Arthur Hayes’ family office fund has unloaded a huge chunk of its position in the decentralized finance (DeFi) altcoin Pendle (PENDLE). Hayes sold 1.59 million PENDLE for $5.62 million at an average price of $3.52 over a two-day period, resulting in a loss of $1.29 million, according to the crypto tracker Lookonchain. Lookonchain also notes …
Monthly archives: September 2024
Address Potentially Belonging To Bankrupt Crypto Lender Genesis Sends 5,000 ETH To Exchange: Arkham
The bankrupt crypto lending firm Genesis has potentially begun to move millions of dollars worth of Ethereum (ETH). Data from the digital asset deanonymizing platform Arkham shows that a crypto wallet collected 114,503 ETH worth nearly $360 million from an address belonging to Genesis Trading: Bankruptcy Distribution. According to Arkham, the receiving wallet may also …
Top Analyst Sees Solana Killer Sui Soaring to All-Time Highs, Predicts Rallies for Two Memecoins
A crypto strategist who continues to grow his following with timely altcoin predictions believes layer-1 protocol Sui (SUI) is gearing up to revisit all-time high levels. Pseudonymous analyst Bluntz tells his 275,500 followers on the social media platform X that SUI’s huge rally last week suggests that the Solana (SOL) killer is en route to …
Ethereum Whale Deposits $9.12M as Trading Volume Spikes 79%
TLDR Large Ethereum whale deposited 3,510 ETH ($9.12M) to Kraken after 2 years inactive Ethereum trading volume surged 79.30% to $28.21B in 24 hours On-chain metrics show mixed signals, with neutral Network Growth but bullish In the Money metric Long/Short Ratio slightly favors bulls at 52.28% long vs 47.72% short Ethereum price up 3.02% to …
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Ethereum price surge lifts Lido TVL by 10% despite 26k ETH withdrawals
Lido Finance reported that its total value locked (TVL) increased by 10.83% over the past week, reaching $25.18 billion as of Sept. 23. This growth is primarily attributed to a rise in Ethereum’s token price, which boosted the value of assets staked through the platform. Despite the overall increase in TVL, a net total of …
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Polymarket eyes $50M funding round, hints at potential token launch – report
Polymarket is reportedly looking to launch a token amid talks of raising $50 million in new funding, according to The Information. According to the report, the decentralized marketplace may offer investors warrants for future token purchases as part of this round. However, if the token plan proceeds, it’s unclear if investors will receive equity, token …
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Crypto ETFs see mixed flows as Grayscale GBTC outflows hit $40.3 million, ETHE loses $80.6 million
On Sep. 23, Bitcoin ETFs saw mixed flows, totaling $4.5 million. Fidelity’s FBTC ETF led inflows with $24.9 million, followed by BlackRock’s IBIT with $11.5 million. Grayscale’s smaller BTC fund also added $8.4 million. However, this was offset by significant outflows of $40.3 million from Grayscale’s GBTC, which remains one of the largest Bitcoin ETFs …
Stepn Partners With Adidas for Genesis Sneakers NFT Launch
Stepn, the Web3 move-to-earn app, has announced a new partnership with Adidas, the German sports apparel company, to issue a second Genesis Sneakers collection. Stepn qualified this new partnership as a milestone for the adoption of its Stepn Go app. The two companies will issue 1,000 co-branded Genesis Sneakers based on 4 different designs inspired …
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Latam Insights Encore: Bukele’s Zero-Debt Budget Is a Good Start to Heal El Salvador’s Economy
Welcome to Latam Insights Encore, a deep dive into Latin America’s most relevant economic and cryptocurrency news from last week. In this edition, we examine the budget proposal of Salvadoran President Nayib Bukele, which contemplates eliminating debt issuance and how this might change the Salvadoran economy and its outlook. Latam Insights Encore: Bukele’s Zero Debt …
Bitwise Executive Says ‘Things Will Likely Get Wild’ After Bitcoin ETF Options Launch – Here’s Why
Bitwise executive Jeff Park thinks “things will likely get wild” now that the U.S. Securities and Exchange Commission (SEC) has approved options on BlackRock’s Bitcoin (BTC) exchange-traded fund (ETF). Last week, the SEC greenlit accelerated approval for the listing and trading of options on the iShares Bitcoin Trust (IBIT), BlackRock’s ETF. Park, Bitwise’s head of …
Central Reserve Bank: Only 1.1% of Remittances Involve Cryptocurrency in El Salvador
The adoption of cryptocurrency, especially Bitcoin, for remittances has failed to surge in El Salvador, even with the support of President Nayib Bukele’s administration. According to data provided by the Central Reserve Bank, only 1.1% of all remittances sent to the country from January to August 2024 include cryptocurrency. Report: Adoption for Remittances Reach Only …
Sygnum Secures Liechtenstein License to Expand Crypto Services in EU
Sygnum, a Swiss digital asset banking group, has registered its local subsidiary with the Liechtenstein financial regulator. This move allows the company to offer regulated services in the EU and European Economic Area under the incoming MiCA framework. With plans for further growth in Asia, including Hong Kong and Singapore, Sygnum continues to strengthen its …
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BRICS to Discuss Alternative Payment Platforms at Upcoming Summit
Russian Foreign Minister Sergey Lavrov announced that a report on alternative payment systems for BRICS nations will be presented at an upcoming summit in Kazan. The proposal, led by Brazilian President Lula da Silva, seeks to reduce reliance on traditional financial platforms. Lavrov emphasized the increasing use of national currencies in BRICS trade, particularly with …
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UBS Favors Gold as ‘Most Preferred’ — Says ‘Hedging Properties Remain Attractive’
UBS remains optimistic about gold’s potential, despite its current record highs. The Swiss investment bank highlights key factors, including the Federal Reserve’s rate cuts and global geopolitical tensions that are boosting demand for gold as a safe-haven asset. UBS also notes that central bank purchases and investor inflows into gold ETFs are sustaining the metal’s …
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Analyst Says Clear Bull Trend Underway for AI-Focused Altcoin, Updates Forecast on FET and Two Other Coins
A closely followed crypto analyst says that a clear bull pattern is forming for one artificial intelligence (AI)-focused altcoin while updating his outlook on three other tokens. Pseudonymous crypto trader Altcoin Sherpa tells his 223,300 followers on the social media platform X that a “clear bull trend” is underway for machine learning protocol Bittensor (TAO). …