Author: NBTC
Ethereum whales have been accumulating the asset as the Oct. 23 price drop brought a buying opportunity. According to data provided by IntoTheBlock, large Ethereum (ETH) addresses saw a net inflow of over 598,000 ETH over the past week—worth $1.6 billion at the current price. The accumulation gained traction after the ETH price plunged from its local high of $2,765 between Oct. 21 and 23. ETH large holder net flows | Source: IntoTheBlock Ethereum gained 4% in the last seven days and is trading at $2,685 at the time of writing. Its market cap is currently hovering around $323 billion…
A new U.S. strategy to promote financial inclusion isn’t leaning on crypto as an option, but it did briefly mention the technology as a risk. The Biden administration push comes as Vice President Kamala Harris has been warming up to crypto during her presidential election bid. The U.S. Treasury Department has a new strategy for financial inclusion to help people get access to the financial system, but the 35-page report references cryptocurrency only once – to tout Treasury’s work on flagging the industry’s hazards. While Vice President Kamala Harris has said on the campaign trail she’ll encourage crypto as a…
On September 18, MakerDAO’s founder Rune announced that the platform will be rebranded as “Sky,” marking a pivotal move towards its envisioned future. This strategic transformation includes the rollout of new SKY and USDS tokens, slated to coincide with the relaunch date. Users are encouraged to take advantage of early registration through the official website, Sky.Money, to ease the transition. Contents hide 1 What Benefits Come with Early Registration? 2 How Does the Rebranding Affect Users? What Benefits Come with Early Registration? Sky is offering an “Early Registration Bonus Program,” as highlighted by Rune on social media platform X. Users…
After a few days of deep outflows from Bitcoin (BTC) ETFs, the fund wallets have started moving coins. Fidelity, one of the last net buyers of coins, shifted multiple tranches of BTC out of its custodial wallet. Fidelity, one of the ETF providers that also provides custodial services, is moving coins from one of its main wallets. Fidelity sent out several identical transactions of 200 BTC, which landed in previously unmarked wallets. Each transaction was then split into two addresses containing 50 BTC and another one with 99.99 BTC. For now, there are no signs of the coins being sold…
The decentralized finance total value locked surpassed the $90 billion mark for the first time since August. According to data provided by DeFi Llama, the total DeFi TVL is currently sitting at $90.23 billion with a trading volume of $7.13 billion. The surge comes as the leading five protocols register gains. Lido, the leading liquid staking platform, saw its TVL rise by 0.4% in the past 24 hours, reaching $25.8 billion. It generated a revenue of $6.74 million—with $67.4 million in fees—over the past month. The TVL of the top lending protocol, AAVE, increased by 1.9% and surpassed the $14…
In a shocking turn of events, two of the most influential figures in digital media, Mr. Beast and Gary Vaynerchuk (Gary Vee), have come under scrutiny for alleged involvement in cryptocurrency and NFT “pump-and-dump” schemes. This controversy traces back to May 2021, when Gary Vee reportedly gifted Mr. Beast a high-value NFT called the “Gift Goat” from his own VeeFriends series. What followed were large transactions from Mr. Beast’s wallet, as he invested in additional VeeFriends NFTs worth hundreds of thousands of dollars. This sudden activity, critics allege, artificially drove up prices in the NFT market, leaving regular investors vulnerable…
With the broader digital currency ecosystem in an uptrend, Ethereum’s (ETH) performance has come to the fore. While Ethereum has not performed badly, many still consider its growth subpar, especially as Bitcoin almost retested its all-time high (ATH) recently. Drawing on this, top market analyst Benjamin Cowen reiterated that Ethereum is not dying. Ethereum’s performance from Bitcoin’s perspective Ethereum’s growth is not completely disappointing when it is viewed as a standalone asset. In the past 24 hours, it has jumped by more than 2% to $2,675.24. Over the past week, the growth rate crossed 4%, extending the 52-week high to…
Larry Fink, CEO of BlackRock, discussed his expectations for the Federal Reserve’s upcoming policy decisions at the Future Investment Initiative in Saudi Arabia. He highlighted the ongoing monetary pressures and the challenges the Fed faces in responding to current economic conditions. Speaking to a global audience, Fink said that the Federal Reserve may cut interest rates by another 25 basis points before the end of 2024 to balance rising costs. ⚡️ JUST IN: #BlackRock CEO Larry Fink anticipates “at least” another 25bps interest rate cut this year.#LarryFink #Crypto #BreakingNews pic.twitter.com/Yf6oRl1bKn — Coin Edition: Your Crypto News Edge ️ (@CoinEdition) October…
In its latest third-quarter mining report, CoinShares announced that Bitcoin mining costs have reached record levels. CoinShares: Bitcoin Mining Costs at Record Level According to the report, the production cost of each Bitcoin is approximately $49,500 when cash expenses alone are taken into account, while this figure increases to an average of $96,100 when additional costs such as depreciation and stock compensation are included. CoinShares Chief Researcher James Butterfill noted that despite the high costs, mining companies continue to expand their infrastructure and plan to invest more in anticipation of future price increases. According to previous data, the total computing…
Major cryptocurrency Bitcoin is down nearly 4% in the last seven days, erasing most of the gains from the $49,500 low on Aug. 5. While the market expects a new ATH with a fast and strong recovery, analysts say that BTC may experience further corrections and a rapid recovery is not yet likely. At this point, 10x Research founder Markus Thielen predicted that there is a possibility that BTC could drop below $50,000. Stating that the Bitcoin price fell below the ascending trend line of the asymmetrical triangle in the last correction in his recent analysis, Thielen said the following…