Author: NBTC
The two largest cryptocurrencies, Bitcoin and Ethereum, are moving in opposite directions, creating confusion among investors. According to data from CoinGecko, Ethereum (ETH) fell 7% last week to $2,525, while Bitcoin (BTC) remained relatively stable at $68,957. This divergence is notable because Bitcoin and Ethereum typically rise and fall together. Ben Caselin, chief marketing officer at crypto exchange VALR, explained that while Ethereum has outperformed Bitcoin in previous cycles, this time the dynamic has changed. Aside from the impressive rally of Solana (SOL), which has gained nearly 7% in the past week, Bitcoin’s resilience can be attributed to two key…
Prominent cryptocurrency market maker Wintermute has recently ramped up its Bitcoin deposits into key exchanges, as indicated by on-chain data from The Data Nerd. This escalation in BTC transactions could signify a rising selling pressure in the market. Contents hide 1 Which Exchanges Are Seeing Increased BTC Deposits? 2 What Impact Do Wintermute’s Actions Have on Market Sentiment? 3 Key Takeaways for Investors Which Exchanges Are Seeing Increased BTC Deposits? Recent information reveals that Wintermute has deposited a total of 575 BTC, valued at approximately $32.34 million, into Binance, Kraken, and Bitfinex in the last 24 hours. This significant movement…
Ethereum (ETH) has witnessed a decline in demand over the past few months. Due to this slowdown in blockchain activity, the Ether burn rate has been reduced. This has increased the coin’s circulating supply and put downward pressure on its price. In a new report, digital asset research firm 10X Research highlights what might be responsible for this. Ethereum Begins to Lose Its Shine In its latest report, 10X Research highlighted falling staking yields on the Ethereum network as a major factor contributing to the decline in blockchain activity. For instance, the Annual Percentage Rate (APR) for users on Lido,…
Tranglo expands services to Brunei, focusing on faster and more secure remittances for migrant workers through Ripple’s blockchain. Instarem integrates Apple Pay with Amaze card, enhancing the ease of contactless cross-border payments via mobile devices. Tranglo, a Ripple partner, has expanded its services to Brunei, highlighting the company’s continued growth in Southeast Asia. This growth is particularly noteworthy given Brunei’s sizeable migrant labor community, many of whom rely on cross-border remittances to support their family back home. #Ripple partner Tranglo is expanding service to Brunei. The workforce has many migrant laborers from nearby countries. Interesting to see the “8 supported…
BTC’s 200-day SMA is close to shedding its bullish bias for the first time since October. Short-term averages have already flipped bearish. The nonfarm payrolls report due later Friday is likely to show the U.S. jobless rate ticked lower in August. The 200-day simple moving average (SMA) of bitcoin’s (BTC) price, a widely tracked barometer of the largest cryptocurrency’s long-term trajectory, is about to lose its bullish momentum ahead of key U.S. jobs data that is set to influence the Federal Reserve’s interest-rate outlook. Since late August, the gauge has averaged a daily increase of less than $50, well below…
Justin Bons, the outspoken founder and CIO of Cyber Capital, has stirred crypto twitter with a salvo of tweets scorning the Ethereum ecosystem. The former Ethereum supporter, now turned critic, unnerved several crypto enthusiasts with his claims that the blockchain was cooked. He argued that self-interest had led Ethereum to prioritize the development of layer two (L2) chains over scaling its base layer (L1). Consequently, the blockchain had slid into Bitcoin’s irrelevance, effectively moving it beyond salvage. Bons tweeted: 1/9) Ethereum is cookedCorrupted by L2 VC funding & tokens, nobody is scaling ETH’s L1 anymore; they will not allow it!That…
Xandeum, a blockchain storage layer platform on Solana, plans to unveil a scaling solution, liquid staking program, and the native token XAND on September 20, 2024. According to a press release shared with crypto.news, Xandeum will roll out these features and the XAND token at the Solana (SOL) Breakpoint 2024 conference in Singapore. Scaling Solana’s storage model Some of the biggest announcements in the Solana ecosystem have come during its Breakpoint conference, including the Firedance testnet in 2023. The community expects more at Breakpoint 2024 Singapore. Xandeum says its storage layer will scale Solana’s current storage model, with the technology…
As Bitcoin’s price retraces, large holders known as whales are seizing the moment, quietly accumulating while retail investors offload in fear. This trend, highlighted by data from Santiment, suggests that these influential players are seeing opportunity in the recent market downturn, even as headlines continue to warn of crashes and bear markets. Bitcoin Whales on a Buying Spree Brian Quinlivan, Lead Analyst at Santiment, notes a significant uptick in whale accumulation over the past three months. According to Santiment’s data, Bitcoin wallets holding at least 10 BTC have increased their balances by 34,200 BTC, worth roughly $2.15 billion, since June,…
Ethereum co-founder Vitalik Buterin recently shared new insights in “The Possible Future of the Ethereum Protocol (Part 6: The Splurge),” outlining ambitious goals to advance the Ethereum ecosystem. In this phase, Buterin emphasized the importance of achieving a high-performance, stable “final state” for the Ethereum Virtual Machine (EVM), which is central to the protocol’s functionality. Possible futures of the Ethereum protocol, part 6: The Splurgehttps://t.co/OabLldVCqj — vitalik.eth (@VitalikButerin) October 29, 2024 Vitalik Buterin defines account abstraction as one of the major objectives of this stage. Buterin aims to enhance user experience and security, making Ethereum accounts more convenient and safer…
Musician and meme coin figurehead Iggy Azalea claims that was told that she couldn’t twerk onstage alongside a group of dancers at this week’s Solana Breakpoint conference as it “would go too viral.” Azalea said that she canceled her appearance at the event following the late news, which she described as a “bait and switch” from conference organizers. The Australian rapper released a Solana meme coin called MOTHER in June amid the celebrity token boom. Unlike many others who hopped on the celeb coin trend, Azalea has continued to promote her project and is bringing utility to holders via partnerships.…