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Tether’s newest reserve attestation shows the highest-ever percentage of cash equivalents, with most reserves consisting of U.S. T-bills and repurchase agreements. The reserves for stablecoin issuer Tether contained approximately 86% cash and cash equivalents as of September 30, according to a new attestation report from accounting firm BDO. This is the highest percentage of cash and cash equivalents that have ever made up Tether’s reserves. Tether today releases its attestation for Q3 /2023.- cash & cash equivalent portion of reserves is all time high at 85.7%, yielding ~$1B - US T-bill (direct and indirect) exposure at $72.6B - reduced secured loans by $330M - investments in energy, bitcoin mining and P2P tech… https://t.co/PXQ1H5gqUX pic.twitter.com/ibKJRPlBAg — Paolo Ardoino (@paoloardoino) October 31, 2023 According to the report, $56.6 billion worth of reserves are in U.S. Treasury bills with a maturity date of less than 90 days. Meanwhile, another $8.8 billion wa...

The total market value of cryptocurrencies using the proof-of-stake consensus algorithm decreased by 7% at the end of Q3 to $254 billion. Such estimates are provided by the Kraken-related platform Staked. According to experts, the market share of such coins decreased by 2% to 22%. Ethereum (ETH) dominance in this segment – by 1%, to 79%. Source: Staked “ The lack of near term catalysts, regulatory uncertainty, and macro challenges left markets in a holding pattern. “ Staked report The value of assets locked in staking increased by 3% to $74b. Annualized rewards in value terms decreased by 7%, to $4.1b. The profitability of such operations amounted to 10.2%, which is 0.4% less than in Q2. Source: Staked The share of blocked coins from their current supply reached a record 52.4% (49.3% in Q2). The leaders in this regard were Aptos (84.1%), Sui (80.5%), Mina (77.6%), Solana (71.9%) and Cosmos (67.6%). The median value among the top 35 coins was 52.6%. ...

Investment firms Invesco and Galaxy Digital allegedly filed for a spot Ethereum ETF with the U.S. SEC on Sept. 29. Asset managers keep pursuing digital asset products, as Invesco and Galaxy Digital allegedly filed for a spot Ethereum (ETH) exchange-traded fund (ETF) on Sept. 29.  Bloomberg ETF analyst James Seyffart disclosed the filing on X (formerly Twitter), even though the application hasn’t been uploaded to the SEC’s public database at the time of writing. Invesco Galaxy just filed for a spot Ether ETF, I think this is the 3rd of 4th one of these, have to check tho.. pic.twitter.com/SIJVu8VzFk — Eric Balchunas (@EricBalchunas) September 29, 2023 A spokesperson for Invesco declined to confirm the application, stating that products still being registered cannot be commented on. Cointelegraph reached out to Galaxy, but did not immediately receive a response. With the Sept. 29 filing, Invesco and Galaxy join a growing line of investment managers seeking regulatory approval for...

According to data from Whale Alert, an unknown wallet has transferred 15,000 Ethereum (ETH) to the crypto exchange OKEx. The value of the ETH is a whopping $23.8 million. The sizeable transfer and the unknown nature of the sender have raised a few eyebrows in the crypto community. Moreover, it is unclear if the tokens are from ETH’s ICO (Initial Coin Offering) era or were purchased later. It is possible that the wallet belongs to OKEx and the exchange is moving its funds around. It is also possible that the wallet belongs to an Ethereum (ETH) whale who is booking profits. If that is the case, then there could be an increase in sell pressure on ETH in the coming days. ETH has once again fallen below $1.6k, and the wallet owner may be giving in to pressure. However, there is no confirmation in either of the instances. Also Read: Ethereum Wallet Wakes Up After 8 Years With 522210% Gains Source: WhaleAlert Additionally, GlassNode data highlighted that ETH addresses holding...

JPMorgan analyst Nikolaos Panigirtzoglou called Ethereum’s network activity levels since its Shanghai upgrade “disappointing.” Shanghai enabled withdrawals for Ethereum’s proof-of-stake validators. It activated on April 12 this year. Since that upgrade, Ethereum ’s market capitalization, daily transactions, daily active addresses, and DeFi total value locked (TVL) have all declined. To be precise, the market capitalization of Ethereum has declined 17% from $230 billion when Shanghai activated to $190 billion today, while daily transactions have dropped 14% from 1 million at activation to 860,000. Daily active wallet addresses on the Ethereum network also fell 19% from 438,000 to 351,000 while Ethereum’s total value locked (TVL) — a popular metric of the amount of money committed to so-called decentralized finance (DeFi) applications on a blockchain — declined 30% from $30 billion to $21 billion today. Ethereum-based NFTs have continued to fade in popularity. Tens ...

Polygon has allocated an estimated $1 billion on zero-knowledge technology underpinning its Ethereum scaling layer 2 solutions. Polygon co -founder Sandeep Nailwal believes the layer 2 blockchain firm is reaping the benefits of allocating $1 billion to develop zero-knowledge proof (ZK-proof) powered scaling solutions for the Ethereum ecosystem. Speaking at a keynote address during the latest edition of the Token2049 conference in Singapore, Nailwal touched on the development of 'Polygon 2.0' scaling efforts and the promise of recursive ZK-proof technology to create a seamless interoperable blockchain ecosystem. Polygon co-founder Sandeep Nailwal at Token2049 in Singapore. Nailwal highlighted how Web2 and Web3 are similar in form and function, with the former serving as the internet of information with “practically unlimited scalability” as well as the ability to transfer or convey information in various forms seamlessly across the world at great speeds. Related: Polygon’s ‘h...

The market expects annual CPI to come in at 3.6%, higher than July’s CPI of 3.2%. Also, the core annual CPI for August cooling to 4.3% against 4.7% in July. The market forecasts monthly core PPI data to again cool to 0.2%. advertisement The U.S. Federal Reserve is likely done with rate hikes as the jobs market cools and the unemployment rate climbed last month. Traders now await the CPI data this week to confirm the market direction, while they take caution during September, a historically worst month for markets. CME FedWatch Tool shows a 93% probability of announcing a pause at the next FOMC meeting on September 20. Wall Street analysts also believe a possible rate hike at the end of the year. Meanwhile, the US dollar index (DXY) still remains higher above 104.50, risking BTC price to continue under pressure. In addition, the European Central Bank will announce its interest rate hike decision on Thursday. The forecast is for a pause amid continuous rate hikes sin...

Orbital, ZTX, Stroom Network, unshETH and Fxhash highlight the latest funding deals from the world of crypto and blockchain. The sharp increase in global interest rates may have limited investors’ appetite for crypto ventures, but new projects are still flourishing and attracting capital to speed up growth. Data from the Cointelegraph Research Venture Capital Database shows June closed out with a 29.73% decrease in venture capital investments, with just $779.32 million secured in 62 deals, compared to June 2022. However, the overall trend for the year shows a rise in venture capital deals. Cointelegraph’s VC roundup highlights the latest projects striving in this complex and competitive environment. Orbital raises $6.4M to expand enterprise blockchain services Enterprise crypto platform Orbital raised $6.4 million (5 million euros) in a funding round led by venture firm Golden Record Ventures. Additional investors included New Form Capital, GSRV and Luminous Futures. The funding will...

This week’s episode of Market Talks discusses why 2024 could be bullish for the crypto industry and if crypto has weathered the storm. This week’s episode of Cointelegraph’s Market Talks welcomes Huf, the founder of Pear Protocol, a new decentralized exchange launching on Arbitrum in 2023. Huf worked as an equity derivatives trader for various investment banks for over a decade before entering the decentralized finance industry in 2019. He is often quoted in various news outlets for his views on the markets, which he shares in real time via his X (formerly Twitter) profile. The show kicks off with Huf’s views on the current crypto market. Is it in need of a new stimulus and new money? Is it a closed system with the same money rotating from one protocol to the next or one blockchain to another? Is that the reason for such record-low volatility?  Do narratives drive the current crypto market? If so, how can a trader or investor make the right decisions based on those narratives? Huf ...

The crypto industry collectively celebrated when the world’s largest asset manager, BlackRock, applied for a spot Bitcoin (BTC) ETF (exchange-traded fund). The move led to a rally for BTC with other major assets following suit soon after. However, there are also several Ethereum ( ETH ) futures ETF s currently awaiting approval. The race for ETH ETF s is equally contested by major financial players. Also Read: BlackRock Bitcoin ETF Has 50% Chance For SEC Approval? Currently, six ETH futures ETF filings await approval. These include Ether Strategy ETF, Bitwise Ethereum Strategy ETF, Roundhill Ether Strategy ETF, VanEck’s Ethereum Strategy ETF, Proshares Short Ether Strategy ETF, and the Grayscale Ethereum Futures ETF. It should be noted that BlackRock has not applied for an ETH ETF as of yet. Why are firms interested in an Ethereum futures ETF? Source: Redot.com Futures ETFs provide exposure to futures contracts for ETH, unlike spot ETFs. The SEC’s concerns abou...

Bitcoin is at the pivotal 50-day SMA support and a drop below this level could result in accelerated selling in BTC and altcoins. Bitcoin (BTC) plunged to $29,000 on July 24, signaling that bears are trying to seize control. It looks like the failure to hold on to the higher levels may have tempted short-term bulls to book profits and aggressive bears to initiate short positions. Although the near term looks bearish, long-term investors remain unfazed and they continue to hold on to their positions. Glassnode data shows that Bitcoin’s Long-Term Holder Supply made a new high of 14.52 million Bitcoin, “equivalent to 75% of the circulating supply.” Daily cryptocurrency market performance. Source: Coin360 While the cryptocurrency markets have turned soft in the near term, the United States equities markets remain on a strong footing. The Dow Jones Industrial Average has risen for ten straight days, its longest streak since 2017. However, things could change this week with a slew of key ea...

Decoupling Visible In Crypto Market As reported by a Defi Researcher on Twitter, there is a decoupling between DeFi and NFTs highlighting the divergent trends within the crypto market. Over past 07 days, DeFi Tokens are on the Rise advertisement Ethereum -based lending protocol Compound (COMP) has surged by 80% and Pendle ($PENDLE) has seen a remarkable increase of 66%, especially after Binance announcement of its listing in Innovation Zone and Launchpool. Decentralized stablecoin minter Maker ($MKR) has enjoyed a solid rise of 32% while DPI, the DeFi Pulse Index, has shown a growth of 12.6%. MKR’s weekly gains of over 30% have occurred amid increased revenue on the protocol and reports of whale accumulation. At the same time, NFT tokens are facing decline. Beanz has witnessed a significant drop of 69% and Azuki has seen a decline of 58%. Moonbirds has experienced a dip of 24% and Bored Ape Yacht Club (BAYC) has faced a decrease of 23%. Also Rea...

The 5-year U.S. Treasury yield reached its highest level in 3 months, but the typical inverse correlation-based price action with Bitcoin might not work this time. United States Government bonds, or Treasurys, have a tremendous influence across all tradeable markets, including Bitcoin (BTC) and Ether (ETH). In that sense, risk calculation in finance is relative, so every loan, mortgage and even cryptocurrency derivatives depend on the cost of capital attributed to U.S. dollars. Assuming the worst-case scenario of the U.S. government eventually defaulting on its own debt, what happens to the families, businesses and countries holding those bonds? The lack of interest debt payments would likely cause a global shortage of U.S. dollars, triggering a cascading effect. But, even if that scenario comes to fruition, history shows us that cryptocurrencies may work as a hedge during periods of uncertainty. For instance, Bitcoin vastly outperformed traditional wealth preservation assets during t...

Ethereum (ETH) prices are roughly 18% from June 2023 lows at the back of increasing ETH staking and massive withdrawals from centralized cryptocurrency exchanges like Binance and Coinbase.  As of June 25, ETH is changing hands at $1,912, steady in the past two days but trading within a bullish formation following sharp gains this week.  Further buoyed by fundamental factors, traders are confident that there could be more price gains above immediate liquidation levels, including April 2023 highs at $2,100. More ethereum staked According to Etherscan data, there have been over 216,000 transactions that have seen users stake over 25.5 million ETH worth over $48.9 billion at spot rates. Notably, this trajectory has been steadily rising, indicating support from the broader Ethereum community and confidence in the state of the network. You might also like: Ethereum’s zkSync Era reaches $500m in TVL Ethereum recently shifted from a proof-of-work to a proof-of-stak...

Since Binance and Coinbase were sued for offering unregistered securities, Dorsey has tweeted posts promoting a focus on Bitcoin development. Long-time Bitcoin (BTC) advocate Jack Dorsey has found himself in a Twitter war with several crypto industry pundits after he responded with “yes” to a question asking if Ether (ETH) was a security . The comment caught the attention of Udi Wertheimer, a Bitcoin Ordinals developer at Taproot Wizards, who inferred Dorsey was a “clown” in a tweet on June 6. In response, Dorsey tweeted “ETH is not a security ? Teach me wizard,” which prompted Wertheimer to share a five-year-old video of the United States Securities Exchange Commission (SEC) chair Gary Gensler stating that ETH was now “sufficiently decentralized” and wasn’t a security . clowns. pic.twitter.com/S8AiJwuMem — Udi Wertheimer (@udiWertheimer) June 6, 2023 However, Gabor Gurbacs, strategy advisor to stablecoin issuer Tether and investment management firm VanEck weighed in on Werthei...