Author: NBTC
Ethereum price is attempting to recover from the $2,500 zone. ETH might gain bullish momentum if it clears the $2,740 resistance zone. Ethereum started a fresh decline below the $2,700 level. The price is trading below $2,700 and the 100-hourly Simple Moving Average. There is a connecting bearish trend line forming with resistance at $2,700 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a decent upward move if it settles above $2,700 and $2,740. Ethereum Price Eyes Upside Break Ethereum price started a fresh decline after it failed to clear the $2,920 resistance, like…
USDE is the flagship stablecoin product of Arthur Hayes-backed Ethena Labs. It’s a synthetic dollar that uses a “delta-neutral” strategy to maintain its peg with the U.S. dollar. USDE is Quietly Leading the Niche Stablecoin Market The $212 billion stablecoin market is currently dominated by Tether (USDT) and USDC, but a new entrant has quietly risen to third place less than a year after launching. Ethena Labs launched USDE in February 2024 as a yield-bearing crypto-native synthetic dollar that purports to use derivative instruments to eliminate the volatility of the stablecoin’s crypto collateral, a strategy known as delta hedging. The…
Robert Kiyosaki, the author known for “Rich Dad Poor Dad” financial literacy books, is buying more Bitcoin after the cryptocurrency surpassed the $100,000 milestone. Earlier this month, he predicted that the cryptocurrency could surge all the way to $350,000 this year. Bitcoin’s comeback Earlier today, the price of Bitcoin reached an intraday high of $102,514 on the Bitstamp exchange. This is the highest level reached by the cryptocurrency since Dec. 19. Bitcoin has now rallied by more than 12% since plunging to a local low of $91,315 on Dec. 30. According to cryptocurrency analytics platform Lookonchain, a whale turned a…
DeFi sector development activities have skyrocketed as Chainlink, DeepBook, and DeFiChain demonstrate the highest ranking. These projects show substantial growth based on the data from Santiment which indicates developer commitment and market footprint expansion. Development activity analysis shows these ten DeFi projects as the leaders during the past thirty days. 🧑💻 Here are crypto’s top 10 DeFi projects by development. Directional indicators represent each project’s ranking positioning since last month:📈 1) @chainlink $LINK 🥇📈 2) @deepbookonsui $DEEP 🥈📈 3) @defichain $DFI 🥉📉 4) @synthetix_io $SNX📈 5) @coinbase $CBBTC📈 6)… pic.twitter.com/kAgVJHJkjD — Santiment (@santimentfeed) February 10, 2025 Chainlink Maintains Its Dominance…
Ethereum (ETH), the second-largest cryptocurrency by reported market cap, is facing unprecedented short selling from hedge funds. Notably, short positions in ETH have soared by 500% since November 2024, indicating heightened bearish sentiment toward the digital asset. Institutional Investors Losing Faith In Ethereum? According to a recent post on X by The Kobeissi Letter, Ethereum price is witnessing mounting challenges as short positioning in the cryptocurrency has ballooned in recent times. Notably, ETH short positions are up 40% in the last week, while they are up 500% in the last three months. It is worth highlighting that this is the…
In a latest development, Charles Hoskinson, founder of Cardano, has criticized the U.S. Agency for International Development (USAID) for funding a book that links Bitcoin to right-wing extremism. WikiLeaks recently revealed that USAID funded a book connecting Bitcoin and cyberlibertarianism to right-wing ideologies. The book, Cyberlibertarianism: The Right-Wing Politics of Digital Technology, authored by David Golumbia, links Bitcoin to extremist ideologies. Published by the University of Minnesota Press, it reportedly received over $80,000 in funding from the U.S. government, according to WikiLeaks. Hoskinson expressed his frustration on social media, calling this portrayal of Bitcoin “garbage.” So apparently, USAID is funding…
In a significant development within the cryptocurrency world, a whale recently unstaked a massive amount of Solana (SOL) tokens valued at approximately $45.85 million and transferred them to Binance, the world’s largest cryptocurrency exchange, just eight hours ago. This move is generating attention, as it not only reflects a strategic shift by a major player in the market but also raises questions about potential market implications, particularly regarding SOL’s price movement and liquidity. A whale unstaked 245,922 $SOL($45.85M) and deposited it to #Binance 8 hours ago.https://t.co/YqzWZSsHov pic.twitter.com/ohzoQNdURk — Lookonchain (@lookonchain) January 10, 2025 According to Lookonchain,The whale, whose identity remains…
MicroStrategy (MSTR) traders returned from their holiday break to disappointing returns on their leveraged bitcoin (BTC) stock. Over the past month, BTC has rallied 3% while MicroStrategy has declined 12%. This is despite founder Michael Saylor’s boasts of a 74.3% “bitcoin yield” for shareholders on a dilution-adjusted basis for the 2024 fiscal year. This includes his recent addition of 1,070 BTC to the company’s stack. As MicroStrategy’s tiny software business has declined to a de minimis portion of its market capitalization, investors value the firm based almost entirely on its BTC holdings. As of publication time, the company holds $45…
Transak is making it easier than ever to access Unichain, the Layer 2 blockchain scaling solution from Uniswap Labs. By integrating its powerful on- and off-ramp infrastructure, Transak is breaking down barriers for users looking to seamlessly buy and sell digital assets on Unichain using fiat currencies.—Uniswap Labs has played a key role in expanding the crypto ecosystem, but for many new users, navigating Web3 can still be complex. With Transak now supporting Unichain, onboarding into decentralized finance (DeFi) becomes more intuitive than ever. Users can now purchase cryptocurrencies directly on Unichain using a range of fiat payment methods, streamlining…
Some of it could also be outright bets on ETH. Hedge funds hold record short positions in ether (ETH) futures trading on the Chicago Mercantile Exchange (CME), raising questions about the motivations behind these positions. At first glance, the data could suggest that sophisticated market players anticipate price slides, as discussed on social media. However, this isn’t entirely accurate; carry trades or arbitrage plays primarily drive the record short interest, but some of these short futures trades represent outright bearish bets on the cryptocurrency, per observers. As of the week ended Feb. 4, hedge funds held a net short position…