Over the weekend, a crypto whale withdrew over $206 million worth of Ethereum (ETH) from the Bitfinex exchange within 16 hours. Abraxas Capital Management’s Involvement According to Lookonchain, the whale is likely Abraxas Capital Management, a UK-based investment firm specializing in crypto since 2017. The firm manages over $2 billion in digital assets. DeFi Transactions…
Consolidation Phase Nearing End Crypto strategist Jason Pizzino believes Bitcoin (BTC) is on the verge of a significant breakout. He notes that BTC has been consolidating around $60,000 for several months, a pattern similar to last year before a nearly 3X surge. Parallels to Previous Bull Market Pizzino draws parallels between the current market and…
Economic Cycles and Asset Performance Arthur Hayes, co-founder of BitMEX, draws parallels between the economic upheavals of the 1930s-1970s and today’s financial landscape. He categorizes these cycles into: Local Cycles: Focus on national protectionism and financial repression, leading to inflation. Global Cycles: Encourage global trade and investment, resulting in deflation. Bitcoin’s Emergence in a Local…
Energy Consumption and Carbon Emissions Cardano’s Proof of Stake (PoS) network uses significantly less energy than traditional Proof of Work (PoW) networks. Its annual energy consumption is 704.91 MWh, much lower than Bitcoin’s energy consumption, which is equivalent to that of small countries. Cardano’s annual carbon emissions are estimated at 250.73 tonnes of CO2 equivalent….
Cardano (ADA) has lost its reign as the top network for development activity. Despite Charles Hoskinson’s claims of major updates, ADA has fallen to fifth place, overtaken by other crypto networks. Development Activity Rankings Santiment, a market intelligence platform, recently released a list of the top 10 cryptocurrencies with the highest development activity. Cardano, once…
Biden’s Policies Under Fire Cardano founder Charles Hoskinson is calling on US voters to focus on crypto in the upcoming elections. He believes blockchain technology can revolutionize the country’s economy, politics, and society. Hoskinson is particularly critical of President Joe Biden’s administration, accusing it of stifling the crypto industry through its “regulation by enforcement” approach….
Major Upgrade for Ethereum Transactions Ethereum co-founder Vitalik Buterin has introduced a game-changing feature for the Ethereum blockchain that promises to significantly speed up transaction confirmations. Single Slot Finality (SSF) The new SSF feature streamlines the consensus-building process on the Ethereum network, making transactions almost instantaneous. This addresses long-standing issues with efficiency and scalability. How…
A top trader is warning crypto bears that their time to drive the market lower is running out. Bullish on Dogwifhat (WIF) The analyst, known as the Flow Horse, is bullish on the Solana-based memecoin dogwifhat (WIF). He believes WIF will continue to perform well until the end of the bull market. Memecoin Dilution While…
Outflows Institutional investors have been pulling money out of crypto for the third week in a row, according to CoinShares. Digital asset investment products saw $30 million in outflows last week, with Ethereum (ETH) products leading the way. Ethereum’s Woes Ethereum has had one of its worst weeks in years, with $61 million in outflows….
Crypto analyst Ali Martinez has noticed a surge in new Bitcoin (BTC) addresses, suggesting a potential return of retail investors. Despite recent market volatility, the number of new addresses has broken a downtrend line, reaching its highest level since April. Miners Capitulating, Bullish Signal Martinez also observed that Bitcoin miners are selling their positions, which…
