Author: NBTC

Bitcoin was slightly higher on Monday as a sharp decline in oil prices helped lift Asian stock markets. At 6:35 UTC, the leading cryptocurrency by market value traded near $77,200, up 0.4% from midnight UTC, according to CoinDesk data. At that level, bitcoin was trading just above its widely tracked 50-day simple moving average of around $76,940. Traders and chart analysts monitor this key level closely, with sustained breakouts above it typically viewed as bullish.Other major cryptocurrencies were also modestly higher. XRP and Solana (SOL) rose 0.6% or more, while Ether (ETH) gained 0.4%. However, all three continued to trade…

Bankless co-founder David Hoffman sold his Ethereum ($ETH) holdings. He argues the “$ETH is money” thesis has fully played out. On-chain data and the daily chart suggest the market is already pricing in his call. Ether trades around $1,975, down 2.4% on the day and roughly 14% over the past month. Active addresses are falling, and exchange balances are rising again. Both echo the fade Hoffman described in his exit note. Why David Hoffman Sold His $ETH Hoffman called the “$ETH is money” thesis a long shot. He argued it required every Ethereum layer to outperform rivals. According to him,…

On-chain credit protocol Apyx has acquired an additional one million shares of MicroStrategy’s perpetual preferred stock, STRC, according to an announcement made via the project’s official X account. The purchase brings Apyx’s total holdings of the stock to approximately $280 million, signaling a significant institutional-level conviction in the software and bitcoin treasury company. Strategic Accumulation of MicroStrategy Preferred Shares MicroStrategy’s perpetual preferred stock, ticker STRC, is a unique financial instrument that combines elements of equity and fixed-income securities. Unlike common shares, preferred stock typically offers a fixed dividend and has priority over common stock in the event of liquidation. Apyx’s…

Crypto traders are keeping their fingers crossed for another global pandemic amid predictions that an outbreak of hantavirus from a cruise ship could spur on a so-called “memecoin supercycle.” X user “@jeetassassin,” who features a badge of the Solana-based crypto exchange Moonshot on their account, claimed that the hantavirus “will spark another memecoin supercycle.” Hours later, Moonshot claimed that it had “verified” Pump Fun-created token hantavirus (HANTA), which features an AI-generated image of a virus and a rat, on its site. Someone made a website where you can track hantavirus outbreaks I am positioned https://t.co/FXrUrChW5L — edward (@jeetassassin) May 7,…

Chicago-based derivatives behemoth CME Group has introduced round-the-clock trading for a plethora of its cryptocurrency futures and options contracts, including the ones that track the value of the Ripple-linked $XRP cryptocurrency and Cardano ($ADA). The rollout addresses a persistent mismatch between traditional hours and blockchain networks that are operational 24/7. Starting from this Friday, institutional traders can now trade cryptocurrency derivatives around the clock. There will be only a brief weekend maintenance pause of at least two hours. This, of course, gives altcoins a major boost. Alongside $XRP and $ADA, the list of other altcoins that will benefit from this…

10x Research, known for its analysis of the cryptocurrency market, announced that Bitcoin has entered a downward trend again. The company’s assessment, published on its X platform, stated that changes in institutional investor behavior, in particular, are putting pressure on the market. According to the analysis, the recent strong outflows from spot Bitcoin ETFs indicate that investors are entering a risk-reduction phase. According to 10x Research data, approximately $2.7 billion has flowed out of spot Bitcoin ETFs since May 7th. The company suggested that a significant reason for this movement was statements by MicroStrategy founder Michael Saylor implying that selling…

U2U Network, a cutting-edge Web3 infrastructure platform, has partnered with HyperSui, a renowned perpetual decentralized exchange. The partnership aims to accelerate the DeFi ecosystem through the Sui network. As per the official social media announcement of U2U Network, the development broadens the opportunities within the U2U platform, utilizing scalable community reach and robust infrastructure to advance the decentralized infrastructure adoption. Thus, the initiative indicates a wider commitment to efficiency, accessibility, and inclusivity across the rapidly evolving Web3 sector. U2U Network x @hypersuiAs the first Perp DEX built on Sui, HyperSui is bringing fast, low-cost, and user-friendly DeFi trading to the…

An on-chain address linked to Fenbushi Capital has reportedly sold 11,101 Ethereum ($ETH), realizing an estimated loss of approximately $11.79 million, according to blockchain analyst ai_9684xtpa. The transaction underscores ongoing volatility in the cryptocurrency market and provides a rare glimpse into the trading activity of a major institutional investor. Background of the Transaction The address in question had previously withdrawn a total of 33,398 $ETH from the Binance exchange between February and April of last year. Those withdrawals were executed at an average price of $3,039.36 per $ETH, suggesting a strategic accumulation phase during a period of relatively stable prices.…

Propy and Milo are combining crypto-backed mortgages with blockchain-based real estate settlement for a fully digital home-buying process. The partnership aims to let crypto investors purchase property without selling their digital assets. Key Takeaways: Propy and Milo launched a U.S. crypto mortgage platform with loans up to $25M. Bitcoin and Ethereum-backed mortgages could expand crypto use in real estate markets. Milo says its loans withstand 65% Bitcoin drops as crypto home-buying adoption grows. Tim Draper Backs Propy as Milo Expands Crypto Mortgage Access Across the U.S. Real estate platform Propy and crypto lender Milo are joining forces to build what…

A group of activist investors (or treasury “raiders,” depending on who you ask) are proposing a treasury redemption program for $GNO tokenholders. Should proposal GIP-150, which calls for “a one-time, opt-in pro-rata treasury redemption,” pass, those in favor would receive a share of the over $220 million held by the “well-capitalized” treasury. This move comes less than six months after Gnosis DAO voted to fire its former treasury manager KPK. The proposal’s author, who goes by Wismerhill argues that $GNO trades at a “persistent and widening discount” to the value of the Gnosis DAO treasury. Despite $22.5 million of recent…