Tag Archives: AA News

According to data provided by Glassnode, long-term holders currently hold almost 14.5M bitcoin (BTC). LTHs have been on a gradual accumulation spree in the past year and a half despite the prolonged bear market.  Blockchain analytics firm CryptoQuant has recently revealed that institutional investors (hedge funds, pension funds, commercial banks, insurance companies, and more) have also shown an increasing appetite for holding the primary cryptocurrency in the long run. So...

The SEC’s subsequent enforcement actions, first against Ripple and XRP, followed by Binance and Coinbase, have contributed to the sufferings of other crypto exchanges from a liquidity standpoint. There has been a major shift in the CEX landscape that has already faced challenges following the FTX implosion. A new report suggested that a slow recovery in liquidity appears to have haunted the second quarter. Kraken: An Outlier The blockchain data provider Kaiko’s second...

Ordinals developers are pioneering ways to make reduce blockchain bloat caused by Bitcoin NFTs, potentially reducing their creation costs by 90%.  The latest among these is BRC69 – a new standard proposed by Ordinals launchpad platform Luminex to “optimize the costs of inscribing on Bitcoin using the Ordinals protocol.” The BRC69 Standard According to Luminex’s GitHub proposal, the new standard can not only reduce inscription costs, but also unlocks new on-chain features,...

Justin Bieber might be iconic on stage, but his investment strategy, at least in terms of NFTs, certainly missed the mark. The famous Canadian pop star paid $1.3 million for a Bored Ape NFT last year, which is now worth only around $59,000. Foraying the hyped NFT space during the digital asset bull run seemed like a lucrative and exciting addition to many celebrities’ investment portfolios. However, many who sang the praises of these non-fungible tokens have not managed to...

A new report by the cryptocurrency exchange Bitfinex revealed that the latest on-chain metrics and investor behavior suggest the crypto market may be ready for the next bull run. In the weekly edition of the Bitfinex Alpha report, the crypto exchange noted that Bitcoin’s Spent Output Profit Ratio (SOPR) and Net Unrealized Profit and Loss (NUPL) indicators have moved into the green, showing that almost all BTC trades have been profitable since the leading asset breached the...

Bitcoin Depot – a US-based Bitcoin ATM provider – announced it will start trading on Nasdaq on July 3 after partnering with the fintech company GSR II Meteora Acquisition Corp.  Previous reports revealed that the agreement between the two entities is worth $885 million.  ‘BTM’ Pops up on Nasdaq The partners announced the finalization of the special purpose acquisition company (SPAC) merger. The combined organization will be renamed Bitcoin Depot Inc. and will be run by the...

The Monetary Authority of Singapore (MAS) will reportedly insist that cryptocurrency firms keep clients’ assets in a designated trust by the end of 2023.  The step comes several months after the infamous meltdown of FTX, which triggered colossal investor losses. Numerous individuals and entities have blamed the exchange for comingling user funds and scamming customers.  The New Requirements As reported by Bloomberg, the Singaporean regulator will enforce the obligation to...

Last week, Coinbase filed to dismiss the charges brought against it by the SEC. Motivating its approach, the exchange accused the agency of overreach, stating that crypto assets may not even come under their purview. The leading US crypto exchange also accused the SEC of ignoring prior approvals given for the sale of some of the digital assets named in its lawsuit. Emboldened by Coinbase’s move, Bittrex has decided to follow suit. Lawsuits and Bankruptcies Although Bittrex is...

Nonfungible tokens (NFTs) have not recovered anywhere near the levels that crypto markets have. Even the largest collections in the industry, such as Yuga Labs’ Bored Ape Yacht Club, are heavily discounted. On July 3, Reflexivity Research co-founder Will Clemente revealed that BAYC was down 90% from its all-time high. Floor prices for the Ape-themed NFTs have slumped over the past few days, falling 23% over the last week. According to NFT marketplace OpenSea, the floor price...

NFTs continue to attract not only more users but also capture the eyes of fraudulent entities. Web3 threat actors have set their sights on digital collectibles, with millions of funds being lost through different scams and attacks. A new report suggested that such thefts in the NFT space declined in June but remain rampant. NFT Theft: June Edition Shedding light into the NFT crime landscape for the month, PeckShield’s analysis revealed that fraudsters stole approximately...