Nifty News: Trader nabs 800 ETH by baiting a bot, NFT thefts slow and more
A trader walked off nearly $1.5 million richer after tricking a bot copying his trades to buy a slew of NFTs at a markup.
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Značka: trading volume
Bitcoin Ordinals volume hits $210M in Q2 – DappRadar
The advent of Bitcoin Ordinals NFT inscriptions led to more $210 million in trading volume through the first half of 2023.
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Uniswap proposal to launch on Polygon zkEVM is set to pass
All 191 UNI token holders voted in favor of the proposal to launch the DEX on Polygon’s zkEVM.
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Binance’s market share drops on CFTC suit and no-fee trading halt: Report
Binance’s market dominance fell largely due to its decision to end zero-fee trading for some trading pairs and not the CFTCs lawsuit, says Kaiko.
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Ethereum domain names top Bored Apes on OpenSea's weekly chart
Ethereum Name Service (ENS) domain names have surpassed Bored Ape Yacht Club (BAYC) as the most traded asset on NFT marketplace OpenSea over the last seven days — seemingly ahead of the Ethereum Merge. According to OpenSea data, the weekly volume of the Ethereum domain NFTs eclipsed 2,249 ETH at the time of writing, beating out RTFKT Clone X (1,992 ETH) and Bored Ape Yacht Club (1,777 ETH).ENS domains are a distributed, open and expandable naming system on the Ethereum blockchain that allows users to turn a long string of keys for a crypto address into a single ENS domain such as “vitalik.eth.”This simplifies the complexity of copying and pasting a lengthy wallet address to send and receive crypto, as users only need to share their domain name like any other ordinary address or identification details.These domain names can be bought, sold and traded between users in the form of NFTs. The recent spike in ENS trading volume has seen the average price of ENS items increase 167% from 0.1454 ETH to 0.3895 ETH ($641), while daily volume has risen from 120.7 ETH to 1044.6 ETH.There are now over 2 million ENS items on OpenSea, spread amongst more than 508,000 owners, with total sales now sitting at 2,682 ENS domains sold.60-Day Average Price Change For ENS on OpenSea. Source: OpenSea.According to OpenSea, some of the most expensive ENS domain names are 000.eth, which was bought for 300 ETH and is on sale for 5,000 ETH, along with opensea.eth, crypto.eth, google.eth, and nike.eth.The strong start in September follows an impressive ENS sales month in August, which saw more than 300,000 new “.eth” registrations, and monthly revenue of 2,744 ETH, the third-highest month since ENS was founded in 2018.August 2022 stats for ENS- 301K new .eth registrations (total 2.17m names)- $4.7m in protocol revenue (all goes to the @ENS_DAO)- 2,744 ETH in revenue (3rd highest month)- 34K new eth accounts w/ at least 1 ENS name (total 540k)- >99% of OpenSea domain vol pic.twitter.com/utU8i4cBMT— ens.eth (@ensdomains) September 1, 2022The spike in ENS domain name demand comes around a week before the scheduled date of the Ethereum Merge, which is set for Sept. 15. Related: Ethereum Name Service registrations surge by 200% amid lower gas feesOn Sept. 4, Vitalik Buterin tweeted asked his 4.2 million followers what price tag a five-letter ENS domain name should hold over a 100-year period:What is a fair price that someone should have to pay to register and unconditionally guarantee ownership of a 5-letter .eth domain for 100 years?— vitalik.eth (@VitalikButerin) September 4, 2022
The poll found that 49.8% of the 91,130 voters went with “Under $100”, while 18.9% of voters thought “$10,000 or more” could be considered a fair price over a 100-year period. According to OpenSea, the average price of an ENS domain is 0.3207 ETH.
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ETH products grow in August as BTC products dip: CryptoCompare report
Ethereum investment products increased by 2.36% to $6.81 billion in assets under management (AUM) throughout August, outperforming Bitcoin products which saw a 7.16% drop off to $17.4 billion. The figures were contained in a new report by CryptoCompare. This was also reflected in the Bitcoin (BTC) and Ethereum (ETH)-product trading volumes, with Grayscale’s most notable Bitcoin product, GBTC experiencing a 24.4% drop in volume, while its Ethereum product, GETH actually increased 23.2%. CryptoCompare’s report suggeste the highly anticipated Ethereum Merge was the cause behind the change in trading volumes: Indeed, even at a more granular level, no Bitcoin products covered in this report saw AUM or volume gains in the month of August. We could be seeing interest move away from Bitcoin in the short term, as Ethereum-based products hold the attention with the much-anticipated merge on the horizon.Monthly AUM figures for digital asset investment products fell 4% overall, which was largely attributed to 6% fall from Grayscale’s GBTC product, as it accounts for $13.4 billion of the total $25.8 billion of digital assets under management (53.4%).The largest inflows came from products falling under the “Other” umbrella, representing non-Bitcoin and Ethereum products, which saw a 12.3% increase to $1.13 billion over the first three weeks, according to the report.Monthly AUM figures for digital asset investment products have steadily dropped throughout the bear market. Source: Crypto Compare.Despite the bear market, a number of highly-regarded financial institutions have launched crypto investment products throughout the month of August. These products have come in the form of Exchange Traded Funds (ETFs), Exchange Traded Certificates (ETC), Exchange Traded Notes (ETN) and Trust products.Among the most notable was BlackRock’s private spot Bitcoin Trust, a move which brought about a “here comes Wall Street” response from former Grayscale CEO Barry Silbert. The launch of the Bitcoin Trust from the world’s largest asset manager came following its partnership with Coinbase to provide its clients with institutional trading services.Charles Schwab was another financial institution to make a play this month, having launched its own “Schwab Crypto Thematic ETF”, tickered STCE on the New York Stock Exchange, which provides exposure to a mix of mining and staking companies, along with several blockchain-based applications. Related: Institutions flocking to Ethereum for 7 straight weeks as Merge nears: ReportBetaShares launched Australia’s first Metaverse-focused ETF on the Australian Stock Exchange (ASX), along with a new Metaverse and nonfungible token (NFT) focused ETF launched by finance firm SoFi.
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USDC’s ‘real volume’ flips Tether on Ethereum as total supply hits 55.9B
USD Coin is taking a run at the title of the top stablecoin in crypto after its daily ‘real volume’ on the Ethereum network doubled that of Tether’s USDT on Tuesday. According to crypto market data tool Messari, Circle’s USDC posted $1.1 billion in daily real volume on the Ethereum network on June 21, which was double USDT’s real volume of $579 million.Messari’s real volume metric is calculated by compiling data only from exchanges that it believes have “significant and legitimate crypto trading volumes” and thus differs to the more-commonly seen “total volume” metric. Exchanges included in Messari’s Real Volume metric include Binance, Bitfinex, Bitflyer, Bitstamp, Bittrex, Coinbase Pro, Gemini, itBit, Kraken, Poloniex, and those tracked on OnChainFX.24 hr Real Volume for USDT on Ethereum. MessariUSDC supply gaining groundTether’s circulating supply has continued to fall since its all-time high on May 11, dropping nearly 20% from 83.1 billion coins in circulation to an eight-month low of 67.9 billion as of the time of writing. USDC on the other hand has seen its supply increase 13% since May 11 to 55.9 billion. If the trends continue, it could spell the end of Tether’s dominance in the stablecoin space.The collapse of layer-1 blockchain Terra and possible contagion from the fall of crypto lending platform Celsius have caused doubt among investors, made worse by a market crash in recent weeks. Redemptions in Tether have increased significantly in the aftermath, leading to a drop in supply. Tether has been attempting to shore up confidence in its stablecoin – including stating on June 13 that the ongoing calamities in the crypto market involving Terra and Celsius will not have any impact on its reserves. Despite this, investors appear to be migrating to USDC.USDC supply is catching up to USDT. CoinGeckoMessari’s real volume metric does not tell the whole story of course. Across all blockchains and exchanges, CoinGecko shows USDT daily volume still tops the charts at $44 billion compared to USDC’s $5 billion. However it is not known how much of the volume is due to USDT being employed in wash trading to either inflate the numbers for coins or exchanges, which is why the imperfect real volume metric was developed. Related: Record stablecoin market share points to crypto upside: JPMorganIn an effort to combat the ongoing redemptions and doubts about the composition of its reserves Tether CTO Paolo Ardoino told Euromoney on June 15 that his firm plans on getting a proper audit from a top-12 auditing firm. While he would like to have one of the top four firms perform the audit, Ardoino said, “The big four are a bit more cautious about providing a full suit when the rules are not clear,” around stablecoins.
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OpenSea trading volume set for record month despite crypto market retreat
The world’s leading NFT marketplace OpenSea is poised to break its own record for monthly sales on Ethereum as daily volumes are surging.OpenSea’s $2.1 billion in trading volume of nonfungible tokens (NFT) through Jan. 10 is more than half the total trading volume for the entirety of August 2021, the highest month on record. Volume reached nearly $3.5 billion in that month, according to Dune Analytics.The marketplace is currently on pace to top $6 billion in trading volume for January should the current trend continue.Current trading volume on OpenSea has been driven by the new PhantaBear collection, which recorded 17,124.79 ETH ($53 million) in sales over the past seven days. Bored Ape Yacht Club is a close second place with 16,657.78 ($51.5 million). Jay Chou YYDS pic.twitter.com/LbhAjIRmzv— Ezek (@EzekClub) January 10, 2022Aggregated data from CryptoSlam shows the Doodles collection as the leader in sales across all NFT marketplaces, with nearly $56 million in sales over the past seven days. It currently ranks third in trading volume on OpenSea.Other key factors contributing to the record pace for OpenSea according to Dune include the number of active users, which at 260,369 is rapidly approaching the all-time high of 362,679 tallied last month. OpenSea has shown that there is still a tremendous amount of room to fill for NFT marketplaces, as trading volumes have remained high for over six months straight and surpassed $4 billion globally over the past 30 days. In light of that, alternative marketplaces such as the new LooksRare (LOOKS) and Solana’s Magic Eden intend to siphon off at least a portion of OpenSea’s volume.Related: OpenSea raises $300M for encrypted digital marketplaceThe NFT markets have experienced a veritable resurgence in interest since the beginning of the new year. Volumes across all platforms tracked by NFT market data source NonFungible show a steady increase since Jan. 1 when total daily sales reached nearly 15,671 items. Between Jan. 7 and 8, sales spiked up from 13,189 to 36,041 NFTs. Daily sales hit a monthly high of 29,921 NFTs on Jan. 10.
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