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This week the sales volumes of CryptoPunks toppbitcoin kaufen sparkasseed $150 million, a new record, according to data from industry website CryptoSlam. This follows a record July that saw sales volume explode.August sales have reached $373 million, a new record. The previous largest single monthly sales total was $135.2 million during July. August's average price for a CryptoPunk is $209,000, more than double last month’s average price.
The Visa purchase, dismissed by some as a publicity stunt, marks an incredible run for Cryptopunks, one of the original NFT projects. Six months ago, following the first NFT boom, the floor price for a Cryptopunk was an impressive $34,700.Today that floor price is $395,000 and rising by the day.Crypto Punks can be bought and sold via the Larva Labs website, peer to peer between traders, or on NFT marketplaces such as OpenSea. The OpenSea NFT markets have seen 274,641 in ETH volume traded for CryptoPunks in the last 60 days. In total, CryptoPunks have done over 460,000 ETH in trading volume just on OpenSea - that's over $1.4 billion based on today's ETH price.The Christie's NodIn May fine art auction house Christie’s announced it would hold a high profile NFT auction featuring a collection of nine CryptoPunks. Noah Davis, a specialist in post-war & contemporary art at the auction house, described CryptoPunks as the ‘Alpha and Omega of the crypto art world’. As with the Beeple sale, payment in ETH was accepted for the auction. A lot of 9 CryptoPunks portraits ended up selling for just under $17 million, marking a key moment for NFT art sales.
The nine punks were sold from the personal collections of CryptoPunks' creators Matt Hall and John Watkinson. They highlight some interesting visual features of the CryptoPunks series — including muttonchops, earrings, big shades, crazy hair, a hoodie, a mohawk, and more.The punks come from the first 1000 punks issued - out of the 10,000 total punks. They include CryptoPunk 2, a female punk with a wild hair accessory, and CryptoPunk 635, one of the alien punks.Related: Latest DeFi hack targeting BSC sees $12.7M in Bitcoin stolen from pNetwork
The latest incident comes amid the increasing number of exploits targeting the Avalanche, a DeFi-focused blockchain protocol launched in September 2020. Last week, the Avalanche-based DeFi application Zabu Finance was reportedly exploited for $3.2 million, causing the value of Zabu tokens plummet to zero.Avalanche’s native token, AVAX, has been hitting new all-time highs recently, with its price surpassing $75 on Sept. 18, according to data from CoinMarketCap. At the time of writing, AVAX is trading at $61.79, down about 3% over the past 24 hours, but still up around 12% over the past seven days.Bitcoin miner are accumulating as the network hash rate continues to recover according to on-chain analytics provider Glassnode.In its Sept. 20 Week on Chain report, glassnode has stated that miner BTC balances are increasing, with wallets associated with miners having stockpiled 14,000 BTC worth roughly $600 million over the past six and a half months.
The report also noted that the bull markets of 2020 and 2021 have seen miners hold onto a larger portion of their rewards than in previous market cycles. Miners usually sell BTC to cover their expenses including electricity bills and hardware.The trend of miner accumulation continued as the Bitcoin network’s hash rate recovered this past quarter.
Amid speculation regarding a wholesale Chinese miner exodus, Glasnnode reported that Bitcoin’s hashing power had slumped 51% to a local low of 90 Exahashes in late June according to Glassnode.Network hashing power has recovered 52% from to tag 137 Exahashes according to a seven-day moving average. Hash rate recovery indicates that most mining operations have now relocated and are up and running again.However, Bitcoin hash rate is currently sitting 34% below its all-time high of 184 Exahashes from May.Related: Four North American Bitcoin miners that could benefit from the East-West shift
Despite the expanding mining treasuries and hash rate recovery, shares in publicly traded mining firms have pulled back as the broader financial markets retrace amid fears that Chinese property giant Evergrande may soon default on its loans.Riot Blockchain, which has been spending big on building a new data center in Texas and expanding its hashing capacity this year, has suffered a 2.4% slide in the price of its stock since the start of trading Sept. 20.Competitors Marathon and Hive Blockchain are both down by a more modest 1.5% since Monday morning, while shares in Hut 8 stocks have fallen by 5.4% over the same period - rounding off the performance for each of the “Big Four” North American mining firms.However, mining stocks have outperformed Bitcoin for the week so far, with BTC tumbling more than 10% to trade at $42,730 at the time of writing, according to CoinGecko.
Retail-trading platform Robinhood is reportedly testing a long-awaited digital wallet feature that enables users to send and receive crypto-assets such as Bitcoin (BTC).Bloomberg reported the rumor on Sept. 21, with the publication claiming to have seen screenshots of a withdrawal interface in a beta version of the wallet feature in Robinhood’s IOS app.
While details are sparse, Bloomberg also claims to have seen a waitlist where users will be able to sign up for the new digital asset wallet. “The app also has code referring to cryptocurrency transfers,” the report added.Robinhood users are currently only able to buy crypto with US dollars and trade digital assets on the platform, as the app does not support crypto deposits and withdrawals.
Robinhood’s crypto traders have long badgered the company to introduce deposit and withdrawal functionality for digital assets, with the calls having grown this year as fiery-eyed Dogecoin fanatics converged on the platform.In an Aug. 19 quarterly earnings call, Robinhood CEO Vlad Tenev announced that the firm was finally exploring introducing a crypto wallet."I know there's been a ton of enthusiasm from the crypto community and the Dogecoin community in particular in getting access to wallets," Tenev stated, emphasizing the firm’s excitement to launch the new feature.Robinhood first launched Bitcoin and Ethereum trading services in 2018 for customers in five U.S. states. Robinhood has since expanded its altcoin support and currently allows traders based in all but four U.S. states to access its crypto features.Crypto services have become a significant part of Robinhood’s revenue in 2021, with its Q2 report showing that around 41% of its $565 million revenue was from crypto trading. By contrast, the firm generated $5 million from crypto trading for the entirety of 2020.Earlier this month, the firm expanded its crypto offerings by launching a recurring crypto investment feature allowing users to dollar cost average (DCA) into crypto positions.
Robinhood is not alone in looking to expand its support for crypto, with an increasing number of mainstream firms announcing moves to enable digital asset payments.Cointelegraph reported on Sept. 16 that AMC Entertainment plans to accept movie ticket payments in Ether (ETH), Litecoin (LTC) and Bitcoin Cash (BCH) by 2022. The company already announced plans to support Bitcoin payments in August.
On Sept. 15 software giant Adobe also announced that merchants using its Adobe Commerce product will be able to accept cryptocurrency payments via Paypal from the fourth quarter of this year.DELIVERED EVERY MONDAY
Recent dialogue between MakerDAO developers and the office of anti-crypto Senator Elizabeth Warren’s has revealed a concerning lack of familiarity with the current decentralized finance (DeFi) ecosystem.On Sept. 20, a screenshot began circulating on social media appearing to show dialogue between members of the MakerDAO community discussing the conclusions from a recent meeting between representatives of the project and the office of Senator Warren.
In the screenshot, pseudonymous MakerDAO Governance delegate “PaperImperium” claims to have spent much of the time convincing Warren that Maker is not the same project as The DAO — an infamous early experiment in decentralized autonomy organizations (DAOs) that suffered a major hack before failing in 2016.MakerDAO is currently sixth-largest DeFi protocol commanding a total value locked of more than $8.2 billion, according to DeFi Llama.Despite the confusion, the delegate also concluded that the Senator is “not super interested in us,” adding that they “have a commitment for another meeting” that is expected to take place within roughly three weeks.While the screenshots shared to social media claim appear to be citing Senator Warren directly, a Sept. 17 thread posted to MakerDAO’s governance forum indicates the project’s delegates would be meeting with Warren's “economic and banking advisors.”
The meeting comes after increasing efforts from MakerDAO to promote initiatives establishing dialogue between the crypto industry and lawmakers.Elizabeth Warren has recently become a pariah to the crypto industry, labeling crypto as "the new shadow bank" and a "lousy investment" in recent months.
Earlier this month she suggested it would be “worth considering” prohibiting U.S. banks from holding the reserves to back private stablecoins in a move that could “effectively end the surging market.”Related: Sen. Warren goes after Ethereum network fees in committee hearing
The DAO was one of the first major projects on Ethereum, launched in 2016 after raising $150 million USD worth of ETH through a token sale. The DAO was hacked due to code vulnerabilities and $60 million in ETH was stolen less than 3 months after it launched.It was one of the most heavily invested crypto projects to date, having attracted 14% of all circulating ETH at the time.
As a result of the incident, the Ethereum community opted to hard fork Ethereum to reverse the attack, with dissenting voices maintaining the old chain to spawn the Ethereum Classic classic chain.Despite Bitcoin (BTC) dropping below the $43,000 mark on Monday, the outflow of BTC from exchanges has continued in a multi-month trend, particularly on Coinbase Pro.Over the past month, the amount of Bitcoin held in Coinbase Pro’s vaults dropped by 28,843.87 BTC. Similarly, other crypto exchanges, including Kraken, OKEx, Bitfinex and Huobi, also experienced a drop in their Bitcoin holdings, with the withdrawn amount totaling 30,236 BTC across the board.On-chain analysts perceive falling Bitcoin reserves as a bullish signal.
That is primarily because most traders move their BTC assets to exchanges only when they prefer to trade them for other assets — be it fiat currencies or altcoins. As a result, the exchange balance serves as a metric to gauge traders’ sentiments for the underlying asset.As a result, Coinbase Pro’s declining Bitcoin reserves hint at its traders’ intention to hold BTC instead of selling it. But, at the same time, its top rival, Binance, has been playing a spoilsport.
However, data also shows that the Bitcoin balance in Binance wallets has risen to 29,717 BTC in the last 30 days, which is more than the amount Coinbase Pro withdrew from its vaults.As the world’s leading crypto exchange by volume, Binance enjoys a certain influence on the market due to its global outreach. The exchange’s rising Bitcoin balances suggest that its users could sell an increasing amount of BTC, the opposite of the trend seen on Coinbase.
The increase in Bitcoin reserves on Binance also reached levels that followed up with the market sell-offs during the second quarter of 2021. Notably, the Bitcoin balance on the exchange spiked from 199,700 BTC on April 20 to 347,590 BTC on June 26.The same period saw BTC/USD drop from around $65,000 to below $30,000, including the notorious May 19 crash when Bitcoin plunged by more than 30%.