Crypto Exchange News & Updates

MicroStrategy Buys 155 BTC in October, Total Holdings Reach 158,400 BTC

MicroStrategy has officially released its financial report for the third quarter of 2023, revealing an additional purchase of 155 Bitcoins in October at a price of $5.3 million. As of October 31, 2023, MicroStrategy holds a total of 158,400 Bitcoins, with a total cost of $4.69 billion, equivalent to $29,586 per Bitcoin.　　The company reported a total revenue of $129.5 million for the third quarter, representing a 3% year-over-year growth. Software license revenue was $45 million, marking a 16% year-over-year increase, and subscription services revenue amounted to $21 million, showing a 28% year-over-year growth.　　

2023-11-02Deep Dive

CEX Trading Volume Hits $443.27 Billion in October, Binance and Upbit Lead the Way

The Blocks data dashboard shows that the cumulative trading volume on cryptocurrency exchanges from October 1st to the present has reached $443.27 billion. Binance leads the way with a spot trading volume of $179.41 billion in October. South Korean exchange Upbit ranks second with a spot trading volume of $51.88 billion in October.　　From October to the present, Bybits spot trading volume reached $31.99 billion. Coinbase had a spot trading volume of $28.22 billion, and OKX had a spot trading volume of $27.68 billion.　　In addition, the spot trading volume (7-day average) of top platforms surpassed $240 billion on October 26, marking a new high since the end of March.　　Compared to the summer, the crypto market has experienced more pronounced volatility as traders are closely watching the impact of headlines regarding the potential launch of a “Bitcoin spot ETF.” Supporters believe this will create new channels for capital inflows. The Blocks data shows that the BTC Dvol (Deribit Bitcoin Volatility Index) has reached a new high since April.　　

2023-10-31Deep Dive

This Week's Token Unlocking

According to Token Unlocks data, multiple projects will experience token unlocks this week:　　On October 30, at 12:00, Optimism (OP) will unlock 24.16 million tokens (approximately $34.31 million), accounting for 2.74% of the circulating supply.　　On October 31, at 08:00, Sui (SUI) will unlock 4 million tokens (approximately $221,000), accounting for 0.46% of the circulating supply.　　On October 31, at 08:00, 1inch (1INCH) will unlock 21,430 tokens (approximately $6,340).　　On October 31, at 22:00, Celestia (TIA) will unlock 267 million tokens, with 200 million allocated publicly and 67 million for research and ecosystem development.　　On October 31, at 23:00, dYdX (DYDX) will unlock 2.16 million tokens (approximately $5.39 million), accounting for 1.21% of the circulating supply.　　On November 1, at 15:00, Acala (ACA) will unlock 27.43 million tokens (approximately $142,000), accounting for 3.31% of the circulating supply.　　On November 2, at 08:00, Nym (NYM) will unlock 3.13 million tokens (approximately $39,700), accounting for 0.56% of the circulating supply.　　On November 3, at 11:06, Tornado Cash (TORN) will unlock 22,840 tokens (approximately $69,000), accounting for 0.6% of the circulating supply.　　On November 4, at 18:00, Immutable X (IMX) will unlock 18.08 million tokens (approximately $12.81 million), accounting for 1.5% of the circulating supply.　　On November 5, at 08:00, Liquity (LQTY) will

2023-10-30Deep Dive

Ethereum Core Developers Confirm Dencun Upgrade Will Not Be Implemented Before Year-End

Ethereum client developers confirmed on Thursday that the anticipated Dencun upgrade will not be implemented in a network hard fork until the end of 2023.　　Last month, with the Ethereum Holesky testnet launching later than planned, it was widely believed that completing the Dencun upgrade before December was unlikely.　　An anonymous Prysm developer, Potuz, confirmed during the latest core developer call that a mainnet fork in 2023 is not feasible. He noted that over the past few months, the 10 developer networks (devnets) that were launched for testing the upgrade have consistently experienced consensus issues, with “none of them going smoothly.”　　

2023-10-27Deep Dive

PeckShield: Attackers Targeting Fantom Foundation Wallet Convert 4,390 ETH into 8 Million DAI

According to PeckShield monitoring, the attacker who targeted the Fantom Foundation-related wallets has exchanged approximately 4,390 ETH for about 8 million DAI. On October 17th, a wallet labeled “Fantom Foundation” was compromised, resulting in the theft of tokens worth around $7 million (about 4,500 ETH).　　In response, the Fantom Foundation issued a statement on the X platform, confirming that a few Fantom wallets, including approximately $550,000 of Fantom Foundation funds, were compromised. The vast majority of the Fantom Foundations funds (over 99%) were not affected and remain secure.　　Additionally, a personal wallet of a Fantom employee was impacted. Some of the affected wallets had been labeled as “foundation wallets” but were later reassigned to a Fantom employee, and this incident is considered a targeted attack on an individual. The official team is currently tracking and investigating the funds lost by the employee.　　

2023-10-27Deep Dive

Coinbase Launches 'Stand With Crypto' Initiative to Counter Proposed Crypto Taxation by the IRS

Coinbase has initiated the “Stand With Crypto” campaign aimed at opposing the transaction information collection proposed by the Internal Revenue Service (IRS) in its cryptocurrency tax laws. The campaigns webpage indicates that cryptocurrency advocates have donated over $2 million, with over 100,000 advocates participating and making over 16,000 contacts with Congress.　　The page also provides a channel for donations, and the current top three donors are barmstrong.eth ($11,584.05), wwarren.eth ($10,047.84), and bleznak.eth ($8,806.03).　　Previously, Coinbase sent a 14-page letter to the IRS expressing serious concerns about the nature and scope of the proposed tax regulations. Coinbase stated, “We have long advocated for the establishment of a tax system that treats digital assets on par with traditional financial assets. The proposed regulations will impose unprecedented, unconstrained, and unrestricted surveillance on the daily lives of Americans, allowing the government to oversee the most private healthcare decisions and even the purchase of a cup of coffee.”　　

2023-10-27Deep Dive

Analyst: BTC to Reach Its Peak in December 2025, Expected Price Between $90,000 and $130,000

Crypto analyst CryptoCon stated in a post that according to the halving cycle theory, Bitcoin (BTC) will reach the midpoint of its cycle in June 2024, with a projected price of $47,000. The next cycles peak is expected to occur in December 2025, with price projections ranging from $90,000 to $130,000.　　This model suggests that, just as in the previous white cycle, the current cycle has bottomed since its first peak in August. The black cycle has a double top, with the first peak occurring in April of the red year (blue dot). The white cycle has a single peak.　　In the black cycle, it appears that the first early peak (yellow dot) is above the second peak (purple dot). In the white cycle, the situation is the opposite.　　CryptoCon suggests that this means we are more likely to see the cycles midpoint at $47,000 in June 2024, rather than earlier.　　

2023-10-26Deep Dive

BlackRock's iShares Bitcoin Trust Listed on DTCC with Ticker Symbol IBTC

BlackRocks iShares Bitcoin Trust, with the ticker code IBTC, has been listed on DTCC (Depository Trust s important to note that this listing does not imply that the ETF has been approved by the SEC (U.S. Securities and Exchange Commission).　　

2023-10-24Deep Dive

FTX customer refund plan outlines settlement to return 90% of funds

According CoinDesk, FTX customer refund plan could return up to 90% of creditor holdings that were held at the exchange before it went bust.Recovery Proposal for Creditor Holdings at Bankrupt Crypto Exchange FTX　　The debtors‘ group, overseeing the bankruptcy process, plans to file the proposal with a U.S. Bankruptcy Court by December 16, 2023. FTX collapsed after CoinDesk published revelations about its balance sheet. The new CEO, John J. Ray III, criticized the company’s financial controls, and founder Sam Bankman-Fried is facing criminal charges.　　The proposal suggests dividing the missing customer assets into three pools based on the circumstances at the start of the Chapter 11 cases: assets for FTX.com customers, assets for FTX.US customers, and a general pool of other assets. Customers with a preference settlement amount below $250,000 can accept the settlement without any reduction in claim or payment. Creditors would also receive a “Shortfall Claim” against the general pool, corresponding to the estimated value of the missing assets at the exchange. However, there may be obstacles to the recoveries, such as taxes, government claims, and token price fluctuations.

2023-10-19Deep Dive

Tesla Maintains Steady Bitcoin Holdings for the Fifth Consecutive Quarter

According to Teslas latest quarterly financial report, in the third quarter of 2023, Tesla did not buy or sell any Bitcoin. This marks the fifth consecutive quarter in which Tesla has not conducted any Bitcoin trading. As of September 30, Tesla holds approximately 9,720 Bitcoins, with a market value of around $275.6 million.　　In previous reports, as of the end of the second quarter, Tesla did not buy or sell any Bitcoin, and the value of the digital assets Tesla holds was $184 million. This value has remained consistent for four consecutive quarters.　　

2023-10-19Deep Dive

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