🐻 With crypto markets continuing its unpredictability, we have seen a big uptick in #bearish takes by the crowd here in September. Historically, this is a good thing for patient traders. Probability of price bounces rise after FUD becomes the majority.
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📣 Major ecosystem TVL now sits under $30 billion after declining 11% in August — link
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💰 Cardano whales have sold or redistributed roughly 1.02 billion $ADA over the past week, worth around $265 million.
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🐳 Bluzelle's supply on exchanges dropped from 55% to 35% in the midst of its rally that has been in progress since last month. Our latest insight looks at $BLZ's supply moving to whale cold wallets during this price drop, and a lesson in supply & demand.
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💰 "As a % of circulating supply, bitcoin moved in the last 30 days is at an all time low of 5.4% (94.6% dormant), meanwhile spot volumes are at levels not seen since 2019.
Saying this market is thin currently is an understatement - remember $BTC inelasticity can cut both ways..."
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💰 The number of Bitcoin addresses (potentially holders) with a non-zero balance has exceeded 48.5 million—more than the entire population of Spain 🇪🇸
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📣 zkSync Era crosses $5.5B+ in all-time DEX volume, 100M transactions — link
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🪙 Aave’s new stablecoin GHO has been unable to reach its $1 peg since it was first released in mid-July.
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🔵 Base was the most profitable L2 in August, surpassing Arbitrum, Optimism, and zkSync Era — link
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💰 So far 2023 has been the least volatile year for Bitcoin over the last ten years
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💰 Tron YTD transaction fees: $272.2 million.
💰 Bitcoin YTD transaction fees: $270.3 million.
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🧑💻 XRP is seeing major utility spikes to start the month. In addition to today's milestone highs in onchain transaction volume (4.8B $XRP) and circulation (2.03B $XRP), the development activity for the 5th largest cap asset in crypto is up big as well.
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🐳 Whales are being particularly indecisive on stablecoin accumulation. A tried and true method for predicting where crypto heads next is analyzing big wallets to see the ratio of stablecoins they hold. A rise in their buying power would signal a bounce.
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💰 Bitcoin withdrawals from exchanges are outpacing deposits at highest rates since the FTX collapse❗️
There are currently 58,000 BTC (red) being withdrawn for every 45,000 BTC deposited (green) 👀
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🇺🇸 Within U.S.-available exchanges, altcoin market depth is heavily concentrated on just three platforms: Coinbase, Kraken, and Bitstamp.
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💰 Bitcoin has enjoyed a slight +2% price jump, returning back to $26.3K for the first time in a week. Keep an eye on the supply of $BTC on exchanges, which has increased by 3.1% in 2 weeks. Traders appear to be motivated to take small profits.
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🟠 Binance conducted its 10th Proof of Reserves audit, confirming that the exchange's assets are more than 100% secured.
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🪙 Chainlink's key shark tier that holds between 10K-100K $LINK has been on an accumulation spree. There are now 3,127 wallets holding this level of coins, making it the highest amount since Dec. 3, 2022. They have added $9.6M worth of $LINK in 3 days.
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💰 Grayscale Urges SEC To Quickly Approve Its Spot Bitcoin ETF -Link
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📊 Altcoins have shown some mild signs of life thus far this week, but certainly not enough to make up for big trader losses that have accumulated since June. With that said, many are seeing historic opportunities to rise, such as $DODO, $GALA, $MAGIC, $MASK, and $SRM.
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💰 Bitcoin is back below the "Extremely Undervalued" portion of the Rainbow Chart 🌈
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💰 NEW: Wallets with more than 10 bitcoin are now at a 3-year high of 157,352
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💰 800,000 Bitcoin has been pulled from exchanges in the last three years
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🥇 For the first time in history, Bitcoin withdrawals from exchanges have surpassed deposits for three consecutive months
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📊 The market caps of the top 6 stablecoins in crypto have collectively declined by 25.9% in the past 18 months.
Butfor the first time since the #FTX collapse last November, we see growth. Since Aug. 22nd, the combined market caps have grown by $663.2M.
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📊 Top 10 Developers activity. Polkadot comes in first. $KSM 2nd, $ADA 3rd.
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🔐 According to TokenUnlocks, large-amount unlocks in September include HBAR, SUI, IMX, APT, APE, DYDX, OP, etc., with an unlock value of over 225 million US dollars.
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🪙 Maker has enjoyed a nice +12% day while the rest of #crypto slumps. This can largely be attributed to accumulation by the whales & sharks holding between $11.6K to $11.6M $MKR. Their holdings will continue to correlate with future price movement.
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