MicroStrategy is once again planning to issue $700 million in convertible bonds.

The funds raised will traditionally be used to buy BTC.

Why Miners are Buying and Accumulating Bitcoins

▪️Canadian mining company Cathedra Bitcoin announced a shift in strategy from mining cryptocurrency to buying coins on the open market. Now, the company will focus on developing data centers and will adopt a strategy of preserving and growing its bitcoin reserves.

▪️Although bitcoin mining operations won't be completely shut down, the company plans to follow the accumulation strategy of companies like MicroStrategy. Similar to Michael Saylor's company, Cathedra Bitcoin will raise funds through borrowing to purchase cryptocurrency.

▪️In July, the largest U.S. mining company, MARA (Marathon Digital), publicly announced that it had stopped selling all mined coins and started buying bitcoins from the open market.

▪️August 2024 was one of the toughest months for bitcoin miners this year, with their revenue returning to September 2023 levels. In search of new income sources, some miners have focused on developing other business areas.

The Federal Reserve (Fed) of the United States has lowered its interest rate by 50 basis points (bps) to 4.75-5% per year.

▪️This is the first rate cut in 4.5 years. The Fed had kept the rate at 5.25-5.5% since July 2023.

▪️According to the FedWatch tool, the probability of a 50 bps cut before the Fed's decision was estimated at 55%, while the remaining 45% expected a 25 bps cut.

▪️While the market largely anticipated a 50 bps cut, economists were expecting a 25 bps move.

▪️The Fed began raising rates in March 2022. By July 2023, the rate had climbed from near zero to 5.25-5.5%—the highest since 2001.

▪️The next rate-setting meeting is scheduled for November 6-7, 2024.

This is what Warren Buffett’s and Berkshire Hathaway’s $BRK. stock portfolio looked like at the end of the second quarter.

MicroStrategy is outperforming 100% of the companies collectively included in the S&P 500.

Tokens of AI-related projects have significantly increased in value.

The market capitalization of coins categorized as AI by aggregators has grown by 6% in 24 hours, reaching $29 billion.

Some of the largest assets in this category, such as TAO, FET, NEAR, and RENDER, have gained between 20% and 80% in value over the week.

Source: CoinGecko

CoinShares (weekly report on crypto product fund flows):

Weekly inflows into crypto products = +$321 million (compared to +$436 million the previous week).

The BTCcom mining pool has undergone rebranding, with the project consolidating all products under a new brand, Clover Pool.

BTC.com's share of the global hashrate currently stands at just over 1%. The platform ranks 11th in the world by the volume of computational power operated by miners through it.

The service is owned by Hong Kong-based BIT Mining, whose shares are traded on the NYSE under the ticker BTCM. BIT Mining’s business also includes cryptocurrency mining, data center management, and equipment manufacturing. The mining pool, blockchain explorer, crypto wallet, and future Clover Pool products will now be unified under this brand.

The four largest pools collectively support over 80% of all miners. The leading pool is Foundry USA, followed by Antpool, ViaBTC, and F2Pool. The remaining 19% is divided among smaller pools, including Binance Pool, MARA Pool, and BTC.com (Clover Pool).

Source: Hashrateindex.

The average transaction fee on the Ethereum network has increased 9 times since the beginning of September, reaching $5.

Polymarket is considering launching its own token.

According to sources from The Information, the Polymarket platform is looking to raise $50 million for expansion. Additionally, the team is exploring the possibility of launching a native token. This information has not yet been confirmed. If the coin is launched, it will be distributed among investors through options for purchasing it in exchange for funding the platform.

Polymarket is the largest platform among so-called prediction markets, where participants can bet on the outcomes of future events using cryptocurrency.

By placing a bet with a clear "yes" or "no" answer—by purchasing the corresponding token—Polymarket participants determine the market's assessment of the likelihood of an event occurring. These betting tokens can be traded on the platform like on an exchange.

In May, Polymarket raised $45 million in a funding round led by billionaire Peter Thiel's Founders Fund. Vitalik Buterin also participated in the funding, calling the platform and similar prediction markets one of the primary use cases for cryptocurrency.

The platform gained popularity due to betting on the outcome of the U.S. presidential elections, with the total pool for the corresponding prediction nearly reaching $1 billion.

The current BTC cycle resembles the cycles of 2015 and 2018. If history repeats itself, a BTC peak in this cycle can be expected in October 2025.

Santiment: tokens with record developer activity on Github at the moment

The founder of Cardano, Charles Hoskinson, stated that the Ethereum network is more like a "dictatorship," where Vitalik Buterin has too much influence over the development of the decentralized network (source: Cointelegraph).

Traders are actively stocking up on "undervalued" altcoins — 10x Research

Cryptorank: recent funding rounds in crypto led by the largest venture capital funds.

Nearly all American mining companies are increasing their Bitcoin balances in 2024.

Some, such as Marathon Digital, are even purchasing additional coins from smaller miners.

Trust Wallet is set to introduce a Launchpool feature soon. More detailed information about this upcoming feature will be revealed in the near future.