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American Restaurant Chain Chipotle Starts Accepting Crypto Payments In The US

Uber Will Accept Bitcoin When It "Becomes More Environmental Friendly" – CEO Khosrowshahi

Merchants, corporations, and Fashion houses have decided to bet on crypto and innovation. Chipotle is the latest merchant to join this train as it now accepts crypto payments. Chipotle Now Accepts Crypto With The Help Of Flexa A leading restaurant chain renowned for its Mexican cuisine, Chipotle Mexican Grill (CMG), now accepts crypto payments for […]

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Feds Seize $34 Million In Bitcoin From Dark Web Seller – One Of The Biggest Seizures In US

Miami, a city known for its opulent lifestyles and cryptocurrency-friendly laws and mayor, has seen one of the most aggressive crackdowns on cybercriminals using bitcoin. Federal prosecutors confiscated roughly $34 million in cryptocurrency from a man in the southeastern part of Florida. The bitcoin fortune was amassed by a Parkland resident suspected of exploiting the […]

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Blockchain middleware protocol Pocket Network expands global availability

Pocket Network, an infrastructure middleware protocol that facilitates decentralized cloud computing and abundant bandwidth on full nodes to other applications in Web3 across 37 blockchains, including Ethereum, Polygon, Avalanche, Solana, Fuse, and Harmony, announced today its decentralized node infrastructure has expanded globally across 6 continents and into 30+ countries. This degree of geo-availability at the […]

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Bitcoin Inflows Suggest Institutional Investors Are Moving Back Into The Market

Bitcoin and the crypto market at large had suffered outflows that coincided with the massive sell-offs that rocked the market. This contributed to the downtrend that saw bitcoin touch towards six-month lows while investors who had gotten into the market later suffered massive losses. This outflow trend is beginning to reverse so as bitcoin and other digital assets begin to record inflows after a long drought. Bitcoin Inflows Back Up The past week for bitcoin has been an encouraging one. The digital asset is nowhere near its previous highs but had managed to recover from its recent lows. It had run up to $38,000 once again, reinstating some level of faith back in the market. On the institutional investors’ side, this trend, albeit a bit slower, is the same as investors begin to gradually move back into the cryptocurrency. Related Reading | Bitcoin Funding Rates Remain Negative For More Than A Week In the latest CoinShares report, we see that bitcoin has begun to record market inflows once more. This is a deviation from the end of 2021 and the beginning of 2022 where outflows reached record highs. Greatly impacted by the minutes released by the Fed, bitcoin alone had recorded outflows to the tune of $107 million in a single week, setting a new record. BTC recovers from market crash | Source: BTCUSD on TradingView.com However, in the past two weeks, the tide is turning towards inflows as CoinShares reported the first week of inflows after massive outflows. This past week continues to mirror this trend as inflows have continued. Inflows to bitcoin were reported to total $22 million for last week. A small number compared to what had become the norm by the third quarter of 2021, but a reassuring figure nonetheless. It’s a step up from last week when BTC’s total AuM crashed to a six-month low of $29 billion. Altcoins Continue To Suffer Altcoins have not mirrored this movement of bitcoin this time around. Instead, altcoins continue to bear the brunt of the market onslaught as outflows continue to be the order of the day. Leading altcoin Ethereum has now marked its 8th consecutive week of inflows. In this time period, the altcoin has seen a total of $272 million flow out of the week, marking some of the highest negative sentiment towards the digital asset. Related Reading | The Uber Rich Investors Are Picking This Altcoin Over Bitcoin Other altcoins like Cardano, Solana, and Polkadot, which are fast-becoming investor favorites, did not fare well for the week either. All of these digital assets saw another week of outflows. Multi-asset funds and Blockchain equity investment products deviated from the performance of altcoins. Following in the footsteps of bitcoin, each of them recorded inflows for the week, $32 million for multi-asset funds, and $15 million for Blockchain equity investment products. Featured image from Bitcoin News, chart from TradingView.com

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Small-Time Ethereum Holders Hit New High As Sentiment Turn Positive

The number of Ethereum small-time holders is on the rise. With each passing month, as more investors move into the market, ethereum has snatched some of the largest market shares. This is evidenced in the growth rate of the network, as well as the amount of ETH being held by investors on their balances. This time around, the number of ETH small-time holders has hit a new record. Holders Holding More Than 0.1 ETH At ATH Glassnode reported on Monday that the number of small-time Ethereum investors holding more than 0.1 ETH on their balances had touched a new high. This easily follows the trend of adoption that the ethereum network has seen in recent times. These small-time holders clocked in at a new high of 6,823,620 on Monday. Related Reading | The Uber Rich Investors Are Picking This Altcoin Over Bitcoin Although the growing adoption of the network is billed as one of the major driving factors behind this, it is can also be a result of the growing gas fees on the network. For one, ethereum transaction fees can run above $100 on bad network congestion days, which can be often, so investors would need about 0.1 or above to complete transactions on the network. This trend of wallet balances hitting new all-time highs follows the accumulation trend of ETH though. During the market crash, Ethereum whales had bought over $500 million worth of ETH. Smaller investors had followed this move and increased their holdings, leading to a new all-time high in the number of wallet addresses holding 1 ETH and above on their balances. Ethereum Follows Market Sentiment The recent uptick in the number of addresses holding more than 0.1 ETH has followed market sentient. Since the crash, market sentiment had dived into the deeply negative, indicating that investors were wary of putting more money into the market. However, this has started to change as most digital assets have recovered a bit from the crash, as evidenced by the Fear & Greed Index. ETH trading at $2,746 | Source: ETHUSD on TradingView.com After hitting one of its lowest point, the Fear & Greed Index had begun to recover. Maintaining about a week in the extreme fear territory, it has now moved out of it and into fear as faith in the market continues to recover. Currently, the index is sitting at a score of 26, 15 points up from its low of 11. Related Reading | Terra Recovers As It Posts 10% Gain In The Last 24 Hours On the price side, ETH has continued to maintain its position above $2,700. The digital asset has built significant resistance at this level but remains vulnerable to drawdowns if bids do not continue to hold up. Its next significant resistance level is at $2,780, a point which it would have to beat if the uptrend is to continue. Featured image from Financial Times, chart from TradingView.com

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The Uber Rich Investors Are Picking This Altcoin Over Bitcoin

For many years and likely many years to come, bitcoin has been the number 1 digital asset for investors, especially those looking to invest in the long-term. When big money started entering into the crypto space, bitcoin was the first stop before it diversified into other assets. However, as time as gone by and more altcoins are beginning to gain popularity, bitcoin is losing its hold as the number 1 choice for investors. A recent survey that featured respondents from the ultra-wealthy class showed that they did not favor bitcoin as their first choice. Rather, they picked an altcoin whose growth has rivaled and even surpassed that of bitcoin since its inception. Ethereum Comes On Top Crypto.com revealed that the wealthy are gradually moving away from bitcoin. Their obvious choice besides the leading cryptocurrency is ethereum, which is currently the second-largest cryptocurrency by market cap. The numbers provided by the crypto exchange showed that ethereum has made its mark on the wealthy. With its broad range of use cases and applications, like decentralized finance (DeFi) and NFTs, the value of the cryptocurrency has shot up exponentially. And with that has come more confidence from investors. Related Reading | Ethereum Bullish Signal: Number Of Holders With 1 ETH Touches New ATH Crypto.com reached that that ethereum beat out bitcoin by 1% when it comes to the number of high-value investors going into crypto. Bitcoin came out at 33%, while ethereum made the top of the list at 34%, proving to be the preferred digital asset for investment purposes. Crypto funds came in third at 23%, other altcoins dominated at 15%, while Dogecoin, surprisingly, made the list with 2% of investors wanting to invest in the meme coin. The crypto exchange also noted that about 1 billion people are expected to be invested in the crypto market by 2022. By the look of things, ethereum may see a larger share of investors compared to bitcoin. But Why ETH? Well, for those investing in the crypto space, there could be a number of factors. One is the low-interest rates offered by banks and returns from traditional investment avenues like stock and bonds being too low to combat the inflation rate. So in order to keep inflation from eating away at their wealth, these investors have chosen the crypto market for their needs. ETH recovers to $2,600 | Source: ETHUSD on TradingView.com Bitcoin had been the inflation hedge of choice for years before now. But all of that is changing as the ethereum network has taken major steps towards becoming deflationary. President and Founder of TIGER 21, Michael Sonnenfeldt, notes that the high inflation rates are what is pushing the uber-wealthy investors towards crypto, and by extension, ethereum. “Like all investors, the super-rich are concerned about inflation and are looking to preserve their wealth in 2022,” said Sonnenfeldt. Related Reading | Ethereum Whales Quietly Filled Up On ETH While Broader Market Panicked Likewise, another member of TIGER 21 explained that investors are starting to favor ethereum over bitcoin. Additionally, similar projects like Solana and Avalanche are also enjoying this support. “I am very bullish on both Bitcoin and ETH. My personal assessment is that the tide is turning in favor of ETH. I also like Ethereum alternatives like Solana and Avalanche.” – Andy Sack, member of TIGER 21. Featured image from The DO, chart from TradingView.com

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DAOs: Social networks that can rewire the world

Exploring the new world of decentralized autonomous organizations Around the Block from Coinbase Ventures sheds light on key trends in crypto. Written by Justin Mart & Connor Dempsey. What the internet did for communication, DAOs can do for capital. The internet and social networks have made it easier for like minded individuals to communicate than ever before, […]