Author: NBTC
Ethereum price has dropped below $3,000, hitting lows of $2,942 on Coinbase. The decline in the price of Ethereum comes as spot ETH ETFs saw a tepid debut in Hong Kong. Liquidations hit $320 across the crypto market, with over $96 million in ETH (over $78 million of it in liquidated longs). Ethereum has declined to below $3,000 again as the broader crypto market reels from downside pressure. As Bitcoin retested prices near $60,000 on Tuesday, ETH price moved lower and broke under the psychological $3k level. On crypto exchange Bitstamp, ETH/USD reached lows of $2,945 while the second largest…
According to on-chain data, a substantial amount of 16 million XRP has been transferred from Upbit, one of South Korea’s largest cryptocurrency exchanges, to an unknown wallet. The movement of a large amount of XRP from Upbit to an unknown wallet has led to speculation within the cryptocurrency community about the possibility of a whale buying XRP. The transfer was detected and reported by Whale Alert, a service that tracks large cryptocurrency transactions: “16,000,000 XRP worth $10,027,185 was transferred from Upbit to unknown wallet.” 🚨 16,000,000 #XRP (10,027,185 USD) transferred from #Upbit to unknown wallethttps://t.co/5aLp1phiEs — Whale Alert (@whale_alert) March…
A Russian “crypto ban’ could roll out as early as September 1, top lawmakers in the country have confirmed. Speaking to the media outlet NSN, the Chairman of the State Duma Committee on the Financial Market Anatoly Aksakov said lawmakers will vote on a “ban on organizing the circulation of cryptocurrencies” in the coming weeks. Russian ‘Crypto Ban’ – What We Know Aksakov stated that the bill will stipulate that “only digital financial assets issued in Russian jurisdictions” will be exempted from the new law. These assets will include several Russian bank-issued blockchain-powered digital coins and the Central Bank’s digital…
Ash Crypto’s recent X post analysis challenges the previous belief that Bitcoin’s peak was $74,000, providing a detailed argument rooted in both on-chain indicators and historical price movements. By examining key metrics like the MVRV Z-Score, NUPL, and Pi Cycle Top, Ash Crypto suggests that the current correction in Bitcoin’s price is within normalcy during a bull market, rather than indicative of a definitive market top. Dispelling Bitcoin’s Top Myths Drawing comparisons to previous market cycles, particularly the significant price drops of 50% and 40% during the peaks of 2017 and 2021 respectively, analyst underscores the relatively modest 16% decline…
Ethereum (ETH) price is noting a sharp decline at the time of writing, but it is actually validating a bullish pattern. Supported by the market conditions, the second biggest cryptocurrency on the planet has a shot at $4,000. Ethereum Investors Remain Bullish Ethereum’s price dipped to $3,000 in the last 24 hours, but this validated a key test of the upper trend line of a descending wedge. The altcoin’s potential for gains is backed by the fact that optimism among ETH holders is still alive. As evident from the Net Unrealized Profit/Loss (NUPL) indicator, the ETH holders still hold substantial…
cc0 NFT mfers NFT collection founder Sartoshi launched a memecoin called mfercoin on the Base network early this morning. The new coin was distributed as an airdrop to mfer NFT owners. Mfercoin’s market capitalization has already exceeded $300 million and transaction volume exceeded $76 million. The base price of the mfer NFT has increased significantly by over 60% in the last 24 hours, reaching over 0.6 ETH. However, the memecoin in question lacks any use case or intrinsic value, and its price rises and falls based entirely on speculation. In addition, since it is released by an anonymous developer, there…
The following is a guest post by Nikita Ovchinnik, the Co-founder at Barter DeFi. DeFi may be “in the crosshairs” of the SEC, as Forbes magazine recently stated after the SEC action against Uniswap. Still, the matter raises valid concerns that DeFi simply must address for the sake of its future. According to Uniswap, the Wells notice suggests potential enforcement action, alleged acting both as an unregistered securities broker and an unregistered securities exchange. The SEC alleges that certain tokens traded on Uniswap, such as those issued through ICOs, constitute investment contracts and, therefore, securities. By enabling the trading of…
Recent market developments and strategic investments signal a potential surge for Bitcoin towards the $80,000 mark. Decreased outflows from Grayscale’s GBTC and reduced mining costs are bolstering Bitcoin’s market position. BlackRock’s influence and lower Ethereum gas fees contribute to a favorable outlook for Bitcoin’s price. This article examines Bitcoin’s potential rise to $80,000, supported by strategic market movements, investment shifts, and improvements in mining efficiencies. Optimistic Market Indicators and Bitcoin’s Trajectory Bitcoin Daily Chart BTCUSDT 30 APR Recent developments suggest a positive shift in Bitcoin’s trajectory towards the $80,000 price point. Despite previous predictions of a market downturn, factors such…
Ethereum has entered an ascending price channel, which could dictate its performance in the short term. This technical formation suggests a cautiously optimistic outlook but also flags potential risks ahead. The ascending channel observed on Ethereum’s daily price chart shows that ETH has been achieving higher lows and higher highs, a bullish indicator in traditional market analysis. However, the current positioning near the lower boundary of the channel around $3,000 raises concerns about a possible breakdown acceleration. If Ethereum fails to hold this level, it could see a correction toward the $2,700 mark, which would signify a significant shift in…
Daniel Cheung, co-founder of Syncracy Capital, says a bullish run is just around the corner for Filecoin (FIL). Cheung describes FIL as a “sleeping giant” poised to awaken during this cycle. Significance of Banyan & Basin launch The Syncracy Capital co-founder took to X to express his bullish sentiment on Filecoin. He gave three key reasons for his optimism and shared the same with members of the crypto community. These include the potential launch of Banyan & Basin, other key primitive launches and being versatile beyond being a storage protocol. Cheung maintains that the imminent launch of Banyan & Basin…