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Bitcoin and Ether tumble as crypto market turmoil escalates
Cryptocurrencies plummeted on Monday as global markets faced increased risk aversion. Bitcoin dropped over 16%, trading 11% lower at $52,680, while Ether fell by more than 20% before recovering slightly. The selloff reflects broader economic concerns, geopolitical tensions, and market volatility. With Bitcoin briefly falling below $50,000 and major digital assets suffering losses, investors are cautious amid intensified global stock selloffs and fluctuating interest rates. Sign up for your early morning brew of the BizNews Insider to keep you up to speed with the content that matters. The newsletter will land in your inbox at 5:30am weekdays. Register here ....
Ethereum co-founder transfers 20,000 ETH to Kraken as price hits $3,600
Ethereum's price rally might encourage sales, yet Wilcke retains a large crypto reserve. Key Takeaways Jeffrey Wilcke transferred 20,000 ETH to Kraken on Nov. 28. Wilcke has sold a total of 44,300 ETH in 2024, maintaining a position of approximately 106,000 ETH. A wallet connected to Ethereum co-founder Jeffrey Wilcke moved 20,000 ETH worth $72.5 million to crypto exchange Kraken, according to data tracked by Arkham Intelligence. The transfer took place shortly after Ethereum’s price topped $3,600 earlier this morning. Source: Arkham Intelligence According to Spot on Chain, Wilcke sold 10,000 ETH for approximately $37 million in May. He has...
Binance’s latest 1.6M token burn – Enough to push BNB above $600?
contributor 1.64 million BNB tokens worth nearly $970 million were burned in the second quarter of 2024. Recent price action shows resistance around $600 level. Binance Coin [BNB] has completed another significant token burn in the second quarter of 2024. Data from Bscscan reveals 1,643,698.8 BNB tokens were removed from circulation, valued at approximately $969 million at the time of the burn. This substantial reduction in supply continues BNB’s deflationary trend. Source: Bscscan The burn rate remains strong, aligning with Binance long-term strategy to reduce its total supply. Each quarterly burn is aimed at reducing the circulating supply contracts and...
