Day: November 3, 2023

ETH Sent To Exchanges Climbs Above 500,000, Is Ethereum At $2,000 Still Possible?

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A massive amount of ETH has made its way to centralized exchanges, increasing the Ethereum balances of these exchanges. Given the implications of exchange inflows, it could be a barrier to the cryptocurrency when it comes to claiming the $2,000 resistance. Investors Send 13,000 ETH To Exchanges Data from IntoTheBlock shows a massive amount of ETH headed toward exchanges as the price rose. The total inflow volume as of October 31 when the price first cleared the $1,800 resistance was at 480,570. However, by the start of November, this number…

Solana’s Rally Continues As SOL Overtakes Polygon (MATIC) in Daily Decentralized Exchange Volume

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Ethereum (ETH) competitor Solana (SOL) is sustaining its upward momentum as it overtakes layer-2 scaling solution Polygon (MATIC) in daily decentralized exchange (DEX) volume. New data from blockchain tracking platform Artemis reveals that the smart contract platform has surpassed MATIC in both overall DEX volume and the number of daily transactions. Artemis’ data shows that as of yesterday, Solana had a DEX volume of about $240.5 million, outpacing Polygon’s $137.5 million. The numbers also show that Solana greatly surpassed Polygon – and other digital assets such as ETH and Avalanche…

US Authorities Confiscate $54 Million In Ethereum From Convicted Drug Dealer

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In recent developments, US authorities led by US Attorney Philip R. Sellinger successfully seized $54 million worth of Ethereum (ETH) from Christopher Castelluzzo, a convicted drug dealer operating in Lake Hopatcong, New Jersey.  Massive Crypto Bust The US Attorney’s Office filed a civil forfeiture action to recover previously seized cryptocurrency that was determined to be the proceeds of an illegal narcotics distribution scheme operating in and around New Jersey.  US Attorney Philip R. Sellinger emphasized law enforcement’s “commitment” to seizing financial gains from criminal activity, regardless of the form they…

OpenSea lays off 50% of staff with severance in preparation for version 2.0 launch

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Nonfungible token (NFT) marketplace OpenSea announced on Nov. 3 that it was laying off employees. Co-founder and CEO Devin Finzer broke the news on X (formerly Twitter), saying the company was launching OpenSea 2.0 with a smaller team. OpenSea launched in 2017, when NFTs were an innovation. It operates on a model comparable to eBay and Etsy and accepts payment in Ether (ETH). It laid off 20% of its employees in July 2022, citing the crypto winter, after which it had a staff of 230, according to press reports at…

ADA Market Cap Jumps Over 10% Amid On-Chain Frenzy

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Cardano (ADA) has recently experienced a notable surge in market capitalization. Blockchain analytics firm Santiment reported a 9% increase in ADA’s market cap over the past day, which adds to a more than 20% rise over the last two weeks. This growth spurt in valuation aligns with heightened activity on the Cardano network, specifically among large-scale holders, commonly referred to as ‘whales.’ Cardano On-Chain Data Signals Bullish Behavior For ADA Before this latest rise in value, several on-chain metrics hinted at the potential for a short-term increase in ADA’s price.…

Will Cardano Replicate Solana’s Surge? Analyst Reveals Similarities For 80% Rise

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Cardano (ADA) has returned to the radar of crypto investors after an interesting run brought its price up above $0.3. This price level has been elusive for a while but eventually, the bulls have gotten a hold of it. As the market faces an impending downturn, Cardano’s run-up could be threatened. However, one crypto analyst believes that ADA could have gone the way of Solana over the past few days. Cardano Doing A Solana Run In a TradingView post, crypto analyst Alan Santana revealed their expectations for the Cardano price.…