Coin Bytes Archives - Timescrypto

Long-Term Bitcoin Owners Reduce Profit-Taking in August

August has witnessed a slowing in profit-taking following a hectic July in which long-term Bitcoin holders cashed out an average of nearly $1 billion per day. Due to the fact that many participants locked in gains, July saw some of the largest selling activity by Bitcoin investors ever. August’s slower pace might indicate that holders are being more cautious or are simply watching the market’s movement. This change is worth keeping an eye on because it could portend future price movements or a period of stability for Bitcoin.

LayerZero Foundation to Acquire Stargate, Proposes Token Merger

The LayerZero Foundation recently revealed plans to acquire Stargate and bring its token economy under the LayerZero umbrella. This means all Stargate ($STG) tokens would be swapped for LayerZero’s native token ($ZRO), ending Stargate’s independent governance and rewards. The goal is to simplify cross-chain infrastructure and build a more connected ecosystem. But the news has stirred debate among the community, with many worried about how this will affect token value and the loss of staking rewards for $STG holders. It’s a big move that could reshape the DeFi landscape.

Ethereum Developer Detained in Türkiye Over Alleged Misuse of Network

An Ethereum developer has been recently detained in Izmir, Türkiye, amid accusations of assisting individuals in “misusing” the Ethereum network. The suspect, going by the name “Fede’s Intern”, has denied wrongdoing, saying he builds blockchain infrastructure, and is seeking to leave Türkiye to contest the charge from abroad.

While specific details remain scarce, this incident highlights the ongoing challenges governments face in regulating blockchain technology and digital assets. Ethereum, a leading blockchain platform, is widely used for decentralized applications, but its open nature sometimes attracts illicit activities. The case underscores the delicate balance between innovation and regulation in the rapidly evolving crypto space. More updates are expected as investigations continue.

Linked Ethereum Wallets Acquire $210 Million in ETH Through Major OTC Channels

In the past day, three wallets scooped up a massive 49,533 $ETH, worth around $210.68 million. These purchases, likely via linked wallets, came through well-known channels like Galaxy Digital OTC, BitGo, and FalconX, suggesting this wasn’t just a casual trade.

Together, the wallets now hold over 106,700 ETH, valued at roughly $460 million at current prices (~$4,314 per ETH).

What’s interesting is how this was done quietly through OTC and institutional platforms, a smart move to avoid shaking up the markets.Big, coordinated buys like this often hint at growing institutional confidence in Ethereum’s long-term potential, whether for staking, DeFi, or simply holding.

NASDAQ-listed BNC has purchased 200,000 $BNB worth $160 Million

In a bold move, NASDAQ-listed BNC just bought 200,000 $BNB worth a whopping $160 million. The move makes BNC the largest corporate holder of BNB in the world. The purchase marks a major vote of confidence in the Binance ecosystem, highlighting that corporate confidence in the tokens other than Bitcoin is rising. BNB powers everything from trading fees to DeFi and smart contracts on Binance, therefore BNC’s investment suggests they see serious long-term potential. It’s another sign that traditional finance is warming up to crypto and not just dipping toes, but diving in