Balchunas: “It's Not ETF Holders, It's Former BTC Investors That Decreased Bitcoin Price”
However, Balchunas did not agree with this assessment. “Actually, the opposite is true. The new 'Boomer' ETF investors (as we predicted) are the real strong investors, while other BTC holders are behind the selling pressure,” Balchunas said.

Balchunas revealed that nine new Bitcoin ETFs attracted nearly $1.2 billion in the last five days as the price fell 8%. While there were outflows in the Grayscale Bitcoin Trust (GBTC), Balchunas explained that this was largely due to Genesis investors exchanging GBTC holdings for spot BTC, resulting in a net neutral event.

“When we add these up, ETFs have actually been net buyers of BTC (and none of the new money has left, even more has entered),” Balchunas concluded.

#HotTrends #BTC🔥🔥🔥🔥 $BTC

🗓️2024 Crypto March Calendar
Mark your Crypto events!
1 Mar : $UNI - Fee switch proposal starts
1 Mar : $CELO - L2 Migration details
4 Mar : $MNT - $30M Ecofund proposal ends
4 Mar : $JUP - LFG Launchpad Voting
5 Mar : $TRUMP - U.S. Super tuesday
6 Mar : $FXS - $FXTL Airdrop Snapshot
7 Mar : $ANT $WAVES - Binance US Delisting
8 Mar : #AUCTION - Bouncebit Testnet
~9 Mar : $WEMIX - $CROW Snapshot
11 Mar : U.S. - BTFP Program ends
11 Mar : $AGLD - Utilizing ERC404
12 Mar : U.S. - CPI
12 Mar : $SSX - Upbit·Bithumb delisting
13 Mar : $ETH - Dencun Upgrade
14 Mar : U.S. - PPI
15 Mar : $FTT - FTX Creditors Meeting
16 Mar : $ARB - $2.2Bn Unlock
18 Mar : $NVDA - NVIDIA AI Conference
19 Mar : $PIXEL - $30M Unlock
20 Mar : U.S. - Fed Interest Rate Decision
21 Mar : $STRAX - StratisEVM (Token Swap)
22 Mar : XRP·SEC - Opening brief deadline
25 Mar : SEC vs Do Kwon trial
27 Mar : $VET - VeBetterDAO Mainnet beta
28 Mar : $ARTY - Artyfact NFT Marketplace
29 Mar : $OP - $90M Unlock
🔥Major Announcement
$FTM - Fantom Sonic 2.0
$ZIL - Zilliqa 2.0 White paper
$ACE - Endurance 2.0
$PRIME - Colony (White paper)
$STMX - L2 Token Launch
$PORTAL - Staking service
$MEME - Staking service
$TOKEN - TokenFi Launchpad
$JUP - LFG Launchpad
$TRX - Bias Mainnet
🌟Other undated Events
$RBN - AEVO Migration
$SAVM - Mainnet
$RON - PIXEL Airdrop to RON staker
$LSK - L2 Details Announcement
$CHZ - $PEPPER Airdrop
$METIS - De-sequencer alpha mainnet
🕹Upcoming Web3 Game
@NakamotoGames - Galactic Grail
@BuildOnBeam - Forgatten Playland
@SankoGameCorp - Sanko Original Gaming
@Aptos - Villain’s Idle RPG
@binary_x - Matthew
@GoGalaGames - Legends Reborn
* * *
💞Please Like + Repost if you enjoy this March Calendar.
➬ Follow me @EruphusonX Crypto_News for more!
🔗Sharing is welcome, just a nod to the source would be appreciated.
Thanks for reading🫡

The Bitcoin Halving reduces miner rewards, impacting supply and demand dynamics. The next Bitcoin Halving date is expected to occur in April 2024.Halving often leads to market volatility and increased speculation in the cryptocurrency space.Miners need to adapt to the reduced profitability, potentially reshaping the mining landscape.The event stimulates technological innovation and community development within the blockchain ecosystem.The Halving reinforces Bitcoin's appeal as a long-term investment asset with a potential hedge against inflation.In the world of cryptocurrency, few events carry as much weight and anticipation as the Bitcoin Halving. This process, which occurs roughly every four years, has significant implications for the entire cryptocurrency landscape, often triggering intense debates within the blockchain community. To truly grasp the importance of the Bitcoin Halving, it is crucial to understand what it entails and why it garners such widespread attention and speculation.What Is the Bitcoin Halving?The Bitcoin Halving, also known as the "Halvening," refers to a pre-coded event that happens in the Bitcoin protocol every 210,000 blocks (roughly every four years). It reduces the reward miners receive for validating blockchain transactions. This process is designed to control the issuance of new bitcoins and maintain its scarcity, thus ensuring a limited BTC supply. Essentially, the halving cuts the BTC rewards given to miners in half.In the original Bitcoin whitepaper published by the pseudonymous Satoshi Nakamoto in 2008, it was specified that there would be a finite supply of 21 million bitcoins. This fixed supply mechanism was introduced to prevent inflation and mimic the scarcity of precious metals like gold. By regulating the rate at which new bitcoins are generated, the protocol aims to create a deflationary currency with the potential to hold its value or appreciate over time.The Halving, therefore, plays a pivotal role in controlling the rate at which new bitcoins are introduced into circulation, slowing down the production of new coins over time. When Bitcoin first came into existence in 2009, miners received 50 BTC as a reward for each block they successfully added to the blockchain. The first Halving event took place in 2012, reducing the block reward to 25 BTC. Subsequent Halvings in 2016 and 2020 further decreased the reward to 12.5 and 6.25 bitcoins, respectively. The next Bitcoin Halving will reduce the block reward to 3.125 BTC and is expected to occur in April 2024 (when the block height reaches 840,000).What Happens to Your Bitcoin After Halving?After a Bitcoin halving event, your existing Bitcoin holdings remain unchanged. The halving process doesn't directly affect the number of bitcoins you hold. However, it can indirectly impact Bitcoin’s price and various aspects of the cryptocurrency ecosystem, which is precisely why investors, traders, and crypto enthusiasts pay such close attention to it. Here are a few reasons why the Bitcoin Halving is significant and why people should care:1. Supply and demand dynamicsWith the Halving reducing the rate at which new bitcoins are created, the supply side is constrained. This, in turn, affects the balance between supply and demand, potentially leading to shifts in the market value of Bitcoin. Basic economic principles dictate that when the supply decreases while demand remains constant or increases, the value of the asset is likely to rise. This anticipation of increased scarcity often leads to a surge in investor interest and speculation surrounding Bitcoin.2. Market volatilityThe Bitcoin Halving has historically been associated with heightened volatility in the cryptocurrency market. Speculators and investors closely monitor the market dynamics leading up to and following the event, trying to predict its impact on the price of Bitcoin. This anticipation often fuels price fluctuations and increased trading activity.3. Implications for minersAs the reward for mining new blocks is halved, the profitability of Bitcoin mining is directly impacted. This reduction in rewards can pose challenges for miners, especially those operating with higher energy costs and less efficient hardware. Miners need to assess the viability of their operations post-Halving and adjust their strategies accordingly. This often leads to shifts in the mining landscape, with smaller or less efficient miners potentially being pushed out of the market while larger, more resourceful operations continue to thrive.4. Technological and community developmentThe Bitcoin Halving serves as a significant milestone that prompts discussions and debates within the blockchain community. It encourages developers and stakeholders to explore innovative solutions to address the challenges posed by the changing dynamics of the Bitcoin ecosystem. This drive for technological advancement often leads to the development of new tools, protocols, and initiatives aimed at improving the scalability, efficiency, and security of the Bitcoin network, ultimately fostering its long-term sustainability and growth.5. Long-term investment implicationsFor long-term investors, the Bitcoin Halving represents a critical event that underscores the asset's deflationary nature and potential as a store of value. The predictable scarcity introduced by the Halving mechanism positions Bitcoin as a hedge against inflation and economic instability, appealing to individuals and institutions looking to diversify their investment portfolios. The Halving reinforces the narrative of Bitcoin as digital gold, reinforcing its appeal as a long-term investment asset with the potential for substantial appreciation over time.Bitcoin Halving Countdown TimerAs mentioned, the next Bitcoin Halving is expected to occur in April 2024 (when the block height reaches 840,000). To facilitate tracking, you can check the halving countdown timer on the Binance Bitcoin Halving page.Final ThoughtsThe Bitcoin Halving is not merely a technical adjustment. It’s a fundamental pillar of the cryptocurrency ecosystem that shapes the narrative and trajectory of Bitcoin's future. As each Halving event unfolds, it amplifies discussions around the intrinsic value of Bitcoin, its role in the broader financial landscape, and its potential as a transformative force in the world of digital finance.#Write2Earn #TrendingTopic #WLD

🚀🔥 Ethereum to the 🌝 moon $3k🚀According to CryptoPotato, Ethereum's price action has been bullish in recent weeks, breaking through several resistance levels. However, the price has now reached a key level that might cause problems. On the daily chart, the price has been rallying after rebounding from the $2,200 support level a month ago.Both the $2,400 and $2,700 resistance levels have been broken with ease, and the price has also pushed above the large ascending channel. The $3,000 resistance level is currently being tested, and the market is failing to climb higher. ETH’s price might decline toward the $2,700 level in case a correction occurs before breaking higher.Looking at the 4-hour timeframe, the price has broken the ascending channel to the upside, retested the higher boundary, and risen toward the $3,000 level. However, this resistance level has rejected the price to the downside, preventing a further rally. Meanwhile, the Relative Strength Index is still showing values above 50%, indicating that a bullish continuation might still be probable. Yet, the price could retest the broken boundary of the large channel before doing so.Ethereum's price has been rallying aggressively over the past few weeks, leading to significant optimism among market participants regarding future price action, as they expect ETH to make a new all-time high soon. The funding rates show whether the sellers or the buyers are executing more aggressive orders (market orders) on aggregate. Positive values are associated with bullish sentiment, while negative ones indicate bearish expectations by futures traders. It is evident that the funding rates have significantly risen over the recent uptrend. While this increase is logical due to the bullish market structure, it can also cause problems. The reasoning behind this statement is that these high values show an increased probability for long liquidation cascades, which could lead to sudden price drops.$ETH $BTC $XRP #Write2Earn #WLD #tradeNTill

🚀🔥#TrendingTopic . The token's market cap is approximately $2.47 billion according to CoinGecko. However, its fully diluted valuation (FDV) is a massive $34 billion currently.. If $STRK's FDV was considered its actual market cap, it would rank as the 6th largest cryptocurrency globally, positioned between $SOL and $XRP.. The distribution of $STRK's tokens has raised concerns among the crypto community due to nearly half of the total supply being allocated to the project, team, and investors.. There is significant worry over the planned release of 13% of $STRK's total supply to the team and investors in early April.. Initially, $STRK traded at a high of $5 on Kucoin, but it dropped to as low as $2.27 before climbing back over $3, as reported by CoinGecko.This news discusses the trading debut of Starknet's $STRK token, its market cap, concerns about token distribution, and the token's price fluctuations in the early trading phase.Based on the information provided in the post about Starknet's $STRK token, there are both positive and negative aspects mentioned that could potentially influence the token's future price movement. Positive factors:1. The token recorded a high trading price of $5 initially.2. It rebounded from a price slump to over $3.3. The token's FDV of $34 billion indicates significant market interest.Negative factors:1. Concerns raised by the crypto community about tokenomics and distribution.2. High allocation of the token's total supply to the project, team, and investors.3. Specific worry about the release of 13% of the total supply to team and investors in early April.In this context, the negative factors such as criticism from the crypto community and the large allocation of tokens to the project and investors could potentially weigh on the token's price movement. However, the high market interest reflected in the FDV and the initial positive trading price could also indicate bullish sentiments. Considering both positive and negative elements, the future price direction of Starknet's $STRK token remains uncertain and could be influenced by a variety of factors.#Write2Earn #tradeNTill #TradingWithChatGPT $BTC $ETH

🔥🔥#TrendingTopic 🔥🔥Shiba Inu was created as a direct competitor to Dogecoin, aiming to surpass it in both value and community engagement. It has built a robust ecosystem including a decentralized exchange, NFTs, and a dedicated metaverse. Focused on decentralized finance (DeFi) solutions, Shiba Inu leverages its community, known as the “ShibArmy,” for growth and development. Since its launch in 2020, Shiba Inu has experienced explosive growth, challenging Dogecoin’s dominance.#Write2Earn #Portal $BTC $SOL

Doge Uprising stands out with its unique premise, combining meme coin appeal with a gripping narrative set in 2045, where Mecha pilots fight against an oppressive regime. Powered by the $DUP token, it offers an immersive universe of Doge Mecha NFTs, fostering a community of resistance and engagement. Through ERC-20 blockchain technology, regular AMAs, airdrops, and a strong emphasis on community, Doge Uprising aims to create more than a currency. With a solid roadmap and visionary goals, Doge Uprising’s presale presents an unmatched opportunity for early investors to be part of something groundbreaking.#Write2Earn #TrendingTopic #tradeNTill #TradingWithChatGPT $DOGE $SOL $BTC

#TrendingTopic Nigeria has asked its telecommunications firms to restrict access to the websites of cryptocurrency firms such as Binance, OctaFX, Coinbase and others, months after its Central Bank issued a guideline to govern digital asset operators’ activities.In December 2023, the Central Bank of Nigeria changed its stance on crypto assets and asked banks to disregard its February 2021 ban on crypto transactions.This new restriction on crypto websites is aimed at slowing currency speculation activities in the country, with Binance stating that its platform is not for currency pricing. The platform said this after users complained about their inability to buy dollars.While noting its commitment to a market-driven, fraud-free, and manipulation-free platform for its users, Binance said, “Furthermore, as industry leaders, we are working hand in hand with local authorities, lawmakers, and regulators to ensure we act on non-compliance.”Later on Wednesday, the firm confirmed that it paused transactions to protect users from price suppression. Addressing rumours that currency speculation was thriving on its platform, the firm said, “It is important to note that foreign exchange rates are influenced by various complex factors, which Binance has no influence on.“However, we continue to actively engage with regulators, policymakers and other relevant stakeholders to foster an open, transparent dialogue about managing the evolving landscape of cryptocurrency and financial markets.”However, in a move that began as a rumour, the Nigerian Communications Commission has asked telecom firms to block access to the websites of Binance and other cryptocurrency firms.According to a top source in the telecoms industry, telcos got a directive from the commission today. The restriction is to take effect immediately, the source added. There is no timeline yet for this restriction. When Nigeria blocked access to Twitter in 2021, it asked telcos to restrict access to the platform.#Write2Earn #tradeNTill #TradingWithChatGPT

#TrendingTopic 🔥🔥 $SOL NFT sales volume drop🔥🔥In the latest news from the world of non-fungible tokens (NFTs), the Solana network recently experienced a shutdown. Still, it is now back up and running. The team behind Solana is currently investigating the cause of the problem. This downtime negatively impacted the value of Solana’s own currency, SOL, and the trading volume of trending NFTs on Solana.Before this incident, Solana was a strong NFT contender and often competed with Bitcoin for the second spot on the charts. It even overtook Bitcoin several times, with its daily NFT trading volume hovering around $7 million.As we know, in the crypto world, someone’s loss is someone’s gain. An emerging NFT crypto coin called NuggetRush has taken everyone by surprise. It is currently the most popular NFT platform and has raised over $2.3 million in its ongoing presale. What’s going on with NFT sales in SolanaSolana, a blockchain platform that facilitates the creation of unique digital assets called NFTs, witnessed a significant drop in its trade volume. In just one day, the trade volume plummeted by nearly 44%, bringing it down to $712,096. As a result, Solana now ranks sixth in terms of NFT trade volume. On the other hand, Bitcoin has regained the second spot in the NFT trade volume, with close to $8 million in trades, and is just behind Ethereum. Meanwhile, Polygon holds the third position with $1.3 million. You might also like: Solana loses over 12% in a week as active addresses decline Despite a 31% fall on the weekly leaderboard, Solana still holds the third position with $34.9 million in NFT trades. However, this is quite a bit behind Bitcoin, which saw $64.3 million in trades. Looking at the bigger picture, Solana’s NFT trade volume has decreased by 32.5% over the last month, trading at $212.3 million and currently ranked third. Solana’s NFTs are unique digital assets representing ownership over items or content. Unlike traditional cryptocurrencies like $BTC or $ETH , Solana’s NFTs are distinct and can’t be swapped equally. Thus, each Solana NFT is unique, making it sought after in various sectors such as art, music, and gaming. Solana’s high-speed transaction capabilities, which can complete thousands of transactions every second, make it an ideal platform for NFT marketplaces, ensuring users can trade quickly and smoothly. Moreover, Solana’s low transaction fees compared to other blockchains make it a popular choice among NFT creators looking to save on costs.NuggetRush receives favorable reviews from presale investors Nugget Rush is a unique crypto gaming platform that allows earning real gold while playing the game. The project is in the last presale round, and NUGX is available for $0.018. It has an online gaming marketplace where you can check out the tools required in the game and other unique items. You can exchange the assets you mine for rewards like real gold.Thanks to features like P2E gaming and NFT staking, this cryptocurrency has raised over $2.3 million from investors so far. With the staking feature, you can maximize your returns and get an extra 20% yearly return.The NFT marketplace allows you to create, trade, and exchange NFT items easily. You can also create your custom avatars on their online platform for fun. There are no taxes charged while buying or selling NFT collections.Additionally, you can get governance tokens to have rights in future developments after you join the Rush Guild on their platform.ConclusionWhile #Sol NFT sales volume has dropped significantly, NuggetRush has sealed the spotlight this month. It is an NFT gaming platform whose presale is ongoing.Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.#Write2Earn #tradeNTill #Portal

On the 20th of February, following Ethereum’s [$ETH ] price surpassing $3,000, an ICO participant, who was dormant for 8.6 years, deposited 1,732 ETH, which amounted to $5.15 million on Kraken at press time.The participant received 3,465 ETH, around $10.3 million at Ethereum’s Genesis, with the ICO price at approximately $0.31.This sudden movement could potentially impact the price dynamics of Ethereum negatively. It might introduce additional liquidity into the market, potentially influencing market sentiment.On the positive side, the participant’s return and deposit could be interpreted as a sign of confidence in Ethereum’s current price levels.It might attract the attention of other investors who perceive the market as favorable.However, there could be concerns about potential sell-offs or profit-taking strategies by long-term holders, especially if the participant decides to liquidate a portion of the deposited ETH.This could also contribute to short-term selling pressure, impacting the price temporarily.How is $ETH doing?$At press time, $ETH had slipped below the $3,000 mark, with its price trading at $2,936.98. In the last 24 hours, the king of altcoins’ price had declined by 0.26%.Despite the recent correction, the total number of addresses holding ETH had grown. This suggested that the overall interest in ETH was on the rise.However, this rising number did not seem to particularly help ETH’s case.#Write2Earn #TrendingTopic #strk #ETH

Binance has announced its 47th Launchpool Project, Portal (PORTAL), as part of its ongoing efforts to expand offerings on the Binance Launchpool. Portal (PORTAL) is poised to revolutionize the gaming industry with its innovative approach to facilitating cross-chain interactions. With $Portal (PORTAL), users can expect a seamless experience that transcends traditional gaming boundaries. This move has led a BNB price jump.The Launchpool is scheduled to commence promptly at 2024-02-22 00:00 (UTC), offering users an opportunity to get involved from the outset. As anticipation builds, the official webpage for $Portal (PORTAL) is expected to go live within the next five hours, providing users with essential information and resources to participate in the launch. $SOL $BNB $ETH #TrendingTopic #Write2Earn