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Cryptocurrency

Over 50 million entities own Ethereum, as it trades around $600

Ethereum Number of Non-zero Addresses just reached an all-time high of 50,290,697.

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Ethereum, cryptocurrency, Crypto: Large investors transfer over 700,000 Ethers

The number of global investors and crypto traders owning a stake in the world’s second most valuable crypto by market value has just reached a new high, as it trades around $600.

  • Data seen from Glassnode, a crypto analytic firm, revealed Ethereum Number of Non-zero Addresses just reached an all-time high of 50,290,697.
  • The previous all-time high of 50,289,739 was observed earlier today.
  • At the time of writing, Ethereum traded at $597.83 with a daily trading volume of $12.1 billion. Ethereum is down 0.20% in the last 24 hours. It’s presently the second most valuable crypto by market value with a market capitalization of $68 billion.

READ: Ethereum miners on steroids, earn $500,000 in just one hour

Metric Description: The number of unique addresses holding a positive (non-zero) amount of coins. Contracts are excluded, only Externally Owned Addresses (EOAs) are counted.

What you should know about Ethereum

  • Ethereum is a cryptocurrency designed for decentralized applications and deployment of smart contracts, which are created and operated without any fraud, interruption, control, or interference from a third party.
  • Ethereum 2.0, also known as Eth2, is the next upgrade on the Ethereum blockchain. Ethereum 2.0 will be released in different “Phases” starting in 2020 with Phase 0. Each upgrade will improve the functionality and performance of Ethereum in different ways.
  •  Ethereum co-creator, Vitalik Buterin, gave key insights on the re-envisioning of Ethereum 2.0 long-term future as a single high-security execution shard that everyone processes, plus a scalable data availability layer.
  • Ethereum 1.0 had ~15 TPS.
  • If everyone moves to rollups, we will soon have ~3000 TPS.
  • Once phase 1 comes along, and rollups move to Eth2 sharded chains for their data storage, we go up to a theoretical max of ~100000 TPS.
  • Eventually, phase 2 will come along, bringing Eth2 sharded chains with native computations, which give us… ~1000-5000 TPS.

READ: Ripple’s big players move XRP worth over $50 million

What this means

Its rise has not been surprising to many crypto experts in the crypto-verse, on the bias of its recent upgrade to Ethereum 2.0, coupled with increased buying pressure of DeFi Crypto assets significantly aided Ethereum’s usage in reaching an all-time high.

READ: Crypto: Large investors transfer over 700,000 Ethers

READ: $414 million worth of Bitcoin moved by a large entity

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Olumide Adesina is a France-born Nigerian. He is a Certified Investment Trader, with more than 15 years of working expertise in Investment trading. Message Olumide on Twitter @tokunboadesina. He is a Member of the Chartered Financial Analyst Society.

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Cryptocurrency

Unknown Bitcoin whale moves $714 million, Bitcoin stays above $60,000 mark

The flagship crypto traded at $60,514.60 on the FTX exchange with a daily trading volume of $45.5 billion.

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$700 million worth of Bitcoin moved by an unknown identity

Bitcoin whales are moving the vastly used treasury crypto in large amounts amid price volatility and bullish rush, as Bitcoin bulls regain control above the $60, 000 mark.

Data retrieved from BtcBlockBot an advanced crypto blockchain tracking and analytics firm, an anonymous cryptocurrency user revealed someone (possibly http://coinbase.com) moved 11,901 BTC $714 million in block 678,688.

Whale alert! 🐋 Someone (possibly http://coinbase.com) moved 11,901 BTC $714 million in block 678,688

READ: XRP surges by 150% in 7 days as Ripple posts early victories against SEC

The tracker further disclosed that the whale may have come from the world’s pioneer crypto exchange, Coinbase.

Nairametrics’ research has recently seen the surge in unknown crypto transactions involving Bitcoin, Ethereum, and other top crypto assets at levels not previously seen in the cryptoverse suggesting that more institutional players are getting into the game.

At the time of writing, the flagship crypto traded at $60,514.60 on the FTX exchange with a daily trading volume of $45.5 billion. Bitcoin is down 0.04% for the day.

Sigma Pensions

READ: Why Bitcoin is still going up

During bull trends in the cryptoverse, these large entities can take profit on their positions, especially if the futures market is overcrowded.

Wealthy investors reducing their crypto exposure to rebalance their portfolios can cause high price swings in the market, especially when accompanied by cascading liquidations.

However, recent data suggests otherwise as data retrieved from Glassnode points at entities holding more onto the world’s most popular crypto, rather than selling; as data shows Bitcoin balance on Crypto Exchanges just reached a 2-year low of 2,337,271.262 BTC.

A previous 2-year low of 2,338,724.621 BTC was observed on 08 April 2021.

Stanbic 728 x 90

READ: FG moves to recover N5.2 trillion debt owed by firms, individuals

 

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Cryptocurrency

XRP surges by 150% in 7 days as Ripple posts early victories against SEC

This surge has pushed the fast-rising crypto into the top 5 cryptos by market value, behind only Bitcoin, Ethereum and Binance Coin.

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XRP, Ripple's co-founder earned $411 million from selling XRP in 2020

Amid the strong bullish rally at play in the cryptoverse, Ripple’s XRP looks to be leading the way with a push as it almost triples in value following a series of legal victories and social media rumours of relisting at some crypto exchanges like Coinbase.

This surge has pushed the fast-rising crypto into the top 5 cryptos by market value, behind only Bitcoin, Ethereum and Binance Coin.

At the time of writing this report, XRP traded at $1.47 with a daily trading volume of $29.3 billion. XRP is up 147% for the week with a current market value of about $67 billion.

READ: Why this unknown crypto with over 600% gain in 3 months, might still explode

The surge in this crypto asset is coming amid a lawsuit from the SEC which accused XRP’s $1.3 billion initial coin offering of being an “unregistered securities offering.” The allegation led most American crypto multiple exchanges to delist the crypto and XRP lost its place as the 3rd largest crypto by market value.

That being said, crypto traders appear to be backing the crypto asset amid credible reports suggesting that Ripple lawyers have posted two victories in their legal tussle against the powerful American regulator, including gaining access to internal Securities Exchange Commission discussion history regarding crypto assets.

READ: XRP stands firm, investors wait on Ripple’s legal outcome

What this means

Such access by Ripple’s lawyers to these records would offer them insights into why the Securities Exchange Commission has not deemed Bitcoin and Ethereum a security asset.

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