Author: NBTC
Big news from South Korea! Kbank, the innovative neobank that serves as the crucial banking partner for the nation’s leading crypto exchange, Upbit, has officially joined the Open Blockchain & Decentralized Identifier Association (OBDIA). This move signals a growing interest from traditional financial institutions in the burgeoning world of blockchain technology and its potential applications, particularly concerning stablecoin regulation Korea. What is the Open Blockchain & Decentralized Identifier Association (OBDIA)? Founded in 2018 with backing from the Ministry of Science and ICT, OBDIA is a non-profit organization dedicated to fostering blockchain development Korea. Its mission revolves around exploring and promoting…
Bitcoin has entered a corrective phase after tagging the $111K region, following a strong multi-week rally. While momentum has cooled, the broader structure remains intact. The price action is showing signs of potential accumulation at support, and traders are watching closely to see if this pullback turns into a deeper correction or a fresh leg up. Technical Analysis By ShayanMarkets The Daily Chart On the daily timeframe, BTC is currently holding above the $103K region after sweeping the $101K sell-side liquidity. The previous bullish structure is still valid, and the price is likely targeting the mid-range of the ascending channel.…
In a move highlighting significant activity within the Ethereum ecosystem, a crypto wallet reportedly associated with blockchain technology firm Consensys has completed a substantial acquisition. This wallet purchased a considerable amount of ETH, specifically 17,864 Ether tokens, valued at approximately $49.6 million at the time of the transactions. The acquisition occurred within a 24-hour period and was facilitated through Galaxy Digital‘s over-the-counter (OTC) desk, according to on-chain data shared by analytics firm The Data Nerd on X. Understanding the Consensys Connection and Wallet Activity While the report links the wallet to Consensys, it is important to note that large organizations…
Cryptocurrency use in Venezuela has experienced significant growth in recent years. Key Points Cryptocurrency use in Venezuela grew by 110% in the second quarter of 2024, driven by the search for economic stability and easier access to remittances. Factors such as hyperinflation, capital controls, and sanctions have led Venezuelans to prefer cryptocurrencies to protect their assets and receive money from abroad. The main challenges for the crypto market in Venezuela include a lack of clear regulation, limited technological infrastructure, and the presence of fraud that affects trust. According to Chainalysis data, in the second quarter of 2024, the country’s cryptocurrency…
Rocket Pool price has surged 29% in the past 24 hours to break above $6, with this coming amid a 150% spike in open interest. As several altcoins rose alongside Ethereum (ETH), holders of the native token of decentralized Etherum staking protocol Rocket Pool (RPL) witnessed an impressive 29% price increase. The 24-hour gains extended the uptick from support below $5 for RPL. Notably, the liquid staking protocol’s gains came with a massive 800% increase in daily trading volume. Data from Coinglass also showed Rocket Pool commanding a 150% jump in open interest. OI is a metric analysts use to…
AltLayer, a prominent Rollup-as-a-Service platform, has recently announced its latest partnership with T-Rex, a unique blockchain platform. The collaboration aims to onboard 3.5B consumers into the Web3 ecosystem via Orbit tech infrastructure of Arbitrum. The platform took to social media to reveal this development. AltLayer and T-Rex Join Forces to Onboard 3.5B Consumers to Web3 As a part of this collaboration, AltLayer will work as a rollup infrastructure platform and technical advisor for T-Rex. It will enable ultra-rapid deployment of the T-Rex-based apps without any downtime while offering secure settlement and auto-scaling. By utilizing the customizable and modular rollup technology…
Bloomberg analyst Mike McGlone believes that the $100,000 level could be a potential price ceiling for Bitcoin, the leading cryptocurrency by market capitalization. This essentially means that the flagship coin could struggle to meaningfully rise above the aforementioned level in the future. McGlone believes that excessive speculation has likely reached its peak in the crypto market. He believe that gold could be a more favorable asset due to investors retreating from safe haven assets. After touching the much-coveted $100,000 level, Bitcoin is now underperforming gold once again. If a safe haven like gold is outperforming equities and crypto, this might…
Rektguy didn’t mint out its free NFTs on the Ethereum blockchain in 2022—but three years later, the brand has become incredibly familiar with the phrase “sold out,” with the Rekt Drinks brand clearing out successive drops and reaching more and more consumers along the way. The brand, which weathered a brutal crypto bear market thanks in part to the strength of its fervent community, has now sold more than 600,000 cans of Rekt Drinks, a non-alcoholic, flavored sparkling water that comes in a variety of different flavors. And this week, the brand earned placement at 7-Eleven, starting with a trio…
Ethereum is holding firm above the $2,700 mark, supported by a wave of fresh capital flowing into U.S. spot exchange-traded funds and growing optimism in the derivatives market. Ethereum (ETH) is trading at about $2,756 at press time, down 1.2% in the past day but still up 13% for the month. The asset has fluctuated between a weekly range of $2,419 and $2,869, indicating a struggle between bulls and bears in the face of changing market conditions. A major driver behind Ethereum’s resilience is the strength of spot ETF inflows. According to SoSoValue data, U.S. Ethereum ETFs saw net inflows…
This is a segment from the Empire newsletter. To read full editions, subscribe. The stablecoin company Circle is a highly anticipated IPO, and we know now that BlackRock’s very interested, per a Bloomberg report, and we have an idea behind potential pricing. This one is an interesting hybrid of crypto and TradFi. On Tuesday, I wrote that the stablecoin issuer is really close to the finish line, but I hadn’t realized just how close until I caught up with Jay Woods, Chief Global Strategist at Freedom Capital Markets. I know Woods from my days as a reporter on Wall Street,…