Tag: Million

Is This Bearish For Solana? $180 Million Transfer Raises Eyebrows

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With almost $180 million in SOL tokens moved to cryptocurrency exchange Coinbase, Solana, the fast-moving blockchain network, has become entangled in whale activity. Investors feel chilly from this large fund movement, which begs the question of where the price of the currency will go in the future. Related Reading Whales Making Waves The transfers, identified by blockchain tracker Whale Alert, originated from unknown wallets and landed at Coinbase, a major exchange platform. This large-scale movement suggests potential selling by major SOL holders, often referred to as “whales.” Whales, due to…

This Dormant Bitcoin Wallet Holding $6.8 Million BTC Just Reactivated, Are They Selling?

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Bitcoin has recently been plagued with massive selling pressure, with different entities looking to offload their holdings. This time, on-chain data shows a dormant Bitcoin wallet that transferred over $6.8 million in Bitcoin, suggesting that this whale may also be looking to sell their tokens.  Dormant Bitcoin Wallet Transfers Funds For First Time In 12 Years On-chain data shows that a Bitcoin wallet (1Nxxi) that had been dormant for 12 years transferred funds for the first time on July 4. The wallet contained $6.8 million worth of Bitcoin, with all…

20% Price Drop Follows $87 Million Spending Outrage

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The winds of change are swirling around Polkadot (DOT). After a month-long slump that mirrored a broader cryptocurrency market downturn, DOT finds itself at a critical juncture. Source: Coingecko Technical indicators hint at a bullish reversal, with some analysts predicting a significant price surge for the interoperable blockchain darling. However, a recent spending spree by the Polkadot Foundation has cast a shadow of doubt, leaving the community divided. Falling Wedge Hints At Breakout, Analysts Eye $9 Target As technical analysis presents a potentially hopeful picture, DOT holders’ hope wavers. On…

Nearly $200 Million Liquidated as Bitcoin Slips Below $61,000

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In a turbulent 24-hour trading session, the cryptocurrency market saw nearly $200 million wiped out in liquidations as Bitcoin price dropped below $61,000. This sharp decline triggered a wave of liquidations, affecting many investors and traders. Market Meltdown And Crypto Liquidation The total market valuation has plunged by approximately 2.7% to around $2.34 trillion, underscoring heightened volatility and market stress. Related Reading Bitcoin, leading the downturn, shed 1.3% over the week, with a steep 2.8% drop recorded in the last day. This downturn has not only decreased the value of…

Mara Collapse: African Crypto Exchange Burns $16 Million for Salaries and Bonuses

Pan-African crypto exchange Mara reportedly lost approximately $16 million out of the $23 million raised from investors. Following the exchange’s collapse, founder and CEO Chinyere Nnadi is said to have launched a new entity called Jara. Nnadi reportedly argued that the exchange depleted its raised capital by paying high salaries to attract talent. CEO Avoids […] Source BitcoincryptoexchangeExchanges CryptoX Portal

200 Million XRP Tokens On The Move, Where Are They Headed?

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On-chain transaction data shows the XRP ecosystem recently witnessed an enormous movement of 200 million XRP tokens worth $94.5 million ahead of the periodic unlock from escrow. This transaction was recorded on-chain on June 30 between two unknown wallets, indicating it isn’t an escrow unlock. Although the periodic unlock has already been completed since this transaction, XRP traders and enthusiasts are still fascinated by its enormous nature, prompting a detailed look into the on-chain data. Breaking Down The 200 Million XRP Transfer According to on-chain data initially noted by large…

Imperial College London launches new lab, backed by £1 million from the IOTA Foundation

The facility is advancing bias-free AI algorithms, circularity in industrial robots and electric vehicles, battery product passports, predictive analytic tools for detecting pollution off-shoring, and more. The IOTA Foundation just announced the inauguration of a new research facility, the Imperial IOTA Infrastructures Lab (I3-Lab), at Imperial College London.  The lab is well-positioned to lead research thanks to a generous £1 million endowment from the IOTA Foundation and additional funding from Imperial College London. The facility aims to advance bias-free AI algorithms, circularity in industrial robots and electric vehicles, battery product…

Bitcoin ETFs end 5-day inflow streak, record $13 million net outflows

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Spot Bitcoin (BTC) ETFs in the U.S. broke their five-day net inflow streak on July 2, witnessing $13.7 million in net outflows amid a predominantly bearish day for BTC.  According to data provided by Farside Investors, these investment products recorded $13.7 million in negative net flows on July 2. This follows a positive start to the month, with $129.5 million in capital inflows on July 1, the highest in nearly a month. The recent bearish trend was significantly influenced by the disappointing performance of the Grayscale Bitcoin Trust (GBTC). This…