Bitcoin miners hodl 27% less BTC after 3 months of major selling

According to a fresh prediction from crypto analysis firm Arcane Research, miners will continue to sell more BTC than they earn. Miners sold nearly 30% of record BTC stash since May The trip to $25,000 this month decreased pressure on a Bitcoin mining sector which has struggled throughout 2022. At one point, fears abounded that miners’ production cost was far higher than the Bitcoin spot price, and that heavy sales would result in order for miners to stay in business. Worse still, many may have to retire altogether due to…

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Court filings reveal Celsius will run out of money by October

Embattled crypto lender Celsius Network is on track to run out of money by October, according to the firm’s latest Chapter 11 documents. Filed on Aug. 14 to the U.S. Bankruptcy Court of the Southern District of New York, Celsius highlighted that it is expected to reach negative liquidity by October 2022 to approximately $34 million. The lending platform, which held the trust of many across the world with life savings and retirement funds, was revealed to be in a much worse financial position than originally suggested in July. Court…

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Do Kwon breaking silence triggers responses from the community

As the Terra (LUNA) co-founder and CEO Do Kwon breaks his silence about the collapse of the algorithmic stablecoin Terra USD (UST) and LUNA, the community responded with various sentiments against the Terra executive.  Despite Kwon’s attempts to clear his name in an interview, community members remain unhappy with the Terra CEO. In a tweet, podcaster Eric Conner compared Do Kwon’s situation with the Tornado Cash developer who has been arrested. According to Conner, Kwon scammed billions and is still “partying” while Tornado Cash developers wrote some code for privacy…

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Crypto lender Hodlnaut seeks judicial management to avoid forced liquidation

Singapore-based crypto lending platform Hodlnaut is seeking judicial management to manage its ongoing liquidity crisis and avoid the forced liquidation of assets in the current bear market. The crypto lender informed its users in a Tuesday announcement that they have applied to the Singapore High Court to be placed under judicial management. The firm said: “We are aiming to avoid a forced liquidation of our assets as it is a suboptimal solution that will require us to sell our users’ cryptocurrencies such as BTC, ETH and WBTC at these current depressed asset prices.…

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Blue chip NFT performance fails recovery, but investors HODL even harder

The market performance of blue chip nonfungible tokens (NFTs), often considered a good long-term investment, revisited its all-time low range for the second time since June 2022 — falling down below 10,000 Ether (ETH) in the blue-chip index maintained by NFTGo. Blue chip NFTs marked their best performance not too long ago, on April 29, amounting to nearly 14,900 ETH. However, June 13 was the worst performing day in blue chip NFT history when the index fell down to 9,331 ETH — primarily driven by a floor price adjustment in…

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Brazil brokerage giant with 3.6M clients launches BTC and ETH trading

Brazilian brokerage giant XP Inc has officially launched its crypto trading platform ‘XTAGE’ in Brazil, bringing a potential 3.6 million users to the crypto markets.  The news was broke in an Aug. 15 post by the Nasdaq Exchange Twitter account, noting that XP had rung the exchange’s “Opening Bell” to celebrate the launch of the XTAGE digital assets trading platform. .@xpinvestimentos joins us for the Opening Bell to celebrate the XTAGE digital assets trading platform. Leveraging @NasdaqExchange’s technology, XTAGE represents a key milestone in democratizing access to the digital assets…

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XRP Sluggish At Resistance – Will It Break Out After 2 Months Of Vertigo?

XRP is seen to be stuck and on tepid waters as the price is not wandering off from $0.3 to $0.39 for two months. XRP experiencing weakness with price stuck at $0.3 to $0.39 Price hinting a bearish squeeze Price nearing a breakout and a plunge of 52% The current sluggishness that XRP price is going through is severely pinning and stopping the bulls from making any move in the upward direction. XRP Falling Short, Unable To Jump Higher On the daily chart, XRP structure has looked bullish with its…

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Expansion of short-term BTC holders suggests ‘final flush’ of sellers

A recent spike in short-term BTC holders could signal a “final flush” of sellers, meaning the capitulation events have played out, leaving the market ready for months of accumulation.  The latest The Week On Chain report from market analysis firm Glassnode on Aug. 15 points out that short-term holders (STHs) have expanded their holdings by 330,000 BTC since May’s catastrophic LUNA collapse. As a result, they may be the canary in the coal mine signaling the path to market recovery. During the mass sell offs starting in May through June,…

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Australian Securities Exchange takes step towards tokenized asset trading

Companies on the Australian Securities Exchange (ASX) could be able to trade tokenized bonds, equities, funds, or carbon credits after a successful proof-of-concept trial led by the digital asset investment platform Zerocap. On Monday, Melbourne-based digital asset investment platform Zerocap told Cointelegraph it had successfully used Synfini to bridge over its custody infrastructure onto the platform as part of a trial program, allowing for the trading and clearing of Ethereum-based tokenized assets. The trial is part of ASX’s distributed ledger technology (DLT)-based settlement project Synfini which was launched in November.…

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Korean regulators investigate banks over $6.5B tied to Kimchi premium

South Korean banks are being investigated for their role in facilitating $6.5 billion in suspicious overseas remittances which have been tied to companies arbitraging cryptocurrency.  According to an Aug. 15 report from Asia Times, the Financial Supervisory Service (FSS) ordered an investigation into South Korean banks last month after identifying a significant amount of overseas remittance transactions at the end of June. The investigation found that a majority of the $6.5 billion remitted overseas between Jan 2021 and Jun 2022 came from crypto exchange accounts before being sent out of…

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