News & Research

Nasdaq-listed BTCS, a strategic acquirer of Ethereum, reported record-high revenue for the third quarter driven by its Digital Asset Treasury (DAT) and DeFi strategies, according to The Block. The company's net income surged to $65.6 million, largely due to unrealized gains on its Ethereum holdings, which now exceed 70,000 ETH. BTCS operates an Ethereum infrastructure business focused on its Builder+ for block building, NodeOps for staking, and Imperium for generating on-chain DeFi revenue. As of Sept. 30, the company held 70,322 ETH.

A whale address that had been staking Ethereum for the past two years deposited 4,037 ETH, valued at $12.66 million, to Kraken approximately one hour ago, according to Onchainlens. The move resulted in a realized profit of $5.08 million.

An anonymous whale or institution has purchased 9,945 ETH, valued at $31.89 million, in over-the-counter (OTC) trades via FalconX, Wintermute, and Coinbase, Onchain-Lense reported. The same entity previously earned $94 million from swing trading.

Binance has announced it will list four new spot trading pairs: ACM/TRY, DODO/TRY, HEI/TRY, and XTZ/TRY. The listings are scheduled to go live at 12:00 p.m. UTC on the 26th.

The following are the 24-hour long/short position ratios for BTC perpetual futures on the world's top three crypto futures exchanges by open interest: Aggregate: 48.07% long / 51.93% short 1. Binance: 47.5% long / 52.5% short 2. Bybit: 47.59% long / 52.41% short 3. Gate.io: 51.31% long / 48.69% short

Nasdaq-listed Bitmine, a company focused on Ethereum investments, has withdrawn 9,176 ETH ($29.14 million) from a Galaxy Digital over-the-counter (OTC) wallet, Lookonchain reported. The on-chain analytics firm noted that Bitmine continues to accumulate ETH despite the market downturn.

Haseeb Qureshi, a managing partner at Dragonfly, stated on X that the current market downturn is the most insignificant when viewed against past precedents. He suggested that many people have forgotten the 2022 crash, which he recalled as a precarious situation akin to a house of cards on the verge of collapse, citing the Terra-LUNA incident and the failures of Three Arrows Capital, FTX, Genesis, BlockFi, and the NFT market. Qureshi noted that during that period, everything collapsed, banks failed, stablecoins de-pegged, and the U.S. Securities and Exchange Commission (SEC) under Chair Gary Gensler tightened its grip on crypto firms. Compared to 2022, he described the current market situation as a "walk in the park," emphasizing that while prices have fallen, the fundamentals remain strong.

Institutional investors are buying the dip on BTC, according to Lookonchain. Over the past nine hours, 4,094 BTC, valued at $405 million, was deposited to an Anchorage Digital address from Coinbase, Cumberland, Galaxy Digital, and Wintermute.

U.S. Bitcoin spot ETFs experienced a total net outflow of $867.35 million on Nov. 13, marking the second-largest single-day outflow on record after that of August 1, according to Trader T. The outflows were led by Grayscale Mini BTC with $318.20 million, followed by BlackRock's IBIT with $257.18 million, Fidelity's FBTC with $119.93 million, Grayscale's GBTC with $64.50 million, and Bitwise's BITB with $47.03 million.

An address believed to belong to Strategy has transferred 2,357.38 BTC, valued at $234 million, to an external address beginning with 36BMe, according to Arkham. Of that amount, 875 BTC was then moved to another address.