Fun

News Feed - 2023-08-18 08:08:57

Ezra Reguerra12 hours agoEther whale dumps $41M days before the market crashedA crypto trader holding 22,341 ETH sold the assets days before the market crash, avoiding a potential loss of over $5 million.2401 Total views24 Total sharesListen to article 0:00NewsJoin us on social networksA crypto whale holding massive amounts of Ether (ETH) sold $41 million worth of the asset a few days before the market crashed, avoiding a potential $5-million loss. 


The trade was flagged by the blockchain analysis platform Lookonchain, which follows and shares what it considers to be smart trades. On Aug. 18, the crypto whale deposited 22,341 ETH on the Binance exchange and withdrew around $41 million in Tether (USDT).List of transactions that the crypto whale made before the crash. Source: Etherscan


While the crypto whale lost around $1.7 million in value, the trader managed to avoid further potential losses that could have gone up to more than $5 million when the market prices dropped. On Aug. 18, crypto’s market capitalization dropped by 6% to $1.1 trillion, which is the lowest level seen in at least two months. 


Ether, the second-largest crypto by market capitalization, dropped from around $1,820 per token on Aug. 17 to about $1,597 the next day. Meanwhile, Bitcoin (BTC), which composes about 50% of the entire crypto market, dropped from about $28,400 to $25,649 in the same time frame before making a recovery to above $26,000 in a few hours.


Related:Mantle pauses token migration to stop FTX from converting $43M in BIT tokens to MNT


The price drop followed a report by mainstream media outlet The Wall Street Journal highlighting that Elon Musk’s aerospace technology firm, SpaceX, wrote down $373 million worth of BTC from 2021 to 2022. It still remains unclear whether the entire holdings were sold or not.


Meanwhile, the company’s Bitcoin write-down sparked confusion among crypto community members. Some media outlets reported that the firm sold the entire stash, while others expressed that they were unable to confirm the amount sold based on the report’s wordings. Some users on X (formerly Twitter) called out Musk on the platform, saying that he had “paper hands,” which is a term used to describe those who are unable to hold onto their crypto long term.


Collect this article as an NFTto preserve this moment in history and show your support for independent journalism in the crypto space.


Magazine:Tokenizing music royalties as NFTs could help the next Taylor Swift# Ethereum# Trading# Ether PriceAdd reactionAdd reactionRead moreHow to actually spend your Bitcoin, Explained2024 could be very bullish for crypto — Here’s whyCrypto Stories: eToro co-founder Yoni Assia’s life in finance led him to adopt crypto early

News Feed

Seoul Takes Control Over $160 Million in Assets of Former Terraform Employees, Founder
Seoul Takes Control Over $160 Million in Assets of Former Terraform Employees, Founder Authorities in South Korea have reportedly seized assets worth billions of won belonging to f
US Senator: China’s Digital Currency Could Subvert US Sanctions, Enhance Surveillance Capabilities
US Senator: China"s Digital Currency Could Subvert US Sanctions, Enhance Surveillance Capabilities A U.S. senator has warned about China’s central bank digital currency. &#x
All Tifon Gas Stations in Croatia Now Accept Cryptocurrencies
All Tifon Gas Stations in Croatia Now Accept Cryptocurrencies Forty-six Tifon gas stations across Croatia have reportedly started accepting cryptocurrency paymen
Devere Group CEO Predicts Bitcoin Can Replace Gold as Top Safe-Haven Within a Generation
Devere Group CEO Predicts Bitcoin Can Replace Gold as Top Safe-Haven Within a GenerationA few weeks ago, Devere Group CEO and founder Nigel Green said that he believed the U.S. elec
Some NFTs sold for millions — What are they worth today?
Robert D. Knight10 hours agoSome NFTs sold for millions — What are they worth today?Investors who purchased NFTs just a few years ago may have reason to regret their decision.1677 Total views6 Total sharesListen to art
Bank of America and JPMorgan Say US Economy Is Doing Well, Consumers Are in Good Shape Despite Inflation
Bank of America and JPMorgan Say US Economy Is Doing Well, Consumers Are in Good Shape Despite Inflation Bank of America CEO Brian Moynihan and JPMorgan & Chase CEO Jamie Dimon
DOGE and SHIB Led the Pack of Meme-Based Assets in 2021, Both Tokens Dominate 85% of the Meme-Coin Economy
DOGE and SHIB Led the Pack of Meme-Based Assets in 2021, Both Tokens Dominate 85% of the Meme-Coin Economy The end of 2021 is approaching and the market capitalization of meme-base
Frodo Tech Aims to Create Environmentally-Friendly Blockchain Ecosystem That Is Open to Everyone
Frodo Tech Aims to Create Environmentally-Friendly Blockchain Ecosystem That Is Open to Everyone sponsored Frodo Tech aims to create an environmentally-friendly blockchain ecosystem
Brayden Lindrea2 hours agoMajor Aussie bank takes next step to AUD stablecoin after Chainlink test transactionANZ’s banking executive Nigel Dobson says the bank sees “real value” in tokenizing real-world assets on-
Peter Brandt Predicts When Bitcoin Price Might Reach $150,000, Technical Signals Show Where Market Is At
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
US Regulators Target Bitcoin ATMs: 88% of the Funds Exit the Country via Machines
US Regulators Target Bitcoin ATMs: 88% of the Funds Exit the Country via MachinesBitcoin automated teller machines (BATMs) will become the next target for regulators, as world gover
Crypto, Equity, Metal Markets Plunge as Tech Earnings Disappoint and US Economic Weakness Deepens
Crypto, Equity, Metal Markets Plunge as Tech Earnings Disappoint and US Economic Weakness Deepens Equity markets began the day in the red following the latest corporate earnings re