Author: NBTC
A widely followed crypto analyst believes that Bitcoin (BTC) will likely hold current levels after briefly correcting into the $59,000 range. Pseudonymous crypto trader Rekt Capital tells his 478,800 followers on the social media platform X that historical precedence suggests Bitcoin will likely continue trading in a range with a low of $60,000 on the weekly chart before breaking out. “Bitcoin was never able to break the re-accumulation range high so early in the post-halving period. BTC has also never lost its re-accumulation range low as support in the post-halving period either. History suggests BTC should be able to hold…
Oracles like Band Protocol and DIA are enhancing XRP Ledger’s DeFi capabilities. Ripple’s focus includes institutional adoption, interoperability, and launching a USD-backed stablecoin. Subsequent to the previous CNF update on Ripple President Highlights XRPL EVM Sidechain in the Q2 Report, the quarterly XRP Markets Report published by Ripple provides transparency and regular updates on the state of crypto markets, relevant XRP Ledger and XRP-related announcements, and market developments from the previous quarter. Following Ripple’s official tweet, it was further highlighted that the Q2 ’24 XRP Markets Report emphasizes the persistent volatility in overall crypto markets during the quarter. The Q2…
Real-world asset startup Zoth has raised $4 million in a strategic round to launch its Tokenized Liquid Note, featuring assets like U.S. Treasury Bills and corporate bonds. Zoth, a decentralized finance real-world assets startup, has secured a $4 million strategic round to advance its efforts in launching digital versions of traditional fixed-income instruments on the blockchain. In an Aug. 5 press release shared with crypto.news, the Singapore-headquartered startup said the funding was backed by Taisu Ventures, G20, Fat Cat Ventures, GemHead Capital, and Foundership Ventures, among others. Zoth CEO Pritam Dutta commented on the funding, stating that the team is…
The official X handle of Shiba Inu’s collectible card game (CCG), Shiba Eternity, shares its first update after being inactive for over a year. Shiba Eternity broke its silence on X yesterday, saying, “We’re SO back.” It is noteworthy that Shiba Eternity’s official X handle has been inactive for over a year. Prior to yesterday, its last post on the social media platform was seen on February 11, 2023. The post highlighted some of Shiba Eternity’s features to attract potential players. Have you played #ShibaEternity? Cute puppies, addicitive gameplay, and exciting battles. Download now! #mobilegaming #crypto #cardbattle https://t.co/URBAI81XEuhttps://t.co/0VxnR6QedU — Shiba…
Considering that trends in the cryptocurrency market often change, it can sometimes be difficult to gauge the right timing for buying assets like Bitcoin (BTC). However, there is one indicator that can help make this task easier, as observed by a renowned crypto trading expert. Specifically, popular crypto market analyst Ali Martinez pointed out that the relative strength index (RSI), using 14 periods, had always signaled the perfect time to buy the Bitcoin dip, as it does at the moment, according to the analysis he shared in an X post on June 25. ‘Buy the dip’ now Indeed, as Martinez’s…
$350 million worth of DeFi positions were liquidated during the market sell-off. Aave secured $6 million in revenue from processing on-chain liquidations. One $7.4 million WETH position was liquidated, providing Aave with $802,000 in revenue. The founder of decentralized finance (DeFi) protocol Aave said the platform generated $6 million of revenue during Monday’s crypto market sell-off. The plunge trickled down to DeFi after last week’s Bank of Japan decision to hike interest rates and Friday’s U.S. jobs report. Ether (ETH) is down by more than 20% over the past 24 hours whilst aave (AAVE) has lost 23.7% of its market…
Crypto has been in turmoil over the weekend, but trading volumes in Bitcoin ETFs are hitting unprecedented levels, and despite widespread sell-offs, major financial institutions don’t appear to be selling — yet. Within just 20 minutes of Monday Aug. 5th opening bell, Bitcoin ETFs experienced a trading volume of $1.3 billion. Later in the day, volume surged to nearly $3 billion in volume over the first couple of trading hours. This surge in volume showcases sustained interest from institutional investors, despite the plummeting prices. Bitcoin (BTC) dipped below the $50,000 mark earlier Monday, signifying a 28% decline from its recent…
It is claimed that one of the most important reasons for the last major decline in the cryptocurrency market is Jump Crypto, one of the largest companies in the industry. Onchain data shows that the company moves a large amount of coins to cryptocurrency exchanges, especially Ethereum (ETH). This situation puts pressure especially on altcoins, and due to Bitcoin’s failure to remain strong, the entire cryptocurrency market market value has lost approximately 4% in the last 24 hours. Jump Crypto was subject to an investigation by the CFTC regarding Terra (LUNA) in June. Then, the company’s Indian-origin CEO resigned. The…
Investors can breathe a sigh of relief as net inflows in U.S. spot Bitcoin ETFs exceeded net outflows to the tune of $31 million for the first time in two weeks, according to data analytics platform SoSovalue. This newfound vote of confidence in Bitcoin from institutional investors has coincided with the Bitcoin price recovering from $59,495 to $61,485 at the time of writing, an increase of 3.5% after Bitcoin breached the $60,000 mark on June 25. Fidelity’s FBTC fund saw the highest inflow of $49 million, while Bitwise’s BITB fund witnessed an inflow of $15 million. Meanwhile, Grayscale’s GBTC fund…
Amidst the sharp market collapse in the crypto sector, DeFi protocol Aave managed to make a massive $6 million in revenue. This achievement was a remarkable success, while other platforms were under severe pressure. The decline was due to the Bank of Japan rate hike and the publication of the US employment report, which caused anxiety among investors and led to massive selling pressure. On August 5, 2024, the collapse of Bitcoin and other cryptocurrencies led to liquidations of traders’ positions worth more than $1 billion. Amid the closing of trades, decentralized lending protocol Aave made about $6 million, according…