Cryptocurrency prices fall, recovery continues to slow
On Tuesday, Bitcoin, the leading cryptocurrency, fell 3.22% to $48,497.55.
Ether, the second most traded cryptocurrency, fell 3.21% to $3,241.55, according to Coindesk data.
Meanwhile, sales of non-fungible tokens (NFTs) have jumped to new heights, another indication of how well the market has interacted. Visa has announced that it has paid $150,000 for CryptoPunk NFT, a type of blockchain token, to add to its collection of historical and commercial artifacts. The company also noted that "NFT represents a new chapter in digital commerce."
According to CryptoSlam data, cryptopunk sold more than $86 million in August, reaching $333 million in sales so far, and the average monthly price of cryptopunk was $199,069, more than double the average of last month.
Virginia-based MicroStrategy has announced that it has added 3,907 new bitcoins to its large original cryptocurrency holdings. According to a tweet from CEO Michael Sailor, the total holding of Bitcoin is 108,992.
According to documents released by the Security and Trade Commission (SEC) on Tuesday, the company recently spent about $177 million on bitcoin purchases, with an average price of about $45,294 per coin.
Shares of MicroStrategy, used by some investors as a proxy for the price of Bitcoin, have fallen to $718 from a March high of $1,273, CoinDesk reports.
According to data tracked by Glassnode, the cryptocurrency exchange received 16,606.80 BTC on Monday, the highest daily net inflow for a month. Over 29,000 BTC have been transferred to the exchange over the past week.
"It's not a trend we want to continue," said William Clementi, chief insights analyst at Blockware Solutions, in a tweet.
Blockstream valued the Bitcoin tech company, which received $210 million in a Series B funding round, at $3.2 billion.
The round was attended by British investment management firm Baillie Gifford and iFinex, the parent company of cryptocurrency exchange Bitfinex and issuer of the Tether stablecoin, Blockstream reported Tuesday.
Blockstream has also acquired intellectual property rights and key employees of Israeli bitcoin mining hardware manufacturer Spondulis, CoinDesk reports.