Author: NBTC
Defying skeptics, Bitcoin (BTC) has nearly reached the once-unimaginable $100,000 milestone after trading at $0.0009 in 2009. Just a few years ago, only the most optimistic in the industry could have envisioned Bitcoin nearing $100,000—but now, that vision remains within striking distance despite a pullback from above $99,000 late last week. Let’s examine past Bitcoin all-time high cycles and how the current stage compares in its growth trajectory. Understanding the patterns behind Bitcoin’s all-time high behavior is key to predicting whether history might repeat itself. The real question is: will it repeat? Or are we at a unique moment—akin to…
XRP, the third largest cryptocurrency by market capitalization, has seen a massive price gain, reaching a near-seven-year high of $2.90, last seen in January 2018. Large holders, referred to as whales, have been moving XRP at an unprecedented rate, with on-chain analytics platform CryptoQuant reporting substantial XRP whale activity. In a recent analysis, CryptoQuant stated that “Since its launch, XRP has never captured the attention of whales to this extent,” adding that “XRP whale activity has reached an all-time high.” $XRP Whale Activity Hits All-Time High!“#XRP whale activity is at an all-time high, indicating that XRP has now been embraced…
Dennis Porter, co-founder of Satoshi Action Fund has revealed that up to 20 ‘Strategic Bitcoin Reserve’ bills will be introduced at the state level and there may even be multiple bills in the same state. Porter further added that lawmakers are competing aggressively to make it happen first. In a X post, Porter shared this revelation as he highlighted that the vast majority of these bills will be based on Satoshi Act Fund’s Strategic Bitcoin Reserve (SBR) models. Satoshi Act Fund Co-founder : 20 Bitcoin Reserve State Bills People often ask me: “when will the process start for ‘Strategic Bitcoin…
Crypto payments service provider Oobit, backed by Tether, Solana and others has announced that they are seeking a license in the UAE and will be setting up an office in Abu Dhabi. As per their blog post, “We’re thrilled to announce that we have officially applied for a Financial Services Regulatory Authority (FSRA) license under the Abu Dhabi Global Market (ADGM) framework. This step marks our commitment to expanding into the thriving Middle Eastern market and aligning with a forward-thinking regulatory environment.” “Applying for the ADGM license is a monumental step for Oobit. It reinforces our commitment to fostering trust…
Landlocked between six different neighbors in the Horn of Africa, Ethiopia has approximately 120 million inhabitants, making it the second most populous nation on the continent, and a GDP of $163 billion, which puts it in the same economic league as Ukraine, Morocco, Slovakia or Kuwait. However, the country has also suffered from a bloody civil war, with several regions still under the control of anti-government forces, like the ethno-nationalist Amhara militia Fano. But that hasn’t prevented Chinese bitcoin (BTC) mining company BIT Mining (BTCM) from expanding its operations — until now confined to Akron, Ohio — into Ethiopia by…
Traders have witnessed a massive half-billion dollar amount of crypto liquidations in a day after Bitcoin dropped to its lowest price in the past week. According to Coinglass’s data on Nov. 25, crypto traders have seen massive liquidation of about $553 million in the past day of trading. Traders with long positions have liquidated $413 million as Bitcoin price dropped to $92k, decreasing almost 5% in a day. 1 Day BTC price chart, September 10 – November 26, 2024 | Source: crypto.news The long positions in the last 12 hours and 4 hours have seen major crypto liquidation with $344…
DWF, a prominent Singapore-based blockchain investment firm, has made headlines by depositing $2 million ALGO tokens valued at approximately $1.14 million, into cryptocurrency exchanges. Since November 21, the Singapore based company has deposited a total of 16 million ALGO tokens worth $9 million. Such consequent purchases caught the attention of the market observers, who later started questioning the intentions of the company and its potential impact of the price of the token. ALGO purchase by DWF (Source: X Post) Market Reactions and Speculation Around ALGO Price Surge Despite these large deposits, the token’s price demonstrated resilience, surging by 185% over…
The Financial Action Task Force Travel Rule, designed to combat money laundering and terrorist financing, is central to a debate on balancing regulatory oversight and privacy. Financial institutions, including Virtual Asset Service Providers, must collect Know Your Customer information and share it with other institutions involved in the transaction. Originally introduced for traditional finance in 2012, the rule has now been extended to bitcoin transactions. Critics argue that applying this rule to bitcoin undermines its principles of privacy and financial freedom, while also introducing new risks and unintended consequences. Based in Paris, France, the FATF is an unelected international organization…
According to one recent estimate, there are currently around 1,500 cryptocurrency exchanges up and running globally, which means you’re going to have to take a while to research them and narrow down your options. To get started, it helps to know what to look for in an exchange platform, and so we’ve come up with a basic list of criteria you’ll need to pay attention to. One of the most important things for every user should be the exchange’s security features and its trustworthiness, as you’ll want to ensure your funds don’t just suddenly disappear. In addition, you’ll need to…
On-chain data shows exchanges have continued to receive stablecoin deposits recently, a sign that could be bullish for Bitcoin and other digital assets. Stablecoin Exchange Netflow Has Remained Positive Recently As pointed out by an analyst in a CryptoQuant Quicktake post, stablecoins have been flowing into exchanges recently. The on-chain metric of relevance here is the “Exchange Netflow,” which keeps track of the net amount of a given asset that’s moving into or out of the wallets associated with centralized platforms. When the value of this metric is positive, it means the investors are making net deposits of the coin…