Nearly $60M in Bitcoin Moved to Ethereum in June
Nearly $60 million worth of bitcoins moved to Ethereum during June, according to data estimates from Dune Analytics. Wrapped Bitcoin, the oldest tokenized bitcoin protocol on Ethereum, is responsible for roughly 75% of that growth after moving more than 4,800 BTC to Ethereum last month. Demand has increased for using bitcoin in a variety of decentralized financial services as Ethereum […]
Ethereum Activity Metric Hits Highest Level for 2 Years
Levels of activity on Ethereum have peaked to their highest in two years, going by one metric. The seven-day moving average of the number of active ether addresses rose to 405,014 on Friday – a threshold not seen since May 2018, according to data provided by the blockchain analytics firm Glassnode. Active addresses are the number of unique […]
First Mover: The Return of the Bitcoin Retail Investor (and Why That’s a Good Thing)
Since the end of 2017, the conventional thinking was that well-heeled financial institutions would take the reins from retail investors, becoming the driving force and primary investor class in crypto. But a report out last week from derivatives exchange ZUBR argues retail investors are not just here to stay, they could end up absorbing more than half […]
Miners Are Sending Bitcoins to Exchanges Again – And That May Be Bearish
Bitcoin outflows from miner wallets have spiked, with the majority of coins finding their way onto cryptocurrency exchanges. The net flow of coins into or out of miner addresses fell to -2,935 BTC on Tuesday to hit the lowest level since June 2019, according to data source Glassnode. To put it another way, miner wallets witnessed the […]
In Banking First, ING Develops FATF-Friendly Protocol for Tracking Crypto Transfers
The solution initiated by ING – currently dubbed the Travel Rule Protocol or TRP – has also been backed by Standard Chartered Bank, Fidelity Digital Assets and BitGo, plus a gaggle of other familiar firms from the crypto space. The FATF’s recommendation in October 2018 to include virtual asset service providers (VASPs) within the scope […]
The Last Time Volatility Was This Low Bitcoin Went On to Rally by $2K
While the cryptocurrency has leapt over 4% in the past 24 hours, prices still remain trapped between $9,000 and $10,000. In fact, the top cryptocurrency by market value has spent the better part of the last two months trading in that narrow range, according to CoinDesk’s Bitcoin Price Index. Due to the persistent lack of clear […]
Singapore-based crypto fund takes a big bite of Grayscale Bitcoin Trust
ABitcoin fund based in Singapore is mass-buying Bitcoin from one of Wall Street’s go-to brokers for cryptocurrency exposure. Three Arrows Capital, a cryptocurrency investment firm, has purchased roughly 6% of the outstanding shares in Grayscale’s Bitcoin Investment Trust, according to documents filed with the US Securities and Exchange Commission. Grayscale’s Bitcoin trusts have long provided institution-grade exposure to Bitcoin for the […]
Fidelity Says a Third of Big Institutions Own Crypto Assets
About a third of large institutional investors own digital assets such as Bitcoin, according to a survey from Fidelity Investments. Across the U.S. and Europe, 36% of the survey’s 774 respondents said they own cryptocurrencies or derivatives. In the U.S., 27% of institutions — including pension funds, family offices, investment advisers and digital and traditional […]
CoinMarketCap Metric Overhaul Keeps Owner Binance at the Top
CoinMarketCap came under fire last month after its new web traffic-based ranking system gave Binance – which acquired the aggregator for a rumored $400 million in April – a perfect score. “Six weeks in and Binance’s acquisition of CoinMarketCap [is] already being abused to manipulate the rankings,” tweeted an irate Mati Greenspan at the time. Well, the price site […]
Bittrex, Poloniex Added to Lawsuit Claiming Tether Manipulated Bitcoin Market
On Wednesday, cryptocurrency exchanges Bittrex and Poloniex became the latest defendants accused of fraudulently toying with crypto asset prices in an ongoing class action whose plaintiffs have been pursuing Tether and Bitfinex on allegations of fraud, deception and market-manipulation since October 2019. The 156-page amended suit filed Wednesday continues to allege that Tether and Bitfinex orchestrated a grand scheme to […]