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Stablecoin activity is declining, but data shows complex strategic moves shaping the market behind the scenes. Major players like Maker and new entrants like PayPal are disrupting, while incidents like the CRV drama have triggered huge outflows. The report reveals an ecosystem in flux, with funds moving and rates fluctuating as participants reassess options. The stablecoin ecosystem is undergoing dynamic change, according to new Analysis by on-chain data firm Santiment. Stablecoins, cryptocurrencies designed to maintain a steady value, have faced declining activity and supply in recent months. However, Santiment’s report reveals the key events and strategies shaping the market beneath the surface. In part 1 of 'Unraveling the Dynamics of the Stablecoin Marketcap', our insight analyzes the risk-free 3% return that some traders in #crypto are increasingly exploring. Read about the decline in #stablecoin markets, shifts in #DeFi behaviors, and mo...

An Ethereum whale who has been inactive for two years recently awoke and deposited over $10M worth of ETH to the Binance exchange. The whale wallet, which has been dormant since August 2021, transferred 6,087 ETH valued at $10.4 million to Binance a few hours ago. The funds had been sitting idle in the wallet since August 2021. Also read: Grayscale Now Closer To a Spot Bitcoin ETF Launch: Report After the transfer, the Ethereum whale’s wallet held a remaining balance of 6,000 ETH, valued at over $10M million. This means the whale had a total balance of more than $20 million worth of ETH before sending funds to Binance. A whale that has been dormant for 2 years deposited 6,087 $ ETH ($10.4M) into #Binance 2 hrs ago. And currently holds 6,000 $ ETH ($10.23M).https://t.co/Xbm5pHylM9 pic.twitter.com/9tkdpn6oul — Lookonchain (@lookonchain) August 30, 2023 Ethereum whale’s major movement happened in August 2021 The last major transaction th...

Robinhood was recently identified as the third largest holder of Bitcoin. Now, a recent Analysis by crypto analytics platform Arkham Intel revealed that the California-based exchange also has a large stockpile of Ethereum. Robinhood is currently the fifth-largest holder of Ethereum. As tabulated below, the company possesses nearly 1.5 million ETH in its cold wallet. At press time, the asset was priced at around $1700, making Robinhood ’s holdings worth $2.54 billion. Source: Arkham Intel Also Read: Bitcoin Derivatives Volume Rises to $1.4 Million Robinhood Rolls Out Ethereum Swaps for Users Just a day back, the company enabled wallet support for a couple of crypto assets. Alongside this, it also enabled Ether swaps. This feature will allow users to trade ETH for over 200 different assets. The wallet can effectively charge users gas fees from any token users hold, not just ETH. The gas fee is the price paid to transact on the Ethereum network. The exchange has alre...

XGo and TapiocaDAO discussed the revolutionary potential of omnichain solutions and their impact on Web3 mass adoption. The Web3 landscape is undergoing swift evolution, with omnichain solutions emerging as vanguards poised to redefine the crypto world. Just recently, Cointelegraph hosted an AMA session to discuss the potential of omnichain solutions and their impact on crypto mass adoption. This engaging conversation featured two distinguished guests –– Josh Cowell, head of product at XGo ID, and Matt Marino, co-founder of TapiocaDAO. The power of omnichain solutions The discussion began with a deep dive into the distinctions between cross-chain, multichain and omnichain technologies. Cowell and Marino highlighted the significance of omnichain s in furnishing a mega-multichain ecosystem, seamlessly linking all chains without bias toward smart contract technology. This comprehensive strategy holds the potential to tackle the blockchain trilemma head-on, alleviating the challenges of ...

Aug 29, 2023 at 08:26 // Price Author Coin Idol Five cryptocurrencies showing the biggest price fall of the week are Pepe, THORChain, Hedera, KuCoin Token, Rocket Pool. Cryptocurrency Analysis by Coinidol.com. The coins listed below have significantly underperformed this week. Bitcoin and the major alt coins are trying to recover as they struggle to break through the next resistance level. Let us take a look at the cryptocurrencies that are still in a downtrend. Pepe Pepe (PEPE) is declining and has fallen far below the moving average lines. The decl...

GameFi and Play-to-earn NFTs saw the worst performance; a $1k investment in January 2022 is now worth only $90. Metaverse-based NFTs saw a slightly better performance. Art NFTs outperformed Blue Chips and Metaverse NFTs. In a recent tweet, Nansen, a prominent blockchain data analytic firm, highlighted the performance of art NFTs. It revealed that since January 2022, art NFTs have been the standout performers among various NFT sectors. The firm added that this NFT category surpassed even Blue Chips and Metaverse NFTs. However, despite their performance, Nansen noted that art NFTs experienced their fair share of market turbulence. In a series of tweets, Nansen elaborated on the performance of different NFT sectors. Since January 2022, art NFTs have been the best-performing ETH NFT sector They've done better than every other type of NFT, including Blue Chips and Metaverse NFTs, remember them? But they're down against the dollar… Let's take ...

The crypto market has experienced a period of continuous decline lately. Amid small rebounds and significant drops, investors have expressed concerns about their investments. Even meme coins like Dogecoin [DOGE] and Shiba Inu [SHIB] have followed the general market movement. As the community anticipated improvements, it’s likely that the trend will continue through September. Dogecoin has dropped by 22.1% throughout the month of August. The meme coin’s yearly gains are also at a dainty 1%. At press time, the OG meme coin was trading for $0.062530. Earlier today, the asset rose to a high of $0.063634. According to data from Changelly, the asset will likely linger around the same level. As per the Changelly blog, Dogecoin is projected to experience an increase of more than 2% and conclude August at $0.064078. According to crypto experts on the platform, the lowest anticipated trading price could be $0.0540. The highest might reach $0.0643 over the course of the month. On...

Stablecoins processed over six trillion-dollar transactions in 2022. The figure outpaced traditional payment companies. Bloomberg projects a 3596% growth in stablecoin with PayPal stablecoin adoption. Recently, Jamie Coutts, a crypto market analyst at Bloomberg Intelligence, spotlighted the place of stablecoin in processing trillion-dollar transactions. According to Coutts, stable coins made significant strides in the digital money evolution. The analyst noted that the crypto coins surpassed established players like Mastercard and PayPal. In particular, the analyst revealed that stable coins on various Layer-1 crypto networks transacted $6.87 trillion in 2022. According to him, the figure outpaced the stride of traditional payment companies. Stablecoin Payments Overtook Mastercard in 2022 in '22 stables on various L1s transacted $6.87T, surpassing trad payment co's. #Bitcoin did even more than #visa This year volumes have plummeted 80% w/...

Robinhood has been identified as the third-largest Bitcoin holder, possessing a wallet valued at over $3 billion, trailing only behind Binance and Bitfinex. Recent investigations from several sources have revealed that Robinhood, the popular stock and crypto trading platform, holds a Bitcoin wallet containing more than $3 billion worth of BTC. This revelation establishes the firm as the third-largest Bitcoin custodian, trailing only behind leading exchanges, Binance and Bitfinex. These findings have been verified and authenticated by blockchain analytics firm Arkham Intelligence. BREAKING 3RD LARGEST #BITCOIN WHALE WITH $3 BILLION IN BTC REVEALED TO BE ROBINHOOD pic.twitter.com/TSgKoqLU4O — Ash Crypto (@Ashcryptoreal) August 28, 2023 Decrypting Robinhood’s mystery Bitcoin wallet For the past week, the wallet in question has been a subject of speculation within the cryptocurrency community. Market analysts and crypto enthusiasts previously hypothesized that its ownership ...

The S&P 500 index’s [ SPX ] performance has not been impressive lately. A recent Analysis by Bloomberg pointed out that 19 trading sessions have passed so far in August without a single consecutive gain registered by the benchmark stock index. If the SPX wraps up August this way, the index will create a new 22-year bearish record. Specifically, the report noted, “ It will be the first month without two consecutive up days since May 2010 in the aftermath of the global financial crisis. “ Source: Bloomberg Also Read: MicroStrategy’s Balance Sheet Comprises of ~75% Bitcoin By the end of July, the SPX was up almost 30% from its October lows. Nevertheless, the latest struggle is a reflection of the lack of conviction among investors after the sharp AI rally. Furthermore, investors initially believed that the Federal Reserve would shift to cutting interest rates once the economy cooled. However, with no respite in sight, market conditions have worsened. Acc...

Earnings on the decentralized social platform Friend.tech plummeted in tandem with its number of daily users. According to the latest data from DeFiLlama, Friend.tech’s earnings started to fall, with more than 70% lower fees by the end of the week compared to its peak. The number of daily added users also fell, marking an almost 80% decrease. Friend.tech fees | Source: DefiLlama At the height of its popularity, Friend.tech was the highest revenue-generating entity in decentralized finance (defi). It gained as many as 100,000 users in a few days. A variety of sports, business, and social media personalities, including Grayson Allen, Garry Tan, Cobie, and HsakaTrades, were among the first creators on the platform. You might also like: What is Friend.tech, social platform earning over $1m in fees While the social media project created ripples in the digital asset trading community earlier in the month, some analysts suggest the reduced fees and revenues may be a sign it is...

Pepe Coin’s price plunged 20% in one week as substantial token transfers by the developer team to exchanges ignited fears of rug-pull , shaking investor confidence. Pepe Coin, once a celebrated deflationary meme coin, has found itself at the center of investor anxiety. The developer team’s sudden movement of an immense number of coins to centralized exchanges has ignited fears of a potential rug-pull scenario. This development could have devastating consequences. Quick thread on what just happened with PEPE. 1 hour ago the official $PEPE team wallet (pepecexwallet.eth) transfered 62% of their PEPE (16 trillion) to Binance. This was worth about $15.5 million. Then it appears the PEPE was sent back out of Binance in four transactions 1/4 — x-o (@ethx_o) August 24, 2023 Etherscan data reveals a massive transfer of 16 trillion Pepe Coin tokens, valued at a staggering $15.08 million, to four major cryptocurrency exchanges. This event triggered an immediate and sharp ...

FTX has announced a cybersecurity breach involving its bankruptcy case claims agent, Kroll, exposing limited, non-sensitive customer data of specific claimants. On Aug. 25, the struggling crypto exchange used the X platform to notify customers, creditors, and the public about the data breach . (1/3) FTX learned that Kroll, the claims agent in the bankruptcy , experienced a cybersecurity incident that compromised non-sensitive customer data of certain claimants in the pending bankruptcy case. — FTX (@FTX_Official) August 25, 2023 The exposure of non-sensitive customer data is linked to the ongoing bankruptcy case. FTX has stated that Kroll is currently informing the affected individuals about protective measures they can take. FTX clarified that its account passwords, systems, and funds remain secure, stating, “The incident occurred at Kroll, and Kroll is notifying affected individuals directly with measures that customers can take to protect themselves. FTX accoun...

Following the recent departure of one, two more attorneys withdrew from representing the US SEC in its lawsuit against Ripple over XRP offerings. Aug. 24 court filings reveal that attorneys Richard Best and Robert MacDonald Moye requested to withdraw from the SEC vs. Ripple trial. The former had the motion immediately granted due to extended medical leave, while the latter is still waiting for a decision from Judge Analisa Torres. This filing follows this week’s motion for the dismissal of attorney Pascale Guerrier from the case as well, a request that the judge quickly granted. The crypto community on Twitter suggests that lawyers are jumping ship in anticipation of the regulator losing the lawsuit . SEC has lawyers quitting before the ship sinks completely — XRPcryptowolf (@XRPcryptowolf) August 23, 2023 Still, there is no solid indication that those suggestions have any foundation. John E. Deaton — founder of the crypto-centric legal news outlet Crypto Law — wro...

Trading at $21.74 on Thursday, the smart contracts token has seen $412 million in trading volume rush in while the market cap ticks slightly up to $8.8 billion. advertisement Several adoption developments involving Solana Pay could be the cause of this uptick. However, the crypto market has generally been trending north on Thursday led by Bitcoin reclaiming $26,000 and lifting to touch $26,800. SOL Price Nurturing Rebound Above $20 Solana is on track to a significant recovery following the dip to $20. Bulls are ready to push the current price of $21.74 per token to the psychological resistance between $30 and $32, however, they must first deal with the immediate hurdle at $21.98, highlighted by the 100-day Exponential Moving Average (EMA) (blue). This building bullish momentum should also be strong enough to disperse the seller congestion near $23 which is a confluence resistance created by the 50-day EMA (red) and the 200-day EMA (purple), otherwise,...

Sam Bankman-Fried’s attorneys claim he is living under horrid conditions and is not allowed access to his medications. “There is no way for him to effectively prepare for his defense,” said Christian Everdell, Bankman-Fried’s attorney. The former CEO of FTX was denied bail last month for witness tampering. Sam Bankman Fried (SBF) has made headlines yet again with a new set of legal tantrums. The disgraced tech billionaire’s attorneys are now claiming that he is surviving on bread, water, peanut butter, and what they call “flesh diet.” Advocates have filed a formal complaint with the magistrate alleging that SBF’s dietary preferences are not being considered. They have added that his disrupted diet has rendered him unable to prepare for trial. The lawyers have also asked the court to grant SBF access to computers, a proper diet, and medication to help him prepare for his upcoming trial on October 3. Bankman-Fried’s legal team raised grievances about h...

Bitcoin developers responded to a lawsuit initiated by self -proclaimed Bitcoin creator Craig Wright, often mocked with the nickname “faketoshi.” On Aug. 21, Bitcoin Legal Defense Fund (BLDF) filed a preliminary issue application with the UK High Court against Wright’s firm Tulip Trading. The firm in question sued 12 Bitcoin developers in an attempt to force them to introduce a backdoor in the Bitcoin software to give it access to 111,000 BTC — or nearly $2,9 billion — that it claims to have lost in a hack. BDLF is a non-profit foundation reportedly supporting Bitcoin developers and protecting the Bitcoin (BTC) ecosystem by providing legal defense counsel, crafting litigation strategies, and paying legal bills. The organization’s first action was coordinating the defense of a dozen Bitcoin developers sued by Wright’s Tulip Trading Ltd. The foundation includes Twitter (now X) and Block founder Jack Dorsey among its ranks. Wright’s company ins...