Table of Contents:
$277 Million Bitcoin Transfer Shakes Major Crypto Exchange
On-chain data tracking platform Whale Alert has reported two significant Bitcoin transfers to the U.S.-based cryptocurrency exchange Kraken, as detailed by Investing.com. The first transaction involved 900 BTC, valued at $97,830,897, moving from Binance to Kraken. Shortly after, a second transfer of 1,629 BTC, worth $178,533,840, was sent from an unknown wallet to the same exchange.
These large-scale transfers have raised concerns among market observers, as they suggest that Bitcoin whales may be preparing to sell off their assets. The timing coincides with a broader market downturn, with Bitcoin's price declining by 2.31% in the last 24 hours, trading at $108,726 at the time of reporting. This represents a 2.68% drop from its all-time high reached the previous day. The negative sentiment has also affected leading altcoins, which have returned to previous lows after recent breakouts. The market dip is attributed to macroeconomic uncertainties, leaving investors questioning the potential for a future bull run.
| Transaction | Amount (BTC) | Value (USD) | Source | Destination |
|---|---|---|---|---|
| 1 | 900 | $97,830,897 | Binance | Kraken |
| 2 | 1,629 | $178,533,840 | Unknown Wallet | Kraken |
- Bitcoin price: $108,726 (as of press time)
- 24h decline: 2.31%
- Drop from ATH: 2.68%
Summary: Two massive Bitcoin transfers totaling $277 million to Kraken have sparked speculation about increased selling pressure amid a broader market decline. (Source: Investing.com)
Coinbase Joins S&P 500: A Milestone for Crypto Industry
Coinbase has officially joined the S&P 500, marking a significant achievement for both the company and the broader crypto and blockchain sector, according to Cointelegraph. Meryem Habibi, chief revenue officer of Bitpace, emphasized that this move "normalizes crypto exposure in conservative portfolios that might otherwise avoid digital assets." Jason Kennard of ARK Invest Europe highlighted that Coinbase is the first crypto-native firm to meet the S&P 500's strict profitability, liquidity, and market cap requirements.
Steve Sosnick, chief strategist at Interactive Brokers, noted that equity investors in S&P 500 index funds now have indirect exposure to crypto through Coinbase (COIN). The inclusion could result in billions of dollars in passive investment flows, as index funds managed by BlackRock, Vanguard, and State Street must now allocate capital to Coinbase. S&P DJII estimated in 2024 that approximately $10 trillion is passively tracking the S&P 500. If Coinbase receives a 0.1% weighting, it could see $10 billion in capital inflows.
"This is more than an achievement for Coinbase; it’s a landmark for the broader crypto and blockchain industry." – Meryem Habibi, Bitpace
Despite this milestone, Coinbase recently reported a data breach involving a "compromise of passwords or private keys," which could cost the exchange between $180 million and $400 million. The breach exposed personal information of tens of thousands of users, increasing their vulnerability to robberies and kidnappings, similar to the aftermath of the 2021 Ledger breach.
- Coinbase is now part of the S&P 500 index.
- Potential $10 billion in passive capital inflows if assigned a 0.1% index weighting.
- Recent data breach could cost $180 million to $400 million.
Experts suggest that while Coinbase's inclusion is a major step, other crypto firms may not join the S&P 500 soon due to stringent requirements. Institutional adoption of blockchain and tokenization is expected to increase, with traditional finance firms integrating crypto infrastructure, as seen with JPMorgan’s Onyx platform and PayPal’s PYUSD stablecoin.
Summary: Coinbase's entry into the S&P 500 cements crypto's legitimacy in mainstream finance, potentially attracting billions in passive investment, but also highlights ongoing security challenges. (Source: Cointelegraph)
HTX (Formerly Huobi) Offers $1,500 USDT Welcome Bonus with Referral Code
HTX, previously known as Huobi, is offering new users a welcome bonus of up to 1,500 USDT when registering with the referral code "4spx7," as reported by CryptoNinjas. This bonus includes a 20% discount on trading fees and access to exclusive promotions. The referral program also allows users to earn a 30% commission on transaction fees from invitees for up to 24 months, and both referrer and invitee can receive mystery boxes worth up to 1,500 USDT each after certain trading milestones are met within 14 days.
The welcome bonus is structured as follows: 200 USDT for signing up (with KYC), up to 200 USDT for the first deposit of at least 10 USDT, up to 300 USDT for the first spot trade of at least 10 USDT, and up to 200 USDT for the first futures trade of at least 100 USDT. Limited-time challenges can provide up to an additional 600 USDT in rewards if completed within 30 days of registration.
| Task | Reward (USDT) | Requirement |
|---|---|---|
| Sign-Up | 200 | Registration & KYC |
| First Deposit | Up to 200 | Deposit ≥ 10 USDT |
| First Spot Trade | Up to 300 | Trade ≥ 10 USDT |
| First Futures Trade | Up to 200 | Trade ≥ 100 USDT |
| Limited-Time Challenges | Up to 600 | Within 30 days |
- Referral code: 4spx7
- Welcome bonus: up to 1,500 USDT
- Trading fee discount: 20%
- Referral commission: 30% for up to 24 months
- Mystery boxes: up to 1,500 USDT each
HTX supports over 700 digital assets and more than 1,000 trading pairs, offering spot, margin, futures, and options trading. Security features include cold storage, two-factor authentication, and Merkle tree-based proof of reserves. The referral program is open-ended, with no limit on the number of friends invited, and additional rewards are available through special events and daily check-ins.
Summary: HTX provides a comprehensive referral and welcome bonus program, offering up to 1,500 USDT, trading fee discounts, and additional rewards for new and existing users. (Source: CryptoNinjas)
Sources:
