21 Aug 2024
Grayscale outflows overshadow Ethereum ETF inflows
The launch of spot Ethereum ETFs has yet to live up to the market’s initial optimism, as reflected in their performance over the past few weeks. The Ethereum ETFs’ total on-chain holdings currently stand at approximately 2.81 million ETH, valued at around $7.33 billion, which accounts for about 2.3% of Ethereum’s total supply. Read more
On-chain derivatives trading volume declines third week in a row
On-chain derivatives weekly trading volumes have been shrinking for the third consecutive week, indicating a potential lack of risk appetite among traders, based on DefiLlama data. The declining volume is driven by several factors, including macroeconomic uncertainties like the unclear outcome of the US presidential elections. Read more
Ethereum L2 Corn launches with $6.7 million in seed funding, integrates Bitcoin-backed gas
Corn, an Ethereum Layer-2 network that uses hybrid tokenized Bitcoin (BTC) as gas and offers Super Yield to its users, has launched after securing $6.7 million in seed funding led by Polychain Capital, according to an Aug. 20 statement shared with CryptoSlate. Read more
State Street Selects Taurus for Crypto Custody, Tokenization
The bank will start with tokenization and plans to offer digital asset custody once the U.S. regulatory environment improves. Read more
U.S.-Listed Bitcoin Miners Have the Upper Hand Over Unlisted Peers: Bernstein
The ability to raise debt or equity in the world's deepest capital markets is a major advantage, the report said. Read more
Bitcoin Pops Over $61K, XRP Leads Gains Among Majors
Some traders expect market movements nearer to Friday when Federal Reserve chair Jerome Powell is scheduled to speak at the Jackson Hole symposium. Read more
Montenegro arrests executive suspected of $21M crypto fraud
Montenegrin police arrested FutureNet co-founder Roman Ziemian, alleging he was living under a false identity in the country’s capital city. Read more
2 key Bitcoin metrics signal steady bull cycle — 'No bubble' in sight
The metrics suggest that Bitcoin is unlikely to be overvalued at current levels and its price action is developing “steadily without significant anomalies or sharp jumps.” Read more
2018 fraud case could hold key to Solana ETF approval: VanEck exec
Analysts think Solana ETF approvals are unlikely for now, though VanEck’s head of digital assets suggests there’s still a way. Read more
Cambodia’s Bakong Tourists app boosts regional payment options
The Cambodian central bank’s Soramitsu-backed digital payment system is continuing to expand. Read more
US regulator fines crypto fund $150K for illicit Bitcoin loan
It’s part of the fallout from the industry-wide liquidity crunch triggered by FTX in 2022. Read more
Solana price hits a wall at $150 as several headwinds intensify
SOL price struggles to gain upward traction as DApp volumes plunge, spot ETF odds dwindle, and memecoins fail to rally. Read more
Bitcoin short-term holders ‘over-reaction’ a factor in BTC’s drop below $50K — Glassnode
Glassnode says short-term holders have “carried the brunt” of losses from Bitcoin’s recent drop below $50,000. Read more
Bitcoin Nukes $2K in Minutes as Crypto Markets Withdraw
Bitcoin dropped to $59K suddenly, dragging the rest of the market with it. Read more
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