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Produced by Daniel Aharonoff & Mogul Media AI

Ethereum's $696M ETF Exodus Dwarfs the Foundation's $8M: Who's Selling?

Everyone's Blaming the Ethereum Foundation. The Real Sellers Are 87 Times Bigger. Co-produced by Daniel Aharonoff and DigitalDan As the chief editor of ethdan.me, I have watched this market blame the same wallet for a month — and on Friday, November 13, the numbers finally proved the crowd wrong. Ethereum slipped back below $2,000, trading near $1,935 after touching an intraday low of $1,894, and the loudest story on crypto Twitter was the Ethereum Foundation selling another 2,000 ETH. It sounds damning. It is also, by the numbers, almost irrelevant. Here is the real story of this selloff: United States spot Ethereum ETFs dumped $695.9 million in November through November 11, while the Foundation-linked wallet sold about $8.03 million in the same month. That is not a rounding error. That is an 87-to-1 ratio. One side of this market is a rounding error. The other side is a landslide. So let me ask the question that actually matters: who is really selling Ethereum — and who, quiet...
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Produced by Daniel Aharonoff & Mogul Media AI

Exploring the Artistic Brilliance: Bitcoin Ordinals Inscription Sale at Sotheby's

The recent sale of a Bitcoin Ordinals inscription from the Quantum Cat project at Sotheby's has garnered significant attention, with the winning bid reaching over $250,000. This particular piece, known as the "Genesis Cat" Ordinals inscription, created by digital artist FAR, received an impressive 50 bids, ultimately selling for 6.31 BTC, equivalent to approximately $254,000.

Key Points:

  • The Quantum Cats collection of Bitcoin Ordinals inscriptions was announced earlier this month by Taproot Wizards.
  • The collection, consisting of 3,333 images, cost over $66,000 to create on the Bitcoin blockchain.
  • The wider sale of the Quantum Cats collection is scheduled for January 29.
  • Udi Wertheimer, co-founder of Taproot Wizards, highlighted that the collection pays homage to an early code in the Bitcoin network called concatenate or OP CAT.
  • Sotheby's head of digital and contemporary art, Michael Bouhanna, congratulated the artists and collectors involved in the sale, giving a special mention to FAR for their assistance in curating and organizing the event.
  • The Natively Digital curated Ordinals sale generated over 26 BTC, valued at around $1,097,000, with 641 bids and all auction lots being sold.
  • Bouhanna noted that half of the sale exceeded their high estimates, indicating strong interest and demand in Bitcoin Ordinals.
  • While this marks the first Bitcoin Ordinals-centric sale at Sotheby's, the auction house has previously conducted numerous NFT sales on Ethereum, including notable auctions like the sale of an Art Blocks NFT named "The Goose" for $6.2 million last June.

This successful sale not only underlines the growing significance of digital art and NFTs in the art world but also showcases the increasing interest in blockchain-based artworks and collectibles among both artists and collectors.

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