- Two of the top BTC buyers face off on Twitter
- DeFi has pushed daily transactions on Ethereum to an all-time high
- Market dynamics indicate that volatility could reach a peak point next week
Ethereum News Today – there is currently a social media face-off between to top personalities in the cryptocurrency sector. Two Bitcoin investors face off on Twitter. The CEO of MicroStrategy Michael Saylor first made a tweet on Tuesday, September 22 that his firm has finally completed the purchase of a whopping 21,454 BTC. This figure amounts to 0.1% of the total supply of Bitcoin.
This announcement prompted another big Bitcoin investor to tweet in retaliation. The CEO and founder of Grayscale, Barry Silbert, made a tweeted joke calling the situation a buying race between the two entities. Grayscale Investments, however, has had a big head start. Back in April 2020, the firm accumulated over 1.7% of Bitcoin’s total supply. The company was later said to have acquired a total of 1,190 BTC daily.
DeFi Drives the Daily Transactions on Ethereum to All-time High
The Ethereum network has reportedly recorded the highest number of transactions per day ever. This is according to data given by Etherscan. The move is reportedly driven by the recent popularity of DeFi (decentralized finance) apps (with the sum of value in DeFi applications now hitting a new all-time high). This value is on the road to $10 billion. Meanwhile, a major competitor NEO has continued its multi-week winning run. The so-called “Chinese Ethereum” is already showing double-digit gains as traders wait to see the launch of the multi-chain yield farming application, Flamincome. The app is scheduled for release on September 23. It will allow cryptocurrency traders to farm yield across Ethereum and NEO simultaneously.
Market Volatility Could be Triggered in the Coming Week
Reports show that in the coming week, the market volatility could rise. Experts believe that this wave of volatility could be triggered by the rising tensions between China and it’s neighbors Taiwan and Indonesia. The ongoing territorial grievances have come to the surface as the United States ups the antenna in the battle for control of the tech sector regulation. This past Friday, cryptocurrency traders will have to deal with the issue of the expiry of a huge batch of BTC options contracts.
According to data provided by Skew, the total number of open contracts is now at an all-time high. Among the current figure more than half of them will expire this Friday, September 25. Experts have predicted that this situation could spark a sudden shift as a huge number of traders will try to reposition themselves in the market.