Billions of dollars in bitcoin are flying across the blockchain as price stops just short of record highs. by David Canellis /. March 5, 2024 09:47 am. Metech Multimedia/Shutterstock modified by Blockworks. This is Cheatsheet, a primer on what’s happening in crypto today.. Traders are still pumping dog coins — but luckily for our collective sanity, something else has pumped even harder.. Bitcoin Cash fork eCash (formerly Bitcoin Cash ABC) is up 68% over the past day, its market cap jumping to two-year highs above $1.6 billion. The project is still being developed somewhat, but there doesn’t seem to be a direct catalyst for its recent pump.. Other top performers include Shiba Inu (SHIB), gaining nearly 65%, and blockchain-powered video streaming network Theta (THETA), which has jumped 31%.. Zombie coin Terra Luna Classic follows with 24.5%. Bitcoin (BTC) and ether (ETH) are up 4% and 8%, respectively.. Bitcoin’s run has coins on the move and it’s changing the holder landscape.. Diamond hands: 11% of all bitcoin haven’t moved for between five and seven years, the most since early 2017 when the asset was worth $1,000.. Itchy palms: 17% have moved in the past three months, down from 19.4% at the start of the year (indicating rising numbers of bitcoin held). Class of ‘21: 45% haven’t moved in more than three years, down from 49.75% in October (the number of medium-term holders has shrunk slightly over bitcoin’s current run).. Crypto exchanges have now seen their third straight day of net BTC inflows for the first time in one month, totalling nearly $525 million, indicating at least some intent to either take profits or enter altcoin markets.. Still, three of the six biggest days of net outflows since the FTX debacle in November 2022 have occurred over the past three months, with overall balances reducing by around 50,000 BTC ($3.33 billion) year-to-date.. However, outflows haven’t kept up with bitcoin’s price: There’s more than $135.3 billion in bitcoin sitting on exchanges right now, the highest US dollar value since crypto’s previous all-time high.. Tether has officially entered the $100-billion club, the fifth crypto to ever do so (and the first stablecoin).. Restaking app EigenLayer has flipped lending protocol Aave for TVL, now $11.05 billion and the second biggest DeFi app behind liquid staking tool Lido.. BSC lender Kinza and Base DEX Aerodrome are the fastest growing apps for TVL over the past week (Aerodrome TVL at highs of $205 million, raw ETH deposits still a ways off).. Warmer colored bands are slowly taking over the supply — which means more coins dormant for longer (Source).. Bitcoin fatigue seemed to hit on Monday, even as BTC inched ever closer to new record highs.. Slim pickings: Only two crypto stocks are set to open Tuesday higher: Cipher Mining (7%) and Coinbase (1.7%).. Volatile: Miners Argo and Marathon dropped the worst outside of regular US hours, down 8.9% and 4%.. Mending pending: Core Scientific is slowly clawing back its market cap after escaping bankruptcy — up 34% this month to $740 million but still three-quarters down on early 2022 highs.. Coinbase stock meanwhile is worth more than at any point since crypto’s previous peak in 2021, hitting $55.5 billion, about 30% shy of its highest ever valuation (nearly $77 billion).. COIN’s correlation with the wider tech market — as benchmarked by the Nasdaq 100 — is still holding, currently at 66% after spending much of the past few weeks inverted, per TradingView.. It’s trading almost in tandem with MicroStrategy these days, currently at 93% correlation. MSTR itself doubles as a proxy for bitcoin.. BITI, the ETF offering short exposure to bitcoin, is now down 72% over the past year.. Grayscale’s ether trust still trades at nearly 9% discount to NAV after another SEC delay to its pending ETF decision.. Former Binance CEO Changpeng Zhao is still the richest crypto billionaire on Forbes real-time list, worth $15 billion to Brian Armstrong’s $10 billion.. Don’t miss the next big story – join our free daily newsletter.. Tags. Bitcoin. BTC. cheatsheet. Coinbase. EigenLayer. Lido. MicroStrategy. Newsletter. Blockworks Daily. Upcoming Events. Digital Asset Summit 2024. Hilton Metropole | 225 Edgware Rd, London. Mon – Wed, March 18 – 20, 2024. Crypto’s premier institutional conference returns to London in March 2024. The DAS: London Experience: Attend expert-led panel discussions and fireside chats Hear the latest developments regarding the crypto and digital asset regulatory environment directly from policymakers and experts.. buy ticketslearn more. Day 0x. HYATT REGENCY SALT LAKE CITY. TUES, OCT. 8, 2024. Guided by the expertise of Blockworks Research Analysts team, this one day event will feature senior leaders, entrepreneurs, and developers from across the crypto industry. Attendees will have the opportunity to participate in an immersive experience to explore the latest trends, . . learn more. Permissionless III. Salt Lake City, UT. WED – FRI, OCTOBER 9 – 11, 2024. Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains . . learn more. recent research. Research. Wormhole is a suite of open-source, permissionless protocols used to move assets and queries across blockchains. Despite being a common misconception, Wormhole is not just a token bridge. Nevertheless, protocols can build token bridges on top of Wormhole by leveraging the cross-chain messaging provided.. by Boccaccio. more from news. Select a tab. The delay was expected, putting a May decision on potential ETH ETFs in focus. by Katherine Ross /. March 4, 2024. MicroStrategy’s stock was up over 20% in intraday trading Monday. by Katherine Ross /. March 4, 2024. Albert Meo, most recently the executive director of regulatory policy at Morgan Stanley, has been named chief financial officer of Prometheum. by Casey Wagner /. March 4, 2024. The iShares Bitcoin Trust saw about 40% of the 10-fund category’s trading volumes last week, hitting $10 billion in assets under management. by Ben Strack /. March 4, 2024. Punk 3100 is one of nine “alien” CryptoPunks, the rarest group in the collection. by Jack Kubinec&Bessie Liu /. March 4, 2024. Ether is a commodity just up until the point it is not, or, ether is not a commodity just up until the point it is — whichever you prefer. by Jesper Johansen /. March 4, 2024