Tag: High

NFT Trading Is Down But Developer Sentiment is High

What: CryptoPunks, one of the earliest NFT projects on Ethereum and also one of the most popular collections of all time, experienced a number of high-profile trades this week, including one from prolific NFT artist Beeple. His first profile-picture (PFP) NFT purchase, the clownish Punk #4953 set the stage for other high-value buys, including Punks #6634, which sold for 235 ETH (about $432,000) and Punk #3307, which sold for 500 ETH (about $915,000). Source

Bitcoin Addresses In Loss Soar To One-Month High Amid Mixed Market Indicators

boss

Bitcoin, the pioneering cryptocurrency, is currently exhibiting mixed market signals, according to the latest data from Glassnode. The analytics firm points out that Bitcoin addresses in loss have reached a one-month high, even as the count of addresses holding smaller balances of the coin marks a record high.  The contrasting trends paint an intriguing picture of the current state of the Bitcoin market, further spurring dialogues on the future trajectory of this digital asset. BTC Addresses In Loss Reaches New Heights Glassnode’s report reveals earlier today that the number of…

Crypto Exchange Temporarily Suspends CRV Trading Citing High Volatility

“Today, certain vulnerabilities have been discovered in some of the stablecoin pools associated with Curve (CRV). As a result, CRV is currently experiencing significant volatility. We advise exercising caution when considering any investments related to CRV,” reads the announcement. “To ensure the safety of digital asset transactions, we have temporarily suspended deposits and withdrawals for CRV.” Source

Singapore High Court rules crypto personal property, compares it to fiat money

Cryptocurrency is deemed property capable of being held on trust, Judge Philip Jeyaretnam of the High Court of Singapore decided in a ruling on July 25. The Judge said he didn’t see any difference between crypto, fiat money or shells, as long as all those objects, physical or not, share value, created by mutual faith in it.  Judge Jeyaretnam handed down his ruling in a case brought by ByBit against its former employee, Ho Kai Xin. ByBit claimed the staff-member transferred around 4.2 million of USDT from the crypto exchange to her…

Bitcoin whale exchange inflow share hits 1-year high — over 40%

boss

Bitcoin (BTC) whale buying and selling in 2023 is mostly from speculative investors, new data reveals. In the latest edition of its weekly newsletter, “The Week On-Chain,” analytics firm Glassnode shows that contrary to popular belief, opportunistic entities are the most active whales. The birth of the Bitcoin “short-term holder” whale Since BTC price action returned to $30,000, a shift has taken place among Bitcoin traders. As Glassnode shows, so-called short-term holders (STHs) — investors holding coins for a maximum of 155 days — have become significantly more common. As…

Open Interest on XRP Futures Climbs to 2023 High

Open interest, or the number of unsettled futures contracts, has risen 21% since Tuesday. Higher open interest is a sign of increased bets on any asset, such as tokens or stocks, as it suggests an inflow of new money into a financial market – usually meaning a current trend is expected to continue. Source

1inch Token Surges 58% as Daily Trading Volume Spikes to 20-Month High; Investor Moves $3.7M to Binance

This creates a fragile market dynamic as market depth, a metric used to assess liquidity over a 2% spread, remains relatively low compared to trading volume. Buy-side market depth of 1inch on Binance is currently $226,272, according to CoinMarketCap. Spot sellers can capitalize on the leveraged trading activity to prompt a cascade of long position liquidations. Source

Solana price hits a 2023 high, but do strong fundamentals back the SOL rally?

boss

Solana’s (SOL) price briefly surged to a new year-to-date peak on June 14 after Ripple’s partial win against the United States Securities Exchange and Commission in the case contesting XRP’s (XRP) position as a security.  The token recorded gains of 48.09%, reaching a peak of $32.40 as news of the court ruling spread, before retracing below the $30.00 level. The positive gains following the verdict not only eliminated the losses from June 2023 when the SEC considered SOL a security in its lawsuit against Binance and Coinbase, but it also reclaimed…

Bitcoin BTC Price Soars to One-Year High at $31.7K as Investors Savor Partial Ripple Victory

boss

The largest cryptocurrency by market capitalization was recently trading at $31,328, up 3.2% over the past 24 hours. Bitcoin shot as high as $31,700 near the close of traditional markets, a more than one-year high. With a few blips, BTC had been languishing between $30,000 and $31,000 for the past three weeks as some investors fretted over potential banking missteps to cure inflation and awaited a significant price catalyst. Original