Block.one’s Bitcoin reserves are now worth double the entire EOS market cap
Block.one holds a reported 140,000 BTC which is worth around double the EOS market cap. Does that make EOS a buy? EOS has largely under performed during this crypto rally and has dropped out of the top ten by market cap, but one industry executive believes it could be one of the best risk/reward digital assets right now.Chartered Financial Analyst and Arca CIO Jeff Dorman made the assertion based upon Block.one’s extensive Bitcoin holdings.Before delving into that, Dorman observed that EOS is the only major crypto asset apart from XRP that has not made significant gains during this rally.....
Related News
The fallout from Terra’s collapse continues as outflows from Tether (USDT) hit an average of $1.1 billion a day over the past week. Cryptocurrency investors and traders have cashed out $7.7 billion from the stablecoin Tether (USDT) resulting in its market capitalization falling by 7.8% over the past seven days to $76 billion.The amount withdrawn from the top stablecoin is nearly double the $4.1 billion it held in cash reserves at the end of 2021 according to Tether’s latest reserves report from December 2021.To maintain Tether’s peg with the US dollar the company behind the token backs....
Amid the ongoing block size debate, Bitcoin Association Switzerland has published a rare survey – which gauges sentiment on potential solutions to Bitcoin’s biggest headache. The board president of the group, which describes itself as formed of “enthusiasts,” published his findings on Bitcointalk Monday. 269 respondents answered to questions posed in the....
The EOS-based Bullish Global crypto exchange platform is expected to go live later in the year. Blockchain software firm Block.one has announced plans to launch a cryptocurrency exchange subsidiary.According to a release published on Tuesday, the platform — dubbed “Bullish Global” — will run on the EOS blockchain.As part of the announcement, the EOSIO developer revealed that it had raised capital to the tune of $10 billion for the crypto exchange. This sum includes $300 million in investor funding from the likes of Peter Thiel and Mike Novogratz, as well as hedge fund managers Alan Howard....
Bitcoin exchange reserves dropped from 2.5 million to 2.355 million in the past month as around 145,000 BTC, worth $2.35 billion, moved out of exchanges. From Oct. 15 to Nov. 15, Bitcoin (BTC) exchange outflows dropped from 2.5 million to 2.355 million, the lowest levels since August 2018. Approximately 145,000 BTC, worth $2.35 billion at a price point of $16,200, moved out of exchanges.Bitcoin exchange reserves since January 2018. Source: CryptoQuantIn the same period, Bitcoin miners mined around 27,000 BTC, equivalent to around $437.4 million. Since miners have been mining 900 BTC daily....
Amid Bitcoin (BTC) continuous struggle for a major rally to new heights, miners powering the Bitcoin network are experiencing significant economic shifts. Particularly, recent data shows a stark reduction in Bitcoin reserves held by miners, signaling potential shifts in market stance or miner strategies. Related Reading: $0 Flows: BlackRock Unshaken Despite Recent Bitcoin Market Crash, Data Shows Bitcoin Miner Reserves: A Plunge To 3-Year Low Following the latest Bitcoin Halving—an event that reduced the block rewards miners earn for their computational efforts—which occurred back in....