DeFI News by Thebittimes.Com

Ethereum (ETH) is trading at a new all-time high as the second-ranked cryptocurrency by market cap continues to record a surge in capital inflow that has grown over $20 billion in the past day.  Specifically, the asset recorded an inflow of $23.61 billion to its market cap in the past 24 hours, rising from $573.50 billion to $597.11 billion by press time. This growth has also been reflected in price movement, with Ethereum trading at $4,927, nearly 4% higher on the day and up 9% over the past week. ETH one-day market cap chart. Source: CoinMarketCap Why ETH is rallying  Several catalysts have driven the rally. For instance, on August 24, entities holding between 1,000 and 10,000 ETH purchased $2.5 billion worth of tokens, the largest single-day inflow since 2018. Indeed, such whale accumulation usually points to a possible bullish sentiment.  At the same time, developers confirmed that the Fusaka hard fork will activate between November 5 and ...

Ethereum Ether (ETH) is currently one of the major cryptocurrency tokens that have been soaring in demand at the moment. The token is now eyeing major price spots at the moment, and some are even projecting a near 200% surge to $15,000 within the next year. With the asset already on its way to breaching $4,000, one analyst suggests that it could breach its current $4,891 ATH and nearly quadruple it in the near term. Tom Lee, veteran Wall Street strategist and CEO of Bitmine Immersion Technologies, predicts Ethereum will reach $15,000 in the medium term, highlighting several bullish indicators. Lee’s prediction is based on a model developed by his colleague Sean Farrell, which compares Ethereum to prominent crypto industry companies like Circle. Using EBITDA-based valuation multiples, Farrell estimates that Ethereum’s potential market value could allow its price to reach $15,000. Additionally, the analyst cites a technical Analysis by Mark Newton, Fundstrat’s head of technical strategy...

Sports betting platform Sharplink Gaming has become the largest publicly traded holder of Ethereum after announcing a $463M ETH treasury strategy. The company is amassing 176,271 Ether coins as part of its new strategy, opting for the Ethereum cryptocurrency instead of Bitcoin (BTC). The acquisition was funded through a blend of private placements and at-the-market equity sales, including $79 million raised since May 30. SharpLink is the first Nasdaq-listed company to adopt a treasury reserve policy centered on ETH. Sharplink quickly decided to stake most of its newly acquired Ethereum, around 95% according to reports. This approach generates yield and also bolsters the security of Ethereum’s network, aligning financial gain with contribution to the Ethereum network. Rob Phythian, SharpLink’s CEO, labeled the ETH acquisition as a“landmark moment” for both the company and the broader landscape of public companies embracing digital currencies. “Ether is now the cornerstone of our treasu...

World Liberty Financial, the decentralized finance (DeFi) project co-founded by US President Donald Trump, has started buying crypto again as the market recovers ahead of the first White House Crypto Summit tomorrow. In an X post earlier today, on-chain analytics platform Spot On Chain said that World Liberty Financial spent about $21.5 million buying Ethereum (ETH), Wrapped Bitcoin (WBTC) and Movement (MOVE) in the last 24 hours. World Liberty Financial Moves Millions Of USDC Ahead Of Crypto Buys On-chain data shows that World Liberty Financial bought 4,468 ETH at $2,238 per coin and 100.6 WBTC at $90,420 per coin, each transaction worth about $10 million. It also bought 3.42 million MOVE for about $1.5 million. Prior to the recent purchase, World Liberty Financial moved 25 million USD Coin (USDC) to a new multi-signature wallet. After the recent transactions, this wallet still holds 3.5 million USDC, leading to speculation of more purchases in the pipeline. Market Rebounds As...

The cryptocurrency market has several kinds of investors, including retail, institutional, and whales. While retail investors include the average Joe, institutional investors are bigger firms. Institutional Investment in XRP: A Comprehensive Analysis According to a recent study conducted by international strategic consulting firm EY-Parthenon, more than 20% of institutional investors admitted to investing in XRP . Study Participants and Demographics 277 institutional investors, including portfolio managers, CEOs, and COOs, participated in the study. The respondents were asset owners, hedge funds, wealth managers, family offices, and asset managers. EY report on corporate crypto investment in'24 (May). About 80% of respondents were US & EMEA. Among current holders, #XRP holdings ticked up to just above 20%.https://t.co/CgQpQL6f34 pic.twitter.com/APIUByJcQ9 — WrathofKahneman (@WKahneman) August 25, 2024 At least 147 of them were from the United States, and about 90 respondents we...

Ethereum went from $1,300 to $1,595 in less than a week and is attracting heavy bullish sentiments in the indices. The Altcoin breached its resistance levels of $1,500, briefly testing the $1,600 mark on Tuesday. The overall crypto market cap reclaimed the $1 trillion mark as Bitcoin saw an inflow of more than $70 billion. The inflows come from both retail and institutional investors as the ‘Fear & Greed Index‘ came out of ‘Fear’ for the first time in nine months. Also Read: Why Is the Crypto Market Up Today? Ethereum Price Prediction: ETH To Reach $1,800 Next? Source: Unsplash Ethereum price triggered a strong increase at the $1,450 level where it found resistance and got a breakthrough catapulting to $1,500. ETH cleared its resistance zone at $1,500 surpassing $1,550 on Tuesday after spiking nearly 5% within hours. However, ETH faced resistance near the $1,600 zone before briefly retracing in price during the day’s trade. Non ETH eless, ...

On Tuesday, Bitcoin went on to re-claim $18,000. As observed, the said level was last seen on November 10. Bitcoin flipped the resistance around $17.2k into support and went on to attain the high. The asset’s price is currently above its 50 EMA on its daily price chart. Source: TradingView Ethereum’s tale was also som ETH ing similar. The market’s second-largest crypto asset appreciated all the way up to $1349 yesterday to trade around its November 10 levels. A recent tweet from Santiment revealed that traders got “overly excited” to buy. However, as euphoria peaked, prices started sliding downwards. The largest cryptos were trading at $17774 and $1320 at press time. As depicted below, the week-high euphoria, while fear stayed low, created a clear FOMO top signal. Elaborating on the current state of affairs and chalking out what is necessary for the prices to continue staying high, the analytical platform’s tweet noted, “ Crypto...

Crypto asset prices have mostly remained unchanged over the past day. Data from CoinMarketCap revealed that the aggregate value of all cryptos rose by merely 0.1% in 24 hours. Likewise, Bitcoin’s uptick amounted to merely 0.04%, while for Ethereum, the number stood at 0.3%. Irrespective of the price monotony, market participants have been adding Ethereum to their bags. The cumulative shark and whale HODLings are now up to pre-Merge levels, thanks to the 561k tokens added between December 5 and 6. Chalking out the monthly number, Santiment’s latest tweet noted, “Whales and sharks are adding more Ethereum while prices fluctuate around $1,230. The key shark and whale addresses (holding 100 to 1m ETH ) own two-thirds of the coin’s overall supply, adding 2.1% more collective coins to their bags in the past month.” Source: Santiment Also Read: Ethereum, Ripple Are Committing Securities Fraud: Michael Saylor Parallelly, the exchange net flows are curr...

Shiba Inu transformed the perspective for the meme coin sphere. Due to a large number of partnerships and a sizable community, the asset reached its peak. SHIB has kept abreast of current events. Amid mounting community and partner interest, a rise in the price of SHIB has been difficult. Without a doubt, the failure of FTX contributed significantly to the market’s decline. Shiba Inu went down with other cryptocurrencies. However, the whale interest in SHIB has always stayed at its peak. As per the data from WhaleStats, Shiba Inu has entered the top 10 purchased tokens list among the 5,000 biggest ETH whales in the last 24 hours. Some of the other tokens on the list include SmartCredit, ANT, cbETH, MATIC, and COV. JUST IN: $SHIB @Shibtoken now on top 10 purchased tokens among 5000 biggest # ETH WHALES in the last 24hrs 🐳 We've also got #SMARTCREDIT, $ANT, $cb ETH , $MATIC & $COV on the list 👀 Whale leaderboard: https://t.co/kOhHps8XBB#SH...

It would appear that a majority of investors have their money against the markets. According to Coinshares’ Fund Flows Weekly Report, short investments represented 75% of fund inflows. The Analysis firm attributed this negative sentiment to the FTX collapse. Bitcoin (BTC) saw inflows of $14 million, but when considering short investments, net flows were a negative $4.3 million. Short-Bitcoin assets under management are currently at US$173 million, not far from the peak of US$186 million. Ethereum ( ETH ) witnessed $14 million in inflows into shorts, a record for the asset. The crypto asset saw outflows totaling $0.8 million. The Shanghai update, which will permit the withdrawal of staked assets, has likely reignited doubt, the report added. Moreover, the FTX hack leading to large amounts of ETH being dumped might have had a hand to play. The report further noted that crypto assets under management were at their lowest in two years, at $22 billion. This falls in line with Bitc...

It has been a fortnight since the global crypto market cap traded above the $1 trillion mark. At the beginning of the month, as crypt prices recovered, the aggregate valuation found solace around the said threshold. Right after that, however, it noted a freefall of more than $200 billion. Owing to the futile stabilization attempts, the same stood at merely $756 billion at press time on Monday. Total Crypto Market Cap | Source: TradingView Bitcoin, Ethereum price On the price front, both Bitcoin and Ethereum have been replicating each other’s prices. Both the top assets slipped below their moving averages recently and have been trading in red of late. Alongside, both markets were also characterized by a lack of buying momentum. The same was confirmed by the undernourished reading of the Relative Strength Index indicator. After noting a daily decline of 4.4% and 11.32% over the past 24 hours, Bitcoin and Ethereum were seen exchanging hands at $16052 and $1121 at press time res...

As the crypto-verse has been dealing with the collapse of FTX, it was hit with yet another issue. This time, it was with regard to the Ethereum network. Ethereum [ETH] made quite some noise back in September following its shift from proof-of-work [PoW] to proof-of-stake [PoS]. Along with this, Ether staking garnered immense momentum. However now, the Ethereum foundation was facing the wrath of the community for the same. It was brought to light that the Ethereum Foundation took down Ether staking’s withdrawal schedule on social media. ETH staking withdrawals were expected to be opened around six months following the Merge. Right after the Merge occurred, the network affirmed that it would open within the next 6 to 12 months. While the community was eagerly waiting for this, the Foundation extended this to somewhere between 2023 to 2024. With constant revisions in the schedule and finally its abrupt removal, the community was enraged. 🚨Today in non-redeemable c...

Ethereum co-founder Vitalik Buterin was recently spotted at LABITCONF (Latin America Bitcoin and Blockchain Conference) Argentina. At the conference, Buterin was asked about his thoughts regarding Crypto.com’s 20% Shiba Inu (SHIB) reserves. Hearing this, Buterin first raised his eyebrows and then shared his thoughts. The first thing Buterin said was, “Wow. 20% in Shiba Inu.” Buterin then went on to say that it was impressive for Crypto.com to have that much SHIB. The 28-year-old programmer further added that he was impressed Shiba Inu still had a $6 billion market cap. However, the Ethereum co-founder did say that he does not understand the psychology of a person who holds $10 million in SHIB “right now.” Vitalik vs. Shiba Inu …. tensión Nuestro querido #VitalikButerin dice que no entiende la psicología de las personas que inviernten en #Shiba en este momento……@ShibaInuArmyArg qué tienen para decir a...

Over the previous weekend, 3000 ETH were sold, amounting to $3.75 million. Initially, many thought that the sale was triggered by Ethereum co-founder Vitalik Buterin. The sale was made hours after FTX and its affiliates filed for chapter-11 bankruptcy in the US. Many suspected Buterin because the wallet received many transactions from a doxxed address belonging to the programmer. Vitalik Buterin( @VitalikButerin) sold 3,000 $ ETH ($3.75M) on #Uniswap 2 days ago. His selling price is $1,250.3.https://t.co/3tsa4kaHNb pic.twitter.com/ZdWcOaL86Q — Lookonchain (@lookonchain) November 14, 2022 The 3,000 ETH were exchanged in various sums for USDC, USDT, DAI, and wrapped Bitcoin, but all of it was ultimately converted to USDC. However, Evan Van Ness, a long-time Ethereum developer, took to Twitter and said that Buterin is not the owner of the address. Van Ness called the development “fake news.” I asked @VitalikButerin He confirmed that this isn't his address...