Gradual Unlockings (August 19–25)
This week, a total of 437.6 million dollars worth of tokens will be unlocked for 18 different altcoins in the crypto market. This situation may cause short-term selling pressure to increase in the relevant altcoins. The altcoins with high market volume are as follows:
SOL: $92.65 million (0.09% of the supply)
DOGE: $21.66 million (0.06% of the supply)
AVAX: $16.75 million (0.17% of the supply)
SUI: $10.91 million (0.09% of supply)
NEAR: $7.68 million (0.24% of supply)
Rising and Falling
The 24-hour cryptocurrency market volume is hovering around $153 billion. In the last 24 hours, OKB was the most rising altcoin with a 9.8% increase, while Arbitrum (ARB) was the most declining altcoin with a 6% decrease. Bitcoin’s market value is around $2.28 trillion, while the total value of the cryptocurrency market is around $3.95 trillion. Long positions account for 73.77% of liquidated positions, with the most liquidations occurring in Ethereum (ETH).
Dutch crypto firm Amdax is creating a Bitcoin Treasury
Amsterdam-based Amdax plans to establish a Bitcoin treasury called “AMBTS,” targeting 1% of the BTC supply, and offer it as an institutional vehicle to be traded on Euronext.
Bitmine Leads with 1.52 Million ETH
Another major name on the rise in terms of cryptocurrency ownership is BitMine Immersion Technologies. The company, listed on the New York Stock Exchange, has increased its crypto assets to $6.612 billion as part of its Ethereum-based treasury strategy. BitMine’s portfolio includes 192 Bitcoin and a total of 1,523,373 Ethereum, valued at $4,326 per unit according to Bloomberg data.
Sharplink Gaming Reports $103 Million Loss
Another company operating under a crypto treasury strategy, Sharplink Gaming (SBET), disappointed investors with its second-quarter financial results. The company reported a net loss of $103 million for the quarter, with its stock value dropping by 15%. Revenue decreased by 30% year-over-year to $1.4 million, while gross profit fell by 50% to $0.3 million.
