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Bitcoin Supply on Exchanges Slides to Lowest Level Since 2018

Data from on-chain analytics firm Santiment shows bitcoin supply on crypto exchanges has slipped to its lowest levels since February 2018, with 6.4% supply leaving exchanges in the past week. That dip comes after the U.S. Securities and Exchange Commission (SEC) accused exchanges Binance and Coinbase of offering unregistered securities to U.S. customers. CoinDesk's Jennifer Sanasie presents "The Chart of the Day."

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BLUR Underperforms CoinDesk Market Index Ahead of $62M Token Unlock

Ahead of its token unlock this week, BLUR – the native token for the non-fungible token (NFT) exchange with the same name – has slid roughly 4% in the past 24 hours to 31 cents, performing worse than the rest of the market as reflected by the CoinDesk Market Index. CoinDesk's Jennifer Sanasie presents "The Chart of the Day."

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Ripple Rally Leads Altcoin Market

Ripple (XRP) has outperformed the rest of the Currency sector in the CoinDesk Market Index with a 12.8% month-on-month increase, even after the broad market contraction at the beginning of the week. According to Kaiko data, the Open Interest in XRP rose after the last week of May, hitting yearly highs of more than $500 million. CoinDesk's Jennifer Sanasie presents "The Chart of the Day."

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67% of New NFTs Minted Are Profitable: Nansen Data

According to Nansen data, 67% of new non-fungible token (NFT) mints in May are profitable. Separately, Dune Analytics notes a declining number of monthly active traders this year on Opensea, the largest NFT marketplace, amid increased weekly volume on Blur, an NFT platform geared towards professional traders. CoinDesk's Jennifer Sanasie presents "The Chart of the Day."

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Binance Market Share Sinks to Lowest Level in Eight Months

Binance’s market share has dropped to its lowest level in eight months, according to CCData. The exchange remains the largest cryptocurrency platform by trading volume, but it has seen its market share decline consecutively over the past three months after reaching a yearly high of 57% in February 2023. CoinDesk's Jennifer Sanasie presents "The Chart of the Day."

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Bitcoin Investors Are HODLing More Than Ever: Glassnode

Data from Glassnode shows that investors are holding on to their bitcoin longer than ever. The amount of bitcoin that's been held for at least a year has climbed to a record 68% while 55% of bitcoin has been held for at least two years, and 40% for three years. CoinDesk's Jenn Sanasie presents "The Chart of the Day."

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Tether's USDT Trading Volume Falls to Lowest Level in Four Years: Kaiko

Crypto market research firm Kaiko is out with a new report, noting that trading with Tether’s USDT stablecoin has fallen to its lowest level in four years, while its market capitalization nears an all-time high of $83 billion. CoinDesk's Jenn Sanasie presents "The Chart of the Day."

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Onchain Metric Suggests Litecoin Is Undervalued: Glassnode

An onchain metric suggests that litecoin (LTC), the 12th largest cryptocurrency by market value, is trading at discounted prices. CoinDesk's Jenn Sanasie presents "The Chart of the Day."

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NFT Trading Volume on Pace to Drop Below $1B: DappRadar

A new report from DappRadar reveals that NFT trading volume for the month of May has reached $333 million so far, putting it on track to fall below $1 billion for the first time this year. CoinDesk's Jenn Sanasie presents "The Chart of the Day."

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Axie Infinity's Token Climbs After Game Is Listed on Apple App Store

Blockchain-based play-to-earn project Axie Infinity's native token (AXS) is paring some gains after surging over 12% after the news dropped that Axie Infinity: Origins, a card-based strategy game, would be debuting on the Apple app store. CoinDesk's Jenn Sanasie presents "The Chart of the Day."

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