Data shows crypto downturn driven by short term Bitcoin holders ‘panic selling’The global crypto market cap is $1.74 trillion with a 24-hour volume of $301.35 billion. The price of Bitcoin is $39,695.48 and the BTC dominance is at 42.7%.
by Samuel Wan Short term panic sellers appear to tanking the market, but FUD is driving the narrative of worse to come. The number of addresses holding Bitcoin for more than one year has increased to its highest ever level, data from analytics tool IntoTheBlock showed today. Ad 📈 Earn 8% APY on Bitcoin & 9 more crypto assets and 12% on Fiat & Stablecoins. Compounding interest, paid out daily. More news ⏬Inside the ‘GAT’ tokenomics of DeFi games project Alchemy ToysNon-fungible tokens (NFTs) and blockchain games have taken the crypto market by storm in the past year, with the frenzy and demand for digital collectibles turning into a multi-billion market. DeFi is coming to the Cosmos (ATOM) network via ‘Gravity’We’re only in Q2 but 2021 has already been a record-breaking year for Cosmos. A 4chan ‘insider’ predicted yesterday ‘Bitcoin dump FUD,’ says it was China-led shakeoutAn anonymous user apparently not only predicted yesterday’s massive sell-off on the crypto market but also claimed that it was an organized China-related campaign aimed at a single “stakeholder”—half a day before the trading carnage actually began. Of course, the following should be taken with a giant grain of salt. Chinese crypto-linked stocks like Meitu see big corrections after Ethereum dumpStocks of Chinese publicly listed companies fell sharply today after cryptocurrencies like Bitcoin, Ethereum, and others plunged massively on Wednesday, data from multiple sources shows. JPMorgan says investors fleeing to gold after Bitcoin dipped to near $30,000Institutional investors are turning away from Bitcoin amid the latest massive sell-off on the crypto market—and allocating their capital back in gold, according to a note written by research analysts at American investment bank JPMorgan Chase. VeChain (VET) verifies results of a 305 metric tonne plastic clean-up in the oceanReSea Project, a Danish company with a community-driven solution to remove plastic from oceans and rivers in Indonesia, shared their Cleanup Impact Status on Linkedin yesterday, stating they cleared 305 metric tonnes of plastic waste from the ocean and verified the results using VeChain. Cardano trader loses $45 million after ADA plunges 22%A single Cardano (ADA) trade worth over $45 million was liquidated today as the token fell along with the rest of the crypto market, data from markets tool Bybt shows. Ripple helps establish payments corridor between Egypt and UAEThe National Bank of Egypt (NBE) has partnered with Ripple (XRP) to establish a cross-border payments corridor with the United Arab Emirates via RippleNet, according to a press release published on Tuesday. Report: India may be considering crypto regulation instead of a blanket banIndia’s central government is currently considering the possibility of creating a regulatory framework for cryptocurrencies in the country—instead of a complete ban proposed in the past, several sources told The Economic Times today. Control your wealthAd: A trusted and accessible wealth management ecosystem powered by blockchain technology, SwissBorg puts your wealth back in your hands. 🔥 Trending Sectors
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