Day: November 7, 2023

Miners sold more Bitcoin than minted in October 

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Leading Bitcoin miners sold 5,492 BTC during October’s market rally, exceeding their monthly production. A notable surge in the sale of newly mined tokens was observed from public Bitcoin miners last month. According to reports, 13 leading mining entities disposed of an amount exceeding the BTC tokens they minted in October, even as the token experienced a 26% monthly surge.  Insights from TheMinerMag show that the sell-production ratio for players like Marathon Digital Holdings and Core Scientific Inc. crossed the 100% threshold. This indicates that they sold not only the…

Shiba Inu Sees Surge In Whale Activity, Will This Affect SHIB?

Recent data has revealed that Shiba Inu has experienced a significant surge in whale transactions following a recent whale transaction of a whopping 4.43 trillion SHIB tokens. This has since caused quite a stir in the cryptocurrency space. Shiba Inu Experiences Surge In Whale Activity According to data, Shiba Inu has been exhibiting astounding whale transactions over the past 24 hours amid the latest actions taken by the SHIB community to increase token support.  Currently, the total inflows of SHIB tokens held by major holders are at an impressive 7.84…

US CFPB proposes supervising digital app providers, including crypto wallets

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The United States Consumer Financial Protection Bureau (CFPB) has proposed a rule to allow it to supervise large non-bank digital wallet and app providers. The rule is part of a larger move by the agency that has seen it extend its supervision to consumer reporting, consumer debt collection, student loan servicing, international money transfers and automobile financing. The rule would extend the supervisory role it already has in depository institutions such as banks and credit unions. The rule would apply to companies that handle more than 5 million transactions per…

Bitcoin supply held by long-term holders hits all-time high — Research

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Data from Glassnode suggests that Bitcoin (BTC) is in an accumulation pattern, with its available supply reaching a new historical low. According to the report, Bitcoin’s illiquid supply and long-term holders are increasing. As its supply tightens, available BTC is being purchased by smaller, long-term holding entities.  Bitcoin accumulation among a majority of investor cohorts and the bullish conviction of long-term holders have resulted in investors gobbling up “92% of the newly mined supply,” according to the Glassnode analysis. “If we isolate only entities on the smaller end of the scale,…

Ripple CEO Teases Major Announcements At Swell Event

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Ripple CEO Brad Garlinghouse has expressed his anticipation for the upcoming DC Fintech week, dropping major hints and teasers about significant announcements and heated discussions slated for the event.  Ripple Swell Event Sparks Community Interest Chief Executive Officer of Ripple, Brad Garlinghouse has teased the X (formerly Twitter) community with hints of discussions and ideas about the upcoming Ripple Swell 2023 event scheduled for November 8th and 9th in Dubai.  Garlinghouse stated that he was always excited about the DC Fintech Week which occurred every year. He emphasized the importance…

YouTube is testing experimental AI that chats with you about what you’re watching

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Google’s testing a pair of experimental artificial intelligence (AI) systems for creators and viewers on its YouTube video sharing platform.  The first experiment, according to a post on YouTube Help, involves an “AI that organizes large comment sections of long-form videos into easily digestible themes.” This tool will allow content creators to organize their comment sections by topic, highlight specific comments, and even delete comments related to a given topic. This experiment is currently active and “running on a small number of videos in English that have large comment sections.”…

Bankrupt Crypto Exchange FTX Files Motion To Sell $744,000,000 Worth of Assets

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Bankrupt crypto exchange FTX is asking a judge for permission to sell off $744 million worth of assets. A new bankruptcy court filing shows that FTX and its debtors want permission to sell the company’s Grayscale and Bitwise assets through an investment adviser. According to the filing, “Similar to the debtors’ prior request to monetize digital assets, the debtors are requesting court authorization to monetize the trust assets to protect the debtors against potential downward price swings in the trust assets, maximize the value of the debtors’ estates, and allow…

Chainlink Has Massive Resistance Ahead, Will The Rally End Soon?

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On-chain data shows there is major resistance ahead for Chainlink, a sign that could be troubling for the rally’s sustainability. Only 55% Of Chainlink Investors Are In Profit So Far As explained by an analyst in a post on X, Chainlink is still behind Bitcoin in terms of investor profitability despite the LINK price outperforming BTC in the year so far. The below chart shows what the LINK address concentration looks like on the different price ranges that the asset has previously visited: The different on-chain resistance and support levels…