August 13, 2022

Crypto Flipsider News – Unspent Miner Rewards Near ATH, Terra Becomes 2nd Biggest DeFi Network, VC Invests $30 Billion, BIS Calls for Global Regulation, Grim Finance $30M Hack, Polkadot’s Parachain Launch

Read in the Digest

  • miners unspent supply nears ATH, Peter Brandt’s BTC prediction.
  • is now the second biggest DeFi ecosystem.
  • Crypto VC investments exceed $30 billion in 2021, BIS exec calls for global regulation in 2022.
  • Grim Finance suffers $30 million hack, Rugpulls account for 37% of scams.
  • Parachains officially launch on the network.

Bitcoin Miners Unspent Supply Nears ATH, Peter Brandt’s BTC Prediction

The five weeks since Bitcoin set a new all-time high of $68.7k have been less than ideal, with crypto markets being put under bearish pressure. However, despite the continuous downtrend, the unspent coins issued to miners is now just 500 BTC below the ATH of 1.778 BTC.

According to analysis, the number of unspent miners’ BTC started growing in March 2020, and since then, miners have been HODLing, expecting the price of Bitcoin to continue rallying.

Flipsider:

  • Trading legend, Peter Brandt, shares a temporary deferring view, believing that Bitcoin could decline even further.
  • According to Brandt, Bitcoin’s current price action suggests that it is yet to reach the bottom of its correction due to an infinitesimal trading volume.

Why You Should Care

Regardless of Bitcoin’s current price action, the strong holding sentiment held by investors is a…

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