Author: NBTC
In a significant development that could bring a glimmer of hope to countless individuals affected by the FTX collapse, Solana-based crypto exchange Backpack exchange is reportedly taking a bold step. After its previous acquisition of the defunct FTX EU, Backpack is now setting its sights on acquiring FTX claims from users in challenging regions like China and Russia. This move, if successful, could redefine the landscape of crypto recovery and offer a much-needed lifeline to those who have struggled to reclaim their assets. Backpack Exchange’s Bold Strategy: Expanding its Reach The cryptocurrency world is no stranger to dramatic shifts, and…
Bitcoin mempool activity has hit an all-time low, miners’ fee revenue has declined, and some in the crypto community are sounding alarms about the world’s most valuable blockchain’s long-term sustainability. According to data from Blockchain.com, just a few thousand unconfirmed transactions remain in Bitcoin’s mempool as of press time, down from hundreds of thousands during peak periods like the post-halving Rune mint frenzy. Fee revenue now accounts for less than 0.5% of miner income, far below levels seen in previous bull markets. “Simply put, almost all of Bitcoin’s actual users have gone away. At all-time price highs, too,” wrote Joel…
Bitcoin has once again broken higher, pushing through key resistance zones and extending its bullish momentum. After multiple attempts to reclaim the previous all-time highs, the market has finally shifted gears, with bulls regaining control amid a backdrop of improving sentiment and a strong technical structure. Now, the main question is how far can BTC reach? The Daily Chart On the daily timeframe, the breakout has been clean and convincing. The price surged through the $100K resistance zone, followed by a swift rally toward the $110K mark. The bullish structure remains intact, with the 100-day and 200-day moving averages providing…
The S&P 500 broke through 6,300 for the first time in history on Tuesday, as rising demand for crypto stocks and tech names sent U.S. markets higher across the board. This happened just a day after Wall Street posted small gains even with President Donald Trump threatening 30% tariffs on Mexico and the European Union, starting August 1. According to CNBC, stock futures were already flashing green before the open. S&P 500 futures rose 0.3%, Nasdaq 100 futures climbed 0.55%, and Dow Jones futures moved up just 13 points, or 0.03%. Monday’s session had already closed in the green. The…
Toncoin (TON), a popular blockchain project affiliated with Telegram, has signed a remarkable partnership with the United Arab Emirates (UAE). According to the official announcement, TON users will now be able to stake $100,000 in TON and earn a 10-year UAE Golden Visa. According to the information shared on Toncoin’s website, the details of the program are as follows: Application Requirements: $100,000 worth of TON tokens will be staked for 3 years. During this time, the tokens will remain locked. A one-time processing fee of $35,000 will be charged. According to the official website, the program features will be as…
Changpeng Zhao, widely known in the crypto community as CZ, has shared some reminiscences with the army of his followers on the X social media. The photo he published showed one day from the life of the Binance team before the exchange was launched. This took place as Binance celebrates the 8th anniversary of its foundation which occurred in 2017. The secret of building the world’s largest exchange from CZ CZ shared a throw back to 2017, one of the days when Binance was being launched. On that day, he tweeted, he had the dinner for the whole team delivered…
Cryptocurrency analyst Benjamin Cowen is saying that Bitcoin (BTC) could be on the verge of a pullback after soaring to new all-time highs. In a new strategy session, Cowen tells his 898,000 YouTube subscribers that Bitcoin is on the cusp of forming a golden cross pattern on the daily time frame. A golden cross pattern occurs when a 50-day moving average crosses above the 200-day moving average. Cowen says that while the golden cross pattern is typically bullish, it has previously led to Bitcoin “dumps” in the past. “My prior experiences with golden crosses influenced me to think that with…
With its market valuation surpassing that of established behemoths like Nintendo, Dior, Siemens and BNP Paribas, Coinbase has formally entered the $100 billion club. With its share price hovering around $394, this milestone not only emphasizes Coinbase’s own comeback but also the general upturn in the cryptocurrency industry as a whole. Coinbase’s rise appears to be parabolic, but it is actually the result of a fundamental change in public opinion. A year ago, Coinbase was trading below $60 due to declining volumes and regulatory uncertainty. With the help of redoubled institutional involvement and consistent spot Bitcoin ETF inflows, the company…
The digital frontier of finance is constantly evolving, and with it, the regulatory landscape. For many, cryptocurrencies represent a path to financial freedom, but for tax authorities worldwide, they also present new challenges, particularly when it comes to offshore activities. In a significant development for the crypto community, South Korea’s tax chief nominee, Lim Kwang-hyun, has made a powerful pledge: a severe crackdown on crypto-based offshore tax evasion. This announcement signals a new era of vigilance from the National Tax Service and a clear message to those who might be sidestepping their fiscal responsibilities. South Korea Crypto Tax: A New…
Major crypto exchange Binance has issued an important risk warning to its users, particularly those who provide DEX liquidity. In a recent release, Binance shares an important warning and user safety guidance regarding Binance Alpha, a platform within the Binance Wallet that focuses on early-stage crypto businesses with potential for growth within the Web3 ecosystem. Binance Alpha is a prelisting token selection pool that aims to increase openness in the token evaluation process for Binance exchange listings. Binance revealed that it had discovered certain suspicious, coordinated activities aimed at profiting from users who provide DEX liquidity. Common red flags include…