Author: NBTC
Concerns have been raised regarding Ethereum exchange-traded funds (ETFs) viability in the market since their launch because of the volume at which they have been trading compared to Bitcoin ETFs. Data from Galaxy Research indicates that when taking into account Ethereum’s market capitalization and its trading volumes on centralized exchanges, the volume of Ethereum ETFs has not only fallen well short of the expected ratios, but has also lagged behind Bitcoin ETFs. This difference is shown very well in Galaxy’s chart. Ethereum ETFs have struggled to attract the same interest with their volumes, frequently falling short of expectations, while Bitcoin…
Ripple, the core developer of XRP Ledger (XRP) and its largest holder, will unlock 1 billion XRP on September 1. This is part of Ripple’s monthly unlocks from the token’s initial distribution and often precedes a price drop. At current prices, the unlock’s nominal value is $570 million, which will be partially sold in the next few days. Finbold retrieved data from XRPScan, showing the escrows from ‘Ripple (24)‘ and ‘Ripple (25)‘ that will finish after August 31. Specifically, the former will unlock 500 million XRP in a single transaction, while the latter will unlock 200 million and 300 million…
Telegram CEO Pavel Durov, a Franco-Russian billionaire, was released from police custody but has been transferred to a Paris courthouse, where he faces multiple charges, including terrorism and child abuse content. According to the AFP, Durov was moved on Wednesday, Aug. 28 to a Paris courthouse to face a possible indictment. Durov was arrested at Le Bourget airport near Paris over the weekend, accused of failing to moderate criminal content on his encrypted messaging platform. On Aug. 26, a French investigative judge extended Durov’s police custody for up to 48 hours, meaning Durov has to be released or charged with…
Peter Schiff, a well-known Bitcoin critic and an advocate for gold, recently took a jab at MicroStrategy’s Bitcoin-focused strategy. The recent remarks from Peter Schiff came as a response to a post by MicroStrategy’s Michael Saylor, which highlighted the company’s significant gains since adopting Bitcoin. Saylor’s post, shared to his 3.5 million X followers, stated that Bitcoin had empowered MicroStrategy to rise above the competition over the last four years. However, Schiff challenged this notion, warning that the same strategy could lead MicroStrategy to crash below the competition in the coming years. MicroStrategy’s Performance MicroStrategy’s decision to incorporate Bitcoin into…
Non-fungible token (NFT) sales have had a rough time in 2024, and August has been no exception. Following a 36.6% drop in July, August brought another significant decline, with sales falling by 41.36%. NFT Market Struggles: August Sales Plunge 41.36% After July’s Decline According to cryptoslam.io metrics, NFT sales in August tallied up to approximately $376.30 million, marking a 41.36% drop compared to July. The number of NFT buyers fell by 29.04%, while sellers saw a decrease of 17.02% during the same period. August also recorded about 7.45 million NFT transactions, which is 50% fewer than the month before. Among…
Ethereum’s (ETH) price throughout August has left investors worried owing to the intense volatility. The hope of recovery from September is high, but BeInCrypto’s analysis suggests a different direction. Ethereum May Not See a Rise Above $3,000 Ethereum’s price hovering under $2,800 may continue to do so for the foreseeable future. It might even recover to $2,900, but this could be the extent of the altcoin leader’s rise in September. This is because experts are noting a relatively bearish-neutral outcome for ETH. According to Alvin Kan, the COO at Bitget Wallet, there is a chance that ETH holders could move…
A whale or institution has recently made notable moves in the Solana (SOL) market. Two days ago, this whale unstaked and withdrew 139,532 SOL tokens. The value of these tokens was approximately $19.5 million, according to data from Lookonchain. This massive withdrawal shows that the whale has a big stake in the cryptocurrency and it could manipulate the market. A whale/institution unstaked and withdrew 139,532 $SOL($19.5M) 2 days ago.Then deposited 139,447 $SOL($19.5M) to #Binance at a loss of $5.5M in the past 2 days.The whale withdrew 138,894 $SOL($25M) from #Binance on July 22, when the price was $180.https://t.co/A6AKhPZvZn pic.twitter.com/mMnrGJD3iQ —…
According to the latest information, OPENSEA received a WELLS Notice from the SEC, which means that a lawsuit may be filed. Accordingly, OpenSea, the largest NFT marketplace, received a Wells notice from the SEC threatening to sue because they believed NFTs on OpenSea were securities. OpenSea CEO said in a statement: “OpenSea received a Wells notice from the SEC threatening to sue us because they believe NFTs on our platform are securities. We are surprised that the SEC would take such a sweeping action against creators and artists. But we are ready to stand up and fight. ….. In addition…
The notorious Mt. Gox exchange, which used to be the biggest Bitcoin exchange that shut down in 2014, is in the spotlight once again. A Mt. Gox-labeled address recently moved 33,141 Bitcoin, which is roughly equivalent to $2 billion. A total of 33,023 Bitcoin were transferred to a new address and an additional 117 Bitcoin, or roughly $7 million, was sent to cryptocurrency exchange OKX. Even though a move of this magnitude has the potential to cause market thrill, panic is not necessary. It is critical to realize that the market has already priced in this transfer, which was anticipated.…
Pudgy Penguins, the viral Ethereum Non-Fungible Token collection, has defied the gloom in the industry in August. Data by CryptoSlam and Dune Analytics shows that its key metrics performed well even as the sector came under intense pressure. Total sales jumped by 29% in August to over $8.6 million as the number of transactions jumped by 73% to 348. Additionally, the number of buyers and sellers rose by 73% and 39% to 176 and 205, respectively. The average number of days held also rose slightly by 5% to 85.5. While Pudgy Penguins sales rose in August, they remain sharply lower…