The liquidators of Three Arrows Capital (3AC) have taken legal action against TerraForm Labs, claiming that the bankrupt digital assets company manipulated the market for Luna and TerraUSD. According to the liquidators, this manipulation resulted in artificially inflated prices for these tokens, ultimately leading to heavy losses for 3AC. In January 2022, 3AC invested $190
Crypto
The current state of the market has not been kind to new Bitcoin investors, as indicated by various metrics highlighting a bearish environment. One such metric, the Short-Term Holder MVRV (Market Value to Realized Value) ratio, focuses on the fair market value of BTC compared to its realized price for the newest cohort of investors.
The US spot Ethereum ETFs saw a substantial total inflow of $4.9 million on Monday, showcasing a positive trend in the market. One notable highlight was the Grayscale Ethereum Trust (ETHE) which saw no withdrawals for the first time since its conversion to an ETF. This comes after experiencing 14 days of outflows, indicating a
Sui (SUI) has experienced a remarkable 70% increase in price over the course of the last week, reaching around $1, according to data from CoinGecko. This surge in price can be attributed to the launch of Grayscale’s Sui Trust, as well as the introduction of the Bittensor Trust. The entry of these institutional investment products
Ethereum has shown remarkable resilience in the face of the recent market downturn, attracting a significant amount of investor interest. Data reveals that Ethereum has seen $155 million in inflows over the past week, with total year-to-date inflows reaching $862 million, the highest since 2021. This surge in investment can be attributed to the introduction
Recently, Binance announced the delisting of six altcoins from its platform, leading to significant price drops for these assets. This move by the world’s largest cryptocurrency exchange has triggered sharp price crashes in the past due to various reasons such as reduced liquidity and market panic. Binance periodically reviews each digital asset listed on its
An analyst at CryptoQuant has recently pointed out that Ether (ETH) might be on the verge of a rally, based on data from the cryptocurrency’s futures market. The analyst, Shayan, highlighted a significant liquidation event in the ETH market, which historically has been followed by price rallies as spot buying pressure takes over. In recent
XRP, the cryptocurrency associated with Ripple, experienced a significant price surge last week after a court ruling in the Ripple v SEC case. The price of XRP skyrocketed by 20% in a single day, reaching nearly $0.64, with its market capitalization exceeding $35 billion. This surge came shortly after a court ruling that required Ripple
As bitcoin continues its retreat, analysts are closely monitoring the liquidity heatmap to determine potential price movements. The liquidity heatmap, provided by CoinGlass, indicates key first-test lines at around $56,800. If BTC prices bounce off this level, it may test higher ones. However, a weaker bounce could result in further downsides. The liquidation heatmap, on
Bitfarms, a Toronto-based Bitcoin mining company, recently reported a total revenue of $42 million for the second quarter of 2024. This figure represents a 16% decline from the previous quarter. The decrease in revenue is largely attributed to the reduction in block rewards following the BTC halving event that took place on April 19, 2024.
Santiment recently released a ranking of the top digital assets based on notable development activity in the last 30 days. Internet Computer (ICP) emerged as the leader with an overall score of 570.1. This is a significant achievement for ICP, considering its market capitalization of almost $3.5 billion. Following closely behind are Hedera (HBAR) and
Bitcoin’s price movements over the weekend have returned to a much calmer state, with the asset remaining relatively stable at just over $61,000. Last weekend saw bears dominating the market, causing the primary cryptocurrency to drop from $66,000 on Friday to $57,000 by Sunday evening. The situation worsened on Monday when the price plunged to
Leading European investment company CoinShares has reported a significant increase in revenue for the second quarter of 2024. The company’s earnings reached an impressive £22.5 million ($28.5 million), representing an exceptional 110% year-over-year growth. This substantial growth was primarily attributed to CoinShares’ claims on FTX bankruptcy proceedings which resulted in a recovery rate of 116%
The past week was tumultuous for the spot Bitcoin ETFs, with massive outflows totaling $167 million. This negative trend was evident throughout the week, with only two days of inflows amounting to $45.1 million on Wednesday and $194.6 million on Thursday. Grayscale’s GBTC saw the most significant outflows of $77 million, followed by Ark Invest’s
