Massive Ethereum Whales Acquire $59.47 Billion Worth of ETH, According to Santiment
Ethereum whales are on a buying spree, acquiring the cryptocurrency throughout 2023, as reported by Santiment. The 10 largest non-exchange Ethereum addresses now hold a record-breaking 31.8 million ETH, valued at over $59.6 billion. This surge in ownership can be attributed to the increasing adoption of self-custody and decentralized finance options. Although the crypto market experienced a significant crash due to SEC lawsuits against Binance and Coinbase, Ethereum's strong fundamentals and the support of its vibrant community suggest a potential recovery in the coming weeks.
According to Robinhood's data, the trading volume of cryptocurrencies fell to $2.1 billion in May, a decrease of 43% from the previous month and 68% from the previous year. The number of monthly active users was 10.6 million, a decrease of 8% from the previous month and 28% from the previous year. Robinhood recently delisted ADA, MATIC, and SOL due to a SEC lawsuit.
What the history of NFT on Ethereum teaches us. NFT on BTC ⛓
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We have seen, the history of the NFT market development and how it happened on ETH and other blockchains like SOL and Canto. Now it's BTC's turn... What does history teach us and what is in store for us with ordinals? 📊
➡️ If a project's main advantage is its platform, it will fade over time as attention shifts to new projects and platforms. Any NFT bought solely because it is on a "hype" blockchain will end up rekt.
➡️ Ordinals in general have a lot of potential, but most collections do
⚡️The altseason index is near historical lows (Mark 6 points).
In case anyone doesn't know, with the help of the altcoin index, investors determine by how much the growth of the first cryptocurrency differs from its competitors.
The higher the index score, the stronger the gap for altcoins:
0-45 means bitcoin season;
45-55 means parity in growth;
60 and above means a change in trend.
💬 Seasons are cyclical. With the index, investors assess what stage the cryptocurrency markets are in. This information is useful for assessing the likelihood of price mo
XRP Prices Soars as Ripple Scores Legal Victory Against SEC
In the ongoing legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC), Ripple has achieved another victory. The judge overseeing the case denied the SEC's motion to seal documents related to a 2018 speech by former SEC director William Hinman. The judge ruled that these documents are judicial documents subject to public access. Ripple CEO Brad Garlinghouse hailed this decision as a win for transparency. The outcome has been positively received by XRP holders, leading t
Mark Yusko Expresses Confidence in Upcoming Crypto Bull Run
Mark Yusko, the founder and CEO of Morgan Creek Digital, remains confident in his prediction of an upcoming bull market for digital assets. However, he now believes that his initial timeline may have been too early. In an interview, Yusko expressed his anticipation for a "crypto summer" to commence around mid-June, revising his previous expectation for this month. He also noted the surprising resilience of Bitcoin despite significant bank failures occurring this year. Yusko sees this as an indication of valuable information regarding the cryptocurrency's strength and potential.
5 cryptocurrencies under $0.10 to buy in June 2023
The first five months of 2023 have been nothing short of exhilarating in the world of cryptocurrencies. After a challenging year in 2022, major digital assets have staged an impressive rebound, revitalizing the market and reigniting investor optimism.
However, amidst this renewed vigor, it is fascinating to observe how the spotlight has also found its way to some lesser-known and more affordable cryptocurrencies.
As we approach June 2023, Finbold conducted a market analysis and hand-picked 5
Bitcoin powers sustainable energy infrastructure in rural Africa
Considering that over 500 million people in Africa live in rural communities out of reach of main power grids, mining Bitcoin (BTC) has been a challenge. However, it has also sparked some creative solutions that might not only solve the problem of Bitcoin mining but also provide reliable electricity access in general.
Indeed, one of these solutions has been to build microgrids powered by renewable energy sources, and their potential has attracted both hobbyists and companies interested in minin
MicroStrategy Empowers Corporate Clients With Lightning Network and Bitcoin Wallet Integration
MicroStrategy, led by executive chairman Michael Saylor, is dedicated to enhancing the Bitcoin Lightning Network. Saylor intends to offer Bitcoin wallets and Lightning addresses to all corporate account holders, streamlining the creation of Bitcoin rewards apps for stakeholders. LN adoption is flourishing in emerging markets like South America and Africa, bolstered by companies like Strike. MicroStrategy persistently explores LN-based solutions for enterprise marketing and cybersecurity. Saylor'
Fast order execution has become commonplace in today's market realities. But remember, whenever an asset is bought or sold, there must be someone on the other side of the transaction. Often that person is a market maker.
➡️ A market maker is a market participant whose role is to buy and sell an asset in order to add liquidity.
• A market maker places orders to buy/sell an asset which are executed either by market participants or by himself (to increase the trading volume).
MiCA Crypto Regulation Receives Overwhelming Support from EU Finance Ministers
The Markets in Crypto-Assets (MiCA) regulation has received overwhelming support from the Economic and Financial Affairs Council of the European Union. With an impressive 27 votes in favor, finance ministers from all member states have given the green light to this highly-anticipated legislation. In addition, the European Parliament has adopted two additional legislations concerning transfers of funds and certain crypto assets. MiCA establishes clear guidelines and requirements for cryptocurrenc
ETH can be considered both a commodity and a security🔹
The SEC and CFTC said that ETH can fall under the SEC's sphere of influence as a security and the CFTC's as a commodity, but it's too early to make conclusions with the definition of ETH🤔
Very tricky: when they need the price to go up, it's a commodity, when they need the price to go down, it's a security. In fact, it would be better to have clarity and clear regulatory rules so that big institutional money would enter the market and we would get good growth of our crypto portfolios together with the growth of total capitalization.
Ethereum Staking Returns Skyrocket, Sending Bullish Signals to Investors
The recent Ethereum upgrade, known as Shapella, has brought significant achievements to the ecosystem. ETH staking returns have surged, reaching a remarkable annualized rate of return of 8.76%. The introduction of unstaking has fostered investor confidence, leading to a deposit of 3.44 million ETH into ETH 2.0 contracts. Moreover, 2.67 million ETH has been successfully withdrawn, resulting in a net pledge of 770.70k ETH (worth approximately $1.41 billion). This upgrade holds the promise of reduced gas fees and improved scalability, providing developers with a more efficient platform.
Paul Tudor Jones Stands Firm on Bitcoin Amid Escalating Regulatory Challenges
Renowned investor Paul Tudor Jones remains unwavering in his commitment to bitcoin, expressing his dedication to maintaining a small diversification in his investment portfolio. During an interview on CNBC's "Squawk Box," Jones acknowledged potential regulatory challenges but emphasized his positive perspective on the dominant cryptocurrency. While discussing the US economy, he suggested that inflation could decrease, which might present a challenge for bitcoin. Despite the regulatory opposition