More than half of all Ethereum hasn’t moved in 12 months

More than half of Ethereum’s circulating supply has not moved in more than a year, with only 39.6% of Ether (ETH) changing hands over the past 12 months. According to Glassnode’s “hodlwaves” chart, which offers a chronological breakdown of the velocity of on-chain transactions, roughly 28% of Ether last moved between the past 12 and 24 months — comprising the largest segment of on-chain activity. Ethereum hodlwaves: Glassnode The data suggests that many whales spent 2019 accumulating Ether in advance of the project’s ETH 2.0 overhaul — for which phase…

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Calm before the storm? Analyst says $20K Bitcoin possible in 3 months

The price of Bitcoin (BTC) has been consolidating within a tight range for several months. If the top cryptocurrency successfully breaks out, Bitazu Capital founding partner Mohit Sorout says a record-high would be imminent. Since July 2020, Bitcoin has been ranging between $10,200 and $11,800, a 15% range. It has seen subdued volatility for a prolonged period, except for some short instances of a volatility spike. When Bitcoin stays stable for a long time in a tight price range, a major price movement typically occurs.  Whether a breakout would occur…

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Ethereum’s fees higher than Bitcoin’s for a record two straight months

Ethereum (ETH) transaction fees have exceeded those on the Bitcoin (BTC) network for two months straight. Crypto market data aggregator Messari tweeted about the streak on October 8, noting it is the longest period that Ethereum’s transaction fee revenue has exceeded Bitcoin’s in the crypto asset’s history. Ethereum fees have been higher than Bitcoin fees for 2 months straight. It’s longest streak ever pic.twitter.com/2KgnNBcrrT — Messari (@MessariCrypto) October 8, 2020 Ethereum fees skyrocketed into new all-time highs during August as the decentralized finance (DeFi) bubble began to shift into high-gear.…

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Wrapped Bitcoin tops $1B after 900% increase in two months

The recent DeFi bull-cycle has pushed the total value locked (TVL) of popular Bitcoin (BTC) tokenization protocol Wrapped BTC (WBTC) up by 900% to surpass $1 billion. The milestone comes four weeks after the TVL of all Bitcoin tokenized on Ethereum (ETH) surpassed $1 billion for the first time . The current TVL of tokenized Bitcoin is nearly $1.5 billion, of which WBTC currently represents one-third. Wrapped Bitcoin is now the fifth-largest DeFi protocol in terms of TVL, representing nearly 10% of the entire sector’s locked capital. WBTC’s TVL pushed…

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Brazen Nigerian Crypto Scam Inksnation Still Operational Three Months After Regulator Warning

One of Nigeria’s most brazen crypto scams, Inksnation remains operational and still invites new investors some three months after the country’s Securities and Exchange Commission (SEC) deemed its activities illegal. The SEC has previously warned Nigerians against investing with the scam saying doing so would be at own risk as there is no legal recourse in event of the scam collapsing. False Blockchain claims The SEC warning had been prompted by fears that Nigerians are falling victim to yet another giant scam that rides on the growing popularity of cryptocurrencies.…

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ETC Group’s Bitcoin ETP Hits $49 Million Assets Under Management in Two Months

Etc Group said Wednesday that its centrally cleared bitcoin exchange-traded product (ETP) has accumulated up to $49 million in assets under management since launch on June 18, 2020. The contract, known as Bitcoin Exchange Traded Crypto (BTCE), tracks the price of BTC and is 100% physically backed by the cryptocurrency. It started trading on Deutsche Börse’s Xetra electronic trading market in June with a total expense ratio of 2% – a measure of the total cost of the fund to the investor. According to Etc Group, a London-based financial services…

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Crypto Race Heats Up: Bitcoin’s Dominance Ratio Drops to Lowest Level in 12 Months

The largest digital asset by market capitalization, bitcoin has lost a significant share of market dominance during the last few weeks. Bitcoin’s dominance ratio dropped to 61.5% on Thursday, after hovering around 66% for months on end. The last time the crypto asset’s dominance level was around the 61% range was over 12 months ago on June 30, 2019. Bitcoin has the largest market valuation out of all the digital assets in existence. BTC’s market cap today is around $175 billion out of the grand total of $284 billion that…

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12 Months of Onchain Data Shows Bitcoin Whales Obtained Hundreds of BTC from Small Fish

According to recent data, crypto participants known as ‘bitcoin whales’ have been steadily accumulating bitcoins, and not selling since the ‘Black Thursday’ market carnage on March 12, 2020. Onchain data and blockchain analysis firms indicate that the number of bitcoin whales with 1,000 to 10,000 BTC or more on a single address has increased significantly. Small and Mega-Bitcoin Whales Accumulate More Coins During the Market Dip In the cryptocurrency world, investors who hold a large number of digital assets are typically called ‘whales.’ There are also all types of whales…

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Bitcoin Evolution: Wanna Make $1 Million in 2 Months Like Prince Harry and Meghan Markle? It’s a Scam

A bitcoin investment scheme has reportedly claimed that Prince Harry and Meghan Markle are making millions using a “wealth loophole” and have urged everyone to check out Bitcoin Evolution. However, this is a sales tactic by a known scam, claiming that some members earned their first million in just 61 days. Also read: Bitcoin Revolution: Wanna Earn $1,000 a Day? Government Warns About This Scam Investment Scheme Uses Prince Harry and Meghan Markle to Attract Investors The world’s financial crisis and significant job losses have driven many people to look…

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