The massive withdrawal of stablecoins from exchanges is causing concern

And may also indicate the formation of a bearish trend in the cryptocurrency market.
According to the analytics platform IntoTheBlock, investors have begun actively withdrawing their USDT from exchange wallets, preferring to move funds into safer assets or cold storage. This process began on Tuesday, when approximately $1 billion worth of USDT was withdrawn from exchanges, marking the largest stablecoin outflow since May 2024. Such a significant withdrawal of funds may suggest that major players are preparing for a potential market correction.

Additionally, market participants have started to revise their trading strategies, leading to a decrease in investment volumes…

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Glassnode: 74% of BTC holders have not moved their coins for over six months

Despite Bitcoin’s 21% drop from its all-time high, 74% of all coins have not been sold or moved in the past six months, reflecting long-term investors’ confidence in the future of the cryptocurrency. This is according to data from the analytics firm Glassnode.

As per the HODL Waves chart, the share of Bitcoin held by long-term investors reached 45% on August 11, indicating a significant proportion of coins are being held in anticipation of future price increases.

Analysts previously noted that the growing share of “aged” coins indicates a solidifying expectation of higher prices and reluctance to sell at…

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The likelihood of a Fed rate cut has significantly decreased

This, in turn, has slowed the inflow of funds into cryptocurrency assets. According to CoinShares, from August 11 to 17, inflows into cryptocurrency investment funds amounted to $30 million, significantly lower than the $176 million raised the previous week. This decline reflects reduced investor optimism amid macroeconomic indicators that have lowered expectations for an aggressive Fed rate cut of 50 basis points in September.

ETP trading volume nearly halved to $7.6 billion, further indicating market weakness. The most significant impact was on funds related to Solana, which saw record outflows of $39 million, coinciding with a sharp drop in…

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The SEC Expresses Doubts About Solana’s Status as a Non-Security

The U.S. Securities and Exchange Commission (SEC) has raised concerns regarding the legal status of the cryptocurrency Solana (SOL) as a non-security during discussions with potential ETF issuers, according to a source cited by The Block.

As a result of these discussions, CBOE decided not to file Form 19b-4 with the Federal Register. If the form had been registered, it would have initiated the approval process for ETF products, putting time pressure on the SEC to make a decision, the insider noted.

Over the weekend, users noticed that the 19b-4 filings submitted on behalf of issuers had been removed…

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Illegal transactions in blockchains have decreased by almost 20%

According to a report by Chainalysis, fraudulent transactions in the network have dropped by nearly 20% since the beginning of the year:

- The total volume of illegal activities has decreased by 19.6% — from $20.9 billion to $16.7 billion
- The average amount of cryptocurrency stolen in a single operation has increased by almost 80% since January (mainly due to the rise in BTC price)
- Scammers are now more focused on centralized exchanges where BTC is traded, rather than on DeFi
- Illegal activity has decreased, while the inflow of funds into legal services has reached its…

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Miners have completed the capitulation phase and are ready for a new stage

The Hash Ribbons indicator confirmed the end of capitulation among Bitcoin miners, signaling a reduction in selling pressure from miners. According to CryptoQuant, this could be a positive signal for the market.

The Hash Ribbons metric analyzes the 30-day and 60-day moving averages of the hashrate to identify periods of financial stress among miners. For the first time since the April halving, these values crossed, which experts consider a “positive signal” for the market.

“Although this indicator doesn’t always pinpoint the exact price bottom, it often precedes price growth,” CryptoQuant specialists emphasized.

Moreover, Bitcoin’s hashrate reached a new…

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Chances of Solana ETF Approval in 2024 Are Close to Zero

The likelihood of Solana ETF approval in the U.S. in 2024 is minimal, as well as in 2025. The situation could change only with a leadership change at the SEC, according to Bloomberg analyst Eric Balchunas.

The expert also noted that Kamala Harris’s victory in the presidential election is unlikely to lead to changes, while Donald Trump’s return to the White House could have an impact.

Balchunas commented on the negative outcome of the second stage of reviewing applications for the launch of the Solana ETF, relying on a procedural flowchart provided by his colleague James Seyffart.

“No…

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What are stETH, wstETH, and weETH?

If you check any cryptocurrency market capitalization rankings, except CoinMarketCap, you may notice new cryptocurrencies in the TOP-30 that you may not have encountered before.

For example, in the CoinGecko rankings, you’ll find stETH in 8th place by market cap, wstETH in 13th place, and weETH in 27th place.

Where did they come from, and why aren’t they on CoinMarketCap?

These tokens represent different forms of the cryptocurrency ETH. CoinMarketCap doesn’t display them in its rankings to avoid confusing users, while CoinGecko and Cryptorank include them, showing a more accurate picture of market capitalization. These tokens are actively…

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How to Avoid Airdrop Scams

Despite the abundance of scams, airdrops remain a popular tool for promoting various DeFi platforms. Many protocols have yet to release their native tokens, indicating that there may be new “free coin” distributions in the future. This attracts the attention of both newcomers and experienced users looking to get free crypto assets.

However, aside from fake websites heavily promoted on social media, investors sometimes find unknown tokens in their wallets. This may seem tempting, but caution is advised. It’s not uncommon for such “gifts” to be traps set for unsuspecting users.

To check the origin of such coins, users…

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Ripple announced the launch of the beta testing phase for its RLUSD stablecoin

RLUSD is a stablecoin pegged to the US dollar.

Key points from the announcement:

- RLUSD is 100% backed by US dollar deposits, short-term US Treasury bills, and other cash equivalents.
- The reserve assets will be regularly audited by an independent firm, and Ripple will publish monthly reports.
- The primary version of RLUSD will be available on Ethereum, with plans to expand to other blockchains and DeFi protocols in the future.
- Currently, RLUSD is not available for purchase or trading but is undergoing active testing on the Ethereum and XRPL blockchains.
- Ripple intends to…

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The average transaction fee in the BTC network has surged dramatically

On August 22, the average transaction fee in the Bitcoin blockchain unexpectedly increased by 937.7% compared to the previous day, jumping from $0.74 to $7.68, according to Blockchain.com data. This marked a significant deviation from the usual trend: since July, average fees in the network had remained relatively stable and stayed below the $2 mark. Notably, on August 18, the fee hit a historic low of $0.56.

This sharp increase in transaction costs forced network participants to reconsider their strategies. Some users and developers, like Bitcoin developer Mononaut, had to incur significant expenses. Mononaut spent 0.5 BTC to consolidate…

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Time to Lower the Rate

The U.S. economy is showing signs of stabilization, inflation is moving toward the target level of 2%, and the Fed chair announced plans to lower the key interest rate this fall during the recent meeting.

How might this decision impact the crypto market?

1. Increased appeal of risky assets: When central banks lower interest rates, traditional financial instruments like bonds and deposits become less attractive in terms of returns. This prompts investors to seek alternative, higher-yielding but riskier assets, such as cryptocurrencies.
2. Increased liquidity: Lower rates are often accompanied by looser monetary policy, which…

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