🪙 Ethereum accumulation trend hits new highs following FTX implosion
Ethereum whales and sharks have been accumulating Ether (ETH) at a record rate since the FTX crash, Santiment reported on Nov. 30. The market intelligence platform revealed that wallets holding between 100 and 100,000 ETH had reached a 20-month high. Santiment highlighted the accumulation pattern leading to Ethereum Merge. According to the chart, Ethereum whales and sharks acquired more ETH in the weeks preceding the Merge, which pushed the asset’s value up but dumped immediately after the Merge. The blockchain analytics firm noted that the addresses dumped between October and November.
Ethereum whales and sharks have been accumulating Ether (ETH) at a record rate since the FTX crash, Santiment reported on Nov. 30. The market intelligence platform revealed that wallets holding between 100 and 100,000 ETH had reached a 20-month high. Santiment highlighted the accumulation pattern leading to Ethereum Merge. According to the chart, Ethereum whales and sharks acquired more ETH in the weeks preceding the Merge, which pushed the asset’s value up but dumped immediately after the Merge. The blockchain analytics firm noted that the addresses dumped between October and November.
📣 Avalanche DEX Trader Joe is deploying on Arbitrum
Decentralized exchange Trader Joe is launching on the Ethereum scaling chain Arbitrum. The move represents Trader Joe’s first deployment on a new chain since it launched in 2021. Trader Joe has the highest total trading volume across all applications on Avalanche. Trader Joe's Arbitrum debut will be limited in scope. Features such as its native token JOE, lending platform Banker Joe, and NFT marketplace Joepegs will only be available on Avalanche. Last week, it launched a new technology called the Liquidity Book Automated Market Maker (AMM), which it claims is more efficient than traditional decentralized exchange models.
Decentralized exchange Trader Joe is launching on the Ethereum scaling chain Arbitrum. The move represents Trader Joe’s first deployment on a new chain since it launched in 2021. Trader Joe has the highest total trading volume across all applications on Avalanche. Trader Joe's Arbitrum debut will be limited in scope. Features such as its native token JOE, lending platform Banker Joe, and NFT marketplace Joepegs will only be available on Avalanche. Last week, it launched a new technology called the Liquidity Book Automated Market Maker (AMM), which it claims is more efficient than traditional decentralized exchange models.
📉 Bitcoin mining revenues fell 20% in November
Bitcoin mining revenues fell 19.9% in November to about $472.64 million, according to data compiled by The Block Research. The cryptocurrency's price, which had been hanging around the $19,000 mark last month, slumped below $17,000 in the aftermath of FTX's collapse. Most bitcoin mining revenues came from the block reward subsidy ($460.32 million) and only a small portion from transaction fees ($12.32 million). The share of bitcoin transaction fees over total revenue increased slightly to around 3%. For a good portion of the month, bitcoin’s price was beneath $17,000, whereas in October it was trading between $19,000 and $20,000. Bitcoin miners generated about 5.3 times the revenues of Ethereum stakers.
Bitcoin mining revenues fell 19.9% in November to about $472.64 million, according to data compiled by The Block Research. The cryptocurrency's price, which had been hanging around the $19,000 mark last month, slumped below $17,000 in the aftermath of FTX's collapse. Most bitcoin mining revenues came from the block reward subsidy ($460.32 million) and only a small portion from transaction fees ($12.32 million). The share of bitcoin transaction fees over total revenue increased slightly to around 3%. For a good portion of the month, bitcoin’s price was beneath $17,000, whereas in October it was trading between $19,000 and $20,000. Bitcoin miners generated about 5.3 times the revenues of Ethereum stakers.
⚡️ Whale Initiates $12,000,000 MATIC Transaction On Coinbase As Cryptocurrency Assets Recovers.
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⚡️ VP Asset Manager Believes Ethereum Staking Offers Institutional Investors Significant Opportunities.
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