WBTC
Celsius exodus: $320M in crypto sent to FTX, user withdrawals paused
Crypto staking and lending platform Celsius may be dealing with its rumored liquidity crisis by unstaking $247 million worth of Wrapped Bitcoin from Aave and sending it to FTX exchange. Speculations among the crypto community are now flaring as the project has been moving massive amounts of WBTC, ETH, and other crypto assets in addition to pausing withdrawals for users. Celsius users have criticized the platform for how they believe the project has mismanaged its funds following the collapse of the Anchor Protocol on the now-named Terra Classic blockchain. The project could be addressing those concerns with the recent moves to stabilize liquidity. Some think that if Celsius fails, it would sell its significant stack of staked ETH (stETH), which would cause it to depeg further from ETH. stE...
NFTs most popular assets on Ethereum, but Wrapped Bitcoin growth stalls
Transfers of nonfungible tokens (NFT) on Ethereum have surpassed transfers of stablecoins and altcoins while the supply of wrapped Bitcoin (WBTC) has remained relatively stagnant since late last year. Those are two of the key findings in the latest State of the Network update from Coin Metrics. It details how ERC-721 transfers overtook stablecoins and altcoins on Ethereum starting last July and have continued to increase the margin between them ever since. ERC-721 is the token standard for NFTs on the Ethereum network. NFT transfers topped 50,000 per day on average starting late July and have not dipped below that line since. Daily NFT transfers are now averaging an all-time high over 300,000, a 600% increase since July. Conversely, ERC-20 tokens including altcoins and stablecoin transfers...
