The post Fidelity Reveals Who’s Selling Bitcoin appeared on BitcoinEthereumNews.com. Chris Kuiper, vice president of research at Fidelity’s digital asset arm, the long-term holders who have held their coins for a year or more are believed to be the main source of selling.  However, based on the data cited by Kuiper, long-term holders are currently selling slowly over time, meaning that there is no rush to exit the market.  As noted by the analyst, many long-term investors expected the leading cryptocurrency to experience a massive rally in October or November based on its historical price action. However, this did not happen, which resulted in frustration.  You Might Also Like Now, some long-term holders are tempted to sell their coins earlier in order to be able to lock in profits. “But as October’s strong seasonal pattern didn’t hold up and the calendar year is coming to a close, long-term holders are looking to make year-end tax and positional changes, calling it a day with the gains they already have,” Kuiper explained.  Bitcoin’s positive fundamental developments and lackluster price action continue to diverge, the analyst says.   Who’s buying?  At the same time, there is still substantial buying from institutional investors, exchange-traded funds (ETFs) and corporations. This demand helps to keep the cryptocurrency afloat.  Bloomberg’s Eric Balchunas has noted that Bitcoin ETFs managed to attract more than $500 million worth of inflows on Wednesday.   Meanwhile, Samson Mow recently blamed recent Bitcoin buyers for selling Bitcoin to secure lackluster returns after the cryptocurrency severely underperformed earlier this year. Moreover, he claims that this cohort of buyers rushed to sell BTC due to reports of OGs dumping their holdings.  Source: https://u.today/fidelity-reveals-whos-selling-bitcoinThe post Fidelity Reveals Who’s Selling Bitcoin appeared on BitcoinEthereumNews.com. Chris Kuiper, vice president of research at Fidelity’s digital asset arm, the long-term holders who have held their coins for a year or more are believed to be the main source of selling.  However, based on the data cited by Kuiper, long-term holders are currently selling slowly over time, meaning that there is no rush to exit the market.  As noted by the analyst, many long-term investors expected the leading cryptocurrency to experience a massive rally in October or November based on its historical price action. However, this did not happen, which resulted in frustration.  You Might Also Like Now, some long-term holders are tempted to sell their coins earlier in order to be able to lock in profits. “But as October’s strong seasonal pattern didn’t hold up and the calendar year is coming to a close, long-term holders are looking to make year-end tax and positional changes, calling it a day with the gains they already have,” Kuiper explained.  Bitcoin’s positive fundamental developments and lackluster price action continue to diverge, the analyst says.   Who’s buying?  At the same time, there is still substantial buying from institutional investors, exchange-traded funds (ETFs) and corporations. This demand helps to keep the cryptocurrency afloat.  Bloomberg’s Eric Balchunas has noted that Bitcoin ETFs managed to attract more than $500 million worth of inflows on Wednesday.   Meanwhile, Samson Mow recently blamed recent Bitcoin buyers for selling Bitcoin to secure lackluster returns after the cryptocurrency severely underperformed earlier this year. Moreover, he claims that this cohort of buyers rushed to sell BTC due to reports of OGs dumping their holdings.  Source: https://u.today/fidelity-reveals-whos-selling-bitcoin

                                                                               Wormhole’s native token has had a tough time since launch, debuting at $1.66 before dropping significantly despite the general crypto market’s bull cycle.                     Wormhole, an interoperability protocol facilitating asset transfers between blockchains, announced updated tokenomics to its native Wormhole (W) token, including a token reserve and more yield for stakers. The changes could affect the protocol’s governance, as staked Wormhole tokens allocate voting power to delegates.According to a Wednesday announcement, three main changes are coming to the Wormhole token: a W reserve funded with protocol fees and revenue, a 4% base yield for staking with higher rewards for active ecosystem participants, and a change from bulk unlocks to biweekly unlocks.“The goal of Wormhole Contributors is to significantly expand the asset transfer and messaging volume that Wormhole facilitates over the next 1-2 years,” the protocol said. According to Wormhole, more tokens will be locked as adoption takes place and revenue filters back to the company.Read more