Earlier this month, a project called Miss Universe Coin was announced at PBW. Donald Lim, the founder of the organization managing the PBW, said during the event that the PBW will “launch the Miss Universe Coin.” However, weeks after the announcement, the official organization behind Miss Universe has denied any association with the coin project and called it a fraud. Continue Reading on Coin Telegraph More
Blockchain intelligence platform Arkham Intel, on Sept. 22, revealed that U.S.-based crypto exchange Coinbase currently possesses close to 1 million Bitcoins (BTC) in its wallets. The Bitcoin holding is valued at over $25 billion per the current market rates. It also constitutes almost 5% of all Bitcoin in circulation, an amount that would put Coinbase on par with the alleged holdings of Bitcoin’s elusive founder, Satoshi Nakamoto.As asserted by Arkham, Coinbase’s Bitcoin portfolio consists of a grand total of 947,755 BTC. To put things in perspective, the current circulating supply of Bitcoin is approximately 19,493,875, as recorded by the crypto price tracking platform CoinGecko. However, it’s critical to bear in mind that most of the coins belong to crypto exchange users, especially since Arkham highlighted that Coinbase utilizes around 36 million Bitcoin deposits and holding addresses, all of which the on-chain analysis platform consistently tracks and identifies.The data company also shared that Coinbase’s most substantial cold wallet contains 10,000 BTC, equating to about $265.8 million. Moreover, through an analysis of Coinbase’s financial reports, Arkham anticipates that the exchange might have additional Bitcoins that are yet to be labeled and remain unidentified.Furthermore, Arkham uncovered that Coinbase’s cryptocurrency portfolio extends beyond Bitcoin and includes many other digital currencies.The exchange reportedly houses close to 1.68 million Ether (ETH), which is valued at roughly $2.69 billion. Chainlink (LINK) is another cryptocurrency in Coinbase’s possession, with 68.59 million LINK tokens, estimated to be worth about $471 million. The exchange also holds 222 million USD Coin (USDC), a stablecoin pegged at a 1:1 ratio with the U.S. dollar, and a noteworthy 921,000 Binance Coin (BNB) valued at approximately $194 million.Meanwhile, the Bitcoin price has been holding steady in the wake of the decision by the Federal Open Market Committee (FOMC) not to hike interest rates. The coin made a near negligible gain of 0.1% in the last 24 hours and was trading at $26,599, with a trading volume of $26.5 billion at the time of going to press.This article was originally published on Crypto.news More
Bitcoin dominance refers to the percentage of the total cryptocurrency market capitalization that Bitcoin holds. When Bitcoin’s dominance rises, it often indicates that investors are favoring Bitcoin over other altcoins. This could be due to a variety of reasons, such as increased confidence in Bitcoin’s stability, technological advancements, or significant news events related to Bitcoin.On the flip side, high dominance can spell a period of stagnation or decline for altcoins. If investors are flocking to Bitcoin, it might mean they are moving their funds away from altcoins, leading to potential price drops for these alternative cryptocurrencies.Source: Let’s delve into the recent price performance of Bitcoin. Over the past week, Bitcoin has shown mixed dynamics with a 50 EMA breakthrough and reversal below 200 EMA a few days after.Now, considering , which is often viewed as the leading altcoin, its price performance has been rather negative, reversing at local resistances and losing volatility. While Ethereum has its own unique features and use cases, its price often moves in tandem with Bitcoin. However, when Bitcoin’s dominance rises sharply, Ethereum and other altcoins might not see the same level of growth.Another factor to consider is the rising hashrate of . The hashrate is a measure of the computational power being used to mine and process Bitcoin transactions. A rising hashrate indicates increased network security and miner confidence in the profitability of mining Bitcoin. This could be another reason behind Bitcoin’s growing dominance.Historically, Bitcoin has gone through cycles of bull runs followed by bear markets, roughly every four years, often influenced by its halving events. If we are currently in a particular phase of this cycle, it could further explain the shifts in market dominance.This article was originally published on U.Today More
Data from Cointelegraph Markets Pro and TradingView showed BTC price stability holding firm over the weekend.Continue Reading on Coin Telegraph More
Here’s a quick guide with the answers. The great news is that, yes, buying Bitcoin (BTC) in the United Arab Emirates is permitted, and the country is actually one of the most welcoming to cryptocurrency exchanges and investors.Continue Reading on Coin Telegraph More
In May 2021, Thevamanogari Manivel transferred funds to her partner Jatinder Singh’s Crypto.com account. However, the exchange detected that the bank account did not match the exchange account. Therefore, a refund was issued, but instead of refunding the 100 AU$ that the couple tried to put in, the exchange mistakenly sent 10.5 million AU$ to Manivel’s bank account. Continue Reading on Coin Telegraph More
According to Arkham, the exchange’s holdings amount to almost 5% of all existing Bitcoin. Arkham said that Coinbase holds a total of 947,755 BTC. At the moment, Bitcoin’s circulating supply is around 19,493,537, according to coin information website CoinGecko. Continue Reading on Coin Telegraph More
The Ethereum (ETH) blockchain witnessed a significant reduction in network fees, with users paying a mere $1.15 per transaction, Santiment data shows. The current decline in Ethereum’s transaction fees carries with it a historical pattern that bodes well for the network’s utility. As transaction fees drop, Ethereum becomes a cheaper choice for users to interact with its versatile platform. This development holds the promise of boosting Ethereum’s overall market value.Lately, there has been a notable rise in the level of on-chain transactions within the Ethereum network. The figure, totaling 1,089,893 user active wallets (UAW), marks the second-highest activity level in Ethereum’s history. Blockchain analysts at Santiment noted that such spikes in on-chain activity could be a signal for potential price rebounds.This increased activity suggests growing interest and utility in the Ethereum network, which may positively impact its market capitalization in the coming months.While the wider cryptocurrency landscape sees significant price dips, Ethereum has remained above the $1,500 mark.In June, analysts expressed optimism in the world’s second-largest crypto, with some predicting Ethereum’s ascent to a historic high of $3,000. What fuels this bullish sentiment is the remarkable dwindling of ETH reserves on exchanges, plunging to an unprecedented low of 12.6%.This scarcity of Ethereum in exchange wallets underscores the platform’s robust demand, offering a compelling narrative amidst turbulent crypto seas. This scarcity of tokens available for sale on centralized exchanges is considered a bullish sign of Ethereum’s future performance.In a significant move, Grayscale recently filed an application for an Ethereum futures-based exchange-traded fund (ETF). This application follows a previous filing under the Securities Act of 1933, the same regulatory framework governing commodities and spot Bitcoin (BTC) ETFs.Notably, Grayscale‘s filing for an Ethereum futures ETF marks an important distinction, as the SEC has previously approved Bitcoin futures ETFs under both the Securities Act of 1933 and the Investment Company Act of 1940, which regulates most security-based ETFs. This move by Grayscale reflects the growing institutional interest in Ethereum.In the midst of Ethereum’s journey, co-founder Vitalik Buterin’s voice resonates with a clear vision. Buterin places a strong emphasis on two pivotal pillars: privacy and decentralization. These principles, he asserts, are not mere aspirations but core priorities guiding Ethereum’s path forward.In a crypto landscape marked by change, Buterin’s commitment to these ideals illuminates Ethereum’s enduring quest for a more private, decentralized, and inclusive digital future He expressed concerns about the vulnerability of centralized entities like custodial exchanges, which can be easily corrupted. Buterin advocates for direct transactions on the Ethereum blockchain to empower users and enhance security.After facing resistance on July 14, Ethereum’s (ETH) price has been on a downward trend. Today, ETH is trading at $1,593, reflecting a 2.7% price decline in one week. Ethereum’s market capitalization stands above $191 billion, according to CoinGecko.The Relative Strength Index (RSI) of Ether on the weekly timeframe currently stands at 21.8, indicating a potential oversold condition. Ethereum has a critical support level of $1,500.While Ethereum’s recent price decline may worry investors, its fundamental developments and growing institutional interest suggest a promising future. This article was originally published on Crypto.news More
