Ethereum and Litecoin make a move while Bitcoin price searches for firmer footing
Bitcoin price aims for support at $17,000, while LTC follows a pre-halving narrative and ETH looks somewhat bullish in its BTC pair.
Bitcoin price aims for support at $17,000, while LTC follows a pre-halving narrative and ETH looks somewhat bullish in its BTC pair.
submitted by /u/PathologicalUpvoter [link] [comments]
Few years ago i was told not to stake Ethereum on Kraken exchanges because of awaiting Ethereum fork….. Is it now safe to stake? submitted by /u/ValentinaCrypto [link] [comments]
On-chain data shows Bitcoin whales have continued to shave off their holdings in recent weeks, suggesting that the current lows may not be attractive enough to them. Bitcoin Whales Continue To Sell Despite The Recent Deep Lows As pointed out by an analyst in a CryptoQuant post, the number of investors with balances in the 1k to 10k BTC range have continued to decline recently. The relevant indicator here is the “UTXO Count – Value Bands,” which tells us about the number of UTXOs (or wallets) that are currently in each Bitcoin value band. These value bands are groups that define ranges between which the balances of UTXOs falling into said bands lie. For example, the 100-1k BTC value band includes all UTXOs (or wallets) that currently have between 100 and 1,000 coins. Related Reading: Ethereum Bullish Signal: Whales And Sharks Continue To Add To Their Holdings The value band of interest in the current context is the “1k-10k BTC” group. Here is a chart that shows how the UTXO Count of this value band has changed over the last several months: Looks like the value of the metric has taken a hit in recent days | Source: CryptoQuant As you can see in the above graph, the Bitcoin UTXO Count for the 1k-10k BTC value band has observed some steep decline over the past month. Wallets with such large balances usually belong to the whales. This means that the holdings of these humongous holders have gone down in this period. This entire latest decline has come following the crash caused by crypto exchange’s FTX collapse, which means whales have sold their coins while the prices have been hitting lows. Related Reading: Is Bitcoin Bottom In? This On-Chain Condition Hasn’t Been Met Yet Historically, whales have shown accumulation behavior as bear markets have bottomed out. But recently instead of seeing an increase or even sideways movement, the UTXO Count of this whale value band has been strangely decreasing. This trend could be a sign that whales are still not finding the current lows attractive enough to buy more, and that they may rather be selling off their reserves as they expect the bearish winds to continue further. BTC Price At the time of writing, Bitcoin’s price floats around $17.2k, up 1% in the last week. Over the past month, the crypto has lost 7% in value. Below is a chart that shows the trend in the price of the coin over the last five days. The value of the crypto seems to have seen some rise during the past day | Source: BTCUSD on TradingView Bitcoin has been stuck moving sideways around the $17k level recently, but at the moment it’s unclear when some real volatility may return to the crypto. Featured image from Thomas Lipke on Unsplash.com, charts from TradingView.com, CryptoQuant.com
Smart contracts functionalities on the Bitcoin network could boost adoption and provide additional liquidity to DeFi.
According to a recent Ethereum Core development meeting on Dec. 8, developers disclosed that the next Ethereum hard fork, called Shanghai, could be implemented by March 2023. It’s been suggested that the Shanghai hard fork will be able to manage the network’s staked ethereum withdrawals. Ethereum Devs Aim for Hard Fork Target ‘Around March-ish’ On […]
US regulators want to know from the industry on what they think about the financial crimes associated with DeFi.
I personally am a fan of Ethereum as my second largest holding. The biggest issue around now is that it is being rumored to be classified as a security by the SEC. Arguing aside, if Ethereum is officially classified as a security what would happen short and long term?? What are the bigger implications of…
Read more
Ethereum gas fees have skyrocketed for the second time today. (https://ultrasound.money/) Currently still way over 100 gwei. A large majority of the transactions are currently being send to a account called Binance 14. The strange thing is that all those transactions are somewhat small, yet often exactly the same amout ( 0.484599504 Ether Ether for…
Read more
New CEO Bobby Moran said there was no evidence that Mike McCaffrey had “improperly” influenced coverage of Sam Bankman-Fried, FTX, and Alameda Research on the news site.