Crypto miners and exchanges show weak activity
eToro's crypto trading slumped, miner Canaan's revenue collapsed, and public companies have sold large amounts of BTC this year.
What we know
The Block reports eToro's Q3 net profit fell 74% YoY and October crypto trades dropped 62%. Canaan's revenue fell 90%, while Bitdeer posted record revenue of $320.7M. An on-chain analytics firm says 14 public companies sold 108,247 BTC this year. On-chain data shows BlackRock depositing 72,212 ETH to Coinbase Prime.
Sources
“eToro's Q3 net profit plunged 74% year over year”
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“BlackRock deposited another 72,212 $ETH”
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