Large institutions sold $5.5B in BTC since May — and we're still here
Massive sell-offs from institutions appear to have been the driving force behind the drop in Bitcoin price since May, according to an analyst from Arcane Research. Since May 10, as much as 236,237 Bitcoin (worth $5.452 billion) has been sold by “large institutions” — mostly as a result of forced selling. A Twitter thread from Arcane Research analyst Vetle Lunde details how and when many institutional Bitcoin holders began selling their stacks. Lunde stated that “it all started with Do Kwon.” The Luna Foundation Guard (LFG), which controlled funds for the Terra project, dumped 80,081 BTC in....
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Grayscale has sold all of its XRP holdings to purchase bitcoin, ether, and other crypto assets. In an announcement made earlier today, Grayscale made it known that the firm has sold all of its XRP tokens from the Digital Large Cap Fund. Grayscale Sells Off All XRP Holdings There appears to be more gloom for XRP as Grayscale Investment announced that it had sold off all XRP tokens it was holding in its Digital Large Cap Fund. This news comes days after a report emerged that Grayscale had purchased a large number of XRP tokens at a much lower price. According to data from Cryptowhale, the....
American Banker reported that batches ofFinTech startups are relocating to London to engage with large financial institutions and banks through connections from accelerators and mentorships, such as Accenture’s FinTech Innovation Lab, or accelerator Level39. Global investments in FinTech ventures have reached US$12.21 billion, a large portion in London. Sir Edward Lister, chief of staff for the mayor of London, told American Banker: While many U.S-based startups have set their focus on small merchants and consumers, startups in London have pivoted to a model for larger clients, such as....
CryptoDragons, the NFT project and first battle on the blockchain, announced an Egg reservation for November 7 at exactly 12 PM EST for interested players to reserve Dragon Eggs. As part of this challenge, 500 Eggs were up for grabs, including 1 Legendary Egg, 1 Epic Egg, and 498 randomly distributed Eggs. Prices were set at 35 ETH, 7 ETH, and 0.2 ETH, respectively. 🚀 All SOLD OUT! Random Eggs 0.2 ETH – sold outEpic Eggs 7 ETH – sold outLegendary Eggs 35 ETH – sold out Less than 10 Seconds!#nft #nftart #nftcommunity #cryptodragons #ETH — CryptoDragons.com....
Data shows public Bitcoin miners dumped around 14.6k BTC during the month of June, which is about 25% of their total holdings. Bitcoin Public Miners Capitulate As Mining Revenues Stay Quite Low As per the latest weekly report from Arcane Research, BTC miners sold almost 400% of their production during the last month. Miners pay off their electricity bills, expansions, and other running costs using dollars. As such, the USD value of their Bitcoin rewards is the more relevant metric for them. Since the price of the crypto has been in a state of decline during the last few months, times have....
CryptoDragon’s NFT Egg reservation started at exactly 12 PM EST on November 7, 2021, and ended too quickly. Within 10 seconds, Legendary Dragon Egg and 499 more Eggs were reserved. 🚀 All SOLD OUT! Random Eggs 0.2 ETH – sold outEpic Eggs 7 ETH – sold outLegendary Eggs 35 ETH – sold out Less than […]