Author: NBTC
Ethereum (ETH) is facing a sharp correction, dropping 11% over the past week as bearish momentum continues to dominate. The Relative Strength Index (RSI) remains weak, showing a lack of strong buying pressure, while the Directional Movement Index (DMI) confirms that sellers are still in control. Additionally, the Exponential Moving Averages (EMA) are in a firmly bearish structure, suggesting that ETH could soon test critical support levels at $1,756 and potentially fall below $1,700 for the first time since October 2023. ETH RSI Shows the Lack Of Buying Pressure Ethereum Relative Strength Index (RSI) is currently at 34.4, recovering slightly…
Finance writer Linda P. Jones has disputed claims that demand for XRP Spot Exchange Traded Funds (ETFs) will be minimal if the U.S. Securities and Exchange Commission (SEC) approves them. Jones, who has extensive experience in the financial sector, argues that financial firms are filing for XRP ETFs with the SEC precisely because they expect strong demand. He said that XRP is the largest U.S.-based cryptocurrency and could even benefit from preferential tax treatment in the future. Drawing on his career at a major Wall Street firm, Jones explained that new financial products like ETFs are introduced only when firms…
Community Gaming, a blockchain-powered esports platform, launched its CGX token on Wednesday on Ethereum sidechain network Ronin, alongside its Forkast prediction markets platform that’s focused on video games and internet culture. Forkast, which is built around the CGX token, allows users to create and participate in prediction markets centered around gaming, streamers, esports events, and Web3 assets. The platform is integrated with Ronin’s Waypoint wallet to provide users with gasless transactions. Users can earn CGX tokens through weekly performance leaderboards, daily trading incentives, and gaming tournaments. Token holders can stake CGX to receive monthly platform credits, create new prediction markets,…
New evidence has emerged revealing the full extent of a South Korean civil servant’s scheme to embezzle $342,000 (497.16 million Korean won) in public funds for personal crypto investments, including vital flood recovery donations. Last December, the unnamed civil servant—dubbed Person A—was sentenced to five years in prison for embezzling city budget and public organization funds, with the case now under review in the High Court, where the ruling may be extended or overturned. While the official’s embezzlement activities took place over six years, from November 2018 to May 2023, the full scope of the crimes—including the flood donation fund…
Analysts reported that the crypto community is witnessing a decline in the buying pressure for Bitcoin, pushing the firstborn cryptocurrency into negative territory. However, some market observers noted that not all is lost in the recent slide of Bitcoin, saying what seems to be an unfavorable condition offers opportunities for long-term investors. Downward Trend Analysts said that a weakening buying pressure on Bitcoin might be a cue that the crypto is entering a downward trend phase with some observers saying that BTC is already within the negative pressure zone. “Bitcoin’s buying pressure has decreased over the last 60 days, allowing…
Ethereum whales are moving assets to cover DeFi lending positions as ETH volatility increases, with major vaults facing liquidation threats. One whale reduced liquidation risk by depositing over 30,098 ETH, lowering its liquidation price to $1,127 while securing over-collateralization. Short positions accumulated at $2,000 and $2,200 suggest a potential rally, as liquidity shifts toward attacking these positions in derivative markets. Ethereum (ETH) has come under intense selling pressure, dipping below $2,000 and triggering liquidation risks for large holders. Several whales have been forced to move assets to decentralized lending protocols to cover their positions. The recent price drop saw ETH…
USDC, the second-largest stablecoin by market cap, is now available to a limited user base on Japanese financial giant SBI’s VC Trade platform in a beta release. SBI says it will provide users with “access to digital US dollars” and promote “development of the digital economy.” As reported by Cryptopolitan on March 4, Japan’s online financial giant SBI is rolling out support for the popular dollar-pegged stablecoin USDC. As of Wednesday, March 12 (JST) USDC is now live on the company’s SBI VC Trade platform in a limited, beta release. The platform’s CEO Tomohiko Kondo stated on X (translated): “The…
Ripple’s XRP is officially recognized as convertible virtual currency by the USA. The XRP price chart is forming a bullish ascending triangle pattern. Analyst expects to see major XRP price surge and a new XRP ATH soon. Ripple’s XRP has been officially recognized as a ‘convertible virtual currency’ by the US Department of Justice Civil Division and FinCEN. This marks the official acknowledgement of XRP as a reputed and trusted virtual currency making the altcoin one of the most highly respected cryptocurrencies in the USA and across the world. Ripple’s XRP Officially Recognized as Convertible Virtual Currency 🚨BREAKING: #XRP has…
The long-running legal battle between Ripple and the SEC is entering its final phase, and the crypto community is eager to see how it ends. After years of back-and-forth arguments, multiple court rulings, and shifting regulatory stances, several outcomes are now possible. Can the SEC Just Walk Away? All Things XRP, Crypto Analysts chimed into the outcome possibilities. They suggest that the SEC, under potential new leadership in 2025, might withdraw its appeal, leaving Ripple with a $125 million fine and a permanent injunction on institutional XRP sales. While this would provide some clarity, it would still limit Ripple’s operations.…
Bitcoin rose 2.1% over the past 24 hours after the minutes from the Federal Reserve’s January meeting revealed policymakers discussed potentially pausing or slowing their balance-sheet reduction program amid debt-ceiling concerns. Bitcoin’s price climbed from $94,134 yesterday to $96,180 an hour after the release. “Participants indicated that, provided the economy remained near maximum employment, they would want to see further progress on inflation before making additional adjustments to the target range for the federal funds rate,” the minutes showed. Officials maintained the Fed’s benchmark policy rate between 4.25% and 4.5% at the January meeting. The minutes revealed that “many participants…