On Thursday, the firm moved a total of 291,000 ETH, worth $553 million, into staking contracts, according to a Dune Analytics chart by 21Shares. A total of 192,000 tokens were deposited into the Celsius staking pool, while 99,000 tokens were staked with Figment, Wan reported. Source
Bitcoin and most major altcoins are witnessing subdued price action, indicating a lack of buying interest from the larger players. The United States equities markets rallied sharply on June 2 even though nonfarm payrolls in May rose by 339,000, blowing past economists’ expectations of a 190,000 increase. A few analysts pointed out that the market was possibly encouraged by the slower growth rate of hourly earnings, which was slightly below estimates, and an uptick in the unemployment rate. The rally in the equities markets failed to act as a tailwind…
The number of staked Ether (ETH) in May reached a new all-time high of 2.96 million ETH, approximately 2.46% of the total supply. The amount of ETH staked in May does not include withdrawals and is more than twice as big as the second-highest amount registered in February 2022. Monthly amount of staked Ether since November 2020. Source: Dune The significant surge in staked ETH comes within a month of the Shapella upgrade on April 12, allowing validators to withdraw their staked ETH after two years. Many then believed the heavy…
The BTI and ETI futures contracts, sized at 1 bitcoin and 10 ether per contract respectively, will be settled in U.S. dollars monthly and let institutional traders hedge market bets, express long-term market views, or utilize the products in complex trading strategies. Original
As the cryptocurrency industry faces regulatory challenges in the United States, public crypto exchange Coinbase is moving forward with its futures contracts. Coinbase, on June 1, revealed its plans to introduce Bitcoin (BTC) and Ethereum (ETH) futures contracts on June 5 through its Commodity Futures Trading Commission (CFTC)-regulated derivatives exchange. The futures contracts will be targeted toward institutional investors. According to Coinbase, the newly announced institutional-sized contracts will have a specific size of 1 Bitcoin and 10 Ethereum. This sizing is intended to enable clients to effectively manage their exposures…
Bitcoin and most major altcoins are struggling to hold on to their higher levels, indicating that the bears have not given up yet. After rising for four successive months, Bitcoin is on track to end May with losses of about 7%. Another noteworthy thing in May is that Bitcoin’s (BTC) 30-day volatility dropped to 1.52%, which is far below the yearly average of 4% and higher. Glassnode data shows that Bitcoin’s low volatility periods have only lasted for 19.3% of its total price history. Hence, there is an expectation for volatility to…
Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied A substantial amount of ethereum (ETH), valued at tens of millions of dollars, was sent to the ethereum burn address in a series of unusual transactions conducted by Kucoin in 2021. Conor Grogan, head of product at Coinbase, discussed the transactions with 23,000 of his followers on Twitter. Thousands of Kucoin deposit addresses sent $10s of millions of dollars of ETH to the Ethereum burn address This was back in September ’21- I don’t think anyone ever…
On May 20, 2023, Binance made an announcement on Twitter that “Due to circumstances surrounding the protocol, Binance will temporarily pause $TORN deposits until further notice.” The exchange has since followed up the suspension with an announcement on May 29, stating that deposits are resumed. Restoring governance within the TORN DAO Binance has officially reopened deposits for the token on both the Ethereum (ERC20) network and the BNB Smart Chain (BEP20). The move comes after the successful execution of a proposal aimed at restoring governance within the TORN DAO, prompting…
A new token standard, BRC-721E, has been introduced, designed to facilitate the migration of NFTs from Ethereum to Bitcoin. A novel token standard, known as BRC-721E, has recently been unveiled to enhance the versatility of bitcoin ordinals. This development is designed to simplify the transfer of NFTs from the Ethereum blockchain to the Bitcoin blockchain. Essentially, the BRC-721E protocol facilitates the conversion of ethereum’s ERC-721 NFTs into ordinals, unique units that can embed text, images, and code onto a solitary satoshi. The inception of BRC-721E is a collective endeavor by…
VanEck analysts have explained in detail why ETH price could rise above $11K by 2030, with revenue of more than $50 billion. According to a VanEck report, the Ethereum (ETH) price could hit $11.8K by 2030. The global investment manager exposited its ETH price predictions earlier in the month. On May 9th, VanEck’s Digital Assets Research Head, Matthew Sigel, and Digital Assets Senior Investment Analyst Patrick Bush made the bold claims. The duo provided a detailed valuation methodology incorporating cash flow projections and fully diluted valuation calculations to support their argument. At…