cryptocurrency
Vitalik Buterin moves $2m in ETH to multisig wallet
Published
2 weeks agoon
By
adminVitalik Buterin transferred 800 ETH (worth $2.01 million) to a multisig wallet on Aug. 30. Shortly after, the multisig wallet swapped 190 ETH for 477,000 USDC.
This is not the first significant transfer by Buterin this month. On August 9, the ETH co-founder moved 3,000 ETH, valued at $8.04 million, to the same multisig wallet.
On June 12, 2023, Buterin transferred 1,000 ETH ($1.85 million) to a different multisig wallet, and in April 2023, Buterin moved 2,500 ETH ($4.6 million) to a cold storage wallet.
These transactions suggest Buterin is consolidating or reallocating funds, possibly for security or strategic purposes, but the precise reasons for the transactions remain unknown.
In October 2023, Vitalik Buterin posted on the decentralized social platform Warpcast, that he had not sold ETH for personal gain in over five years.
Instead, he wrote that he often uses his ETH holdings to support various communities and contribute to non-profit organizations.
For instance, in February 2023, Buterin donated Ethereum to aid victims of the 7.8 magnitude earthquake in Turkey.
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BTC Recovers Amid Rising Demand, Binance Unveils Listings
Published
17 hours agoon
September 15, 2024By
adminThe crypto universe has concluded yet another week with attention-nabbing developments unfolding across the broader market. While Bitcoin recovered from a $53K low to reach $60K in the past seven days, Binance announced a plethora of listings for numerous tokens. Here’s a brief report on some of the most buzzworthy headlines for this week, which have echoed a frenzy among market participants.
Bitcoin Regains $60K Amid Rising Institutional Demand & Macro Events
As mentioned above, the flagship coin recovered from a $53K low this week to top $60K. This rising movement is primarily attributable to increasing demand for the asset across the market.
Bitcoin ETFs registered $403.81 million in weekly inflows as of September 13, per Soso Value data, underscoring rising institutional demand. Further, this week saw Michael Saylor’s MicroStrategy bag $1.11 billion worth of BTC, validating increasing demand for the asset.
Simultaneously, even Japan’s Metaplanet bought BTC this week after revealing plans to do so in an official announcement. Macroeconomic events, in the interim, have further bolstered the flagship crypto’s price movements.
The U.S. CPI inflation came in line with market expectations at 0.2% for August. Meanwhile, even the U.S. PPI was slightly higher than the consensus estimate, increasing by 0.3%. These statistics have raised market expectations of a looming Fed rate cut ahead. Altogether, macroeconomic factors have sparked optimism for risk assets such as BTC, as seen by the recent price action.
BTC price rested at $60,162 as the week closed, a nearly 10% upswing in the past seven days.
Binance Announces A Stockpile of Crypto Listings
Meanwhile, crypto exchange giant Binance announced numerous listings this week, sparking a frenzy among market participants.
Continuing to tap into emerging markets, Binance this week announced Hamster Kombat (HMSTR) as its 58th launchpool project. Simultaneously, the exchange added Catizen (CATI) as the 59th launchpool project.
Moreover, the CEX rolled out a stockpile of listings for Polygon (POL), ex-MATIC, extending support to the tokenomics shift. POL’s price soared nearly 15% with the Binance announcement.
Similarly, the exchange also rolled out AERGO listing this week, igniting an upward trajectory in the asset’s price. Also, the exchange added Rocket Pool (RPL) to its stockpile of offerings this week, pushing RPL price up nearly 30% with the listing.
Altogether, this week mainly saw macroeconomic events kindle market sentiments while BTC price recovered with rising demand. Binance continued to cement its global foothold with enhanced user offerings.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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cryptocurrency
QNT leads market gainers with 10% surge, analyst eye further gains
Published
3 days agoon
September 13, 2024By
adminQNT, the native token of Quant, has seen a 10% surge over the past day, making it the top gainer in the market today.
According to price data from crypto.news, Quant (QNT) was trading at $77.02 upon writing. The altcoin reached an intraday high of $77.77 That’s 37.5% above its weekly low of $56.54, demonstrating strong upward momentum in tandem with the rise in the broader altcoin market.
The spike in QNT’s value appears linked to the recent announcement of new staking capabilities on the Overledger Network, as confirmed by Gilbert Verdian, CEO of Quant. The updated Terms and Conditions now include provisions for staking, which is poised to enhance the token’s utility by promoting long-term holding and reducing its circulating supply.
Moreover, the strategic update not only incentivizes token holders with potential rewards but also bolsters the intrinsic value of QNT by integrating it more closely with the network’s operations.
This development has resonated positively among investors, who view the enhancement as a dual catalyst for increased demand and reduced supply, thereby potentially driving the price upwards.
Quant is known for facilitating seamless connections across different blockchain networks, allowing developers to build decentralized multi-chain applications. This capability is critical for fostering interoperability and paving the way for a more cohesive digital economy.
Whale activity and decreased exchange supply
Another factor contributing to QNT’s price movement is heightened activity from large investors, or whales, who have been accumulating the token during its recent dips. Data from FishTheWhales highlights an uptick in whale transactions, signaling booming confidence in the asset’s prospects.
Similarly, metrics from Into The Block show a substantial increase in netflow of large holders—those owning at least 0.1% of QNT’s supply—from -3.1k QNT to 7.42k QNT from early to mid-September.
Additionally, the number of addresses holding QNT for more than a year has surged by 37.2%, reaching over 102.9k. This uptrend in long-term holding is paralleled by a notable 87.4% rise in open interest, climbing from $6.47 million to $12.13 million in the first half of September, as per Coinglass data.
Analyst eye potential upside for QNT
Crypto analyst Dami-Defi, on X, pointed out that QNT has broken out of a falling wedge pattern, a traditionally bullish signal indicating a possible reversal. Following this breakout, QNT moved past the $69 resistance level, setting its sights on higher targets.
Dami-Defi predicts that if the momentum sustains, QNT could potentially test resistance at $82 and may even soar to $145.5, representing a major jump from its current price levels.
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cryptocurrency
EToro to cease all crypto trading except BTC, BCH, ETH
Published
3 days agoon
September 12, 2024By
adminEToro reached a $1.5 million settlement with the U.S. Securities and Exchange Commission over alleged violations of federal securities laws.
According to an greement disclosed by the SEC, eToro also agreed to cease nearly all cryptocurrency trading and transactions for U.S. customers. Moving forward, American users can only trade Bitcoin (BTC), Bitcoin Cash (BCH), and Ethereum (ETH) on the platform.
Following the order issued on Sept. 12, the trading venue has 187 days to offboard all other cryptocurrencies and liquidate existing assets. Customers will receive proceeds equal to their balance.
The SEC’s complaint claimed that eToro operated an unlicensed broker and clearing agency since at least 2020. Although the exchange reached a settlement with the SEC, it declined to admit or deny the SEC’s allegations. Gurbir S. Grewal, director of the SEC’s enforcement division, said eToro’s cooperation provides a pathway for other crypto intermediaries to comply with U.S. rules.
By removing tokens offered as investment contracts from its platform, eToro has chosen to come into compliance and operate within our established regulatory framework… The $1.5 million penalty reflects eToro’s agreement to cease violating applicable federal securities laws as it continues its U.S. operations.
Gurbi S. Grewal, director of the SEC’s enforcement division
While the platform refrained from debating the security status of cryptocurrencies, the settlement may be used as a precedent in future cases. Separating BTC, BCH, and ETH from other cryptocurrencies suggests the SEC views most, if not all, other digital assets as securities.
EToro’s past decisions reinforce this view among some service providers. In 2020, when the SEC sued Ripple, eToro delisted (XRP) and three other cryptocurrencies in response. Still, the company’s crypto services proceeded in other markets. As reported, the firm bagged a CySEC CASP approval to offer digital asset facilities in all EU countries.
Meanwhile, the SEC and other U.S. regulatory watchdogs continued a sweeping crackdown across the burgeoning blockchain sector. SEC fines against crypto entities have exceeded $7.4 billion since 2013.
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