Por Gunay Caymaz
Investing.com – Here’s a rundown of the top 5 developments in the cryptocurrency sector on Thursday:
Bitcoin miners tend to come out of the crisis
The mining industry has suffered serious losses in the crisis environment of 2022. Current data shows that Bitcoin miners have recently started to relax.
The Puell Multiple indicator, which is used to assess the state of the Bitcoin mining industry, showed an increasing trend in mining revenues. Although the index is above 1, it indicates that miners have started to cover their costs and make a profit.
Core Scientific borrowed $70 million to avoid bankruptcy
The Bitcoin mining giant today received bankruptcy court approval to restructure its debt using a new loan from financial services firm B. Riley Financial Inc. With a new $70 million loan, the company filed for $42 million in its first bankruptcy filing.
FTX postpones sale of Japanese and European companies
Executives at bankrupt cryptocurrency exchange FTX have decided to extend the bidding period for its subsidiaries in Japan and Europe as it seeks funds to pay off its debts.
In the application filed with the bankruptcy court, it was requested that the sale process, which was scheduled for March, be extended to April. FTX received court approval to sell its subsidiaries FTX Japan, FTX Europe and Ledger to pay off debt last month.
In addition to this development, FTX Japan’s creditors are expected to be paid by the end of the month. In addition, FTX requested that the Turkish subsidiary be excluded from bankruptcy proceedings in the previous filing.
Aptos network prepares for a new update
The development team announced that the Aptos Node v1.2 version will be released on the mainnet soon.
This update aims to improve Layer 1 network performance, reduce timeouts, and support new integer types. APT, which achieved a serious 450% gain in January, should continue to rise depending on the increase in use cases and transactions with the upgrade expected to take place soon.
AVAX rises with Avalanche announcing its first enterprise subnet
AVAX’s recent rise comes with announcing a partnership with Intain, a structured finance platform. Intain operates as an on-chain marketplace for tokenized securities. Users can issue and trade securities backed by a specific asset using the Intain platform.
Avalanche announced this week that Intain will be added to the ecosystem as the first enterprise subnet. While this is considered an important milestone for the entire Avalanche ecosystem, it is expected to contribute to institutional adoption of the platform.
