Author: Crypto News Live

OpenSea, the top NFT marketplace, saw a big drop in trading volume for Ethereum NFTs, hitting its lowest level since May 2021 Trading activity for Ethereum-based NFTs plummeted by 99.1% from its peak in May 2022. OpenSea, the leading NFT marketplace, has experienced a significant downturn, in trading volume for Ethereum-based NFTs. Recent data reveals that the platform has an average daily volume of approximately 600 ETH, marking its lowest point since May 2021, predating the onset of the original NFT bull market. OpenSea is doing around 600 ETH of volume per day right now in ETH NFTs, the lowest…

TL;DRFull StoryIf you lost money in FTX, we have some good news, and some bad news.The good news is:The estate claims that 98% of creditors should receive at least 118% of allowed claims in cash within 60 days of their payout plan coming into effect.Translation: you should be getting your money back, plus a little extra on top.In fact, the FTX estate currently estimates that once all of the property that has been collected has been converted to cash — the amount available for distribution will be between $14.5B and $16.3B.(For context — when FTX went kaput, the firm lost…

ETH traded at $3k at press time. The cumulative short liquidation of Ethereum rose to over $800 million. After experiencing a price decline on the 7th of May, Ethereum [ETH] saw more liquidations in long positions. Consequently, more traders opted for short positions. As a result of this increased shorting activity, the price of Ethereum declined further, falling below the $3,000 price range during the trading session on the 8th of May. Ethereum traders bet on price decline AMBCrypto’s analysis of Ethereum’s exchange liquidation map on Coinglass indicated a dominance of short positions at the time of writing. The cumulative…

In the limelight, GaFin is thrilled to announce its partnership with Monkey Empire. It is a groundbreaking MMO Strategy video game operating on Arbitrum. This collaboration demonstrates a dedication to innovation, creativity, and teamwork. Additionally, it has a goal of delivering exceptional gaming experiences to players worldwide. By joining hands, they aim to open new possibilities through game integration and engaging community activities. GaFin 🤝 @monkeyempiree 🚀 We’re pleased to announce our partnership with @monkeyempiree – an MMO Strategy video game built on @arbitrum, empowering users to strengthen their monkeys to build an Empire ✨💥 Our partnership is a commitment…

Movement and accumulation from crypto whales are two of the catalysts for Bitcoin price increases. Although major whales are still buying the dip, on-chain data indicates a general waning accumulation momentum which suggests their conviction might actually be waning.  According to IntoTheBlock, an on-chain analytics firm, Bitcoin whale accumulation volumes have declined substantially in each buying cycle over the past month. This decline in whale accumulation could be worrying for investors, especially as the price of Bitcoin is now trying to hold above $60,000. Whale Appetite For Bitcoin Dips According To On-Chain Data Whales, or large investors holding over 1,000…

Ethereum Name Service (ENS) has petitioned the United States Patent and Trademark Office (USPTO) to challenge the validity of a patent obtained by Unstoppable Domains (UD) in 2023. ENS claims that UD’s patent utilizes technology that ENS had developed and open-sourced. In a statement on social media platform X, ENS explained that UD obtained a patent for technology that ENS Labs developed with the intent of being open-source. ENS Update 🧵: In 2023 Unstoppable Domains (UD) obtained a patent for technology ENS Labs developed as open-source. Today, we petitioned USPTO to challenge the validity of that patent, and to ensure…

CryptoPunks topped the daily sales chart with US$1.7 million, up from US$130,640 from the day prior. Ethereum-based CryptoPunks was one of two non-fungible token (NFT) collections with more than US$1 million in sales on Tuesday, from just 14 transactions, according to CryptoSlam data. CryptoPunks’ all-time sales volume rose to US$2.82 billion, third in the all-time NFT sales. The second-highest performer of the day was another Ethereum collection, Bored Ape Yacht Club (BAYC), which recorded US$1.05 million in sales. BAYC previous day’s US$350,481, with unique buyers growing to 17 and sellers to 27, culminating in 19 total transactions. BAYC’s all-time sales…

Web3 social platform UXLINK has recently made waves with its airdrop, dubbed the “Social Monster”. The platform has unveiled its “IN UXLINK WE TRUST” series of NFTs. It aims to reward users for their community involvement and on-chain activities with various rights and airdropped $UXLINK tokens.Holder Benefits: What NFT Holders Can ExpectThe platform categorizes NFTs into four tiers: “MOON,” “TRUST,” “FRENS,” and “LINK.” Each tier offers specific rights and benefits, including a specific number of $UXLINK tokens that users will receive. How many tokens a user gets depends on their community involvement, on-chain interactions, and the assets they hold.Holders of…

Bitcoin’s price fell as the rate of accumulation across all cohorts slowed down. Addresses were largely unprofitable and had low incentives to sell their holdings. Bitcoin [BTC] fell towards the $61,000 mark at press time, causing a surge in skepticism amongst holders and traders alike. Accumulation on a hold One of the reasons for the same would be the declining accumulation for BTC observed across the board. This trend began in May, which coincided with a local price bottom for Bitcoin. Over the past 30 days, all cohorts combined have added roughly 10,000 Bitcoin to their holdings. This paled in…

An Ethereum whale was recently revealed to have made $16 million from a single trade involving the second-largest crypto token by market cap. This whale’s story again highlights how conviction in an investment can be very rewarding in the crypto space.  How This Ethereum Whale Made $16 Million In A Single Trade On-chain analytics platform Lookonchain revealed in an X (formerly Twitter) post that the whale withdrew 12,906 ETH ($24.39 million) from Binance when the crypto token was still trading at $1,890 a year ago. With Ethereum currently trading at around $3,100, the whale’s ETH investment is now worth over…