The global crypto market cap is $ with a 24-hour volume of $. The price of Bitcoin is $18,865.65 and BTC market dominance is %. The price of Ethereum is $1,540.05 and ETH market dominance is %. The best performing cryptoasset sector is Deflationary, which gained 12%.
The Right Place to Buy, Earn, Exchange and Borrow against Your Crypto.
Liquidations cross $100 million within 4 hours as BTC declines below $19k, Ethereum expects Paris upgrade as Bellatrix upgrade goes live and much more in this edition of CryptoSlate Wrapped Daily
Cover art/illustration via CryptoSlate
The biggest news in the cryptoverse for Sept. 6 includes liquidations crossing $100 million as Bitcoin falls below the $19k support, CryptoVinco accusing Saylor of sending 200K BTC to Coinbase, and Ethereum’s Bellatrix fork going live.
CryptoSlate Top Stories
Twitter user CryptoVinco convincingly alleged that Bitcoin maximalist Michael Saylor is the whale behind the movement of over 200,000 BTC to Coinbase back in July. He claimed that Michael Saylor was planning to sell all the transferred tokens.
One of the biggest #Bitcoin whales with over 200K+ $BTC sent ALL of their coins to exchanges.
I’m 99% certain this is Michael Saylor’s Bitcoin address, and they’re planning to sell everything.
When he soon sells, expect a bloodbath to the likes we’ve never seen ever before. pic.twitter.com/vx643TPAyg
— CryptoVinco (@CryptoVinco) September 5, 2022
Notwithstanding, the crypto community did not fully buy into his claims on the grounds that the said wallet address holds more BTC than Saylor’s MicroStrategy.
The sharp decline in BTC price below $19,000 on Sept. 6 saw over $100 million in Bitcoin liquidation within four hours, according to Coinglass data.
The ripple effect on the market was that about 100,000 traders reportedly lost over $407 million in the total daily liquidations.
Circe CEO Jeremy Allaire threw his weight in support of Binance’s move to convert users’ USDC holdings to BUSD. He said the decision was consistent with the converged dollar book model obtainable in leading exchanges like FTX and Coinbase.
Wintermute’s Gaevoy added that using a converged will make the market more liquid and easier for users to deposit and withdraw USDC from the platform.
Bellatrix, the first step towards the Merge was successfully activated today. The upgrade was triggered on the consensus layer by 73% of Ethereum nodes.
With a successful execution of the Bellatrix upgrade, the community is preparing for the Paris upgrade, which will mark the end of proof-of-work mining on Ethereum and usher in the Merge.
News of the successful execution of the Bellatrix upgrade helped Ethereum gain up to 6% as its price hit $1,680.
Since the start of September, Ethereum has gained 15.6% when snapped against Bitcoin. Looking into the ETH-BTC charts, it revealed that Ethereum traded at a high of 0.84 BTC since falling low to 0.49 BTC in June.
Cardano Co-founder Charles Hoskinson was accused of trying to milk Ethereum Classic after he proposed a 20% miner tax.
In response to the allegation, Hoskinson said that Ethereum Classic is “a dead project with no purpose.” He, however, advised users who were keen on using proof-of-work networks to turn to the Ergo blockchain, which most Ethereum miners said they would adopt after the Merge.
A Market Decipher report shows that the gradual shift from physical to digital collectibles has contributed to seeing the Sports NFT market double from $1.3 billion to $2.6 billion in 2022.
Annual growth projections in the study reveal that the Sports NFT market will likely reach $41.6 billion by 2032.
Bitcoin’s exchange flow metrics analyzed by CryptoSlate reveal that there is an overall decline in both inflows and outflows, though inflows are rising higher, indicating that more investors are cashing out.
CryptoSlate also considered the exchange heatmaps, which track total transfer volumes deposited and withdrawn from exchanges.
The exchange inflow heatmap shows high inflow volume during the bull market peak of December 2020, March 2021, and November 2021. Similarly, the exchange outflows peaked in the same period.
The analysis reveals that during bull market peaks, short-term holders bought Bitcoin while long-term holders were cashing out.
DBS CEO Piyush Gupta said the leading bank is working to extend its cryptocurrency services to over 300,000 investors across Asia, according to the Financial Times.
Only accredited institutional investors will be allowed to access the crypto offering as Singapore’s current regulatory measures restrict retail investors.
Bitcoin was down -04.49% on the day, trading at $18,891, while Ethereum was trading at $1,573, reflecting a decrease of -1.8%
Christian is a crypto-curious nerd who loves to investigate how protocols work under the hood. Christian is interested in DeFi protocol research, token economics, and on-chain analytics.
Become a member of CryptoSlate Edge and access our exclusive Discord community, more exclusive content and analysis.
Disclaimer: Our writers’ opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.
Bitcoin is a consensus network that enables a new payment system and completely digital money. Learn more
Ethereum is the community-run technology powering the cryptocurrency ether (ETH) and thousands of decentralized applications. Learn More
USD Coin (USDC) is a stablecoin fully backed by the US dollar and developed by the CENTRE consortium. Learn More
Ethereum Classic (ETC) is a continuation of the original Ethereum blockchain – the classic version preserving untampered history prior to the July 2016 DAO hack.. Learn More
Michael Saylor is the founder and principal shareholder of MicroStrategy. Learn More
Circle Internet Financial Ltd is a global internet finance company, built on blockchain technology and powered by crypto assets. Learn More
Binance is a global cryptocurrency exchange that provides a platform for trading more than 100 cryptocurrencies. Learn More
There have been $407 million in liquidations in the past 24 hours as Bitcoin tests the $19k support
Liquidations cross $100 million within 4 hours as BTC declines below $19k, Ethereum expects Paris upgrade as Bellatrix upgrade goes live and much more in this edition of CryptoSlate Wrapped Daily
Outside of the hacks and token collapses of this year, the merge has been one of the most discussed events and has been omnipresent in the last week as seen in IntoTheBlock’s word cloud for Ethereum news.
A governance proposal on Aave has been passed to suspend ETH borrowing following detailed simulations of high utilization of ETH caused by users attempting to receive an ETHPoW airdrop.
The price of LUNC keeps climbing higher amid the rollout of new features, including a token burn mechanism on swaps.
Since its launch in August 2020, Shiba Inu has been burned in a bid to cut its 1 quadrillion circulating supply. The milestone half way point is fast approaching.
CZ denies claims that Binance is owned by a secret Chinese agent, on-chain metrics suggest more pain ahead for long-term Bitcoin holders and much more in this edition of CryptoSlate Wrapped Daily
Helium’s market cap has drastically declined by over 50%, dropping from over $1 billion to around $490 million.
LUNA Classic developers have introduced high yield staking rewards and token burns in a bid to bring investors back.
So far, the Dogechain Twitter has not addressed concerns of token dumping just one day after DC airdrop distribution.
Ethermine is no longer processing blocks that include Tornado Cash transactions creating censorship at a protocol level
Beacon Chain validators holding 66% of the total stake would comply with sanction requests, igniting discussion on Ethereum censorship resistance.
Got a story tip? Email [email protected]
Disclaimer: By using this website, you agree to our Terms and Conditions and Privacy Policy. CryptoSlate has no affiliation or relationship with any coin, business, project or event unless explicitly stated otherwise. CryptoSlate is only an informational website that provides news about coins, blockchain companies, blockchain products and blockchain events. None of the information you read on CryptoSlate should be taken as investment advice. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own diligence before making any investment decisions. CryptoSlate is not accountable, directly or indirectly, for any damage or loss incurred, alleged or otherwise, in connection to the use or reliance of any content you read on the site.
© 2022 CryptoSlate. All rights reserved. Terms | Privacy
Please add “[email protected]“ to your email whitelist.
Stay connected via
