Author: NBTC

Bitcoin (BTC) continues to consolidate below the $65,000 mark, which serves as the new resistance level, with the market looking for the possibility of a price bottom that can act as an anchor to a new rally. In line with this, cryptocurrency trading expert TradingShot shared insights on Bitcoin’s current state in a TradingView post on April 29, highlighting the imminent test of the bottom of the Bollinger Bands (BB) in the three-day timeframe. This impending test, set for the first time in three months, indicates a tightening squeeze between the BB and bottom bases, historically signaling a bottoming out…

This article examines seven newcomers in the crypto trading landscape with the potential for explosive rallies this bull season. During the just-concluded opening quarter of 2024, numerous crypto tokens debuted. Many of them have already demonstrated the potential to spark significant rallies in a full-fledged bull market. The Crypto Basic explores select new market entrants that have made notable strides in this initial phase of this bull run. Jupiter (JUP) Jupiter (JUP) is a decentralized exchange built on the Solana blockchain. On January 31, it launched and distributed $700 million worth of its platform token, JUP, marking what many consider…

The former Head of Crypto Ops at Revolut, Ruslan Fakhrutdinov, has launched a crypto exchange with an investment of $6.5 million. Tioga Capital, Semantic Ventures, Cherry Ventures, Starkware, and Cyber Fund are some investors in the new exchange dubbed X10. According to the press release, executives from Revolut and the Founder of Lido, Konstantin Lomashuk, have invested in the crypto exchange. X10 combines aspects of a centralized exchange and a decentralized finance platform. It promises full self-custody of digital assets and on-chain settlement of transactions. “With X10, we want to give our users and traders the best of both worlds.…

One of the most trustworthy blockchain networks, the Core Chain, has released ALEX Foundation-developed Bitcoin bridge, the XLink. It is a technological revolution that will ensure that Bitcoin is used wilder, decentering finance from Core Chain platform. XLink’s main job is to link Core Chain and Bitcoin assets, with Asset Swap being a service provided. It does not only provide a smoother investments interface for DeFi but also helps the growth of Bitcoin entering decentralized finance. 1/ Core Chain introduces @XLinkbtc, Bitcoin bridge developed by @ALEXLabBTC Foundation, enhancing Bitcoin integration into DeFi on Core Chain. This bridge enables direct asset…

As of April 29, 2024, bitcoin remains under considerable bearish pressure according to multiple indicators across different time frames. Currently trading at $62,279, bitcoin has shown a 24-hour range between $61,994 and $63,929. Bitcoin Bitcoin’s (BTC) daily chart presents a stark bearish trend with a series of lower highs and lower lows, suggesting that sellers maintain a strong grip on the market. The presence of bearish downturns hints at a potential slowdown in momentum. However, the declining volume accompanying the price drop leaves room for ambiguity regarding a near-term reversal. Crucial for traders will be the support level at approximately…

The token unlock schedule by TokenUnlocks, a digital assets aggregation platform, shows 17 cryptocurrencies with individual token unlock values greater than $10 million in April. According to data on the platform’s website, the sum of the “large-value” unlocks will exceed $1.38 billion. According to TokenUnlocks, large-value unlocks (unlocked value greater than $10 million) in April included DYDX ZETA SUI GAL APT CYBER STRK ARB APE AXS IMX PIXEL ID YGG AGIX OP PRIME with an unlocked value exceeding $1.38 Billion.https://t.co/tuQYnSlfTZ pic.twitter.com/9z4lGB2p5X — Wu Blockchain (@WuBlockchain) March 31, 2024 A tabulated schedule of the token unlock shows the exercise will begin…

Russia is not planning to outlaw crypto turnover in the country, an official said, emphasizing the need for accurate reporting over sensational headlines. Russian lawmaker Anton Gorelkin, who serves as the deputy chairman of the State Duma Committee on Information Policy, Information Technologies, and Communications, clarified the country’s stance on cryptocurrency turnover. In a Telegram post, Gorelkin, who’s also the co-author of a bill aimed at banning crypto exchanges in Russia, said that crypto turnover itself will not be outlawed, criticizing news outlets for making sensational headlines instead of checking the facts. “The crypto turnover of course will not be…

Holograph, an omnichain tokenization protocol that mints NFT assets that can be utilized across multiple chains, announced Monday that it has raised a new strategic round of funding as it expands into the growing blockchain gaming space. The latest round of funding amounts to $3 million, and was led by Mechanism Capital and Selini Capital. The strategic round pushes Holograph’s total funding to date to $11 million. Blockchain games typically require networks that are low in fees and high in transaction speed. Some layer-1 networks like Solana and Avalanche fit the bill, as do generalized Ethereum scaling networks like Optimism…

The open interest (OI) funding rate for Bitcoin (BTC) futures and the MVRV ratio are showing “advantageous buying opportunity,” according to the latest “Bitfinex Alpha” report. The OI turned positive on April 24, suggesting a growing interest in long positions and a shift from bearish to bullish market sentiment. Meanwhile, the MVRV, which measures Bitcoin’s market value versus its fair value, has declined to 2.21, hinting at potential undervaluation. “When the MVRV ratio dips below its 90-day average, which is currently at 2.44, it has been followed by significant returns for the underlying asset, averaging 67 percent. This pattern indicates…

This month we have witnessed a continuous expansion in the stablecoin domain, eclipsing the $150 billion mark on March 20, 2024, with an infusion of an additional $1.4 billion into the arena since then. Leading the pack in supply growth for March was Ethena’s USDE, soaring by 194.9% over the last 30 days. Top Dollar-Pegged Token Valuations Climb in March; Key Players Shift Ground As the cryptocurrency market rides a bullish wave, the stablecoin sector has experienced consistent monthly growth throughout the year. The tally for March reflects this trend, with the market for U.S. dollar-pegged digital currencies increasing from…