In A Nutshell Bitcoin’s recent surge to $63,000 has led to increased Funding Rates on derivatives exchanges, indicating a bullish sentiment among traders. Despite a slight price retracement and a “flat” Open Interest, the market’s confidence seems to be regaining, suggesting a stronger demand for long positions in the cryptocurrency. Understanding Bitcoin’s Funding Rates Funding…
In A Nutshell Recent developments have brought to light that over $53 million worth of Ether, stolen from the cryptocurrency exchange Poloniex in November 2023, has been transferred through Tornado Cash, a protocol known for its privacy features. Despite Poloniex’s efforts to secure the return of the stolen funds, including offering a $10 million bounty…
In A Nutshell Bitcoin [BTC] has recently witnessed a significant price surge, breaking above the $62,000 mark. This upward momentum has sparked interest across the cryptocurrency sector. However, amidst this bullish trend, data reveals that short-term holders (STHs) are selling their BTC at a loss. This article delves into the dynamics behind this counterintuitive trend,…
In A Nutshell The expansion of stablecoins, particularly USDT, USDC, and DAI, has experienced a halt following the Bitcoin halving event on April 20, 2024. This pause in growth intersects with a period of anticipation ahead of the upcoming U.S. Consumer Price Index (CPI) data release and amid signals of increased fiscal support from China….
In A Nutshell The Solana blockchain has witnessed a significant increase in the number of NFT traders, with figures soaring by 111%. However, this upsurge contrasts with a downturn in NFT sales volume, which dipped by 16% during the same period. This anomaly is attributed to the depreciating value of Solana’s native token, SOL, which…
In A Nutshell Amidst fluctuating market conditions, a significant movement within the Bitcoin ecosystem has caught the attention of enthusiasts and investors alike. Between May 7th and 8th, 2024, a select group of Bitcoin whales, holding between 1,000 and 10,000 BTC, have collectively added approximately 15,121 BTC to their holdings, amounting to an estimated value…
In A Nutshell Despite facing a significant 22% decline in April, Polkadot (DOT) showcased a remarkable increase in network activity, achieving a new all-time high (ATH) in monthly active accounts. This surge was primarily driven by contributions from parachains like Moonbeam. However, with the onset of May, a shift in momentum was observed, as DOT’s…
In A Nutshell Recent analysis indicates a notable trend among Dogecoin (DOGE) holders, particularly the large addresses, which have increased their stakes by approximately 1%. This accumulation comes amid a slight price increase for DOGE, stirring discussions on whether this could signal a bullish sentiment for the meme-inspired cryptocurrency. This article delves into the significance…
In A Nutshell A surprising turn of events has unfolded as over $20 million in bridged Ether (ETH) has been returned to the ZKasino project’s multisignature wallet. This development comes three weeks after allegations surfaced accusing the platform’s founders of orchestrating an exit scam. The recovery of approximately two-thirds of the missing funds has sparked…
In A Nutshell A significant shift is underway in the realm of artificial intelligence (AI) through the efforts of The Morpheus Network and 6079, aiming to dismantle the current dominance of Big Tech by promoting decentralized, permissionless AI based on Web3 technologies. This movement represents a critical step towards democratizing access to AI, fostering a…