$84,499.00
1.73%$1,876.66
2.05%$2.10
-0.30%$600.29
-1.54%$124.64
-1.31%$0.999867
-0.00%$0.171149
1.23%$0.673724
0.36%$0.237704
0.14%$1,876.58
2.12%$84,408.00
1.76%$3.99
-3.78%$13.66
0.34%$9.38
1.97%$0.267901
0.73%$2,245.36
1.98%$1.00
0.04%$19.14
0.42%$2.35
0.06%$0.0000123
-3.21%$0.165778
0.60%$82.47
-1.85%$4.09
-0.46%$6.19
-2.97%$304.55
-0.91%$4.58
-0.30%$1,877.05
2.04%$0.999967
0.04%$0.999279
-0.13%$0.689545
-4.45%$13.22
-3.18%$1,997.41
2.18%$28.02
-0.76%$218.14
0.05%$6.12
1.32%$5.26
-0.58%$0.0000075
2.32%$2.56
0.45%$1.045
-0.00%$0.107782
8.80%$47.65
-1.22%$84,533.00
1.68%$22.56
0.00%$34.31
4.37%$0.787183
0.43%$0.9982
0.10%$0.807605
1.88%$5.29
-1.27%$16.70
-0.53%$161.21
-0.59%$1.16
0.05%$10.30
1.57%$0.02283896
0.40%$1.00
0.00%$224.77
-1.04%$4.33
-2.08%$0.35911
2.49%$3.53
1.39%$2.81
-1.34%$3.09
-0.91%$84,404.00
1.52%$4.02
0.01%$0.066247
-1.54%$0.197788
-2.99%$0.185738
1.83%$0.494923
-1.57%$0.326472
-1.78%$10.89
-2.60%$84,394.00
1.72%$0.80459
19.48%$0.740844
-1.35%$0.45109
-3.95%$1,365.89
5.44%$0.402201
-7.07%$1,875.82
1.97%$1,953.30
2.26%$4.17
-12.40%$1.066
0.11%$0.066591
-1.88%$129.89
-1.23%$68.86
-1.40%$0.407709
-4.13%$1.00
0.01%$0.783804
0.03%$0.00001212
4.96%$2,121.50
2.00%$0.510836
-5.16%$0.600304
-3.13%$0.997917
0.03%$8.68
-1.59%$0.999409
-0.14%$0.172696
-0.92%$0.08732
-3.84%$14.65
-18.78%$0.01328255
-5.38%$0.81336
-1.72%$0.999214
-0.11%$0.8738
-1.51%$3,136.59
-1.48%$84,834.00
2.87%$6.93
0.00%$599.91
-1.58%$1,995.08
2.28%$0.999852
0.02%$0.537247
1.86%$2.25
-3.32%$3,131.74
-1.16%$0.0156371
0.58%$84,358.00
1.72%$0.648996
-2.00%$0.269846
-1.57%$41.08
3.88%$0.523953
-5.75%$0.999587
0.03%$0.00000066
-0.95%$0.170025
-1.31%$31.72
-1.70%$0.999553
-0.05%$159.91
-0.70%$0.382535
-1.19%$0.102699
-0.73%$1,957.14
2.22%$0.00005813
-2.22%$1.86
-7.49%$3.00
-1.41%$16.01
-0.04%$0.999533
-0.09%$136.81
-1.11%$1.80
3.90%$6.99
0.73%$0.01070616
-3.13%$0.140639
-1.42%$1.81
4.16%$0.997725
-0.06%$3.05
6.14%$0.071219
-5.85%$0.62981
-2.21%$83,467.00
1.71%$0.480435
3.28%$0.480603
-5.50%$0.509787
3.56%$0.999874
-0.03%$0.999535
-0.11%$0.248036
0.41%$2.87
-3.01%$0.00494792
3.95%$16.11
-0.53%$27.31
-2.99%$1,993.21
2.19%$0.17105
1.16%$0.00000044
0.46%$0.700647
-1.74%$84,422.00
1.66%$85,380.00
2.58%$0.145221
-5.68%$1,877.21
2.16%$0.999299
-0.06%$0.081714
1.11%$1.16
-2.62%$0.407986
-5.78%$1,878.64
2.10%$1.081
-0.10%$0.998503
-0.19%$1,877.61
2.23%$110.53
0.01%$0.04251822
-0.31%$0.372515
-13.88%$44.85
11.84%$6.05
-6.66%$0.00001959
-1.63%$5.43
2.68%$1.10
0.59%$1,959.68
2.22%$0.57862
-2.44%$84,338.00
1.77%$0.461955
-4.01%$0.00630916
-1.70%$0.00667774
-5.17%$0.174407
-0.17%$0.999011
-0.02%$0.197973
-2.90%$0.433052
-2.55%$0.822866
-3.08%$0.99832
-0.02%$0.361619
-3.72%$1,897.45
2.40%$0.00000161
-3.98%$1,874.59
1.95%$1.00
-0.27%$0.00005854
-3.09%$0.00375448
-1.92%$0.03166032
2.12%$0.00498771
-8.72%$2.82
-0.03%$0.03128804
1.24%$0.546082
-8.37%$119.63
0.59%$1.25
6.50%$1.44
-6.88%$1,860.40
2.20%$1,878.43
2.25%$0.00871202
-7.24%$0.23507
-2.77%$0.00047636
4.56%$1.19
-3.49%$0.237153
-4.12%$2.91
1.56%$3.58
1.16%$0.999569
0.06%$0.625851
-1.68%$22.37
-1.08%$84,376.00
1.74%$84,624.00
2.03%$1,981.44
1.95%$0.192713
1.33%$0.00296679
14.50%$3,119.24
-20.84%$2,054.59
2.18%$0.513971
0.89%$15.54
-3.20%$0.251545
-3.52%$2,039.25
2.12%$1.00
0.06%$0.117715
-0.32%$0.00323139
2.73%$0.02997285
-0.93%$1,874.88
2.87%$0.064121
-5.13%$0.03412619
-0.80%$1,698.04
1.86%$0.102916
-3.94%$21.14
4.16%$0.67997
-8.58%$0.506732
0.09%$0.087228
7.24%$0.943674
-11.87%$0.01141611
-0.23%$0.00219764
-4.95%$0.075058
-9.92%$2.20
7.95%$0.522386
-0.04%$0.0282859
-4.59%$84,687.00
1.87%$0.999587
0.00%$0.63101
-2.04%$0.99768
-0.15%$0.00235477
-2.63%$0.00456444
-4.13%Reading
Retail traders—and not institutional investors—were the main driving force behind yesterday’s Bitcoin sell-off, according to blockchain intelligence firm Chainalysis.
Cryptocurrency markets crashed on “Black Wednesday,” with Bitcoin dropping more than 30% before bottoming out near $30,000. Other major cryptocurrencies also saw massive drops of up to 50%.
In his latest “Market Intel Report”, Chainalysis chief economist Philip Gradwell pointed out that there were only four other days since 2017 when the end-of-day Bitcoin price fell by more than 25%.
Gradwell listed four key moments: The crash in December 2017 from Bitcoin’s peak of $20,000, the fall below $10,000 in February 2018, a continued drop to $4,000 in November 2018, and, finally, last year’s sell-off.
Cryptocurrency prices have plunged 30% or more this week across several assets. Our chief economist @philip_gradwell analyzed on-chain flows to investigate why, compare this crash to previous ones, and try to determine what could happen next. https://t.co/086VIJhyce
— Chainalysis (@chainalysis) May 19, 2021
With so many new entrants only recently joining the market, the vast majority were unprepared for yesterday’s volatility. What’s more, the data suggests that “much of the selling is from people with assets already on exchanges, who tend to be retail investors,” writes Gladwell.
The analysis also assumes that tokens sent to exchanges (inflows) are more likely to be sold. Conversely, tokens leaving the exchange (outflows) suggest that users are securing their holdings in a cold storage wallet for the long term.
Bitcoin has fallen by over 50% since April 14, the day crypto exchange Coinbase went public via direct listing on the Nasdaq. Dubbed “Coinbase Day” by the crypto sphere, Coinbase’s debut on the Nasdaq on April 14 was considered a watershed moment for the industry. “It speaks to more mainstream adoption on the horizon,” Dan Ives, managing director at Wedbush Securities, told Decrypt at the time. But, as they have done many times before, the winds in the crypto industry can change quickly. Bitcoi...
Analysts monitor these flows to draw bearish or bullish conclusions, respectively.
According to crypto analytics platform Glassnode, there was a massive surge in Bitcoin transferred to exchanges on May 19.
In fact, it was the largest single-day inflow since the March 2020 crash, when global markets collapsed due to the coronavirus outbreak.
The chart shows that roughly 299,000 BTC was moved to exchanges in 2020 as the coin’s price cratered. By comparison, holders transferred roughly half of that amount (162,700 BTC) to exchanges yesterday.
Though yesterday’s inflows were lower in Bitcoin terms, the dollar amount was nearly six times higher than in March 2020.
Roughly $1.65 billion worth of Bitcoin was moved to exchanges on March 13, 2020. Yesterday’s inflow was worth more than $6 billion thanks to Bitcoin’s price growth over the past year.
Bitcoin is currently trading hands at around $42,000, according to Nomics.
Dogwifhat organizers have given up on their goal of advertising the prominent Solana meme coin on the Las Vegas Sphere, over a year after nearly $700,000 worth of crypto was raised for the campaign. This comes after the token’s official X account hinted in late January that the dog would appear on the exosphere in Q1 2025. Late Monday, pseudonymous organizer GamesMasterFlex, also known as Edward, took to X (formerly Twitter) to state that the push to put the pup on the Sphere has ended, and that...
Grayscale Investments, one of the largest Bitcoin ETF issuers, filed to convert its existing private Digital Large Cap Fund to a publicly available exchange traded fund (ETF). It currently contains Bitcoin, Ethereum, XRP, Solana, and Cardano. The existing private fund, which is only available to accredited investors through private placement, heavily leans towards Bitcoin with a 79.4% weighting, at the time of writing. The rest includes Ethereum with 10.69%. XRP, Solana, and Cardano take up 5.85...
In February, North Korean hackers broke headlines with what is now regarded as the largest single hack in crypto history. The Lazarus Group stole at least $1.4 billion from Bybit and later funneled those funds to crypto mixers. "Someone had pulled off the biggest hack in [crypto] history, and we had a front-row seat," Samczsun, Research Partner at Paradigm, recalled in a blog post. The researcher said they witnessed the theft in real-time and collaborated with Bybit to confirm the unauthorized a...
