Billions Of Dollars Tokenized Bitcoin Moved To Ethereum, BSC, And Solana

More than 70% of all tokenized Bitcoin, worth over $4.3 billion, have been transferred to Ethereum, according to data from Cryptoflows. This migration highlights a growing trend of utilizing Bitcoin within Ethereum's decentralized finance (DeFi) ecosystem and other interesting areas.

Timeline of Bowscoin, Bitcoin, Ethereum, Solana

Ethereum Price Analysis: Amid the increasing indecisiveness in the crypto market, the Ethereum price has been in a sideways trend between $1827 and $1790. The coin prices show attempts to breach the aforementioned two levels indicating a narrow range formation in the daily chart.

The issuer of the world's largest stablecoin, Tether, has announced the firm's plans to allocate some of its profits to buy Bitcoin. According to a recent statement, Tether is allocating up to 15% of the realized profit from investments to purchase Bitcoin.

Nikolaos Panigirtzoglou – a global market strategist with JPMorgan, one of the biggest finance giants in the world – recently gave his thoughts on why bitcoin and several other digital currencies are up so high since the beginning of the year.

Crypto News: As part of a new investment strategy centered around the world's largest cryptocurrency by market value, stablecoin issuer Tether stated on Wednesday that it would begin regularly purchasing Bitcoin (BTC) for its stablecoin reserves using a percentage of its profits beginning this month. Tether To Invest Upto 15% Of Its Profits Tether has

Credible, a well-known crypto strategist with a large following, shared his bullish outlook on Ethereum (ETH) and the broader altcoin markets in a recent Twitter update. Credible anticipates an impending rally in ETH but anticipates a significant retracement afterwards.

Bitcoin fell below the $27,000 level on May 17, as market uncertainty remained high amidst the debt ceiling crisis in the United States. Congress continues to negotiate terms of a potential increase to the limit, before the U.S. government runs out of cash on June 1. Ethereum also dropped, breaking out of the $1,800 level.

Bitcoin ($BTC) adoption has accelerated in recent months, with the total number of unique addresses holding at least one BTC surpassing one million for the first time. According to blockchain data shared by analysis firm Glassnode, this record was set on May 12, indicating increased interest in the flagship cryptocurrency and ongoing accumulation.

Over the past five days, the Bitcoin price has been wobbling in a narrow range of $27300-$26700, creating a sense of uncertainty in the crypto market. During this period, the coin price showed failed attempts to breach the range barriers reflecting the traders' lack of commitment on either side.

Renowned analyst James Altucher shares his valuable insights on the latest trends and developments in the Bitcoin space. From the behavior of whales to Bitcoin options, Altucher provides a comprehensive analysis of the market's potential direction.

In a significant development for the Bitcoin community, Lightning Labs has released an updated edition of the Taproot Assets Protocol, promising a more efficient approach to minting new assets on the blockchain.