• This article discussed the increasing value of Bitcoin, which is now above the realized price of every year other than 2021.
• Investors who have bought Bitcoin in the past few years are sitting on some profits.
• The average withdrawal prices for cohorts established by date were also considered in this chart.

Bitcoin Price Above Realized Prices Except 2021

Bitcoin has been steadily climbing in value and is now above the realized price of every year other than 2021. This is encouraging news for investors who have been buying Bitcoin over the past few years and are now enjoying some profits.

Average Withdrawal Prices for Cohorts Established by Date

In order to estimate a market-wide cost basis, we can monitor the average price at which coins are withdrawn from all exchanges. In this chart, we consider the average withdrawal prices for cohorts established by date, starting on January 1st for each cohort: All-time ($11,173), 2017+ ($15,267), 2018+ ($18,698), 2019+ ($21,863), 2020+ ($26,413), 2021+ ($36,465), 2022+ ($26,225), 2023+ ($22,394).

Quick Take

Bitcoin is now above the realized price of every year other than 2021. Investors who have purchased Bitcoin in recent years are sitting on some profits at present which is certainly encouraging news for participants in the cryptocurrency space.

What Is Bitcoin?

Bitcoin is a decentralized currency that defies traditional banking systems or controllers and transacts electronically with no need for intermediaries via its peer-to-peer network.

Disclaimer

CryptoSlate does not provide investment or financial advice and does not endorse any project that may be mentioned or linked to within this article. Buying and trading cryptocurrencies should be considered a high-risk activity and readers should always do their own due diligence before taking any action related to content within this article. CryptoSlate takes no responsibility should you lose money trading cryptocurrencies

• FTX’s former CEO Sam Bankman-Fried received $2.2 billion in payments and loan from the bankrupt firm, according to a press statement.
• Other executives like Nishad Singh, Gary Wang, Caroline Ellison, John Samuel Trabucco and Ryan Salame cumulatively received $1 billion.
• FTX is still working on efforts to recoup the bankrupt firm’s assets.

FTX Identifies Over $3B Transfer

FTX recently announced that its former CEO Sam Bankman-Fried (SBF) and other top executives of the bankrupt firm had collectively received a total of $3.2 billion in payments and loans — mainly from its sister company, Alameda Research. SBF alone had received $2.2 billion of this payout while the remaining executives such as Nishad Singh, Gary Wang, Caroline Ellison, John Samuel Trabucco and Ryan Salame cumulatively got around $1 billion. The said payments excluded expenditures made on luxury properties in Bahamas, political donations and charitable contributions.

Recovering Assets

FTX has been actively investigating to identify all available assets, liabilities and transfers related to the defunct firm which also includes intercompany claims among various subsidiaries based in Bahamas or other regions as well. Since his appointment as the new CEO of FTX earlier this year, John Ray has been instrumental in leading these efforts for recovering whatever assets remain under control or with government authorities even though it is impossible to predict exact amount or timeline for any potential monetary recoveries at present time.

Excluded Payments

The press release further mentioned that several payments were excluded from the total value of $3.2 billion which includes over $240 million spent by former executives on purchasing luxury properties in Bahamas apart from their political & charitable donations. It also clarified that substantial transfers were made to subsidiaries based out of Bahamas or elsewhere which are not part of this payment figure released by FTX recently either.

Background Information

FTX was founded back in 2018 as a trading platform catering primarily to cryptocurrency markets but some mismanagement within organization led it towards bankruptcy earlier this year itself when certain discrepancies came into light during internal investigations carried out later on . As per reports , Sam Bankman-Fried was serving as its CEO until then who decided to step down immediately after public announcement regarding financial irregularities within firm’s operations though he denied any kind of direct involvement himself .

Conclusion

To conclude , FTX recently revealed details about huge payouts given out by them including over £3 billion transferred amongst their top executives prior to their bankruptcy announcement last year . Although they have already started exploring options for recovering whatever remains of their assets , it will take some time before anything concrete can be declared in terms of actual monetary recoveries since most entities involved are still under investigation right now .

• Xapo, a regulated European bank, recently announced support for the Lightning Network, putting it on the map.
• Sovereign roll-ups allow users to store or hash transactions on the Bitcoin blockchain.
• Silvergate’s recent deposit drops highlights the need for crypto companies to find other banking options.

Xapo Adopts Lightning Network

Xapo, one of the OG companies in the crypto industry, recently rebranded and engineered itself into a bank regulated out of Gibraltar. This move has caught the attention of many in the industry as it now supports Lightning – a significant milestone as it puts Lightning on the map.

Sovereign Roll-Ups

Sovereign roll-ups have been gaining traction amongst NFTs which allows them to put massive Jpegs in the Bitcoin blockchain. A company has said that users can put roll-ups and essentially just rolling up a blob of transactions, subbing in Bitcoin. Discussions have been sparked around whether this is a good thing as it provides different approaches to storing or hashing transactions on the Bitcoin blockchain.

Silvergate Fallout

Silvergate, an American custodial bank with real-time settlement network of sand, recently experienced major deposit drops which no traditional bank would be able to survive. This raises questions about how crypto companies can move funds given that mobility of cryptocurrency is unlike any other asset class.

Microstrategy Equity Play

Microstrategy has been making headlines due its substantial amount of debt with some yielding interest rates up to 6%. This high beta on Bitcoin seems like a good equity play despite having associated risks with equities investments.

Conclusion

The banking crisis in Bitcoin is not new and continues to challenge both domains each day as they experience tremendous growth over time. Companies like Xapo are pushing boundaries by introducing solutions such as Lightning Network adoption while others like Microstrategy are providing sensible equity plays for Bitcoin investors despite its associated risks. Meanwhile, Silvergate’s recent fall out highlights how critical it is for crypto companies to find alternative banking options when traditional banks don’t meet their needs anymore

Introduction

Startup Redeem has recently raised $2.5M in order to enable users to transfer NFTs using popular messaging services such as iMessage, WhatsApp, or SMS. This will make it easier for the next wave of NFTs to enter the mainstream market while eliminating the need for complicated crypto interfaces or gas fees.

Redeem Founders

The company was founded by Toby Rush and Kenny Conklin III. Rush is a former Ant Group/Alibaba executive and founder of EyeVerify (acquired by Alibaba for $100 million in 2016). Conklin is a veteran blockchain executive who previously served as president of Analytico Trading, Inc., a cryptocurrency market maker.

Fundraising Efforts

On Feb. 27., Redeem announced that it had raised $2.5M through a consortium of venture capitalists led by Kenetic Capital, which will be used to roll out their product launch and aid in further developments.

Kenetic Capital’s Statement

Jehan Chu, founder of Kenetic Capital said: “Adoption is the Holy Grail of Web3 […] Redeem’s core features enable users to access the world of Web3 quickly, without any prior blockchain knowledge.“

Conclusion

Through this fundraising effort and technology implementation, Redeem aims to make NFT transfers easy and accessible for everyone with a mobile phone – potentially exposing NFT technology to billions of new customers around the world.

• US regulators have issued a joint statement to banks warning of potential liquidity risks stemming from cryptocurrency-related clients and their deposits.
• The statement for the first time included a warning about stablecoin reserves and urged banks to ensure their monitoring tools are up-to-date.
• Banks may face increasing outflows from deposits made for the benefit of retail investors and stablecoin reserves during times of uncertainty.

US Watchdogs Issue Warning to Banks on Crypto Deposits

The Federal Reserve, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency jointly issued a statement on Feb 23rd warning banks about liquidity risks stemming from cryptocurrency-related clients and their deposits. This is the first time that such a warning has been issued regarding stablecoin reserves.

Statement Urges Banks To Monitor Crypto Reserves

The joint regulatory statement urged banks to ensure that their monitoring tools are up to date in order to ascertain the health of any crypto-related fund or deposit. Banks may face increasing outflows from deposits made for the benefit of retail investors and stablecoin reserves especially during times of uncertainty when there could be unanticipated redemptions on a large scale.

Regulatory Statement Does Not Impose Restrictions

It was noted that this statement does not mandate any new actions or restrict banks from providing services to the sector, but is instead meant as an alert for increased vigilance given recent events highlighting volatility issues in this industry.

Stablecoins Also at Risk During Uncertain Times

The regulators warned that like cryptocurrencies, stablecoins too are at risk of heavy outflows during times of economic hardship which can lead to large scale redemptions not anticipated by financial institutions.

Conclusion

In conclusion, US regulators have issued a joint statement to warn banks about potential liquidity risks associated with crypto-related clients and their deposits including those linked to stablecoin reserves. The watchdogs urged banks to ensure they have updated monitoring tools in order for them to accurately determine if these funds or deposits pose any risk during uncertain times when there could be sudden outflows due to unexpected redemptions.

Overview of Article

• Binance.US sent approximately $404 million to a firm managed by Binance CEO Changpeng Zhao.
• Regulators have suggested that lack of public disclosure on the matter created a conflict of interest.
• The SEC first subpoenaed Binance.US in 2020.

Transactions Made in 2021

Binance.US, under the name BAM Trading, sent millions of dollars from an account at Silvergate Bank to a trading firm called Merit Peak Ltd. Merit Peak names Binance CEO Changpeng Zhao as its manager and this reveals a possible conflict of interest with the Binance CEO. Regulators have suggested that lack of public disclosure on the matter created a conflict of interest.

Reason Behind Transfers Unknown

Reuters was unable to find out why these transfers took place or whether the transferred funds belonged to exchange customers. The transfers took place in late 2020 and the first quarter of 2021, around which time Catherine Coley (formerly serving as Binance.US‘ CEO) suddenly left the company and went dark on social media after noticing these unusual transactions and questioning other staff members on it.

Investigation By SEC

The connection between Binance.US and Merit Peak has attracted attention since February 2022 when it was reported that the U.S Securities & Exchange Commission (SEC) was investigating into various partners associated with Binance US exchange – having previously issued them a subpoena in 2020 for further investigation into their activities.

„Outdated Information“ Claimed by Binance US

Binance US did not comment on the transactions but told Reuters that they had accessed „outdated information“. They also mentioned that Merit Peak isn’t using any services from them currently, although it is unclear as to when their activities ceased altogether.

So far, little is known about why these transfers were made or what implications they may have on both parties involved, but with regulators now looking into it we can expect more information coming out soon regarding this case involving two giant entities within the cryptocurrency industry – Binance US & Merit Peak Ltd

• Ethereum NFT market cap dropped 59.6% in 2022, but numbers from January indicate growth.
• Trading volume on Ethereum NFT collections jumped 38% in January, with CryptoPunks and Bored Ape Yacht Club (BAYC) accounting for 46.7% of the total ETH NFT market cap.
• Top three blockchains with highest trading volume were Ethereum (ETH), Solana (SOL), and Polygon (MATIC).

Ethereum NFT Market Cap Shrinks in 2022

Ethereum-based Non-Fungible Token (NFT) collections‘ market cap decreased significantly by 59.6%, dropping from $9.3 billion to $3.7 billion in 2022, according to a DappRadar report. Yuga Labs, which includes popular collections like CryptoPunks and Bored Ape Yacht Club (BAYC), accounted for 67% of the total market cap of ETH-based NFTs.

January 2021 Sees Growth

In contrast to the year’s declining trend, numbers from January 2021 indicate that the Ethereum NFT market is starting to flourish again. The trading volume for these collections jumped 38%, reaching an all-time high of $946 million since June 2022, according to another report by DappRadar. Sales count also increased 42%, going up from 6.7 million in December to 9.2 million transactions in January 2021 alone

Top Blockchains With Highest Trading Volume

The top three blockchains with highest trading volume were Ethereum (ETH), Solana (SOL) and Polygon (MATIC). ETH recorded a 37% increase from December’s $480 million to $659 million while SOL saw a 23% increase from $69 million recorded in December 2022. MATIC stood out as it recorded the third-highest growth rate of 124%. Additionally, Avalanche (AVAX) and Tezos (XTZ) recorded the first and second largest monthly growth rates at 451% and 150%. On the other hand, Immutable X (IMX) and WAX (WAXP) blockchains saw -3% decrease each respectively during this period

Yuga Labs Account For Most Of Total Market Cap

Yuga Labs include popular NFT collections like CryptoPunks, Bored Ape Yacht Club (BAYC), Bored Ape Kennel Clum(BAKC), Mutant Ape Yacht Club(MAYC), Meebits and Otherdeeds for Otherside . Together these two accounted for 46.7% of the total ETH NFT market cap with BAYC having a floor price of $98,438 and recording a transaction value of about $49 million in January 2021 alone

Conclusion

Overall ,the numbers reported by DappRadar show that despite shrinking market caps , Ethereum based Non Fungible Tokens have seen impressive growth over the last month . This indicates that investors are more confident investing into this space once again .

• Terra UST (USTC) has surged 66% following a governance approval to re-peg the stablecoin.
• The Terra Classic community passed a proposal to relink LUNA Classic and the de-pegged USTC stablecoin.
• Strategies to restore USTC to its peg include holding reserves in multiple assets, implementing a buyback and burn mechanism, paying out interests in US dollars, and integrating multiple oracle systems.

The Terra Classic community recently passed a proposal to relink LUNA Classic and the de-pegged USTC stablecoin, leading to a surge in the Terra UST (USTC) stablecoin. Following the approval, USTC surged 66%, with Terra Classic (LUNC) also up 17.3%.

The collapse of the Terra empire in May 2022 resulted in the algorithmic stablecoin UST and sister token LUNA collapsing below zero. To restore the ecosystem, the tokens were rebranded to LUNA Classic (LUNC) and USTC.

In an effort to restore the USTC stablecoin to its peg, the Terra Classic community has been considering various proposals. The approved proposal to relink USTC and LUNC seeks to restore USTC to peg through a combination of strategies.

First, the proposal includes holding reserves in multiple assets and currencies to provide liquidity to the USTC stablecoin. Second, a buyback and burn mechanism will be implemented to regulate the supply and demand of USTC. Third, to incentivize holders to keep USTC when it is below peg, interests in US dollars will be paid out. Lastly, to reduce the risk of manipulation by a single oracle, multiple oracle systems will be integrated to provide exchange rate data.

The efforts to restore USTC to its peg is being met with optimism from the Terra Classic community. USTC is currently trading at $0.0399, and with the approved proposal, it is expected to reach its peg in the coming weeks. With the news, the Terra Classic community looks forward to the full restoration of the ecosystem.

Bullet Points:
• The cryptocurrency market cap saw net outflows of $2.09 billion over the last 24 hours, currently standing at $1,044.31 billion.
• Polygon topped the list of the top 10 cryptocurrencies, posting 7.7% gains.
• Bitcoin dropped 0.2%, while Ethereum lost 1.6%.

The cryptocurrency market has seen a lot of activity over the last 24 hours. The total market cap of all digital assets dropped slightly, down 0.2%, to a total of $1,044.31 billion. This was mainly due to the slight drops of both Bitcoin and Ethereum, the two largest cryptocurrencies in the market.

Bitcoin dropped 0.2%, falling to a total of $22,960 as of 07:00 ET. Its market dominance, however, grew slightly to 42.4% from 42.3%. The price of BTC experienced a gradual downtrend, finding support at $22,541, before bulls stepped in to take the price back to pre-sell off levels.

Ethereum lost 1.6% over the last 24 hours, trading at $1,578 as of 07:00 ET. Its market dominance fell to 18.5% from 18.8%. Ethereum’s price action followed that of Bitcoin, achieving a peak of $1,599 before dropping to the support level of $1,570.

Tether (USDT) and BinanceUSD (BUSD) both saw their market caps grow, reaching $67.34 billion and $15.76 billion, respectively. USD Coin (USDC) was the only one to take a hit, dropping to $43.47 billion.

The top 10 cryptocurrencies also recorded a mixed performance over the last 24 hours. Polygon topped the list, posting 7.7% gains while Solana, yesterday’s top gainer, brings up the rear, down 2.6%. This shows that the market remains volatile and unpredictable, and that investors should remain vigilant when making decisions.

• Bitcoin dominance has hit 41.5%, the highest level in six months.
• Ethereum dominance is also up, currently standing at 19.4%.
• The market cap for the entire crypto space is just under $1 trillion.

The crypto-space has been abuzz recently, with Bitcoin’s dominance hitting its highest level since July of 2022. According to data from Glassnode, BTC dominance has reached 41.5%, with Ethereum’s dominance also on the rise, standing at 19.4%.

The market cap for the entire crypto space is just under $1 trillion, a sign of the growing interest in the digital asset space. The BTC-ETH Dominance metric is an oscillator that tracks the macro outperformance trends between the top two crypto-assets. Lower values and downtrends indicate an outperformance of ETH over the pink line. This means ETH has been outperforming BTC since early 2021.

As the crypto market continues to attract more attention, the demand for Bitcoin and other digital assets is likely to increase. This will likely result in an increase in the market capitalization of the entire crypto space, and potentially higher BTC dominance levels.

Although Bitcoin is currently leading the charge in terms of market capitalization, there is still a lot of potential for other digital assets to gain in value over time. Ethereum, in particular, has been gaining more attention as of late, with the DeFi sector being a major driver of growth for the asset.

As the crypto space continues to evolve, it will be interesting to see how Bitcoin and other digital assets respond. With the current level of BTC dominance, it seems that the asset is still the clear leader in terms of market capitalization and market share. However, Ethereum could eventually challenge the king of crypto if it continues to gain traction and acceptance from mainstream investors.