Author: NBTC
Despite reaching $60,000, Bitcoin has not exceeded its 2021 all-time high Altcoins have suffered losses, with some dropping 60% to 90%, largely due to their smaller market capitalizations. The cryptocurrency market has been in a correction since April, characterized by short recoveries that haven’t led to sustained growth. Bitcoin, the world’s largest digital currency, has surged to the $60,000 mark. However, it hasn’t reached its all-time high (ATH) from 2021. Compared with the fall in other cryptocurrencies, some altcoins have recorded a 60% to 90% fall. The Stagnation at the $60K Mark The recent market movements have raised questions among…
BlackRock has now surpassed the Ethereum Foundation in terms of Ethereum [ETH] holdings, reinforcing its influential position in the market. The firm’s ETHA product is approaching a significant milestone, with net inflows poised to hit the $1 billion mark soon. Ryan Lee, Chief Analyst at Bitget Research, posits that the current low ETH gas fees could indicate a price bottom, suggesting a potential mid-term rebound. BlackRock’s dominance in the ETH market signals promising mid-term prospects for the cryptocurrency, with major inflows and strategic positioning. BlackRock Surpasses Ethereum Foundation in ETH Holdings In a notable development, BlackRock has exceeded the Ethereum…
In a recent interview, Sunny Lu, CEO and Founder of VeChain, explained the innovative platform’s real-world use as it transforms businesses using blockchain. By tracking products, optimizing supply chains, and promoting transparency, VeChain solidifies its position as a suitable blockchain that helps businesses track and manage their supply. In a recent interview, Sunny Lu, CEO and founder of VeChain, a blockchain platform that helps businesses track and manage their supply, discussed how VeChain’s blockchain technology is revolutionizing luxury goods, food safety, and sustainability. According to Sunny, Vechain’s sole purpose is to mitigate the gap between traditional business practices and the…
Tyler Winklevoss, co-founder of crypto exchange Gemini, has called on the 50 million American cryptocurrency owners to unite and press Vice President Kamala Harris to fire U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler before the upcoming presidential election in November. He believes this action could end the “war on crypto” and make the crypto issue bipartisan. Gemini Co-founder Urges Crypto Investors to Pressure VP Kamala Harris to Fire Gary Gensler Tyler Winklevoss, co-founder of cryptocurrency exchange Gemini, took to social media platform X on Friday to highlight the political power held by 50 million Americans who own cryptocurrency.…
Jamie Coutts, chief crypto analyst at Realvision, has issued a bullish forecast for Bitcoin, suggesting that BTC is on the verge of a significant rally. Coutts’ optimism stems from his observation that central banks around the world are easing monetary policy and injecting liquidity into the global economy. He cites a composite global liquidity momentum model that has recently signaled a shift to a bullish regime, similar to the conditions that preceded a 75% Bitcoin rally in late 2023 and early 2024. In recent weeks, the central banks of Japan and China have provided significant liquidity, helping to expand the…
More and more institutional investors are considering 50/50 splits between Bitcoin and Ethereum ETFs. In the words of Vance Spencer, co-founder of Framework Ventures, this trend is revolutionizing the cryptocurrency investment space. He has also suggested that in the future, everyone will be investing half of their wealth in Bitcoin and half in Ethereum. Ethereum ETFs Gain Ground with Institutional Investors More institutional capital is pouring into Ethereum ETFs. Spencer pointed out that Ethereum ETFs are gradually becoming competitive with Bitcoin ETFs in terms of attracting investment flows. This is significant because Bitcoin ETFshave been the most popular products in…
Cardano Founder Charles Hoskinson responded to Ben Armstrong’s comments about ADA status as a ‘dead coin’. Hoskinson’s reply sparked a conversation about the state of the crypto industry and what’s valued in projects. Cardano And Polkadot Labeled ‘Dead Coins’ On Wednesday, crypto influencer Ben Armstrong, known as BitBoy Crypto, shared his thoughts on Cardano (ADA) and Polkadot (DOT). The influencer took X to explain his previous comments, stating that both cryptocurrencies were dead. In a YouTube Video from April, Armstrong said that ADA was “dead for real.” The crypto influencer believed that this time “was different.” To him, investors had…
Shaquille O’Neal will have to defend himself against some of the allegations in a class action lawsuit against him concerning the promotions he did for the Astrals NFT project. The court did dismiss the allegation that O’Neal was a “control person,” meaning someone who exercised actual power. A U.S. court has granted one part and dismissed another part of a class action lawsuit against legendary basketball player Shaquille O’Neal for his role in the NFT project Astrals, according to court documents filed on Friday. Astrals was a project involving a collection of 10,000 non-fungible tokens (NFTs) 3D avatars and a…
The Bitcoin asset landscape continues to evolve with major institutions accumulating large amounts of BTC. Here’s a look at the top 10 Bitcoin holders: Satoshi Nakamoto: 1.1 million BTC Binance: 550,133 BTC BlackRock: 347,767 BTC Grayscale: 263,801 BTC MicroStrategy: 226,500 BTC Bitfinex: 221,315 BTC US Government: 213,246 BTC Chinese Government: 190,000 BTC Fidelity: 176,626 BTC Block One: 164,000 BTC In related news, U.S.-listed spot Bitcoin ETFs saw net outflows of $81 million on Wednesday, marking the end of a two-day positive streak. Grayscale’s GBTC saw the most outflows at $56 million, followed by Fidelity’s FBTC at $18 million. Ark Invest’s…
The accumulation of Ethereum (ETH) by large investors, known as whales, has recently intensified. Despite a recent price drop, some analysts predict Ethereum could soon reclaim the $2.9k mark. A noteworthy transfer of 12,461 ETH to an exchange suggests increased selling pressure in the short term. Ethereum’s current market dynamics involve a tug-of-war between investor selling pressure and whale accumulation. Surge in Ethereum Whale Accumulation In recent weeks, Ethereum has seen a marked increase in the amount held by top addresses. This trend is significant as these large wallet holders, often referred to as whales, have a considerable impact on…