Bitcoin Mining Stocks Have Halved In Price Since November – January 7

📈 30 Second Cryptocurrency Price Summary

Current Bitcoin Price$41,466

Bitcoin price has continued to slide, falling into the $41,000 range overnight as it seeks a new support level.

Top-20 altcoins also appear to be struggling, as Ethereum falls another 7%, Solana drops 9% and Cosmos stands out with a 13% gain.

Top Stories for January 7, 2022 🔥

👉 Bitcoin Mining Stocks Have Halved In Price Since November

The price of several Bitcoin mining stocks have halved in price since November, moving even more sharply than the price of Bitcoin itself.

Experts have referred to the stocks as a “turbo-charged proxy” for the price of Bitcoin, almost acting as a leveraged bet on asset. Whereas Bitcoin itself has fallen less than 40% since all-time highs, key mining stocks have far exceeded 50% losses.

Nevada’s Marathon Patent Group, Colorado’s Riot Blockchain and Toronto’s Hut 8 Mining have all more than halved in market cap since November.

👉 Solana’s Serum Protocol To Raise $100M For Expansion

The foundation behind Solana’s Serum protocol – one of the largest projects on the platform – is partway through a $100 million raise to expand its presence.

Contributions have already been made from several entities and will be used to hire new employees, as well as move into NFTs, gaming, metaverse and DAOs.

👉 Rapper Nas To Sell NFTs With Streaming Royalty Rights

Award-winning rapper Nas has announced plans to release NFTs with streaming royalty rights in two of his songs: “Ultra Black” and “Rare”.

Owners of the NFTs will receive a set percentage of streaming royalties for the relevant title. Dubbed limited digital assets (LDAs), the tokens will be sold through the NFT music platform Royal on January 11th.