According to Glassnode, a blockchain analytics company, Coinbase currently holds a massive amount of Bitcoin (BTC), accounting for about 4% of the cryptocurrency in circulation. Vast Holdings Coinbase’s custody service manages approximately 839,000 BTC, divided between its exchange and custody entities: Coinbase Exchange: 270,000 BTC Coinbase Custody: 569,000 BTC Surge in Deposits Coinbase saw a…
Falling Bitcoin Exposure Hedge funds are getting cold feet on Bitcoin. Their exposure to the cryptocurrency has dropped to its lowest level since October 2020. André Dragosch, a research expert, says this shift shows a cautious or even negative view of Bitcoin among professional investors. Broader Market Trends This caution aligns with other trends, like…
Analysts at crypto hedge fund Pantera Capital predict that Solana (SOL) is poised to gain market share from Ethereum (ETH) and other layer-1 competitors. Advantages of Solana’s Architecture According to Pantera analysts, Solana’s unique architecture gives it an edge over other blockchain projects. Its monolithic design and focus on optimization provide: Enhanced user experience Increased…
Whales Reduce Holdings Over the past year, Dogecoin whales (holders with at least 1% of the supply) have been unloading their coins. A year ago, they held 45.3% of the supply, but today it’s down to 41.3%. This means they’ve sold around 9% of their holdings. Redistribution to Smaller Holders As whales sell, smaller investors…
Despite the recent market downturn, Dogecoin (DOGE) has bucked the trend and seen its price rise. Here are a few reasons why: X Payments Speculation Rumors are swirling that X (formerly Twitter) will soon accept DOGE payments. This has sparked excitement and increased demand for the meme coin. Arthur Hayes’ Support BitMex founder Arthur Hayes…
Market Downturn Impact Amidst a broader market decline, Solana (SOL), known for its fast and affordable transactions, has hit a 45-day low. This has raised concerns among investors about the asset’s short-term prospects. Underperformance Compared to Peers According to trading data, Solana has fallen by 24% since June 7th, underperforming major cryptocurrencies like Ethereum, Arbitrum,…
Accumulation Period and Surge Trader Jason Pizzino predicts that the altcoin market, excluding Bitcoin, Ethereum, and stablecoins, will reach new all-time highs in early 2025. He bases this on a similar accumulation period and parabolic surge observed in the last cycle from late 2018 to early 2021. Timeline Pizzino suggests that the altcoin market cap…
A renowned analyst who accurately predicted the 2022 crypto crash has expressed optimism for Solana (SOL) and Render (RNDR). Solana and Render on the Rise The analyst, known as Capo, believes that Solana, an Ethereum competitor, and RNDR, a blockchain focused on GPU rendering, are poised for an uptrend. Capo has increased his long positions…
An airdrop hunter has raked in a whopping $753,000 worth of ZKsync tokens (ZK) across 85 wallets, according to crypto tracker Lookonchain. Binance Deposit and Sale The hunter then deposited 2.71 million ZK, valued at $678,000, into Binance. They also sold 300,000 ZK for 20 Ethereum (ETH), worth $69,000, through the decentralized exchange SyncSwap. ZKsync…
A crypto analyst known as Credible believes Bitcoin (BTC) could be close to finding a bottom at current levels. Swing Pattern Failure Credible noted a potential swing pattern failure (SFP) in Bitcoin’s lower time frame after a bounce from $64,000. SFPs are often seen as possible reversal points. “There’s a chance our BTC bottom is…
