Author: Ocrypto

Wintermute Trading, a cryptocurrency trading firm, is divesting a significant amount of DYDX, a management token for the decentralized derivatives exchange, according to on-chain data. The data shows that Wintermute Trading has deposited 653,295 DYDX worth approximately $1.37 million on various exchanges in the last hours. The firm currently holds 2.5 million DYDX worth $5.26 million in its wallets. Launched in September 2021, the price of DYDX has dropped more than 92% from its all-time high of $27.78 in October 2021. The price of the altcoin in question is trading at $2.04 at the time of writing and has lost…

A new report by crypto analytics firm Kaiko has revealed that spot trading volumes on major crypto exchanges dropped significantly in the second quarter of 2023, reaching the lowest level since last year. The report, which analyzed data from a total of 20 crypto exchanges, showed that the spot trading volume of Binance, the world’s largest crypto exchange in terms of volume, fell by about 70% in the second quarter. Other leading exchanges such as Coinbase, Kraken, OKX, and Huobi also experienced sharp drops in spot trading volume, down more than 50% in Q2. However, the report also highlighted one…

The latest flavor of the month in some areas of the crypto market is to bet on microcaps that purport to be the second coming of popular meme coins for those who missed the boat earlier. Tokens like Pepe 2.0, floki 2.0, and bobo 2.0 – which were mostly issued in the past week and are passing themselves off as new versions of the popular Pepe, floki, and bobo tokens – have seen trading volumes jump to millions of dollars, attracted hundreds of thousands of dollars in liquidity and turned a few dollars to six-figure fortunes almost overnight. Most of these…

Binance, one of the leading cryptocurrency exchanges, has announced that it is fully supporting the upcoming network upgrade and Hard Fork of the Polygon (MATIC) network. Network upgrade and Hard Fork are scheduled to occur at Polygon block height 44,934,656 at around 07:00 on July 11, 2023. To ensure a smooth transition, Binance will temporarily suspend MATIC deposits and withdrawals from approximately 6:30 am on July 11, 2023. However, Binance users can rest assured that trading MATIC on the platform will not be affected during the network upgrade and Hard Fork. They will be able to continue trading MATIC without…

After several days of sitting quietly, bitcoin finally went on the offensive and broke above $31,000 earlier today. Most larger-cap altcoins have produced minor volatility in the past 24 hours, aside from LTC and BCH, both of which are down by over 3%. BTC Aims at $30K Again Last week was relatively calm for bitcoin as the asset it spent most of it trading sideways in a tight range between $30,000 and $31,000. That all changed on Friday, though, when the SEC reportedly issued a warning to all recent Spot BTC ETF filings, calling them “inadequate.” This has an immediate…

According to data analytics firm CryptoQuant, Bitcoin (BTC), the world’s largest cryptocurrency by market cap, is experiencing a significant upward trend in its accumulation by institutional entities. A Significant Uptrend Sees Bitcoin (BTC) Accumulation Institutional investors such as hedge funds, investment firms, and cryptocurrency private funds are accumulating more and more Bitcoin, signaling a strong interest in the digital asset even at current price levels. This, which took place at a time when Bitcoin was maintaining its relatively stable price, suggests that these institutions may view Bitcoin as a long-term investment despite the notorious fluctuations of the crypto market. Related…

After the popularity and use of cryptocurrencies have increased, some countries have a positive attitude towards the crypto industry, while some countries prefer prohibitive regulation. One of the countries that went on the path of prohibition was Belarus. In this regard, Belarus announced that it is working on a bill that would ban cryptocurrency transactions between individuals. According to this bill, citizens in Belarus will be allowed to trade cryptocurrencies only through official exchanges in the name of transparency and tighter control. In the announcement, the following statements were made regarding the draft that the Ministry of Internal Affairs of…

In the days when the SEC increased its pressure on the crypto money sector, the fact that big financial companies applied for spot Bitcoin ETFs one after another gave a breath of fresh air to Bitcoin and altcoins. After Bitcoin ETF applications, while BTC went up to $ 31,000, there were also great increases in altcoins. Now, while the eyes have turned to the SEC, which has not accepted the spot Bitcoin ETF application to date, the ETF report from the investment company Bernstein came. Bernstein analysts stated that the SEC’s stance on the spot Bitcoin ETF is difficult to…

BlackRock, the world’s largest asset management company, has re-applied by issuing its Bitcoin spot ETF application after the SEC’s warning. Nasdaq has again submitted a bid to launch a spot Bitcoin exchange-traded fund (ETF) in partnership with the world’s largest asset manager BlackRock and the leading US cryptocurrency exchange Coinbase. If approved, this ETF would be the first of its kind in the United States, where regulators have so far rejected or delayed dozens of Bitcoin ETF applications, citing concerns about market manipulation, investor protection, and custody issues. The SEC has approved only two bitcoin futures ETFs that track the…

Ripple, the company behind the XRP cryptocurrency, has released 1 billion XRP (worth approximately 453.7 million USD) from escrow accounts in multiple transactions. This is a routine process that happens every month to provide additional predictability to the XRP supply. Why Is Ripple Releasing XRP From Escrow Accounts? Ripple says it uses the escrow account system to provide transparency and certainty to the XRP market. The company locks up a large portion of its XRP holdings, ensuring that it cannot flood the market with excess supply and manipulate the price. However, the company also uses the loaded XRP in escrow…