Author: NBTC

With bitcoin’s price up 6.8% from last week, a dormant bitcoin address from 2013 became active for the first time in over 11 years, transferring 114.42 bitcoins valued at $7.67 million. Sleeping Bitcoin Wallet Awakens After 11 Years, Moves 114 Bitcoins April and May have seen fewer awakenings of long-dormant bitcoin addresses, but some noteworthy events have occurred. On May 20, a legacy Pay to Public Key Hash (P2PKH) address transferred 114.42 BTC to another P2PKH wallet. This address, created on Feb. 2, 2013, had been inactive for a total of 4,125 days. At that time, each BTC was worth…

The second largest cryptocurrency, Ethereum (ETH), traded in the bearish wave and continued to erode gains for the past few trading sessions. Since the end of May 2024, the sentiments in the crypto market have looked bearish, and follow-on retracement has been noted. Amidst no negative news and no rate cuts announced by the Federal Reserve, the market leaders (BTC and ETH) failed to gain momentum and continued to reduce the gains. Notably, the Ethereum (ETH) coin depicted lower low swings and has breached its crucial support $3500 mark this week. Meanwhile, the sellers are likely to push the ETH…

In the course of a recent podcast set up by Bankless, Ethereum Foundation researcher Justin Drake surprised the cryptocurrency community by saying that he believes SHIB to be outshining all other meme coins on the crypto market, except Dogecoin. SHIB surpasses all Solana meme coins On the podcast, Drake debated Solana cofounder Anatoly Yakovenko, with Ryan Sean Adams and David Hoffman from Bankless also present and moderating the Ethereum-Solana debate. During the debate, Drake pointed out that SHIB running on Ethereum surpasses all the manifold meme cryptocurrencies that were built and run on the Solana blockchain. The power of the…

David Bailey, CEO of Bitcoin Inc., took time out of running the Bitcoin Asia Conference in Hong Kong to sit down with Bitcoin.com’s COO, Jason Sheman. The conversation delved into the lessons learned from past mistakes, the strategic pivot to Bitcoin, the Bitcoin Conference, Bitcoin Layer twos, and stablecoins on Bitcoin. Bitcoin Asia Conference Highlights: David Bailey Discusses All Things Bitcoin It’s not about how many bad decisions you make. It’s about making the good decision at the right moment when it needs to be made. And that’s the transformational decision. Painful Lessons and Transformational Decisions Jason Sheman: You’ve said…

On-chain data suggests this signal that has historically occurred around Ethereum peaks has yet to appear in the current cycle. Ethereum Foundation Wallets Haven’t Made Large Outflows This Cycle So Far In a new post on X, the market intelligence platform IntoTheBlock has discussed a pattern that Ethereum has witnessed alongside its previous market peaks. The pattern in question is related to the netflows for the wallets associated with the Ethereum Foundation. The ETH Foundation is a non-profit entity supporting the cryptocurrency and its ecosystem. Below is the chart shared by the analytics firm that shows the trend in the…

The Tezos blockchain ecosystem demonstrated substantial growth across multiple sectors in the first quarter of 2024, according to a recent report by Messari. Per the report, Tezos observed impressive growth in gaming, development, financial metrics, and network usage. Notably, the developments spotlighted in the report were an obvious testament of Tezos’ expanding ecosystem. Tezos Gaming Sector Growth and Network Upgrades For one, the gaming sector commanded significant growth. Data confirmed that active gaming addresses increased by 558% quarter-over-quarter (QoQ), reaching 97,000 in Q1 2024. Further, citing on-chain data, Messari confirmed that the social gaming application Coin Blast was particularly successful,…

South Korea is reportedly adopting a new crypto regulatory framework to align with public demand for a national policy supporting financial innovation. Kim Joo-hyun, Chairman of the South Korean Financial Services Commission (FSC), provided insights into the creation of a new virtual asset division that aligns with the nation’s vision. During a recent meeting with Virtual Asset Service Providers (VASPs), the FSC Chairman emphasized the government’s goal of establishing a streamlined crypto regulatory framework in compliance with global financial standards. South Korea’s first law on virtual asset user protection is set to be implemented on July 19. The new law…

Two years ago, Non-fungible tokens (NFTs) captivated the world with skyrocketing prices and mainstream attention, but then the market snapped back and many said that NFTs were “dead.” They spoke too soon. This technology continues to proliferate on a global scale, reshaping entire industries. Even with the NFT market reaching sales volumes of nearly 200,000 NFTs worth over $191 million per day it’s easy to dismiss them as Internet culture toys due to headline grabbing projects like CryptoPunks and Bored Apes. You’re reading Crypto Long & Short, our weekly newsletter featuring insights, news and analysis for the professional investor. Sign…

Ethereum price started a recovery wave from the $3,230 zone. ETH climbed above $3,350, but it now faces strong resistance at $3,420. Ethereum started an upside correction from the $3,240 support zone. The price is trading below $3,420 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance near $3,410 on the hourly chart of ETH/USD (data feed via Kraken). The pair must clear the $3,420 and $3,450 resistance levels to continue higher. Ethereum Price Eyes Recovery Ethereum price extended losses and traded below the $3,350 zone. ETH even tested the $3,240 support zone…

The trading volume of derivatives on Cardano (ADA) has shot up by a whopping 170% in just 24 hours, according to data from CoinGlass. This surge has propelled perpetual futures on the Cardano token to over half a billion dollars in trading volume during the same period. At the same time, data from CoinMarketCap shows that there has been a 117.88% increase in ADA trading volume on spot markets across various exchanges, with a total of $554.9 million traded. When you combine both spot and derivatives markets, the total trading volume of the Cardano token has reached a remarkable $1.09…