Post the FTX debacle Solana has been striving hard to make a strong comeback. Both TVL and transactions have been steadily rising as the SOL price tries to rebound. Rune Christensen, MakerDAO founder, wrote a blog for the MakerDAO community, in which he outlined the fifth and final step of the Endgame as recreating the MakerDAO protocol on a fresh independent blockchain. Even though MakerDAO has been running on Ethereum since its inception. The next new native chain will be based on a fork of Solana’s codebase rather than the Ethereum Virtual Machine (EVM). The last stage will be a complete re-implementation of the Maker Protocol on a fresh independent blockchain. And it is anticipated that this process will take at least three years, if not longer. Christensen said on Twitter that they should switch to Solana since it is a superior option for their blockchains. Key Developments Moreover, Solana Pay, created by Solana Labs, had earlier reached a key milestone with its integration with Shopify, a leading e-commerce giant. Businesses will be better able to conduct transactions and communicate with the world of cryptocurrencies thanks to this collaborative effort. When using Solana Pay, third-party processors are no longer required, thus eliminating extra charges and long holding periods. Amid recent developments, Solana saw a significant growth in the TVL on its blockchain. Solana’s TVL has increased from 205.11 million since the start of 2023 to 308.07 million. Also, DefiLlama, a crypto intelligence tracker, shows that both TVL and transactions have been steadily rising as the SOL price tries to rebound. Post the FTX debacle, Solana has been striving hard to make a strong comeback. This seems to be a result of Solana’s rise to prominence as the preferred platform for DeFi 2.0 apps and strategic collaborations.

Bitcoin whales, entities holding a substantial portion of the Bitcoin supply, have ignited speculation within the cryptocurrency realm by amassing more than a billion worth of BTC in mere two weeks. Data from crypto analytics firm IntoTheBlock reveals a significant uptick in the accumulation of Bitcoin by addresses holding at least 0.1% of the total BTC supply, valued at over $500 million each. These entities collectively added a staggering $1.5 billion to their holdings during the final two weeks of August. This surge in accumulation coincides with the excitement surrounding the potential introduction of a spot Bitcoin ETF in the United States. This substantial accumulation of Bitcoin by crypto whales serves as a clear testament to their growing confidence and heightened interest in the cryptocurrency, irrespective of recent price oscillations and regulatory ambiguities. Bitcoin Price Upsurge Amidst ETF Speculation The chronology of this accumulation is particularly captivating. While Bitcoin’s price experienced a dip, it experienced a transitory resurgence subsequent to a pivotal court ruling linked to Grayscale’s pursuit of a spot Bitcoin ETF. The verdict translated into a price upswing exceeding $2,000, propelling the alpha coin to a two-week zenith, slightly exceeding the $28,000 threshold. Nevertheless, just as the cryptocurrency community was poised for jubilation and pinned hopes on the ETF’s ratification, the US Securities and Exchange Commission (SEC) introduced an unexpected regulatory twist. A dopting a circumspect stance, the regulatory authority deferred its verdict on all active Bitcoin ETF applications. Consequently, Bitcoin relinquished all its gains stemming from the brief rally triggered by the Grayscale ruling, regressing below the $26,000 mark. Institutional Optimism Amidst Ambiguity The current BTC price is $25,808.30 according to CoinGecko, with a 24-hour decline of 0.8% and a seven-day loss of 0.9%. Despite the recent tumultuous price fluctuations and the ambiguity clouding the cryptocurrency market’s regulatory landscape, the continual accumulation of Bitcoin by crypto whales implies that institutional investors are cultivating an increasingly sanguine outlook regarding Bitcoin’s long-term prospects. The prospect of a Bitcoin ETF, promising a regulated and accessible entryway for mainstream investors, persists as a game-changing possibility that could significantly reshape the crypto outlook in the United States and beyond. While the cryptocurrency community anticipates further developments and regulatory determinations, the conduct of these crypto whales functions as a tangible gauge of swelling institutional interest in Bitcoin, fortifying the belief in its enduring value and pertinence. These crypto whales wield not only the power to sway the market but also reflect the sentiment and perspective of dominant participants within the dynamic domain of cryptocurrencies. Featured image from VOI

Zeebu, the world’s first on-chain invoice settlement platform for the telecom carrier industry, is set to host an exclusive yacht event that promises to be a hallmark moment during Token2049 Singapore. Gathering top Web3 leaders and notable investors, this event promises a blend of innovation and collaboration. It’s scheduled for September 14th, 2023, at Marina Bay Sands. By introducing game-changing solutions for global telecom carrier businesses, Zeebu is revolutionizing telecom and embodying the vision for a transparent and efficient B2B ecosystem, all while championing the cause of a decentralized tomorrow. The Exclusive Yacht Event will take place against the stunning backdrop of Marina Bay, providing the perfect setting for innovators and visionary venture capital firms to come together to collaborate and share insights. The Event is focused on networking and exploring the application of blockchain and Web3 technology to disrupt industries. The Zeebu team will engage in meaningful conversations about the future of these technologies and their potential to disrupt traditional industries and improve B2B settlements. Revolutionizing B2B Settlements: Onboarding Web2 Players to the Blockchain Zeebu is a pioneering force in the field of B2B settlements, with a vision aimed at transforming the settlement experience of telecom carriers through the use of innovative blockchain solutions. The Zeebu platform introduces the world’s first B2B loyalty token, ZBU, which provides loyalty rewards to merchants and customers for successful settlements. Zeebu is committed to empowering telecom carriers by eliminating the need for conventional and expensive traditional banking channels and intermediaries with cutting-edge technology. This enables telecom businesses to have access to transparent and efficient transactions, increased security, and enhanced efficiency. Zeebu has already established partnerships with key telecom industry players. Leveraging these strategic alliances, extensive access, and a strong network, Zeebu is primed to onboard more than 100 carriers, reaffirming its prominent position within the industry. Event Highlights: Gathering of Industry Visionaries: Zeebu’s yacht event is set to be a confluence of visionaries representing diverse sectors within the Web3 ecosystem. It will provide a unique opportunity for leaders and innovators to come together and engage in discussions that explore the dynamic possibilities of Web3. Exploring the Future of B2B Settlements: The event promises to be an insightful exploration of the future of B2B settlements. Attendees can expect in-depth insights into the transformative potential of blockchain-based solutions in the telecommunications sector. Engaging Networking Experience: While networking remains at the core of this event, participants can look forward to a dynamic and immersive atmosphere. Zeebu Exclusive: As part of the festivities, Zeebu has something exclusive and special in store for its guests, offering a memorable takeaway from this remarkable evening. Memorable Evening: The culinary experience at the event will be nothing short of exquisite, with a carefully curated menu of gourmet delights. Attendees can also expect captivating live performances that will further enhance the overall ambiance and leave a lasting impression. Surprise Await at the Zeebu Yacht Party! Zeebu team invites all blockchain enthusiasts, venture capitalists, and technology visionaries to this monumental gathering. Reserve your spot for an experience that promises to reshape the blockchain industry. To participate in the event, register by clicking on the event link here. ABOUT ZEEBU Zeebu is a pioneering on-chain B2B invoice settlement platform tailored for Telecom Carriers, streamlining cross-border payments with transaction times as rapid as 3-7 minutes. With robust KYC protocols and non-custodial wallet support, Zeebu guarantees secure and private payments between Customers and merchants. Staying true to the core principles of decentralization, Zeebu is shaping the future of the Telecom Carrier industry, powered by $ZBU Loyalty Token. To stay up to date about Zeebu’s Projects and Events, Join Our community from all over the world via the links below: Telegram Twitter Linkedin For media inquiries: Sneha Biradar Marketing Manager [email protected] Disclaimer: TheNewsCrypto does not endorse any content on this page. The content depicted in this press release does not represent any investment advice. TheNewsCrypto recommend our readers to make decisions based on their own research. TheNewsCrypto is not accountable for any damage or loss related to content, products, or services stated in this press release.

Bullish FTM price prediction for 2023 is $0.2906 to $0.4266 Fantom (FTM) price might reach $1 soon. Bearish FTM price prediction for 2023 is $0.1404. In this Fantom (FTM) price prediction for 2023, 2024-2030, we will analyze the price patterns of FTM by using accurate trader-friendly technical analysis indicators and predict the future movement of the cryptocurrency. TABLE OF CONTENTS INTRODUCTION Fantom (FTM) Current Market Status What is Fantom (FTM)? Fantom (FTM) 24H Technicals FANTOM (FTM) PRICE PREDICTION 2023 Fantom (FTM) Support and Resistance Levels Fantom (FTM) Price Prediction 2023 — RVOL, MA, and RSI Fantom (FTM) Price Prediction 2023 — ADX, RVI Comparison of FTM with BTC, ETH FANTOM (FTM) PRICE PREDICTION 2024, 2025, 2026-2030 CONCLUSION FAQ Fantom (FTM) Current Market Status Current Price $0.2021 24 – Hour Price Change 1% Up 24 – Hour Trading Volume $39,933,475 Market Cap $566,152,216 Circulating Supply 2,803,347,961 FTM All – Time High $3.48 (On Oct 28, 2021) All – Time Low $0.001953 (On Mar 13, 2020) FTM Current Market Status (Source: CoinMarketCap) What is Fantom (FTM) TICKER FTM BLOCKCHAIN Fantom CATEGORY Decentralized Layer-1 Blockchain LAUNCHED ON December 2019 UTILITIES Governance, Fast Transactions, gas fees & rewards Fantom (FTM) is the native cryptocurrency of the Fantom blockchain. It exists both as an ERC-20 token and a BEP-20 token confirming that it is compatible with both Ethereum and Binance Smart Chain (BSC) blockchains. Fantom is a layer-1 EVM-compatible smart contract-based blockchain that was launched in 2019. The blockchain operates on a specialized proof-of-stake (PoS) consensus protocol called Lachesis. Lachesis is an asynchronous Byzantine Fault Tolerant (aBFT) PoS protocol that is based on a directed acyclic graph (DAG) algorithm. Fantom 24H Technicals (Source: TradingView) Fantom (FTM) Price Prediction 2023 Fantom (FTM) ranks 58th on CoinMarketCap in terms of its market capitalization. The overview of the Fantom price prediction for 2023 is explained below with a daily time frame. FTM/USDT Falling Wedge Pattern (Source: TradingView) In the above chart, Fantom (FTM) laid out a falling wedge pattern. The falling wedge is a bullish pattern. Together with the rising wedge formation, these two create a powerful pattern that signals a change in the trend direction. The falling wedge pattern occurs when the asset’s price is moving in an overall bullish trend before the price action corrects lower. Within this pullback, two converging trendlines are drawn. One of the main features of the falling wedge pattern is the volume, which decreases as the channel converges. The most commonly falling wedge pattern occurs in a clean uptrend. The price action trades higher, however, the buyers lose the momentum at one point and the bears take temporary control over the price action. At the time of analysis, the price of Fantom (FTM) was recorded at $0.2021. If the pattern trend continues, then the price of FTM might reach the resistance levels of $0.2209, and $0.3209. If the trend reverses, then the price of FTM may fall to the support of $0.1750 Fantom (FTM) Resistance and Support Levels The chart given below elucidates the possible resistance and support levels of Fantom (FTM) in 2023. FTM/USDT Resistance and Support Levels (Source: TradingView) From the above chart, we can analyze and identify the following as resistance and support levels of Fantom (FTM) for 2023. Resistance Level 1 $0.2906 Resistance Level 2 $0.4266 Support Level 1 $0.1959 Support Level 2 $0.1404 FTM Resistance & Support Levels Fantom (FTM) Price Prediction 2023 — RVOL, MA, and RSI The technical analysis indicators such as Relative Volume (RVOL), Moving Average (MA), and Relative Strength Index (RSI) of Bitcoin (FTM) are shown in the chart below. FTM/USDT RVOL, MA, RSI (Source: TradingView) From the readings on the chart above, we can make the following inferences regarding the current Fantom (FTM) market in 2023. INDICATOR PURPOSE READING INFERENCE 50-Day Moving Average (50MA) Nature of the current trend by comparing the average price over 50 days 50 MA = $0.2316Price = $0.2038 (50MA> Price) Bearish / Downtrend Relative Strength Index (RSI) Magnitude of price change;Analyzing oversold & overbought conditions 41.15 <30 = Oversold 50-70 = Neutral>70 = Overbought Neutral Relative Volume (RVOL) Asset’s trading volume in relation to its recent average volumes Below cutoff line Weak volume Fantom (FTM) Price Prediction 2023 — ADX, RVI In the below chart, we analyze the strength and volatility of Fantom (FTM) using the following technical analysis indicators — Average Directional Index (ADX) and Relative Volatility Index (RVI). FTM/USDT ADX, RVI (Source: TradingView) From the readings on the chart above, we can make the following inferences regarding the price momentum of Fantom (FTM). INDICATOR PURPOSE READING INFERENCE Average Directional Index (ADX) Strength of the trend momentum 43.6723 Strong Trend Relative Volatility Index (RVI) Volatility over a specific period 37.91 <50 = Low >50 = High High volatility Comparison of FTM with BTC, ETH Let us now compare the price movements of Fantom (FTM) with that of Bitcoin (BTC), and Ethereum (ETH). BTC Vs ETH Vs FTM Price Comparison (Source: TradingView) From the above chart, we can interpret that the price action of FTM is similar to that of BTC and ETH. That is, when the price of BTC and ETH increases or decreases, the price of FTM also increases or decreases respectively. Fantom (FTM) Price Prediction 2024, 2025 – 2030 With the help of the aforementioned technical analysis indicators and trend patterns, let us predict the price of Fantom (FTM) between 2024, 2025, 2026, 2027, 2028, 2029, and 2030. Year Bullish Price Bearish Price Fantom (FTM) Price Prediction 2024 $1.8 $0.2 Fantom (FTM) Price Prediction 2025 $2.4 $0.37 Fantom (FTM) Price Prediction 2026 $3.1 $0.45 Fantom (FTM) Price Prediction 2027 $4.4 $0.53 Fantom (FTM) Price Prediction 2028 $5.7 $0.66 Fantom (FTM) Price Prediction 2029 $6.9 $0.79 Fantom (FTM) Price Prediction 2030 $7.5 $1 Conclusion If Fantom (FTM) establishes itself as a good investment in 2023, this year would be favorable to the cryptocurrency. In conclusion, the bullish Fantom (FTM) price prediction for 2023 is $0.4266. Comparatively, if unfavorable sentiment is triggered, the bearish Fantom (FTM) price prediction for 2023 is $0.1404. If the market momentum and investors’ sentiment positively elevates, then Fantom (FTM) might hit $1. Furthermore, with future upgrades and advancements in the Fantom ecosystem, FTM might surpass its current all-time high (ATH) of $3.48. and mark its new ATH. FAQ 1. What is Fantom (FTM)? Fantom (FTM) is the native cryptocurrency of the Fantom blockchain. Fantom is a layer-1 (L1), EVM-compatible smart contract-based blockchain. It exists both as an ERC-20 and a BEP-20 token. The blockchain operates based on a directed acyclic graph (DAG) algorithm. 2. Where can you purchase Fantom (FTM)? Fantom (FTM) has been listed on many crypto exchanges which includeBinance, CoinTiger, OKX, BTCEX, and Bitrue. 3. Will Fantom (FTM) reach a new ATH soon? With the ongoing developments and upgrades within the Fantom Platform, FTM has a high possibility of reaching its ATH soon. 4. What is the current all-time high (ATH) of Fantom (FTM)? On Oct 28, 2021, Fantom (FTM) reached its new all-time high (ATH) of $3.48. 5. What is the lowest price of Fantom (FTM)? According to CoinMarketCap, FTM hit its all-time low (ATL) of $0.001953, on Mar 13, 2020. 6. Will Fantom (FTM) reach $1? If Fantom (FTM) becomes one of the active cryptocurrencies that majorly maintain a bullish trend, it might rally to hit $1 soon. 7. What will be Fantom (FTM) price by 2024? Fantom (FTM) price is expected to reach $1.8 by 2024. 8. What will be Fantom (FTM) price by 2025? Fantom (FTM) price is expected to reach $2.4 by 2025. 9. What will be Fantom (FTM) price by 2026? Fantom (FTM) price is expected to reach $3.1 by 2026. 10. What will be Fantom (FTM) price by 2027? Fantom (FTM) price is expected to reach $4.4 by 2027. Top Crypto Predictions Pepe (PEPE) Price Prediction 2023 Helium (HNT) Price Prediction 2023 Conflux (CFX) Price Prediction 2023 Disclaimer: The opinion expressed in this chart is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.

Ripple argued that the SEC has not provided sufficient evidence to support its position. This case may play a significant role in determining the legal framework for cryptos. Ripple Labs Inc. and its senior executives have strongly fought the SEC’s attempts to validate an interlocutory appeal. This case may play a significant role in determining the legal framework for cryptocurrencies in the United States, particularly whether or not XRP, Ripple’s native token, is an investment contract. The United States Securities and Exchange Commission (SEC) is pressing for an interlocutory appeal on the grounds that the Ripple case presents legal problems with far-reaching implications for all digital assets. Ripple’s response is comprehensive. SEC’s Pursuit Together with the individual defendants, Ripple has opposed the SEC’s request for a stay, arguing that the SEC has not provided sufficient evidence to support its position. The SEC began its crackdown in December 2020, according to a document made on September 1st, claiming that the majority of Ripple’s transactions connected to XRP spanning over eight years should be seen as investment contracts. Garlinghouse and Larsen, along with Ripple, feel that the SEC’s pursuit of this lawsuit is representative of the agency’s policy of selectively regulating the U.S. cryptocurrency sector. The team stated that SEC has underlined the main issue at stake, which is whether or not the Howey test can be applied to Ripple’s particular operating conditions. Earlier in July, Judge Analisa Torres ruled that XRP sales in the secondary market are not deemed securities. Post the ruling price of XRP skyrocketed. Highlighted Crypto News Today: Crypto Exchange OKX Eyes Entry Into the Indian Web3 Market

Shiba Inu (SHIB) has recently found itself in a downward spiral. Over the past few days, the coin has been experiencing a steady decline, causing concern among its enthusiastic community of holders. The latest development indicates a potentially worrisome trend as sellers breach the lower support trendline of a bearish pennant pattern, hinting at further price drops on the horizon. The bearish pennant pattern is a technical analysis chart pattern commonly used in cryptocurrency markets. It is characterized by a consolidation phase after a sharp price decline, resembling a small symmetrical triangle that slopes downwards. This pattern typically suggests that the selling pressure remains strong, and the asset may continue to experience losses. As of the latest data from CoinGecko, SHIB is currently trading at $0.00000786, marking a 1.3% decline in the past 24 hours and a 3.2% slump over the past week. These numbers reflect the ongoing bearish sentiment in the market. Shiba Inu Market Sentiment And Volatility One notable aspect of SHIB’s recent price movement is the low trading volume in the market. Low volumes often indicate a lack of conviction among traders, which can result in subdued price action. While this may suggest that the downward momentum is not particularly strong, it also leaves SHIB vulnerable to sharp price swings should a significant volume of trades occur. Traders are closely watching for signs of increased activity that could either exacerbate the decline or potentially reverse the trend. Shibarium: Glimmer Of Hope Amid the uncertainty surrounding SHIB’s price, there is a ray of hope for the Shiba Inu community. The successful relaunch of Shibarium, Shiba Inu’s Layer 2 scaling solution, has garnered attention. Shibarium aims to address some of the challenges facing the Shiba Inu ecosystem by reducing transaction costs and increasing transaction speed. These improvements could make SHIB more attractive to users and potentially drive up demand for the cryptocurrency. While this development offers a counterbalance to the bearish technical indicators, its ability to reverse the trend remains uncertain. SHIB finds itself at a challenging position as it contends with the bearish pennant pattern and declining prices. The cryptocurrency market’s low volumes reflect a cautious sentiment among traders, leaving SHIB susceptible to potential price swings. The relaunch of Shibarium brings a glimmer of hope for SHIB’s future, as it seeks to enhance its utility and appeal. However, investors and traders are advised to exercise caution and closely monitor the market dynamics as SHIB navigates these challenging waters. (This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk). Featured image from Sunny Skyz

Polygon (MATIC), one of the prominent players in the cryptocurrency market, has faced a turbulent period as it lost its grip on the $0.60 mark, leaving investors and traders on edge. As of the latest data available, MATIC was trading at $0.540840 on CoinGecko, reflecting a 1.4% slip in the past 24 hours and a 0.6% decline over the last seven days. This dip in price has sparked discussions about the coin’s immediate future. The cryptocurrency market has been characterized by considerable uncertainty, with Bitcoin (BTC), the bellwether of the industry, also grappling with price fluctuations. Analysts suggest that BTC might enter a narrow consolidation phase before establishing a clear direction in the coming week. Given this backdrop, MATIC could follow suit by consolidating above the critical support level of $0.50 before attempting an upward move toward the 50-EMA (Exponential Moving Average) at either $0.60 or $0.65. Polygon Key Chart Indicators Raise Concerns Technical indicators have painted a cautious picture for MATIC. The Relative Strength Index (RSI) remains in the lower range, signifying bearish momentum, while the Chaikin Money Flow (CMF) has struggled to breach the zero level, indicating limited capital inflows and heightened selling pressure. Additionally, the On-Balance Volume (OBV) has slightly dipped, further suggesting a waning demand for MATIC in the current market conditions. In the midst of this market turbulence, Polygon has made an intriguing proposition. In July, the project unveiled plans for a token upgrade aimed at enhancing the capabilities of MATIC holders within the Polygon ecosystem. Polygon’s Ambitious Proposal The proposal seeks to enable MATIC holders to validate transactions on multiple blockchain networks, potentially increasing their utility and influence. However, it’s important to note that this proposal is currently pending approval from the Polygon community. If this proposal receives the green light, it would mark a significant shift for Polygon, as the coin would transition from MATIC to POL. Such a transition could have far-reaching implications for both the Polygon network and its community of users, potentially influencing MATIC’s price dynamics in the long run. Polygon finds itself at a critical juncture amid the recent market turbulence. While the short-term outlook remains uncertain due to negative chart indicators and wavering demand, the potential token upgrade proposal from Polygon offers a glimmer of hope for MATIC holders. As traders and investors closely monitor market developments, the path forward for MATIC will largely depend on broader market trends and the community’s decision regarding the proposed upgrade. (This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk). Featured image from Bizz Buzz

Shiba Inu (SHIB) is expected to play a significant role in the success of the layer-2 network Shibarium and the proposed decentralized Shiba Inu State. With this in mind, Shiba Inu’s marketing lead, Lucie, shared a quote from the recently published ShibPaper highlighting the token’s importance in the ecosystem and the roles holders will play. SHIB Remains The Core In a tweet, Lucie shared the second chapter of the whitepaper, where SHIB is mentioned as the “core” of the ecosystem. The document also labels the token as “one of the greatest currencies in the history of mankind.” To emphasize the importance of SHIB in the ecosystem, The ShibPaper states that the token would take a “new, yet critical role” in the governance of the Shiba Inu State. The token will be the community’s voice in many decisions. The ShibPaper, in chapter one, revealed that SHIB would be one of the governance tokens for the SHIB Inu State. In chapter two, it went further to give an insight into how governance of the decentralized state will look like. According to the document, every Shibizen (citizen of the Shiba Inu State) would be allowed to vote on important decisions as long as they hold “One SHIB.” However, following Lucie’s tweet, a user quickly pointed out a downside of this move as he questioned whether or not this move could enable “malicious actors” who would simply distribute 1 SHIB across many wallets and then vote against proposals that may benefit the ecosystem. Shiba Inu’s Growth SHIB has tremendously grown since it launched in 2020, becoming one of the largest cryptocurrencies by market cap (currently 16th at the time of writing). As part of plans to continue to bolster the token, the team plans to maintain its deflationary nature as several SHIB tokens are set to be burned in a move that will decrease its supply. According to data from Shibburn, SHIB currently has a total supply of 589 trillion SHIB, with 410 trillion SHIB already burned from its initial supply of 999 trillion SHIB. This move is expected to increase SHIB’s value as a reduced circulation supply creates an increased scarcity, thereby making the token more valuable. However, the team is cautious about promising the community that SHIB’s price is bound to increase significantly in the future. Meanwhile, Shibarium’s success is also projected to help boost SHIB’s value, considering that increased trading activity on the layer-2 network invariably means more utility for the token. Wallets on Shibarium crossed over 100,000 just a day after it relaunched. Wallets on the network have surged massively since then, as there are over 1 million wallets created on the network, according to data from Shibarium Explorer. Featured image from SimpleTexting

The identity of the mind behind the Shiba Inu meme coin has been a long-standing crypto mystery since it first debuted in 2020. So far, there has been no concrete proof as to who it might be with guesses ranging from FTX’s Sam Bankman-Fried to Ethereum’s Vitalik Buterin. Despite having little success so far, crypto investigators have not given up as a new theory has popped up as to the creator behind Shiba Inu. Has The Shiba Inu Founder Been Identified? An X (formerly Twitter) user identified by the username @boringsleuth first drew attention on Thursday, August 1, after they posted an elaborate theory as to who the founder of Shiba Inu is. In this initial thread, the researcher put forward that there was not one but two founders behind the coin. Two names were put forward – Ryo Suzuki & Tsuyoshi Maruyama, a combination of which the researcher believes was used to make the widely known Ryoshi moniker. Interestingly, both of the people named were identified to be advisors of B2C2, a liquidity provider. This is where the investigator makes the connection to Shiba Inu. According to Boring Sleugh, the liquidity provider’s wallet once held 25% of the total SHIB supply in its wallet. Furthermore, they linked the two alleged founders together by pointing out that Tsuyoshi Maruyama had immediately taken over as an advisor for B2C2 when Ryo Suzuki stepped down from the role in 2021. A follow-up post from the researcher digs deeper into Suzuki’s past, tying him to an internship at Microsoft when SHIB was launched, as well as a visit to the infamous MIT media lab in 2019. Unveiling Shocking Connections After debuting the theories on Thursday, it seemed Boring Sleuth was not done as a continuation was posted on Friday morning. This time around, the on-chain sleuth presents theories that connect the alleged founder to prominent personalities and organizations. The first of these was a connection to Ethereum founder Vitalik Buterin through a series of transactions that connected the Shiba Inu deployer wallet to Buterin’s wallet. The wallet in question identified as “0x2135” was not only connected to Buterin, however. The sleuth lists out notable people and organizations the wallet has also been connected to in the tweet below: The infamous gifting of half the total SHIB supply to Vitalik Buterin is also called into question, which one X user refers to as “a massive money laundering scheme.” In response, Boring Sleuth says that the ‘gift’ was a 100% tax write-off for the Ethereum founder. “He captured all the value without moving price down 1 cent,” the researcher added. Despite how convincing Boring Sleuth’s theories have been for some, there is still no confirmation of who the SHIB founder(s) are. The sleuth alludes to this as well in their most recent tweet saying “If you don’t know, the Shib founder has yet to come out.”

The 13th installment of the LUNC burn mechanism covers July 31st, 2023, to August 30th. The community on the other hand has burned 74.22 billion LUNC tokens. Binance has burned 796 million Terra Classic (LUNC) tokens as part of its 13th LUNC burn batch. So far, the crypto exchange has burnt approximately 37 billion LUNC, while the community as a whole has burned over 74 billion LUNC. According to the transaction details on September 1st, the exchange transferred 796,000,000 Terra Luna Classic (LUNC) tokens to the burn address in an effort to reduce the circulating quantity of LUNC. There is also a 3.98 million LUNC transaction fee included. Significant Decline The 13th installment of the LUNC burn mechanism covers July 31st to August 30th, 2023. Binance burned 1.41 billion LUNC tokens last month. The burn rate has significantly declined amid recent outgoing of key management and market downturn. The community on the other hand has burned 74.22 billion LUNC tokens. This month’s LUNC burn can be primarily traced down to only two sources: the validator DFLunc and project TerraCasino. Additionally, LUNC volume has decreased as the community’s attention has shifted from LUNC to USTC repeg. Members of the community were taken by surprise when Binance’s LUNC burn fell below 1 billion. The L1 Terra Classic Task Force (L1TF) has finished preparing for the v2.2.0 core update of the chain, which is the next major release. The update was tested by the core development team on the rebels-2 testnet for a week before going live on the mainnet sometime later this month. The price of LUNC has been hit hard amid the general market downtrend and is presently trading at $0.00006047, down 2.28% in the last 24 hours. Highlighted Crypto News Today: Robinhood Plans Repurchase of $605.7M Worth Shares Linked to FTX

The corporation has no plans to create an office in India as chief marketing officer. OKX and Neo, a blockchain platform, have collaborated to host an APAC Hackathon in India. Crypto exchange OKX, aims to join the Indian market and hire locals to help grow the scope of Web3 apps. OKX’s chief marketing officer, Haider Rafique, has said that the business intends to “exponentially ” expand the availability of its wallet services by engaging with the Indian developer community. He went on to explain that just 5% of India’s Web3 users (about 200,000 people) are now using OKX Wallet. According to the most recent statistics from CMC, OKX is the sixth biggest cryptocurrency exchange globally in terms of volume. Additionally, it lacks a central office in any one location, instead preferring to operate out of regional centers like Singapore, Dubai, Hong Kong, and the Bahamas. Community-based Strategy According to Rafique, the corporation has no plans to create an office in India and would instead rely on Indian nationals to head up operations there. The appropriate method to break into the regional market, he said, may be made clear by adopting a community-based strategy. OKX and Neo, a blockchain platform, have collaborated to host an APAC Hackathon in Bengaluru, India. According to Rafique, this is a trial run to check certain hypotheses. Moreover, get insight into the local culture, and help out the regional Web3 ecosystem. However, there are no centralized laws in place, therefore trading and using cryptocurrencies in India is done at the risk of the investor. There is no outright prohibition on them, but one also can’t use them for banking purposes. Moreover, cryptocurrency is subject to a 30% tax in the nation. Highlighted Crypto News Today: Binance Burns 796 Million LUNC Tokens in 13th Burn Batch

The Sui Network, known for its fast-paced growth and community support, is on the verge of a notable event. On September 3rd, a massive amount of SUI tokens, worth roughly $18.7 million, will be unlocked. Given its nature and the significant sum involved, this move could have some implications for the altcoin’s market dynamics in the coming days. A Rewarding Gesture For The Early Birds? The details surrounding this unlocking event have been transparently shared with the public. According to Token Unlocks, a crypto monitoring platform, this release will encompass 35.6 million SUI tokens. This quantity represents roughly 5% of the current circulating supply and interestingly, a predominant portion of these tokens could be earmarked for the network’s early supporters. With this event, chances are that some of the scheduled unlocked tokens could likely be used to reward SUI’s Active Contributors and Early Supporters (ACES) program. As instituted by the SUI developer, Mysten Labs, earlier this year, the ACES program was crafted as a gesture of gratitude. It aimed to acknowledge and reward those SUI discord members whose contributions were pivotal before the altcoin’s mainnet launch. Moreover, alongside this unlocking, data from Token Unlocks suggest that SUI also intends to set aside a portion of the unlocked tokens for staking incentives. What To Expect From SUI? With such a significant amount set to unlock, the temptation to sell might arise for some early supporters, especially if a portion is rewarded to Active Contributors and Early Supporters. This could potentially lead to a sell-off. Historically, massive token unlocks have sometimes resulted in short-term price depressions, given the increased market supply. Furthermore, the network, which has seen rapid expansion, has also recorded a user base jump from 3 million to 5 million users in a mere 14 days and then further to 6 million active accounts within another three days. With an addition of approximately 1 million active accounts weekly over recent weeks, such growth rates might cushion any potential bearish impacts. Meanwhile, ranking 89th among larger crypto by market cap, SUI has seen a notable plunge of nearly 10% in the past 7 days. And even in the past 24 hours, the bloodbath continues as the asset records a 1.3% decline with a market price of $0.49 at the time of writing. Featured image from Unsplash, Chart from TradingView

After overcoming initial setbacks, Shibarium, an Ethereum (ETH) layer-2 (L2) network backed by Shiba Inu (SHIB) tokens, has experienced a remarkable surge in metrics. With over 820,000 new wallet addresses and more than 90,000 daily transactions, Shibarium has demonstrated its appeal to users seeking faster, cheaper, and more private off-chain transactions while leveraging the security of the underlying Ethereum blockchain. Shibarium Emerges Strong Shibarium operates as a layer-2 network built on the Ethereum blockchain, aiming to enable faster, more cost-effective, and privacy-focused off-chain transactions while leveraging Ethereum’s security features. The recent increase in Shibarium’s metrics carries significant implications for the Shiba Inu project and its native token, SHIB. Furthermore, the growing number of wallet addresses and daily transactions within the network indicates an expanding user base and increased interest in the SHIB token. On the same note, the rapid growth of Shibarium’s user base demonstrates its potential to enhance scalability and drive wider adoption of the Shiba Inu project. By addressing Ethereum’s scalability limitations through its layer-2 solution, Shibarium aims to improve the user experience by enabling faster and more cost-efficient transactions. Shibarium scan plays a crucial role in monitoring the network’s progress. The platform’s data reveals surpassing 820,000 new wallet addresses, indicating the growing community embracing Shibarium’s benefits. As Shibarium’s metrics continue to show positive trends, it bodes well for the future of the Shiba Inu ecosystem and the SHIB token. The network’s ability to provide faster, cost-effective, and private transactions will likely attract more users, driving adoption and strengthening the ecosystem. Looking ahead, Shibarium is expected to play a pivotal role in supporting the growth and scalability of the Shiba Inu project. The recent surge in Shibarium’s metrics, with over 820,000 wallet addresses and over 90,000 daily transactions, marks a significant milestone for the Shiba Inu ecosystem. As a layer-2 network built on Ethereum, Shibarium focuses on enhancing transaction speed, reducing costs, and prioritizing privacy. This achievement is significant for the Shiba Inu project and the SHIB token, demonstrating the network’s potential for scalability, broader adoption, and continued growth. With Shibarium’s infrastructure in place, the Shiba Inu ecosystem is well-positioned to thrive in the evolving landscape of decentralized finance. Shiba Inu Faces Market Headwinds Despite recent developments, the Shiba Inu ecosystem faces some challenges, particularly its native token, SHIB, which has been affected by the overall market trend. SHIB is trading at $0.00000783, reflecting a 2% decline over the past 24 hours. More notably, the token remains significantly below its year-to-date price, experiencing a decline of over 34%. Of particular concern for SHIB bulls is the key support level at $0.00000762, which has been instrumental in sustaining the token’s price since July and has allowed occasional surges to $0.00001134. However, should the market recover and resume its bullish trend, SHIB may encounter a noteworthy obstacle in the form of its 50-day Moving Average (represented by the brown line in the chart). This Moving Average could substantially challenge the token’s upward trajectory. Featured image from iStock, chart from TradingView.com

SBF declared a 7.6 percent investment in Robinhood half a year before the insolvency filing. Robinhood stock rose by 2% in pre-market trade, trading at $11.10. Robinhood has reportedly reached a deal with the US Marshals Service to buy back shares. As a result, the firm plans to repurchase $605.7 million worth of shares from Sam Bankman-Fried’s (SBF) Emergent Fidelity Technologies. Following the bankruptcy filings of SBF’s FTX and Emergent last year, the equities in issue fell under the scrutiny of the US government. The market seems to have responded well to this news, as Robinhood stock rose by 2% in pre-market trade, trading at $11.10. Coordinating Closely With Authorities SBF declared a 7.6 percent investment in Robinhood half a year before the insolvency filing in November. But he stressed that he had no plans to take over the trading platform. In addition to the insolvency, SBF faces legal disputes after being accused of fraud in connection with the collapse of the FTX exchange last year. Given the ambiguity surrounding the confiscated shares, Robinhood’s CFO Jason Warnick stressed the need of obtaining them “free and clear of any claims.” The corporation also expects to coordinate closely with the U.S. DOJ as it works through this complex matter. It was also announced in February that Robinhood will be repurchasing shares from Emergent Fidelity Technologies. Robinhood’s stock price has risen since the company said it will repurchase shares. But the business is having trouble as retail investors who were formerly quite active on Robinhood’s platform now seem wary due to the uncertain market. Highlighted Crypto News Today: Shiba Inu Burns a Staggering 5 Billion Tokens, What’s Ahead?

Georgetown, Cayman Islands, September 1st, 2023, Chainwire Kava Chain, a decentralized Cosmos-Ethereum interoperable Layer 1 blockchain, is now available on Fireblocks, an enterprise platform to manage digital asset operations and build innovative businesses on the blockchain. The integration will enable safe and secure access for Fireblocks customers to the expanding Cosmos DeFi ecosystem via the Kava Chain. “With the integration of Kava Chain onto the Fireblocks Network, we’re excited to bring Kava’s innovative suite of DeFi app protocols and Cosmos DeFi access to our customers,” said Idan Ofrat, Co-founder and Chief Product Officer at Fireblocks. “In the past year, we have seen growing institutional interest in DeFi. Fireblocks’ defense-in-depth security and customizable Transaction Authorization Policy (TAP) allow our customers to safely explore and innovate in the DeFi arena without compromising their compliance and security requirements. We look forward to unlocking more opportunities for our customers in the future.” Kava Chain has been steadily building and growing through the bear market. However, without a robust connection to an MPC (multi-party computation) custody technology provider, top-tier crypto institutions have not been able to engage with the dApps on-chain. The Fireblocks integration enables over 1,800 leading digital asset and crypto institutions to now custody KAVA tokens and access Kava-native assets, including Cosmos-native USDt — selected by Tether to be issued exclusively on Kava Chain. This integration not only enhances institutional access to Kava but also allows Fireblocks customers to: Engage in DeFi opportunities on platforms within the Kava ecosystem, such as Curve, Kinetix, and Hover. Participate in market-making using Cosmos-native USDt on major exchanges. Explore new USDt DeFi opportunities on prominent Cosmos appchains. “Kava Chain’s role in arbitrage market making is becoming increasingly significant. With the Fireblocks integration, centralized exchanges (CEXs) and major market makers have a more capital-efficient option for cross-chain arbitrage,” said Scott Stuart, Co-founder of Kava Chain. “Instead of incurring high gas fees on Ethereum, they can now utilize Kava to transfer USDt between ecosystems efficiently. We’re excited about the future and the value this integration brings to our community!” For more updates, follow Kava Chain and Fireblocks on X (fka Twitter). About Kava Kava Chain (is a secure, lightning-fast Layer-1 blockchain that combines the developer power of Ethereum with the speed and interoperability of Cosmos in a single, scalable network. Committed to fostering innovation and growth, Kava Chain is a trusted choice for developers and users worldwide. Contact Marketing Manager Guillermo Kava [email protected]

The trend in the total supply of the stablecoins may have hinted in advance that the Bitcoin rally wouldn’t last too long. Bitcoin Stablecoins Supply Hasn’t Moved Much Recently An analyst in a CryptoQuant Quicktake post explained that the latest news has been unable to make the stablecoins supply budge. The “stablecoins supply” here refers to the total circulating supply of all stablecoins in the sector. Generally, investors use stables to escape the volatility associated with most coins in the rest of the cryptocurrency sector. Thus, whenever this metric rises, new tokens of the stablecoins are being minted because there is a demand for converting to them from the other assets or fresh demand is coming into the market. Such investors who seek safety in these fiat-tied tokens usually do so because they don’t want to exit the cryptocurrency sector completely; they only require a temporary place to station their capital. When these holders eventually find that the prices are right to jump back into the volatile coins like Bitcoin, they swap their stablecoins into them, thus putting buying pressure on their prices. Now, here is a chart that shows the trend in the stablecoins supply over the past year: In the graph, the quant has marked a specific correlation between the Bitcoin spot price and the stablecoin supply. It would appear that all the major increases in the former during the past year have come following rises in the latter metric. There are three instances of this trend in this period: the first formed before the January rally, the second before the March rebound, and the third before the June surge. From the chart, it’s apparent that the price increase in the asset wasn’t caused by the increases in the supply of the stables but rather the decline in them that followed afterward. The increases in the supply of the stablecoins likely occurred because of fresh capital injections. When this new capital was deployed into Bitcoin and the others (when the indicator declined), the assets obtained the fuel for their rallies. With the most recent rally in the asset instigated by the news of Grayscale’s victory against the US SEC, there was no such pattern in the supply of these fiat-tied assets. This may have been one of the early signs that the rally wasn’t backed by constructive market growth, as the stablecoins supply has only been moving sideways. The Bitcoin retrace below the $26,000 level may have only been a natural consequence of this weak structure. BTC Price Bitcoin had earlier fully retraced the gains of the Grayscale rally, but it would appear that the decline isn’t over just yet, as the asset has now gone below the $26,000 level it had been at before the surge.

The recent decline in Bitcoin (BTC) has raised concerns among market participants as the largest cryptocurrency struggles to maintain its upward momentum. With the loss of key moving averages and the $27,000 level, BTC’s sharp decline has been exacerbated by negative market sentiment and delays in the approval of spot Bitcoin Exchange-Traded Funds (ETFs) by the US Securities and Exchange Commission (SEC). Adding to the bearish outlook is the analysis of on-chain data, which suggests a lack of strong support below the $25,400 mark. Renowned crypto analyst Ali Martinez has emphasized this concern, highlighting the potential for a swift correction down to $23,340. However, the volatile nature of the Bitcoin market means that the outcome remains uncertain. Bitcoin Faces Extended Downtrend Ali Martinez’s recent post on X (formerly Twitter) has shed light on the on-chain data analysis for Bitcoin. Martinez points out that BTC is currently lacking robust support below the $25,400 level. This observation is based on BTC’s UTxO Realized Price Age Distribution, which provides insights into different cohorts’ holding behavior by overlaying a range of realized prices along with age bands. The analysis indicates a vulnerability in BTC’s price structure, suggesting that a break below the $25,400 threshold could trigger a swift correction downward to $23,340. Moreover, the negative sentiment in the market, coupled with regulatory delays in the approval of spot Bitcoin ETFs by the SEC, has added to the bearish outlook for Bitcoin. Many market participants had anticipated that the introduction of Bitcoin ETFs would act as a catalyst for a potential recovery in the near term. However, the prolonged delay in their approval has dampened investor sentiment and increased uncertainty surrounding the cryptocurrency’s future price trajectory. The lack of a favorable regulatory framework has further contributed to the extended downtrend and heightened market volatility. This said, if Bitcoin breaks below the critical support level at $25,400, as suggested by the on-chain data analysis, it could lead to a rapid correction down to $23,340. Such a significant decline would heighten concerns among investors and potentially trigger further selling pressure. Healthy BTC Correction? Adding to the analysis of the Bitcoin market, crypto analyst Egrag Crypto provides a broader context by highlighting the likelihood of the CME (Chicago Mercantile Exchange) gap closure and the significance of the $23,000 level as strong support. According to Egrag Crypto, even if BTC retraces to this point, it should be seen as a natural correction within the framework of an ongoing bull market. Egrag Crypto suggests that the CME gap closure is a phenomenon where the price of Bitcoin fills the price gap created between the closing and opening prices of the CME futures market over the weekend. In this case, the gap exists around the $23,300 level, which indicates a potential area of strong support. This observation aligns with the notion that Bitcoin tends to fill these gaps over time. While a retracement to $23,300 may cause concern among investors, Egrag Crypto emphasizes that it should be viewed as a healthy correction within the broader context of a bull market. Corrections are a normal part of any market cycle, and Bitcoin has historically experienced periods of consolidation and retracement before continuing its upward trajectory. Currently, Bitcoin is trading at $25,990, representing a 4% decline within the 24-hour period and a substantial 11% drop over the past 30 days. Despite these recent losses, the flagship cryptocurrency has successfully maintained its year-to-date gains, boasting a remarkable profit of over 29% since September 2022. Featured image from iStock, chart from TradingView.com

Following its partial victory over the United States Securities and Exchange Commission (SEC), Ripple seems to be turning its attention toward avoiding a repeat of such a lawsuit, as evidenced by its most recent job posting. Ripple Wants Compliance Talent Ripple is seemingly looking to improve its compliance with sanctions and regulatory developments through a more proactive approach. To this end, the payments processor is actively hiring talent to fill a role advertised as “Web3 Specialist, Global KYC & Due Diligence.” The job which carries an $85,000-$106,000 pay range is advertised to “be heavily focused on carrying out due diligence to mitigate regulatory, reputational and sanctions risks associated with Ripple’s institutional clients, counterparties and corporate partners to ensure compliance with Anti-Money Laundering (“AML”), Counter-Terrorist Financing, Economic Sanctions regulations such as the Bank Secrecy Act (“BSA”) and USA PATRIOT Act.” In light of these developments, Monica Long of Ripple in the US recently articulated the company’s strategy, saying, “We are very excited about this because we now have clarity on how Ripple will conduct its business in the future. And we are resuming operations in the US market.” This statement signifies Ripple’s intention to continue its operations in the United States. The recruitment also points to Ripple’s efforts to mitigate regulatory violations following its 3-year-long battle with the SEC. A Global Hiring Shift Reflects Ripple’s Ambitious Expansion Ripple has been one of the leading crypto firms that has continued to hire talent at a time when layoffs are the order of the day in the industry. GlobalData, a data analytics firm, reports that Ripple has increased its job postings by 26.9% during January-April 2023 compared to the same period in 2022. While the hiring trend in the US has declined slightly, Ripple has significantly ramped up job postings in Canada, Poland, India, and other countries. Sherla Sriprada, Business Fundamentals Analyst at GlobalData, noted at the time, “Ripple’s decision to primarily hire employees from outside the US reflects a strategic move towards global expansion, accessing international talent while also overcoming regulatory challenges in the US by diversifying its presence in other markets.” This means that despite its commitment to remaining in the US market, Ripple is actively going after talents in other jurisdictions. This points to a strategy of worldwide expansion instead of focusing on a single market. However, despite Ripple’s growth, its native XRP token has continued to struggle in the market. Coinmarketcap data shows that the altcoin is down 4.15% in the last day to trade at $0.5038 at the time of writing.

The debate surrounding the Bitcoin network’s energy consumption has been intense and mostly tilted in favor of BTC detractors. These individuals and entities have used the Cambridge Bitcoin Electricity Consumption Index (CBECI) to make an argument against the cryptocurrency. However, Cambridge has updated its CBECI to reflect new data, potentially flipping the discourse around Bitcoin’s sustainability. This report previously compared BTC’s energy consumption to some major European nations, but the revised models provide a deeper insight. Bitcoin Mining Data Evolves, Models Should Follow In an article called “Bitcoin Electricity Consumption: An Improved Assessment,” the institution provided the motivations behind the update. In addition, Cambridge acknowledged the difficulties in creating a methodology and getting the data due to BTC’s decentralized network. Moreover, the institution received expert feedback and evaluated energy consumption as just one of many items to create an accurate index. Cambridge has been working on this issue since July 2019 and launching other tools besides the CBECI to help track Bitcoin’s energy consumption, hashrate distribution, and greenhouse (GHG) emissions. The revised model uses data from BTC mining hardware manufacturers, governments, and other sources. This data affected estimations by looking into the distribution of newer mining equipment and the different energy sources leveraged by this nascent industry. The institution clarified: The chart below shows the new model’s discrepancies with the 2019 CBECI. In particular, the model differed from the 2021 model, when the Bitcoin price rallied, and mining profitability was high. Energy consumption at that time stood at 89 Terawatt per hour (TWh), according to the revised CBECI model. The old model showed a much higher figure at 104 TWh. The report stated: A Look Into The Future Cambridge expressed its desire to continue informing the public about Bitcoin’s energy consumption. However, the institution called the process “elusive” and committed to only providing approximated numbers on the nascent BTC mining sector. The report acknowledged the advantages of using Bitcoin mining to offset carbon emissions via different methods and its impact on noise disturbances, water use, and thermal pollution. This report is one of the many that have emerged over the past three months. Major consultancy company KPMG highlighted the benefits of using the cryptocurrency to push energy demand into its next era and generally attempted to tear down the myths surrounding the industry. KPMG and Cambridge’s efforts have been celebrated across the crypto industry. Daniel Batten, an investors in transparent and sustainable energy, stated: Cover image from Unsplash, chart from Tradingview, and Cambridge

Bitcoin has plunged towards the $26,000 level as on-chain data shows the Bitcoin mines have been participating in a selloff. Bitcoin Miner To Exchange Flow Has Spiked During The Past Day As pointed out by an analyst in a CryptoQuant post, the miners have been showing signs of selling recently. The relevant indicator here is the “miner to exchange flow,” which keeps track of the total amount of Bitcoin that miners are depositing to exchanges. Generally, these chain validators only make such transactions when they intend to sell, so the indicator’s value observing a spike can be a sign of a selloff. The below chart shows the trend in the 7-day moving average (MA) BTC miner to exchange flow over the past couple of weeks: As displayed in the graph, the 7-day MA Bitcoin miner to exchange flow has seen a huge spike during the past day. The quant has also highlighted the previous instances of high values of the indicator that occurred in the past two weeks. It would appear that the BTC price has generally registered a drawdown whenever the miners make large deposits to these platforms. With the latest spike in the metric, too, the cryptocurrency has taken a plunge, as its price has now returned back to the $26,000 level, completely erasing the recovery that the Grayscale rally had brought. It’s never a certainty that the deposits that these holders are making are indeed for selling, but given the timing of the price drawdown, it would appear likely that the miners were looking to sell after all. In the chart, the analyst has also attached the data for a few more metrics. First, there are the “miner inflow” and “miner outflow” indicators, which, as their name suggests, measure the amount of Bitcoin that the miners are transferring into and out of their wallets, respectively. From the graph, it’s visible that the BTC miner outflow spiked during the crash, which makes sense as the miners had made some transfers from their wallets toward exchanges. The miner inflow, however, had also registered high values at the same time, meaning that fresh coins had entered back into the wallets of these chain validators. This would suggest that some of the miners may have used the opportunity of the crash to expand their holdings. The “miner reserve,” the other metric of interest here, measures the total amount of Bitcoin that this cohort is carrying in its wallets right now and this indicator’s data would confirm that the holdings of the miners have actually gone up during the price drop. So, while some Bitcoin miners may have contributed to the selling pressure, others have more than made up for it by accumulating more of the cryptocurrency. BTC Price As mentioned before, Bitcoin has now seen a complete retrace of the returns from the latest rally, bringing the asset back to the $26,000 level it had previously been consolidating at.