Arweave released the public testnet for Arweave AO, a new blockchain network that aims to offer significant scalability improvements, and invited tech enthusiasts and community members to join on Feb. 27. The initiative is built upon Arweave’s existing data storage platform, with aspirations to support a wide range of applications,…
Justin Sun-related crypto exchange HTX, formerly Huobi, has resubmitted its application for a Virtual Asset Trading Platform (VATP) license in Hong Kong. This move comes after it was reported to have withdrawn its initial application, according to a notice on the Securities and Futures Commission (SFC) website. The initial application,…
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Seven days after the new Bitcoin ETFs launched, I analyzed how they could put pressure on Bitcoin’s supply dynamics in an article called “If BlackRock continues 6k BTC daily buys, we get a supply crunch within 18 months; here’s why.’ On the day of publication, Jan. 18, Bitcoin closed at…
Quick Take Data shows that the 2021 cohort of Bitcoin investors, those who purchased Bitcoin during the fervor of 2021 when it hit highs of over $60,000 in Q1, possess an impressive holding record. Three years later, they epitomize long-term holding in an often volatile market. The proportion of circulating…
Crypto wallets associated with the now-defunct FTX exchange and its counterpart, Alameda Research, have moved over $8 million in digital assets in the past 24 hours amidst a surge in the broader crypto market. According to blockchain analytics firm SpotOnChain, these entities transferred 2,000 units of Ethereum, valued at around…
Quick Take There is a notable surge in capital inflows into Bitcoin ETFs, a trend clearly highlighted by recent capital movements. BitMEX data shows that ETFs saw a massive net inflow of $520 million, or the equivalent of 9,510 BTC, on Feb. 26. Bitcoin ETF Data in dollars: (Source: BitMEX)…
Quick Take The record-breaking wave in the ever-evolving digital asset market continues, with the recently launched Bitcoin ETFs setting a new high in trade volume. As per data analysis findings shared by senior Bloomberg ETF analyst Eric Balchunas, these newborn- nine Bitcoin ETFs marked an all-time high trade volume of…
Quick Take Bitcoin, the flagship digital asset, recently climbed to as high as $57,000 – a peak not seen since November 2021. BTCUSD: (Source: TradingView) Despite a subsequent minor fallback to around $56,000, the 24-hour span saw a remarkable price swing of $7,000, with the digital asset appreciating by approximately…
Open interest, the total number of outstanding derivative contracts that have not been settled, is an important metric for gauging market health and sentiment. An increase in open interest means new money entering the market, showing heightened trading activity and interest in Bitcoin. Conversely, a decline suggests closing positions, potentially…