- Crunch
- Global
Over the past six weeks, Bitcoin wallets containing more than 10,000 coins have significantly benefited from the recent market fluctuations. Santiment, a behavior analysis platform, reports that these major players have added approximately 212,450 BTC to their holdings. This surge increases their control over an additional 1.05% of the total circulating Bitcoin supply, achieving a peak not seen in nearly six years.
Accumulations have soared to levels exceeding 3.19 million coins, a figure last observed in November 2018. This uptrend suggests that the largest Bitcoin holders are actively buying during price drops, indicating a bullish outlook among these influential investors.
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Welcome to the On the Margin Newsletter, brought to you by Casey Wagner.
We hope our US readers are enjoying a long holiday weekend. Today’s (abbreviated) edition is all about how stocks performed during the first half of the year.
We’ll see you back here Monday for our regularly scheduled programming.
AI led US equities to the top during H1, but can they continue?
If you recall, our Wednesday edition focused on how crypto has performed so far this year.
Today we talk about stocks, which also had a pretty…
Read more on Blockworks
Introduction
As it moves into the active appeal stage at the Tenth Circuit, the ongoing legal battle between Custodia Bank and the Federal Reserve has garnered significant attention, especially given the involvement of various amicus briefs. A total of seven briefs were filed on July 3rd, the last day for supporting, or neutral, briefs to be filed.1 This case has attracted significant interest from top-flight appellate attorneys, drawing three former Solicitors General, two representing amici and Ian Gershengorn who represents Custodia itself.
In Federal appellate practice, an amicus curiae (“friend of the court”) brief allows non-parties to provide the court with additional…
Read more on BitcoinMagazine
Venezuela’s severe economic downturn has led to a mass migration exceeding those from Ukraine and Syria, with over 7.7 million fleeing in the last decade. Amid recovery, cryptocurrencies have become crucial, capturing 9% of the $5.4 billion in remittances last year, outpacing traditional methods in efficiency and cost. This shift highlights the growing reliance on digital solutions due to high transaction fees and restrictive financial regulations.
In 2023, about 30% of Venezuelan households received remittances, with many preferring cryptocurrencies like Dogecoin and Tether for their low fees and immediate processing. These digital options are increasingly favored over conventional channels, particularly in remittance-heavy communities in the US.
Cryptocurrencies offer a viable alternative, providing rapid, affordable ways to support families back home despite their inherent volatility. As traditional financial systems falter, digital currencies shine as a beacon of economic resilience and recovery for Venezuelans worldwide.
Venezuela’s severe economic downturn has led to a mass migration exceeding those from Ukraine and Syria, with over 7.7 million fleeing in the last decade. Amid recovery, cryptocurrencies have become crucial, capturing 9% of the $5.4 billion in remittances last year, outpacing traditional methods in efficiency and cost. This shift highlights the growing reliance on digital solutions due to high transaction fees and restrictive financial regulations.
In 2023, about 30% of Venezuelan households received remittances, with many preferring cryptocurrencies like Dogecoin and Tether for their low fees and immediate processing. These digital options are increasingly favored over conventional channels, particularly in remittance-heavy communities in the US.
Cryptocurrencies offer a viable alternative, providing rapid, affordable ways to support families back home despite their inherent volatility. As traditional financial systems falter, digital currencies shine as a beacon of economic resilience and recovery for Venezuelans worldwide.
Today, enjoy the Lightspeed newsletter on Blockworks.co. Tomorrow, get the news delivered directly to your inbox. Subscribe to the Lightspeed newsletter.
Hello earthlings.
It’s finally Friday, and the weekend is our oyster. Similar to an oyster, Worldcoin may have an unsettling exterior, but once you get past the crusty gray shell, you’ve got something nice on the inside. I suppose oysters don’t look that nice on the inside either, but you get the point:
You SHOULD give a damn ‘bout your bad reputation
Last week, the Worldcoin Foundation announced that World ID would be coming to Solana, thanks to a grant awarded to the Wormhole interoperability protocol.
While some…
Read more on Blockworks
Bitcoin’s BTC/USD plunge on Friday comes on the heels of Mt. Gox starting its payment distribution. However, a trader predicted a further drop to a key demand level.
What Happened: Crypto chart analyst Ali Martinez in his latest tweet noted that currently Bitcoin is lacking significant support, and the key demand wall is at around $47,000.
Glassnode in its latest post highlighted the importance of the Mayer Multiple metric in evaluating Bitcoin’s market momentum. The metric’s role is used in assessing the ratio between Bitcoin’s price and its 200-day moving average (200DMA).
The onchain data provider pointed out that the 200DMA is often used as a simple indicator for determining bullish…
Read more on Benzinga