Ethereum price

Ethereum ICO-era whale address transfers 145,000 ETH weeks before the Merge

The amount of ETH transferred just a month before the Merge has generated community curiosity, with some claiming it’ll be dumped while others say it’s for staking.

An Ethereum whale wallet that participated in the genesis initial coin offering (ICO) and obtained about 150,000 Ether (ETH) in 2014 was activated again on Aug. 14 after three years of dormancy.

The whale address transferred 145,000 ETH to multiple wallets as the price of Ether surged to a new three-month high of over $2,000. The transfers were made in batches of 5,000 ETH, with a few transfers of over 10,000 ETH. The total value of the transferred Ether is over $280 million, and the wallet address currently has a balance of 0.107 ETH.

Ethereum ICO-era wallet transactions. Source: Etherscan

The 145,000 ETH transfer was only the second time the whale wallet has been activated since the ICO, the first being in July 2019 when it sent 5,000 ETH to the exchange Bitfinex while Ether was trading at $219, with the transaction valued at just over a million dollars.

The movement of such a high amount of ETH attracted community attention, with many claiming it could be dumped before the Merge — the official transition of the current proof-of-work-based blockchain to a  proof-of-stake one. However, it is important to note that most transactions are to unknown wallets rather than an exchange.

Even if the whale eventually decides to dump their 145,000 ETH, a $250-million selling pressure isn’t considered significant enough to initiate a market dump. A few others believe that the whale might be trying to stake their ETH to become a validator on the PoS network and generate passive income.

Ethereum’s transition to a proof-of-stake network is slated for Sept. 15, following the successful merge of the Goerli testnet to the Beacon Chain (the PoS chain activated in 2020), the final rehearsal before the official transition.

Related: 3 cryptocurrencies that stand to outperform ETH price thanks to Ethereum’s Merge

The Merge is considered one of the most significant upgrades since Ethereum’s inception in 2015. The three-phase transition process began in 2020, and after several delays and testnet integrations, Ethereum is all set to officially transition to PoS in the third week of September.

Bitcoin hits $25K as bearish voices call BTC price ‘double top’

A casual dash over the $25,000 mark is fully retraced as weekend trading produces some classic volatility.

Bitcoin (BTC) spiked through $25,000 for the first time in months on Aug. 14, but traders refused to take any chances on a bull run.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView

Weekend produces brief $25,000 tap for BTC

Data from Cointelegraph Markets Pro and TradingView tracked a sudden run-up on BTC/USD, which hit $25,050 on Bitstamp in a $350 hourly candle.

The move took the pair to a new personal best since June 13, erasing more of the losses seen that day in what remains a significant BTC price correction.

Analyzing the market setup, however, familiar bearish tones remained. 

For popular Twitter account Il Capo of Crypto, the latest highs appeared to provide the last piece of the puzzle before a new downtrend set in.

Il Capo had previously called for a peak of $25,000-$25,500 before Bitcoin changed direction to head lower.

“$25k reached but no bearish signs yet on ltf,” it added in a subsequent post.

“We could see another leg up to 25400-25500, but imo the top of this bear market rally is very close. Most altcoins are reaching major resistances.”

Cautious too was fellow trader Crypto Tony, who demanded Bitcoin flip its multi-month range resistance at $24,500 to support to consider long positions.

Others were hopeful of trend continuation, including Dave the wave, who eyed encouraging signs on Bitcoin’s moving average convergence divergence (MACD) indicator as proof.

A classic trend indicator, MACD allows traders to measure the strength of a particular chart trend, giving buy and sell signals over multiple timeframes in the process.

“Plenty of upward pressure building at a level of resistance,” he summarized on the day.

“Weekly MACD about to cross from an over-sold position well below the zero-line. Bullish.”

BTC/USD annotated chart with MACD. Source: Dave the wave/ Twitter

Ethereum double down on $2,000

A more modest spike meanwhile played out for largest altcoin Ethere (ETH), which managed $2,030 on the day. 

Related: Bitcoin traders still favor new $20K lows as Ethereum hits $2K

After passing the $2,000 mark for the first time since May earlier in the weekend, ETH/USD appeared to be in consolidatory mode with no significant momentum continuing.

ETH/USD 1-hour candle chart (Binance). Source: TradingView

Looking forward, however, there were plenty of traders willing to bet on bullish times ahead.

“We continue to follow the structure of the last cycle perfectly and most people are still in disbelief. $5.000 Dollar (+) for $ETH isn’t just a meme,” Moustache argued alongside a comparative chart of Ethereum now versus 2016-17,

Should a retracement set in, meanwhile, Jackis eyed old resistance on the ETH/BTC pair as an entry point.

ETH/USD still circled $2,000 at the time of writing, with ETH/BTC hitting 8-month highs.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Bitcoin hits $25K as bearish voices call BTC price ‘double top’

A casual dash over the $25,000 mark is fully retraced as weekend trading produces some classic volatility.

Bitcoin (BTC) spiked through to $25,000 for the first time in months on Aug. 14, but traders refused to take any chances on a bull run.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView

Weekend produces brief $25,000 tap for BTC

Data from Cointelegraph Markets Pro and TradingView tracked a sudden run-up on BTC/USD, which hit $25,050 on Bitstamp in a $350 hourly candle.

The move took the pair to a new personal best since June 13, erasing more of the losses seen that day in what remains a significant BTC price correction.

Analyzing the market setup, however, familiar bearish tones remained. 

For popular Twitter account Il Capo of Crypto, the latest highs appeared to provide the last piece of the puzzle before a new downtrend set in.

Il Capo had previously called for a peak of $25,000-$25,500 before Bitcoin changed direction to head lower.

“$25k reached but no bearish signs yet on ltf,” they added in a subsequent post.

“We could see another leg up to 25400-25500, but imo the top of this bear market rally is very close. Most altcoins are reaching major resistances.”

Cautious, too, was fellow trader Crypto Tony, who demanded Bitcoin flip its multi-month range resistance at $24,500 to support to consider long positions.

Others were hopeful of trend continuation, including Dave the wave, who eyed encouraging signs on Bitcoin’s moving average convergence divergence (MACD) indicator as proof.

A classic trend indicator, MACD allows traders to measure the strength of a particular chart trend, giving buy and sell signals over multiple timeframes in the process.

“Plenty of upward pressure building at a level of resistance,” he summarized on the day:

“Weekly MACD about to cross from an over-sold position well below the zero-line. Bullish.”

BTC/USD annotated chart with MACD. Source: Dave the wave/ Twitter

Ether double down on $2,000

A more modest spike meanwhile played out for the largest altcoin Ether (ETH), which managed $2,030 on the day. 

Related: Bitcoin traders still favor new $20K lows as Ethereum hits $2K

After passing the $2,000 mark for the first time since May earlier in the weekend, ETH/USD appeared to be in consolidatory mode with no significant momentum continuing.

ETH/USD 1-hour candle chart (Binance). Source: TradingView

Looking forward, however, there were plenty of traders willing to bet on bullish times ahead.

“We continue to follow the structure of the last cycle perfectly and most people are still in disbelief. $5.000 Dollar (+) for $ETH isn’t just a meme,” Moustache argued alongside a comparative chart of Ethereum now versus 2016-17.

Should a retracement set in, meanwhile, Jackis eyed old resistance on the ETH/BTC pair as an entry point.

ETH/USD still circled $2,000 at the time of writing, with ETH/BTC hitting 8-month highs.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Bitcoin traders still favor new $20K lows as Ethereum hits $2K

It is high time for a deeper retracement on the “relief” rally in Bitcoin, say commentators, but upside targets of $28,000 stay on the table.

Bitcoin (BTC) is still due to return to near $20,000, fresh analysis warns as BTC/USD attempts to retest multi-month highs. 

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView

Buy-the-dip set for invalidation at $20,700

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD staging a second run-up to near $25,000 on Aug. 13, so far seeing rejection.

The pair had gained over $1,300 overnight, but as bulls again ran out of momentum near crucial resistance, few were optimistic over Bitcoin avoiding a deeper comedown.

“One last high to rekt early shorts,” popular trading account Il Capo of Crypto told Twitter followers.

Similarly cautious was fellow trader Jibon, who said that he would even prefer to wait and “buy higher” than spot price to rule out any trend reversals.

More bullish was trading account Credible Crypto, who argued that any corrections would still be bullish unless $20,700 was broken.

“Relief went a big higher than expected but looks like a liq grab of local highs and still think a move down to green before continuation to 28k+ makes most sense,” he commented on an accompanying chart.

“Cleaned up the chart a bit to make things more clear. Invalidation at 20.7k until then bullish af on any dips.”

BTC/USD annotated chart. Source: Credible Crypto/ Twitter

“Targeting high 20s of $27,000 – $28,000 as long as we remain above the range high,” Crypto Tony added, continuing a strategy from earlier in the week with $24,500 a key support level.

Ethereum returns to $2,000 after 11-week hiatus

On altcoins, meanwhile, it was Ether (ETH) in the driving seat after an overnight surge took ETH/USD above $2,000 for the first time since May.

Related: Crypto markets bounced and sentiment improved, but retail has yet to FOMO

At $2,020 so far, the pair achieved its best performance since May 23, seeking to consolidate near the highs at the time of writing. 

ETH/USD 1-day candle chart (Binance). Source: TradingView

While on-chain analyst Material Scientist alluded to the worst being yet to come for ETH bulls, Ethereum’s crypto market cap share nonetheless crossed 20%, while Bitcoin’s fell under 40%, according to data from CoinMarketCap.

Bitcoin dominance 1-week candle chart. Source: TradingView

As Cointelegraph reported, a dedicated indicator already called the start of “alt season” with a stronger signal than at any time since June 2021 this month.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Bitcoin traders still favor new $20K lows as Ether hits $2K

It is high time for a deeper retracement on the “relief” rally in Bitcoin, say commentators, but upside targets of $28,000 stay on the table.

Bitcoin (BTC) is still due to return to near $20,000, fresh analysis warns as BTC/USD attempts to retest multi-month highs. 

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView

Buy-the-dip set for invalidation at $20,700

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD staging a second run-up to near $25,000 on Aug. 13, so far seeing rejection.

The pair had gained over $1,300 overnight, but as bulls again ran out of momentum near crucial resistance, few were optimistic over Bitcoin avoiding a deeper comedown.

“One last high to rekt early shorts,” popular trading account Il Capo of Crypto told Twitter followers.

Similarly cautious was fellow trader Jibon, who said that he would even prefer to wait and “buy higher” than spot price to rule out any trend reversals.

More bullish was trading account Credible Crypto, who argued that any corrections would still be bullish unless $20,700 was broken.

“Relief went a big higher than expected but looks like a liq grab of local highs and still think a move down to green before continuation to 28k+ makes most sense,” he commented on an accompanying chart:

“Cleaned up the chart a bit to make things more clear. Invalidation at 20.7k until then bullish af on any dips.”

BTC/USD annotated chart. Source: Credible Crypto/ Twitter

“Targeting high 20s of $27,000 – $28,000 as long as we remain above the range high,” Crypto Tony added, continuing a strategy from earlier in the week with $24,500 a key support level.

Ethereum returns to $2,000 after 11-week hiatus

On altcoins, meanwhile, it was Ether (ETH) in the driving seat after an overnight surge took ETH/USD above $2,000 for the first time since May.

Related: Crypto markets bounced and sentiment improved, but retail has yet to FOMO

At $2,020 so far, the pair achieved its best performance since May 23, seeking to consolidate near the highs at the time of writing. 

ETH/USD 1-day candle chart (Binance). Source: TradingView

While on-chain analyst Material Scientist alluded to the worst being yet to come for ETH bulls, Ether’s crypto market cap share nonetheless crossed 20%, while Bitcoin’s fell under 40%, according to data from CoinMarketCap.

Bitcoin dominance 1-week candle chart. Source: TradingView

As Cointelegraph reported, a dedicated indicator already called the start of alt season with a stronger signal than at any time since June 2021 this month.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Fallout from crypto contagion subsides but no market reversal just yet

With some areas of the blockchain space showing signs of a potential bottom, July showed that the market remains in a cautionary state.

The blockchain industry showed some surprising resilience in July, which may point to a period of greater fundamental support for the crypto space overall in the short term. In looking at a wide variety of indicators, including Bitcoin’s (BTC) price action, open interest on Ether (ETH) and activity in GameFi, there are some strong signals to suggest that a bullish sentiment is returning to this space.

Smooth sailing from now on is not a given, though. Cointelegraph Research’s latest Investor Insights analyzes key indicators from different sectors of the blockchain industry to navigate those potentially treacherous crypto waters. In the latest edition, Cointelegraph Research’s bearish-to-bullish index was a level C indicating a short-term cautionary time. While there are still mixed signals, the overall sentiment was leaning toward the bulls for July.

Download and purchase this report on the Cointelegraph Research Terminal.

Bitcoin and Ether show signs of strength

Bitcoin closed July up 16.6% since the start of the month, a gain not seen since October 2021. BTC continues to range with a level of resistance around $24,000; however, the repeated approach and rejection are likely to break at some point if factors change, such as positive economic growth reports from the United States and elsewhere. At the same time, Ethereum saw an all-time high of unique active wallet addresses, 48% higher than previous records. Both indicators are bullish for the blockchain space.

GameFi shows signs of life

The GameFi sector has been on a decline since the large market crash in the first half of 2022. However, July saw a 4.7% jump in new users across all of GameFi compared to June. Some highlights from this sector include the sale of digital real estate and the sale of a Genesis Land plot, which went for 550 Wrapped Ether (wETH). Nonfungible tokens (NFTs) that were part of the GameFi sector made up more than 36% of the $976 million of total NFTs value sold in July. This helps to paint the picture of activity and strength returning to some segments of the market.

Venture capital investment decline

The venture capital investment totals have been on a decline for the past few months; however, July saw capital inflows down 43% from June, to around $1.9 billion. This suggests that what can be perceived as a bearish sentiment at first glance may warrant a pulled-back wider view.

The reason is that these are levels of capital investment in the blockchain industry that have not been seen since the start of the 2021 bull run. This is also likely to subside moving through the second half of 2022 and into 2023, as the crypto contagion of failing blockchain companies seems to have fully played out.

The Cointelegraph Research team

Cointelegraph’s Research department comprises some of the best talents in the blockchain industry. Bringing together academic rigor and filtered through practical, hard-won experience, the researchers on the team are committed to bringing the most accurate, insightful content available on the market.

Demelza Hays, Ph.D., is the director of research at Cointelegraph. Hays has compiled a team of subject matter experts from across the fields of finance, economics and technology to bring to the market the premier source for industry reports and insightful analysis. The team utilizes APIs from a variety of sources in order to provide accurate, useful information and analysis.

With decades of combined experience in traditional finance, business, engineering, technology and research, the Cointelegraph Research team is perfectly positioned to put its combined talents to proper use with the Investor Insights Report.

Disclaimer: The opinions expressed in the article are for general informational purposes only and are not intended to provide specific advice or recommendations for any individual or on any specific security or investment product.

Ethereum whale transactions peak at 2-month high amid Goerli testnet merger

ETH price reached a new 2-month high of $1,919 as institutional inflows saw seven straight weeks of inflows even when Bitcoin has seen a net outflow in the same period.

The Goerli testnet was successfully merged to the proof-of-stake (PoS) network, marking the final step before Ethereum’s mainnet transition. The triumphant final testnet merger means the mainnet transition slated for Sept. 19 could go as scheduled.

Goerli is the third and final testnet after Ropsten and Sepolia that makes Ethereum’s final rehearsal before its official transition to the PoS network.

The PoS Merge is considered to be one of the most significant updates for the Ethereum blockchain since its inception, and the bullish sentiment behind the event has started to reflect on the altcoin’s price. The native token Ether (ETH) has more than doubled its price since bottoming at $885 in June 2022.

ETH price surged over $1,919 on Thursday along with the rest of the crypto market after the government released consumer price index data, which turned out to be lower than expected.

ETH outperformed Bitcoin (BTC) in terms of daily gains registering a double-digit surge. Data from crypto analytic firm Santiment revealed that the price momentum was aided by whale transactions valued at $100,000 or more. The increase in whale transactions comes amid a growing accumulation of whales.

ETH Whale Transactions Reach Two-Month High Source: Santiment

ETH also registered a recent uptick in capital inflows into Ethereum-based institutional investment funds. These institutional products attracted $16.3 million from investors in the week ending Aug. 5. Similar funds for Bitcoin witnessed capital outflows worth $8.5 million in the same period, suggesting a growing bullish sentiment among institutional investors.

Related: 3 signs Ethereum price is on track toward $2.5K by September

With the mainnet merger just over a month away, ETH price is seeing a bullish momentum with leading crypto platforms putting their weight behind the Merge. The market seems to be deploying “buy the rumor sell the news” where the ETH price has started to surge in anticipation of a successful transition and could see a substantial price correction after the upgrade in September when traders potentially begin to “sell the news.”

Institutions flocking to Ethereum for 7 straight weeks as Merge nears: Report

“Greater clarity” around the Merge has driven institutional inflows into Ethereum products, according to a CoinShares report.

Institutional investors are piling into Ether- (ETH)-based digital asset funds, which have recorded seven straight weeks of positive inflows, according to the latest CoinShares report. 

Said inflows reached $16.3 million last week, adding to a total of $159 million in inflows over the last seven weeks.

CoinShares Head of Research James Butterfill on Monday said the rise in market sentiment for Ethereum-focused products is largely due to “greater clarity” relating to the upcoming Merge, which is set for Sep. 19, with Butterfill stating: 

“We believe this turn-around in investor sentiment is due to greater clarity on the timing of The Merge where Ethereum shifts from proof-of-work to proof-of-stake.”

The Merge will see the Ethereum mainnet merge with the Ethereum 2.0 Beacon Chain, which will complete the transition from proof-of-work (PoW) to a proof-of-stake (PoS) consensus mechanism. The PoS consensus mechanism is expected to make Ethereum more secure, energy efficient and environmentally friendly.

The Goerli and Prater testnet merge is also expected to take place this week, which will be the last scheduled dress rehearsal before the mainnet Merge takes place in less than six weeks’ time.

Traders gearing up

Blockchain analytics firm Glassnode suggested that the highly-anticipated Merge has crypto traders gearing up to “buy the rumor, and sell the news:”

“Derivatives traders are placing directionally obvious bets for Ethereum, specifically relating to the upcoming Merge planned on 19 September.”

In a newsletter titled “Betting on the Merge” on Monday, the analytics firm noted that post-Merge, the ETH options and futures market is positioned in “backwardation” — a situation in which the current price of an asset is higher than the prices trading in the futures market.

“Both futures and options markets are in backwardation after September, suggesting traders are expecting the Merge to be a ’buy the rumor, sell the news’ style event, and have positioned accordingly,” said the firm.

Related: Ethereum options data show pro traders ready to go long into ETH’s Merge

However, the jury is still out as to how the Merge will ultimately affect Ether’s price. In a recent interview, Ethereum founder Vitalik Buterin remained optimistic about ETH’s long-term prospects, saying that the narrative will likely remain positive post-Merge — an aspect that hasn’t yet been priced in:

“Once the merge actually happens then I expect morale is going to go way up. I basically expect that the merge is going to be not priced in, by which I mean not even just market terms, but even psychological and narrative terms. In narrative terms, I think it’s not going to be priced in pretty much until after it happens.”

The price of Ethereum is $1,776 at the time of writing, up 8.6% over the last seven days, according to data from CoinGecko. 

Bitcoin price reaches $23.4K on 4.6% gains amid ‘very mixed’ outlook

A push toward the top of the intraday trading range places Bitcoin in line for a bull flag on daily timeframes.

Bitcoin (BTC) rebounded overnight into Aug. 5 as a fresh trendline reclaim opened the door to further gains.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView

Daily BTC price chart sets up “tentative” long signal

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD bouncing off a local bottom at $22,400 to add around 4.6%.

The pair had reversed direction right at key bid support on major exchange Binance, this helping avoid a more substantial loss of the 200-week moving average (MA) at around $22,800.

While that key zone remained uncertain for bulls, a reclaim of the 21-period MA on the daily chart gave on-chain analytics resource Material Indicators cause for optimism.

BTC/USD might not spark a long signal at the daily candle close, it told Twitter followers overnight.

Trader and analyst Rekt Capital nonetheless voiced ongoing caution over Bitcoin’s poor record at turning the 200-week MA into solid support for this bear market.

“Historically, BTC has been able to generate tremendous buy-side interest at the 200-week MA,” he argued:

“But if $BTC fails to retest the MA in the short-term, that would probably serve as further evidence that this recovery is merely one of relief.”

BTC/USD 1-week candle chart (Bitstamp) with 200-week MA. Source: TradingView

Similarly conservative in its price outlook was trading firm QCP Capital, which in its latest market update sent to Telegram channel subscribers that the overall picture was “very mixed.”

Pointing to complex macro triggers, QCP said that the United States Federal Reserve’s monetary policy would be a decisive market-moving factor going forward. Fed Chair Jerome Powell, it noted, had not achieved consensus over the pace and scope of future key interest rate hikes.

“Economic data globally is pointing to poor growth and a coming global recession,” the update read, highlighting upcoming Consumer Price Index (CPI) inflation data for July due for release on Aug. 10:

“We continue to think that markets will trade sideways and will be sensitive to economic data releases. US CPI next Wednesday will be the next important one to watch.”

Ethereum strength fails to convince

On altcoins, Ether (ETH) and other large-cap tokens joined in Bitcoin’s relief push higher.

Related: 3 key Ether derivatives metrics suggest $1,600 ETH support lacks strength

ETH/USD circled $1,665 at the time of writing, with ETH/BTC nonetheless failing to crack resistance closer to the 0.075 mark after a second retest.

ETH/BTC 1-day candle chart (Binance). Source: TradingView

With the Ethereum Merge around one month away, concerns were also increasing over the likelihood of a contentious hard fork of the network.

“The more pressing and immediate risk in the crypto markets is the ETH merge that is scheduled to take place in September,” QCP continued.

It added that markets had already “started to price in the possibility of a material hard fork.”

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Nansen admits neglecting DeFi plans during the NFT craze

Nansen has registered over 130 million addresses and has grown 30% despite the crypto downturn in 2022.

Despite the general downturn in the cryptocurrency markets throughout the year, Ethereum blockchain analytics platform Nansen has continued to report impressive growth numbers.

CEO and co-founder Alex Svanevik recently spoke about Nansen’s growth, highlighting that the company has registered over 130 million addresses and has grown 30% despite the crypto downturn. Svanevik credited much of his success to the value of blockchain platforms, notably those based on Ethereum.

Cointelegraph reached out to Nansen’s Andrew Thurman for more insight into the company’s success. Thurman, a Simian psychometric enhancement technician, explained that after the nonfungible tokens (NFT) craze, Nansen realized it would be a big area for the company and became its most popular section. He added:

“As a result, I think we neglected our DeFi plans a bit. However, we’re really focused on strengthening that again and balancing that out with NFTs. We had to realize that our aim to be the Super App of Web3 meant NFTs are important, but they aren’t the only important thing.”

With Nansen’s client base continuing to rise, Thurman added that the firm is definitely seeing a shift in favor of business clients, or business-to-business (B2B). He explained that at the end of the year, Nansen will most likely have more B2B earnings than individual sales, which was precisely the opposite last year. As a result, Thurman said that Nansen must change their approach if they want to expand and satisfy the increasing user demand.

On its growth plan, Thurman spoke about the platform’s creation of a new yet-to-be-launched portfolio product that will allow customers to keep track of their assets across 40+ blockchains and over 400 decentralized finance (DeFi) platforms in addition to the recently announced research project dubbed Alpha.

When asked what advice he would give to other firms wanting to follow in their footsteps, Thurman responded:

“Cryptocurrency is an industry experiencing 0-to-1 uptake in terms of users, use cases and market cap. It’s a massive new playing field where winners can emerge.”

Related: Crypto users spent $2.7B minting NFTs in first half of 2022: Report

Founded in 2020, Nansen is a blockchain analytics platform for crypto experts and investors that tracks data and research on Ethereum and other blockchains. Aside from research, Nansen is also recognized for index aggregates such as the NFT-500, which track the performance of the top 500 ERC-721 and ERC-1155 token collections on Ethereum. Last year June, Andreessen Horowitz invested $12 million into the company.