Author: NBTC
Cryptocurrency analyst Kevin Svenson is turning bullish on Bitcoin (BTC) as the flagship trades at over 20% below the all-time high reached in March. Svenson tells his 79,200 YouTube subscribers in a new video that Bitcoin is “likely just a couple of months away from a new all-time high.” According to the analyst, the correction that Bitcoin keeps experiencing happens in all cycles and the current one is not an exception. “People may just be heavily overexposed to the market, having grand expectations to be set for life after this bull run. And because everyone is so overexposed all the…
Billy Markus, known on social media as Shibetoshi Nakamoto (a playful reference to the Bitcoin creator’s pseudonym) who created the iconic meme cryptocurrency Dogecoin, has taken to the X platform to make it clear that he has no intention to work on any other crypto project ever. He also revealed the very first coin he had worked on before making DOGE and slammed Ethereum-based coins whose creators claim they were made in 2013. “I will never create any cryptocurrency” again: Billy Markus Earlier today, Markus posted a tweet to clarify his participation in the making of Dogecoin (and another crypto…
Base, the Ethereum L2 network developed by Coinbase, has experienced major growth in Q3 and through 2024. Over the last day, Base’s transactions per second (TPS) increased by 51%, as per L2Beat data. Base is proving to be a solid competition after generating $7.2 million in revenue in Q3. As more projects and users migrate to Base, its daily transactions are nearing 7 million. Base sees more growth in activity and transactions Base transactions per second (TPS) averaged over the past day are up by almost 51%, according to L2Beat. In comparison, Arbitrium One transactions were up by 17.5% and…
Buy-sell ratios point to bargain hunting over Kraken and Coinbase. The average trade size indicates that dip-demand stems from large traders. Bitcoin (BTC) bargain hunters are active on Kraken and Coinbase (COIN), snapping up coins at perceived discounts as selling pressure from other exchanges the leading cryptocurrency under pressure. Data tracked by London-based CCData show the buy-sell ratio, which compares the volume of buy-to-sell orders on Kraken and Coinbase, has averaged 250% and 123%, respectively, this month. A ratio above 100% indicates more buys than sells, suggesting net bullish pressure. Bitcoin’s price began the month on a negative note, falling…
XRP community commentator Levi Rietveld recently shared key insights that support a bullish outlook on XRP, particularly emphasizing Ripple’s RLUSD stablecoin and its potential for bank integration. Ripple has continued to make waves in the financial sector, drawing increased attention due to the company’s development of the RLUSD stablecoin. As Ripple’s stablecoin project moves closer to launch, the community speculates about its potential use cases and impact on global finance. A recent commentary by Rietveld highlighted critical aspects of Ripple’s RLUSD stablecoin and its anticipated integration with banking systems. RLUSD Stablecoin and Bank Integration According to Rietveld, the RLUSD stablecoin…
Ethereum has reached a decisional point at the head and shoulders neckline and the 100-day crucial moving average. A potential breakout will likely lead to a significant surge due to a massive short liquidation cascade. The price action in the coming days will play a crucial role in determining ETH’s broader prospects. Technical Analysis By Shayan The Daily Chart Ethereum has reached a decisional point at a crucial resistance region consisting of the Head and Shoulders neckline and the 100-day moving average at $2.7K. The price action in recent days has shown low-volatility sideways movement, reflecting an equilibrium state between…
Polkadot (DOT) recently made some headlines after opening up its marketing budget and dividing opinions in the cryptocurrency market. The Web3 project continues to bet on spending transparency, now revealing a nearly $400,000 budget for Token2049 in Singapore. While reporting the six-digit expenses for the crypto event, Eric Holst raised a question: “Is Token2049 in Singapore worth it?” In the comments, people exposed different answers and opinions to Holst’s question, with a mix of supportive and opposing biases. Token2049 is one of the world’s leading crypto events, that happened this year in Singapore, on September 18 and 19. Polkadot’s team…
The Bitcoin hash rate, a key indicator of the network’s security and efficiency, jumped to an all-time high (ATH) level of 791.62 million TH/s, according to Ycharts. This new level also shows a remarkable 73.95% improvement on the particular metric from a year ago. Key Hashrate Milestone In the last few weeks, data from Ycharts shows that Bitcoin experienced a dramatic rise in its hash rate, with fluctuations between 574 million and 742 million in early October. The activity served as a precursor to the cryptocurrency finally going past the 791 million level, where it remains largely unchanged for the…
At present, the price of Bitcoin stands at $58,027.33. In the last 30 days, the price has seen a fall of at least 1.9%. Meanwhile, Gold has hit a new all-time high of 2,518.86 USD/oz. The data reveals a negative correlation between Gold and Bitcoin. Let’s dive deeper for more interesting details! Bitcoin Bear Market Persists CryptoQuant’s Bull-Bear Market Cycle indicator shows that the Bitcoin market is currently going through a bearish phase. The MVRV ratio also indicates a similar trend, as the ratio has stayed below its 365-day moving average since August 26. A CryptoQuant report states that Bitcoin…
EIP-7702 revolutionizes wallet management, allowing external accounts to act like smart contracts and improving user experience. Odyssey testnet speeds up Ethereum dApp development with high performance and integrates advanced cryptographic features. Coinbase’s restructuring focuses on on-chain growth and user-friendly crypto solutions with new leadership at Coinbase Wallet and Base. EIP-7702 is poised to revolutionize wallet management and account abstraction in cryptocurrency. Announced by Georgios Konstantopoulos on X, the new Ethereum Improvement Proposal (EIP) allows externally owned accounts (EOAs) to function like smart contracts. This development, available for testing on the Odyssey Chapter 1 testnet, aims to create seamless onboarding, enhanced…