Author: NBTC
With a rising channel on the weekly chart and a short-term spike in buying pressure, will Ethereum cross the $6,000 mark this November? As the crypto market bull run continues and Bitcoin prepares for a new all-time high, Ethereum shows a V-shaped recovery gaining momentum. Positioned to reach crucial resistance near $2,750, Ethereum is on the brink of a significant breakout rally. Will the biggest altcoin surpass this critical threshold for a price jump to cross the $3,000 mark? Let’s find out. Ethereum Against the Local Resistance In the daily chart, Ethereum shows a falling channel pattern. However, the altcoin…
BRASILIA, Oct 29 (Reuters) – Brazil’s net imports of crypto assets in the nine months through September 2024 increased by 60.7% over the same period last year, already exceeding the full-year total for 2023, central bank data showed on Tuesday. The surge in Brazil’s crypto market, the world’s tenth-largest according to blockchain analytics firm Chainalysis, was fueled by a significant increase in so-called stablecoins – which are pegged to real-world assets like the U.S. dollar. These stablecoins accounted for nearly 70% of all crypto transactions in the country this year, according to tax revenue service data. Central bank chief Roberto…
Gold tokenization is set to launch on Cardano through a partnership between founding partner EMURGO and Kinka Gold (XNK), a subsidiary of a Japan-based neo-finance services firm. EMURGO announced the latest collaboration in an official press release today. The report revealed that Cardano’s blockchain ecosystem will soon integrate its first major gold-backed token, XNK, with EMURGO serving as its technology partner. Gold Tokenization Coming to Cardano Notably, the rapid growth of blockchain adoption is transforming the financial landscape. As institutions worldwide increasingly recognize the potential of on-chain economies to disrupt traditional money markets, there is a growing focus on using…
Confusion is mounting among Bitcoin investors, as the price of Bitcoin is showing no indication of an upcoming bullish momentum. A new observation made by a crypto analyst indicates that the BTC market is less likely to meet the expected upward momentum before passing through a sideways market situation. Bitcoin Continues to See Spot Selling The post, shared by the cryptocurrency analyst, identified as CrediBULL Crypto, highlights the existence of strong selling pressure in the spot market of Bitcoin. A continued offloading of BTC in the spot market usually leads to a decline in the BTC price – which is…
Christie’s hosted a charity auction with proceeds going to the United Nations High Commissioner for Refugees. The auction featured 11 pieces of digital art sold in the form of NFTs. The “Bridging Worlds: Digital Art Beyond Borders” charity auction ran from Oct. 23 and closed on Oct. 30, 2024. According to the final bidding prices listed on Christie’s site, the auction accumulated a total of $51,387 from digital art sales. The auction was curated by Micol Ap, and featured 11 digital artworks donated by a number of digital artists including Erick Calderon also known as Snowfro, IX Shells, Mario Klingemann,…
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…