Analysis conducted by CoinShares highlighted that crypto markets saw a fifth consecutive week of outflows with the current week totaling a $32.1 million loss. CoinShares sourced data from digital asset investment providers, such as Grayscale and ProShares, which cater to institutional and accredited investors. Head of Research at CoinShares, James Butterfill, commented this was due…
Since the last wMarket report on Friday, the cryptocurrency market saw net outflows of $0.43 billion and currently stands at $1.12 trillion — down 0.04% from $1.12 trillion. Since May 19, the Bitcoin (BTC) and Ethereum (ETH) market caps fell 0.01% and 0.5% to $520.14 billion and $218.57 billion, respectively. The top 10 crypto assets…
Bankrupt crypto lender Genesis has filed a motion to extend the exclusivity period for its reorganization plan by 100 days. Why Genesis sought an extension In a May 19 court filing to the United States Bankruptcy Court for the Southern District of New York, the bankrupt lender, said it needed the extension “to achieve a…
Jack Mallers denied tricking people about Strike’s expansion plans. The comment came in response to a tweet from @fiatjaf, who played down the new plans’ significance, release timeline, and impact in the broader crypto industry. “So Strike is just a normal dumb custodial sh*tcoin wallet with integrated exchange and no interface to the banking system…
Quick Take Spot market total volume for cryptocurrency exchanges has hit a new low year to date, which further supports the CryptoSlate thesis of lack of liquidity in the market. The current 7-day moving average of exchange volume is $10.4 billion, the lowest level in 2023, which peaked in March at $46.26 billion. The concern…
Michael Saylor, MicroStrategy CEO, has recently voiced his support for developing the Ordinals protocol as a critical component in scaling the cryptocurrency to a broader audience. Saylor believes that Ordinals inscriptions are crucial for Bitcoin and gave two primary reasons in a video shared by the CEO of Ninja Alerts, Trevor Owens. Firstly, for Bitcoin…
Crypto exchange Hotbit said it would halt all operations on May 22 by 04:00 UTC, advising its users to withdraw their assets before June 21. Why Hotbit is shuttering operations In a May 22 statement, Hotbit explained that centralized exchanges had witnessed a continuous outflow of funds following the several crises that hit the crypto…
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Crypto exchange Huobi was ordered to stop operating in Malaysia by the Securities Commission (SC) of the Asian country. The regulator issued a public reprimand to Huobi CEO Leon Li. In a May 22 press statement, Malaysia’s SC said Huobi operated in the country illegally because it failed to register as a digital asset exchange…
What is CryptoSlate Alpha? A web3 membership designed to empower you with cutting-edge insights and knowledge. Learn more › Connected to Alpha Welcome! 👋 You are connected to CryptoSlate Alpha. To manage your wallet connection, click the button below. Oops…you must lock a minimum of 20,000 ACS If you don’t have enough, buy ACS on…