Author: NBTC

Ethereum may face downward pressure in August, as the institutional and whale support that fueled its rally to a July peak of $3,800 appears to be retreating. With bearish sentiment silently mounting across the broader crypto market, the leading altcoin now faces a tougher climb back toward the $4,000 mark. ETH Futures Sink to $6.2 Billion: Institutional Confidence Losing Steam? On-chain and derivatives data show a recent trend of decline in activity among the market’s biggest players. For example, open interest in ETH futures contracts on the Chicago Mercantile Exchange (CME) has fallen sharply, closing yesterday at a five-day low…

US President Donald Trump announced that he has ordered the immediate dismissal of Bureau of Labor Statistics (BLS) Director Erika McEntarfer following the release of weak employment data in July. In a post on Truth Social, Trump accused McEntarfer of politicizing employment data, calling her a “Biden political appointee.” No concrete evidence was presented for these accusations. Bitcoin price experienced another sudden drop following the development: Chart with minute candles showing the decline in BTC price. “I have instructed my team to immediately remove this Biden political appointee. He will be replaced by someone far more competent and qualified. Such…

The Solana Seeker phone is not your average smartphone, nor does it want to be. Building on the lessons of its predecessor, the Saga, Solana Mobile’s newest device reimagines what a crypto-native phone can be. Smaller, lighter and boasting a longer-lasting battery compared to its predecessor, the Seeker aims to improve on the user experience while doubling down on mobile-first crypto usability. Out of the box, it’s clear who this device is for: active Solana users who regularly transact on-chain, with the design focusing on everything crypto-first. With 150,000 phones pre-ordered from over 50 countries, and at a price point…

The crypto market is sending mixed signals. Despite earlier hopes for an altcoin season, Bitcoin dominance in this cycle is rising, which usually means trouble for small-cap altcoins. While a few altcoins might do well, the overall altcoin market has shown signs of weakness. So while broader altcoins face pressure from BTC’s dominance, altcoin leader Ethereum still has a shot to flip the script. Related: Bitcoin Dominance Hits 3-Year High But Faces Historical August-September Slump Ethereum’s Make-or-Break Test in August Analyst Benjamin Cowen said that August will be a decisive month for Ethereum. If Ethereum can break above $4,000 soon,…

Atlanta Fed President Raphael Bostic told CNBC that July employment data suggests risks in the labor market may be increasing. However, Bostic said it’s too early to change the economic outlook despite the data. “Today’s data and the revisions suggest the economy and labor market may be weakening more broadly than what we’re seeing in the Atlanta Fed area,” Bostic said. Still, he maintained that this week’s interest rate decision was the right one, adding, “This data wouldn’t have changed our decision.” Downward revisions to July’s data revealed that employment growth has lost momentum. Bostic said, “The data suggests the…

Paul Grewal, chief legal officer at major crypto exchange Coinbase, met this week with Priyank Kharge, the IT minister of India’s Karnataka state, as the US-based crypto exchange seeks to expand its role in India’s growing digital infrastructure. Grewal publicly thanked Kharge in a Wednesday X post, saying he “is excited to explore how Coinbase can further support Karnataka’s tech leadership.” He said that support could include developer tools, cybersecurity collaboration, and capacity-building programs “The future is onchain—and it’s being built here,” Grewal said. In a separate Wednesday X post, Kharge said he met with the Coinbase team to “discuss…

Wall Street’s institutional interest in Ethereum is rising, with staking set to drive long-term network growth. FSInsight’s Tom Lee says ETH could hit $60K if it becomes the backbone of global financial markets. Wall Street’s interest in Ethereum is heating up. According to a top strategist, institutional adoption could eventually push ETH’s price to $60,000. In a detailed thread on X, Thomas (Tom) Lee, Managing Partner at FSInsight and a well-known Wall Street strategist, laid out why institutional investors are rapidly gravitating toward Ethereum ($ETH). His remarks come as ETH continues to trade around $3,600, far below its implied value…

Public Keys is a weekly roundup from Decrypt that tracks the key publicly traded crypto companies. This week: Strategy aims to go even bigger, Metaplanet get more ambitious with Bitcoin buying plans, and Coinbase highlights shifting altcoin drivers amid an earnings miss. Strategy Double Up Strategy wants its Bitcoin treasury to be the largest corporate treasury ever. And yes, that means the company is looking to overtake Warren Buffet’s Berkshire Hathaway, which currently had a Scrooge McDuck-worthy $328 billion in cash and cash equivalents sitting in the bank as of Q1. We’ll get a better idea of how much cash…

Welcome to The Protocol, CoinDesk’s weekly wrap-up of the most important stories in cryptocurrency tech development. I’m Margaux Nijkerk, CoinDesk’s Tech & Protocols reporter. In this issue: Solana’s Seeker Phone Fixes Saga’s Flaws With Usability Upgrade Base Says Sequencer Failure Caused Block Production Halt of 33 Minutes Solana’s Jito Proposes Routing 100% of Block Engine Fees to DAO Treasury Cardano Community Approves $70M Core Dev Budget, Boosting ADA Prospects Network news SOLANA SEEKER PHONE BEGINS SHIPPING: The Solana Seeker phone is not your average smartphone, nor does it want to be. Building on the lessons of its predecessor, the Saga,…

Nasdaq-listed carbon management company DevvStream Corp. has officially launched its cryptocurrency strategy. The company announced on Friday that it had purchased $10 million worth of Bitcoin and Solana. DevvStream had previously issued $300 million worth of secured convertible notes to finance its crypto investments. Founded in 2021, DevvStream provides carbon credits to companies developing renewable energy production, energy efficiency projects, and forest protection initiatives. The company’s new move has placed it among publicly traded companies diversifying their balance sheets with crypto assets. This strategy was initially pioneered by Strategy, a firm focused solely on Bitcoin. DevvStream stated in a statement…