Crypto soothsayer
While people were wondering, "Who’s selling?!", Bitcoin miners offloaded 2,655 BTC over the weekend, totaling around $154 million.
Here's why there was a sell-off: Bitcoin miners' earnings dropped to an 11-month low in August. 📉
The total profits for the month were $851.4 million, marking a $100 million decrease from July. 🧐
The total profits for the month were $851.4 million, marking a $100 million decrease from July. 🧐
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According to Santiment, while small traders are in a panic, big players are busy stacking up Bitcoin. 🐳
In August alone, over 283 wallets crossed the 100 BTC threshold.
👀 Currently, there are 16,120 wallets holding more than 100 BTC, setting a new record for the past 17 months. The number of addresses with at least 10 BTC is also rising.
In the last 30 days, wallets with balances between 10 and 10,000 BTC have collectively accumulated more than 133,000 BTC, totaling over $7.6 billion. 🧐
In August alone, over 283 wallets crossed the 100 BTC threshold.
👀 Currently, there are 16,120 wallets holding more than 100 BTC, setting a new record for the past 17 months. The number of addresses with at least 10 BTC is also rising.
In the last 30 days, wallets with balances between 10 and 10,000 BTC have collectively accumulated more than 133,000 BTC, totaling over $7.6 billion. 🧐
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Crypto soothsayer
Yesterday, the TON network experienced another 4-hour outage 🛠 It seems that without Durov, TON just can't keep running... 🤔 This marks the second TON failure in just a few days. The network issues are being linked to the strain caused by interactions with…
On August 29, the TON blockchain processed an average of 100 transactions per block within seconds, with DOGS transactions accounting for up to 35% of the total transactions in some block - Cryptoquant
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📊 Polymarket — a hidden gem?!
For August, Polymarket’s trading volume reached $470 million. 💰
Meanwhile, the entire NFT market across all networks totaled $378 million for the same month, falling $92 million short. 🤷
For August, Polymarket’s trading volume reached $470 million. 💰
Meanwhile, the entire NFT market across all networks totaled $378 million for the same month, falling $92 million short. 🤷
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Exchanges are downplaying liquidations to keep traders from leaving 🧐
👀 Vetle Lunde from K33 Research suggests that over the past three years, Binance, Bybit, and other crypto exchanges have altered their liquidation reporting algorithms. This has led to an understatement of real trader losses. 📉
The motive? Fewer reported liquidations attract more traders and boost the exchanges' profits. 💰
👀 Vetle Lunde from K33 Research suggests that over the past three years, Binance, Bybit, and other crypto exchanges have altered their liquidation reporting algorithms. This has led to an understatement of real trader losses. 📉
The motive? Fewer reported liquidations attract more traders and boost the exchanges' profits. 💰
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Elegant Scam 🕺
🤠 Frontier recently converted their $FRONT tokens to $SLF as part of a rebranding effort.
▪️ The conversion was 1:1, but the total token supply increased fourfold!
Interestingly, only 11 wallets voted on the rebranding proposal, with no votes against it.
A single whale held 99% of the votes 🐳
Ah, the wonders of decentralization! 😁
🤠 Frontier recently converted their $FRONT tokens to $SLF as part of a rebranding effort.
▪️ The conversion was 1:1, but the total token supply increased fourfold!
Interestingly, only 11 wallets voted on the rebranding proposal, with no votes against it.
A single whale held 99% of the votes 🐳
Ah, the wonders of decentralization! 😁
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Crypto soothsayer
🚨 WazirX Exchange Hacked! 🚨 🇮🇳 The Indian exchange WazirX was hacked through a compromised multi-signature ETH wallet. 💰 Assets worth $234.9 million were transferred to a new address. The initiating party for each transaction was funded through the Tornado…
🥷 Hackers who breached the Indian exchange WazirX have started moving funds through the Tornado Cash mixer. 🌪
So far, 2,600 ETH ($6.5 million) have been transferred. 👀
So far, 2,600 ETH ($6.5 million) have been transferred. 👀
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Ethereum Layer-1 Revenue Collapse: What's Behind the Drop? 📉
👀 Since the Dencun upgrade on March 13, 2024, Ethereum's layer-1 network revenue has plummeted by 99%! Despite a surge in layer-2 (L2) user activity and transactions—both doubling since March—fees for layer-1 transactions have dramatically dropped from $35.5M to just $578,000. 🙀
The Dencun upgrade, aimed at reducing layer-2 fees, has led to an explosion of competing L2 solutions. With 74 L2 and 21 layer-3 projects now vying for users, the race to offer the lowest fees has intensified, driving more activity off the Ethereum base layer. 🧐
This fierce competition has driven transaction costs down, counteracting the deflationary effects of EIP-1559 and causing a steady increase in ETH supply. Therefore, Ethereum has ceased to be a deflationary asset, which can negatively affect its price. 🤷
Is the L2 boom causing Ethereum’s base layer to suffer? 🤔🔍
👀 Since the Dencun upgrade on March 13, 2024, Ethereum's layer-1 network revenue has plummeted by 99%! Despite a surge in layer-2 (L2) user activity and transactions—both doubling since March—fees for layer-1 transactions have dramatically dropped from $35.5M to just $578,000. 🙀
The Dencun upgrade, aimed at reducing layer-2 fees, has led to an explosion of competing L2 solutions. With 74 L2 and 21 layer-3 projects now vying for users, the race to offer the lowest fees has intensified, driving more activity off the Ethereum base layer. 🧐
This fierce competition has driven transaction costs down, counteracting the deflationary effects of EIP-1559 and causing a steady increase in ETH supply. Therefore, Ethereum has ceased to be a deflationary asset, which can negatively affect its price. 🤷
Is the L2 boom causing Ethereum’s base layer to suffer? 🤔🔍
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TON Crashes 94%! 😱
TON has dropped to $0.30
on CoinMarketCap 📉
It's not even showing in the top 10! But don’t worry, it’s just another network glitch. 💻😵💫
TON has dropped to $0.30
on CoinMarketCap 📉
It's not even showing in the top 10! But don’t worry, it’s just another network glitch. 💻😵💫
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TON Accelerator and TON Ventures have announced the launch of the TON Accelerator: Acc.
💰 This $2.5 million incubation program will support 5 startups working on the TON blockchain. Selected projects will get 3 months of growth support, funding, and expert assistance.
🔨 Oh, and CoinMarketCap is fixed now—TON is showing a current price of $5.16. 😉
💰 This $2.5 million incubation program will support 5 startups working on the TON blockchain. Selected projects will get 3 months of growth support, funding, and expert assistance.
🔨 Oh, and CoinMarketCap is fixed now—TON is showing a current price of $5.16. 😉
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Bybit exchange has announced the listing of the Hamster Kombat token, following the lead of OKX and Bitget.
Spot market trading on Bybit, along with other platforms, is set to begin on September 26.
Currently, on Bybit's pre-market platform, the HMSTR token is trading at $0.094. Since its launch, the pre-market trading volume has already surpassed $2.5 million. 💰
Spot market trading on Bybit, along with other platforms, is set to begin on September 26.
Currently, on Bybit's pre-market platform, the HMSTR token is trading at $0.094. Since its launch, the pre-market trading volume has already surpassed $2.5 million. 💰
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The founders of Glassnode have confidence in September. 🚀
👀 While September has historically been a weak month for BTC in terms of returns, this year it "begins with growth catalysts, and when everyone expects one thing, usually the opposite happens." 🤔
👀 While September has historically been a weak month for BTC in terms of returns, this year it "begins with growth catalysts, and when everyone expects one thing, usually the opposite happens." 🤔
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Binance executive Tigran Gambaryan appeared in a Nigerian court on crutches, reportedly in severe pain, as his trial for money laundering resumed.
Held for six months, Gambaryan's health has deteriorated significantly, suffering from a herniated disc, pneumonia, malaria, and tonsillitis. 😷
His family and lawyers claim he has been denied adequate medical care and access to legal counsel.
⚖️ The judge allowed him to use a wheelchair, and a new bail application has been filed.
The case has drawn criticism from Binance and Gambaryan’s family, with calls for U.S. intervention on humanitarian grounds. 🧐
Held for six months, Gambaryan's health has deteriorated significantly, suffering from a herniated disc, pneumonia, malaria, and tonsillitis. 😷
His family and lawyers claim he has been denied adequate medical care and access to legal counsel.
⚖️ The judge allowed him to use a wheelchair, and a new bail application has been filed.
The case has drawn criticism from Binance and Gambaryan’s family, with calls for U.S. intervention on humanitarian grounds. 🧐
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Today, Nvidia saw its market capitalization drop by $278 billion (-9.5%). 📉
This massive decline follows the US Department of Justice ramping up its investigation into Nvidia and issuing a subpoena to explore potential antitrust violations. 🧐
The fallout from Nvidia’s drop has extended to other major "big seven" companies, which collectively lost about $0.5 trillion in market capitalization. 💰🙀
👀 The crypto market hasn’t been immune either; Bitcoin dipped below $56,000 and is currently trading near that level. In the past 24 hours, $170 million in long positions have been liquidated.🤷
This massive decline follows the US Department of Justice ramping up its investigation into Nvidia and issuing a subpoena to explore potential antitrust violations. 🧐
The fallout from Nvidia’s drop has extended to other major "big seven" companies, which collectively lost about $0.5 trillion in market capitalization. 💰🙀
👀 The crypto market hasn’t been immune either; Bitcoin dipped below $56,000 and is currently trading near that level. In the past 24 hours, $170 million in long positions have been liquidated.🤷
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Polymarket integrated into Bloomberg Terminal 💻
🔮Polymarket founder Shane Coplan announced the integration of a decentralized prediction platform into a computer system from Bloomberg.
- he wrote.
🔮Polymarket founder Shane Coplan announced the integration of a decentralized prediction platform into a computer system from Bloomberg.
What once was a fringe, sci-fi idea for transforming the flow of information is now becoming the new normal, as 10s of millions of people build habit around relying on Polymarket forecasts as a source of truth, to make sense of what’s going on in the world. And it’s still early.
- he wrote.
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