Aggregate Bitcoin Price Increased $87 Billion In Five Months

[ad_1] The below is from a recent edition of the Deep Dive, Bitcoin Magazine’s premium markets newsletter. To be among the first to receive these insights and other on-chain bitcoin market analysis straight to your inbox, subscribe now. In recent weeks, much of our analysis has been focused on the consolidation period currently occurring in the bitcoin market, with a particular focus on realized price as an indicator of lackluster capital flow. As shown by the chart below, the realized market capitalization of bitcoin, which can otherwise be thought of…

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$33.5 billion worth of ETH ‘trapped’ in largest Ethereum contract

[ad_1] The single largest Ethereum contract containing 8,641,954 Ether (ETH) worth $33.5 billion is sitting idle because it cannot be spent or sent. A Twitter user highlighted the Beacon chain contract, claiming it to be the largest Ethereum contract with billions of dollars worth of ETH “trapped” inside it.  BREAKING: 8,641,954 ETH ($32 billion) trapped in single largest Ethereum contract and unable to be sent or spent. Will require hard fork that hasn’t been written or specified yet. Timing and terms of hard fork still unknown.https://t.co/xcXPwbS93v — Tomer Strolight |…

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El Salvador to Issue $1 Billion Bitcoin Bond to Fund ‘Bitcoin City’ – Bitcoin News

[ad_1] President Nayib Bukele, of El Salvador, announced yesterday he would issue a $1 billion “Bitcoin Bond” to build the first Bitcoin City in the world. The city would feature no taxes of any kind except VAT, and it would be carbon neutral, with most of the energy powering it coming from geothermal sources. Bukele also announced that El Salvador would partner with Blockstream and use its liquid network to issue the aforementioned bond. Bitcoin City Announced in El Salvador El Salvador and its president, Nayib Bukele, have…

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Total Value Locked in Defi Reaches $250 Billion — Uniswap, Quickswap, Trader Joe Dominate Dex Volumes – Defi Bitcoin News

[ad_1] During the second week of October, the total value locked (TVL) in decentralized finance (defi) protocols crossed $200 billion, and two weeks later in November, the TVL in defi surpassed $250 billion gaining 25% in value. Meanwhile, Ethereum commands more than 67% of the $253 billion TVL in defi today, gaining 4.65% during the last seven days while Solana’s TVL increased by 5.99% this past week. Defi TVL Increases by 25% in 2 Weeks The total value locked (TVL) in defi has reached an all-time high, tapping $253.94 billion…

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FTX Backs $2 Billion Unicorn Fintech Bitcoin App Chipper Cash

[ad_1] African cross-border payments app Chipper Cash has raised $150 million in a Series C extension round led by bitcoin exchange FTX, leading the money transmitting app to a $2 billion valuation, reported TechCrunch. Chipper, which is used in seven African countries, has ventured into the U.K. and U.S. markets in recent months, enabling a new remittances option. “Chipper Cash is offering remittances considerably cheaper than anyone else,” Serunjogi said, per the report. “More important to that is that we are now the first ones that I know honestly to…

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Grayscale Files To Convert $38 Billion Bitcoin Trust To Spot ETF

[ad_1] Grayscale Investments, the world’s largest crypto currency asset manager announced today that the NYSE Arca has filed to convert the firm’s flagship product, the Grayscale Bitcoin Trust (GBTC) into a Bitcoin Spot ETF. The filing comes on the first day the ProShares Bitcoin Futures ETF, the first Bitcoin ETF in the U.S., began trading. The proposed ticker for the Bitcoin spot ETF is BTC. Craig Salm, Vice President and Head of Legal at Grayscale Investments commented, “Today we saw for the first time a Bitcoin Futures ETF trade on…

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Elon Musk’s Tesla Up Over $1 Billion On Bitcoin Investment

[ad_1] Elon Musk’s Tesla is now over $1 billion in the green on its Bitcoin investment as the price nears $58,000 for the first time since early May. Currently Tesla holds about 43,200 BTC, worth nearly $2.5 billion at the time of writing. The company bought roughly $1.5 billion worth of Bitcoin back in February when it first added Bitcoin to its balance sheet. In Q2, Tesla sold 10% of its Bitcoin holdings at an average price of around $50,000 per token. CEO Elon Musk later took to Twitter to…

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Network Participants Burn Over 300,000 Ether Worth More Than $1 Billion – Technology Bitcoin News

[ad_1] On August 5, 2021, the Ethereum network and its participants successfully completed the highly anticipated London upgrade, which saw the implementation of the Ethereum Improvement Proposal (EIP)-1559. Since then, 303,681 ether worth more than a billion U.S. dollars have been burned. More Than 300K Ether Burned Following EIP-1559 More than a billion dollars worth of ethereum (ETH) has been burned to date, after the London upgrade was implemented 42 days ago. The biggest changes added to the Ethereum blockchain included EIP-1559 and EIP-3554. While EIP-3554 changed the difficulty bomb,…

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Annual US Dollar Remittances to Nigeria Surge to $34 Billion but Forex Woes Persist – Emerging Markets Bitcoin News

[ad_1] According to a report, the value of annual dollar remittances by Nigerians working abroad has surged to $34 billion, a figure that easily surpasses the previous record-high of $25 billion. Still, a large portion of the funds doesn’t seem to be entering domestic forex markets. Target Attained Two Years Ahead of Schedule The increase, which has been attributed to the Central Bank of Nigeria (CBN)’s “naira for dollar” incentive scheme, once again highlights the growing importance of diaspora remittances to Africa’s most populated country. As Biodun Adedipe, an economist…

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Cryptopunks NFT Collection Joins Axie Infinity and Opensea by Hitting $1 Billion in Sales – Blockchain Bitcoin News

[ad_1] On Saturday, August 28, the non-fungible token (NFT) project Cryptopunks crossed $1 billion in all-time sales. Cryptopunks joins the heavyweight NFT hitters Axie Infinity’s $1.6 billion and Opensea’s $3.53 billion. Three NFT Projects Have Sold More Than a Billion-Dollars in Sales The non-fungible token project Cryptopunks is now a billion-dollar NFT collection as statistics show all-time sales tapped $1.095 billion, according to dappradar.com data. Cryptopunks has a bunch of records on dappradar.com’s “top sales” page, in terms of NFT sales. Cryptopunks is just below Opensea ($3.54B) and Axie Infinity…

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