Author: Wahid Pessarlay
Market data shows Fidelity’s Wise Origin Bitcoin Fund (FBTC) registered the largest inflow on May 13, with the broader exchange-traded fund (ETF) market seeing $66 million in positive flow despite multiple products witnessing zero flows for the day. According to Farside Investors, Bitcoin (BTC) ETFs saw a combined net inflow of $66 million after consecutive days of net outflows, with Fidelity’s FBTC recording the largest inflow on May 13. FBTC logged an inflow of $38.6 million, one of the few ETFs not to record zero flows that day. Bitwise Bitcoin ETF (BITB) followed with an inflow of $20.3 million, while…
The recent Pepe (PEPE) price rally has triggered an impressive increase in the memecoin’s whale activity. PEPE is up by 21% in the past 24 hours and is trading at $0.0000102 at the time of writing. The asset reached an all-time high of $0.0000109 at 16:40 UTC on March 13. Pepe currently has a total market cap of $4.3 billion with a daily trading volume of $2.15 billion. PEPE price, whale activity, exchange activity and RSI – May 14 | Source: Santiment According to data provided by Santiment, whale transactions consisting of at least $100,000 worth of PEPE surged by…
Bitcoin (BTC) has gained bullish momentum amid declining whale activity while an analyst expects a downfall to the $52,000 mark could be possible. BTC is up by 3.5% in the past 24 hours and is trading at $63,170 at the time of writing. The asset’s market cap surged to $1.24 trillion with a daily trading volume of $21.5 billion. BTC price, RSI and whale activity – May 13 | Source: Santiment According to data provided by Santiment, whale transactions consisting of at least $100,000 worth of BTC have been consistently declining over the past four days — falling from 9,408…
The global cryptocurrency market is witnessing correction with some investors shifting focus to stablecoins. According to data provided by CoinGecko, the total crypto market cap slipped by 04% in the past 24 hours — falling from $2.38 trillion to $2.34. The global daily trading volume, however, increased by 27%, surpassing the $52 billion mark. Global crypto market cap – May 13 | Source: CoinGecko Data shows that stablecoins are dominating the total trading volume with USDT ranking first — with over $34.5 billion in daily trading volume. Per CoinGecko, the largest stablecoin has a total market cap of $110 billion…
Authorities in China have arrested six individuals suspected of engaging in illicit cryptocurrency transactions amounting to 2.94 billion yuan — worth roughly $300 million. According to a May 10 report by local media outlet Chinanews, the suspects were taken into custody by The Public Security Bureau of Panshi in the Northeast Chinese province of Jilin. The authorities claim the individuals operated an underground bank, utilizing cryptocurrencies to exchange Chinese yuan and South Korean won. The illegal operation, which authorities claim was based in South Korea, allegedly involved six individuals. According to police reports, the suspects deceived unsuspecting investors during the…
Today’s edition of the weekly recap: Donald Trump does an about-face on cryptocurrency; the NFT market sees a dip in trade volume; and exchange-traded funds (ETFs) witness a resurgence of inflows. Trump panders to the cryptocurrency community The GOP’s 2024 presidential candidate openly declared support for the crypto industry. In a speech, the quadruple-indicted Trump urged his supporters to donate digital assets to his campaign. Trump is using campaign donations to pay mounting legal expenses. Mark Cuban, billionaire and minority owner of the Dallas Mavericks, argued on May 10 that regulators’ tough stance on the crypto industry isn’t doing President…
Last week, volatility in the cryptocurrency market resulted in a staggering loss of $100 billion. This decline was reflected in the global cryptocurrency market cap, which decreased by 4% to $2.36 trillion at the time of writing. Here are the top cryptocurrencies to watch over the next several days. Ethereum drops below $3,000 Ethereum (ETH), the second-largest cryptocurrency, saw its value fall below the $3,000 threshold. ETH, BOME and HNT prices – May 12 | Source: Santiment Ethereum attempted a last-minute rally in the latter part of the week, but the strategy faltered under persistent bearish pressure throughout the week.…
The native token of the now-defunct Celsius Network, CEL, has recorded an impressive price surge following its massive token burn. On-chain data shows that Celsius burned over 94% of its total supply on April 30 — plunging from 695.65 million CEL to 40.55 million CEL. The tokens were sent to a null address, marking the third-largest transaction in the Celsius history. CEL price, RSI, open interest and funding rate – May 9 | Source: Santiment Following the burn transaction, CEL gained 360% over the past week. The asset is up by 67% in the past 24 hours and is trading…
NEAR Protocol’s X account with over 1.9 million followers has been posting encrypted messages over the past few hours, sending a dark vibe through the community. The first encrypted message on NEAR Protocol’s X page was posted at 18:18 UTC on May 8. The message which looks similar to Morse code says “Darkness is coming” when decoded. Source: MorseCode.World Despite the dark vibe of the message, the marketing and events lead at NEAR Foundation, Yadira Blocker, replied to the encrypted audio with “Something is cooking.” Something is cooking 🧑🍳— Yadira (@YadiraBlocker) May 8, 2024 In another X post, Blocker said…
ChatGPT’s security audit shows major centralization flaws in the Tomwifhat (TWIF) — a memecoin on the BNB Smart Chain (BSC) and Ethereum smart contract. With the rise of dogwifhat (WIF) in late December 2023, the number of fraudulent memecoins with the hat theme has also increased. According to the ChatGPT analysis, the owner of the TWIF smart contract used “onlyOwner,” “transferOwnership,” “renounceOwnership” and “claimStuckTokens” modifiers in the token’s code. This makes TWIF a highly centralized asset since the owner can redirect and freeze tokens, according to ChatGPT. The audit shows that the deployer can also claim coins sent to the…