Bitcoin & cryptocurrency news

Crypto in 2021: a Year in Review (Part 4)

Reading Time: 5 minutes The final quarter of 2021 was just as dramatic as the others, if not more so. The year ended with a bang, with Mt. Gox victims finally seeing some light at the end of the tunnel, a Bitcoin ETF finally being awarded (sort of), and the end of the Kleiman vs Wright saga. The concluding part of our four-part review of crypto in 2021 looks at what happened between October and December, so you might want to read parts 1-3 to catch up on the rest of the year’s action before diving into Q4. Snorkel ready? Then off we go.

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Bitcoin sees ‘non-stop’ end-of-year buying as 10K BTC leaves Coinbase in a single day

Coinbase users appear hungry for coins as a trading firm forecasts a “major flippening” in BTC ownership coming in January.

Almost 10,000 Bitcoin (BTC) left major United States-based exchange Coinbase on Dec. 30 in a sign that investor appetite is returning to the sphere. 

Data from on-chain monitoring resource Coinglass shows Coinbase’s professional trading arm, Coinbase Pro, shedding 9,925 BTC in the 24 hours to New Year’s Eve.

Binance adds 66,000 BTC in December

The buy-in, which runs in contrast to rising or flat balances on other major exchanges, marks a conspicuous short-term trend shift.

The latter half of December has been characterized by platforms such as Binance and OKEx seeing increased inflows of BTC — something commentators feared could be a forewarning of a sell-off.

While such a mass sale of BTC has not yet occurred, not everyone believes that it will stay that way.

At the same time, the exodus of registered Chinese users from exchange Huobi Global could be triggering a reorganization of funds, a more recent theory suggests.

According to Coinglass, Binance is up 840 BTC as of Friday, while OKEx has seen 767 BTC inflows. Huobi has lost a mere 158 BTC, but in December as a whole, a giant 14,044 BTC has left its books, hinting at the extent of the Chinese user exodus.

On the monthly view, Binance easily wins in terms of inflows, now up over 66,000 BTC versus the end of November.

Nonetheless, it was Coinbase attracting pundits as 2021 drew to a close.

“Coinbase buying has been pretty nonstop today,” popular Twitter trader Ryan Clark summarized.

Bitcoin exchange BTC balance summary as of Dec. 31. Source: Coinglass

An institutional “flippening” is coming

Beginning in early January after the holiday period, institutions are meanwhile predicted to reenter the limelight when it comes to BTC ownership.

Related: First US Bitcoin ETF a ‘dud’ in 2021 as GBTC discount stays near record lows

In its end-of-year summary and 2022 forecast report, “Just Crypto,” trading firm QCP Capital announced a “flippening” in the investor sphere from retail to institutional.

“In 2022, the first thing we expect to see is a major flippening of crypto ownership from primarily retail to institutional players, with institutions having a much larger participation,” it stated.

Such an event would see big players unfazed by recent price action, with BTC spot allocations still outperforming assets such as crypto stocks in 2021.

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Bitcoin & cryptocurrency news

Cryptocurrency Winners and Losers 2021

Reading Time: 3 minutes 2021 has seen its usual share of highs and lows in the cryptocurrency world, from Bitcoin beating its record price to people left bagholding NFTs of rocks. Of course there are people behind those peaks and troughs, and so we proudly present the 2021 FullyCrypto Cryptocurrency winners and losers. Winners Michael Saylor – MicroStrategy CEO Salyor rolls over for a second year in our winners list due to MicroStrategy’s sensational Bitcoin profits and his work in the sector. MicroStrategy now owns ₿121,044 at an average cost of $29,534, meaning a paper profit in the billions, while Saylor has taken an

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Kazakhstan Mulls Nuclear Power to Deal With Electricity Shortages Blamed on Crypto Miners

Kazakhstan Mulls Nuclear Power to Deal With Electricity Shortages Blamed on Crypto MinersThe government in Kazakhstan is considering building a nuclear power plant to overcome an electricity deficit allegedly caused by the booming crypto mining industry. Problems with power supply are driving away miners that saw the Central Asian country as a new home when China recently cracked down on the industry. NPP Project Revived Amid Short […]