Crypto market liquidation tops $200M in 24 hours

After a weeklong rally that pushed Bitcoin (BTC) value above $23,000, the crypto market experienced a significant sell-off in the last 12 hours that liquidated $183.99 million, according to Coinglass data. Total liquidations over the last 24 hours stood at $223.43 million as of press time. Of these liquidations, 90.29% occurred on traders who took … Read more

Binance mixes user funds with B-Token collateral by ‘mistake’

World’s largest crypto exchange Binance has acknowledged that it has mistakenly stored token reserves and user funds in the same wallet, according to a Bloomberg report. Reserves for nearly half of the 94 tokens issued by Binance, referred to as ‘B-Tokens,’ are stored in a single wallet called “Binance 8,” according to its website. The … Read more

Bitcoin back to 15th-largest market cap following fall to 26th in 2022

Bitcoin (BTC) holds the 15th-largest market cap with $441.53 billion as of Jan. 23, which reflects a significant climb from its ranking as 26th on Dec. 23, 2022. BTC climbs back up the rankings BTC’s market cap recorded a 35.9% growth from the $324.68 billion recorded on Dec. 23, 2022. At the time, Mastercard was … Read more

OKX reports $7.5B Proof-of-Reserves in BTC, ETH, USDT

OKX has reported its Proof-of-Reserves (PoR) for the first time revealing $7.5 billion in Bitcoin (BTC), Ethereum (ETH), and Tether (USDT), according to its January PoR report on Jan. 19. OKX is the only one among the top five exchanges with “100% clean” reserves, according to CryptoQuant — a term bestowed when an exchange’s reserves do not … Read more

Shift toward Liquid Staking Derivatives expected after ETH Shanghai upgrade

The Ethereum (ETH) Shanghai upgrade is due to release March, enabling withdrawals from beacon chain and allowing ETH currently staked in ETH 2.0 validators to be unstaked. With over 70% of ETH stakers currently at a loss with their ETH inaccessible, the Shanghai upgrade will enable stakers access to their ETH and decide whether to … Read more

ATOM and SOL beat BTC returns over the past 2 weeks

Altcoins often mirror the price movements of Bitcoin (BTC), the largest cryptocurrency by market capitalization. However, Cosmos (ATOM) and Solana (SOL), over the past two weeks, managed to outperform BTC. Cosmos is up nearly 15% compared to BTC over the past two weeks, Glassnode data indicates. On the other hand, SOL beat BTC by almost … Read more

Research: Nearly $9B worth of ETH was burned in 1.4 years

The second largest cryptocurrency by market cap, Ethereum (ETH), implemented a token burn mechanism on Aug. 5, 2021, through the Ethereum Improvement Proposal (EIP) 1559 upgrade. Since then, nearly $9 billion worth of tokens have been burned cumulatively, data from Glassnode indicates. A total of around 2.8 million ETH tokens have been removed from the … Read more

SBF allegedly moves $684,000 into Seychelles exchange, RenBridge

On-chain data suggests the fallen founder of FTX Sam Bankman-Fried (SBF) moved Ethereum (ETH) worth $684,000 to RenBridge and Seychelles-based exchanges over the past 2 days.  In a Twitter thread, on-chain sleuth BowTiedlguana claimed that SBF transferred $684,000 worth of Ethereum (ETH) to a Seychelles-based exchange and RenBridge. BowTiedlguana suggested that these transactions allegedly carried … Read more

ETH deflationary gains erased post-FTX collapse

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FTX Exploiter swaps 50K ETH to BTC swap sparking concern for Ethereum as ETH dips 3%

On Nov. 20, the FTX Exploiter account began to start shifting the stolen funds once again — totaling 50,000 Ethereum (ETH) valued at an estimated $60 million. The FTX hacker is doing things… They sent 25k ETH to another wallet and have been actively selling into RenBTC over the last few hours. They sold another … Read more