📈 Mixed Fortunes for US ETH ETFs: Blackrock, Fidelity and Bitwise Thrive Amid Market Shifts

🚀 Blackrock's ETHA has soared, amassing a staggering $901.26 million in gains since Jul. 23, leading the pack of ethereum ETFs.

💼 Not far behind, Fidelity's FETH has made an impressive showing with $341.7 million in collections, proving its mettle in the evolving market.

🌐 Bitwise's ETHW secures the third spot, raking in a commendable $299.66 million, while Grayscale's Mini Ethereum Trust (ETH) follows closely with $220.65 million.

💰 Vaneck's ETHV and Franklin Templeton's EZET hold their ground with solid inflows of $67.82 million and $34.32 million, respectively.

💪 Invesco's QETH and 21shares' CETH may be trailing, but they're still attracting attention with inflows of $14.3 million and $10.76 million.

🏦 Together, these nine funds boast an impressive stash of $7.28 billion, representing a notable 2.34% of ethereum's net market value.

🥇 Leaders in both the bitcoin and ethereum ETF space, Blackrock, Fidelity, Bitwise, and Grayscale continue to dominate as top holders of these digital assets.

📈 Bitcoin Miners Expand Capacity Amid Profitability Struggles

💥 Miner Outflows Surge as Bitcoin's Value Dips

The latest report from Cryptoquant reveals that despite Bitcoin's network hashrate reaching new heights, the leading cryptocurrency is trading at a 19% drop from its peak. Miner outflows have spiked to 19,000 BTC, the highest since March 18, indicating growing miner capitulation.

⚡️ Challenges Mount as Profit Margins Shrink

Operating profit margins for miners have dwindled to 25%, the lowest since January 2024. This has led to concerns about profitability, but interestingly, miners are still expanding their capacity to mine more Bitcoin.

🔍 Miners Underpaid as Hashprice Hits Record Low

Cryptoquant's Miner Profit/Loss Sustainability metric suggests that miners are being underpaid due to the combination of increasing mining difficulty and a record-low hashprice of $0.038 per TH/s. These factors are putting pressure on miners' bottom lines.

🐋 Big Miners Accumulate While Smaller Ones Hold Steady

While larger miners continue to accumulate BTC, smaller miners seem to be holding onto their holdings. The total BTC holdings of larger miners now stand at 66,000 BTC, signaling a potential trend if current conditions persist.

⛏ Miner Capitulation: A Sign of Local Bottoms?

Historically, miner capitulation has often coincided with local bottoms in Bitcoin prices during bull markets. Past events in March 2023 and January 2024 serve as examples. With BTC currently trading at $58,829, could this be another opportunity?

Despite the challenges faced by miners and the recent dip in Bitcoin's value, the crypto market remains dynamic and full of potential for both investors and enthusiasts alike.

🚨 Just-In: Crypto Hack Leads To $238M Bitcoin Theft, Lazarus Group Involved? 😱

A major crypto hack led to loss of $238 million in Bitcoin today and the community speculated on the involvement of the notorious Lazarus Group.

👉 Read more

📉 Ethereum Fees Plummet—Etherscan Adds Decimals to Keep Up With Gas Drop

🔻 Ethereum users, rejoice! Transaction fees on the blockchain have hit rock bottom. According to Etherscan's gas tracker, the highest fee you'll pay is a mere 4.399 gwei, or about $0.20. Swapping on a dex? That'll be around $3.45. Listing an NFT? Budget for $5.83. Bridging and borrowing? Expect to shell out $1.11 and $2.93 respectively.

🔍 To accommodate these microscopic fees, Etherscan has gone granular, introducing decimal points to its gas tracker. "Better accuracy," they say.

⬇️ The trend isn't limited to Ethereum alone. Bitcoin users are also enjoying reduced fees for block space. On Ethereum, the average transfer fee is 0.00035 ETH ($0.906), while the median-sized fee clocks in at 0.0001 ETH ($0.264). In comparison, Ethereum's daily validator rewards are a mere 1.18% of Bitcoin miners' haul.

It's a great time to be transacting on the blockchain—your pockets will thank you!

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🔒Dormant Bitcoin Wallets Awake: $20.3M in Motion After Years of Silence

💤 A Decade Later, Bitcoin Stirs: In a surprising twist, a 2014 wallet that had been gathering digital dust for almost ten years suddenly sprang to life, transferring 200 BTC. This unexpected activity coincided with BTC's value at a staggering $59,360 per coin.

🔄 From Legacy to Segwit: The transaction journeyed from an old-school P2PKH address to a modern Bech32 address, where the funds now rest. Blockchair's privacy tool raised an eyebrow, scoring it 45/100 due to repetitive address appearances and the sweeping of funds.

💰 From Modest Beginnings: Originally acquired for a mere $91,000, this long-dormant treasure trove has now ballooned to an impressive $11.8 million. Talk about a return on investment!

⏳ Time Capsule Unearthed: Not long after, another blast from the past emerged as a 2013 wallet made its move, shifting 142.59 BTC. This vintage transfer also hailed from a P2PKH wallet and found its way to another similar address.

📈 Value Appreciation: Back in 2013, these coins were worth around $84,270.69, but today they've skyrocketed to approximately $8.47 million. A remarkable testament to Bitcoin's growth over time.

🚀 BCH Bonus: While the BTC woke up, its sibling currency BCH remains snugly asleep in those same old addresses, totaling a noteworthy sum of $116,470. Will it ever join the awakening?

The crypto world is abuzz as these slumbering wallets stretch their digital legs, reminding us that in the realm of Bitcoin, even the oldest stories can still hold surprises worth millions.

🚀 Wazirx Resumes INR Withdrawals: Users to Reclaim 66% of Funds Amidst Cyberattack Fallout

💰 Good news for Indian crypto enthusiasts! Wazirx, the popular exchange, is finally getting back on track after the cyberattack that shook the platform and left users anxious about their funds.

🔒 While crypto withdrawals remain temporarily suspended due to the significant loss of ERC-20 tokens, there's a silver lining. Starting from August 26, you can gradually reclaim your INR balances in a phased manner.

🌐 Wazirx isn't taking this lightly. They're going the extra mile by implementing a Singapore Scheme of Arrangement, ensuring fairness and legal compliance in distributing remaining assets. Your involvement matters!

💸 From August 26 to September 8, eligible users can withdraw up to half of their INR balances, providing some much-needed financial relief. And it gets better! From September 9 to September 22, you'll have access to the full ~66% limit.

📉 To ease the burden during these challenging times, Wazirx is slashing withdrawal fees by a whopping 60%, making it more affordable for you to access your hard-earned funds.

So mark your calendars and get ready to regain control over your finances with Wazirx's phased INR withdrawals. The road to recovery may be slow, but progress is definitely on the horizon! 💪

📉 Bitcoin's Rough September Price History Raises Questions for 2024

🔍 With September on the horizon, bitcoin (BTC) is currently down 2.74% as of Aug. 27, 2024. August's calmness makes this decline ordinary. But September's track record isn't comforting, with eight out of the last 11 years ending in the red.

🐂 Even during bullish years like 2013, 2017, and 2021, September was no friend to bitcoin. The toughest blow came in 2014 when BTC took a 19.01% plunge. However, hope flickers for a different outcome this time, thanks to the upcoming U.S. election.

🗳 The 2024 election has intertwined itself with bitcoin's bull market cycle, stirring speculation about its impact on BTC's price. Another potential game-changer is a Federal Reserve rate cut during the FOMC meeting in September.

💹 A rate cut of either 25bps or 50bps could give BTC prices a boost. October has often been kinder to bitcoin, rewarding traders with substantial gains in nine out of the past 11 years.

⚖️ While history hints at a challenging September for bitcoin, the unique dynamics of 2024—election fever and central bank moves—may defy expectations. Market participants will keep their eyes peeled as they know that past patterns don't always dictate future trajectories.

🔍 Washington State Probes Alleged Crypto Fraud Linked to Fake Nasdaq Exchange

🚨 The Washington State Department of Financial Institutions (DFI) is on the case! They're investigating a complaint that has raised eyebrows in the cryptocurrency world. It's all about a fraudulent crypto platform claiming to have ties with the mighty Nasdaq Stock Exchange.

💰 Here's how it went down: an investor got lured into this shady scheme through a Facebook ad. The conversation quickly shifted to Whatsapp, where things took a turn for the worse. Our investor friend ended up putting in a hefty sum of $200,000.

💸 The plot thickens! The account seemed to be doing well, reaching a value of around $659,000. But when our investor tried to cash out, they hit a roadblock. Surprise, surprise! They were asked to cough up some cash for "taxes" before getting their hands on the moolah.

📢 Hold your horses! The DFI wants everyone to know that the real Nasdaq has nothing to do with this mess. They don't dabble in cryptocurrencies, folks! As for the complaint specifics, they're still digging, but they've got a hunch:

⚠️ This smells like an old trick called an 'Advance Fee Fraud.' You pay up front, and then... well, good luck seeing that money again!

🔒 Lesson learned? Be cautious with unsolicited investment offers, especially on social media or messaging apps. If you smell something fishy, don't hesitate to report it to the DFI or your local securities watchdog. Stay safe out there!

📢 New Listings Alert: DOGS and NOT Tokens Now on CEX.IO!

🌐 CEX.IO, a leading global crypto exchange, has just announced the listing of DOGS and NOT tokens.

These tokens are now available for buying, selling, and converting for all customers outside the U.S.

💳 In addition, token holders in Europe can now use $DOGS and $NOT directly for payments via Google Pay or Apple Pay by adding it to their CEX.IO crypto debit cards — no additional conversions needed.

🕵️‍♂️ Bitcoin's Vintage Wallets Awaken, But Spending Slows: A Sign of Strategic Patience?

💤 August witnessed a slumber for dormant 2010 wallets, with no signs of activity. These vintage addresses are becoming scarce, but three from 2011 did break their silence, transferring 98.18 BTC after a decade of stillness.

📈 2013 wallets saw more action, with 37 transactions moving a hefty 870.9 BTC, including a notable transfer of 250 BTC. Even 2014 wallets joined the party, moving 444.94 BTC in six transactions.

⏳ However, the pace slowed for 2015 and 2016, with modest transfers totaling 0.015 BTC and 185.95 BTC respectively. It was the 2017 wallets that showed the second-highest activity, with 27 transactions moving 680.23 BTC.

💰 In total, these vintage movements accounted for around 2,291.20500001 BTC, worth roughly $131 million. Yet, this figure pales compared to July's 6,536.17 BTC and June's 4,681.438 BTC.

🚀 The decline in spending hints at a cautious approach by long-term holders, perhaps reflecting market uncertainty or strategic patience. As we enter 2024, it seems these bitcoin veterans are tightening their grip on assets, waiting for even greater price surges.

📉 Bitcoin and Ethereum ETFs Suffer $74 Million Outflow as Grayscale Funds Take a Hit

💸 BTC Exodus: On Wednesday, both bitcoin and ethereum ETFs experienced significant outflows, with the 12 BTC funds losing a total of $37.29 million. Leading the pack was Grayscale's GBTC, which saw a hefty drop of $34.25 million. Fidelity's FBTC and Vaneck's HODL fund also faced losses.

📈 BITB Breaks the Mold: Amidst the gloom, Bitwise's BITB stood strong, attracting $9.46 million in inflows and bucking the trend of divestment.

⚖️ ETH Equilibrium: The nine ETH-based funds witnessed a similar story, with a collective outflow of $37.51 million. Grayscale's ETHE took the biggest hit, while its Mini Ethereum Trust managed to gain some ground.

🔄 Stagnant Ether: Other ether funds remained stagnant, showing no significant changes in value during this period of flux.

📊 Market Impact: Bitcoin funds now hold an impressive $52.58 billion, accounting for 4.59% of the cryptocurrency's market cap. Meanwhile, ether ETFs hold $6.73 billion, representing 2.28% of ethereum's market value.

🔒 Vitalik Buterin's Ethereum Commitment: No Rumored Sales, Just Charitable Support

🚀 Ethereum's Vitalik Buterin made waves in August with a wallet transfer, but he quickly cleared the air on rumored sales. Since 2018, he emphasized, it's been all about backing valuable projects and charitable causes, not personal profit.

🔄 On Sept. 5, Buterin reiterated his stance, extending it to layer two (L2) tokens and future investments. His focus? Supporting what he sees as undervalued gems in the Ethereum ecosystem or even wider-reaching initiatives like biomedical R&D.

💡 When questioned about potential investment gains for future good deeds, Buterin highlighted the power of making a clear example and fostering confidence in his intentions. It's not just about the numbers; it's about setting a course for Ethereum's long-term success.

In a world where crypto can sometimes feel like a wild ride, Buterin's steadfast commitment to Ethereum's growth and the betterment of humanity shines through. 🌟

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🚀 Bitcoin ETFs Continue to Soar, Attracting $117M in New Investments

💰 In a second consecutive day of growth, spot bitcoin ETFs experienced a surge in inflows, with a whopping $116.96 million pouring into the market on Tuesday. Leading the pack was Fidelity's FBTC, raking in an impressive $63.16 million, closely followed by Grayscale's Mini Bitcoin Trust with $41.13 million. ARK Invest and 21shares' ARKB also secured a respectable $12.68 million.

📈 While these twelve funds celebrated gains, the remaining nine remained steady, neither gaining nor losing ground during the session. With this latest influx, total net inflows since January 11 have now reached an astounding $17.04 billion, bolstering the combined holdings of these funds to a staggering $52.2 billion in BTC – that's a solid 4.59% of bitcoin's overall market value.

🌟 Ether ETFs also saw positive traction on Tuesday, with nine funds amassing $11.44 million in fresh investments. Fidelity's FETH led the charge here as well, capturing $7.13 million, while Blackrock's ETHA followed suit with $4.31 million. Although this is a welcome boost for ethereum, it pales in comparison to the hefty $562.06 million in net outflows witnessed since July 23.

⚡️ Currently, these nine ether ETFs hold approximately $6.53 billion worth of ETH, accounting for around 2.28% of ethereum's market capitalization. As for the trading volumes on Tuesday, bitcoin funds saw an impressive activity of $712.27 million, while ethereum-based ETFs recorded a respectable $102.87 million.

🕗 At the time of writing, bitcoin is changing hands at $56,813, while ethereum is swapping for $2,330. The crypto market continues to make waves, and investors are eagerly riding the digital currency rollercoaster.

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🔒 Lawmakers Sound Alarm on Crypto Fraud Targeting Seniors, Urge Bitcoin ATM Firms to Act

📣 Seven Senate Democrats have taken a stand against the rising tide of crypto fraud aimed at elderly Americans, calling on the top 10 bitcoin ATM operators in the U.S. to step up their game. Exploiting the anonymity of digital transactions, scammers are preying on seniors through these ATMs, and it's time for action.

👥 The letter, signed by Senators Durbin, Blumenthal, Warren, Smith, Whitehouse, Welch, and Reed, was sent to big players like Athena Bitcoin and Coinflip. It's a wake-up call: "Take immediate action," they say, as they highlight the troubling link between cryptocurrencies and criminal activity.

💰 The numbers don't lie: reported losses from BTM scams have skyrocketed from $12 million to a staggering $114 million between 2020 and 2023. And it's our elderly population that's bearing the brunt – more than three times as likely to fall victim to these schemes.

🛡 So what's next? The senators want answers by Oct. 4. They're demanding details on the measures already in place to combat fraud and ensure that these crypto ATMs aren't unwitting accomplices in financial crimes. It's time for the industry to step up and protect our seniors.