Day: October 25, 2023

Are Bitcoin Derivatives Behind The Latest Rally? Glassnode Answers

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Since the latest Bitcoin rally started, there has been speculation going on as to whether derivatives fuel the surge. Here’s what Glassnode says. Bitcoin Funding Rates Have Remained Cool Recently In its latest weekly report, the on-chain analytics firm Glassnode has talked about what the derivatives side of the market has looked like while the latest rally in the asset has occurred. First, the report has looked into the open interest of the perpetual swap markets, where “open interest” refers to the total amount of Bitcoin contracts currently open. The…

Scammer steals $743k in fake Linea token rug pull

A new rug pull scam sees users lose several thousands of dollars to a fake Linea token project.  Blockchain security analyst Certik identified a latest rug pull scam, as a fake Linea token project that scammed users out of nearly $743,000. Victims have stated that the scam was potentially conducted by a Russian user named ‘AltLex,’ who was promoting the token on social media.  #CertiKSkynetAlert 🚨 We have seen an exit scam on a fake Linea token Eth: 0x00000000fEB6A772307C6aA88AB9D57b209aCb18 ~$743k has been deposited into Tornado Cash Victims report that the…

Neon Machine raises $20M Series A for blockchain-based Call of Duty competitor ‘Shrapnel’

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Web3 gaming developer Neon Machine raised $20 million in series A funding toward the development of its highly-anticipated extraction shooter “Shrapnel.”  This round follows a $10.5 million seed round completed in June of 2021. It was led by Polychain Capital and included funding from Griffin Gaming Partners, Brevan Howard Digital, Franklin Templeton, IOSG Ventures, and Tess Ventures. Shrapnel is an ambitious gaming project touted by Neon Machine as a “AAA game” — a non-standard designation used to indicate a video game with top-tier production value, budgeting, and marketing. According to…

Bitcoin price chases after $35K as BTC derivatives data signals fresh inflow

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Bitcoin’s (BTC) price action is the talk of the town this week, and based on the current sentiment expressed by market participants on social media, one could almost assume that the long-awaited bull market has started. As Bitcoin’s price rallied by 16.1% between Oct. 22 and Oct. 24, bearish traders using futures contracts found themselves liquidated to the tune of $230 million. One data point that stands out is the change in Bitcoin’s open interest, a metric reflecting the total number of futures contracts in play. The evidence suggests that…

FTX and Alameda linked wallets transfer $10M of crypto to exchanges in just 5 hours

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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…

Massive Ethereum Whale Transfer Threatens To End ETH Rally, Here’s Why

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In a recent development, Ethereum’s latest resurgence (up over 12% in the last seven days) could be threatened by the actions of an Ethereum whale who could potentially end the token’s rally and further cause it to decline.  Ethereum Whale Moves 30,710 ETH In a post shared on the X (formerly Twitter) platform, a crypto-related account with the username ‘EmberCN’ noted that a particular Ethereum whale who had withdrawn a total of 42,311 ETH from the crypto exchange Binance since September 20 had just transferred 30,710 ETH (out of the…

Sam Bankman-Fried’s Desperate Last Stand

One, SBF has long had confidence in his persuasive capabilities. Following FTX’s collapse last November, SBF back-channeled with numerous reporters to tell his side of story, often downplaying his knowledge of what was happening and – in a preview of his current defense – making out that he was more out-of-his-depth than malevolent and calculating. He even started his own Substack, going against the advice of numerous lawyers who cautioned against self-incrimination. And two: He has nothing to lose at this point. SBF is very likely to be convicted on…

CNBC’s Joe Kernen warns investors to ‘prepare for the halving’ amid Bitcoin ETF hype

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CNBC anchor Joe Kernen’s tweet about the upcoming Bitcoin halving has ignited discussions in the cryptocurrency community, warranting a thorough and unbiased analysis of its potential market impact and the recent price surge linked to BlackRock Bitcoin ETF rumors. CNBC anchor Joe Kernen recently sparked attention in the crypto community with his enthusiastic tweet, circulated by Bitcoin Magazine, proclaiming, “prepare for the halving. The halving is coming.” Kernen was referring to the anticipated Bitcoin halving event, a technical occurrence that slashes mining rewards for new Bitcoins in half, which theoretically…