NFT News Daily Today TheBitTimes.com

According to Spot On Chain data, the firms sent $10 million worth of crypto to a single wallet address, which then deposited the funds to Binance and Coinbase. Wallets linked to bankrupt crypto firms Alameda Research and FTX transferred over $10 million worth of cryptocurrency to exchange deposit accounts in five hours on October 24-25, according to data from blockchain analytics platform Spot On Chain. The movement of these funds may indicate that the firms plan to sell some assets to pay back creditors. #FTX and #Alameda related addresses are depositing tokens to exchanges ! Via address 0xde9, #FTX 0x97f and #Alameda 0xf02 have transferred 2,904 $ETH ($5.21M) 1,341 $MKR ($2.01M) 11,975 $AAVE ($1.02M) 198,807 $LINK ($2.27M) to #Binance and #Coinbase in the past 5 hours .… pic.twitter.com/MQxCySp8g0 — Spot On Chain (@spotonchain) October 25, 2023 According to Spot on Chain data, an address listed as “likely” belonging to FTX transferred 2,904 Ether (ETH), worth over $5 million at t...

Ethereum project co-founder Vitalik Buterin stated that he has not sold his network coins since 2018. This is how Vitalik Buterin commented on the information about the movement of assets in his wallet. “If you see an article saying “Vitalik sends XXX ETH to [exchange]”, it’s not actually me selling , it’s almost always me donating to some charity or nonprofit or other project, and the recipient selling because, well, they have to cover expenses.” Vitalik Buterin, Ethereum co-founder Vitalik Buterin made this statement amid reports that almost $15m in stablecoin USD Coin (USDC) was transferred from his wallet to the Gemini crypto exchange. You might also like: Vitalik Buterin reportedly transferred 15m USDC to Gemini According to Spot On Chain analysts, in September this year, within ten days, Vitalik Buterin transferred a total of 2,421 ETH to exchanges, or approximately $3.8m. As a large holder, Vitalik Buterin can strongly influence the toke...

The Hong Kong-listed company seems to be no longer interested in crypto as AI-related products generated more returns. Meitu, a Chinese software developing company, is reportedly ready to sell its cryptocurrency holdings “at the appropriate time,” roughly two years after the firm started holding Bitcoin (BTC) and Ethereum (ETH) on its balance sheet. A senior investor relations manager at Meitu told the Headline Daily newspaper in a commentary that the firm’s recent profits were mainly attributed to the subscription model of its mobile applications as well as AI-based products. As for the cryptocurrency investment, Meitu is no longer focused on cryptocurrencies and “may sell them at the appropriate time,” according to a rough translation. You might also like: China sentences former party official to life in prison for enabling crypto mining Meitu first entered the crypto market a few years ago, when the firm purchased BTC and ETH worth aroun...

Concerns regarding a possible US government shutdown catalyzed purchases of cryptocurrency investment products between Sept. 23 and 29.  According to CoinShares, the inflow to digital asset investment products reached $21 million last week. Experts indicated that the main activity occurred at the end of the week before the end of the financial year. At that time, there was still no certainty regarding the distribution of budget funds to continue the work of the departments. “The recent regional divergence persists, with the US seeing outflows totaling US$19m last week, while Europe and Canada saw inflows of US$23m and US$17m, respectively.” CoinShares report Bitcoin (BTC) funds recorded an inflow of $20.4 million after an outflow of $6 million in the previous reporting period. From structures that allow opening shorts on the first cryptocurrency, investors withdrew $1.5 million (a week earlier, $2.8 million). Source: CoinShares Altcoin-based products showed m...

Pond0x reported that its DEX reached $100 million in cumulative volume, citing a Dune dashboard as evidence. The Pond0X decentralized exchange (DEX) has reached more than $100 million in total trading volume, according to a September 28 social media post from its official channel. Investors previously lost over $2 million in the launch of the exchange’s native token, PNDX, when the coin turned out to have a transfer function that allowed anyone to transfer it without the owner's permission. But supporters claim these losses were not the fault of the developer. $108,000,000 Trade Volume And counting. What comes next…? pic.twitter.com/lpetFqJAkq — Pond Coin (@Pond0x) September 28, 2023 As evidence for Pond0X DEX’s trading volume , the official channel cited a Dune dashboard created by user mogie, which shows over $111 million in all-time trading volume as of September 29. Total volume metric for Pond0X. Source: @mogie Dune channel The PNDX token launched on July 28. At the tim...

The decentralized social media app friend.tech has been making it to the headlines yet again after recently being pronounced dead by community members. Earlier this week, the value locked on the protocol surpassed $20 million. However, at press time, the number was hovering around its newly created peak of $32.64 million. Source: DeFilLlama Also Read: NFTs: Stoner Cats Price Up 267% Despite SEC Cha rges Will friend.tech Be Able to Compete With X? As analyzed in a recent article, the trading volume on Fried.tech was seen picking up pace. In fact, the NFT trade volume on the Ethereum blockchain was $3 million less when compared to the friend.tech volume. The Director of Research at PROOF Collective recently pointed out that the decentralized social media platform has paid creators $1,100,000 in a span of merely 36 hours. This figure was substantially higher than the amount handed out by Ethereum NFT platforms to their creators [140,000]. On the thread, the e X ecutive went on to a...

Horizen, a platform focusing on scalability and interoperability, has partnered with Tatum to ease dapp development on EON. Horizen joins hands with Tatum Horizen’s partnership with Tatum, a platform that simplifies blockchain development, enhances EON by simplifying application development. The deal focuses on JavaScript capabilities, RPC nodes, and blockchain data retrieval via API, making it easier for developers to integrate blockchain features into their applications using Tatum’s tools. The partners hip aims to simplify the development of blockchain technology by reducing technical complexities. Tatum’s expertise in streamlining blockchain operations can benefit the EON chain. Tatum provides developers with various features, including the option to activate its JavaScript SDK. This tool streamlines app development by offering user-friendly tools and frameworks for incorporating blockchain functionality.  You might also like: Horizen par...

Bitcoin and select altcoins are starting to recover, but selling at the top of each price breakout suggests that bears remain in control. After the sharp fall on Aug. 17, Bitcoin (BTC) remained stuck inside a tight range over the weekend. This suggests indecision between the bulls and the bears about the next directional move.  After the latest fall, about 88% of Bitcoin held by Short-term Holders (STHs), owning Bitcoin for 155 days or less, has plunged into loss, according to Glassnode’s weekly newsletter, “The Week On-Chain.” Glassnode warns that the STH cohort is “increasingly price sensitive.” In comparison, the long-term holders have neither panicked nor gone on a shopping spree during the current fall. Daily cryptocurrency market performance. Source: Coin360 Traders are likely to keep a close watch on the United States Federal Reserve Chairman Jerome Powell’s speech at the annual Jackson Hole Economic Symposium on Aug. 25. If Powell does not spring a negative surprise, then the ...

The United States Securities and Exchange Commission isn't likely to block the debut of Ethereum futures ETFs, according to sources. The price of Ether (ETH) surged around 11% to $1,700 following news that the United States Securities and Exchange Commission is set to allow the first exchange-traded funds (ETFs) based on Ether Futures. According to an Aug. 17 report from Bloomberg — which cited anonymous sources familiar with the matter — the regulator does not look as though it will block the applications of nearly twelve companies, including ProShares, Volatility Shares, Bitwise and Roundhill, that have filed to launch Ether (ETH) futures ETFs in recent weeks. Breaking The SEC is expected to green light an ETH futures ETF The beginning of something potentially massive here… pic.twitter.com/x9KtOpCqei — Bankless (@BanklessHQ) August 17, 2023 It remains unclear which ETF applications would be approve d by the SEC; however, officials indicated that several of the filings may be...

Bitcoin’s failure to rebound off strong support may open further downside as bears may be tempted to sell. Bitcoin (BTC) has been trading near the $29,000 level for the past few days. This suggests a lack of strong demand at higher levels but the only solace for the bulls is that they have managed to sustain the price above the immediate support. The uncertainty about the next directional move may have tempted short-term traders to book profits. CoinShares said in its latest weekly report that Bitcoin investment products witnessed $111 million in outflows, the largest weekly outflows since March. Daily cryptocurrency market performance. Source: Coin360 While the short-term price action remains uninspiring, crypto bulls remain confident that Bitcoin will rally before its next halving in 2024. Blockstream CEO Adam Back said in a conversation on X (previously known as Twitter) that Bitcoin will hit $100,000 by the end of March. Could Bitcoin extend its decline in the near term or will i...

Paul Brody’s “Ethereum for Business” gives a basic overview of enterprise Ethereum, while providing real-world use cases of how EY clients leverage the technology. The cryptocurrency market has encountered its share of ups and downs over the past year, but blockchain technology continues to see impressive growth as businesses seek digital transformation.  Recent findings from the market research platform, MarketsandMarkets, estimated the global blockchain market size to be $7.4 billion in 2022. While notable, the report indicates that the blockchain sector is expected to generate $94 billion in revenue by the end of 2027. If these findings are accurate, this will result in a compound annual growth rate of 66% from 2022 to 2027. Breaking down ‘Ethereum for Business’ Specifically speaking, many enterprises today are using the Ethereum blockchain to improve outdated business processes. Paul Brody, global blockchain leader for Ernst & Young (EY), told Cointelegraph that he believe...

Roger Ver said that Ethereum, not Bitcoin, will lead the most new users to crypto. Early Bitcoin (BTC) investor and Bitcoin Cash (BCH) advocate Roger Ver claimed that Ethereum, not Bitcoin, will be responsible for driving the bulk of new users towards crypto .  On a May 31 episode of the Show Me The Crypto podcast, Ver — labeled “Bitcoin Jesus” for his early Bitcoin advocacy — said that despite Ethereum’s scaling issues and the other layer-one “clones” that have popped up in its wake, the Ethereum ecosystem is still where the action is: “Even though Ethereum doesn’t have the biggest market cap compared to Bitcoin, I think Ethereum is the front-runner in terms of driving worldwide adoption.” Ver praised the rise of Ethereum Virtual Machine-compatible (EVM) blockchains and layer-2 scaling solutions such as Polygon (MATIC) that can help share some of the load away from the main chain. Ver provides an account of the “civil war” that occurred in the early days of Bitcoin between Etheruem’...

Staking rewards following Ethereum’s Shanghai upgrade have made it easier for investigators to spot counterintuitive behavior by ETH holders. With its historic Merge event in September, Ethereum has become a proof-of-stake blockchain. The mechanism now used to confirm transactions relies on validators staking their Ether (ETH). Ethereum’s March upgrade, codenamed Shanghai, finally enabled stakers to withdraw their locked Ether.  The Ethereum ecosystem’s “investment themes” have included a) decentralized finance (DeFi) b) stablecoins c) Bitcoin (via wrapped versions of BTC) and d) non-fungible tokens (NFTs). With the upgrade , the network also began providing fixed-income assets. There are currently several ways people make money on or using Ethereum. Broadly, they can be grouped into “investment themes,” including: a) decentralized finance (DeFi); b) stablecoins; c) Bitcoin (BTC) (via wrapped versions of BTC); and d) nonfungible tokens (NFTs). Following Shanghai, the network began to ...

The wallet relies on “World ID,” a protocol that verifies humanness through zero-knowledge proofs. Worldcoin, a project to identify human s and distinguish them from artificial intelligence, has launched a gas-free crypto wallet for verified human s, according to a May 8 announcement.  The new wallet, called “World App,” works on Android and iOS operating systems. It currently runs on the Polygon (MATIC) network, allowing users to hold and transfer United States Dollar Coin (USDC), Dai (DAI), Ether (ETH), Worldcoin (WDC) and Wrapped Bitcoin (WBTC). World App uses the project ’s “World ID” system to discriminate between human s and bots. Users who want to take advantage of gas-free transfers must first register for a World ID by supplying a phone number or iris scan. Developers say the project doesn’t store users’ data. Instead, it generates a zero-knowledge proof to verify the user is human , but without revealing the data used to generate the proof. Even users who don’t have a W...

Ethereum Foundation's previous big sale of ETH preceded a bear market, but there's little evidence that such sales affect the general market trend. On May 6, Ethereum Foundation transferred nearly $30 million in Ether (ETH) to the Kraken cryptocurrency exchange, causing jitters in the market about a potential selloff event. ETH price fell 4.8% to $1,900 on the day, but the decline has been negligible so far amid a wider recovery trend. ETH price holding key support Ether's price recovered modestly to $1,920 on May 7 after testing its 50-day exponential moving average (50-day EMA; the red wave) near $1,850 as support a day ago. Moreover, the price volatility dropped on Kraken in the said period, per the contracting Bollinger Bands Width in the chart below. That further shows traders' calm amid the Ethereum Foundation transfer. Notably, the 50-day EMA has capped Ether's downside attempts so far in 2023, barring the early March selloff that saw the price briefly fal...

The high gas fee is making transactions costly for users, while also pushing up prices amid demand for meme coins such as PEPE. advertisement Ethereum Gas Fees Reaches Yearly High According to data by Etherscan, the average gas prices reached 94 gwei and even hit a high of 184 gwei on May 5. The massive jump in Ethereum gas fees is due to the increase in demand for meme coins on the Ethereum network, making transaction costs higher. The hype surrounding PEPE meme coin and profits made by investors by trading in the meme coin is causing most people to swap their crypto including other meme coins to PEPE through Uniswap. The average transaction cost on Uniswap has jumped to $32.60. As per data, transactions on Uniswap alone have burned over 15,000 ETH in the last 7 days. Uniswap currently accounts for 35% of gas fees, becoming the top “Gas Guzzler” in the last few days. Trending Stories Bitcoin Price Predicti...