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Bitcoin Whales Multiplying at Rapid Rate, Shattering All-Time High As Big Buyers Bet on BTC

Crypto analytics firm Santiment is revealing that deep-pocketed investors are swiftly scooping up BTC as the number of Bitcoin whales hits an all-time high. The firm says that the number of whales holding a minimum of 1,000 BTC broke records earlier this week. “Bitcoin’s number of whale addresses with at least 1,000 BTC has reached […]

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Crypto analytics firm Santiment is revealing that deep-pocketed investors are swiftly scooping up BTC as the number of Bitcoin whales hits an all-time high.

The firm says that the number of whales holding a minimum of 1,000 BTC broke records earlier this week.

“Bitcoin’s number of whale addresses with at least 1,000 BTC has reached an all-time high of 2,323 with Tuesday’s market close (January 5th, 2021).”

According to the on-chain insights platform, the growing number of Bitcoin whales is a positive signal for BTC’s bull market.

“There may not be a more notable bullish metric than one pointing to growing holders with $33.7M+ on the line.”

Source: Santiment/Twitter

Data from US-based crypto exchange Kraken corroborates Santiment’s conclusions. Kraken says the growing number of Bitcoin whales, as well as the movement of the flagship crypto asset from exchanges to other storage options, indicate that the flagship cryptocurrency still has more upside potential.

“Additional whale accumulation and outflows off exchanges amid BTC’s parabolic climb indicates that well-capitalized market participants believe BTC has incremental upside in the near-term despite the move into uncharted waters.”

Kraken reveals the number of BTC in whale addresses hit an all-time high of 11.46 million in 2020. The cryptocurrency exchange adds that the number of addresses holding more than 100 Bitcoin surged above 16,300 – the highest level since March 2020.

Kraken also discloses that whales holding over 100 Bitcoin accumulated 47,500 BTC in December as the flagship cryptocurrency pulled off a massive rally.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Tory Kallman

Source: https://dailyhodl.com/2021/01/09/bitcoin-whales-multiplying-at-rapid-rate-shattering-all-time-high-as-big-buyers-bet-on-btc/

Blockchain

How Top U.S universities are privately increasing their Bitcoin holdings

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How Top U.S universities are privately increasing their Bitcoin holdings

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Over the years, the acquisition of Bitcoin amongst investment companies has become a common practice, but the industry looks to be expanding as universities are now securing their spot in the Bitcoin market. According to Coindesk, sources aware of this activity have disclosed that leading U.S institutions have quietly been increasing their Bitcoin assets over the past year.

These are not just any institutions; In fact, these are some of the universities with the highest endowment funds in the United States. Harvard (over $40 billion), Yale (over $30 billion), and Brown ($4.7 billion) are three out of the eight ivy league colleges in the country that are said to be a part of the list. The highly reputable Michigan University ($12.5 billion) is also said to be following in the footsteps of the Ivies. Apparently, Coinbase has been the middleman facilitating the transactions. It was revealed that these institutions have been buying directly from the Coinbase exchange. 

The spokesperson who asked to be anonymous told Coindesk that there are a sizeable number of institutions currently pouring funds into crypto assets. “There are quite a few. A lot of endowments are allocating a little bit to crypto at the moment.”

But the interest in cryptocurrencies began in 2019 and Coinbase is being speculated to have held the funds for the institutions for as long as 18 months, according to the source, who notes that said institutions are likely cashing in on a decent return on investment and could possibly make their Bitcoin acquisitions public this year. The source is quoted saying;

“It could be since mid-2019. Most have been in at least a year. I would think they will probably discuss it publicly at some point this year. I suspect they would be sitting on some pretty nice chunks of return.”

Another source who is a part of the crypto hedge fund industry asserted that public pension plans are soon to begin allocations in the coming months.

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 “We are seeing defined benefit pension plans getting close to making allocations. We are seeing public pension plans getting close to making allocations,”

Ari Paul, the cofounder of BlockTower Capital chimed in saying; “If I had heard that three years ago, I would have said it was wrong,”.

“But a lot of institutions are now comfortable with Bitcoin. They understand it and can just buy it directly, as long as it’s from a regulated entity like Coinbase, Fidelity or Anchorage.”


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The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.

Source: https://zycrypto.com/how-top-u-s-universities-are-privately-increasing-their-bitcoin-holdings/

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Blockchain

Solana targets growth in Southeast Asia with a $5M grants scheme

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Solana has turned its focus towards decentralized finance in Southeast Asia with a new $5 million development fund.

The Solana Foundation created the fund in partnership with Vietnam-based investment firm Coin98 Ventures, enabling regional startups building on Solana to receive technical, marketing, and community support, as well as up to $100,000 in funding. The fund will run for the next three years with a specific focus on projects within the DeFi and Web3 spaces, including marketplaces, exchanges, and other DApps or tooling.

This is one of the first grants specifying a core region of interest, with a particular focus on Vietnam. Solana Foundation Executive Director Eric Williams:

“Our goal is to create the optimal conditions for developers in Southeast Asia to build amazing things on Solana.”

According to the announcement, “project teams may be distributed, but must have a physical presence in Southeast Asia.” The announcement makes it clear that if they do not have a presence there, they will not qualify for the fund.

Williams explained that the foundation partnered with Coin98 Ventures because of the technical and community support they can provide, adding that the key to this fund being successful is the combination of financial and technical support:

“Sometimes hurdles can be solved with extra money, other times they cannot.”

DeFi is gaining traction within the Solana ecosystem, driving trading volume to all-time highs earlier this month.

Using treasuries and fund campaigns to boost developer ecosystems within blockchains is common with programs already available for a range of blockchain networks including Bitcoin, Ethereum, OkCoin, and Polkadot.

In September last year, Polkadot received one of the largest fund boosts to date with Digital asset development company RockX investing $20 million to support the Polkadot ecosystem over the next five years.

Source: https://cointelegraph.com/news/solana-targets-growth-in-southeast-asia-with-a-5m-grants-scheme

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US SEC charges crypto trader ‘Coin Signals’ in $5 million fraud case

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United States Securities and Exchange Commission (SEC) charged a cryptocurrency trader for allegedly being involved in a ponzi scheme defrauding more than $5 million from over 170 investors. The accused, Jeremy Spence, who goes by the name “Coin Signals,” was charged in Manhattan Federal Court for “soliciting funds” for various crypto funds that he operated. 

Federal authorities claimed that Spence operated a Ponzi scheme and that his offenses include “commodities fraud and wire fraud.” According to SEC, investors transferred Bitcoin and Ethereum to Spence, so that he could invest the assets on their behalf.  

Federal Bureau of Investigations (FBI) Assistant Director-in-Charge William Sweeney Jr claimed that Spence enticed investors by giving them false information about the “success of his investment platform.” The trader allegedly used money from new investors to pay off others in order “to keep his plan moving” which the FBI Director said was “a  typical marker of a Ponzi scheme.”

The official complaint read:

Spence solicited investments for several Funds, the largest and most active of which were the Coin Signals Bitmex Fund, a/k/a the “CS Mex Fund,” the Coin Signals Alternative Fund, a/k/a the “CS Alt Fund,” and the Coin Signals Long Term Fund. 

Manhattan US Attorney Audrey Strauss alleged that Jeremy Spence lured investors to his crypto “investment scam” by promising returns of up to 148%.  The Attorney further said:  

Spence’s investments not only failed to reach his audacious claims, they consistently lost money, leaving a $5 million void in his clients’ crypto accounts.

According to the Commission, Spence was arrested this morning in Rhode Island. He could face nearly 30 years in prison if authorities convict him on all charges. 

Source: https://ambcrypto.com/us-sec-charges-crypto-trader-coin-signals-in-5-million-fraud-case

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