U.Today – When 30,000 BTC, a staggering amount equal to $1.88 billion at current rates, was moved to Binance, the largest cryptocurrency exchange in the world, an unexpected twist appeared on the chain, according to data from Whale Alert.

Consequently, the first transfer of 75177.38 BTC, or $4.73 billion, was sent from address “3E97A” to two other addresses: “3PXBET” and “1Pzaq,” the latter of which is the address of Binance’s cold wallet and received 30,000 BTC from the original amount.

The transaction history then reveals that 233 BTC were transferred to another cold wallet belonging to the massive black-and-yellow cryptocurrency. This address still has the 45,177 BTC that “3PXBET” received, unaltered.

When a huge company sends enormous amounts of Bitcoin to an exchange with the aim of selling it, it frequently causes panic and distrust among market players.

This combination of addresses and transactions—what is it?

Arkham Intelligence data offers a more comprehensive view. The address that contributed the first amount and the one that received 30,000 BTC both belong to Binance, based on its on-chain metadata. Additionally, the sender address is a cold wallet.

In essence, it is merely an internal technological transfer of the exchange between its wallets. Is there cause for concern? Most likely not.

As for the impact this transfer had on the price of Bitcoin, well, market players may have expected it given the size of the Binance investment. A large red candle brought the price of Bitcoin down 0.44% in just one minute.

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Quick analysis of the cryptocurrency pricing on September 6: The value of the world market was $1.04 trillion.

Early on Wednesday, Bitcoin (BTC), the first and most valuable cryptocurrency in history, fell under the $26,000 level as concerns over the US-based spot Bitcoin exchange-traded fund (ETF) persisted. Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), Litecoin (LTC), and Solana (SOL), among other well-known altcoins, all finished in the red. With an almost 3-percent increase over the course of a day, the Stellar (XLM) coin went on to become the greatest gainer. With a decline of almost 6% over the course of a day, GALA was the largest loser.

At the time of writing, the market capitalization of all cryptocurrencies was $1.04 trillion, down 1.06 percent over the previous 24 hours.

Bitcoin Price Today
According to CoinMarketCap, the price of one bitcoin was $25,694.23, a drop of 1.19 percent over the previous 24 hours. WazirX, an Indian exchange, reported that the price of one bitcoin was Rs 22.63 lakh.

Ethereum Price Today
At the time of writing, the price of ETH was $1,619.53, a 24-hour decline of 1.14 percent. According to WazirX, the price of ethereum in India was Rs. 1.43 lakh.

Dogecoin Price Today
Currently trading at $0.06334, DOGE saw a 24-hour loss of 0.17 percent, according to data from CoinMarketCap. Dogecoin’s price in India as of WazirX was Rs 5.57.

Litecoin Price Today
In the last day, Litecoin fell by 1.63 percent. Its price at the time of writing was $63.44. In India, LTC was priced at Rs 5,703.

Ripple Price Today
The price of XRP was $0.5063, down 0.90 percent over the previous 24 hours. The price of ripple was Rs 44.31, according to WazirX.

Solana Price Today
Solana price was $19.24, down 2.80% from the previous day. SOL cost Rs 1,741 in India, according to WazirX.

On Thursday, Ethereum lost more than 1% to go below the $,1700 barrier, while Bitcoin fell by approximately 1% but continued to trade above $27,000 levels.

As traders took some profit off the table amid the erratic market sentiments on Thursday, Bitcoin fell back into the red. The Federal Court’s decision on Tuesday is viewed as opening the door for a spot bitcoin ETF by Grayscale. The general mood, meanwhile, is still unstable for the traders.

On Thursday, the largest cryptocurrency token, Bitcoin, fell somewhat but continued to trade above $27,000 levels, returning to the red. Its biggest rival, Ethereum, dropped more than 1% to once more go below the $,1700 barrier. During the early session, cryptocurrency price activity was on the lower side.

Since Grayscale’s victory over the US SEC yesterday, the market’s rapid expansion has self-corrected, stabilising Bitcoin’s price above the $27,000 mark.

However, the market has grown cautiously optimistic about the impending decision about the Bitcoin spot ETF in the United States as a result of this ruling. Investors are eagerly awaiting word from the SEC on Bitwise’s application, which has a September 1st first deadline. Ethereum, in contrast, has been trading at about $1,700.

With a few exceptions, Thursday saw a small decline in the price of all major crypto coins. Solana fell more than 4%, while Polkadot fell by only 3%. Tron and Polygon both had a 2% decline. Toncoin, one of the gainers, increased by roughly 1%, while Dogecoin saw very modest gains.

The market capitalization of all cryptocurrencies was trading marginally lower, down below the $1.08 trillion mark, and it had decreased by as much as 1% during the previous day. The entire trade volume fell by more than 45% to $29.74 billion, though.

The last 24 hours have seen sideways trading on the cryptocurrency market with downward pressure. However, investor sentiment increased 3 points since yesterday and is now in the neutral zone with a score of 52/100. The majority of the top 10 cryptocurrencies by market capitalization were losing money.

After providing wallet support for BTC and DOGE, Robinhood, one of the biggest financial brokers in the US, has seen considerable growth in its wallet software. Investors appear to be supportive of the move even though it seems like a late development in a competitive market niche.

Top cryptocurrency tokens were in excruciating pain on Friday as a result of the buzz surrounding Silvergate, following muted trading in the previous few days. Significant cryptocurrency companies have removed themselves from Silvergate, and the bank is still losing customers.

Silver Gate acknowledged that its auditors would need to examine its books and issued a number of cautionary statements. Although other significant crypto exchanges did not report comparable issues, Silvergate appears to be experiencing problems.

The biggest cryptocurrency commodity, Bitcoin, fell sharply below the $23,000 level. It decreased by about 5% to remain around $22,300. Similar cuts were also made by Ethereum, its biggest rival, causing it to fall under $1,600 in the early exchange. Altcoins were in a lot of pain.

“Both Bitcoin and Ethereum saw a 5% decline, which resulted in a loss of their weekly gains. Bitcoin is currently selling at $22,300, below the $23,000 mark, and has reached its lowest level in about two weeks. In anticipation of potential inflation and interest rate increases, investors and traders are closely monitoring economic data and other variables.”

Except for the stablecoins tied to the US dollar, all other well-known and renowned crypto tokens were trading with significant losses on Friday. Avalanche was selling 8% lower while Litecoin fell by about 9%. Bitcoin and Cardano both fell by 7%, while Shiba Inu and Polkadot both fell by 6%.

In the previous day, the market capitalization of all cryptocurrencies fell significantly, falling to $1.02 trillion, or about 5%. The overall trading volume did, however, increase by almost 9% to $52.96 billion.

“As a consequence, Silvergate’s stock fell by almost 50%, reaching a record low. These market changes signal an increase in market volatility and possible short-term weakness, “said he. Ethereum has experienced a significant decline on the 4-hour chart and may possibly challenge the next support level at $1400.

The top 10 non-stablecoin cryptocurrencies by market capitalization had a mixed morning of trading on Monday in Asia, although Bitcoin didn’t alter much. After the U.S.-based Kraken cryptocurrency exchange shut down its staking service on Thursday and paid a fine of US$30 million to the Securities and Exchange Commission (SEC) for failing to register the business, Bitcoin fell below US$22,000 on the market. Much of the crypto market fell over the weekend as a result of the SEC action. This morning, XRP was among the top losers, while Solana advanced.

Quick Facts

According to data from CoinMarketCap, Bitcoin dropped 0.4% over the last 24 hours to US$21,796 at 8 a.m. in Hong Kong, shedding 5% over the previous 7 days to trade in the same price range as almost a month ago. Ether lost 1.6% to US$1,515 for a weekly loss of 7.1%.

Solana recovered 3.1% to reach US$21.48, although it is still down 8.5% for the past seven days. After Ethereum, Solana is the largest non-fungible token (NFT) blockchain, accounting for 14% of all NFT transactions, according to a report by cryptocurrency research company Delphi Digital.

XRP lost 2.3% to trade at US$0.37, a loss of 6% for the week. Since December 2020, Ripple Labs Inc., a business whose XRP-powered payment network is operated, has been involved in a legal dispute with the SEC. The SEC asserts that Ripple Labs issued XRP as an unregistered securities. The company stated that it anticipates a decision in the first half of this year, which would provide the entire cryptocurrency business more legal clarity.

During an appearance on CNBC’s Squawk Box on Friday, SEC Chair Gary Gensler urged other cryptocurrency exchanges to “take heed” of the penalty imposed on Kraken for its staking service.

Hester Peirce, a commissioner for the SEC, lambasted him for the action on Kraken, calling it that of a “lazy” regulator.

On Friday, U.S. stocks had a mixed day. The S&P 500 Index and the Dow Jones Industrial Average both increased by 0.5%, while the Nasdaq Composite Index decreased by 0.6% for the day.

Investors are getting ready for the U.S. Consumer Price Index (CPI) for January, which will be released on Tuesday. The CPI is a commonly used indicator of inflation in the economy and is also used by the Federal Reserve to determine interest rates.

The CPI is predicted to rise by 0.4% in January, slowing the annual growth rate from 6.5% to 6.2%. It is anticipated that core CPI would increase by 0.4% from the prior month, bringing the annual rate to 5.5%.

Price growth was 6.5% year over year in December, down from the 7.1% recorded in November, which in turn showed a gradual reduction from October’s 7.7% and September’s 8.2%.

Since last March, the Fed has increased interest rates many times to combat inflation, and according to CME Group analysts, there is a greater than 90% possibility that the Fed will increase rates by another 25 basis points at its meeting next month. The current range of U.S. interest rates is 4.5% to 4.75%, which is the highest level in 15 years. Fed officials have frequently said they could increase rates as high as 5%.

Cryptocurrency prices rose for a second day today, with Bitcoin trading above the $23,000 mark

Cryptocurrency prices rose for a second day today, with bitcoin trading above $23,000 and ether-related tokens leading gains, as optimism grows over a long-awaited software update to the Ethereum blockchain network.

The world’s largest and most popular cryptocurrency Bitcoin rose more than 5% to $23,868. The global cryptocurrency market capitalization crossed the $1 trillion mark today as it rose more than 4% to $1.14 trillion in the past 24 hours, according to CoinGecko.

On the other hand, Ether, a coin linked to the ethereum blockchain and the second largest cryptocurrency, gained nearly 7% to $1,714. Meanwhile, Dogecoin was trading more than 5% higher at $0.06 today, while Shiba Inu was also up more than 5% at $0.000015.

Ethereum’s transition from the current system of using miners to a more energy efficient system using staked coins is imminent. The transition to this so-called proof-of-stake system is expected in September.

This week, Ethereum developers signaled continued progress in testing the new system and are holding a series of events for potential stakers and other community members in the coming weeks. Ethereum Classic is up more than 21%.

Other cryptocurrencies also performed better today as XRP, Solana, BNB, Litecoin, Stellar, Chainlink, Apecoin, Avalanche, Polkadot, Tether, Polygon, Tron, Uniswap all traded with gains in the last 24 hours.

Meanwhile, the broader crypto market continued to benefit as traders dialed back bets on a Federal Reserve hike after a grim economic reading fueled fears of a US recession.

US banking regulators have ordered crypto firm Voyager Digital to cease and desist from “false and misleading” claims that its customers’ funds were protected by the government, Reuters reported. Voyager was one of several crypto firms that struggled with the extensive turbulence in the crypto market.

Several crypto companies have filed for bankruptcy or been forced to seek emergency capital infusions. Rising interest rates and high-profile crashes like crypto hedge fund Three Arrows Capital have hit digital tokens this year. Cryptocurrencies such as Bitcoin rose sharply in 2020 and 2021, but have fallen sharply this year.

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