Author: Sollcrypto
Bitcoin Held on Exchanges Drops to Levels Similar to the 2017 All-Time High, Data Reveals According to data from on-chain analytics firm Glassnode, the amount of Bitcoin (BTC) held on exchanges has declined to levels comparable to the all-time high in BTC price witnessed in 2017. The latest figures indicate that less than 12% of the total BTC supply is currently stored in exchange wallets. Bitcoin Exchange Balances Plummet to 11.5% of Supply, Hitting Lowest Level in Over 5 Years Reflexivity Research’s co-founder, William Clemente, noted that the amount of Bitcoin supply remaining on exchanges has dropped to a mere…
Bitcoin’s Inflows Correct Months of Outflows as Dominance Persists According to a recent report by CoinShares on July 10, the digital asset market has experienced a third consecutive week of positive inflows, effectively offsetting nine weeks of previous outflows. This week’s inflows reached $136 million, with Bitcoin maintaining its dominant position by accounting for 98% of the total inflows. The remaining 2% was contributed by Ether, multi-asset holdings, and a few alternative coins. This ongoing trend of positive movement has resulted in a total inflow of $470 million, effectively reversing the previous outflow streak. Bitcoin inflows remain strong, following two…
Spot Bitcoin ETF Could Attract Institutional Investors, says Volatility Shares Co-Founder The co-founder and president of Volatility Shares, Justin Young, believes that the introduction of a spot Bitcoin (BTC) exchange-traded fund (ETF) could signal a new era of institutional investor participation in the cryptocurrency market. Young suggests that investors seeking exposure to Bitcoin are actively searching for the “easiest and most regulated way” to invest, and a spot ETF could offer a compelling solution. Young expressed his views in a recent interview, stating that ETF issuers who submit applications for spot Bitcoin ETFs are highly regarded by investors. The filing…
Bank of England (BOE) Governor Rejects Crypto and Stablecoins, Favors Advancements in Digital Money In a recent speech on July 10, Bank of England (BOE) Governor Andrew Bailey addressed the central bank’s role in controlling inflation and maintaining public trust in financial institutions. During his speech, Bailey expressed his skepticism towards cryptocurrencies, stating that they do not qualify as money. Instead, he advocated for the development of “enhanced digital money” as a preferable alternative. Bailey highlighted recent bank failures in the United States and Switzerland, emphasizing the issues surrounding the singleness of money and settlement finality. According to him, both…
Canadian Parliamentary Report Urges Recognition and Comprehensive Steps for the Blockchain Industry A report recently released by the Canadian House of Commons Standing Committee on Industry and Technology has put forth recommendations calling for the official recognition of blockchain as an emerging industry in the country, emphasizing the need for thorough action to support its development. The report, the result of a comprehensive study involving five meetings, numerous witnesses, and briefs, outlined various applications of blockchain technology, including cryptocurrency, supply chain management, public sector utilization, and non-crypto financial innovations. According to a witness for the committee, Canada showcases remarkable innovation…
“Democratic Presidential Candidate Robert F. Kennedy Jr. Revealed to Hold Up to $250,000 in Bitcoin, Contrary to Previous Claims” According to records obtained by CNBC, it has come to light that Robert F. Kennedy Jr., a candidate for the Democratic presidential nomination, possesses a Bitcoin investment valued between $100,001 and $250,000 as of the end of June. This investment was reportedly made subsequent to his appearance at the Bitcoin 2023 conference in May, during which he declared that his campaign would become the first in the United States to accept Bitcoin donations. Interestingly, despite his recent disclosure, Kennedy Jr. had…
Marathon Digital Associates 21% Decrease in June Bitcoin Mining to Texas Weather Conditions and Transaction Fee Reduction In a statement released on July 5, Bitcoin mining firm Marathon Digital attributed the recent decline in its total amount of mined Bitcoin, valued at $30,276, to the adverse weather conditions in Texas and a decrease in transaction fees. The company reported a 21% drop in Bitcoin mining output in June compared to the preceding month of May. Highlights and updatateds Operational highlights Metric Year-over year comparison6/30/20236/30/2022Prior month 6/30/20235/32/2023Btc producedAvg. BTC produced per979 140 559%979 1.245 …
Circle and Tether Freeze Over $65M in Assets Linked to Multichain’s Suspected Exploit In response to the suspected exploit of the cross-chain router protocol Multichain, stablecoin issuers Circle and Tether have taken action by freezing more than $65 million in associated assets. The decision came after significant unexplained outflows from the Multichain MPC bridge on July 6. According to 0xScope, a knowledge graph protocol, three addresses that received at least $63.2 million in USD Coin (USDC) from Multichain are now under freeze. Additionally, a report from the Fantom Foundation reveals that over $2.5 million in Tether (USDT) has been frozen…
European Trade Body Urges Inclusion of DeFi in MiCA Regulations to Mitigate Risks The Association for Financial Markets in Europe (ASME), an influential industry advocacy group representing wholesale market participants in Europe, has voiced its concerns over the exclusion of the decentralized finance (DeFi) sector from the markets in crypto assets (MiCA) regulations. ASME has called for the incorporation of DeFi within the comprehensive crypto legislation set to take effect in December 2024. MiCA is regarded as a significant step towards establishing comprehensive regulations for the crypto industry. However, it currently omits certain aspects such as DeFi and non-fungible tokens…
Extensive Crypto Theft: Over $30 Billion Stolen from the Cryptocurrency Ecosystem since 2012, as Per Recent Report A report released on July 7 by SlowMist has unveiled a concerning trend within the crypto world, revealing that a staggering sum of over $30 billion in cryptocurrencies has been hacked over the span of 1,101 documented incidents, starting from 2012 and continuing to the present. The blockchain security firm has identified the top five most common types of hacks that have occurred within this timeframe. These include smart contract vulnerabilities, rug pulls, flash loan attacks, scams, and private key leaks. The cumulative…