Bitcoin miners combined $28 billion market cap potentially undervalued compared to BTC trading volumes

Bitcoin miners combined $28 billion market cap potentially undervalued compared to BTC trading volumes
фото показано с : cryptoslate.com

2024-10-22 15:18

Bitcoin’s daily trading volume is regularly surpassing the total market capitalization of public Bitcoin mining companies, amid concerns public miners are overvalued.

On Oct. 21, Bitcoin recorded $37 billion in spot trading volume, maintaining a trend between $20 billion and $40 billion throughout 2024. Bitcoin derivative’s open interest has also reached an all-time high of around $40 billion, with nearly double that in trading volume, according to data from Coinglass.

Bitcoin spot volume (Source: Bitcoin Visuals)

Despite opinions that mining stocks are overvalued from a fundamental perspective, market forces suggest these valuations may increase further, as noted by D.R. Lewis. He notes the entire public Bitcoin mining sector holds a market capitalization of approximately $28 billion. These companies collectively produce close to 30% of Bitcoin’s supply at scale.

The daily transactional volume on Bitcoin exchanges exceeding the total market cap of miners highlights a significant disparity in the Bitcoin miner market.

The post Bitcoin miners combined $28 billion market cap potentially undervalued compared to BTC trading volumes appeared first on CryptoSlate.

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bitcoin billion trading volume public miners market

Источник: cryptoslate.com

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US spot Bitcoin ETFs hit $30 billion in combined net inflows since January launch

BlackRock’s IBIT attracted the most at over $600 million followed by Fidelity’s FBTC with $301 million The 12 spot Bitcoin ETFs have brought in a combined $30.35 billion since launching in January US spot Bitcoin exchange-traded funds (ETFs) took in $1 billion in daily total net inflows yesterday as Bitcoin inched closer to the $100k […] The post US spot Bitcoin ETFs hit $30 billion in combined net inflows since January launch appeared first on CoinJournal.

2024-11-22 19:09


Bitcoin mining market cap eclipses $20 billion as industry continues growing amid challenges

Quick Take The Bitcoin mining industry has reached a significant milestone, surpassing a market capitalization of $20 billion, now standing at $20. 6 billion, according to Farside data. This milestone emphasizes the growing significance of public miners within the Bitcoin ecosystem, contributing approximately 28% of the global hash rate.

2024-4-5 22:19


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