From saying that whale trading dominates the Bitcoin market to AMC officially accepting payments in Dogecoin. Here are some highlights from the crypto market.
The data shows that large transactions increase as whales move their funds. This shows the maturity of Bitcoin as a macro asset class.
follow report In Glassnode’s latest weekly newspaper, large transactions are increasingly dominating the BTC network, suggesting that whales and institutional investors are showing a growing interest in the cryptocurrency.
Bitcoin trading volume chart | Source: Glassnode
The graph above shows that trading volume increased after a sharp drop in June and has been at a low level since then. The high trading volume shows that there is currently great interest in this coin.
There is a box on the chart that covers the trading volume from $ 13.6 billion to $ 16.8 billion. This box marks two regions of most of the trading volume where values are close to the ATH level.
The difference between the two peaks becomes clear on closer inspection of the histogram. It seems that recently transactions over USD 10 million have become more and more dominant.
These big businesses include whales, institutional investors, dealing desks, and other high quality companies and funds. The rise in whales shows that Bitcoin has matured as a macro asset.
Bitcoin is targeting in the $ 320,000 and above range over the long term.
After a macro and long-term view by trader ‘Pentoshi’ who posted a chart highlighting BTC’s multi-year trading range.
BTC / USD 1-week chart | Source: Pentoshi
According to the graph provided, the BTC price could reach as high as $ 323,216 in 2022.
Bitcoin will crash due to its extremely volatile and speculative nature.
Renowned Johns Hopkins University economist and crypto critic Steve Hanke believes Bitcoin will crash. He said the downside to Bitcoin, which will eventually bottom its price, is its “extremely volatile and speculative nature.”
What goes up has to go down, and #Bitcoin is certainly not exempt from this law. #BTC‘s extreme volatility and speculative nature serve as a reminder of the up and down law. pic.twitter.com/ux9pMy3jwL
– Steve Hanke (@steve_hanke) October 5, 2021
Hanke believes in the universal law that assets that grow quickly must eventually decline quickly. According to his tweet, Bitcoin proves that it is no exception to this law as it is very volatile and speculative.
Meanwhile, another well-known bitcoin hater, Peter Schiff, points to possible future circumstances under which the U.S. government could impose additional regulations on BTC and all other bitcoins.
According to data analytics firm Messari, the Ethereum network has processed $ 6.2 trillion in transactions in the past 12 months. What’s more impressive is that this number has increased by more than 350% compared to the last 12 months.
In the past 12 months, Ethereum has processed $ 6.2 trillion in transactions.
That number is up 369% from 2020 and was fueled by a strong third quarter with Ethereum trading $ 1.5 trillion.
Probably nothing. pic.twitter.com/O7Kx9OgWqF
– Ryan Watkins (@RyanWatkins_) October 4, 2021
Data from analyst Ryan Watkins shows that the Ethereum economy is growing strongly. Despite the limited impact of the London upgrade, increasingly fierce competition from other smart contract platforms, and a chain split bug in late August.
However, without ignoring the above issues, many users believe that the Ethereum chain will continue to grow strongly in the future.
Whales transport large amounts of ETH.
Whale Alert has spotted dozens of large Ethereum transfers moving the second most popular cryptocurrency, Ethereum, valued at over $ 2.2 billion.
The largest transfer took place with 227,371 ETH (equivalent to 784,858,373 USD). Smaller transactions included 101,000; 60,000; 30,000 and 10,000 ETH.
These funds are moved by the owners of anonymous Ethereum wallets on the Binance cryptocurrency exchange. The total amount of Ethereum transferred by Walen and Binance is over 675,226 ETH.
Whales move ETH | Source: Whale Alert
Arab bank in Switzerland has notification on Tuesday that it will integrate Tezos (XTZ) token staking, trading and custody services to provide a digital asset environment for institutions, businesses and high net worth individuals.
The 50-year-old bank has teamed up with Tezos in hopes of benefiting from energy savings, low gas fees and quick upgrades.
Arab Bank’s CEO in Switzerland, Rani Jabban, said the bank’s mission is to combine tradition and cutting-edge innovation. With its scalability, high quality governance and staking services, Tezos fits perfectly with the vision of the bank.
American film giant AMC Theaters is gradually getting closer to its goal of accepting crypto payments by the end of the year. The company is currently starting crypto purchases for electronic gift cards (eGift).
The CEO, Adam Aron, announced on October 5th that AMC customers can purchase digital gift cards containing cryptocurrencies such as Bitcoin (BTC) through the AMC website, an app for mobile devices, mobile devices and cinemas.
Additionally, Adam Aron announced that the leading cinema is now accepting Dogecoin and other cryptocurrencies for eGift cards.
Big news for Dogecoin fans! While we are working on accepting online crypto payments, you can now buy @AMCTheatres digital gift cards (up to USD 200 per day) with Dogecoin and other cryptocurrencies via a BitPay wallet. Accepted on our website, mobile app and in cinemas. https://t.co/hPubbeq4YG pic.twitter.com/dra7e23tc8
– Adam Aron (@CEOAdam) October 5, 2021
The largest cinema in the world also allows customers to pay for cinema tickets and discounted tickets with cryptocurrency.
Aron announced after a poll on Twitter that the company will accept Dogecoin.
The world’s largest cinema will also support Bitcoin, Ethereum, Litecoin and Bitcoin Cash later this year.
The Ethereum-based decentralized blogging platform Mirror opened its doors to the general public after months of opening only to creators chosen based on votes.
Publishing on Mirror is now open to everyone
Connect your wallet and start a decentralized blog in seconds.https://t.co/fWQgr0Ssc4
– Mirror (@viamirror) October 5, 2021
Mirror was launched in December 2020 and enables selected authors to publish on a decentralized blogging platform. Contributors can gain access by voting in weekly contests using the platform’s WRITE token with just ten selected content creators per week.
In an announcement on October 6, Mirror announced that they are now phasing out this system and open to anyone with an Ethereum address and wallet. Unlike most other commercial blogging platforms, mirror publishers control their own content as it is stored on a decentralized blockchain instead of a company server.
News CoinSwitch Kuber
The major Indian crypto exchange CoinSwitch Kuber joins the Unicorn Club by raising $ 260 million in a Series C financing round.
follow official announcement On October 6th, new funding brought CoinSwitch Kuber to the “top” of the unicorns in the land of billions as the company became “India’s Most Valuable Crypto Company” at $ 1.91 billion.
The round was led by Coinbase Ventures’ venture arm Coinbase Ventures and Andreessen Horowitz. Former investors such as Sequoia, Paradigm, Ribbit and Tiger Global also took part in the round.
With this funding, CoinSwitch Kuber aims to reach 50 million Indians on the platform and introduce new services such as lending and staking.
The 2003 Britney Spears and Madonna kiss, the most shocking and controversial moment in history, is currently going on auction in NFT format by photographer John Shearer.
The process takes place on the auction platform NFT Cryptograph, which is donated to the LGBT media organization GLAAD.
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