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Amidst a dip in NFT sales this year compared to the highs of summer 2021, brands like Casio and celebrities such as Caitlyn Jenner are demonstrating continued faith in the potential of digital collectibles. Statistics show that NFT transactions are significantly lower this year. In addition, once valuable NFTs are now being sold for much less than what they were purchased for a few years ago. For example, CryptoPunk #5822, which holds the record for the most expensive CryptoPunk sale, sold for 8,000 Ether in 2022, valued at around $23 million at the time. On August 19, the NFT was transferred to an anonymous crypto wallet for an undisclosed amount. However, this downward trend hasn’t deterred everyone from engaging with NFTs.
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Celsius granted Tether‘s request, but the collateral was again threatened. The lawsuit says that while the lending platform was raising funds during the period specified in the contract, the USDT issuer liquidated the entire collateral within hours. According to the lawsuit, “amidst the chaos,” on June 13, 2022, then-former Celsius CEO Alex Mashinsky allegedly permitted Tether to liquidate the collateral in an orderly manner. However, the platform noted that the lender never received written consent: Tether’s efforts, of course, are now subject to intervening federal bankruptcy law. Thus, these preferential and fraudulent transfers of Bitcoin should be avoided, and the Bitcoin or its value should be recovered for the benefit of Celsius’s estate.
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Digital asset manager Grayscale has confirmed its two spot Ether exchange-traded funds (ETFs) have officially started trading on the NYSE Arca, marking a “milestone” moment for its investors and the wider ETF market. The launch comes one day after the United States Securities and Exchange Commission (SEC) signed off on the final approval for spot Ether ETH tickers down $3,461 ETFs, allowing several issuers to launch their products for trading. In a July 22 X post, Bloomberg analyst James Seyffart reported that the Grayscale Ethereum Trust (ETHE) had not yet received official effective documents from the SEC, but expected it to come on the morning of trading commencing. ETHE is currently the world’s largest Ether-based exchange-traded product, with $9.19 billion worth of ETH in its holdings. ETHE will charge investors a 2.5% management fee.
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XRP surged 12% to extend weekly gains to over 40%, beating other major tokens. A bullish triangle pattern on XRP's long-term price charts and a substantial increase in open interest suggest more upside in the coming weeks. XRP surged 12% in the past 24 hours to lead gains among crypto majors, beating bitcoin (BTC) and the broader CoinDesk 20 (CD20) index. The token added 5% since the start of Asian trading hours on Wednesday to extend seven-day gains to nearly 40%, making it the best-performing major despite favorable regulatory developments for ether (ETH) and demand for meme coins. "XRP has been performing worse than the market for a long time, but the reversal of sentiment in crypto has sparked a rise on steroids in the once-largest altcoin. On the latest bounce, the price rose to 60 cents, its highest since April. This is an attempt to jump back into the uptrend of the past two years, " Alex Kuptsikevich, FxPro senior market analyst said.
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The crypto assets market has grown remarkably over the past 15 years, peaking at a $3 trillion valuation in 2021, with over 26,000 listed cryptocurrencies. This growth has attracted retail and high-net-worth investors, family offices, university endowments, and even pension plans. The entry of reputable TradFi firms such as Goldman Sachs, Fidelity, and Blackrock into the crypto space underscores the growing institutional acceptance and maturity of digital assets and has facilitated broader market participation. Despite the strong demand for digital assets, there is still debate as to how to best to gain optimal exposure and manage risks. Many investors hold cryptocurrencies like Bitcoin or Ether, or have invested in spot BTC ETFs, but a third option exists: crypto index funds. These funds offer diversified exposure to digital assets.
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Bitcoin (BTC) bulls may have reason to celebrate in the coming weeks as they could lift the price of the largest cryptocurrency after months of declines and range trading. Since March 4, BTC has traded in a range of $59,000 to $7 billion (74,000), driven by a 10 billion yen increase in sales, imminent sales pressure, outflows from exchange-traded funds (ETFs) and spikes in negative sentiment among retailers. However, the historically optimistic 7-month period may soon change the situation. On the first day of May, the US-listed Etf recorded inflows of nearly €130 million, the most since early May, following outflows of €900 million, or more than €6 million, in March. “The average return of Bitcoin in January was 9.6%, and it is trending towards a significant recovery, especially after a negative month (-9.85%),” Singapore-based QCP Capital said in a telegram broadcast on Monday. "Our options sector also saw increased flows last Friday, possibly in anticipation of the launch of the ETH Spot ETF.
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Bitcoin trading volume plunges to record lows over the weekend, Bloomberg reports. The share of bitcoin traded over the weekend has fallen to a record low of 16% this year, according to research firm Kaiko. The drop came on the heels of the launch of spot funds traded on bitcoin exchanges, which appeared to change bitcoin trading periods to more closely match those of traditional stock exchanges and reduce its price volatility.
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Like many so-called “Ethereum ETH tickers down $3,450 killers,” the Solana SOL tickers down $146 blockchain has yet to deliver on its promises in any meaningful way. Despite being theoretically fast and scalable, the network has a history of repeated network outages that are never fully resolved. It does not perform adequately under full network capacity. It’s supposed to process 50,000 transactions per second (TPS), but peaks around 1,000 TPS under real-world conditions — with 30-60 second waiting times. While impressive by blockchain standards, it’s nowhere near the commonly advertised speed, and it’s irrelevant in the context of never-ending network congestion.
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Bitcoin BTC tickers down $60,916 mining heavyweight Marathon Digital revealed it has mined $16 million worth of Kaspa (KAS) — a token designed to address Bitcoin’s scalability problem — since September to diversify from Bitcoin. In a June 26 announcement, Marathon Digital said the move allowed the firm to “capitalize on the higher margins” possible with Kaspa mining machines, which are up to 95% in some cases. “By mining Kaspa, we are able to create a stream of revenue that is diversified from Bitcoin,” explained Marathon’s chief growth officer, Adam Swick. “Marathon was uniquely positioned to mine Kaspa and to capitalize on the higher margins that exist for those who can deploy Kaspa ASICs today.”
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The official X account for heavy metal band Metallica was hacked with the exploiters using the breach to promote a Solana token with the ticker METAL. Metallica’s team appears to have regained control of the account and has deleted all posts mentioning the token. Metallica’s X account first posted about the token in a June 26 post, claiming it was made in partnership with Ticketmaster. It was actually launched on the Solana-based token deployer pump.fun. Ticketmaster did not make an announcement about the partnership and did not immediately respond to a request for comment.
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QCP Capital believes that the bullish trend is supported by several market developments, including the fact that the US Securities and Exchange Commission (SEC) has completed its investigation into the status of ether and will not bring charges of unregistered securities sales. In addition, issuers of Ethereum ETFs have already received comments from the regulator and will provide their responses within a few days, which supports positive sentiment in the market, QCP Capital experts noted. In their opinion, in the near future we should expect increased volatility of ether in the options market, which may exceed the volatility of Bitcoin. QCP Capital suggests that the hype around ETH-ETF is due to expectations of significant inflows of funds, as happened after the launch of Bitcoin ETFs. Earlier, the co-founder of the American company Tether, William Quigley, said that the greed of large American financial conglomerates will ensure the emergence of new cryptocurrency spot exchange-traded funds on the market.
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Investing.com - The ETH/USD token has risen on rumors that the regulator - the SEC - will stop investigating the blockchain, which will weaken control over its ecosystem, writes Bloomberg. An SEC investigation into the Ethereum Foundation's ETH blockchain has revealed uncertainty over whether the token is an unregistered security, potentially reducing demand for the digital asset. The ETH developer announced that the SEC's enforcement division has notified that it has closed its investigation into the Ethereum 2.0 blockchain. In early June, blockchain developers sent a letter asking the SEC to confirm that May's approval of ETH-ETFs based on ETH being a commodity meant the agency would close its investigation into Ethereum 2.0. However, SEC Commissioner Gary Gensler has been ambivalent about whether Ethereum is a security, raising concerns that the token and projects based on its blockchain are subject to the agency's strict and costly rules.
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During a discussion with Bitcoin podcast host Robin Seyr, Michael Saylor stated that Bitcoin could be called the perfect means of payment and the future of the financial system. According to him, from an economic point of view, everything that came before Bitcoin became obsolete after its appearance. Michael Saylor emphasized that China will also definitely accept cryptocurrency, like most companies in the world. According to the investor, if corporations want to extend their life in the global market, they will have to recognize and accept cryptocurrencies as a profitable investment tool. Earlier, MicroStrategy, one of the largest publicly known holders of Bitcoin in the world, reported to the US Securities and Exchange Commission (SEC) that it had acquired an additional 11,931 BTC for $786 million.
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God created the cat so that man would have a tiger to pet.
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