Author: NBTC
Bitcoin (BTC) price’s recent journey has been a bumpy one, with its value seeing a pullback to around $93.5K. This brings into focus the critical $91K level, which serves as the average cost basis for short-term holders. BTC Price Takes a Hit Currently, Bitcoin‘s ability to sustain above this price is crucial for maintaining the bullish sentiment that pervades the market. Should this level hold, it might restore confidence among investors, potentially setting the stage for a recovery. However, those who bought in at or above $100K are now facing unrealized losses. The decision of this group to hold or…
Liquidity issues affected users on two decentralized finance (DeFi) platforms today, though for different reasons and with widely differing consequences. In what appears to be user error, three sizable swaps of 220,000, 131,000, and 91,000 of Circle’s USDC stablecoin netted a total of just over 10,000 tethers (USDT) after falling victim to a maximum extractable volume (MEV) bot. The swaps, made via the Uniswap V3 decentralized exchange, were flagged by blockchain security firm Peckshield, which regularly alerts the DeFi community to hacks, phishing attacks, and suspicious transactions. Read more: MEV bot to return $7.5M if Rho Markets admits to oracle…
Even as Bitcoin finds some buoyancy following a better-than-expected U.S. inflation report, Ethereum has been lagging behind. Since the new CPI report landed early Wednesday, the Bitcoin price has gained 3% as it holds key support levels. Meanwhile, the Ethereum price has been playing catch up, seeing a 0.5% gain, Coingecko data shows. Tracy Jin, vice president of crypto exchange MEXC, told Decrypt that a successful implementation of Ethereum’s Petra upgrade could significantly strengthen the fundamentals of the second-largest blockchain. If the upgrade resolves issues with network throughput and transaction costs, she said, it could enhance Ethereum’s appeal and drive…
This is a segment from the 0xResearch newsletter. To read full editions, subscribe. Crypto is a volatile industry for primarily two reasons: 1) it’s permissionless (anyone can make a token) and 2) it’s still largely looking for product-market fit. What does this mean to a short-term trader looking to flip a quick buck? If you’re trying to frontrun the market, you’d want to know when a certain narrative is falling in (and out of) favor. You can then spend absurd hours doomscrolling Twitter and Telegram groups — or you can use Kaito, a Web3-focused search engine that scrapes troves of…
One of the operators of sanctioned Russian cryptocurrency exchange Garantex was arrested in India on Tuesday, according to two recent news reports. Lithuanian national and Russian resident Aleksej Besciokov, 46, was reportedly arrested by police in the Indian state of Kerala, while vacationing on the country’s southern coast with his family, Techcrunch and KrebsonSecurity reported. Last week, a coalition of international law enforcement agencies from the U.S., Germany and Finland seized Garantex’s domains and servers and froze nearly $28 million in crypto tied to the exchange with the help of stablecoin issuer Tether. The exchange was sanctioned by the U.S.…
Daniel Kim transitioned from traditional banking to crypto, leading Maple Finance and co-founding Volta to enhance institutional lending and security. He sees Bitcoin’s role in DeFi growing, with BTC derivatives and Lightning Bitcoin improving institutional lending and liquidity in blockchain finance. The world of finance is constantly changing, but few people have adapted as quickly as Daniel Kim. From his early days in traditional banking to now driving invention in DeFi, Daniel’s path is one of flexibility, bravery, and forward thinking. Having so much experience, he is currently leading the unsecured crypto lending revolution. Daniel Kim: Seeing Beyond Traditional Banking…
As controversy swirled around the Ethereum Foundation (EF) this winter, one of Ethereum’s most respected architects was quietly plotting his next move. Danny Ryan—a key visionary behind Ethereum’s most ambitious upgrade, “The Merge”—left the EF in September but entered talks a few months later to rejoin the organization as its new leader. “I was in conversation with Vitalik [Buterin] and others to potentially go back to help run the Ethereum Foundation,” Ryan revealed in a candid interview with CoinDesk. But as the non-profit behind the second-largest blockchain underwent a dramatic leadership reshuffle, Ryan’s trajectory unexpectedly shifted elsewhere — towards bringing…
Berachain token price continued rising this week as the market reacted positively to its growing decentralized finance ecosystem. Berachain (BERA) climbed to $6.60 on Wednesday, up 31% from its lowest level following its airdrop earlier this week. Its market capitalization has risen to $717 million, making it the 92nd-largest cryptocurrency. Its fully diluted valuation increased to $3.29 billion. Berachain’s ecosystem has continued to grow, with the total value locked in its decentralized finance ecosystem surpassing $3 billion. Most notably, the stablecoin market capitalization on its network has surged to $930 million. This is a significant milestone, as stablecoins play a…
This is a segment from the Forward Guidance newsletter. To read full editions, subscribe. House representatives voted yesterday to overturn the IRS’s “DeFi broker” rule, which was passed in the final days of the Biden administration. The resolution — introduced under the Congressional Review Act — passed in a 292-131 vote. 76 Democrats voted in favor of abolishing the rule. The IRS’s rule required DeFi brokers to file 1099-DA forms, which are the newly approved tax forms that crypto exchanges must use starting in tax year 2025. Given that DeFi companies are not centralized, the requirements were unrealistic, industry advocates…
Robert Kiyosaki, investor, Bitcoin supporter and author of the popular book on personal finance management “Rich Dad Poor Dad” has addressed the millions of his followers on social media to talk Bitcoin to them. Kiyosaki has suggested that Bitcoin can eventually become a long-awaited solution to the issue that has been tormenting humanity throughout its history – poverty. His tweet published earlier was about Bitcoin and about getting richer/poorer and what is driving people in those directions. Kiyosaki on getting richer and poorer Kiyosaki started his most recent X post with a question on the topic he likes so much:…