Bitcoin & Ethereum - The Digital Currency News

Bitcoin slammed by more than 10% to below $2,500; Ethereum down big too:

Bitcoin fell to its lowest in five days Tuesday amid uncertainty over whether the digital currency will still avoid a split.
Bitcoin dropped more than 10 percent to $2,487.13, its lowest since last Thursday when it hit a low of $2,276.16, according to CoinDesk.

The digital currency last traded just below $2,500, unchanged for the month but still more than double in value for the year.

Ethereum also traded lower, falling more than 12 percent to below $200 and hit a low of $193.71, according to TradingView charts of Coinbase data.

Hackers stole $8.4 million worth of tokens from a firm called Veritaseum, according to an online posting Monday from the firm's founder Reggie Middleton.

The news followed a July 19 report that about $32 million was stolen from three ethereum-focused wallets.
Wall Street stunned over AMD’s blowout results due to cryptocurrency mining demand
Investors are mesmerized with AMD's impressive second quarter as cryptocurrency mining demand drove the company's financial results above Wall Street's expectations.

The chipmaker reported better-than-expected second-quarter earnings and guidance Tuesday. Its shares surged more than 10 percent in after-hours trading following the report and were up more than 9 percent in early regular trading Wednesday.
AMD shares have rallied 102 percent through Tuesday in the previous 12 months compared with the S&P 500's 14 percent return. That performance ranks No. 4 in the entire S&P 500, according to FactSet.

Cryptocurrency miners use graphics cards from AMD and Nvidia to "mine" new coins, which can then be sold or held for future appreciation. AMD traditionally has a better reputation for mining cryptocurrencies.

The Ethereum cryptocurrency is up more than 2,400 percent year to date through Wednesday, while bitcoin is up about 160 percent this year, according to data from industry website CoinDesk.