90% of Ethereum Now in Self-Custody As Supply on Exchanges Hits Lowest Level Since 2015
Ethereum's total supply has dropped by over 66,000 ETH since the start of 2023, making it deflationary, as the latest Shanghai upgrade progresses. Currently, just 10.31% of existing ETH is on exchanges, the lowest level since July 2015, according to on-chain analytics provider Santiment. Almost 90% of Ethereum is now off exchanges, as regulators struggle to classify ETH as a security or commodity. The amount of ETH being held in self-custody and away from exchanges is at its highest level since the token was introduced nearly eight years ago, indicating confidence from hodlers.
Cointime News Wrapup-Afternoon Version: Montenegro to Hold Terra-Luna Fugitive Do Kwon for 30 Days, Says Yonhap News
Do Kwon will be held in Montenegro for a month on charges of using forged travel documents, according to local prosecutor Haris Shabotich.
Ethereum Co-Founder Says Crypto Ecosystem Has Never Been Better or Stronger
Ethereum co-founder Joseph Lubin believes that the strength of the crypto ecosystem "has never been better or stronger," and that "more clarity" from regulators would be helpful for the crypto industry. He believes that the industry has suffered from having two major factions lumped into one: the money-crypto faction and the tech-crypto faction. Lubin also discussed whether ether is a security, stating that he doesn't think there's any point in speculating on something that is extremely unlikely, but arguing that people buy barrels of oil with the expectation of profit. There are differing opinions among US regulators about whether ether should be classified as a security or a commodity. (Bitcoin.com)
OpenSea Sees a Slump in Ethereum and Polygon NFT Sales; Details Inside
Sales figures for Ethereum and Polygon-based non-fungible tokens (NFTs) on OpenSea are on track to register the lowest monthly volume of the year so far, according to data from Dune Analytics. Ethereum-based NFT sales on the marketplace have declined by 50% in March, while sales of Polygon-based NFTs have experienced a staggering 97% drop in sales volume. OpenSea's dominance in the NFT marketplace has also declined, with a 98% drop in unique active wallets and a 99% decline in transaction count over the past 90 days. This is attributed to the launch of Blur, which has gained significant traction since its launch in October 2022. (ambcrypto)
Crypto Morning Briefing: Justin Sun’s US Fraud Charges Could Hamper Huobi’s License Application in Hong Kong
CFTC Sues Binance and CEO for Violating Trading Rules, Bitcoin and Ethereum Prices Dip; Binance Continues Global Expansion With New ‘Web3 Outpost’ in Georgia; Dogecoin To Get Upgrade Release Packed With New Features and Enhancements
Solana-Based Derivatives Protocol Cega Raises $5 Million To Expand on Ethereum
Cega, a DeFi derivatives protocol focused on exotic options, raised $5 million in a new funding round led by Dragonfly Capital that also saw participation from Pantera Capital and Robot Ventures.
CFTC Sues Binance and CEO for Violating Trading Rules, Bitcoin and Ethereum Prices Dip
On Monday, the Commodity Futures Trading Commission (CFTC) filed a lawsuit against cryptocurrency exchange Binance and its CEO, Changpeng Zhao, accusing them of violating trading and derivatives rules.
Decoding How TRON [TRX] Surpassed BTC, ETH in Active Address Count
Tron (TRX) has surpassed both Bitcoin (BTC) and Ethereum (ETH) in terms of active address count. The article notes that this is a significant milestone for the Tron network, which has been steadily growing in popularity and adoption over the past few years.
Inflows of US$160m As Investors Express Concerns for TradFi
Digital asset investment products saw inflows totalling US$160m, the largest since July 2022. A marked turnaround following 6 weeks of outflows that totalled US$408m.
