The data shows that large transactions are increasing as whales move their funds. This shows the maturity of Bitcoin as a macro asset.
Follow report Latest weekly fromGlassnode, large transactions are increasingly dominating the network BTC, implying that whales and institutional investors are showing a growing interest in cryptocurrency this.
The chart above shows that trading volume has increased sharply after a plunge in June and is at a low level since. The high trading volume shows that there is a lot of interest in this coin at the moment.
There is a box on the chart that covers trading volume from $13.6 billion to $16.8 billion. This box marks two regions of the majority of trading volume where values are close to the ATH level.
The difference between both peaks becomes apparent upon a closer look at the histogram. It seems that transactions larger than 10 million USD have become increasingly dominant in recent times.
These big deals belong to whales, institutional investors, dealing desks and other large value companies and funds. The proliferation of whales suggests that Bitcoin has become more mature as a macro asset.
Bitcoin are targeting the long term in the $ 320,000 and above range.
According to the macro and long-term view of cryptocurrency expert Pentoshi, who posted a chart highlighting the next multi-year trading range of BTC.
Chart BTC /USD 1 week | Source: Pentoshi
According to the chart provided, BTC price could reach as high as $ 323,216 in 2022.
Bitcoin will plummet due to its extremely volatile and speculative nature.
Reputable economist at Johns Hopkins University and critic cryptocurrency, Steve Hanke, believes that Bitcoin will plummet. He said Bitcoin's downside, which will eventually bring its price to a bottom, is its "extremely volatile and speculative nature."
Hanke believes in the universal law that assets that grow fast must eventually go down fast. According to his tweet, Bitcoin proves that it is not an exception to this law as it is highly volatile and speculative.
Meanwhile, another well-known Bitcoin hater, Peter Schiff, points out possible future circumstances under which the US government could impose additional regulations against BTC and all other cryptocurrencies. other cryptocurrencies.
According to data analytics firm Messari, the network Ethereum settled a trading volume of $6.2 trillion over the past 12 months. More impressive is that this number increased by more than 350% over the previous 12 months.
In the past 12 months Ethereum settled $6.2 trillion in transactions.— Ryan Watkins (@RyanWatkins_) October 4, 2021
This figure is up 369% compared to 2020, and was powered by a strong Q3 where Ethereum settled $1.5 trillion.
Probably nothing. pic.twitter.com/O7Kx9OgWqF
Data from analyst Ryan Watkins shows that the economy Ethereum is growing rapidly. Even with the limited impact of the London upgrade, increasingly stiff competition from other smart contract platforms and a chain split bug in late August.
However, ignoring the above issues, many users believe that the Ethereum chain will continue to grow strongly in the future.
Whales move in great numbers ETH.
Whale Alert detected dozens of large Ethereum transfers, carrying over $2.2 billion worth of the second most popular cryptocurrency, Ethereum.
Whales move ETH | Source: Whale Alert
American film giant, AMC Theaters, is slowly approaching its goal of accepting cryptocurrency payments by the end of the year. The company is currently launching crypto purchases for crypto gift cards (eGift).
The CEO, Adam Aron, announced on October 5, that AMC customers can purchase digital gift cards with cryptocurrencies such as Bitcoin (BTC) through the AMC website, an app for mobile devices. mobile devices and cinemas.
In addition, Adam Aron, announced that the leading cinema now accepts Dogecoin and other cryptocurrencies for eGift cards.
Huge news Dogecoin fans! As we work to accept online crypto payments, now you can buy @AMCTheatres digital gift cards (up to $200 per day) with Dogecoin and other cryptocurrency using a BitPay Wallet. Accepted on our web site, mobile app, and in theatres. https://t.co/hPubbeq4YG pic.twitter.com/dra7e23tc8— Adam Aron (@CEOAdam) October 5, 2021
The world's largest cinema is also allowing customers to pay for movie tickets and deals with cryptocurrency.
Aron has announced that the company will accept Dogecoin after conducting a poll on Twitter.
The world's largest cinema will also add support for Bitcoin, Ethereum, Litecoin, and Bitcoin Cash later this year.
Arab Bank in Switzerland has notification on Tuesday that it will integrate its token staking, trading and custody services Tezos (XTZ) aims to provide a digital asset environment for high net worth organizations, corporations and individuals.
50 years old bank in cooperation with Tezos with the hope of benefiting from energy conservation, low gas fees, and quick upgrades.
Arab Bank Switzerland's chief executive officer, Rani Jabban, says the bank's mission is to bridge tradition and cutting-edge innovation. Tezos, with its scalability, high-quality governance, and staking services, fits perfectly with the bank's vision.
Ethereum-based decentralized blogging platform, Mirror, has opened its doors to the general public after months of opening only to creators selected based on votes.
Mirror was launched in December 2020, allowing selected writers to publish on a decentralized blogging platform. Contributors can gain access by voting in weekly contests, using the platform's WRITE token, with only ten selected content creators per week.
In an announcement on October 6, Mirror stated that they have now phased out this system and are open to anyone with an Ethereum address and wallet. Unlike most other commercial blogging platforms, Mirror publishers control their own content as it is hosted on a single platform. blockchain decentralized instead of corporate servers.
News CoinSwitch Kuber
Major Indian crypto exchange, CoinSwitch Kuber, is joining the unicorn club by raising $260 million in a Series C funding round.
Follow official announcement On October 6, new funding catapulted CoinSwitch Kuber to the “top” of unicorns in the country, as the company became “India’s most valuable crypto company” with 1 ,91 billion USD.
Fundraising round by venture capital arm of Coinbase to be Coinbase Ventures and Andreessen Horowitz lead the way. Former investors such as Sequoia, Paradigm, Ribbit and Tiger Global also participated in this round.
With this funding, CoinSwitch Kuber plans to reach 50 million Indians on the platform and introduce new services like lending and staking.
The process will take place on the auction platform NFT Cryptograph, will be donated to LGBT media advocacy organization, GLAAD.