Author: NBTC
Bitcoin’s price on May 29, 2024, reflects a period of consolidation following recent volatility. The current price stands at $67,739 with an intraday range of $67,201 to $68,880. Technical indicators and moving averages provide a mixed outlook, indicating both potential stability and the possibility of future movements. Bitcoin Bitcoin’s 1-hour chart reveals a high of $69,513 and a low of $67,193. The sharp decline followed by sideways movement signifies a lack of strong momentum in either direction. Volume spikes are seen during the sharp movements, yet recent lower volumes suggest trader indecision. Key levels to monitor are the support at…
Ethereum-oriented NFT collectibles like Pudgy Penguins and Bored Ape Yacht Club, have been on a downward swing since Blur farmers have aired their opinions. In the case of the competition, the scenario seems to be no different. For instance, DeGods has declined by 32%, whereas Azuki has seen a fall to the extent of 15%. CryptoPunks too is witnessing a drop of 13%, reminding one of the trade prices about the end of last year. NFT marketplace, Blur, has been involved in an airdrop farming scheme, through which users come in for rewards having been removed and boosted by Blast.…
Ethereum price started a fresh increase from the $3,350 support zone. ETH is outperforming Bitcoin and might rise further toward the $3,650 resistance. Ethereum is gaining pace from the key $3,365 support zone. The price is trading above $3,450 and the 100-hourly Simple Moving Average. There was a break above a key bearish trend line with resistance near $3,460 on the hourly chart of ETH/USD (data feed via Kraken). The pair formed a double-bottom pattern and gained pace above the $3,500 resistance. Ethereum Price Holds Key Support Ethereum price remained well-bid above the $3,350 support zone. ETH formed a base…
Over the past 12 months, bitcoin (BTC) has appreciated more than 168% against the U.S. dollar, a notable performance compared to other asset classes globally. However, seven out of the top ten gainers in the past year have been meme coins, with the crypto assets TRUMP, WIF, BOME, BONK, MOG, and TURBO leading the charge. Meme Coins Dominate Crypto Market Performances: Top Gainers Include TRUMP and WIF During the past year from June 12, 2023, to June 12, 2024, meme coins have dominated the cryptosphere. BTC and ETH recorded gains of 168% and 109%, respectively, but it was the humorous…
Regulation through enforcement often yields suboptimal outcomes for all stakeholders, including consumers, as it creates a negative stigma around industry companies,” asserted the co-founder of an Australian crypto startup. The co-founder expressed optimism that the Australian Securities and Investments Commission’s recent court setback would encourage Parliament to establish a regulatory framework for the Aussie crypto industry. Regulators Must Differentiate Between Bad Actors and Those Acting in Good Faith Regulation through enforcement actions often yields the worst outcomes, not only for regulators but also for users, as it creates a negative stigma around industry companies, Charlie Karaboga, co-founder of the Australian…
Azuro will be coming out with an exclusive grants scheme for funding the development of applications with the utilization of Azuro on Polygon PoS. This will include the furthering of on-chain prediction applications targeting sports, as well as entertainment-related projects. Added to that, the scheme will be offering financial and technical backing to the connected builders. This is being seen as a first step towards fortifying the bond with the Polygon community. In the very near future, builders will be provided the option of forwarding their projects for scrutiny. The scheme will entail the allocation of $20,000, coming under two…
The enigmatic world of Bitcoin continues to captivate investors with its price fluctuations. However, a recent analysis by Cryptorphic, a prominent crypto analyst, suggests the future might be brighter than recent dips might indicate. Their prediction? Bitcoin hitting a staggering $156,000 by May 27th, 2025. The Halving Effect: A Historical Catalyst Cryptorphic’s prediction hinges on a historical phenomenon known as the halving. Every four years, the number of Bitcoins rewarded for mining new blocks is cut in half. This, in theory, reduces the supply of new coins entering the market, potentially driving up the price of existing ones. His analysis…
The spread between ether and bitcoin implied volatility indexes has widened, reflecting excitement about the potential debut of spot ETH ETFs in the U.S. Volatility pricing may be off the mark because institutions might use the spot ETFs to set up non-directional basis trades, as they have been reportedly doing in BTC. Demand for ether ETFs may be tepid. Spot ether exchange-traded funds (ETFs) are expected to begin trading in the U.S. this year. The highly anticipated debut has investors positioning for higher volatility in the ether (ETH) price relative to bitcoin (BTC). There’s a possibility that the excitement about…
Prominent CNBC host Jim Cramer has caused a substantial amount of excitement within the cryptocurrency community by posting a picture with Australian rapper Iggy Azalea on his X social media profile. Azalea, who is dressed in a white graphic T-shirt with an image of sunflowers, a pleated mini skirt with subtle pinstripes and black knee-high boots, is pictured hugging the 69-year-old stock picker after the opening bell on the trading floor of the New York Stock Exchange. With Iggy Azalea, after opening bell! pic.twitter.com/qpF8FXemQr — Jim Cramer (@jimcramer) June 12, 2024 The image immediately went viral on the X social…
The FSB will undertake more work on the risks posed by stablecoin arrangements in emerging and developing economies. It will also consider the challenges emerging from higher levels of stablecoin adoption in the crypto sector. The Financial Stability Board (FSB), which monitors the global financial system for systemic risk, said it will undertake further work on the challenges posed by stablecoins in emerging and developing economies. The decision was taken during a meeting in Toronto of the FSB’s plenary, the sole decision-making body of the standard-setting and advisory organization, according to a Friday statement. A stablecoin is a cryptocurrency whose…