Author: NBTC
Crypto analyst Nicholas Merten has given an insight into the future trajectory of the Bitcoin price, suggesting that the flagship cryptocurrency may experience turbulent times ahead. The Calm Before The Storm For Bitcoin In a recent episode of his YouTube channel DataDash, Merton mentioned that Bitcoin, other altcoins, and the broader asset market were on the brink of a major move as several macro factors were coming together. He further went ahead to discuss how these different “dominos” could “potentially cause a lot of pain in the economy.” The first macro factor he mentioned was equities. According to him, the…
Ethereum (ETH), a significant player in the crypto space, has recently come under scrutiny due to some concerning on-chain activities. Notably, the number of addresses holding significant amounts of Ethereum has declined, and some long-term holders appear to be liquidating their positions, potentially posing threats to Ethereum’s value. Whale Watch: A Steep Decline In Ethereum Holdings On-chain analytics have been instrumental in offering real-time insights into crypto market trends. Recent revelations have highlighted a downturn in Ethereum’s holding patterns that might have deeper implications for the digital asset’s value and the market. According to Glassnode, a leading on-chain analytic platform,…
Ethereum’s price may have been dealt a massive blow as a research report on the Ethereum valuation has revealed that the cryptocurrency giant has been trading below its fair price. Ethereum Trading Value Slips A new on-chain research report has delved deep into the fair value of the Ethereum cryptocurrency since its inception, segregating the cryptocurrency’s value into sections and utilizing its trading activities and active addresses to evaluate the network’s worth over the past years. Lewis Harland, an RxR analyst, revealed in the research report that Ethereum has been trading below fair value by a 27% discount. The analyst…
On the back of its partial victory against the US Securities and Exchange Commission (SEC), Grayscale has applied to the Commission for another Ethereum Futures Exchange-Traded Fund (ETF). Why Another ETH Futures ETF? According to a report by the Wall Street Journal (WSJ), Grayscale Investments filed this application on September 20. This development may come as a surprise to many, considering that the asset manager had filed an earlier application to offer this same investment vehicle. As such, this will represent its third application (Grayscale withdrew its first application due to SEC concerns before filing another one in July). There…
Movement of dormant Bitcoin addresses has been sporadic this year, with most causing a stir and rising interest amongst the Bitcoin community. In the latest record of whale transactions this year, on-chain data has shown that a set of dormant Bitcoin from 2017 has moved for the first time in six years. Peckshield, a blockchain security and data analytics firm, revealed in a tweet that the previously inactive address, which held 2,100 BTC has just become active, with its assets now transferred to a different address. Whale Wakes Up From Slumber, Moves $56 Million According to data from BitInfoCharts, this…
The primary-ever Metaverse Structure Biennale is ready to begin in Decentraland from September 21-24. This occasion, organized by Dearch Area, W3rlds, and Metancy, seeks to mix structure’s modern sides with the quickly evolving Web3 ecosystem. Decided to spotlight the transformative potential of mixing architectural brilliance with digital know-how, the organizers have curated a wealthy program for attendees. Beneath the theme ‘Presence of the Future’, guests can anticipate an immersive expertise that includes over 30 digital builds created by architects from throughout the globe. The primary-ever Metaverse Structure Biennale involves Decentraland Sept 21-24!🏛️ 30+ futuristic pavilions from worldwide architects🎤 Partaking Panel…
The chief govt of digital asset administration large Grayscale says US regulators have an opportunity to permit America to dominate the crypto area. In a brand new interview with Yahoo Finance, Grayscale CEO Michael Sonnenshein says crypto’s market cap continues to be “fairly small and in its infancy” in comparison with the broader monetary areas. Based on Sonnenshein, for crypto to even catch the attention of such main entities like G20 and the Worldwide Financial Fund (IMF) is a big validation for the know-how. The Grayscale CEO says that non-partisan motion in Washington that engages with crypto business leaders is of giant…
Bitcoin has been trending up since hitting a local low below $25,000 on September 11th. Yesterday’s rally to $27,435 marked a 10% increase from the recent low. As NewsBTC reported, the rally was largely led by the futures market and a massive increase in open interest of over $1 billion, more than half of which was flushed out when BTC fell back below $27,000. Despite this, BTC is up around 7.5% from last week’s low. A reason to be bullish? Glassnode Report Sheds Light On Market Sentiment According to Glassnode, the Realized HODL Ratio (RHODL) serves as a crucial market…
An Ethereum initial coin offering (ICO) participant and one of the earliest supporters of the smart contract platform has moved 6,000 ETH worth $9.96 million to Kraken, a cryptocurrency exchange, recent data from Lookonchain on September 18 reveals. The unidentified whale received 254,908 ETH when each traded for 40.31 during the crowdfunding in 2014. This amount is currently worth over $466 million at spot rates. ETH whale transfer: Etherscan Ethereum Whale Transfers Over $9.96 Million To Kraken The anonymous nature of public blockchains, including Ethereum, makes it harder to decipher the owner’s identity. Determining whether an entity or an individual controls the…
The Bitcoin price is sustaining its bullish momentum from the previous day. Today, it surpassed the $27,000 threshold, a level not seen since August 31. Notably, BTC recorded its first green weekly closing candle in five weeks yesterday. As of press time, the Bitcoin price has reached an intra-day high of $27,267. Why Is Bitcoin Price Up Today? One major indicator that has captured analysts’ attention is the rapid increase in Open Interest. DaanCrypto, a noted figure in the crypto space, commented on the Open Interest of Bitcoin: “Bitcoin Open Interest has been ramping up like crazy these past few…