China News Official Today TheBitTimes.com

Bitcoin mining stocks have been on a triple-digit-tear in 2023, but an uptick in BTC sent to exchanges hints at waning momentum. Bitcoin mining companies outperformed BTC price by a huge margin amid the recent bullish price action in the top cryptocurrency. The average year-to-date gains in 2023 across the stock s of top nine public Bitcoin mining firms by market capitalization stood at 257.14%. The figure is almost three times higher than BTC’s gain in the same period. The higher gains represent the leveraged beta effect that mining stocks enjoy. Leveraged beta suggests that during Bitcoin upside, these stocks outperform. Whereas, when Bitcoin slumps, they face deeper downside risk. Due to a high levered beta, Bitcoin’s price performance will remain a crucial factor in deter mining the direction of mining stock s. The trends within the mining sector show that miners are positioning themselves for the long-term by buying more machines. However, they have yet to exhibit accumulation...

The network previously allowed users to post on-chain messages but only in an unencrypted, completely public way. The Open Network (TON) has released an on-chain encrypted messaging feature, according to a July 3 announcement from the network’s developer, TON Foundation. The new feature allows for private messages to be sent between TON users.  TON Foundation Introduces Encrypted Transaction Messageshttps://t.co/HXKtk0gxKC pic.twitter.com/0z1z4E5ku1 — TON (@ton_blockchain) July 3, 2023 TON is a blockchain network forked from code created by the Telegram instant messaging app team. Telegram abandoned the project in July 2020, before a mainnet was ever launched. However, it open-sourced TON’s code before leaving, allowing others to continue building upon the work it had done. The current network, called “TON,” was built by the TON Foundation. The foundation claims that the network provides greater scalability and transaction throughput than other options in the Web3 ecosystem while...