Ether’s global estimated leverage ratio, calculated by dividing the dollar value locked in the active open perpetual futures contracts by the total number of coins held by derivatives exchanges, has declined from a multi-month high of 0.28 to 0.22. Bitcoin’s ratio has slid from 0.27 to 0.21, the lowest since May, according to data tracked by South Korea-based analytics firm CryptoQuant. Source
Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The US Court of Appeals has, once more, deferred its decision on Grayscale’s ability to convert its widely used Bitcoin Trust into a traditional spot Bitcoin ETF. Grayscale’s chief legal officer, Craig Salm, disclosed this announcement on X on Aug. 22. According to Salm’s message, the DC Circuit involving Grayscale has not materialized, and there are still no decisions across the board, including those unrelated to Grayscale, leaving the status of the bitcoin (BTC) spot ETF…
Bitcoin posted a sizable advance on Wednesday, rising nearly 5% at one point to just shy of $26,800 alongside a rally in traditional markets as interest rates retreated. Institutional cryptocurrency exchange LMAX Digital noted that trading volume has been trending up over the week but saw a significant increase on Wednesday. “Bitcoin volumes printed $173 million, 59% above 30-day average volume and ether volumes printed $92 million, 70% above 30-day average volume,” the exchange said in a morning note. The uptick for bitcoin’s price and trading volumes stems from traditional…
The NFT sales have been constantly dropping since early 2022. The floor prices of some of the top NFT collections plunged further over the past week. According to data provided by CoinGecko, over the past week, the floor prices of Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC) declined by 21% and 27%, respectively. Per the price aggregator, the starting cost of a BAYC collectible sits at 24.5 Ethereum (ETH), worth around $41,060 at the time of writing. NFT Floor Price Δ % Over the Past Week…
Mike Novogratz’s digital asset management firm Galaxy Digital looks set to manage the remaining cryptocurrency holdings of bankrupt cryptocurrency exchange FTX. On Aug. 24, the company filed a motion with the United States District Court for the District of Delaware seeking authorization and approval of guidelines for the sale of digital assets recovered during ongoing bankruptcy proceedings. The filing outlines FTX’s requests and plans to transfer some $7 billion worth of recovered cryptocurrency tokens under Galaxy Digital’s management following the exchange’s collapse in 2022. Related: FTX releases restructuring plan, hints at rebooted offshore exchange FTX…
Investing in cryptocurrencies like Dogecoin can be tricky, as the nascent market is known to be the most volatile in terms of price movement. One day, an investor triples his investment, and the next day, all of it is gone. So knowing when to sell and exit a position can sometimes be challenging. This is the recent case of a once-DOGE millionaire who has seen the worth of his holdings fall from almost $3 million to $50,000. However, despite the ups and downs, this long-time HODLer believes Dogecoin has staying…
According to the order, Bankman-Fried’s lawyers “can take unlimited advantage of the legal visitation hours” at the Metropolitan Detention Center (MDC) in Brooklyn, New York to prepare their client for a weeks-long trial slated to begin October 3. Bankman-Fried will have “frequent access” to a computer at MDC to review discovery materials, and can request “selected materials” be loaded onto hard drives for his viewing, the judge said in the order. Source
As of European afternoon hours, the Polygon-based Trump Digital Trading Cards were selling for over 0.13 ether (ETH), or just over $215, up from 0.1 ETH, or $150, last week. Source
The “Don’t Extradite Assange Campaign,” dedicated to gathering support against the extradition of Wikileaks founder Julian Assange to the United States, is launching a virtual political rally in the metaverse. Assange has been confined within Belmarsh Prison in London since April 2019, fighting a court battle against his extradition to the U.S., where he could potentially face up to 175 years in prison on charges of espionage for leaking information about the wrongdoings of the US agencies in Iraq and Afghanistan. Assange founded WikiLeaks, which have been known to publish…
The intricate dance between Bitcoin, crypto and real yields is becoming increasingly pronounced. As the world of traditional finance grapples with the implications of shifting real yields, the BTC and crypto market is not immune to these fluctuations. For the uninitiated, the ‘real yield’ refers to the yield on US treasuries, adjusted for inflation. This metric is pivotal in understanding the broader financial ecosystem, and its movements can have profound implications for risk assets, including Bitcoin and other cryptocurrencies. Higher Real Yields = Bitcoin And Crypto Down Renowned analyst @tedtalksmacro…