The updated FTX asset report that scares the altcoins / crypto community... A $3.4bn selling tsunami?
Source: Crypto Rower
Cryptocurrencies were again under pressure today with bitcoin testing $25k
There are fears that altcoins face significant downside as FTX potentially seeks to dump its $3.4BN digital asset holdings. This is happening as BTC is close to a 'death cross' - 50DMA dropping below 200DMA... Source: Bloomberg, www.zerohege.com
$3.4bn of altcoins could be starting to see some selling pressure
In an April filing, FTX said it held $3.4bn in crypto assets. In last week’s filing, FTX indicated its willingness to sell $200m of crypto assets per week as the company wants to return fiat instead of crypto to its users. This means FTX will continue to sell assets until the end of 2023. FTX holds and will potentially start selling: SOL $685m FTT $529m BTC $268m ETH $90m APT $67m DODGE $42m MATIC $39m BIT $35m TON $31m XRP $29m Source: Markus Thielen
The Bitcoin Supply Formula
Source: documenting bitcoin
ARK just filed for a Spot Ether ETF, the first one.. it is highly likely that more filing will soon come
Source: Eric Balchunas
The secret wallet that bought $3,000,000,000 worth of Bitcoin in the last 3 months belongs to Robinhood
While the market panicked, they bought. Source: Crypto Rover
Solo miner bags entire block reward with just 1PH of power
An astoundingly lucky solo miner solved block number 803,821 late Friday night and won the entire 6.25 bitcoin block reward, worth approximately $162,000.
Con Kolivas, the admin of Solo CKPool, announced the unlikely news on X, formerly Twitter, saying that this particular miner had only 1 petahash of computing power, yet still came out on top. “A miner of this size would only solve a block solo on average once every 7 years at current [difficulty],” Kolivas wrote. The miner kept nearly all the bitcoin (BTC) he won, aside from a 2% fee that went to Solo CKPool for its upkeep.
Source: Blockworks
Here's a chart comparing bitcoin liquidations on Thursday versus the FTX collapse in November 2022.
This feels like yet another sign of the drying #liquidity markets we have seen over the last few weeks. Source: The Kobeissi Letter
