Author: NBTC
Strap in, we’re gonna dive into some technical analysis. Bitcoin broke below $60,000 on Monday. Although it has since regained that level, there is ongoing speculation about the next support line, with some wondering if the price could drop even further. John Glover, chief investment officer at Ledn, spoke to Blockworks about some of the technical levels to watch. He said the next threshold would be $55,000 or $56,000; prices we last saw back at the beginning of May. If bitcoin falls below that level, then keep an eye on $49,000. Read more: On the Margin Newsletter: How low BTC’s…
An on-chain smart money trader recently purchased 4,000 ETH tokens worth $12.58 million, making a move that aligns with their past successful trading patterns. This trader, noted for a 100% win rate, has consistently bought ETH at lower prices and sold at higher prices, accumulating a profit exceeding $38 million since November 2022. Lookonchain, a well-known crypto surveillance, called attention to this trader’s activities in a recent update. Strategic Buy and Sell Patterns The smart money trader’s history of ETH transactions reveals a clear strategy of capitalizing on price dips. Between November 2022 and May 2024, they bought and sold…
WLD is trading at $2.457, having risen by 15% after the announcement. It is up by 26% over the past 24 hours. The unlock schedule for early investors and team members has been increased from three years to five years, reducing the planned rise in circulating supply. Decentralized identity project Worldcoin has announced that it is extending lockups for early investors and team members, which has led to the project’s native token (WLD) rising 15%. WLD is now trading at $2.457, up from $2.147 when the announcement was made, compounding a daily gain of 26%, CoinDesk data shows. “The unlock…
Bitcoin’s correlation to macro factors remains a hot topic as global monetary policies and the asset’s price slumped over the last month Token Bay Capital founder and managing partner Lucy Gazmararian said in a CNBC interview Wednesday morning that Bitcoin (BTC) can move in tandem with the stock market. The trend appears more evident as digital assets become entangled with traditional finance, Gazmararian noted. Analysts have marked a correlation between BTC and macroeconomics due to geopolitical uncertainty and global monetary policies like rate hikes or cuts employed by the U.S. Federal Reserve. Reverse may also be the case in some…
Ethereum (ETH) price optimism is again on the rise, with positive news, predictions, and macroeconomics moving the markets. In this context, observers have spotted Ethereum whale traders making massive buys and accumulating ETH, signaling a dominating bullish bias. On August 2, Lookonchain reported a notable Ethereum trader making waves in the cryptocurrency market with massive historical gains. This whale, in particular, has a remarkable 100% win rate with ETH trades, profiting more than $38 million since 2022. Notably, this entity has been actively buying 17,012 ETH since May 29, at a $61 million dollar-cost average (DCA). The most recent purchase…
MANTRA, a layer-1 blockchain platform specializing in real-world asset (RWA) tokenizations, has reached a new all-time high for its OM token. Driven by the anticipation of a major OM token giveaway event, this surge has captured significant attention from investors and participants. Strategic Moves and Partnerships Fuel MANTRA’s Unprecedented Growth Yesterday, MANTRA announced that Season 2 of the MANTRA 50 million OM GenDrop starts on July 17. The initiative invites participants to join MANTRA.ZONE and complete tasks on the Galxe project page to earn OM tokens. Early participants on MANTRA.ZONE will receive exclusive rewards. To ensure fair competition, the team…
The Digital Chamber, a key player in blockchain and digital asset promotion, has called on every US senator to support the “BITCOIN Act of 2024” introduced by Senator Cynthia Lummis on July 31. In a letter shared on August 1, the Chamber said the bill is in line with national interests, demonstrates fiscal responsibility, and eases economic burdens through technological advancement. Today, we’re hand-delivering this letter 👇 to every U.S. Senator urging them to support the BITCOIN Act of 2024. #Bitcoin is our future, and this bill ensures the U.S. leads in global economic innovation. Thank you @SenLummis for your…
Bitcoin (BTC) fell back towards $60,000 on Wednesday, after a wallet tagged to the U.S. Government moved about $240 million worth of seized BTC to a Coinbase Prime address, igniting concerns among traders that the digital assets will likely to be sold. Some 3,940 bitcoin originally seized from a Silk Road vendor was moved by the the wallet, according to an Arkham Intelligence social media post. “This BTC was originally seized from narcotics trafficker Banmeet Singh, and forfeited at trial in January 2024,” the post said. The last movement by the government— which in late 2022 seized roughly 50,000 bitcoin…
Ethereum, the second-largest cryptocurrency, might be the cheapest to use in about nine months, data from on-chain sources reveal. According to on-chain analytics firm IntoTheBlock, Ethereum fees fell to a nine-month low this week as gas costs dropped to as low as one gwei, or around $1 for a swap transaction. This is the lowest level in the past nine months, dating back to December 2023. Ethereum fees reached a nine-month low this week, with gas costs dropping as low as 1 gwei (~$1 for a swap transaction) pic.twitter.com/f2Br1dfBtd — IntoTheBlock (@intotheblock) August 2, 2024 Per a graphic posted by…
Cardano is preparing for one of its most historic upgrades, the Chang hard fork, and a major alert has been issued for node providers. Intersect, a member-based organization for the Cardano ecosystem, sounds this alert in a tweet: “It’s upgrade season for SPOs. Node 9.0.0 is out and includes all the changes needed for the Conway ledger era. Better known as the first node candidate to bring on-chain decision making to Cardano mainnet.” It’s upgrade season for SPOs! Node 9.0.0 is out and includes all the changes needed for the Conway ledger era. Better known as the first node candidate…