Author: NBTC
As FTX prepares to begin repaying its creditors nearly three years after its dramatic collapse, industry leaders are reflecting on the significant lessons learned. FTX, once a towering presence in the cryptocurrency market, is set to start its first wave of reimbursements on February 18, 2025, focusing on claims under $50,000. This milestone offers some relief to those impacted by the collapse, but it also serves as a reminder of the devastation caused by one of crypto’s most notorious bankruptcies. During a recent press conference, David Sacks, the “Crypto Czar,” addressed the future of digital assets and the importance of…
Whether the market has finally reached its bottom has come into question in light of Bitcoin’s recent decline to $93,224. Though the strength of this support will be determined in the next few hours, indications of demand are beginning to appear due to notable changes in the Binance spot order book during the sell-off. Major bids at $90,000 were moved up to buy at $93,000 during the decline, indicating that buyers were willing to withstand selling pressure at higher prices. Additional bids were made nearer $92,000, suggesting that purchasers were keen to avoid a further decline and benefit from lower…
Sony’s blockchain platform Soneium has launched its first-ever music NFT collection, featuring unreleased tracks from Tokyo-based producer NUU$HI in collaboration with Web3 label Coop Records. The collection, hosted on Sonova, Soneium’s NFT marketplace, is priced at 0.000777 ETH ($2.11), running until the end of the month, with approximately 124 out of 999,999 NFTs minted so far. Soneium, an Ethereum Layer-2 blockchain developed by subsidiary Sony Block Solutions Labs, has positioned itself as a platform for digital content distribution, though adoption remains in its early stages. Meanwhile, Coop Records, founded by crypto entrepreneur Cooper Turley, has previously brought over 600 songs…
Ethereum price crashed to a key support level on Monday, increasing the risk of further downside after invalidating a crucial bullish chart pattern. Ethereum (ETH) dropped to a low of $2,146, its lowest level since August last year. It has declined by approximately 40% from its December high. Ethereum price invalidates inverse H&S pattern The weekly chart shows that Ethereum has formed two distinct patterns in recent months. First, it developed a triple-top formation around the $4,000 level, struggling to break above that point since March last year. A triple-top is a well-known bearish signal, often leading to further losses…
Versan Aljarrah, founder of Black Swan Capitalist, shares a bold new perspective on XRP, the third-biggest crypto asset. In a recent tweet, Aljarrah asserted that holders of XRP are not simply investing in a cryptocurrency. According to him, they are safeguarding a critical asset that serves as a “key” to the future of the global financial system. “You’re not just holding a crypto asset with XRP; You’re holding a key to the new financial system,” Aljarrah said. “XRP Represents More Than Just Wealth” His statement suggests that XRP could play a crucial role in the evolution of global finance. He…
Malaysia is pushing to fast-track its digitalization, tapping local service providers to build a national blockchain infrastructure. MIMOS Berhad, an agency under the Ministry of Science, Technology and Innovation (MOSTI), has partnered with local Web3 firm Masverse for the initiative, signing a Memorandum of Understanding (MoU) to advance the state of Web3 for the Southeast Asian nation. A cursory look at the MoU reveals an intention to integrate Masverse’s MasChain, a layer 1 distributed ledger, as the foundation for the country’s Web3 objectives. Rather than focus on mainstream offerings, the ledgers appear tailored to the country’s peculiarities, keen on “efficiency,…
Crypto traders are seeing reduced buying pressure as stablecoin outflows on Binance hit $310 million. This shows that investors are cautious. Meanwhile, Bitcoin’s MVRV ratio suggests that the price could still go up. Binance saw a record-breaking $13 billion inflow on December 5, but now outflows are dominating as investors play it safe. Because of this, Binance’s ERC-20 stablecoin reserves have dropped since mid-December, which means buying pressure is cooling off. At first, inflows were seen as a sign of market confidence, but now the outflows show that investors are locking in profits or being cautious. Analysts think this could…
While the sharp declines in Bitcoin and altcoins caused investors to suffer major losses, some investors also turned the recent decline into an opportunity. At this point, while Ethereum (ETH) experienced one of the biggest declines, whales who took advantage of this decline did not neglect to buy. According to Lookonchain’s post, a whale that was successful in finding the bottom has made a purchase again. Accordingly, the whale, which made purchases during the big decline in August 2024 and has over $1 billion worth of cryptocurrency in its portfolio, bought a large amount of ETH today. A wallet called…
On January 13, 2025, the cryptocurrency market experienced a remarkable surge, with several altcoins making impressive gains. Leading the charge was Fartcoin, which surged by a massive 48.33%, reaching a price of $1.12 with a trading volume of $206.42 million. This surge is indicative of growing interest in the token, as it stands among the top-performing assets of the day. According to Coinmarketcap, Fartcoin’s rise is the standout performance of the day, marking a significant shift in market sentiment. The token’s 48.33% increase was accompanied by a trading volume that surpassed $200 million, further underlining the growing attention on Fartcoin…
With the new Trump administration settling in, the cryptocurrency industry is witnessing a significant shift in regulatory direction. Ripple’s Chief Legal Officer Stuart Alderoty expressed optimism about the recent changes, calling them a much-needed reversal from the previous administration’s stance on digital assets. According to Ripple’s legal chief, the previous administration waged an “unspeakable war” on the crypto industry, aiming to drive innovation overseas rather than within the U.S. However, since Trump took office, the new administration has taken proactive steps to remove regulatory hurdles and make the U.S. a global leader in crypto. For Ripple, this policy change has…