Author: NBTC

Ethereum’s price action in the past seven days has seen it finally touch the $3,000 resistance zone for the first time in months. This interesting move comes amid growing institutional attention caused by the massive inflows into Spot Ethereum ETFs and Bitcoin’s recent climb to new all-time highs. Ethereum has gained over 17% in the past seven days alone, reaching a new local high of $3,065. Interestingly, bullish technical structures are starting to emerge that could send the ETH price soaring toward new all-time highs. Two analysts have now spotted classic bullish setups, both hinting at a significant rally on…

The Bank of Korea (BOK) Governor Lee Chang-yong has expressed concern about the issuance of won-denominated stablecoins by non-bank entities. He shared his concerns during a press conference after the BOK’s Monetary Policy Committee decided to maintain the base interest rate at 2.50%. BOK Governor is worried about future confusion The topic of stablecoins has taken center stage in various countries, and South Korea is no different. However, despite the idea’s popularity, the Bank of Korea has often urged caution on the matter. As such, it did not surprise many when the BOK’s governor expressed concern at a press conference…

Over the past week, the SHIB community has managed to achieve significant progress in removing SHIB meme coins from the supply that is circulating in the market – a ten-figure amount of SHIB has been burned. As for the daily burns, there has also been a significant rise, though it’s only in the four-digit percentage range. 1.3 billion SHIB gets burned within week According to data provided by the “Shibarium/BONE updates” (@Shibizens) affiliated with the Shiba Inu team, during the past seven days, the SHIB community has succeeded in burning a staggering chunk of meme coins comprising 1,338,380,740 SHIB. The…

Key Takeaways The Thai SEC and central bank has introduced a crypto sandbox to allow foreign tourists to convert digital assets into baht for local spending. Direct crypto payments are prohibited, and converted funds must be used via regulated e-money platforms across Thailand. Thailand’s Securities and Exchange Commission (SEC) and the Bank of Thailand plan to launch a crypto regulatory sandbox that enables foreign tourists to convert crypto assets into baht for local spending, expanding beyond an earlier Phuket-focused initiative, the Bangkok Post reported on Wednesday. Thailand’s new initiative, currently open for public hearing, would allow tourists to exchange crypto…

Bitcoin price remained near its all-time high after a stellar surge on May 21, with bulls largely in control as the market eyed price discovery. After hitting highs of $111,861, Bitcoin (BTC) traded to around $110,300 before rebounding higher. Despite the spike to a fresh peak, with Bitcoin outpacing the Dow Jones Industrial Average as stocks struggled, the market hasn’t witnessed a significant profit taking scenario so far. What are analysts saying about Bitcoin price? Notably, all BTC addresses flipped profitable as the cryptocurrency rallied. Yet on-chain data shows the benchmark digital asset is “still not overheated.” CryptoQuant analyst Crypto…

A growing number of investors are starting to shift their liquidity from traditional instruments like Treasury bills and money market funds into decentralized finance (DeFi) platforms, as anticipation builds around possible U.S. Federal Reserve rate cuts. On-chain data and financial trends show that a portion of the trillions of dollars tied to fixed-income assets is preparing to move into decentralized, yield-generating strategies. DeFi stablecoin lending has emerged as a major beneficiary of this trend. What can you do to frontrun rate cuts like Smart Money?Accumulate major public network tokens where Genius Act issuers can issue their Stable Coins ($SOL $SUI…

Ethereum price started a fresh increase above the $3,020 zone. ETH is now consolidating gains and might correct lower toward the $3,040 zone. Ethereum started a fresh increase above the $3,040 level. The price is trading near $3,050 and the 100-hourly Simple Moving Average. There was a break above a bearish trend line with resistance at $2,990 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh increase if it remains supported above the $3,000 zone in the near term. Ethereum Price Extends Gains Above $3,000 Ethereum price started a fresh increase above the…

Digital assets platform Nexo reported a 72% year-over-year rise in crypto-backed borrowing through the Nexo Card as users choose to hold their assets instead of selling, as per the information shared with Finbold on July 10. Nexo’s 2024 Card Report shows that over 100,000 Bitcoin (BTC) and 750,000 Ethereum (ETH) avoided being sold through users accessing the Nexo Card’s collateralized credit line. Weekly card transaction frequency jumped by 324% across the European Economic Area. “Today, people don’t want to choose between their financial future and their present needs — and the Nexo Card reflects that,” noted Chief Product Officer Elitsa…

A JPMorgan paper highlights that the VeChain blockchain can enhance cloud computing by addressing issues such as data security, vendor lock-in, and trust. The study notes VeChain’s Proof-of-Authority consensus as a low-energy, high-efficiency solution suitable for enterprise adoption. The business-oriented blockchain-focused network VeChain (VET) has won another recognition on the academic front, but this time for its innovative work of modernizing cloud computing. A peer-reviewed study article published recently in the Journal of Computer, Signal, and System Research highlighted VeChain as a notable example of blockchain in the real world, addressing concrete issues in corporate infrastructure. VeChain Gains Academic Recognition…

Australia’s financial intelligence agency declared crypto a top threat in its financial crime crackdown Wednesday, announcing regulatory priorities that mark the “most ambitious overhaul of Australia’s anti-money laundering laws in a generation.” The Australian Transaction Reports and Analysis Centre CEO Brendan Thomas said the agency would prioritize enforcement where “the risk of harm is greatest,” highlighting digital currency exchanges and virtual asset service providers that facilitate instantaneous global transfers. “This year marks a regulatory shift – from regulation that primarily checks for compliance to one focussed on substantive risks and harms,” Thomas said in Wednesday’s statement. The expanded regulatory net…