Category Archives: Bitcoin

What happened: A Bitcoin BTC/USD whale just sent $67,531,277 worth of Bitcoin off Coinbase.

The BTC address associated with this transaction has been identified as: 18KJjv7Htnf1Bn93kZUg9i3Govbt7iPyQp.

Why it matters: Bitcoin "Whales" (investors who own $10 million or more in BTC) typically send cryptocurrency from exchanges when planning to hold their investments for an extended period of time. Storing large amounts of money on an exchange presents an additional risk of theft, as exchange wallets are the most sought-after target for cryptocurrency hackers.

The best way to secure Bitcoin is through holding it on a hardware wallet, which can't be done through holding digital assets on an exchange. Hardware wallets store one's private keys in an offline device, making it impossible for funds to be hacked via the internet.

According to Glassnode, only 12.48% of the total supply remains liquid across all centralized exchanges.

The removal of BTC from an exchange reduces potential sell side pressure, allowing the price of Bitcoin to increase more easily.

See Also: Best Crypto Apps 2021 and Best Crypto Portfolio Trackers

Price Action: Bitcoin is up 4% in the past 24 hours.

See Also: How To Buy Bitcoin

Public Blockchain data sourced from Whale Alerts Twitter.

This article was generated by Benzinga's automated content engine and reviewed by an editor.

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Anonymous Bitcoin Whale Just Moved $67M Worth Of BTC Off Coinbase - Benzinga

Fidelitys director of Global Macro has shared his bitcoin and ether price outlook. His analysis shows that bitcoin is cheap but ether could be even cheaper. Ethereum could be close to a bottom, he added.

Jurrien Timmer, director of Global Macro in Fidelity Investments global asset allocation division, shared his bitcoin and ether price analysis in a series of tweets Friday. Timmer specializes in global macro strategy and active asset allocation. He joined Fidelity 27 years ago as a technical research analyst.

He explained why bitcoin is cheap. I use the price per millions of non-zero addresses as an estimate for bitcoins valuation, and the chart below shows that valuation is all the way back to 2013 levels, even though price is only back to 2020 levels, he detailed, emphasizing:

In other words, bitcoin is cheap.

At its recent low of $17,600, bitcoin is now below even my more conservative S-curve model, which is based on the internet adoption curve, the Fidelity director added.

Timmer noted that it is clear from looking at Bitcoins network growth that the adoption curve is tracking the more asymptotic internet adoption curve, rather than the more exponential mobile phone curve. He continued: Per Metcalfes Law, slower network growth suggests a more modest price appreciation.

However, based on a simple power regression line, Bitcoins network appears to be intact, the director opined. That continued growth in Bitcoins network, combined with lower prices, means that bitcoins valuation is coming down.

The Fidelity director of Global Macro proceeded to share his ether price outlook, tweeting:

If bitcoin is cheap, then perhaps ethereum is cheaper. If ETH is where BTC was four years ago, then the analog below suggests that ethereum could be close to a bottom.

At the time of writing, bitcoin is trading at $21,584, up 11% over the past seven days but down 29% over the past 30 days. Ether is trading at $1,217, up 14% over the last seven days but down 32% over the past 30 days.

What do you think about the Fidelity directors analysis of bitcoin and ether prices? Let us know in the comments section below.

A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Fidelity Analyst: Bitcoin Is Cheap Ethereum Could Be Near Bottom Markets and Prices Bitcoin News - Bitcoin News

A crypto trader said he traded in his $8,200 Rolex watch to buy cryptocurrency and is now worth a little more than $1.18 million - but admits the crashing market has halved his wealth.

Kain Roomes, 29, first invested in Bitcoin in March 2018 after his dad encouraged him to look into crypto.

Roomes, then a part-time model, was behind on his mortgage, had considerable debts and no disposable income, he said.

He decided to sell his $8,200 Rolex he'd received as a 22nd birthday present years earlier to fund his first investment.

Roomes bought different cryptocurrencies and studied the market, learning about the best times and places to invest, he said.

And, in 18 months, Kain had made over $100,000 just through investing alone, he said.

After gradually building his investments, his portfolio reached its highest value ever of over $3.3 million in May 2021.

A huge crash in the market in March 2022 cut his wealth by over half, but it now still stands at $1,265,366.10.

He's also traveled the world, vacationing in luxury locations like Dubai, the Maldives and Jamaica.

Roomes, who comes from north London, England, said: "With my dad's help, I did my research and made sure I was investing into a good coin.

"This led me to put 50,000 out of my first 100,000 into an Initial Coin Offering (ICO) and reinvest the profits in Zilliqa - a booming cryptocurrency.

"It was nerve-racking making such a big gamble but I managed to expand my portfolio twenty-fold from one investment.

"I suffered a lot after the crash, but I have full faith in crypto.

"I've experienced highs and lows while I've been trading and there has been times where I thought I wasn't going to recover.

"At one point I opened my trading account and 90 percent of my portfolio had gone.

"My dad has always been there for me when I was going through tough times with it - he's been a mentor throughout my whole experience with crypto.

"Cryptocurrency is an extremely risky game, but if you take the right precautions you can prosper.

"I want to inspire others to get into crypto and change their lives the way I changed mine."

Now Roomes is focusing his efforts on writing his first book, detailing some of his struggles and giving advice to those looking at getting into crypto.

He said he wants to give hope to other people and be successful in the crypto market.

"I want to stay involved in crypto and earn as much as I can from it," he said.

"Since that original investment I have only ever reinvested profits to get where I am today.

"I've seen so much success from it so why would I simply walk away now.

"I'm prudent with my spending - I don't own a car or fancy clothes.

"I've taken profits to enjoy nice holidays with my family but that's the extent of it - just because I'm a millionaire I don't want to waste what I've earned.

"Since the March crash there has been other instances where I've suffered some considerable losses.

"But I'm confident the market will bounce back - like it always does."

Produced in association with SWNS.

This story was provided to Newsweek by Zenger News.

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Bitcoin Trader Harvested $3M Bounty That's Now Cut in Half - Newsweek

A natural gas company in Clearfield County that had been "mining" for Bitcoin at several sites has stopped doing so for now, but operations at the site had already led to an information request from the U.S. Environmental Protection Agency.

Matt Anderson, owner of Big Dog Energy, said in an email that his company began crypto-mining in October 2021 on one site. That grew to three sites.

In January, the Pennsylvania Department of Environmental Protection sent Big Dog Energy a notice of violation. A DEP site inspection found Big Dog had installed 30 natural gas powered generators and a gas-producing unit at a site without authorization from the department.

According to a DEP spokesman, the U.S. Environmental Protection Agency is taking the lead on assessing the situation. The EPA issued a Clean Air Act Section 114 information request to Big Dog on June 1. A spokesman did not provide details on what type of information was requested.

Anderson said he stopped the crypto-mining operations in June. But, he said in an email, that was just a business decision, not EPA or DEP related.

I can restart them anytime Id like," he said.

The price of Bitcoin has plunged, after peaking in November 2021.

Along with natural gas sites, at least two Bitcoin mining sites in Pennsylvania use waste coal facilities. The natural gas or waste coal is used to power generators, which in turn power the application-specific integrated circuits or supercomputers that are used to "mine" for Bitcoin.

Rob Altenburg, senior director for energy and climate with PennFuture, an environmental advocacy organization, said in these situations mining for Bitcoin is a new operation and should be treated that way.

Those wells are permitted as natural gas extraction operations," he said. "Once you start mining Bitcoin, that isnt a natural gas extraction process. So, in my reading, their existing permits would not apply to that.

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The EPA asks a Bitcoin 'mining' operation in Clearfield County for information - WPSU

Shark Tank star Kevin OLeary, aka Mr. Wonderful, has warned of an impending big panic event in the crypto space. I dont believe weve seen the bottom yet and I have a different view of it, he said.

Shark Tank star Kevin OLeary shared his crypto outlook in an interview on Youtube channel Meet Kevin last week.

He was asked how far the price of bitcoin could fall and whether BTC could drop to $13K as some people have predicted. Its impossible to know where the bottom is, OLeary replied, adding:

I dont believe weve seen the bottom yet and I have a different view of it.

Referencing his past experience, the Shark Tank star said: I go back again to other asset classes that I have invested in for decades. In every case traditional bonds, traditional equities, real estate, alternative asset classes bottoms are reached with an event, a panic event as I call it, and you can find it in every asset class.

OLeary noted:

We havent seen that yet in crypto land. Theres no big guy thats gone to zero yet and I think thats still to come.

He added that it is difficult to predict who will fail next because its going to be because of leverage and some kind of relationship in a counterparty holding that they have not disclosed.

He said Voyager, the crypto lender that filed for Chapter 11 bankruptcy last week, is too small to matter. The rest of these guys were kind of irrelevant in terms of total market cap, he opined.

The Shark Tank star pointed out that the crypto market, including bitcoin, has almost been cut in half in total market cap, so you would think we are on our way to the bottom.

However, he stressed: I like a big, big panic event. Thats always been a great way to bottom Its towel throwing, its capitulation, its massive volume, its total panic in the streets and always a great buying opportunity. He elaborated:

I have no idea who is next. [It] could be tomorrow morning, could be a month from now, but its coming to a theater near you.

Mr. Wonderful concluded: It will definitely be a very good thing for this industry. Itll be a great thing because itll take out all of the bad, broken business models, the heavy leverage, the speculation that was too risky.

The Shark Tank star has predicted that trillions of dollars will flood into crypto from institutional investors once the regulators adopt a crypto policy. He believes that crypto will become the 12th sector of the S&P. In June, OLeary revealed he is holding 32 positions in the digital asset space and is not selling any despite the crypto market sell-off. Im not selling anything Long term, you just have to stomach it. You have to understand youll get volatility, and that some projects arent going to work, he emphasized.

What do you think about Kevin OLearys predictions? Let us know in the comments section below.

A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Kevin O'Leary Warns Major Crypto Panic Event Is Coming 'I Don't Believe We've Seen the Bottom Yet' Markets and Prices Bitcoin News - Bitcoin News

Bitcoin has plunged in value this year, weakening the argument often made by crypto enthusiasts that it can be an effective hedge against inflation during times of economic turmoil.

Bitcoin advocates have long argued that its scarcity would protect its value during times of rising inflation. Unlike central banks which can increase the supply of money there are a fixed number of coins, which keeps them scarce.

Even before the market crashed, there was debate about whether or not bitcoin would hold its value. Billionaire investor Paul Tudor Jones was bullish on bitcoin as an inflation hedge, while Dallas Mavericks owner and investor Mark Cuban dismissed the idea as a "marketing slogan."

Another argument is that bitcoin, along with other similar cryptocurrencies, will have an intrinsic store of value over time as it becomes more accepted, like gold. Supporters believe it will be seen as an asset that won't depreciate over time.

However, this has not been proven to be true, at least not yet. The value of the cryptocurrency market overall has plummeted alongside rising inflation, with bitcoin losing half of its value since January. As of Friday, the price of bitcoin is $21,833, according to Coin Metrics.

With crypto, "the extent of [price] volatility is so significant, it's very hard for me to view it as a long-term store of value," Anjali Jariwala, certified financial planner and founder of Fit Advisors, tells CNBC Make It.

Jariwala says that crypto in general is a new type of asset that doesn't yet function either as a sought-after commodity like gold, or even as a currency, "because it's not easily exchanged for a good or service." Despite its scarcity, the price of a cryptocurrency like bitcoin is still based largely on consumer sentiment, she says.

"It's tricky because it's supposed to act like a currency, it's taxed like property and some people compare it to a commodity. At the end of the day, it really is its own asset class that doesn't have a pure definition."

Another consideration is that cryptocurrencies like bitcoin have only been around for just over a decade. Because of this, "there isn't enough history there in terms of historical data to really understand what purpose it serves as an investment," Jariwala says.

While cryptocurrencies like bitcoin are "not proven" to be a reliable, long-term store of value, they could still gain acceptance over time and become less volatile, Omid Malekan, an adjunct professor at Columbia Business School specializing in crypto and blockchain technology, tells CNBC Make It.

"Once volatility smooths out, we will have a better picture of how it responds to macro developments, like the rate of inflation or what the Fed is doing," he says, cautioning that current crypto prices could reflect all sorts of inputs aside from inflation, like too many overleveraged cryptocurrency lenders or a lack of regulation.

Either way, crypto as a whole remains a highly speculative investment. Jariwala recommends only investing with money you're prepared to lose. She also says to think of crypto investing as a long-term strategy and "stick to that strategy even during times like this."

Cryptocurrency might evolve into a more mature asset that can be a hedge against inflation. But "we just don't know yet, until we see more of a track history with it," says Jariwala.

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Bitcoin was supposed to hedge against inflationhere's why it hasn't worked that way - CNBC

What happened

Cryptocurrencies were having a rough day on Sunday after a healthy recovery last week. But in cryptocurrencies, we have seen recently that momentum doesn't last for long.

As of 4:00 p.m. ET, Bitcoin (BTC -4.71%) is down 3.5% in the last 24 hours, Ethereum (ETH -4.19%) has fallen 4%, and Dogecoin (DOGE -5.33%) is off 3.8%. But over the last week, the same cryptocurrencies are up by 7.4%, 8.7%, and flat, respectively.

More pain is being reported in the crypto lending space as exchange Blockchain.com reportedly faces a $270 million loss on loans to Three Arrows Capital. The collateral damage and web of loans in the crypto space have come to light after Three Arrows Capital filed for bankruptcy in the U.S. and has begun being liquidated.

The good news is that Celsius continues to unwind its complex positions. Over the weekend, it reportedly paid back $258 million to Aave and Compound in order to free up $950 million in collateral. If Celsius can unwind its positions and capture collateral, we may see it being able to pay back customer funds when they want to withdraw. The problem is that getting collateral back may also mean selling crypto assets, dumping more on the market at a time when buyers are scarce.

Bitcoin may also be coming off a high after Binance announced on Friday the ability to trade that currency without fees. Trading volume spiked as a result, which died down once the initial exuberance wore off.

Weekends can be volatile for cryptocurrencies because volume goes down and any news can move the market extremely quickly. With all of the liquidations in crypto today, it's possible we see even more selling pressure in the coming weeks as big leveraged positions are unwound. But that's not what's going to drive the price of cryptocurrencies long-term.

I do think it's worth taking a step back to think about what's being developed using cryptocurrencies and the blockchain as a base. There are now thousands of developers building businesses backed by billions of dollars of capital and we're just starting to see fruit from that investment. Over the next few years, we'll likely see many types of transactions move to the blockchain and businesses will begin building more use cases over time.

I'm bullish on this building that's taking place, but given the prevalence of trading in cryptocurrencies over the past year, it's not surprising to see a pullback. Traders who lost money are exiting the market and leveraged positions are being unwound. That will take time, but long term we need to keep in mind that a lot of value is being built and that will be great for investors who buy and hold.

Travis Hoium has positions in Ethereum. The Motley Fool has positions in and recommends Bitcoin and Ethereum. The Motley Fool has a disclosure policy.

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Why Bitcoin, Ethereum, and Dogecoin Dropped Today - The Motley Fool

Bitcoin rose 12.6% to finish near $21,600 but is bouncing back from gains to the $20,500 area at the start of the day, recording a 3.9% decline in the last 24 hours. Ethereum essentially copies the dynamics of the first cryptocurrency, losing 3.8% in 24 hours to $1150. Altcoins from the top 10 are losing between 2.4% (BNB) and 5.5% (Solana).

Total crypto market capitalisation, according to CoinMarketCap, rose 5.8% over the week to $916bn. Bitcoins dominance index climbed 0.6 to 42.8% over the same period.

The Cryptocurrency Fear and Greed Index rose 13 points for the week to 24 but lost 2 points by Monday and remains in extreme fear.

BTCs rise last week was halted by the 200-week moving average, now passing near $22,500. Bitcoin has continued to move sideways for three weeks near the critical $20,000 level, the high of the previous cycle.

BTC has never previously fallen below such marks, so it is now getting support from buyers confident in the first cryptocurrencys long-term growth. Another supportive factor was the rebound in financial markets, where the new half-year was met with increased buying.

However, as always in recent months, there are many questions about the sustainability of the rebound amid the Feds sharp interest rate rise and a slowing economy.

Rockefeller International managing director Ruchir Sharma believes the deleveraging process is not over, and BTC could still fall in the next six months as the stock market declines.

Galaxy Digital CEO Michael Novogratz said that the decline of the cryptocurrency market is close to being over. However, there could be a final tug from the bears shortly. He stressed that he does not believe BTC will fall to $13,000.

Cryptocurrency lending service Celsius has transferred 25,000 wBTC tokens worth $528m to the FTX exchange. The market fears Celsius will sell the tokens and crash the bitcoin exchange rate. According to Arkham, Celsius has lost $390m of client funds on investments in DeFi and NFT.

Nobuaki Kobayashi, the trustee of the bankrupt Mt.Gox exchange, has begun preparations to reimburse creditors. The situation on the market could worsen if 150,000 BTC were distributed among MtGox users and immediately flooded the market.

The US Federal Deposit Insurance Corporation (FDIC) is investigating Voyager Digital. According to the agency, the cryptocurrency broker deceived users by claiming their assets were protected by the agencys program.

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Awaiting the last Bitcoin mile - FXStreet

Back in mid-March 2022, Bored Ape Yacht Clubs (BAYC) Apecoin DAO launched and airdropped millions of apecoin tokens to specific NFT holders. The crypto asset dedicated to the BAYC ecosystem tapped an all-time high two months ago reaching $26.70 per unit on April 28. However, apecoin is down more than 81% since that day and despite the fact that 80,744 unique addresses own APE, the top 100 addresses control 51.21% of the circulating supply.

Just over two months ago, the crypto asset apecoin (APE) made headlines after the Apecoin DAO distributed millions of apecoin (APE) to NFT owners. APE was airdropped to BAYC, Mutant Ape Yacht Club (MAYC), and Bored Ape Kennel Club (BAKC) holders.

On March 17, APE was exchanging hands for $10.36 per unit or 53% higher than the price today ($4.81 per APE). After the launch, APE continued to rise in USD value and by April 28, apecoin reached an all-time high (ATH) of $26.70 per unit.

At that time on April 28, APE had a circulating supply of around 284,843,750 tokens and it held the 22nd largest market valuation out of 13,000+ crypto assets. During the ATH, APEs market cap had a dominance rating of around 0.40% as well. Moreover, at the time APEs concentration of whale entities was quite large in comparison to most of the top coins.

Today, is an entirely different story, at least for APEs crypto market performance. During the past month, apecoin has shed 14.5% against the U.S. dollar but did see an 8.2% rise during the past seven days. To date, APE is down 81% since the crypto assets ATH but what hasnt changed much is the whale concentration.

Bitcoin.com News reported on April 23, that 52% of the APE in circulation was held by 100 addresses. APE distribution has not changed much since the crypto winter started and the crypto economys value continues to slide. Statistics from coincarp.coms APE rich list indicate that the top 100 wallets own 51.21% of the circulating supply.

Metrics from intotheblock.com shows that apecoin (APE) has a Concentration of Large Holders rating of around 91% today. Thats a whole lot more concentrated than bitcoins (BTC) rating today which is around 10%.

Today, the top ten APE holders command 8.01% of the supply, the top 20 addresses hold 13.01% and the top 50 APE addresses hold 28.01% on July 10. While APE has seen 1,009,507 transactions total, its been averaging around 2K to under 1K per day in transfers.

On July 9, 2022, 819 APE transfers were recorded and during the last week, $71.24 million worth of APE was transactions tied to transfers greater than $100K per transaction. Search data further shows that interest in apecoin (APE) has slid a great deal in the last two monts.

Google Trends (GT) data indicates that on the week of March 13th through the 19th, the search term apecoin tapped the highest score of 100. This week, the search query apecoin has a score of 5, according to worldwide GT metrics on July 10, 2022.

What do you think about apecoins market performance during the past two months? What do you think about the whale concentration levels? Let us know your thoughts about this subject in the comments section below.

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,700 articles for Bitcoin.com News about the disruptive protocols emerging today.

Image Credits: Shutterstock, Pixabay, Wiki Commons

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Top 100 Apecoin Holders Control Over 51% of the Supply, APE Lost 81% in 2 Months News Bitcoin News - Bitcoin News

This week in coins. Illustration by Mitchell Preffer for Decrypt

It was a great week for investors as nearly all of the top 100 cryptocurrencies by market capitalization grew in value, despite the lingering crypto winter exacerbated by insolvency issues at crypto lenders Vauld and Voyager.

Bitcoin has jumped more than 12% over the last seven days to trade at $21,565 as of this writing, according to CoinMarketCap. Meanwhile, Ethereum enjoyed an even bigger rally, adding more than 15% to $1,216.

Various leading projects ballooned over 20% during the week: Uniswap surged 30% to $6.33, Polygon rallied 26% to $.59, and Avalanche added over 22% to hit $19.94. And Solana rallied nearly 16% to $38.14.

Only one top 50 cryptocurrency actually depreciated this week: UNUS SED LEO fell less than 1% to $5.73.

As prices recovered, industry news was rife with stories about Vauld and Voyagers financial difficulties, a week after Singapore-based crypto hedge fund 3AC filed for Chapter 15 bankruptcy after failing to meet margin calls from lenders, and barely a fortnight after lender Celsius froze withdrawals due to financial woes.

On Monday, Singapore-based Vauld announced it was suspending all withdrawals, deposits, and trades due to volatile market conditions and financial difficulties of our key business partners. Since June 12, the company has faced withdrawals totaling $197.7 million. Revenue recently plummeted, forcing the company to lay off 30% of its staff last month.

Responding to the news on Tuesday, crypto lender Nexo announced it signed an indicative term sheet to acquire Vauld, giving Nexo a 60-day exploratory period to conduct due diligence. Pending a satisfactory outcome, Nexo will buy up to 100% of the firm and reorganize operations to deepen its presence in Asia.

On Wednesday, crypto broker Voyager filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court of the Southern District of New York. Voyagers stock plunged almost 12% on the news.The company revealed last month it had a $661 million exposure to 3AC.

It also came to light on Wednesday that Alameda Research, the firm founded by FTX CEO Sam Bankman-Fried, which last month extended a $500 million line of credit to Voyager, owes the broker $377 million, according to Voyagers bankruptcy filing.

That led regulators in Texas and Alabama to announce that theyre investigating Voyagers collapse. Joe Rotunda, director of enforcement at the Texas State Securities Board, told Bloomberg: What were seeing now is that a lot of these crypto-lending firms may not have fully disclosed what they were doing on the backside with investors money.

The LDO token for Ethereum staking solution Lido rose a staggering 51% this week as Lidos Staked Ether (stETH) token was slowly repegging. Lidos Staked Ether is a large part of Celsiuss ongoing liquidity crisis, because the lender had staked customer funds on Lido and currently holds at least $487 million worth of stETH in a public wallet, according to Nansen.

Staked Ethereum is issued by Lido to represent Ethereum thats been locked up in Ethereums Beacon Chaina network that will be merged with Ethereums mainnet in the coming months in an upgrade to transition the entire network to a proof-of-stake consensus mechanism and, reportedly, render the network 99.95% more energy efficient. After the merge, stETH will be redeemable 1:1 for Ether, so many expect a full repeg.

On Wednesday, Ethereum testnet Sepolia transitioned to proof-of-stake. Ethereum developers have now tested the merge on two public testnets, including Ropsten. Just one more testnet remains (Goerli) before the entire network completes The Merge.

Registrations on the Ethereum Name Service (ENS) spiked 216% last week, with 64,000 addresses created on Sunday and Monday alone. ENS is a decentralized domain name protocol on Ethereum that allows people to swap their traditionally unwieldy wallet addresses for more memorable .eth domains.

Finally, ProShares Bitcoin Short ETF (BITI) grew 306% last week to become the second-largest Bitcoin ETF in the United States after ProShares own Bitcoin Strategy futures ETF (BITO). BITI now holds net short exposure equivalent to 3,811 BTC, up from just 937 BTC on June 27, according to Arcane Research, while BITO holds about 32,000.

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This Week in Coins: Bitcoin and Ethereum Rebound Despite Vauld and Voyager Woes - Decrypt