Author: NBTC
Hong Kong’s Financial Services and the Treasury have issued a reply to the region’s Legislative Council on the state of BTC and other digital assets amid rising global interests. The Legislative Council had previously sent a raft of questions to the financial regulator to ascertain Hong Kong’s strategy toward digital currencies in the face of impressive adoption rates and price spikes. The parliamentarians, led by Johnny Ng, sent four questions to the regulator to obtain a clear report on the government’s stance toward digital currencies. The first one sought to verify whether the government would improve the legal regime for…
Bitcoin’s (BTC) recent breach of the $100,000 price level has sparked discussions among analysts about market conditions and potential risks — while some metrics suggest caution, others indicate room for further gains, according to analysts. VanEck head of digital assets research Matthew Sigel observed that only a few indicators suggest a market peak, leaving room for potential price increases. Sigel pointed to a low MVRV Z-Score, subdued search interest for “Bitcoin,” relatively stable BTC market dominance, and a simple moving average multiplier still in a moderate range. He also acknowledged elevated funding rates but emphasized that these have persisted without…
In May, JPMorgan Chase CEO Jamie Dimon warned of a potential return to stagflation this year, an economic condition marked by stagnant growth coupled with rising inflation. Now, with Donald Trump’s proposed Tariffs, economists are debating whether Jamie Dimon’s predictions will come true. Speaking to panelists at a conference, Dimon pointed to years of extraordinary fiscal and monetary stimulus as contributing factors, including the Federal Reserve’s hiking of interest rates at the time. “How can you tell me it won’t lead to stagflation?” he questioned. While Federal Reserve Chair Jerome Powell dismissed these concerns earlier this year, describing stagflation as…
The legal dispute between Ripple and the U.S. Securities and Exchange Commission (SEC) has sparked widespread discussion, with many viewing it as a crucial event for the crypto sector. Some believe the lawsuit aimed to block Ripple’s efforts to challenge established financial systems or compete with Ethereum, while others see it as a calculated move by Ripple to achieve broader objectives. A Different Perspective Vincent Van Code, a blockchain analyst, suggests that Ripple’s legal battle with the SEC may have been part of a carefully planned global strategy. According to him, the lawsuit might have been initiated to accomplish specific…
Bitcoin’s recent $100k milestone has many speculating about the timing. While Q4 is generally a bullish quarter, the surge in Bitcoin’s price reportedly came on the back of increased institutional demand and strong buying activity from the US. Buying pressure coincides with the holiday season, which may enhance market euphoria due to the “Holiday Effect.” Will the phenomenon intensify BTC price before 2024 ends? Bitcoin could hit another record high before year-end Bitcoin price surpassed $100k on December 4 for the first time, leading to celebrations within the crypto community. Bitcoin maintained the range before dropping under the crucial level…
India’s cryptocurrency market is rapidly evolving, with smaller cities and towns stepping up as active players in the digital assets space. A recent report by CoinSwitch says tier-2 and tier-3 cities like Botad, Jalandhar, Patna, Kanchipuram, and Dehradun are becoming increasingly active in the country’s crypto ecosystem. This marks a significant shift from the earlier dominance of major metropolitan areas like Delhi, Mumbai, and Bengaluru. This wave of growth is primarily driven by younger investors, many of whom are under 35, looking to diversify their portfolios with cryptocurrencies. The country now boasts over 2 crore crypto users, with a majority…
Shibarium is a layer 2 solution that aims to increase transaction speed and lower costs in the Shiba Inu ecosystem. The low scalability of the Ethereum network and costly gas fees have prevented the Shiboshi NFT Project, the Shib Metaverse, DEX features, and Shiba Inu games from ever reaching their full potential. Key highlights: Since launching in August 2023, Shibarium has handled 600 million transactions and surpassed 2 million addresses. By November 2024, the number of accounts topped 200,000. Shibarium processes transactions off-chain, reducing fees to as low as $0.01 compared to Ethereum’s $20+. This makes transactions faster and more…
Morocco aims to regulate the use of crypto assets without hindering innovation in the crypto ecosystem. Legal Framework for Crypto Nears Adoption in Morocco A legislative framework governing crypto assets in Morocco is almost ready for adoption, according to Abdellatif Jouahri, the governor of Morocco’s central bank, Bank Al-Maghrib (BAM). This framework seeks to promote financial innovation while regulating the usage of crypto assets. The central bank governor shared the key update at the BAM council’s final meeting for 2024 with the crypto regulation aligning with G20 recommendations and addressing the risks linked with crypto assets. According to the governor,…
Bitcoin (BTC) continues its historic climb, trading at $103,232 and boasting a market capitalization of $2.039 trillion, a milestone that cements its place as the seventh most valuable asset globally. This surge places its market cap at approximately 11.34% of gold’s $17.972 trillion valuation, highlighting its growing influence in the financial ecosystem. Bitcoin Soars to $103.6K: A New Era in Digital Finance On Dec. 4, 2024, bitcoin (BTC) crossed the $100,000 mark for the first time, an event that has reignited discussions about its long-term potential. With a market cap just below Google’s $2.143 trillion, BTC’s upward trajectory reflects increasing…
Ethereum briefly surpassed $4K but retraced to prior lows. Clearing the $4.1K resistance could open the path to $6K for ETH, according to an analyst. As December reaches midweek, the crypto market has shed 3.06% in market cap over the last 24 hours. Bitcoin price has edged up to $109K in the early hours and dipped steadily to $104K. The largest altcoin, Ethereum (ETH), followed BTC’s footsteps and failed to settle above the $4K zone. The altcoin is correcting its gains and might struggle to stay above the $3,865 support zone. ETH has formed a high of $4,029, while the…