U.Today – U.Today presents the three most popular fresh stories from the last day.
Satoshi will lose his crown by Halloween
Eric Balchunas, senior ETF analyst at Bloomberg, recently shared a list of the 11 largest Bitcoin holders in the world on his X page. According to the list, U.S. spot Bitcoin ETFs combined (excluding Grayscale) are about to catch up to Satoshi Nakamoto in terms of Bitcoin holdings, with 921,540 BTC; for comparison, Nakamoto’s supply is 1.1 million BTC. So U.S. spot Bitcoin ETFs now hold close to 84% of Satoshi’s Bitcoin. Balchunas believes he could lose his status as the largest holder of the flagship cryptocurrency by Halloween. Binance is second on the list after Bitcoin’s creator, and BlackRock (NYSE:) (IBIT) is third.
SHIB burn rate is decreasing. Here’s what’s happening in Shibarium
According to the latest Shibburn data, the burn rate is currently -99.62% over the past 24 hours, with only 261,691 SHIB meme coins burned. This was the only burn transfer performed yesterday, August 27. The weekly reading of this metric shows an 843% augment, with 114,255,785 SHIB tokens transferred to unusable wallets over the past seven days. Things are also slowing down on Shibarium, a layer 2 solution; after the implementation of the latest update, SHIB burn directly correlates with transaction activity on SHIB’s internal ledger. The number of daily transactions on Shibarium has declined over the past week, dropping from 28,680 on August 20 to 3,370 on August 23, a drop of over 88%. According to Shibariumscan, this metric has been trading in roughly the same range since then.
Bitcoin Sees Epic 7023% Imbalance in Bullish Liquidations
Bullish traders have been hit hardest by the recent wave of liquidations in the Bitcoin market. According to CoinGlass, over $3 million in long positions were liquidated in just one hour, while miniature liquidations amounted to just $51,000. As this massive 7,023% imbalance shows, the market is currently bearish. One factor driving the wave of liquidations was a 0.6% decline in Bitcoin’s price over the same period. This decline comes after a 3.7% decline since the beginning of the week, which is adding to the pain for bullish traders. In lightweight of these significant liquidations, we wonder if this signals the end of Bitcoin’s current rally, or if the market is simply going through a normal correction. At the time of writing, Bitcoin is trading at $58,848, down 4.41% over the past 24 hours, according to CoinMarketCap.
