Bitcoin experienced a 2.5% drop on Wednesday to $59,100 following the U.S. government’s transfer of more Silk Road-affiliated Bitcoin holdings to Coinbase Prime. Arkham Intelligence, an on-chain analysis platform, identified the move and highlighted that 10,000 BTC, valued at $593 million, had been transferred. This transfer involved moving the Bitcoin from a known U.S. government
Crypto
Sahil Arora, an Indian entrepreneur turned crypto influencer, has made headlines for his involvement in celebrity-backed meme coins. Reports from blockchain investigator ZachXBT suggest that Arora made around $3 million this year, a far cry from the initially estimated $30 million by Bubblemaps. This discrepancy raises questions about the accuracy of financial data within the
The world of cryptocurrency has seen a disturbing trend in the rise of stolen funds from crypto scams. Data shared by Chainalysis revealed that the amount of stolen funds almost doubled from $857 million to $1.58 billion by late July of this year. This represents a significant 84.4% increase compared to the same period last
Metaplanet recently made a significant investment in bitcoin, purchasing approximately $3.3 million worth of the cryptocurrency. This move is part of the Japanese investment firm’s broader strategy to expand its bitcoin holdings. With the latest purchase, Metaplanet now possesses a total of 303.095 BTC acquired for $20 million. Earlier this month, Metaplanet Inc. announced securing
In a groundbreaking move, the Singapore-based cryptocurrency exchange Crypto.com has solidified a historic partnership with the Union of European Football Associations (UEFA) Champions League. The announcement marks a significant milestone as Crypto.com becomes the official global sponsor of the prestigious football competition, establishing itself as the first and exclusive crypto platform partner. On August 14,
Core Scientific, a Bitcoin mining company based in Texas, has recently priced an increased offering of $400 million in 3.00% convertible senior notes due in 2029. The initial offering size was $350 million but has been upsized due to favorable market conditions. These notes will be settled on August 19, 2024, and will be issued
Amidst the current downturn in the market cycle, investor sentiment in the digital asset market remains uncertain. Glassnode’s analysis reveals clear signs of a resurgence in HODLing and accumulation despite the prevailing market conditions. Following bitcoin’s all-time high in March, there was a phase of supply distribution across wallets of varying sizes. However, in recent
Ethereum’s Layer 2 ecosystem has been experiencing a surge in activity, with daily transaction volumes hitting an all-time high. According to recent data, the ecosystem saw a record 12.42 million transactions on August 12, showcasing the scalability and growing user engagement of these networks. Leon Waidmann, head of research at the Onchain Foundation, highlighted the
Bitcoin’s price surged by nearly $2,000 in just one day, driven by the release of better-than-expected core PPI numbers in the United States. The leading cryptocurrency experienced a positive end to the previous business week, reaching almost $63,000 on Friday. This marked a significant recovery of over $13,000 since its drop to a 6-month low
Coinbase has raised concerns about the flaws in the US Securities and Exchange Commission’s cost-benefit analysis of the proposed rule. The crypto exchange pointed out that the SEC failed to properly assess the economic impact of the rule on efficiency, competition, and capital formation. By not considering critical information on decentralized exchange (DEX) operations and
The defunct crypto hedge fund, Three Arrows Capital (3AC), is currently embroiled in a $1.3 billion lawsuit against TerraForm Labs, a bankrupt digital assets company co-founded by Do Kwon. The liquidators of 3AC are accusing TerraForm Labs of manipulating the market for Luna and TerraUSD, resulting in artificially inflated prices for these tokens. This alleged
The current market condition has placed many new Bitcoin investors in a state of financial stress. Metrics such as the Short-Term Holder MVRV (Market Value to Realized Value) and the standard deviation (SD) of the short-term holder Cost-Basis illustrate that newer market participants are facing significant losses on their bitcoin investments. The Short-Term Holder MVRV
The US spot Ethereum ETFs saw a total inflow of $4.9 million on Monday, showcasing growing interest in the cryptocurrency market. Among the ETFs, Grayscale Ethereum Trust (ETHE) stood out as it recorded no withdrawals, marking a significant turning point since its conversion to an ETF after experiencing 14 days of outflows. The trading volume
In recent news, Sui (SUI) has experienced a remarkable 125% increase in just one week, largely attributed to the introduction of Grayscale’s Sui Trust. This surge has placed SUI among the top-performing cryptocurrencies, with a daily increase of over 9% and a weekly surge of 70%, currently valued at around $1 according to CoinGecko. The