Indicator shows: Bitcoin could explode parabolically – if the past repeats itself

Bitcoin has seen mixed price action lately, with the bulls unable to take control of the trend after the price rose to $ 28,500.

The opposition here has been quite intense, and BTC has yet to show any signs of strength in the aftermath of this event

The fact that the bulls prevented a deeper setback is positive because it invalidates the possibility that this recent high was a blow-off top.

One trader now comments that there is an incredibly bullish indicator that is blinking for Bitcoin Revival.
Referencing the cryptocurrency’s monthly RSI, he writes that a monthly close above a certain level that it is approaching is historically followed by parabolic moves upwards.

In the past, these moves have had an average return of 1,010%, but their size and length seem to decrease over time.

Bitcoin and the entire crypto market have declined in the past 12 hours, which appears to be the direct result of the pressure Ripple’s XRP is putting on the market due to its recent sell-off.

How the market travels over the medium term, however, in all likelihood does not depend on XRP – and that means this latest round of selling pressure can mark a knee-jerk reaction from investors.

One analyst comments that Bitcoin’s monthly RSI is an incredibly bullish sign of where BTC is headed next.

Bitcoin is fighting for momentum after being rejected at $ 28,500

At the time of writing, Bitcoin is trading at $ 27,900. BTC has not yet received enough buy-side support to break above heavy resistance that lies in the lower $ 28,000 region.

For now, this tip could mark a blow-off top.

Indicator signals: BTC is on the verge of a parabolic rise

A trader wrote in a tweet that Bitcoin could be on the cusp of a parabolic movement in the coming days and weeks. He refers to the so-called monthly RSI of the cryptocurrency as an indicator for this.

„BTC – Monthly RSI. The monthly candle is about to close over 80. When this happens the bullish trend will continue, with an average return of 1010.87%. Every cycle is shorter. “

The coming days should shed some light on Bitcoin’s trend as continued weakness could confirm $ 28,500 as a local high and lead to a deeper setback.

IRS har officielt flyttet sit kryptoskattespørgsmål

IRS har officielt flyttet sit kryptoskattespørgsmål til toppen af ​​Form 1040, hvilket gør det meget mere fremtrædende

Sidste år oplyste Internal Revenue Service (IRS), at de ville vide, hvem der havde kryptovaluta, ved at spørge skatteyderne direkte på deres 1040A-formularer.

Nu er det gjort det formbaserede spørgsmål meget mere fremtrædende for at sikre, at alle svarer.

IRS annoncerede i dag, at de formelt har flyttet et spørgsmål – „Modtog, solgte eller på anden måde erhvervet nogen økonomisk interesse i nogen virtuel valuta i 2020?“ – til 1040-formularen. Spørgsmålet sidder øverst på formularen lige under de felter, der Bitcoin Evolution beder om identifikation. Krypto-skattefagfolk siger, at hvis det ikke var klart, at IRS betød forretning før, er det krystal nu.

1040A, hvor spørgsmålet oprindeligt var placeret, falder ikke i alles hænder

Det tegner sig for årlige selvangivelser. For 2018 og derefter skal skatteydere udfylde formular 1040. IRS har effektivt flyttet spørgsmålet, så det kræves rapportering for alle skatteydere, der bevæger sig fremad, da de fleste udfylder formular 1040.

Joey Ryan, CFO hos krypto-regnskabsfirmaet Gilded, sagde, at det viser, at IRS er oven på krypto, måske endnu mere end nogle ville forvente.

„Hvis nogle mennesker ikke var opmærksomme eller ikke så fuldt ud involveret i hvad IRS har gjort, vidste de måske ikke at se på skema 1, som er din ekstra indkomstplan, men nu sidder det bare lige på forsiden af ​​1040, så ingen slags har en chance for at gå glip af det spørgsmål eller ikke forstå, hvad der sker, ”sagde han.

Flytningen til formular 1040 vil sandsynligvis øge overholdelsesgraden og fange enhver krigsfanger, der ikke var så opmærksom på krypto-skattebyrder. Det betyder en stor indvirkning for denne skattesæson, ifølge Zenledger COO Daniel Hannum.

„For 2019 var der virkelig ikke så mange mennesker, der havde en tidsplan 1, især inden for krypto, og for dette år er det kæmpe, at det er det første spørgsmål på formularen,“ sagde han.

Selvom det fungerer som yderligere afklaring fra IRS, er der stadig nogle spørgsmål, der skal besvares, ifølge Hannum.

Nogle skatteeksperter har rejst bekymring over for skattemyndighederne over ordets formulering, da de siger, at det er uklart, om køb eller beholdning kvalificerer sig som handel i krypto. Imidlertid sagde både Hannum og Ryan, at IRS ser ud til at være forpligtet til konstant at give mere klarhed over tid.

Altseason on the way? Why Bitcoin is leaving great altcoins like Ethereum behind

Ethereum and the altcoin market are stagnant relative to Bitcoin, with the ETH/BTC pair being the key to the next altseason.

Altseason on the way? Why is Bitcoin leaving large altcoins like the Ethereum behind MARKET ANALYSIS
Ether (ETH), the native cryptomeda of blockchain Ethereum, has lagged behind Bitcoin (BTC). Historically, when BTC rises, altcoins tend to rise with higher price movements.

This time, Bitcoin has clearly outperformed the altcoin market, especially in December. BTC’s dominance of market capitalisation has recently increased to the year’s high of about 70%, largely due to the large sale of XRP last week.
BTC/USD vs. ETH/BTC (yellow), LTC/BTC (orange), XRP/BTC (blue) 1-day candle chart (Bitstamp). Source: Tradingview
The difference in price discovery of Bitcoin
The difference between the current Bitcoin price trend and previous Bitcoin Bank bullish cycles in 2018 and 2019 is that BTC has gone into price discovery.

Put simply, price discovery is when the price of an asset exceeds the previous high and continues to enter unknown territory. Altcoins usually stagnate when Bitcoin enters price discovery because BTC sucks the volume out of the altcoin market.

Also, when Bitcoin is growing rapidly, it is also subject to large short-term setbacks. The problem with altcoins is that when BTC increases, they fall behind BTC, and when BTC retreats, altcoins often see even bigger corrections.

In the foreseeable future, it is critical for the altcoin market to see Ether gain momentum against Bitcoin. This would probably kick off the next altseason if one arises in the short term.

Currently, Ether is still underperforming against Bitcoin. The ETH/BTC pair, in most time periods, including the daily chart, still shows no signs of breaking up.
Daily Chart ETH/BTC (Binance). Source:
The ideal scenario for the altcoin market is to see the ETH / BTC pair forming a fund and then go out to the altcoins to see a renewed momentum.

Cointelegraph Markets analyst Michael van de Poppe pointed out that traders are currently afraid to buy altcoins due to market dynamics. He also stressed in his latest ETH technical analysis that the ETH/BTC pair is still showing weakness.

He added that the weekly chart on the Ether shows a clear collapse below support on the BTC pair which suggests further weakness for altcoins is likely. Poppe noted that the ETH/BTC pair would have to rise above 0.026 BTC to regain the bullish momentum.

„However, as long as the ETH remains above 0.021 sats, the bullish arguments can still be made for higher, as the upward construction would still be intact,“ he explained, adding:

Ideally for ETH, a recovery from the 0.026 sats level would indicate further strength and continuation, so traders should look at that level first. If that doesn’t work, the next area to observe is the 0.021 sats zone next to the US$450 region.

When will we have an ideal scenario for the altseason?
Indeed, there is a strong argument to be made that the so-called „altseason“ might not even appear in Q1 2021.
In fact, there is a strong argument to be made that the so-called „altseason“ might not even appear in Q1 2021.

Bitcoin is now 25% above its maximum in 2017, and Ether is still 50% below his ATH in 2017.

– Ansel Lindner (@AnselLindner) 25 December 2020

Some analysts say that since Bitcoin is experiencing a recovery led by institutional investors, Bitcoin’s profits will not return to the altcoin market this time.

However, some traders expect altcoins to become more attractive with Bitcoin bullishness. A trader known as „Salsa Tekila“ said that capital could turn back to altcoins if Bitcoin continues to rise, considering that altcoins historically performed well in the first quarter after the BTC peak in December. He wrote:

„The higher the BTC $, the more attractive the altcoins become. BTC’s current market capitalization is 6.5X the ETH market capitalization. $ rotation factor is plausible, especially coming in 2021 with the popularization of the $ ETH picket. The likelihood of a peak would be to catch altcoins as they detonate during a large bitcoin end. ”

La domination du Bitcoin atteint un sommet d’un an alors que XRP fait face à un nouveau procès

Cointelegraph Markets a révélé que les graphiques de domination de Bitcoin avaient grimpé de 69%.

La domination du Bitcoin dans l’espace crypto a atteint un sommet alors que l’actif numérique principal a brièvement touché à nouveau 24000 $

Le prix du Bitcoin a atteint un nouveau sommet historique à 24000 $ le 19 décembre. Même si BTC a connu une volatilité majeure alors que son prix a chuté à 22800 $, il est toujours en hausse de 1,23% à 23633,39 $.

Dans une vidéo publiée sur Twitter, l’analyste de Cointelegraph Markets Michael van de Poppe a déclaré:

«Historiquement, nous avons créé une structure de haut niveau en décembre, après quoi nous avons eu un excellent premier trimestre pour les altcoins.»

Le tweet de Cointelegraph Markets a révélé que le graphique de domination du Bitcoin avait grimpé de 69% au milieu de la vente XRP

Alors que Bitcoin continue d’augmenter, XRP a du mal avec les autorités réglementaires. Dans un récent dépôt , la Securities and Exchange Commission (SEC) des États-Unis a accusé Ripple et deux de ses dirigeants d’avoir obtenu plus de 1,3 milliard de dollars dans une «offre de titres d’actifs numériques non enregistrée». Les deux dirigeants de Ripple mentionnés dans le dépôt de la SEC sont le PDG Brad Garlinghouse et le co-fondateur Christian Larsen. À la suite du dépôt, les analystes craignent que le procès de la SEC n’affecte le trading XRP.

Déjà, XRP enregistre des pertes. Au moment de la presse, XRP est en baisse de 31,59% à 0,321332 $.

Contrairement à Bitcoin, d’autres altcoins de premier plan enregistrent également des baisses quotidiennes. Ether (ETH) est actuellement en baisse de 2,56% à 610,71 $. En outre, Tether est en baisse de 0,06% et Bitcoin Cash (BCH) a perdu 221 $.

Ripple price rises by 25% – XRP before another breakthrough?

Whether Bitcoin (BTC), Ethereum (ETH) or Ripple (XRP): The crypto market is rushing from record high to record high. Yesterday, Thursday, the BTC price cracked the $ 22,000 mark, increasing by around 20% in one day. At the same time, Ripple attacked the USD 0.60 mark with a price growth of over 25%. Can the XRP price continue to rise and how does it look for Ripple?

Ripple (XRP) is one of the 24h winners

Anyone who has been investing in crypto currencies for a long time will have been pleased when looking at the courses in the past few days.

The following screenshot from Coinmarketcap shows a record high. Bitcoin has never been above the $ 23,000 mark. But XRP was also able to make up some room for improvement in the last 24 hours.

After the price slump that came about as a result of the Spark Token Airdrop, Ripple is one of the top winners of the past 24 hours.

The XRP price bounced off the support line of 0.45 US dollars and rushed towards the 0.60 USD.

In particular, the line’s hold at $ 0.45 was (and is) important to XRP’s near-term outlook.

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Another upward breakout possible?

In particular, those holding Ripple (XRP) are wondering if another outbreak is possible.

For this we look at the opinion of the crypto analyst MagicPoopCannon.

This expects a strong performance from XRP provided that the overall market maintains its momentum.

We can quote his opinion on Twitter as follows:

XRP is the only top 10 cryptocurrency with a negative performance in the last 7 days.

While this sounds negative at first, we saw a very healthy retrace to $ 0.558 after the strong rally to $ 0.90.

Ripple could continue to explode if the overall market continues to rise.

Now one must first of all note that the statement has a very strong “if-condition”.

MagicPoopCannon said explicitly that the prerequisite for a rising market must be given.

An increase in an asset with an increase in the overall market should be „natural“. In other words: Anyone who buys a cryptocurrency or other asset that does not rise when the overall market rises has probably made a bad choice.

Rather, the decisive question is whether a single currency like Ripple (XRP) can outperform the overall market. If this is the case, the investor has again made a good choice, because he managed to outperform the market, which is considered the benchmark.

It is therefore likely that investors can expect a further rise in Ripple’s price if the workhorse Bitcoin maintains its momentum.

Guld ser største ugentlige udstrømning nogensinde, metalpriserne spiral lavere, analytikere forventer strømme til Bitcoin

Guldinvestorer bliver ængstelige, da priserne på ædle metaller er faldet meget, da en række vaccinevirksomheder har afsløret medicin til bekæmpelse af coronavirus.

Prisen på en ounce fint guld værdiansættes til $ 1.770 pr. Enhed, efter at ædle metaller registrerede det tredje lige ugentlige tab i træk. Desuden oplevede guld i sidste uge den største ugentlige udstrømning nogensinde, da investorer synes at sælge det sikre havneaktiv i stort antal.

Selvfølgelig ser mange investorer og analytikere ædelmetalets pengestrøm gå ind i kryptokurrencyøkonomien. Desuden har det traditionelle markedssentiment forbedret sig meget, og dette har lagt store øjne på Crypto Trader og digitale aktivinvesteringer. Simon Peters, en analytiker hos Etoro siger, at „stemningen forbedres på traditionelle markeder og i verden.“

Guldpriserne (Au) pr. Ounce fortsætter med at gå ned i værdi, da prisen på ædle metaller er faldet mere end 14,5% siden historiens højeste i august sidste år. Årsagen til den lave værdi de sidste par uger kan skyldes fremskridtene fra vaccineproducenter, der hævder at have produceret medicin, der vil hjælpe med at bekæmpe Covid-19. Craig Erlam, en analytiker fra valutabørsen OANDA mener, at den seneste vaccinenyhed sandsynligvis er driveren.

”Nyhederne om vacciner har ført til en masse optimisme på markedet, og vi ser nogle udstrømninger af aktiver i sikre havne som dollar, statskasser og det samme afspejles i guldpriserne,” sagde Erlam i et interview mandag.
Guld ser største ugentlige udstrømning nogensinde, metalpriserne spiral lavere, analytikere forventer strømme til Bitcoin
Ædle metaller markeder for guld (Au) og sølv (Ag) mandag den 30. november 2020.

I mellemtiden har guld også set den største ugentlige udstrømning nogensinde, da analytikere har mistanke om, at guldinvestorer udbetaler. For eksempel delte den uafhængige finansielle forsker ved The Gold Observer, Jan Nieuwenhuijs, et diagram i sidste uge, der viser de massivt store guldudstrømninger.

Ved siden af ​​dette sagde chefanalytikeren hos Activtrades Carlo Alberto De Casa i en investors note mandag, at „den kortsigtede tendens for bullion er blevet kompromitteret af prisen, der falder gennem supportniveauet til $ 1.850.“ Activtrades chefanalytiker tilføjede yderligere:

Investorer er flyttet til andre aktiver og søger hurtigere gevinster, skønt de ikke har glemt, at centralbanker vil blive tvunget til at udskrive penge i mange år for at hjælpe økonomien med at komme sig efter Covid-19-krisen.

Guld ser største ugentlige udstrømning nogensinde, metalpriserne spiral lavere, analytikere forventer strømme til Bitcoin

„Alle øjne har været rettet mod bitcoin i den forløbne uge med debatter, der raser om, hvorvidt vi nåede en ny rekordhøj eller ej,“ tilføjede Peters. Etoro-analytikeren fortsatte:

Efter blæren i de sidste otte uger var der sandsynligvis en priskorrektion, og faldet i denne uge er mere end tilfældigt. Da bitcoin endelig nåede et treårigt højdepunkt tirsdag – kun få dage før Thanksgiving og den kæmpestore salg af Black Friday ser det ud til, at mange investorer, der har haft siden december 2017, har valgt at tage deres overskud.

Desuden fortalte makrostrateg Raoul Pal sine 282.000 Twitter-tilhængere, at han planlagde at sælge alle sine guldreserver til kryptovalutaer. „Jeg har en salgsordre i morgen for at sælge alt mit guld og skalere det for at købe BTC og ETH (80/20),“ tweetede makrostrategen. Jeg ejer ikke andet (undtagen nogle obligationsopkald og nogle $). 98% af min likvide nettoværdi, ”tilføjede Pal.

Medstifteren af ​​Three Arrows Capital, Kyle Davies, diskuterede også penge fra guld, der strømmer ind i kryptoøkonomien i denne uge.

”Ingen går guld -> $ BTC -> alts I år har der været store høje nettoværdistrømme fra USD eller guld til BTC. Dette er ikke detailhandel. Disse fyre går ikke i krusninger, ”tweeterede Davies søndag.

Bitcoin soon available to customers of a $ 35 billion giant & how institutional investors fuel the Bitcoin course

Mariner Wealth Advisors, a registered investment advisor (RIA) with advisory assets of more than $ 35 billion, is partnering with Eaglebrook Advisors to provide clients with access to Bitcoin (BTC) .

Cryptographic investment firm Eaglebrook says Mariner Wealth is tapping its BTC Separately Managed Account (SMA) to enable financial advisors to allocate Bitcoin on behalf of clients looking to incorporate the leading cryptocurrency into their investment strategies. Christopher King, CEO of Eaglebrook Advisors, said :

Our investment solution, tailored to the specific needs of firms like Mariner Wealth Advisors, makes it easy for their advisors to assign Bitcoin. We expect the adoption of cryptocurrencies to continue and the market to mature, which will generate even greater demand.

Bitcoin pulls well-known investors and funds under its spell

Investment firm interest in Bitcoin is growing at a rapid pace. The just as rapidly increasing Bitcoin price is undoubtedly particularly helpful . More and more investment giants are also committed to BTC. For example, top-class investors such as the legendary hedge fund manager Stanley Druckermiller and veteran investor Bill Miller have revealed that they are on board with Bitcoin.

SkyBridge Capital, which manages $ 7.7 billion in assets, recently revealed in a recent SEC filing that it may also invest in mutual funds that provide access to digital assets. Among other things, the application states:

Mutual funds can invest in digital assets (including lesser-known or newer digital assets known as „altcoins“) with no limitation on market capitalization or technological features or attributes and can invest in initial coin offerings that have suffered fraud in the past.

Institutional investors help drive the Bitcoin price rally

Many believe that institutions will be a driving force in the Bitcoin course bullrun to a new 2020 high.

The Digital Asset Management Review found that the total volume of Exchange Traded Products (ETP) increased 53% in the past 30 days. The average daily volume is now $ 173.5 million compared to $ 113 million in October.

ETPs are types of securities that track underlying securities, indices or financial instruments, in this case Bitcoin (BTC).

The report cited Grayscale’s Bitcoin Trust product as one of the main drivers of dynamism, given that it had more than $ 9 billion in assets under management.

Op handen zijnde Ethereum-upgrade kan volgens analisten bij Binance een belangrijke katalysator zijn voor ETH- en Altcoin-markten

De wereldwijde crypto-uitwisseling Binance heeft zojuist zijn nieuwste handelsrapport uitgebracht, waarin de toestand van Bitcoin, Ethereum en de altcoin-markten wordt geanalyseerd.

Het rapport belicht de dominantie van Bitcoin in oktober en begin november, die de (gedecentraliseerde financiële) DeFi-bubbel deed barsten en de prijs van veel crypto-activa omlaag duwde

“Large-cap cryptocurrencies zoals ETH, XRP, BCH, LTC en LINK leverden in oktober bescheiden winsten op, maar slaagden er niet in om nieuwe hoogtepunten te breken toen de handelsactiviteit verschoof naar Bitcoin Billionaire. Altcoins zijn al maanden de belangrijkste drijfveer voor rendement voor cryptohandelaren.

Het is dus geen verrassing dat altcoins stoom lijken te verliezen en niet geharmoniseerd zijn door Bitcoin’s rally … Sinds de correctie begin september hebben de meeste DeFi-tokens een volledige ommekeer laten zien, waarbij 70-90% van hun winst is gewist. “

Analisten bij Binance verwachten nu dat Bitcoin een afkoelperiode zal ingaan na een plotselinge uitbarsting naar $ 16.000

Ze verwijzen naar het recente consolidatiebereik van BTC in de regio van $ 10.000 tot $ 12.000 als een voorbeeld van wat de volgende stap kan zijn voor de leidende cryptocurrency.

Wat betreft de toekomst van de altcoin-markt, wijst de uitwisseling op de komende lancering van Ethereum 2.0 als een potentiële katalysator voor zowel ETH als de altcoin-markt in het algemeen.

“De upgrade zal naar verwachting een positieve impact hebben op ETH, aangezien het de compatibiliteit, schaalbaarheid en beveiliging van het netwerk aanzienlijk zal verbeteren.

Bovendien zal de upgrade het consensusmechanisme van Ethereum verschuiven naar een Proof-Of-Stake, waardoor investeerders worden gestimuleerd om hun Ether te behouden en vast te zetten voor het inzetten van beloningen. Dit zal dan het aanbod van ETH-tokens verminderen, terwijl de vraag sterk blijft groeien, aangezien grote investeerders overstromen op zoek naar gestage winsten …

Gezien deze katalysatoren zou de upgrade ETH uit zijn recente inzinking kunnen halen en mogelijk een positiever sentiment in de altcoin-sector kunnen injecteren. „

Coinbase for å introdusere øyeblikkelige muligheter for tilbaketrekning av Fiat


  • Coinbase har inngått et samarbeid med Visa og Mastercard for å innføre et øyeblikkelig tilbaketrekningsanlegg for krypto til fiat.
  • Nyheten er sannsynligvis velkommen av kryptosamfunnet, men bærer også noen tunge avgifter.
  • Firmaet fortsetter å prøve å berge sitt rykte etter en kontroversiell selskapspolitikk som ble lansert tidligere i uken.

Den kontroversielle kryptobørsgiganten Coinbase gjør noen endringer etter at den kunngjorde at den vil legge til rette for øyeblikkelige fiat-uttak fra fre 2. oktober.

Funksjonen er et samarbeid med store kredittkortpartnere i nesten 40 land, inkludert USA og Storbritannia. Kunder her og over hele Europa vil kunne bruke et Visa-koblet debetkort for krypto-fiat-konverteringer, mens amerikanske brukere også vil ha et Mastercard-alternativ.

Archaic Banking System spiller Catchup

I flere tiår har overføring av penger internasjonalt, og til og med lokalt, vært kjent for å ta flere dager. Fremkomsten av blockchain har redusert disse tidene dramatisk, og sannsynligvis vært en drivkraft for forankrede spillere til å tilby raskere løsninger.

For Coinbase-kunder vil øyeblikkelige uttak nå bli innkvartert på toppen av standard uttaksmetoder. Terry Angelos, global leder for fintech hos Visa kommenterte partnerskapet,

Ved å muliggjøre kortuttak i sanntid gjennom Visa Direct-funksjonen, gir Coinbase en raskere, enklere og mer tilkoblet opplevelse for brukerne – noe som gjør det lettere å konvertere kryptosaldoer til fiat, som kan brukes på de mer enn 60 millioner handelsstedene der Visa aksepteres,

Sherri Haymond, konserndirektør for digitale partnerskap ved Mastercard, ga også uttrykk for denne følelsen,

Dagens forbrukere er digitalt drevne – søker etter betalingsalternativer i sanntid som imøtekommer deres individuelle behov

Det skal bemerkes at dette privilegiet fremdeles kommer til en noe heftig avgift på 1,5% (minimum $ 0,55) for amerikanske kunder, mens britiske og EU-kunder må betale ut 2%.

Ingen hvile for Coinbase

Flyttet er gode nyheter for et selskap som ser ut til å ikke ha noen mellomting i den nye kryptoøkonomien.

Tirsdag 29. september kunngjorde Coinbase en kontroversiell ny selskapets første policy som er rettet mot å sensurere politiske diskusjoner på jobben. Avgjørelsen passet ikke bra for mange på sosiale medier.

Øyeblikkelige uttak er en etterspurt funksjon av kryptosamfunnet, spesielt i lys av en økning i kryptoutvekslingsnedbrudd i nyere tid.

Etter anklagene fra CFTC på den rivaliserende kryptobørs BitMEX Thur 1. oktober, har et rekordmengde bitcoin blitt trukket tilbake til konkurrentene i løpet av det påfølgende døgnet.

Coinbase har sett sin god andel av den stashen. Hvorvidt disse kundene velger å flytte kryptoen tilbake til fiat, er imidlertid en annen sak helt.

Bitcoin Madness Doesn’t Wane – September, a Record Month for BTC on Ethereum

A month in full swing – September was the month of all records for tokenized assets on Ethereum. Indeed, BitGo allowed BTCs stored on Ethereum to exceed $ 1 billion by tokenizing $ 616 million worth of BTC during this period.

BTC en masse on Ethereum

We were talking to you about it in mid-September. The amount of tokenized bitcoins on Ethereum has passed the symbolic billion dollar mark . Now, more than 127,400 BTC are tokenized on Ethereum , for an estimated amount of $ 1.371 billion .

Among available assets, WBTC accounts for 73% of all tokenized versions of bitcoin, with 93,283 WBTC created. As a result, WBTC is the first tokenized BTC asset to exceed $ 1 billion in value, with $ 1.003 billion at the time of writing.

September: a crazy month for the WBTC

September has been a particularly good month for BitGo, the WBTC issuing company.

In fact, within a month, the company issued the equivalent of $ 616 million in WBTC , according to data compiled by CoinDesk . This represents an increase of 164% compared to August.

According to Getty Hill, trader at Grapefruit Trading, an OTC ( over the counter ) trading platform , this development reflects the desire of their clients to capitalize on the growth of the DeFi ecosystem.

For once, it is Alameda Research which is the main creator of WBTC, due to the request of its sister company, FTX. In August, it mined $ 160 million from WBTC, a figure that nearly doubled in September to $ 306 million .

Comparison of WBTC Purchases in August and September, by Major Companies – Source: CoinDesk
In addition, this increase can be explained by the arrival of new players in the creation of WBTC, such as Three Arrows Capital and Grapefruit Trading who, between them, created almost 100 million dollars in WBTC.