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U.Today - Stories about savvy whales and investors making have become a usual part of the cryptocurrency industry, but w...
01/10/2023

U.Today - Stories about savvy whales and investors making have become a usual part of the cryptocurrency industry, but what about those who do not have the Midas touch but still manage fairly large sums of ?

One such Ethereum investor has been grabbing attention for all the wrong reasons. This individual seems to have a knack for making poor choices when it comes to perpetual contracts, and their recent moves have left many in the crypto world utterly baffled.

Crypto exchange Binance has encouraged users to start converting their Binance USD (BUSD) stablecoin holdings into other...
01/10/2023

Crypto exchange Binance has encouraged users to start converting their Binance USD (BUSD) stablecoin holdings into other available assets, including a newly listed stablecoin, amid plans to wind down support for BUSD.

In an Aug. 31 statement from Binance, the crypto exchange confirmed prior speculation that it will gradually stop support for BUSD by February 2024 — a decision in line with Paxos' plans to end BUSD redemption at that time.

Researchers behind the well-known Cambridge Bitcoin Electricity Consumption Index (CBECI) have officially revised its me...
30/09/2023

Researchers behind the well-known Cambridge Bitcoin Electricity Consumption Index (CBECI) have officially revised its methodology to enhance the accuracy and reliability of the Index’s estimates for the first time since its inception in 2019.

The CBECI was launched in July 2019 in an effort to provide reliable data-driven insights to questions about Bitcoin mining’s energy-intensive nature and associated environmental impact.

CBECI looked at U.S. import records on Bitcoin mining equipment (left) and estimated computing power derived from import data (right). Researchers used the hash rate (in TH/s) and gross weight stated by the manufacturer and applied an equally weighted mix of the following models from Canaan’s Avalon A1246, Avalon A1266, Avalon A1346 and Avalon A1366

Crypto.news - The Ethereum (ETH) price saw a notable surge on Aug. 29 after consolidating around the $1,650 mark for ten...
30/09/2023

Crypto.news - The Ethereum (ETH) price saw a notable surge on Aug. 29 after consolidating around the $1,650 mark for ten days.

However, Santiment data suggests there are still more daily transactions in loss. According to the market intelligence platform, the ratio of daily profit and loss transactions dropped to 0.62.

ETH price, ratio of daily transactions in profit to loss and whale activity – Aug. 30 | Santiment

Per Santiment, the ratio hit a three-week high of 1.37 on Aug. 29, when ETH was trading at around $1,740.

Crypto analytics platform Arkham Intelligence has revealed financial services company and crypto trading platform Robinh...
29/09/2023

Crypto analytics platform Arkham Intelligence has revealed financial services company and crypto trading platform Robinhood (NASDAQ:HOOD) as a leading holder of Ether (ETH) and the owner of the fifth-largest ETH wallet, which contains about $2.54 billion of the cryptocurrency.

Arkham stated on X (formerly Twitter) that its recognition of Robinhood possessing the third-largest Bitcoin wallet garnered significant attention. However, it said less attention has been paid to its identification of Robinhood as the holder of the fifth-largest ETH wallet. In a separate update, Arkham emphasized that these funds are user balances under custody.

Crypto.news - Non-fungible token (NFT) sales have witnessed a significant surge after taking a downward curve between Au...
29/09/2023

Crypto.news - Non-fungible token (NFT) sales have witnessed a significant surge after taking a downward curve between Aug. 25 and 29.

According to CryptoSlam, NFT sales grew by 36.5% in the past 24 hours, reaching roughly $14.25 million. Per the data aggregator, the total trades are still down by 19% from its local top of $17.61 million on Aug. 17.

Moreover, the total number of transactions and the average sale have also registered 9.05% and 32.33% hikes. Per CryptoSlam, the number of transactions has reached 277,997 while the average value of a sale grew to $51.

On the other hand, the total amount of wash trades has also risen with the NFT uptrend. According to the data provider, the NFT wash volume has risen by 4.45%, reaching $4.51 million in 28,207 wash transactions.

Per CryptoSlam, Ethereum (ETH) remains the preferred blockchain for NFT trades, with a total sales volume of $8.4 million. Polygon (MATIC) comes second with a notable share of $1.2 million.

Defunct crypto lending firm BlockFi has applied to a court to request the transfer of “trade-only” assets from its users...
28/09/2023

Defunct crypto lending firm BlockFi has applied to a court to request the transfer of “trade-only” assets from its users’ accounts into stablecoins so the individuals could withdraw them. The request marks another step toward the return of users’ funds, a process that the company began in August.

On Aug. 29, BlockFi filed an application to the United States Bankruptcy Court for the District of New Jersey to authorize the conversion of the so-called trade-only assets into stablecoins. The assets in question — Algorand’s native token, ALGO, Bitcoin Cash (B*H) and Dogecoin (DOGE) — cannot be withdrawn easily, and BlockFi suggests a one-time exchange for Gemini Dollar (GUSD) or another stablecoin.

U.Today - Several XRP transactions that make up an impressive total amount together — close to half a billion — have bee...
28/09/2023

U.Today - Several XRP transactions that make up an impressive total amount together — close to half a billion — have been spotted by the popular crypto tracking service Whale Alert over the period of the last 24 hours.

Ripple Labs giant took an active part in this, transferring part of this massive crypto stash.

Ripple sells 59 million XRP, with 483 million XRP on the move in total
The above crypto tracker spotted three XRP transfers, carrying 424,018,481 XRP; 31,000,000 XRP and 27,600,000 XRP.

Crypto.news - Bitcoin critic Peter Schiff warns that Grayscale’s recent legal victory in converting its GBTC to a spot B...
27/09/2023

Crypto.news - Bitcoin critic Peter Schiff warns that Grayscale’s recent legal victory in converting its GBTC to a spot Bitcoin ETF could be bearish for the cryptocurrency.

Schiff wrote in an Aug. 29 tweet, “GBTC becoming a spot ETF is actually bearish for Bitcoin.” He explained that traders can buy GBTC now and sell or short BTC. He added that once GBTC becomes an ETF, the discount to net asset value goes away.

The comment follows Grayscale Investments LLC securing judicial backing for initiating a Bitcoin spot ETF in the United States. Three federal judges annulled the SEC’s decision to prevent GBTC’s conversion to a spot Bitcoin ETF, allowing it to move forward instead.

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