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Data from Glassnode shows that long-term ETH holders are still holding onto their positions while whales shy away from accumulating too much. The amount of ETH supply last active between 7-10 years ago hit an all-time high of over 5.3 million ETH. This indicates these long-term holders are not selling out of their positions. Additionally, the number of addresses holding 1,000+ ETH coins dropped to a five-year low of just over 6,000. This suggests that whale interest in the Ethereum protocol is likely to be currently lower than what it has been for most of the last five years. You might also like: ETH options call block volumes exceed $250 million The number of addresses holding 10,000+ ETH fell to a two-year low of just over 1,000. This further cements the idea that whales lost a significant of interest in accumulating great quantities of ETH. Overall, the data shows that while long-term holders are keeping their Ethereum close after seeing significant gains compared...

Guild of Guardians is a dungeon-crawling mobile adventure game with a play-to-earn twist. From Oct. 9–20, Immutable invited playtesters to try out an early demo of its upcoming mobile game, Guild of Guardians. Guild of Guardians was first announced in 2021. Its utility token, Guild of Guardians Gems (GOG), went up for sale in December 2021, raising over $5.3 million for the game’s development. In addition, over 800,000 individuals registered for the token sale, which Immutable claimed was an “oversubscription” of 82 times vs. the expected demand. It is being developed by Mineloader, which is the same company that created the Final Fantasy VII remake and Final Fantasy XIV: Endwalker. Gods Unchained creator Immutable is publishing the game. According to the game’s roadmap, it is expected to be released in open beta sometime in the fourth quarter of 2023. The Guild of Guardians documents state that it will be a free-to-play and play-to-earn mobile game. Players will not need to make any...

Bitcoin ETF and halving buzz have boosted BTC's demand compared to Ethereum in recent weeks. The price of Ethereum's native token, Ether (ETH), is trading around a 15-month low versus Bitcoin (BTC), and the lowest since Ethereum switched to proof-of-stake (PoS). Will it continue to weaken for the remainder of 2023? Let's take a closer look at the charts.  Ethereum price breaks below critical support vs. Bitcoin The ETH/BTC pair dropped to as low as 0.056 BTC earlier this week. In doing so, the pair broke below its 200-week exponential moving average (200-week EMA; the blue wave) near 0.058 BTC, raising downside risks further into 2023. The 200-week EMA has historically served as a reliable support level for ETH/BTC bulls. For instance, the pair rebounded 75% three months after testing the wave support in July 2022. Conversely, it dropped over 25% after losing the same support in October 2020. ETH/BTC weekly price chart. Source: TradingView ETH/BTC stares at similar sell...

A multitude of speculations emerged after the Merge, suggesting that Ethereum [ETH] would eventually surpass Bitcoin [BTC]. Nonetheless, one-year post this upgrade, ETH still lags behind BTC. However, the approval of nine new ETFs for Ether futures ignited optimism once more. Yet, a recent report underscores how the underwhelming performance of these futures ETFs has sparked a desire to shift focus back to Bitcoin. Eric Balchunas, an ETF analyst at Bloomberg, shared on X that there has been some activity in the Ether futures ETFs market. However, it hasn’t met the expected levels. VanEck has managed to surpass ProShares, while the total flow stands at over $15.6 million. Source The initial trading volume of Ether futures ETFs represented just 0.2% of the trading volume that the ProShares Bitcoin Strategy ETF (BITO) achieved on its first trading day in October 2021. Given the lackluster performance of these products both at launch and in the present, analysts Anders Helseth an...

Crypto investment products have seen over $450 million in cumulative outflows over the past nine weeks. Outflows from crypto exchange-traded products (ETPs) reached $455 million over the previous nine weeks , according to a report from asset manager CoinShares. Outflows from ETPs generally indicate negative sentiment towards cryptocurrencies. Let’s analyse the latest dynamics in digital asset investment products. Here is our #FundFlows with @jbutterfill. Last week, outflows totalled US$54m. There have been outflows for 8 out of the last 9 weeks that aggregate to US$455m. 1/4 pic.twitter.com/23TRrTuN3L — CoinShares (@CoinSharesCo) September 18, 2023 Crypto exchange traded products are designed to track crypto prices. When shares of these funds fall below their target prices, they sell off cryptocurrencies, causing outflows . The week leading up to Sept. 18 saw outflows of $54 million — capping off nine weeks in which only a single week saw inflows. Bitcoin (BTC) saw the bigges...

The cryptocurrency landscape has been highly dynamic, with numerous new assets entering the market and generating diverse levels of interest. Ethereum [ ETH ] can claim to have the largest number of long-term holders, but there appears to be a decline in institutional interest in this asset. CoinShares revealed that ETH saw outflows of $4.8 million in the past week, resulting in total sales of $108 million for the year. James Butterfill, CoinShares’ Head of Research, observed that this categorizes it as the crypto witnessing the most substantial selling activity among prominent entities. The analyst described it as the “least favored digital asset” among exchange-traded product [ETP] investors. Also Read: Ethereum Registers More Long-term Holders Than Bitcoin in 2023 Source As seen in the image, Bitcoin [BTC] emerged as the cryptocurrency that suffered the most last week. The king coin witnessed significant entities selling approximately $69 million worth...

BTC currently makes up 41% of the total crypto market cap — its smallest market share since January. Bitcoin (BTC) is facing fresh competition from altcoins this month as data shows that — technically — it is already "alt season." Figures from CoinMarketCap and TradingView show that BTC currently makes up around 41% of the overall crypto market capitalization — its lowest since the start of 2022. Bitcoin sheds market cap prowess After suffering at the hands of the Terra LUNA collapse, altcoin markets have rallied considerably in recent months.  Alongside Bitcoin's return from 18-month lows of $17,600 in June, altcoins have enjoyed their own renaissance, one which is now giving Bitcoin bulls a run for their money.  According to CoinMarketCap, Bitcoin's market cap share is now at its lowest since mid-January, with largest altcoin Ether (ETH) in particular stealing the limelight in recent weeks. From lows of 14.3% on June 19, Ethereum's market cap dominance now stan...

This uptrend coincided with a general bullish wave across the market that saw Bitcoin climb to $26,400 late Thursday. ETH price ascended to $1,660 in a candle wick, unable to push past the 100-day Exponential Moving Average (EMA) (blue). advertisement Up barely 0.1% on the day, Ethereum live price has rebounded to $1,630 in a bullish four-hour candle. If this rebound continues as expected, ETH will likely close the day above the 21-day EMA (red) short-term resistance – a move likely to serve as confirmation for a rally above the upper range limit at $1,700. Large Holders Buying ETH Is a Bullish Signal Large holders are helping to keep Ethereum in the range channel while keeping bears in check. According to the latest insights from the on-chain analytics platform IntoTheBlock whales “are causing price consolidation in a tight range due to significant acquisitions both in the low and high 1600 ranges.” The chart below shows sign...

The last couple of weeks have been bullish for assets from the crypto market. Riding on the back of the ETF-induced rally, Bitcoin surpassed $31k. In fact, when the performance of the top 50 assets is analyzed, BTC’s seasonal show seemed to be decent enough. Over the past 90 days, it has appreciated by nearly 10%. Its forked version BCH , on the other hand, has fetched investors three-digit returns in the same period. Most other Altcoins , including Fantom , Chainlink, and Graph token, have reaped losses this season. Source: Blockchain Center Also Read:  Bitcoin Cash Rallies 111% in 5 Days: Back From the Dead? With the focus shifting back to Ethereum now, market participants believe that an ‘altcoin season’ could be in the making. In fact, the setup for a bunch of DeFi assets seems ripe for a rally. Chainlink and Co. to rally 100% next? Bitcoin Cash and Compound have been making noise for quite some time now. As chalked out below, these assets...

Also Read: Shibarium Restarts Block Production, SHIB And BONE Rebounds advertisement Popular Analyst Denies Bitcoin Crash Below $25,000 CrediBULL Crypto took to X on August 18 to reveal a significant detail missed by others during the crypto market selloff. He believes Bitcoin (BTC) will outperform Ethereum (ETH) and most altcoins in the coming months for a new all-time high. He highlighted that BTC held its local low while ETH broke its support in the recent selloff event is “very significant.” Before the rally to an all-time high, a similar market correction occurred but nothing changed with regards to HTF bullish market structure. “For those who have been following me for some time, you may remember something similar occurring when BTC was at 10k, back in 2020, right before our rally to 60k+. At that time I was also expecting a mega rally, led by BTC , to new all time highs (20k+) and I recorded a video pointing this very same observation o...

Hive made the rebrand to reflect its “evolving focus” on revenue opportunities in AI, cloud commuting and GPUs. Crypto mining firm Hive Blockchain is now calling itself Hive Digital Technologies — after enacting a branding pivot that seeks to highlight its foray into artificial intelligence. The Vancour-based mining company said in a July 12 statement it has dropped “ blockchain ” from its name to better represent the company’s “evolving focus” on revenue opportunities in graphics processing units (GPUs) and cloud computing as well as “its mission to drive advancements in AI” and support the “new Web3 ecosystem.” "As we expand our GPU Cloud business, we require a strategy that better reflects both sides of our business. We build infrastructure for emerging digital tech, not just blockchain , and we intend to utilize our large fleet of GPUs to grow a cloud hosting business,” said Hive’s CEO Aydin Kilic in a July 12 filing to the U.S. Securities and Exchange Commission. We're ...

Under the new legislation, crypto businesses will be compelled to post details about the quantity, properties, operational strategies, and accounting practices of the sale of virtual currencies, as well as earnings, volume, and market value of their cryptocurrency . advertisement What Does This Mean for Crypto ? Following the passage of the Virtual Asset User Protection Act on June 30, the FSC announced its decision on the proposed rules, stating that the goals of the measures are to increase accounting transparency. The timing and standards for assessing whether the sale of virtual assets to clients constituted profit were previously the subject of disagreement between businesses and their auditors. According to these regulations, if corporations sell virtual assets, the transactions will be recorded as profit following the company’s satisfaction of its holders’ responsibilities. Authorities in South Korea are certain that the new regulations would ...