Author: NBTC
Solana’s daily address creation exceeds 5 million, showing massive network growth. A peak of 9 million daily addresses matched Solana’s price highs in late 2024. Sustained adoption and real-world use are crucial for long-term success. The Solana network is witnessing exponential growth, with over 5 million new addresses created daily, as highlighted by analyst Ali . This spike in user activity reflects the network’s growing adoption and appeal within the blockchain ecosystem. Over the past year, the consistent rise in both new addresses and Solana’s price suggests a robust correlation between user growth and market performance. The #Solana $SOL network…
whichHyperliquidity Provider (HLP), a market making vault that is a part of derivatives exchange HyperLiquid, faced a grueling loss after a trader allegedly manipulated the price of the JELLY token. HyperLiquid’s native token (HYPE) fell by 20% after HLP’s unrealized PNL temporarily stood at negative $13.5 million. According to Lookonchain, a trader that held $4.85 million of the JELLY token combined a short trader on HyperLiquid with on-chain spot buys, this liquidated the position on HyperLiquid and essentially meant HLP inherited that short position. HLP is an automated market making bot that ties in with the exchanges liquidation engine. The…
Veteran crypto investor Chris Burniske believes that Bitcoin (BTC) and crypto are in the midst of a mid-cycle correction, similar to what was witnessed nearly four years ago. Burniske tells his 319,600 followers on the social media platform X that Bitcoin appears to be in the same phase as the April 2021 correction, when BTC printed a mid-cycle top before surging to fresh record highs toward the end of the year. “I don’t think this is a sign of cycle top, but rather a mid-bull pullback that makes everyone question god. Feels a lot more like April, May, June of…
The price of coins like BANANAS31 and ANDY has spiked over 200% while the overall crypto market remains bearish. According to CoinMarketCap data, the overall crypto market still remains bearish with just a 1.5% surge in global crypto market cap in the last 24 hours. Bitcoin (BTC) and Ethereum (ETH) are showing struggle at the $96,000 and $2,600 levels respectively. However, as per CoinGecko data, Banana For Scale (BANANAS31) is the top gainer with over a 300% surge in the last 24 hours. The coin’s price has surged as high as $0.003756 from a 24-hour low of $0.0008696. BANANAS31 24H…
British multinational fintech company Revolut is leveling up its stand-alone crypto exchange platform. Over the past year, leading U.K. fintech Revolut has been angling to better compete with crypto exchanges like Binance and Coinbase. To this end, the firm launched Revolut X in 2024 as a stand-alone crypto exchange platform for professional traders in the U.K. In November 2024, it expanded this platform to 30 countries in the European Economic Area. Now, the firm has taken another step in line with its ambitions. In a Tuesday, March 25 press release shared with The Crypto Basic, Revolut disclosed that it was…
The cryptocurrency market is set for an eventful week with major developments in various altcoins and broader macroeconomic factors. Crypto analyst The DeFi Investor has outlined the key events to watch between February 10 and February 16. There are rumors that CME may launch futures products for XRP and Solana tomorrow. Decentralized finance (DeFi) protocol AAVE (AAVE) will be available on Sonic and Linea next week. Bittensor (TAO) will be undergoing its most significant upgrade to date with the dTAO upgrade scheduled to begin on February 10. Public cryptocurrency exchange Coinbase (COIN) will announce its earnings report on February 13.…
Solana decentralized exchange Raydium says it’s going live in the next week with its “flexible” token launchpad, which will address what have become user pain points on its soon-to-be competitor Pump.fun. The new platform, LaunchLab, will allow users to adjust a token’s bonding curve and tokenomics, while still offering a user-friendly cookie cutter option. Previously, Raydium had simply operated as an automated market maker and decentralized exchange on Solana; while Pump.fun rapidly grew to become the most popular token launchpad due to its quick and easy experience. When tokens reached a certain market cap on Pump.fun, they used to “graduate”…
A momentum indicator that presaged bitcoin’s (BTC) post-election price surge has now turned negative, coinciding with President Donald Trump’s tariff rhetoric, which threatens to destabilize markets. Still, there’s no need to panic just yet. That indicator is the moving average convergence divergence (MACD) histogram, which is used to gauge trend strength and changes. It’s calculated by subtracting bitcoin’s average price level during the past 26 periods (weeks in this case) from the average over the past 12 weeks. The signal line is then calculated as a nine-week average of the MACD and the difference between the MACD and signal lines…
Analysts at the crypto analytics platform CryptoQuant have released a Tron network review, outlining how the ecosystem grew from a Tether (USDT) “powerhouse” to a decentralized finance (DeFi) hub in 2024. According to the report shared with CryptoPotato, Tron experienced the diversification of its on-chain activity, evolving from just a network with dominant USDT activity to one with significant decentralized trading and meme coin creation. Tron saw the launch of several applications, like the decentralized exchange SunSwap and meme coin launchpad SunPump, which fostered its growth in the DeFi space. Tron as a USDT Powerhouse Over the years, USDT has…
As Bitcoinsistemi.com, we are explaining to you the critical event that happened today, which is important for the cryptocurrency market and perhaps constitutes today’s agenda, but is also confusing. It all started when a crypto whale opened a massive $6 million short position in an altcoin called JELLYJELLY, which has a small market cap of $20 million today on decentralized cryptocurrency exchange Hyperliquid. After the whale opened this position, the JELLYJELLY price increased due to the short squeeze, and this whale was liquidated, in other words, he deliberately sabotaged himself, leaving the Hyperliquid platform with a dangerous short position of…