Here are the top 5 crypto news for the day!
Let's dive into the news headlines one by one and see how they'll be affecting the crypto space as we know it, in the coming days.
The Twitter handle of Santiment reads announcement of a new all-time high of Ethereum whale wallets that soared this weekend. It reads that 80.34 million ETH are in the wallets, with each wallet carrying on an average of 10,000 ETH.
The present trading value of the ETH is $2,513. The recent historic peak of the second-largest cryptocurrency is noted a few days back where the digital currency was noted to have a $2,575 price.
According to data, ETH wallets have been actively transacting, making new records of 701,974 transactions. The previous peak was calculated to be a total of 518,270 mid of this month.
The native token of Polygon Network – MATIC, seems to gain a wide-ranging rally in the crypto market. On Monday, a rise by 40% is there in the past 24 hours, making it rise above $0.50 after approximately seven weeks.
The rise can be observed as a consequence of investor’s interest in layer 2 scaling solutions amid continued stress on Ethereum’s network. From the statistics, Polygon has made a 10x rise in the total number of transactions performed on the platform.
Alex Svanevik, CEO of blockchain data company Nansen says, “Polygon has seen 10x rise in the number of transactions since the start of the year,” Svanevik said. “That’s a significant increase."
Bitmain, an Application-Specific Integrated Circuit or ASIC manufacturer made a teaser video available which is about a new ether mining.
Speaking about the device then it is not yet available for sale. The speculative prices of the machine estimate up to $30k. Also, the E9 prices have not been mentioned in the announcement.
The Saturday tweet by Bitmain also includes a link to the Youtube video that mentions a visual perspective of the new machine. As of now, Bitmain’s website does not show any detail of the new Antminer E9 specs at all.
Electric carmaker Tesla Inc has reportedly trimmed its position by 10% in the first quarter. Beating the Wall Street expectations for the first-quarter revenue, Tesla has now leaped in the environmental credit sales which soared steadily.
Chief Financial Officer Zachary Kirkhorn said, “Tesla had invested $1.5 billion in bitcoin, trimmed its position by 10% during the quarter.” while according to Tesla, the proceedings from sales of digital assets calculates to $272 million with a $101 million “positive impact”.
"We do believe long term in the value of bitcoin,” “It is our intent to hold what we have long term and continue to accumulate bitcoin from transactions from our customers as they purchase vehicles.”
JPMorgan analysts say Liquidity in the Bitcoin market should recovery following the leading cryptocurrency’s recent price crash. The flagship cryptocurrency’s recent price crash was worsened by the liquidation of futures contracts.
Earlier this week, Bitcoin had a 15% selloff as leveraged long positions were quickly liquidated.
Since then the Bitcoin market appears to have stabilized, adding “the worst of liquidations are behind us.”
“Going forward, bitcoin liquidity should remain robust and resilient; depth on major exchanges has continued to drop less and recover faster than other asset classes. Though it will take a few days to play out, history suggests liquidity should recover quickly,” says JPMorgan.
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