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Satoshi to Lose Bitcoin Crown by Halloween

Eric Balchunas, senior ETF analyst at Bloomberg, recently shared a list of the world’s top 11 Bitcoin holders on his X page. According to the list, U.S. spot Bitcoin ETFs combined (excluding Grayscale) are about to catch up with Satoshi Nakamoto in Bitcoin holdings, having 921,540 BTC compared to Nakamoto’s total of 1.1 million BTC. Thus, U.S. spot Bitcoin ETFs now hold close to 84% of the Bitcoin that Satoshi has. Balchunas believes he could lose his title as the largest holder of Bitcoin by Halloween. The second spot on the list after the Bitcoin creator is the Binance exchange, and the third is BlackRock (NYSE: BLK) (IBIT).

SHIB Burn Rate Collapses – Here’s What’s Happening on Shibarium

Recent Shibburn data reveals the Shiba Inu burn rate has decreased by 99.62% over the last 24 hours, with only 261,691 SHIB meme coins burned—just one burn transfer made yesterday, August 27. The weekly data shows an increase of 843% with 114,255,785 SHIB tokens moved to dead-end wallets in the past seven days. Activity on Shibarium, a layer-2 solution, has also slowed. Following a recent upgrade, SHIB burns have been linked to transaction activity on SHIB’s internal ledger. Daily transactions on Shibarium fell from 28,680 to 3,370 between August 20 and August 23, reflecting a drop of more than 88%, with current activity remaining stable according to Shibariumscan.

Bitcoin Witnesses Epic 7,023% Imbalance in Bulls’ Liquidations

Bullish traders have borne the brunt of recent liquidations in the Bitcoin market. According to CoinGlass, over $3 million worth of long positions were liquidated in just one hour, while short liquidations amounted to only $51,000. This significant imbalance of 7,023% indicates a bearish market state. Contributing to this surge in liquidations was a 0.6% decrease in Bitcoin’s price during that hour, following a total decline of 3.7% since the start of the week, exacerbating the challenges for bullish traders. As of writing, Bitcoin trades at $58,848, down 4.41% over the past 24 hours (CoinMarketCap).

This article was originally published on U.Today