π After the FTX crash, BTC investors were depositing coins at a historical rate of 106,000 BTC per month. This resulted in positive balance changes across all wallet cohorts, from shrimp to whales.
- Miners are clearly under stress having given away 7,761 BTC in the last week (9.5% of the balance held)
- Since the FTX crash (Nov 10), more than $1.04 billion worth of stablecoins have entered the exchanges.
- Stablecoins in smart contracts are depleting at a rate of $4.63 billion per month.
- Miners are clearly under stress having given away 7,761 BTC in the last week (9.5% of the balance held)
- Since the FTX crash (Nov 10), more than $1.04 billion worth of stablecoins have entered the exchanges.
- Stablecoins in smart contracts are depleting at a rate of $4.63 billion per month.
π Bitcoin Cash could become legal tender in St. Kitts by March, PM says.
coindesk.com
coindesk.com
π€ CryptoAttack π¬π§
π Due to loss of confidence in CEX, Uniswap trading volume increased, V3 and V2 burned over 2300 ETH in 7 days, resulting in deflation ETH. MEV activity has also peaked. The number of addresses trading USDC in the DEX also hit a new high.
π¦π CEO Nansen: The volume of transactions from ETH on Uniswap in the last 24 hours amounted to $1.11 billion, while the volume of ETH and USDT or USD pairs on centralized exchanges did not exceed $1 billion. Except binance
π Cosmos Hub's proposal for the revised ATOM 2.0 white paper has been rejected. mintscan.io
π¦ Citi: The correlation between stock markets and bitcoin is weakening. Last week, the S&P 500 gained almost 6% while BTC fell about 20%.
DEX volumes are up 30% since the start of the month, gaining market share over CEX.
DEX volumes are up 30% since the start of the month, gaining market share over CEX.
π€ CryptoAttack π¬π§
π¦ Citi: The correlation between stock markets and bitcoin is weakening. Last week, the S&P 500 gained almost 6% while BTC fell about 20%. DEX volumes are up 30% since the start of the month, gaining market share over CEX.
π DEX volume over the past seven days totaled $32 billion.
π£ mikemcglone: ββThe absence of a recession may come as a surprise in 2023 - the US and the world may be entering a period of downward revisions to inflation expectations, which is typical of recessions. The key difference is that the Fed is unlikely to ease policy as it has done in the past, leaving consumer price cuts as the main driver of the reset.
π Address FTX Accounts Drainer contains cryptocurrencies for ο½340 million dollars, including:
~$160K ETH (~$201M)
85.9 million stablecoins
$148,000 BNB ($41.7 million)
$10,000 PAXG ($17.8 million)
$145,000 SOL ($2 million)
Tether Blocked 30.9M $USDT on AVAX and SOL
Loss: -$28.6 million
~$160K ETH (~$201M)
85.9 million stablecoins
$148,000 BNB ($41.7 million)
$10,000 PAXG ($17.8 million)
$145,000 SOL ($2 million)
Tether Blocked 30.9M $USDT on AVAX and SOL
Loss: -$28.6 million
π Vitalik Buterin made several trades on November 12, selling 3000 $ETH on Uniswap for $USDC .
twitter.com
twitter.com
X (formerly Twitter)
MistTrackπ΅οΈ (@MistTrack_io) on X
Looks like @VitalikButerin made some trades recently, selling 3000 $ETH on @Uniswap for $USDC.
Wonder if the fud is getting to him too?π
Btw that's like $4M, so yeah his SIZE is size π
Wonder if the fud is getting to him too?π
Btw that's like $4M, so yeah his SIZE is size π
β In Q3, Bitfarms reduced direct production costs by 5% to $9,400 per BTC and sold 2,595 BTC for a total revenue of $56 million. 1,515 BTC mined in Q3 and 486 BTC in October. Since June 1, Bitfarms has paid off $94 million in debt.
globenewswire.com
globenewswire.com
π£ The founder of Waves filed for bankruptcy of Alameda and to resolve the crisis in relation to Vires Finance.
medium.com
medium.com
π£ CZ stated that Binance will cooperate with Buterin to launch a new platform reserve confirmation method, Binance will act as a pilot project.
π€ CryptoAttack π¬π§
β οΈ cz_binance: We will try to disable all API keys used by Skyrex
π Skyrex acknowledged the loss of the user through the compromise of the API key.
forklog.com
forklog.com
π£ CZ: Binance has no obligations, no assets are transferred for storage to third parties.
π€ CryptoAttack π¬π§
π₯³ CZ
π£ CZ: About 5 institutions contacted Binance to discuss the "Industry Recovery Fund".
πReport last week from Glassnode: FTX crashes.
The collapse of FTX is significant and has dealt a severe blow to the industry. This is a terrible event when the users of the platform are trapped and the funds entrusted to the custodian are lost. Ultimately, BTC and the industry will bounce back stronger.
The collapse of FTX is significant and has dealt a severe blow to the industry. This is a terrible event when the users of the platform are trapped and the funds entrusted to the custodian are lost. Ultimately, BTC and the industry will bounce back stronger.
Glassnode Insights - On-Chain Market Intelligence
The Fall of FTX
With the devastating collapse of the FTX exchange, the digital asset industry has experienced the most shocking insolvency of a custodian since Mt Gox. In this report, we analyze the FTX bank run, seeking of safety in self-custody, and the response of Bitcoin'sβ¦