Today in crypto, Solo Bitcoiner miner mines block, Tyler Winklevoss claims JPMorgan paused Gemini’s onboarding after he criticized the bank’s data access fees. Meanwhile, Ether’s surging social dominance suggests a potential price correction is on the table.
Solo BTC miner mines block, scores reward
A solo Bitcoin (BTC) miner successfully mined a block and added it to the blockchain ledger on Saturday, collecting the 3.125 BTC block reward, valued at $372,773.
The miner added block 907283, which contained 4,038 transactions and block fees totaling $3,436, through the Solo CK pool, which controls around 6.3 exahashes per second (EH/s) of computing power.
The mining industry is increasingly dominated by large, corporate players. However, solo miners continue to mine blocks, although the odds of a successful solo miner are similar to winning the lottery.
Tyler Winklevoss claims JPMorgan blocked Gemini over public criticism
Gemini co-founder Tyler Winklevoss has accused JPMorgan Chase of halting the crypto exchange’s onboarding process in response to his public criticism of the bank’s new data access policy.
In a Friday post on X, Winklevoss claimed JPMorgan retaliated after he called out the banking giant’s new move as anti-competitive behavior that could harm fintech and crypto firms.
“My tweet from last week struck a nerve. This week, JPMorgan told us that because of it they were pausing their re-onboarding of Gemini as a customer after they off-boarded us during Operation ChokePoint 2.0,” the Gemini boss wrote.
The dispute stems from a recent Bloomberg report that revealed JPMorgan’s decision to charge financial technology firms for access to customer bank data — a move Winklevoss argued would “bankrupt fintechs” that facilitate crypto purchases.
Ether’s ‘extreme euphoria’ social chatter could be a red flag for price
Ether’s recent price rally may be due for a cooldown, as a surge in social media mentions — reaching levels of “extreme euphoria” — points to the potential for a near term correction, according to sentiment platform Santiment.
However, other indicators suggest Ether’s (ETH) rally may still have room to run, which has gained more than 50% over the past 30 days.
“Social metrics are flashing warning signs. Since early May, Ethereum’s price ratio against Bitcoin has surged by an incredible 70%,” Santiment said in a report on Friday.
“This has led to extreme euphoria and a massive spike in social dominance, which is often a red flag,” Santiment added.
The sentiment provider explained that when social dominance of a cryptocurrency spikes to “unusually high levels,” it signals the asset may be overvalued. “It suggests the asset is over-hyped and the trade is becoming crowded, increasing the risk of a price correction,” the sentiment platform explained.