Based on the statement that Bitcoin SOPR is still oscillating sideways, the volume of the SHIB perpetual swap has grown 78 times. Here are some highlights from the crypto market.
According to on-chain data, the value of Bitcoin SOPR has shown little volatility, suggesting that investors are unlikely to be willing to sell at this level.
According to a post from CryptoQuant, while Bitcoin price showed a marked improvement when it hit $ 55,000 for the first time since May, SOPR is still fluctuating sideways.
SOPR is a BTC indicator that shows the return of the entire market. If the value of this indicator is greater than 1, it means that the coin that was moved in the certain period is being sold for a profit.
In contrast, an SOPR below 1 would indicate that the user has moved and sold BTC at a loss. While a value of 1 means that the seller is just breaking even.
If the indicator shows an increase in value, it means that investors have started to take profits by selling their coins.
On the other hand, a loss in value means that the holders are selling at a loss, possibly because they no longer have confidence in the cryptocurrency.
Bitcoin SOPR Chart | Source: cryptoquant
As the graph above shows, the current SOPR value has neither increased nor decreased. The curve of the indicator is now just a flat line.
Despite the recent massive spike in the price of Bitcoin, which would normally have some investors take their profits, this doesn’t seem to be the case for now.
This trend is likely because the majority of owners believe that the price of BTC will rise even higher, so they have yet to get out of the market.
The fact that investors don’t want to sell their Bitcoin is pretty bullish for the market. However, if they start taking profits, this could be when a correction could occur.
The third largest Bitcoin whale sold 1,500 BTC.
In the past seven days, Bitcoin price has increased by about 23%, according to CoinGecko. It was a significant advance in a relatively short period of time, and the third largest BTC whale decided it was time to take profits.
The third largest Bitcoin address currently holds around 108,265 BTC. However, it looks like this whale has decided to take a profit or reduce its risk.
The address today sold 1,500 BTC for $ 54,300 in a transaction valued at nearly $ 81.5 million.
I think we can expect more sales, especially at #BTC go in the range of 55k to 58k. The purchased 15,227 #Bitcoin between 50,000 and 58,000 sooner so I think they will reduce risk to break even or make a small profit. Still minor sale as the net buyer
– Daniel Joe (@ DanielJoe916) October 8, 2021
Ripple claims the US Securities and Exchange Commission (SEC) must answer Approval applications (RFA), as it is about the protection of the “fairness” of the accused.
RFA is a tool that is used to get the other party to admit certain facts under oath.
The SEC is pending a protection order that would allow it not to provide responses to the defendants’ RFAs. Plaintiffs estimated that it would take up to 473 days to respond to all 29,947 “abusive” and “suppressive” requests from Ripple.
However, the defendants argued that the SEC only needed to respond to a small fraction of these RFAs, and asked the court to deny the SEC’s most recent request and asked the agency to respond within 30 days.
Ripple moves XRP.
Blockchain tracker Whale Alert says distributed ledger technology provider Ripple has made three transactions of 50,000,000, 20,000,000 and 13,500,000 XRP in the last 14 hours. The transfer was made to his alternative wallets: RL18-VN and RL43-EE.
The total amount of XRP moved is $ 90,276,470.
Ripple moves large amounts of XRP | Source: Whale Alert
The NFT sports platform Sorare announces a partnership with the Bundesliga, Germany’s best football championship.
As a result of the agreement between the two parties, Sorare will block the scoring moments of Bundesliga and Bundesliga 2 players into “NFT Moments”, a type of video NFT.
Earlier, on September 9th, Sorare also shook hands with the Spanish soccer championship La Liga to release the NFT. This means that the company is a partner of 2 of the top 5 football leagues in Europe.
📢 Sorare is a new partnership with. received #Bundesliga.
Sorare, a #NFT Football game, recently received a $ 680 million investment with its B-Series grant.
– NFT library (@LibraryNFT_en) October 6, 2021
Public.com, the new New York-based brokerage firm, has notification on launching a cryptocurrency trading service for its customers.
In a statement released Thursday, Public announced that users could trade and store cryptocurrencies in the same app that they use to manage their stock portfolios. The trading function for cryptocurrencies will gradually be made available to users over the next few weeks.
As part of its crypto trading service, Public offers support for Bitcoin (BTC), Ether (ETH) and Dogecoin (DOGE), Cardano (ADA), Litecoin (LTC), Bitcoin Cash (BCH), Stellar (XLM), Zcash (ZEC) , Ethereum Classic (ETC) and Dash (DASH).
After the 300-400% bull run on the spot market, the SHIB meme token had to adjust by almost 40% and is currently trading with a 5% daily loss. In addition to volatile market movements, the trading volume on the futures market also increased significantly.
The perpetual SHIB swap has seen 78x volume growth since October 1, breaking the $ 5 billion mark for the first time.
$ SHIBAThe impressive daily rally of 45% looks small when compared to activity in the derivatives market.
The volume of SHIBA perpetual swaps exceeds the US $ 5 billion mark for the first time
This is a 78-fold increase in volume compared to October 1st🤯 pic.twitter.com/vod5rsdpnP
– IntoTheBlock (@intotheblock) October 7, 2021
Tezos has opened a new development, research and promotion center in London to facilitate the development of network-based solutions.
follow Press releasethe TriliTech team announced the opening of a multi-purpose development center in London dedicated to expanding the Tezos network.
The TriliTech development team consists of well-known experts for decentralized, gaming, fintech and backend application development.
Switzerland-based tech company Velas has raised $ 100 million to startups building on the Velas blockchain, up from an initial pledge of $ 5 million earlier this year.
The future is now.
We are ALL IN when it comes to the accelerated growth of #Velas Blockchain
The 100m grant program is live. https://t.co/VIKy1SX1aP
– Velas (@VelasBlockchain) October 7, 2021
The scholarship program is designed to support the growth of the Velas ecosystem and expand its capabilities in the field of Web 3.0. Like the original $ 5 million grant program, the new funding initiative will provide up to $ 100,000 per project. Priority will be given to developers developing solutions for DeFi, decentralized exchanges, NFTs and games.
To apply for funding, startups must submit their business plan, advertising strategy, product specifications, project progress, and a statement on how their project will benefit the community.
Yat Siu, Co-Founder and President of NFT game developer Animoca Brands, believe NFT offers a new way of storing culture in cyberspace.
In an interview, Siu said that while the technology underlying NFT is new, the desire to archive the culture has been around for a long time in human history.
He calls the NFTs a culture store because they embody a moment in history.
Coti Network (COTI) has announced a significant upgrade, according to a press release.
From October 2021, the underlying volatile token offering will be balanced with Chainlink Keepers, the automated decentralized network developed by the Chainlink Oracles team.
We’re excited to announce the launch of CVI V2, which includes: volatility tokens and composability, margin trading and improved capital efficiency, USDC platform and redesigned.https://t.co/N2hYlGLpsbhttps://t.co/t39RuOs2FC$ GOVI $ COTI pic.twitter.com/TQ2BE1kLq6
– Cryptovolatility Index (CVI) (@official_CVI) July 29, 2021
With this new upgrade, the volatile token supply will be restored every day at midnight (UTC) to ensure a close and accurate connection to the current volatility of the crypto market.
Cardano’s stablecoin hub, Ardana, has partnered with the Elrond blockchain architecture.
Accordingly, the Elrond blockchain token will become one of the first cross-chain assets to be used as collateral on the Ardana platform.
– Cryptic Sniper (@ Andy05872904) October 8, 2021
Ardana is used to bridge the gap between Cardano and Elrond. By connecting the two ecosystems, integration into a project on two chains becomes possible, including the transfer of tokens between the Elrond mainnet and the Cardano chain. The project also plans to enable cross-chain smart contract functionality.
In the future, it will be possible to transfer assets from Cardano to Elrond with low fees. EGLD tokens will be available on Cardano and will be used as collateral on Ardana.
News longing finances
Yearn Finance announces integration with Fantom Network. As a mainstay of the DeFi sector, Yearn started out as an automated earnings aggregator that offers users the highest returns on their assets on Ethereum.
The realm of the multichain beckons.
And Yearn answered the call. 📯
– sehen.finance (@iearnfinance) October 7, 2021
Instead of manually moving cryptocurrencies from one protocol to another in search of the best rate, Yearn automates this process through its earn product.
The e-sports, gaming and interactive media investment platform Bitkraft VC has found Token funds worth …