Author: NBTC

Over-the-counter (OTC) desks played a crucial role in stabilizing trading during the recent crypto market crash by acting as shock absorbers that contained volatility and limited broader systemic risks, according to a note from Finery Markets, a leading crypto ECN and trading SaaS provider ranked among the top 30 digital asset firms globally. On Friday, bitcoin BTC$112,461.31, the leading cryptocurrency by market value, plunged from around $122,000 to $103,000, with most of the losses occurring in the late hours. The broader market wilted, marked massive losses in alternative cryptocurrencies and volatility in otherwise stable cryptocurrencies such as Ethena’s synthetic dollar…

Market Recap & Chart Read $Ethereum daily chart shows a classic shakeout-and-reclaim: The selloff knifed through mid-range support, tagging the $3,840–$3,500 demand zone (multiple green arrows), then reversed hard. Price has reclaimed the $4,000 handle and is pressing into the $4,350 area, which aligns with the 50-day SMA (~$4,354) and prior horizontal resistance (~$4,356–$4,357). Candles show long lower wicks on the lows, hinting at aggressive dip buying. Momentum now hinges on whether bulls can convert $4,350 into support. ETH/USD 1-day chart – TradingView Key levels from the chart Resistance: $4,350–4,360 (50D SMA & prior horizontal), $4,500, $4,800, $5,000 (psychological). Support:…

U.S. stocks remained near record highs on Tuesday but saw a largely muted opening as the previous session’s spike cooled amid gold’s surge to a new all-time high. Summary Dow Jones Industrial Average opened higher, but stocks were largely muted in early trading Tuesday. Gold surged to new highs above $3,800, with investor sentiment upbeat ahead of Federal Reserve chair Jerome Powell’s speech. The Dow Jones Industrial Average opened higher and added nearly 200 points, while the S&P 500 and the tech-heavy Nasdaq Composite both showed subdued action at the open. A cooldown for the primary gauges followed an explosive…

Ripple is extending its institutional custody infrastructure to Africa through a new partnership with Absa Bank, one of South Africa’s largest financial institutions. The deal makes Absa Ripple’s first major custody client on the continent and reflects growing institutional interest in tokenized assets across emerging markets. Absa will use Ripple’s digital asset custody technology to store and manage cryptocurrencies and tokenized assets for its clients, per a release. The integration will allow the bank to offer secure, compliant custody infrastructure at a time when regulatory clarity around digital assets in Africa is improving. The move follows a broader strategy by…

Ethereum (ETH) has moved back above key support after a brief breakdown, with the asset recovering toward $4,150. The move comes after a 24-hour gain of over 8%, though ETH remains down more than 8% over the past week. Pattern Repeats After False Breakdown A chart shared by Trader Tardigrade outlines a recurring price pattern: a false breakdown, followed by a reclaim of support, and then a rally. $ETH/daily#Ethereum has reclaimed above the previous low, which was marked as a support, after a false breakdown. It’s following this pattern:🔴 False breakdown🟡 Reclaim🟢 Rally We might see a Rally moving above…

Safello AB, the subsidiary of Safello — the leading cryptocurrency exchange in the Nordics with over 410,000 users — has been authorized by the Swedish Financial Supervisory Authority (Finansinspektionen) as a crypto-asset service provider under the EU’s Markets in Crypto-Assets regulation (MiCA). The authorization, following Safello’s April application, covers a full suite of crypto asset services: transfer services, custody and administration, execution and reception/transmission of orders, and exchanges of crypto-assets for funds and for other crypto-assets. MiCA, fully in force since December 2024, harmonizes EU rules to strengthen consumer and investor protection, market integrity and financial stability; authorised entities must…

According to CryptoSlam data, NFT (non-fungible token) sales volume has climbed by 5.98% to $161.7 million. Summary NFT sales hit $161.7M as buyers surged 126% to 382K. Ethereum led $102.7M NFT sales, reclaiming dominance. Pudgy Penguins surged 165% with $15.6M in weekly sales. Notably, market participation is hot. The number of NFT buyers increased by 126.59% to 382,846 and sellers rising by 124.15% to 341,290. NFT transactions also increased by 2.48% to 1,703,436. At the same time, Bitcoin (BTC) price has continued its decline, now sitting at the $106,000 level. Ethereum (ETH) has also slipped further to $3,800. The global…

Cosmos Health boosts Ethereum investment to $1.8M under $300M digital asset plan. CEO Greg Siokas says firm remains committed to accelerating crypto acquisitions. Stock up 200% in six months as Cosmos expands in healthcare and digital finance. Cosmos Health Inc. (NASDAQ: COSM) has strengthened its position in digital assets with a fresh $300,000 purchase of Ethereum (ETH), bringing the healthcare group’s total investment in the cryptocurrency to $1.8 million. The move, announced Monday, forms part of the company’s broader $300 million digital assets facility aimed at portfolio diversification and long-term growth. The Chicago-based company, which operates across pharmaceutical manufacturing, distribution,…

The total number of crypto millionaires and billionaires has grown by 40% and 29% respectively over the course of the last year, according to the Crypto Wealth Report published by investment consultants Henley & Partners.  Based on data ending on June 30, the report indicates there are approximately 241,700 crypto millionaires and 36 crypto billionaires globally, setting new records for crypto wealth. “This significant growth coincides with a watershed year for institutional adoption, highlighted by the first-ever cryptocurrencies launched by a sitting U.S. president and first lady,” the report reads.  Bitcoin’s sharp rise played the biggest role in creating…

US crypto exchange FTX has filed a lawsuit against Dunamu, the operator of South Korea’s largest exchange Upbit, to recover more than $53 million in assets. The lawsuit, a part of the ongoing FTX bankruptcy proceedings, was filed by FTX’s subsidiary Alameda Research on November 5, 2024, with the US Bankruptcy Court for the District of Delaware. The case is still pending. Why Is FTX Suing Dunamu? The lawsuit filed by FTX against Dunamu is a “complaint for the return of assets and violation of automatic stay.” The core of the claim is that Dunamu, through its Upbit exchange, is…