Crypto FUD Heightens.
400k Holders Less - The number of addresses with USDT on Ethereum dropped from 4.01M to 3.57M this week.
The reason behind this move remains unclear, though it could be linked to Wall Street's increased short-selling activity against USDT which was reported by Bloomberg.
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400k Holders Less - The number of addresses with USDT on Ethereum dropped from 4.01M to 3.57M this week.
The reason behind this move remains unclear, though it could be linked to Wall Street's increased short-selling activity against USDT which was reported by Bloomberg.
📍 Follow @Coins for the hottest news in crypto.
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Raydium Protocol hacked.
An exploit on Raydium is being investigated that affected liquidity pools. Initial understanding is owner authority was overtaken by attacker, but authority has been halted on AMM & farm programs for now.
https://solana.fm/address/AgJddDJLt17nHyXDCpyGELxwsZZQPqfUsuwzoiqVGJwD/transfers?cluster=mainnet-qn1
📍 Follow @Coins for the hottest news in crypto.
An exploit on Raydium is being investigated that affected liquidity pools. Initial understanding is owner authority was overtaken by attacker, but authority has been halted on AMM & farm programs for now.
https://solana.fm/address/AgJddDJLt17nHyXDCpyGELxwsZZQPqfUsuwzoiqVGJwD/transfers?cluster=mainnet-qn1
📍 Follow @Coins for the hottest news in crypto.
solana.fm
SolanaFM - Solana Explorer
SolanaFM is the friendliest block explorer which provides analytics and indexing services for Solana.
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Blur, NFT marketplace backed by Paradigm, has almost 8% of volume washed, while market leader OpenSea sees only 2.4%.
On these platforms, which do not offer obvious token rewards, the motivation of wash traders is likely to be gaming the algorithms to make certain collections appear higher in rankings.
So, to sum things up, wash trading on Ethereum is massive, particularly on platforms which offer token rewards for trading.
The “huge” volume of certain marketplaces is a complete mirage.
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On these platforms, which do not offer obvious token rewards, the motivation of wash traders is likely to be gaming the algorithms to make certain collections appear higher in rankings.
So, to sum things up, wash trading on Ethereum is massive, particularly on platforms which offer token rewards for trading.
The “huge” volume of certain marketplaces is a complete mirage.
📍 Follow @Coins for the hottest news in crypto.
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CryptoPunks have seen an incredible total sales volume of over $2.4 Billion.
The highest ever sale was a crazy 8000 $ETH - over $23.7m - but these days the floor price is down to “only” 63.7 $ETH
📍 Follow @Coins for the hottest news in crypto.
The highest ever sale was a crazy 8000 $ETH - over $23.7m - but these days the floor price is down to “only” 63.7 $ETH
📍 Follow @Coins for the hottest news in crypto.
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Trump NFT stats:
Starting yesterday, thousands were minted in the first few hours with users paying $99 per mint.
The entire collection of 45k has now sold out, with almost 13k wallets minting an average of 3.5 each.
Trump cards have been traded over 10 thousand times, with total volume topping $1.58m.
Over 18% of the entire collection have already been traded for an average of $151.5.
Some are going for a lot more though, with a top sale of over $7.6k!
📍 Follow @Coins for the hottest news in crypto.
Starting yesterday, thousands were minted in the first few hours with users paying $99 per mint.
The entire collection of 45k has now sold out, with almost 13k wallets minting an average of 3.5 each.
Trump cards have been traded over 10 thousand times, with total volume topping $1.58m.
Over 18% of the entire collection have already been traded for an average of $151.5.
Some are going for a lot more though, with a top sale of over $7.6k!
📍 Follow @Coins for the hottest news in crypto.
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Binance Futures had a volume of ~$15 trillion dollars. At an average Taker fee of 0.02%, that would be $3 Billion in annual revenue just from trading.
Show a firm that makes this kind of money in our space.
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Show a firm that makes this kind of money in our space.
📍 Follow @Coins for the hottest news in crypto.
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Nigeria set to legalize Bitcoin usage
Nigeria is looking to enact a law recognizing the use of Bitcoin and other digital currencies to stay current with “global practices.”
Despite banning BTC in 2021, this year saw a considerable increase in the volume of BTC traded nationally.
https://www.cryptopolitan.com/nigeria-set-to-legalize-bitcoin-usage
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Nigeria is looking to enact a law recognizing the use of Bitcoin and other digital currencies to stay current with “global practices.”
Despite banning BTC in 2021, this year saw a considerable increase in the volume of BTC traded nationally.
https://www.cryptopolitan.com/nigeria-set-to-legalize-bitcoin-usage
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Cryptopolitan
Nigeria set to legalize Bitcoin usage – Cryptopolitan
While Bitcoin (BTC) has dropped to its lowest level in the last two years, many organizations throughout the world have always considered it as a tool against inflation. Africa has, nevertheless, been a continent that has been dominant in the use and adoption…
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More bleeding expected!!
Mt. Gox, Bitfinex auction and ongoing miner selling there is ~$11B of BTC supply expected in 2023 at current levels. Approx 2B each for Gox, Bitfinex and Grayscale, and 5.3B for miner issuance.
Stay safe.
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Mt. Gox, Bitfinex auction and ongoing miner selling there is ~$11B of BTC supply expected in 2023 at current levels. Approx 2B each for Gox, Bitfinex and Grayscale, and 5.3B for miner issuance.
Stay safe.
📍 Follow @Coins for the hottest news in crypto.
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Binance net flows remain reasonable amidst withdrawal surge.
On December 11th, Binance froze withdrawals on some accounts that were profiting from irregular price movements on the exchange, which was then determined to just be market behavior. The intervention raised eyebrows at the power CEXs have over client funds.
The exchange then got hit with a surge in USDC withdrawals, which it had trouble processing due to the need for liquidity by swapping PAX or BUSD for more USD Coin during non-banking hours.
While there was over $6b in outflows from Binance addresses on the Ethereum network alone on December 13th, there was also $6b of inflow activity, leaving the net flow at only -$245m. Both inflows & outflows were higher than normal throughout the week.
This does not even mark the lowest net flow for the month, as withdrawals exceeded deposits by over $1 billion on November 24th.
The lowest net flow of the week was on December 12th at -$829 million.
📍 Follow @Coins for the hottest news in crypto.
On December 11th, Binance froze withdrawals on some accounts that were profiting from irregular price movements on the exchange, which was then determined to just be market behavior. The intervention raised eyebrows at the power CEXs have over client funds.
The exchange then got hit with a surge in USDC withdrawals, which it had trouble processing due to the need for liquidity by swapping PAX or BUSD for more USD Coin during non-banking hours.
While there was over $6b in outflows from Binance addresses on the Ethereum network alone on December 13th, there was also $6b of inflow activity, leaving the net flow at only -$245m. Both inflows & outflows were higher than normal throughout the week.
This does not even mark the lowest net flow for the month, as withdrawals exceeded deposits by over $1 billion on November 24th.
The lowest net flow of the week was on December 12th at -$829 million.
📍 Follow @Coins for the hottest news in crypto.
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Japan increased their bands from 0.25% to 0.46%. In simple words, that means Japan tightened their rates like like FED has been doing for months . This led to DXY fall. And that led to a little appreciation in risky assets like crypto.
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📍 Follow @Coins for the hottest news in crypto.
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Binance partners with Kazakhstan State Organisations to launch a country-wide Blockchain Education Program!
Kazakhstan will be one of the first countries in the world to embed the basic blockchain curriculum in the Universities’ programs across the whole country.
https://www.binance.com/en/blog/ecosystem/binance-partners-with-kazakhstan-state-organizations-to-launch-countrywide-blockchain-education-program-1040524614884170060
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Kazakhstan will be one of the first countries in the world to embed the basic blockchain curriculum in the Universities’ programs across the whole country.
https://www.binance.com/en/blog/ecosystem/binance-partners-with-kazakhstan-state-organizations-to-launch-countrywide-blockchain-education-program-1040524614884170060
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Binance Blog
Binance Partners with Kazakhstan State Organizations to Launch Country-wide Blockchain Education Program | Binance Blog
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a16z still holds 95% of everything it’s bought across its multi-billion dollar crypto funds, said a16z general partner Chris Dixon.
https://www.theblock.co/post/196252/a16z-crypto-funds-still-have-billions-to-deploy-says-co-founder-chris-dixon
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https://www.theblock.co/post/196252/a16z-crypto-funds-still-have-billions-to-deploy-says-co-founder-chris-dixon
📍 Follow @Coins for the hottest news in crypto.
The Block
a16z crypto funds still have billions to deploy, says co-founder Chris Dixon
"We've held over 95% of everything we've ever bought," said a16z's Chris Dixon, who talks crypto token investing strategies and avoiding FTX.
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Current situation:
1. Bonds down like the Fed pivot never happened
2. $SPX down 7% in 4 days like a recession hit
3. $VIX down more than $SPX like nothing is happening
4. Oil prices up like the recession is gone
5. Gold below $1800 like inflation is 2%
This is not healthy.
Source: Kobeissi newsletter.
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1. Bonds down like the Fed pivot never happened
2. $SPX down 7% in 4 days like a recession hit
3. $VIX down more than $SPX like nothing is happening
4. Oil prices up like the recession is gone
5. Gold below $1800 like inflation is 2%
This is not healthy.
Source: Kobeissi newsletter.
📍 Follow @Coins for the hottest news in crypto.
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https://www.okx.com/support/hc/en-us/articles/11602083672205-OKX-will-list-BNB-BNB-for-spot-trading
📍 Follow @Coins for the hottest news in crypto.
📍 Follow @Coins for the hottest news in crypto.
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