></table></td></tr></tbody></table><div><table style="margin:0px; padding:0px"><tbody><tr><td style="margin:0px; padding-right:11px; vertical-align:middle"><img src="https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/dot-1.5x.png" width="12" height="12" style="display:block; width:12px; height:12px"></td><td style="margin:0px; padding:0px; vertical-align:middle"><p style="margin:0px; font-size:16px; letter-spacing:0.075em"><strong>NOW TRADING ON COINBASE </strong></p></td></tr></tbody></table></div><a href="#" target="_blank" rel="noopener noreferrer" style="color:rgb(10,11,13); text-decoration:none"><table style="margin:16px 0px 0px; width:100%"><tbody><tr><td style="font-size:32px; line-height:1.26; word-break:break-word; vertical-align:middle; white-space:nowrap"><strong>CORECHAIN</strong></td><td style="vertical-align:middle; padding-left:12px"><img src="https://asset-metadata-service-production.s3.amazonaws.com/asset_icons/34b9d194ef7eb5fc6d156de109948e779ca69d533355215a0fca7560ac83ac70.png" width="26" height="26" style="display:block; width:26px; height:26px; vertical-align:middle"></td><td style="vertical-align:middle; text-align:right; width:100%"><img src="https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/Newsletter%20Assets/newlistings_light.png" width="21" height="18" style="width:21px; height:18px; vertical-align:middle"></td></tr></tbody></table><p style="margin:0px; line-height:1.6">Core Chain is a Bitcoin-powered, EVM-compatible layer one blockchain that combines Delegated Proof of Work (DPoW) and Delegated Proof of Stake (DPoS). </p></a><a href="#" target="_blank" rel="noopener noreferrer" style="color:rgb(10,11,13); text-decoration:none"><table style="margin:16px 0px 0px; width:100%"><tbody><tr><td style="font-size:32px; line-height:1.26; word-break:break-word; vertical-align:middle; white-space:nowrap"><strong>EURC</strong></td><td style="vertical-align:middle; padding-left:12px"><img src="https://asset-metadata-service-production.s3.amazonaws.com/asset_icons/54f4216472dd25b1ffb5caf32cc0d81f645c84be166cd713f759a80f05a1418f.png" width="26" height="26" style="display:block; width:26px; height:26px; vertical-align:middle"></td><td style="vertical-align:middle; text-align:right; width:100%"><img src="https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/Newsletter%20Assets/newlistings_light.png" width="21" height="18" style="width:21px; height:18px; vertical-align:middle"></td></tr></tbody></table><p style="margin:0px; line-height:1.6">EURC is an ERC-20 stablecoin that is pegged on a 1:1 basis to the euro. </p></a><table width="100%" role="presentation" style="table-layout:fixed; vertical-align:top; border-spacing:0px; border-collapse:collapse; min-width:100%"><tbody><tr style="vertical-align:top"><td valign="top" style="word-break:break-word; vertical-align:top; min-width:100%; padding:48px 0px"><table border="0" cellpadding="0" cellspacing="0" width="100%" align="center" role="presentation" style="table-layout:fixed; vertical-align:top; border-spacing:0px; border-collapse:collapse; border-top:2px solid rgb(222,224,226); width:100%"><tbody><tr style="vertical-align:top"><td valign="top" style="word-break:break-word; vertical-align:top"><span></span></td></tr></tbody></table></td></tr></tbody></table><p style="margin:0px; line-height:1.6; word-break:break-word"><strong>Trivia answer</strong></p><table style="margin:12px 0px 0px; line-height:1.6; word-break:break-word"><tbody><tr><td style="padding-right:12px"><strong>D</strong></td><td>1 in 8 Americans</td></tr></tbody></table><table style="margin:48px 0px 0px"><tbody><tr><td style="text-align:left"><img src="https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/Rebrand%20Assets/coinbase_footer_wordmark.png" alt="Coinbase" height="26" style="display:block; height:26px; margin-bottom:24px"></td></tr><tr><td><a href="#" title="coinbase ios app" target="_blank" rel="noopener noreferrer"><img src="https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/Icons/app_apple.png" alt="Download on iOS App store" height="46" style="display:block; height:46px; margin-right:8px"></a></td><td><a href="#" title="coinbase android app" target="_blank" rel="noopener noreferrer"><img src="https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/Icons/app_google.png" alt="Download on Google Play" height="46" style="display:block; height:46px"></a></td></tr></tbody></table><div style="margin-top:24px"><p style="font-size:12px; line-height:1.8; word-break:break-word; color:rgb(91,97,110)">Disclaimer: This material is the property of Coinbase, Inc., its parent and affiliates ("Coinbase"). The views and opinions expressed herein are those of the author and do not necessarily reflect the views of Coinbase or its employees and summarizes information and articles with respect to cryptocurrencies or related topics that the author believes may be of interest. This material is for informational purposes only, and is not (i) an offer, or solicitation of an offer, to invest in, or to buy or sell, any interests or shares, or to participate in any investment or trading strategy, (ii) intended to provide accounting, legal, or tax advice, or investment recommendations or (iii) an official statement of Coinbase. No representation or warranty is made, expressed or implied, with respect to the accuracy or completeness of the information or to the future performance of any digital asset, financial instrument or other market or economic measure. The information is believed to be current as of the date indicated on the materials. Recipients should consult their advisors before making any investment decision. Coinbase may have financial interests in, or relationships with, some of the entities and/or publications discussed or otherwise referenced in the materials. Certain links that may be provided in the materials are provided for convenience and do not imply Coinbase's endorsement, or approval of any third-party websites or their content. <br><br>Coinbase is licensed to engage in Virtual Currency Business Activity by the New York State Department of Financial Services. <br><br>© Coinbase 2024 | Coinbase Inc. <br>248 3rd St #434 <br>Oakland | CA 94607 | US <br><a href="#">www.coinbase.com</a> <br><a href="#">Get in touch</a> <br><br><br><a href="#" style="text-decoration:none">Unsubscribe</a> from future editions of Coinbase Bytes.</p></div></div></div></div><img alt="" src="http://comm.coinbase.com/CI0/0100019056999854-39132412-6a15-4e9c-9778-0f89f2c4329b-000000/x3Rt3K_Rno02qlKj2-UpTpJSWOtF3m1Q_IvkLejwjiE=359" style="display:none; width:1px; height:1px"> </body></html>
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