“There are constant hourly net outflows of bitcoin and stablecoins after the CZ’s resignation announcement,” Hochan Chung, head of marketing at CryptoQuant, told CoinDesk. “However, compared to the total reserves of Binance, the current volume is not yet significant at all.” Source
Genesis and Gemini have been embroiled in a public and legal feud ever since the collapse of FTX. Genesis filed for bankruptcy in January. Its parent company, Digital Currency Group (DCG), was sued by Gemini in July over allegations that DCG then described as “defamatory” and a “publicity stunt.” In September, Genesis sued its parent company, DCG, seeking the repayment of multiple loans worth over $600 million. And then, in October, Gemini sued Genesis over 60 million shares of the Grayscale Bitcoin Trust (GBTC), valued at around $1.6 billion. Gemini’s…
Data shared by market analyst Chang shows that early Wednesday, market participants traded 550 contracts of BTC $45,000 strike call option expiring in March 2024 on Deribit. Buyers, expecting a continued price rally in bitcoin in the coming months, paid a cumulative premium of $1.5 million for the bullish bets. On Deribit, one options contract represents one BTC. Source
Analysts at Matrixport do not rule out there will be pressure to ‘right-size’ Binance. With Changpeng Zhao leaving Binance as its Chief Executive Officer (CEO), the crypto exchange will likely have from two to three years before competition in the market starts affecting the company’s position, according to a new report. Analysts at Matrixport, a Singapore based crypto management platform founded by Jihan Wu, wrote that there “will likely be pressure to ‘right-size’ the company.” As of July 2023, Binance had almost 8,000 employees and even planned to hire more,…
Just two days after Microsoft CEO Satya Nadella hired former OpenAI CEO Sam Altman to lead a new advanced AI research team, OpenAI backtracked on its decision to let go t On Nov. 22, OpenAI announced a new agreement that would see the return of Altman as the company CEO. The company confirmed this decision through an official tweet. We have reached an agreement in principle for Sam Altman to return to OpenAI as CEO with a new initial board of Bret Taylor (Chair), Larry Summers, and Adam D’Angelo. We are…
But OpenAI’s loss was someone else’s gain. Earlier this week, reports emerged that Altman, Greg Brockman, the company’s co-founder and president, and other former staff members would be joining software giant Microsoft, one of the key investors in the AI startup. Source
Bitcoin’s (BTC) market dominance has traditionally been viewed as a key indicator of its market strength. Currently, the metric is at a multi-year high above 51%. Bitcoin dominance. Source: Coinmarketcap.com However, a closer analysis suggests that the concept of “Bitcoin dominance” might not be as informative as it seems, especially when considering the broader dynamics of the cryptocurrency market. Dominance: A misleading BTC indicator? The term “Bitcoin dominance” refers to BTC’s share of the total market capitalization of all cryptocurrencies. While on the surface, it seems to reflect Bitcoin’s market…
Data from CoinGlass show, exchanges have liquidated crypto perpetual futures positions worth $227 million in the past 24 hours. Bullish longs accounted for nearly 80% of the tally. Meanwhile, over $67 million worth of bitcoin longs and shorts, referring to bets on and against price rises, respectively, have been liquidated in the past 24 hours. This was among the highest liquidation events in 2023. Original
CryptoX – Cryptocurrency Analysis and News Portal Crypto analysts are marveling at Render Token’s rendering of a price surge, as RNDR rises over 50% in 7 days even while pulling back slightly over 24 hours. Source The post What is Render, and why is it 50% up this week? appeared first on CryptoX. CryptoX Portal
MATIC price is down over 10% after the SEC’s lawsuit against Kraken mentioned MATIC as security. Polygon is under pressure and might struggle to recover. MATIC price started a fresh decline from the $0.98 resistance against the US dollar. The price is trading below $0.80 and the 100 simple moving average (4 hours). There is a key bearish trend line forming with resistance near $0.788 on the 4-hour chart of the MATIC/USD pair (data source from Kraken). The pair could continue to decline if it stays below the $0.800 resistance…