Author: NBTC
Ethereum price witnesses a 24-hour drop of up to 5.78%, as its Relative Strength Index (RSI) hits lowest level since August 2023, suggesting oversold conditions. Market veteran Michael van de Poppe, disclosed this in a recent report. This sharp decline indicates significant bearish momentum, suggesting Ethereum might be oversold. Furthermore, altcoins have reached their lowest RSI levels, either historically or for this cycle, indicating a widespread market capitulation. #Ethereum reaches the lowest RSI (Daily) since the collapse in August ’23.#Altcoins have reached their lowest RSI (Daily) ever or of this cycle. Clear capitulation. pic.twitter.com/9eehaITkQI — Michaël van de Poppe (@CryptoMichNL)…
DWF Labs has announced the launch of a $20 million Cloudbreak Fund. It aims to empower promising projects and founders in Chinese-speaking regions with substantial investments and strategic resources. The Cloudbreak Fund is open to projects in GameFi, Derivatives, SocialFi, Memecoins, and Layer 1/Layer 2 infrastructure. DWF Labs Unveils Cloudbreak Fund to Elevate Local Web3 Ventures This fund demonstrates that DWF Labs is serious about supporting and promoting Web3 innovation. Namely, it revolves around offering localized projects the chance to present their ideas to the world and expand the utilization of Web3. The Cloudbreak Fund is open to projects in…
Last week, PayPal announced the expansion of its stablecoin PYSUD to Solana, marking the first move beyond the Ethereum blockchain. Industry players shared with Crypto Briefing that this movement solidifies Solana as one of the ‘big three’ blockchains, highlighting that the blockchain and institutions make sense. Ran Goldi, VP of Payments at Fireblocks, points out that Solana is now “harvesting the fruits” of the work done for the past three years. He adds that Solana’s infrastructure allows payment companies to leverage its blockchain to mimic their existing flows and operations while offering new payment constructs and attributes to unlock new…
The cryptocurrency market has seen the strong progress of Bitcoin for a while now. However, in the recent landscape, there seems to be a temporary pause in the coin’s rise. Bitcoin tripled its value in 2021, but it backfired this time right after crossing the previous all-time high. For the last two months, the coin had been trading sideways. The pause brings to the question: what will drive the coin to break this phase? The current structure suggests there is still much potential for growth in this cycle. What is the market waiting for?“Current market structure, including factors like profitability,…
How will the recent market crash impact Ethereum price prediction? Experts weigh in on potential outcomes. Table of Contents What’s next for Ethereum? Experts take on what is brewing? Ethereum price prediction: a bounceback possible? FAQs The crypto market experienced extreme turbulence over the past 24 hours. Bitcoin (BTC), the leading cryptocurrency, plummeted to a new low of $53,700 on July 5. The market-wide sell-off intensified following reports that Mt. Gox, the infamous collapsed crypto exchange, transferred over 47,000 BTC (worth approximately $2.6 billion) to a new wallet in preparation for a large-scale payout totaling about 142,000 BTC (valued at…
In June, the U.S. Federal Reserve said inflation had shown signs of easing but remained above its 2% target range, according to minutes released on Wednesday. U.S. economic activity has continued to expand at a solid pace, though growth in Real Gross Domestic Product for the year is expected to be below the strong pace recorded in 2023. Declining inflation is desirable for risk assets, including Bitcoin, as it would give the Fed confidence to begin lowering interest rates this year — effectively making the cost of borrowing cheaper. In the short term, crypto prices may continue to feel the…
In a remarkable display of market activity, a prominent crypto whale has recently made significant moves in the FTM market, signaling potential bullish sentiment among investors. This individual withdrew a substantial 2.96 million USDC from Aave and utilized 2.23 million USDC to acquire 2.82 million FTM at $0.79 each, leaving them with 736,000 USDC. This transaction coincides with a slight recovery in FTM’s price, which is currently at $0.806, up 2.6% over the last 24 hours, following a two-week 8% downturn. Whale Activity Sparks Market Interest The transaction details provided by Lookonchain highlight the strategic maneuvers often employed by large-scale…
The cryptocurrency market is currently under selling pressure, with Bitcoin, the biggest digital currency, dropping below the $62,000 mark. This downturn has placed approximately 5.1 million Bitcoin addresses in a precarious position, potentially risking losses. According to IntoTheBlock data, 5.1 million Bitcoin addresses, roughly 10% of the total addresses, bought BTC above $62,000 and the ATH of $72,500. Bitcoin traded above $62,000, around $62,540, at the time of IntoTheBlock’s post. 5.1 million Bitcoin addresses, roughly 10% of the total addresses, bought $BTC between the current price and the ATH of $72,500. pic.twitter.com/XNQUIT2iYJ — IntoTheBlock (@intotheblock) May 13, 2024 At the…
A closely followed crypto analyst is issuing a warning to investors saying that smart contract platform Ethereum (ETH) could plummet by up to 26%. Pseudonymous crypto strategist Credible Crypto tells his 402,300 followers on the social media platform X that the top altcoin has likely not yet found a market bottom. The analyst looks at ETH’s open interest (OI) – which tracks the total number of outstanding derivatives contracts for a given asset – and believes it remains overweight despite Thursday’s price collapse. “When we look at OI in coin terms (below) we can see that the big flush on…
Kavak, one of the largest Latam-based startups in the used car business, has issued tokenized debt to invest in the Brazilian car market. According to local sources, the company has already tokenized almost $1 million in commercial notes using Liqi, a tokenization platform, and aims to issue over $5 million. Kavak Bets on Tokenized Debt to Attract $5 Million in Capital Tokenized debt offerings are becoming a reality in Brazil. Kavak, a Mexico-based used car market-focused startup, has issued debt for almost $1 million using tokenized notes to obtain liquidity and working capital in Brazil. The offering, which was intermediate…