Author: NBTC
Over this past weekend, Bitcoin (BTC) experienced a significant rally, pushing its price above $63,000—an increase of 5.6% since hitting a low below $60,000 on Friday. This unexpected surge occurred despite a lack of major news triggers, leading to speculations and analyses concerning the underlying causes. Here’s a deep dive into three key factors that might explain this weekend’s price action. #1 Mysterious Bitcoin Whale Activity According to DeFi^2 (@DefiSquared), the number one ranked trader on Bybit and a leading wallet on DeBank, a mysterious “whale” has been active in the Binance perpetual futures market. DeFi^2 noted significant buying activity…
Fairshake PAC has raised more funds than any other Super PAC for the 2024 cycle, according to Federal Election Commission data compiled by OpenSecrets. The Fairshake PAC has raised nearly $203 million, edging out the Make America Great Again Inc. Super-PAC, which has raised approximately $201 million. The Super PAC has so far spent approximately $14.5 million, with the vast majority — around $10 million — spent against Katie Porter when she was running for Senate. This group has received broad support from the crypto industry, led by Coinbase, which has committed over $45 million to the organization, with an…
The Shiba Inu community is intensifying efforts to have Binance burning SHIB tokens using a portion of the token’s trading fees. Popular community member Labib recently launched a petition on Change.org asking the world’s largest crypto exchange to implement a daily burn of 1% of all Shiba Inu trading fees on its platform. According to Labib, this move is necessary for the long-term success and sustainability of Shiba Inu. The community member highlighted that this proposal would help reduce the massive amount of SHIB in circulation, potentially increasing scarcity and increasing the price of the token. Labib said that while…
Is WazirX prioritizing its own survival over user security with the “socialized loss strategy,” and how does this impact the Indian crypto community? Table of Contents Pick your poison, but you can’t cash out WazirX’s recovery plan faces fierce backlash Take the taxes and stay quiet On July 18, WazirX, India’s largest crypto exchange, faced a severe cyber attack. Hackers targeted one of their multisig wallets and made off with over $230 million worth of digital assets. The attack saw the direct theft of 15,298 Ethereum (ETH), with the exploiter then swapping various tokens like Shiba Inu (SHIB), Polygon (MATIC),…
Tonkeeper, the leading non-custodial wallet for the TON ecosystem, has announced the launch of a premium fiat onramp through a new partnership with Mercuryo Pro. This collaboration aims to provide a secure way for individuals and businesses invested in TON’s blockchain ecosystem to make high-value cryptocurrency purchases, available to users worldwide. To facilitate these transactions, Tonkeeper has integrated Mercuryo Pro, a premium service tailored for substantial cryptocurrency purchases. This partnership allows high net-worth individuals (HNWIs) to buy cryptocurrency directly through the Tonkeeper platform for transactions exceeding €50,000. The solution is designed to support TON ecosystem participants, high-value buyers, and those…
Bitcoin (BTC) is once again showing a strong rebound, successfully establishing its price above the crucial $60,000 support zone. Amid short-term bullish sentiments, a crypto analyst believes that the asset’s historical price trajectory could prepare Bitcoin to hit $300,000. In line with this, pseudonymous analyst apsk32 noted in an X post on July 1 that a unique metric based on the power law could drive Bitcoin to a new all-time high. The expert pointed out that Bitcoin’s price has adhered to a power law for over a decade. This adherence suggests a fundamental growth process in the Bitcoin network, something…
Brazil is on the cusp of a significant transformation in its financial sector with the Central Bank of Brazil’s announcement to develop an AI-powered central bank digital currency (CBDC) super app, named “Drex.” This groundbreaking initiative is set to launch by 2025, positioning Brazil at the forefront of digital currency innovation and financial technology. The Vision for Drex The Central Bank of Brazil, under the guidance of its president, aims to streamline digital financial services through Drex. This super app will integrate artificial intelligence to enhance user experience and functionality. The goal is to create a comprehensive platform that not…
The CEO of Indian crypto exchange Coindcx has criticized Wazirx’s approach in response to a recent $230 million cyberattack. Urging Wazirx to take responsibility, he stressed: “Making customers directly absorb the 45% losses is utter nonsense.” Wazirx is working to recover and reopen its platform, providing updates and taking legal actions, while assuring users about the security of INR funds. Coindcx CEO Criticizes Wazirx’s Cyberattack Response Sumit Gupta, CEO of the Indian crypto exchange Coindcx, voiced his concerns on social media platform X on Monday regarding the current approach taken by crypto exchange Wazirx, which recently suffered a significant cyberattack…
The Bitcoin network has recently experienced its most significant difficulty adjustment since October 2022, with a 10.5% increase driving the metric to a record 90.67 trillion. This heightened challenge, combined with falling bitcoin prices, is intensifying the strain on miners. Miners Struggle as Bitcoin Difficulty Reaches New Peak On Wednesday, at block height 854,784, Bitcoin’s mining difficulty saw its largest increase of the year and the most substantial since October 2022. The difficulty rose by 10.5%, climbing from 82.05 trillion to 90.67 trillion. This shift signifies a 10% increase in the effort required to find a block compared to the…
With the crypto market currently boasting nearly 15,000 tokens, there has never been a more pressing need for blockchain solutions that can help bridge different assets across different chains. According to recent market research, the global blockchain interoperability market is expected to grow to a cumulative valuation of $3 billion by 2034, thus underscoring the increasing importance of seamless asset transfer and interoperability within this burgeoning arena. In this regard, a number of innovative solutions have been working to address this challenge, including RenVM (Ren Protocol), a decentralized protocol enabling the transfer of cryptocurrencies between different blockchains. RenVM’s key features…