Vitalik Buterin Cashed Out Large Sums of ETH During 2017 Crypto Frenzy
Ethereum mastermind Vitalik Buterin, who holds 350,000 ETH in his main wallet address, allegedly cashed out $40 million worth of ETH between June 2017 and February 2018. The findings came to light by Alex Sunnarborg, a founding partner of the crypto hedge fund Tetra Capital, who dug into Vitalik’s historical account data. Source: CCN.com
Two Exchanges Overtake Binance on CMC Rankings, But Research Suggests Volume Is Fake
Today, on March 21, both LBank and Bit-Z overtook leading exchange Binance on the adjusted trade volume cryptocurrency exchange rankings on CoinMarketCap, but research published on March 18 by the Tie suggests most of their volume is fake.
At press time, LBank is in the third spot (formerly in first), Binance is in the second spot, and Bit-Z is currently holding the top spot. According to data contained in the Tie research, Bit-Z’s expected 30-day volume is only 0.79 percent of its reported 30-day volume. Source: Cointelegraph
Twitter/Square CEO Jack Dorsey is Hiring Crypto Engineers – to Serve Him or the Bitcoin Ecosystem?
Square’s CEO Jack Dorsey has announced that the payments startup’s ‘small way to give back’ to the cryptocurrency ecosystem is to hire up to four full-time crypto engineers and one designer.
In his announcement, Dorsey stated that the crypto engineers and the designer will be reporting directly to him. This raises the question of whose interests the bitcoin developers will be serving – Square’s or the bitcoin community’s? And there are various other concerns that are bound to arise. Source: CCN.com
Bitmain Set to Deploy $80 Million Worth of Bitcoin Miners, Sources Say
Bitmain, the largest manufacturer of cryptocurrency mining equipment by market share, is scaling up its capacity to mine ahead of an expected drop in electricity costs in China this summer.
According to mining farm operators in China’s southwestern provinces familiar with Bitmain’s plan, the Beijing-based company will be deploying about 200,000 units of its own mining equipment in the area to take advantage of the low electricity costs during the summer resulting from excess hydropower. Source: Coindesk
Report Claims Bitcoin and Altcoin Correlation Slowly Fading, Could This be a Sign of a Maturing Market?
The volatile price action in the crypto markets over the past year and a half has proved to investors that despite each major altcoin having (mostly) unique features and use-cases, their prices are still extremely influenced by the overall market price action, and especially that of Bitcoin.
Now, a recent research report conducted and published by cryptocurrency exchange Binance gives a significant amount of insight into how correlated various cryptocurrencies are with Bitcoin, other altcoins, and the US Dollar, and highlights an interesting trend developing in the first few months of 2019 and over the past year. Source: NewsBTC.com