We all know by this point that this point that Harmony ONE has had a $100 million hack. The team's proposal is to not repeg the staked tokens and to "reimburse" users by doing a hard fork that would inflate the token count (I bet this would be the first hard fork in the history…
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Robinhood, the app, quite literally takes from the poor and gives to the rich. In case you are too young to know the story of Robin Hood, it's the story of a man who stole from the rich and gave to the poor. It's tragically funny, honestly. Their app name is Robin Hood and they…
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I sold some crypto to buy back later if it goes down. It’s down but the spread is .33. Meaning the price was $4.28 but to convert usdc to it was 4.51. Can make any money swing trading with those margins. It seems like it used to be .03-.05 difference plus their fee. I get…
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Santander, one of the biggest banking institutions in the world, has announced it will start offering cryptocurrency services in Brazil. Its CEO, Mario Leão, made the announcement in an interview with local media, stating that the company was still seeking the best way of getting into the cryptocurrency services market. Other banks and fintech organizations […]
“The intention is to remain right-sized for any entity considering a potential acquisition of or partnership opportunity with CoinFLEX,” said the exchange.
On-chain data shows the Bitcoin exchange whale ratio has declined recently as the crypto surges above the $24k mark. Bitcoin Exchange Whale Ratio (EMA 7) Is Currently Below 0.50 As per a post from CryptoQuant, the BTC exchange whale ratio has gone down recently while the price has surged up. The “exchange whale ratio” is an indicator that measures the ratio between the sum of the top 10 Bitcoin transactions to exchanges and the total exchange inflows. exchange whale ratio = sum of top 10 inflow txs (in BTC) ÷ total exchange inflows (in BTC) Here, the ten largest transfers are considered as they generally belong to the whales. Thus, when the value of the ratio is high, it means whales are making up for a large part of the total inflows right now. Since investors usually send their BTC to exchanges for selling purposes, this trend can be a sign that whales are dumping at the moment. and hence can be bearish for the crypto’s price. On the other hand, low values of the metric can suggest whales are currently occupying a normal amount of the total inflows. Such a trend could be either neutral or bullish for the coin’s value. Now, here is a chart that shows the trend in the 7-day exponential moving-average Bitcoin exchange whale ratio over the past month: The EMA-7 value of the metric looks to have been down in recent days | Source: CryptoQuant As you can see in the above graph, the Bitcoin exchange whale ratio (EMA-7) has been below a value of 0.50 for seven out of the last eight days. The 0.50 mark is the dumping threshold for the EMA-7 version of the metric and as the indicator has been below this value recently, the selling pressure from whales has been low. While the ratio has gone down, BTC’s price has enjoyed some upwards momentum as the coin surged up above the $24k mark earlier today. BTC Price At the time of writing, Bitcoin’s price floats around $23.5k, down 1% in the last seven days. Over the past month, the crypto has gained 15% in value. The below chart shows the trend in the price of the coin over the last five days. Looks like the value of the crypto has observed some upwards movement during the last couple of days | Source: BTCUSD on TradingView Around ten days ago Bitcoin had recovered above $23k, but only a few days later the crypto’s price again started to go downhill. However, in the last couple of days, the coin enjoyed some sharp upwards momentum as it retook $23k. Earlier today, BTC even broke above $24k, though it wasn’t long before the crypto saw a slump and came down to the current level. Featured image from Karl-Heinz Müller on Unsplash.com, charts from TradingView.com, CryptoQuant.com
BTC futures and stablecoin margin data show whales holding steady even as Bitcoin price failed to hold above $24,000.
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On July 28, the bitcoin mining company Bitfarms announced the completion of the second phase of its facility expansion, by adding roughly 18 megawatts (MW) of capacity to the operation. The mining facility dubbed “The Bunker,” now has approximately 3.8 exahash per second (EH/s), after the 18 MW increase boosted the computational power by 200 […]
