Author: NBTC
Cryptocurrency analytics firm Alphractal has examined the current valuation of Bitcoin using the Short-Term Flow Fair Value metric and clarified whether BTC is cheap or expensive in the current market conditions. The Short-Term Flow Fair Value metric measures the relationship between new Bitcoin issuance and its absorption by the market. It takes into account the following: BTC inflows and outflows on exchanges affecting trading liquidity. Miner supply as miners frequently sell BTC to cover operational expenses. Transaction fees play a role in supply and demand dynamics. A high Short-Term Flow Fair Value indicates that more BTC is being absorbed by…
This is a segment from The Drop newsletter. To read full editions, subscribe. Wanna be a wizard? Taproot Wizards, a collection of “magic internet jpegs” inspired by the 2013 r/Bitcoin wizard, are holding their first-ever public sale. This sale is happening two years after the Wizards were inscribed onto Bitcoin as Ordinals. Unlike traditional NFTs, Ordinals are pieces of data or art attached directly to satoshis (sats), which are 1/100,000,000th of a bitcoin. 2,085 Wizards will be up for sale through the project’s website starting March 25, with additional honorary Wizards to be inscribed soon and not included in the…
Canary Capital has launched the Canary AXL Trust for institutional investors to gain exposure to the Axelar native token, AXL, which jumped 12.5% after the news. According to the press release, the Canary AXL Trust is meant to be a private, single-asset investment vehicle designed to hold AXL (AXL), the native token of Axelar Network. Canary has appointed Coinbase as the official custodian for the AXL Trust. The newly launched Canary AXL trust is available exclusively to accredited investors and grants them the chance to explore other crypto assets beyond Bitcoin (BTC) and Ethereum (ETH), specifically the AXL token. In…
A few hours ago, Michael Saylor, executive chairman of Strategy, called on the US government to acquire 20% of Bitcoin’s network today at the Conservative Political Action Conference (CPAC), arguing it would secure America’s dominance in the digital economy. My talk at the @CPAC conference this morning focused on Bitcoin, freedom, and economic empowerment.pic.twitter.com/eOFCnYa7qu — Michael Saylor⚡️ (@saylor) February 20, 2025 “If you want to own the future, you want to own cyberspace. How do you own cyberspace? You own Bitcoin, and then you run the Bitcoin network. You mine Bitcoin; you own Bitcoin,” Saylor said. Saylor predicted the US…
At a time when crypto and stocks market are in reverse gear, NFT market continues to make waves, with many collections getting significant sales volume. As per the data from Phoenix Group, Courtyard, DMarket, and CryptoPunks are the prominent NFT collections in line with the sales volume this week. The crypto data and analytics firm took to social media to share the list of top weekly NFT sales volumes. Courtyard Dominates Top NFT Collections by 7-Day Sales Volume Courtyard is the top NFT collection for sales volume over the past seven days. It witnessed $10.44M in weekly sales, accounting for…
The Shiba Inu ecosystem continues to grow, having added about 840,000 addresses over the past year alone. Notably, the recent growth feat comes amid a year of mixed performance from the meme coin, with 2024 bringing it closer to its all-time high than previous years. For context, SHIB managed to reach a peak of $0.000045 in March 2024, with just a 96.5% extra increase to reclaim the 2021 all-time high of $0.00008845. Shiba Inu eventually lost this position, and despite the market-wide uptrend in Q4 2024, the asset failed to recover the yearly peak. Now, SHIB has dropped below the…
The head of digital assets research at exchange-traded fund issuer VanEck says Bitcoin (BTC) has more upside potential. In a new interview on the David Lin report, Matthew Sigel says that over the near term, Bitcoin could go up by around 87% from the current level this year if the flagship crypto asset behaves like it previously has during the past three cycles. “In the near term, we do tend to assume that the four-year cycle will hold until the market tells us otherwise. And the most explosive part of the Bitcoin cycle tends to happen in the one year…
Bitcoin is inching closer to reclaiming the much-coveted $100,000 level, currency trading at $98,407, according to CoinGecko data. Earlier this Thursday, Bitcoin reached an intraday high of $98,504 after a 2.5% price increase. The flagship cryptocurrency is now nearing key horizontal resistance. 🚨 Crypto alert:[#BTC-#USDT] Near Horizontal Resistance (1h) pic.twitter.com/zR365x5aMU — 100eyes Crypto Scanner 🌐 (@100eyesCrypto) February 20, 2025 Over the past two weeks, the bulls have repeatedly tried and failed to gain a foothold above the $98,000 level. Bitcoin has not traded above the $100,000 level since Feb. 7, prompting some speculation about whether or not the cryptocurrency’s rally…
Despite the high crypto market volatility, Crypto analyst Ali Martinez has forecasted a bullish outlook for Dogecoin, predicting that the meme coin price could hit $5.80 very soon. This prediction comes at a time when whale activity on the DOGE network has decreased significantly in the past weeks. Meanwhile, the ChowWow presale has continued to make waves across the crypto market, driven by its strong use case. While the Solana network has faced scrutiny in the past week due to issues of rug pool, ChowWow is developing a meme coin that is backed by a play-to-earn model. With that, game…
Ben Gagnon, Bitfarms’ Chief Executive Officer, shared his thoughts on how new geopolitical challenges from the Trump administration would impact the Bitcoin mining industry. Gagnon said during a Bloomberg TV interview on March 11 that both the US and Canada have been energy-driven economies for more than 200 years. Blessed with easy access to affordable power has been a key driver of economic growth over the past two centuries. However, he explained that the ongoing trade tensions and tariffs could have downstream effects on the energy markets, which are critical for Bitcoin mining. “All of our sites are based in…