Author: NBTC
Bitcoin remained stable over the weekend, trading between $54,000 and $55,000, following a significant liquidation of crypto long positions after a U.S. jobs report indicated a weaker labor market. Upcoming events this week include a Presidential debate and the release of U.S. economic indicators like the CPI and PPI, with market analysts from Presto Research suggesting Bitcoin is undervalued due to its record-high network security despite prevailing macroeconomic concerns. Bitcoin (BTC) was little changed over the weekend ahead of a busy week that includes a much-awaited Presidential debate and the release of key U.S. economic figures that track changes in…
The non-fungible token sales volume over the last week has dropped by 7%, and stands at $89.1 million. The crypto market, exhibiting signs of recovery, has taken a U-turn. According to the latest data, the global crypto market cap has dropped by over 2% in the last 24 hours. In comparison to last week’s $93 million NFT sales volume, this week has witnessed a modest 7% drop in sales: NFT sales volume plunged to $89 million. The Ethereum (ETH) network retains its first ranking in terms of volume. Solana dethrones Bitcoin (BTC) to claim the second position. NFT buyers surge…
Ethereum has experienced a sharp retrace, dropping over 13% since Monday and stirring concerns among investors who had anticipated a breakout. This sudden pullback, which took ETH as low as $2,380 on Friday, has injected a sense of worry into the market, leaving many to question the strength of its recent rally. However, on-chain data from Santiment reveals an intriguing development—whale activity in Ethereum surged to a six-week high just as the price dipped. This spike in large transactions suggests potential accumulation by whales, a pattern often viewed as a bullish signal when occurring near key support levels. Historically, significant…
Bonk Inu (BONK), a Solana-based meme coin, has made a notable advancement by announcing its upcoming launch of an exchange-traded product (ETP) in the U.S. This significant move sees collaboration with New York-based Osprey Funds, renowned for assisting in the creation of pioneering Bitcoin ETFs and the Solana Trust. “This is a groundbreaking step towards a BONK ETF,” an announcement at the recent Solana Breakpoint event revealed, promising increased visibility and potential price impact for the token. Bonk Inu sets the stage for meme coins with its forthcoming ETP launch in the U.S., stirring considerable optimism within the crypto community.…
The U.S. has accused a businessman of running an unlicensed cryptocurrency operation that allegedly enabled secretive “off-the-books” transactions. Unlicensed Crypto Transactions: Businessman Christopher Scanlon Indicted on Federal Charges Christopher James Scanlon, a Florida-based businessman, faces federal charges for allegedly operating an unlicensed cryptocurrency and fiat currency transmitting business, the U.S. Department of Justice (DOJ) announced. Scanlon, originally from Utah, was arrested on Oct. 10 at Miami International Airport and later pleaded not guilty in Newark federal court. According to the indictment, Scanlon, CEO of Aurae Lifestyle and Club Swan, managed entities such as PMA Media Group and AU Card LLC,…
Georgia’s leading opposition party, the United National Movement, launched United Space, an identity app powered by Rarimo ahead of the Oct. 26 parliamentary elections. According to a report on Alexa Blockchain, the app aims to use the block-chain powered system to combat low voter turnout in Georgia by rewarding citizens for participation, regardless of their political stances. If elected, the party wants to use the app to “digitize” the Public Service Hall as a platform for experimenting with Universal Basic Income, with the proceeds returning to citizens. Powered by zero-knowledge social protocol Rarimo, the United Space app wants to implement…
A closely followed crypto strategist says he’s seeing signals that Bitcoin (BTC) is in the early stages of reversing its latest correction. Pseudonymous analyst Credible Crypto tells his 417,400 followers on the social media platform X that Bitcoin trader activity suggests that BTC could be setting up for a short squeeze. A short squeeze happens when traders who borrow an asset at a certain price in hopes of selling it for lower to pocket the difference are forced to buy back the assets they borrowed as momentum moves against them, triggering further rallies. The trader says he’s bullish on Bitcoin…
As market analysts closely observe the Ethereum ecosystem, the upcoming week is expected to bring renewed activity, signaling a potential breakout for various assets linked to Ethereum, including Optimism (OP). OP’s price movements, in particular, have garnered attention as it consolidates near a crucial breakout area. Optimism’s price action above $1.75 is seen as a pivotal threshold that could lead to a bullish surge, or as some put it, “party time.” I think next week will be the week that the $ETH ecosystem wakes up.$OP is doing great, just consolidating.Above $1.75 = party time. pic.twitter.com/0MHrYVAJn8 — Michaël van de Poppe…
Indictments reveal how eight Chinese firms used cryptocurrency to obscure profits from illegal chemical sales. US Indicts Chinese Firms Using Cryptocurrency in Illicit Trade The U.S. Department of Justice (DOJ) has unsealed indictments against eight China-based chemical companies and employees for their alleged involvement in trafficking fentanyl precursor chemicals and laundering money through cryptocurrency. Filed in the Middle District of Florida, the charges reveal how these companies and individuals used cryptocurrency wallets, including bitcoin, to mask payments linked to illegal synthetic opioid sales. For example, Guangzhou Tengyue Chemical Co. Ltd. and Hubei Shanglin Trading Co. allegedly used bitcoin wallets managed…
The Russian government has enacted a new law regulating digital currency turnover, aiming to control Bitcoin and crypto mining activities, Russian news agency TASS reported Saturday. Set to take effect on November 1, the legislation enables the Russian government to ban digital currency mining in designated regions or territories. It also outlines the conditions under which such bans can be implemented. Under the new regulations, the government can regulate the activities of mining infrastructure operators, a shift from previous obligations to a now formalized right, the report stated. The law also broadens the scope of entities that can access digital…