Author: NBTC
Ethereum (ETH) price has climbed 48.19% so far in 2024, though it lags behind Bitcoin 123% gain this year. Despite ETH’s strong performance, its recent uptrend appears to be losing momentum, as the ADX indicates weakening trend strength. Whales are accumulating more ETH, reaching the highest number of large holders since September. Key resistance at $3,523 will be crucial in determining whether ETH can extend its rally toward $4,100 or face a pullback to test lower support levels. ETH Uptrend Is Still Strong, But It Could Be Losing Its Steam Ethereum Directional Movement Index (DMI) chart shows its Average Directional…
Elon Musk, the billionaire CEO of Tesla, is co-leading the newly formed Department of Government Efficiency (D.O.G.E) with Vivek Ramaswamy under the incoming administration of ‘crypto president’ Donald Trump. The goal is to slash $2 trillion from federal spending. That’s nearly the size of the US government’s projected 2024 deficit. But here’s the thing, this project might not just fail — it could crash the entire US economy. The pipe dream D.O.G.E isn’t even a real government department. It’s an advisory group. It can’t implement anything without Congress or Trump signing off. But Elon’s name carries weight. His involvement alone…
Cryptocurrency project Fuel has announced that its native token, FUEL, will be launched in the next two weeks. The initial supply will total 10 billion tokens. Fuel has committed to allocating 20% of the initial supply (2 billion tokens) to the community. These tokens will be fully unlocked at launch and distributed based on various eligibility criteria, including participation in the Fuel Points Program and incentivized testnet. Overall, over 51% of the total supply will be directed to the community, ecosystem growth, and research and development efforts. Community (20%): Incentives, campaigns, and programs for community growth. Unused tokens can help…
In a significant series of transactions, a wallet potentially linked to crypto lender Nexo has deposited a total of 101,756 ETH (approximately $380 million) into Binance since December 2. The average transaction price of these Ethereum deposits has been around $3,737, according to blockchain data. Since Dec 2, #Nexo has deposited a total of 101,756 $ETH($380M) into #Binance at an average price of $3,737.Just an hour ago, #Nexo made another deposit of 7,495 $ETH($25M) to #Binance.https://t.co/94mlJVK5xW pic.twitter.com/7zX6TWL2nR — Lookonchain (@lookonchain) December 23, 2024 The deposits include a recent transaction of 18,000 ETH ($70.8 million), which was unstaked just an hour…
Trader John Bollinger, who created the eponymous indicator and is considered a legend in the financial markets, has broken his silence on the price action of the major cryptocurrency Bitcoin (BTC). Bollinger rarely comments on the price action of BTC, but each time his comments are characterized by a unique perspective and sufficient completeness of analysis. In response to a follower’s comment about Bitcoin’s daily candle finding support at the moving average and the possibility of a “good squeeze” forming, Bollinger acknowledged the observation with a brief confirmation and shared a Bitcoin price chart. His chart included Bollinger Bands, which…
Ethereum forms a bullish reversal pattern with key resistance and support levels. Sustained exchange outflows suggest a potential supply squeeze and rising demand. Ethereum (ETH) is currently trading at $3,433, experiencing a 2% decline in the past 24 hours with trading volume down 18%. Over the last week, the asset has dropped by 7%, and on December 20, it fell below the support zone of $3,101, a level not seen for over a month. The daily Relative Strength Index (RSI) stands at 44, indicating that Ethereum is approaching oversold conditions. This suggests the possibility of a short-term rebound if buying…
South Korea sees a surge in crypto investments. The total number of virtual asset investors is now 15.59 million. This is over 30% of the population. Data from the Bank of Korea shows domestic investors now hold around $79 billion in crypto assets. This shows growth in the number of participants and overall market activity. According to data from the Bank of Korea, as of the end of November, the total number of cryptocurrency investors in South Korea exceeded 15.59 million for the first time, accounting for more than 30% of the country’s population, with total assets of US$79 billion…
Early traders of NFT marketplace Magic Eden’s new token ME had a lot to be thankful for – if they could access their airdrops, that is. In the first minutes of trading Tuesday, the token’s fully diluted valuation hit $15 billion. But as more claimants managed to process their airdrops – and in some lucky cases, sell – that valuation began to crater. It eventually settled at an FDV around $5 billion. ME’s rocky rollout stood in sharp contrast to other recent token launches. Hyperliquid’s HYPE token immediately went parabolic after launching in late November. And Move’s days-old MOVE token…
Binance Alpha, Binance’s initiative to highlight high-potential blockchain projects, has announced its sixth batch of pre-selected tokens. Binance Alpha Announces Sixth Batch of Pre-selected Project Tokens The new batch includes five promising projects: YNE, GOUT, GEL, UFD and GAME. The pre-selection through Binance Alpha points to these projects as potential candidates for future Binance listings, giving investors and users an early look at innovative blockchain developments. Each token reflects unique use cases and emerging trends in the crypto ecosystem. What is Binance Alpha? Binance Alpha is a platform designed to identify and support exceptional blockchain projects before they reach Binance’s…
Bitcoin price is under the spotlight as markets anticipate a potential Federal Reserve rate cut that could drive fresh momentum. Notably, the CME FedWatch Tool has indicated a 74.5% possibility of a 0.25% rate cut by the Federal Reserve at its forthcoming Dec. 18 meeting. This comes after the 50 bps rate cut in September and 25 bps last month. If it materializes, this move could lower the federal fund’s target rate to a range of 4.25% to 4.5%. Such a cut, widely perceived as a dovish signal, will likely bolster the price action of Bitcoin and altcoins. The Fed’s…