Trending Tokens on BTSE:
(as of 11:00 AM Singapore Time, August 31, 2023)
As Thursday morning begins across Asia, large market cap cryptocurrencies experienced some minor pushback. This follows the strong uptick in the price level of these tokens, which many analysts attribute to Grayscale’s victory in court against the SEC. Both Bitcoin (BTC) and Ethereum (ETH) remained strong above their post-Grayscale victory levels of $27K and $1.7K respectively, despite minor slides of less than 1 percentage point each.
Overnight, in a report released by Arkham Holdings, crypto-friendly trading service Robinhood was reported to have the fifth-largest Ethereum wallet, amounting to a colossal $2.54 billion of Ethereum. This follows Arkham Holdings’ widely covered recent report of the same company’s holding of the 3rd-largest Bitcoin wallet. The funds have been confirmed by Arkham to be user holdings.
In other news, bankrupt crypto lender BlockFi has requested permission to swap its trade-only assets, including Algorand, Bitcoin Cash, and Dogecoin, for the Gemini Dollar stablecoin. The aim is to make these assets available for withdrawal, which is currently hindered by practical issues related to their digital nature. The request has garnered support from BlockFi’s unsecured creditors’ committee and follows recent efforts to enable withdrawals on the platform after the company’s declaration of bankruptcy. This move is part of BlockFi’s response to challenges posed by its prior SEC penalty and the aftermath of the FTX collapse.
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