The mayor of New York City, Eric Adams, converted his first paycheck into bitcoin and ether before the price of the cryptocurrencies plummeted. However, the mayor said, “When you are a long-term investor, you don’t keep your eyes on your portfolio.” He added that the purpose of receiving a paycheck in bitcoin is to send […]
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DOGE was a whopping .14 cents when I woke up at 6 a.m. at 7:30 A.M the price jumped 12% and within 5 minutes was back down to .14 cents and now sits at a 3% total gain for the day… It's so nice that the clear pumping from influencers is dying down. Regardless of…
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The bitcoin crash rocked the market to its core when the digital asset had lost over 50% of its all-time high value to bottom out at $33,000. It was as a result of market sell-offs across the financial space, sparking a ripple effect that was felt heavily in the crypto market. Market sentiment had crumbled during this time as investors had scrambled to sell their holdings. However, not everyone saw the declining prices as a signal to sell before prices tank even more. Whales, who control a large portion of the circulating supply, took this as a cue to buy and have been filling their bags with all of the bitcoin being dumped on the market by panicking investors. Whale Gobbles Up Traded Bitcoin In a report from CC15Capital, the trading activities of a whale are outlined. In what came out to be a long document, it shows that the whale had been purchasing tens of thousands of bitcoin every few hours while traders dumped their coins. CC15Capital which is an asset allocator tracked the wallet and discovered that a single bitcoin wallet had been purchasing millions of dollars worth of bitcoin. Related Reading | Market Sentiment Crumbles As Sell-Offs Drags Bitcoin To $33,000 In the event of the past week’s price crash, this single whale had accumulated millions in bitcoin. Each purchase ranged from $2 to $18 million worth of BTC every few hours, averaging 48,000 BTC per purchase. It looked like the whale was buying up all coins being dumped on the market. By the weekend, the wallet had successfully increased its holdings by a couple of hundred thousand BTC. The more the price dropped, the more bitcoin the whale bought. BTC trading above $36k | Source: BTCUSD on TradingView.com CC15Capital, in response, called for bitcoin investors to stop dumping their coins, which are being bought by whales, thereby increasing the concentration of bitcoin supply in the hands of large investors. Stop panic selling your #Bitcoin to this guy. He’s been buying $2-18 million worth every few hours. pic.twitter.com/eCE3UKXEfD — CC15Capital (@Capital15C) January 24, 2022 Tradable BTC On The Decline CC15Capital also noted that the volume of bitcoin that is available for sale has gone down. Currently, 14.5 million of the total bitcoin supply is illiquid. This means that this supply has not moved, neither have they been traded. It is the highest concentration of supply which looks to be held for the long-term. In the same tweet, the asset allocator explains that if the wallets holding this illiquid supply were to increase their holdings by a mere 27%, a total of 4 million BTC, there would be no coins left for sale, driving the supply to zero. #Bitcoin illiquid supply (not traded) is at 14.5 million. If those who #HODL the 14.5 million Bitcoin, would increase their holdings by 27%, or 4 million $BTC, there would be exactly 0 remaining coins available for sale. Keep buying and HODL. Law of supply/demand will prevail. pic.twitter.com/RUb6gHSif6 — CC15Capital (@Capital15C) January 24, 2022 Related Reading | Has Bitcoin Reached Its Bottom? Analyst Says It Still Has A Long Way To Go Other whales have also taken advantage of the sell-offs happening in the market. As the exchange supply is dwindling, these large investors are making sure there is no shortage on their end when a supply squeeze happens. This is how you buy $1 Billion in #Bitcoin in 2 months. From $0 in November 2021 to over $1 Billion now. When you panic sell your $BTC, this is one of the guys buying it. Buy, #DCA and #HODL. pic.twitter.com/fmjpCFjCEI — CC15Capital (@Capital15C) January 25, 2022 In two months, a whale wallet that had zero BTC in November has managed to gather an impressthatalance of over $1 billion in BTC. This account looks to have started buying with the crash and has continued to do so ever since. At the time of writing, the wallet balance sits at $1,013,777,643.51. Featured image from TokeneoBit, chart from TradingView.com
Ryan Wyatt, YouTube’s Head of Gaming for seven years, is leaving next month to become CEO of Polygon Studios, the gaming and NFT arm of Polygon (MATIC). He was the man behind brining big name Twitch streamers over to YouTube and cited his passion for blockchain and Web3 development as the driving force behind the…
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Man, I was astonished to see that the cannabis business does not yet have its own actual top cryptocurrency. After years of Rodman doing that scheme with some pot coin people have been scared of having anything to do with crypto/cannabis fusions. But living at this day and time we cannot have a cannabis token…
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Bitcoin broke out in a feeding frenzy during the January 24 afternoon, raking up over $37K after falling to its lowest point in the same morning. It’s almost as if they’re mirroring each other’s moves. Bitcoin shot back up above $36,000 Tuesday morning after a day of heavy trading that saw the price drop below 33K for the first time since July 2021. Monday afternoon, it crossed $37,000 was staying pretty stable around 35k with some small increases here and there. The crypto world has seen a lot of volatility over the last few years, but it’s still surprising when prices drop 50% or more. It has happened three times since 2018 alone! And this latest sell-off was no exception; from April through July 2019, Bitcoin fell 52%. Cryptocurrencies have experienced major selloffs across the board, with cryptocurrency-related stocks being no exception. Analysts say that one primary driver of this trend is former Federal Reserve chairwoman Janet Yellen’s plan for stimulus removal and higher interest rate policies, which has negatively impacted many tech-related companies in recent months. For example, the Nasdaq has fallen 12% since January 1 alone. “The Fed is currently buffeting the crypto market,” says Martha Reyes, head of research at Bequant. “This industry has been proliferating, and it’s not surprising that investors are taking risks with their capital.” The decreased interest in crypto by retail investors is a sign that this market may have reached its peak. Glassnode, a blockchain data research firm, suggested there were two main reasons for the decline: regulatory uncertainty and low performance last year – both factors which will probably continue into 2022 as well.” Bitcoin vs New Digital Assets With the rise of NFTs, people are now more interested in investing their money into these new digital assets rather than Bitcoin. So it’s no wonder that people are starting to search for information on these non-fungible tokens. Google searches have shown a steady increase over last year, which is likely why we see more interest from investors worldwide as they seek out trends before others do. Cryptocurrencies are down across the board, but some coins have fallen further than others. For example, ether is down 50% from its last high point, while Solana and Shiba Inu cryptocurrencies based on memes experienced even steeper losses with 64% and 74%, respectively. Related Reading | Despite Decline In Bitcoin Price, Market Remains Greedy Since November, the crypto market has lost about 44% of its value, with $1.65 trillion pulled down by widespread selling in both Bitcoin and other coins across the board. Joel Kruger, a currency strategist, said, “It makes sense to me for broad crypto to get hit hard. It’s all about innovation, which should correlate with risky assets.” Crypto inevitably gets hit hard when innovation increases and risky assets follow suit. Sure enough, ether has followed this trend as well; it’s almost like an index for all these projects on ethereum – including NFTs, games, decentralized finance initiatives, or smart contracts – to see how they stack up against each other.” The moves come as a surprise to some investors and analysts. Ryan Volden, an analyst from JPMorgan, predicted that Bitcoin could reach $146,000 in the future. Traders To keep an eye on BTC $30K Level Traders are focusing on $30,000 as a significant level for multiple reasons. First, that number represents the low point of last year’s bear market, and it also opened up close to where Bitcoin was trading in 2021 when we first saw prices fall during that period – which means there is some hope left. It’s not just your investments that are at risk. For example, suppose Bitcoin falls below $5K. In that case, it will put Bitcoin prices into their 2020 levels and turn every investor who bought Bitcoins in recent months, as well as all those risking money on crypto markets, into losers. With Wall Street panicking and a sell-off of Bitcoins reaching new heights, it’s essential to keep an eye on the $30k level. If this becomes unstable, more people may end up selling their coins, leading the market back down again. Featured image from Pixabay, chart from TradingView.com
Grayscale, the world’s largest crypto asset manager, is considering 25 more crypto assets for investment products. With the latest additions, the company’s list of coins under consideration has grown to 43. “The process of creating an investment product similar to the ones we already offer is a complex, multifaceted process,” said Grayscale. 25 Crypto Assets […]
I know how to do this for PoW systems, based on hash rates of top mining pools. Can I do the same for staking pool percentages (of total staked) by top staking pools? If so, is there a live data source where I can get such data on top PoS chains? Will be grateful for…
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