U.S. spot bitcoin exchange-traded funds (ETFs) experienced their fifth consecutive day of outflows on Thursday, losing 9.88 million. Grayscale’s Bitcoin Trust (GBTC) led the decline with a million reduction, followed closely by Fidelity’s (FBTC) million loss. U.S. Bitcoin ETFs Experience Sustained Outflows The 11 spot bitcoin ETFs reported .16 billion in trade volume […]
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A Fifth of Gen Z, Millennials Own Crypto; Over 60% Have Tried at Least One of Six Financial Hacks
Approximately a fifth of America’s Gen Z and Millennials own cryptocurrency but only 20% own real estate, the latest Policygenius 2024 Financial Planning Survey has found. The survey report asserts that Baby Boomers have “benefited greatly from housing wealth,” which now accounts for nearly half of their wealth. Boomers Least Interested in NFTs According to […]
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Fifth Largest Bitcoin Whale Moves $6 Billion In BTC, Here’s The Destination
The crypto community’s attention has been drawn to a Bitcoin whale who recently moved a huge portion of their BTC holdings across different wallets. This action has sparked the curiosity of those in the community about the reason for these transactions.
Bitcoin Whale Moves Billion In BTC
Blockchain analysis platform Arkham Intelligence first brought this occurrence to the community’s attention when it mentioned in an X (formerly Twitter) post that the Bitcoin address (37XuVSE) had moved over billion in BTC to three new addresses.
As part of the transactions, .03 billion worth of BTC was sent to one of these addresses (bc1q8yj), while the two other addresses (bc1q6m5 and bc1q592) received 1.46 million and 8.40 million worth of BTC respectively. Arkham added that one of the wallets (bc1q592) has since then proceeded to transfer the received funds to another wallet.
Notably, the wallet which moved billion in BTC was before now the fifth richest Bitcoin address having held over 94,500 BTC in its wallet. As of now, it still holds 1.31 BTC in the wallet in question. Interestingly, before now, this address was dormant as it had not moved any of this BTC which it received since 2019.
Transactions of such magnitude are always sure to cause a stir in the crypto community, considering the impact such whales can have on the market. Usually, a move like this can cause community members to speculate that the whale may be looking to offload their tokens and take profits. However, the fact that these transactions weren’t made to exchange-linked wallets has quelled such speculations.
Another BTC Whale On The Rise
Bitcoinist recently reported on BlackRock’s Bitcoin wallet, which has continued to accumulate Bitcoin at an astonishing rate due to the impressive demand for its iShares Bitcoin Trust (IBIT). Despite just launching this ETF in mid-January 2024, BlackRock now holds 243,126 BTC for the fund.
BlackRock’s BTC holdings has seen it rise to becoming one of the largest corporate BTC holders, only behind centralized exchanges Binance, Bitfinex, and Coinbase and fellow Bitcoin ETF issuer Grayscale. A sustained demand for the IBIT ETF could however see BlackRock surpass these entities at some point.
That is also something that could reflect positively on Bitcoin’s price seeing as how instituitional demand for the flagship crypto has helped propel it to new highs.
At the time of writing, Bitcoin is trading at around ,500, up in the last 24 hours according to data from CoinMarketCap.
Frog-Inspired Meme Token PEPE Drops to Fifth Place Amidst Dog-Centric Competition
While the meme coin pepe (PEPE) has risen by 29% in the last month and boasts a significant increase since its inception, a six-month review reveals a decline of over 8% in its value. Furthermore, despite its previous standing as the third-largest meme token in terms of market capitalization, PEPE has now slipped to the fifth position.
PEPE’s Crypto Journey: Uncertainty Looms as Market Volatility Prevails
The meme token featuring the beloved character Pepe the Frog, namely pepe (PEPE), currently holds the fifth spot in the meme token hierarchy by market capitalization. As of Dec. 24, 2023, corgiai (CORGIAI) and bonk (BONK) have ascended to the fourth and third positions, respectively.
CORGIAI boasts a market valuation of approximately 9 million, while PEPE’s stands at 2 million. All four of the leading meme coins share a canine theme, leaving the frog-inspired PEPE seemingly overshadowed by newer and more popular competitors.
PEPE faced significant challenges in August when former team members faced accusations of misappropriating million in coins. The project’s chief developer made a solemn commitment to rebuild trust and increase PEPE’s decentralization efforts.
However, the initial fallout from the incident had a detrimental impact on PEPE’s price. Despite this setback, it’s worth noting that PEPE has still witnessed a significant increase of over 2,400% since reaching its all-time low in April 2023.
Nevertheless, it has experienced a decline of more than 67% from its peak recorded on May 5, 2023. Moreover, there are currently 420 trillion PEPE tokens in circulation.
Within this massive pool of meme tokens, a total of 153,679 unique addresses are home to PEPE holdings. It’s crucial to highlight that the top ten holders collectively control a substantial 42.89% of the circulating supply, indicating a considerable concentration of ownership.
This limited distribution trend continues as the top 20 wallets account for 51.16% of the total supply, the top 50 holders commandeer 64.28% of PEPE’s circulating coins, and the top 100 wallets possess over 70% of the circulating PEPE tokens. Remarkably, the leading wallet alone wields a significant influence, holding 22.58% of the entire PEPE supply.
Throughout its existence, PEPE has borne witness to 2,010,596 transactions, as per etherscan.io’s data. Currently ranked at 112 in terms of market capitalization, PEPE has exhibited a 24-hour trading volume of 2.75 million.
As of Dec. 24, 2023, the most bustling trading platform for PEPE swaps resides on the MEXC exchange, with USDT emerging as the favored trading pair for PEPE. Additionally, PEPE has engaged in exchanges with various currency pairs, including the Turkish lira, the U.S. dollar, trueusd (TUSD), and the euro.
As the journey of PEPE continues to unfold, one thing remains abundantly clear: the crypto market is a realm of unparalleled unpredictability. Despite its resilience and moments of glory, the future holds no guarantees, and PEPE’s fate hangs in the balance.
In this ever-evolving landscape, meme coins can rise to prominence, only to fade into obscurity just as swiftly. The story of PEPE is a testament to the ever-shifting tides of the digital currency world, where only time will reveal its ultimate destiny.
What do you think about PEPE’s overall market performance and its struggles? Share your thoughts and opinions about this subject in the comments section below.
FDUSD Rockets to $1.6B Market Cap, Becoming Fifth Largest Fiat-Pegged Crypto Amid Binance Concentration
In the fortnight since Dec. 2, 2023, the stablecoin asset first digital usd (FDUSD) experienced a notable expansion, increasing its supply by 690 million coins. As of Dec. 17, 2023, this surge has elevated its market capitalization to a significant .61 billion. This period witnessed the U.S.-dollar-pegged token’s significant growth of 74.92%.
FDUSD Supply Swells by 74% in 2 Weeks
The stablecoin FDUSD has experienced significant growth in the last two weeks, ascending to the position of the fifth-largest fiat-pegged cryptocurrency in the market. A significant portion of FDUSD’s market activity and onchain movements are concentrated on the centralized crypto exchange Binance.
With a market capitalization of .61 billion, FDUSD ranks as the 46th largest among over 11,500 digital currencies. FDUSD’s etherscan contract indicates that as of December 17, FDUSD’s supply reached 1.611 billion, up 74.92% from 921 million FDUSD on December 2.
In the last 24 hours, FDUSD has seen a substantial .2 billion in global trade volume, primarily driven by USDT and BTC pairs on Binance. In fact, an overwhelming 90.45% of FDUSD’s trading volume in this period originates from these two pairings on Binance.
Additional exchanges like Gate.io, Bingx, Cryptology, and Tokocrypto also feature FDUSD pairs, albeit on a smaller scale. FDUSD’s supply distribution is notably concentrated compared to other leading stablecoins, with only 255 wallets holding FDUSD.
Despite a high trade volume and numerous transactions, FDUSD’s activity is predominantly off-chain, reflected in its modest count of 1,771 transactions. The top three wallets holding FDUSD are under Binance’s control, with the largest wallet containing 1.533 billion FDUSD, amounting to 95.1450% of the total supply.
Furthermore, the second wallet utilized by Binance holds 4.3751% of the FDUSD supply, indicating Binance’s significant control over FDUSD. Binance, the largest cryptocurrency exchange by trade volume, also possesses a substantial portion of TUSD, with 2.17 billion coins out of TUSD’s circulating 2.43 billion.
This control extends to 21.54% of the tether (USDT) supply, and Binance dominates the fourth and fifth largest stablecoins. Beyond this, Binance maintains a majority hold over the 1.2 billion BUSD stablecoins in circulation, commanding the two largest BUSD addresses.
What do you think about the stablecoin FDUSD’s growth in the past two weeks? Share your thoughts and opinions about this subject in the comments section below.
BUSD Falls to Fifth Among Stablecoin Leaders; TUSD and FDUSD Supplies Surge in a 3-Day Span
The stablecoin landscape witnessed a shifting dynamic this week, with the once fourth-largest stablecoin, binance usd (BUSD), relinquishing its position. This change arises from the crypto asset’s supply dwindling below the 3 billion mark, while in a surprising twist, the stablecoin trueusd (TUSD) experienced a surge in supply from 2.9 billion to 3.438 billion in three days. These developments unfolded shortly after Binance’s announcement of a gradual phase-out plan for the dollar-pegged token BUSD.
BUSD Supply Sinks Below the 3 Billion Threshold
Binance usd, abbreviated as BUSD, has fallen below the 3 billion mark, as data from etherscan on September 3, 2023, reveals a decrease in supply to 2.844 billion BUSD. The once-prominent stablecoin issued by Paxos has ceded its standing as the fourth-largest stablecoin, now ranking fifth among the top ten dollar-pegged coins by market valuation. Binance declared three days ago that it would gradually phase out BUSD, discontinuing trading pairs for the stablecoin due to U.S. regulators instructing Paxos to halt token issuance.
While BUSD’s supply contracted, two other stablecoins, TUSD and FDUSD, have witnessed growth over the past 72 hours. Notably, nine out of the top ten stablecoins recorded supply reductions last month, with FDUSD expanding by over 40%. Although TUSD’s supply contracted by 3.8% in August, it surged from 2.9 billion to the current 3.438 billion TUSD between August 31 and September 3, marking an 18.55% increase over three days. Nansen analytics approximates that Binance holds around 2.782 billion TUSD.
Furthermore, the supply of the stablecoin first digital usd (FDUSD) was 327 million on August 31, 2023; as per etherscan data, the supply has now grown to 382,548,919 FDUSD. Etherscan statistics from September 3 indicate that Binance controls approximately 99.4397% of the FDUSD supply. Even the top six wallets, collectively representing 84.2% of the entire BUSD supply, are categorized as Binance-controlled wallets. Binance commands a significant portion of all three aforementioned stablecoins – BUSD, TUSD, and FDUSD.
The reserves of these three stablecoins, held within the crypto exchange, amass a value of .664 billion. Additionally, Nansen analytics reveal that out of the total existing 82.89 billion tether (USDT) circulating, Binance holds 18.10 billion USDT. This implies that Binance, the leading crypto asset in trade volume, controls 21.83% of the circulating tether supply. Among these stablecoins, the collective stash constitutes .764 billion of Binance’s .04 billion crypto reserves, signifying that the four dollar-pegged tokens constitute 44.18% of the trading platform’s entire asset balance.
What do you think about BUSD’s supply dropping below 3 billion while two other stablecoins saw their supplies swell? Share your thoughts and opinions about this subject in the comments section below.
Former FTX Co-CEO Ryan Salame to Plead the Fifth, Declares Himself ‘Unavailable as a Witness’
U.S. federal prosecutors have unveiled court documents indicating that ex-FTX CEO Sam Bankman-Fried (SBF) is entangled in a web of allegations, with illegal political campaign financing being a significant charge. In light of these allegations against SBF, Ryan Salame, FTX Digital Markets’ former co-CEO, has expressed his intent to plead the Fifth if summoned, thus becoming “unavailable as a witness.”
Former FTX Co-CEO Ryan Salame to Plead the Fifth
Merely a week prior, insiders hinted at Ryan Salame, ex-co-CEO of FTX Digital Markets, navigating a plea agreement. These sources claimed that part of the deal might involve Salame parting with his private jet. Yet, with the re-arrest of SBF and new campaign financing allegations surfacing, Salame’s potential contribution to the case seems limited.
The authorities have pushed for the inclusion of specific evidence during the trial, while sidelining other bits presented by SBF’s defense. The evidence in question encompasses SBF’s supposed bank deception, unlawful campaign contributions, international bribery, crypto price manipulation, and the implementation of auto-delete protocols within his firms.
Furthermore, the prosecution is attempting to remove certain defense-related evidence and arguments, deeming them either irrelevant or unjustly biased. These include claims about the victims’ lack of due diligence, the negative impact of the bankruptcy process on clients, the rapidity of the charges indicating ulterior motives, the idea that virtuous deeds signify innocence, and details about potential penalties. The government’s stance is that such evidence might muddle the issues, misguide the jury, lead to unnecessary delays, or provoke jury nullification.
In a pivotal move, the authorities aim to present alleged remarks by the former FTX co-CEO Ryan Salame, now an “unavailable witness,” about his supposed pact with SBF to illicitly fund political endeavors. Salame’s legal counsel has indicated that Salame would assert his Fifth Amendment right against self-incrimination if asked to testify. However, the prosecution posits that Salame’s remarks on being a conduit for donations remain valid under the exception to the hearsay rule in Rule 804(b)(3), given they are statements against his interests.
Prosecutors emphasize the credibility of Salame’s alleged comments, pointing to the trail of corporate funds channeled through his accounts for political contributions. Despite his absence, the government maintains that these purported remarks can be treated as statements against Salame’s legal interests. Reports have recurrently suggested that Salame funneled a whopping million to GOP candidates before FTX’s unraveling.
What do you think about Salame being unavailable to testify in the case against SBF? Share your thoughts and opinions about this subject in the comments section below.
CryptoSlots Celebrates Fifth Birthday with New Bonuses, a Revamped Cashback System, and World-Class VIP Treatment
PRESS RELEASE. June 12, 2023 — It’s time to pop the champagne and raise a toast, because CryptoSlots, one of the premier online casinos for crypto enthusiasts, has just turned 5 years old. Ever since its launch in 2018, CryptoSlots has been a mainstay for iGaming enthusiasts who prioritize the safety and anonymity of cryptocurrencies while spinning unique Provably Fair slots for excellent payouts.
To celebrate the occasion, CryptoSlots has been pulling out all the stops to make sure this year is one to remember by offering all players special tokens for its signature Jackpot Trigger slot. These tokens are normally only acquired by playing slots on the site, but everyone could receive this premium currency by making deposits in May while using the birthday bonus codes.
Even in the midst of a celebration CryptoSlots is still rolling out brand new content. Starting with the release of Chinatown High Limit slot, the team has recently launched the game Lucky Ducts amid much fanfare, with four match and cash bonuses up for grabs. Subsequently their newest title, Bank Bust made its debut with a set of promotions of its own.
The CryptoSlots team has also unveiled a brand new cashback system, where players can earn up to 7% of their net loss from the previous week, compared to the previous amount of only 3%. And what’s more — this bonus only needs to be wagered one single time before players can withdraw their cash.
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A variety of popular currencies are fully supported for both deposits and withdrawals, including BTC, ETH, LTC, XMR, USDT, USDC, and more. For players trying to break into the world of iGaming, CryptoSlots has developed a set of guides on various aspects of using crypto, such as how to buy and sell currencies on various exchanges and how to set up a crypto wallet.
Whether you’re a seasoned veteran or just starting out with iGaming, this is an ideal time to try your hand and see if CryptoSlots is the casino you’ve been looking for.
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This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.
Bitcoin Miners Contend With Fifth Network Difficulty Increase of 2023
Bitcoin miners are contending with the fifth network difficulty increase since February 24, 2023, following a 1.72% rise on April 20 at block height 786,240. The network’s difficulty now stands at 48.71 trillion, marking a 22.62% increase over the last 55 days since block height 778,176.
Bitcoin’s Difficulty Has Risen More Than 22% Since Block Height 778,176
In less than two months, Bitcoin’s difficulty surged by over 22% and reached an all-time high on Thursday, April 20. The current difficulty of 48.71 trillion implies an exceptionally high average hash rate necessary for mining a new block. Specifically, a miner would need an average hashrate of 48.71 trillion hashes per second to stand a chance of mining a BTC block and earning the associated rewards and transaction fees.
As of now, the network’s hashrate hovers around 352.99 exahash per second (EH/s). According to coinwarz.com data, the hashrate peaked at 440.80 EH/s on April 18 at block height 786,013. At present, with a hashrate of 352.99 EH/s, bitcoin mining pool Foundry USA dominates with 116.49 EH/s or 32.96% of the global hashrate. The top five bitcoin mining pool rankings include Antpool (79.74 EH/s), F2pool (50.82 EH/s), Binance Pool (36.74 EH/s), and Viabtc (28.93 EH/s).
In comparison to 2022, miners have had a better year in terms of BTC prices in 2023. However, BTC dipped below the K mark on April 20 after nearing K six days earlier on April 14. Over the past week, BTC has lost 3.8% in value but still holds a monthly gain of 3%. Lower BTC prices strain bitcoin miners, and the consecutive increases in difficulty don’t help either. The next anticipated difficulty adjustment for the Bitcoin network falls around May 4, 2023.
Current data indicates that block intervals have slowed beyond the average ten-minute duration, with times ranging from ten minutes and 36 seconds to eleven minutes and 23 seconds per block. Based on block intervals and existing difficulty levels, estimates predict the next adjustment could be a downward change. Currently, over 1,900 blocks remain to be discovered before the next Bitcoin network difficulty adjustment, and more than 53,000 blocks stand between now and the next halving event scheduled for around April 20, 2024.
What are your thoughts on the continuous rise in Bitcoin’s network difficulty and its impact on the mining industry? Do you think we will see more miners dropping out, or will new miners join the race to keep up with the increasing difficulty? Share your insights in the comments below.
Biggest Movers: SOL Rebounds, TRX up for Fifth Straight Session
Solana was one of Tuesday’s notable movers, as the token rebounded from losses to start the week. The move comes despite U.S. inflation figures missing expectations. Consumer prices came in at 6.4%, higher than the 6.2% many had forecasted. Tron rose for a fifth consecutive session on Tuesday.
Solana (SOL)
Solana (SOL) rose by as much as 5% on Tuesday, as prices climbed back above a recent support level.
SOL/USD surged to an intraday high of .70 earlier in today’s session, which comes a day after trading at a bottom of .87.
Today’s move saw the token reenter its .00 price floor, after a failed breakout attempt to start the week.
Recent momentum in solana has been largely bearish, and comes following a downwards crossover of the 10-day (red), and 25-day (blue) moving averages.
However, bulls have moved to halt any further sell-offs, as the relative strength index (RSI) maintained a floor at 42.00
As of writing, the index is tracking at 47.46, with the 50.00 mark the next visible point of resistance.
Tron (TRX)
Tron (TRX) climbed higher for a fifth straight session on Tuesday, breaking out of a recent ceiling in the process.
Following a low of .06414 to start the week, TRX/USD raced to an intraday high of .06638 earlier in the day.
Tuesday’s surge pushed tron to its highest point since last Thursday, which comes after prices broke out of a ceiling at .06565.
Looking at the chart, overall sentiment in TRX has largely been bullish in recent weeks, with moving averages trending upwards.
This may be tested in upcoming days, with the RSI, which is currently tracking at 61.53, edging close to a ceiling at 63.00.
Previous bulls could look to secure gains as we approach this point, in turn giving way for sellers to re-enter the market.
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What will the Federal Reserve do, with inflation slowing less than expected? Let us know your thoughts in the comments.