Author: NBTC

As Ethereum (ETH) battles price fluctuations and struggles to maintain the $2,000 support, significant development has occurred in the ecosystem. Notably, Ethereum bulls are digging in and trading the coin, as open interest witnessed a 2.61% surge in the last 24 hours. Ethereum open interest hits 10.84 million ETH According to CoinGlass data, Ethereum futures traders have committed 10.84 million ETH in open interest. This is worth approximately $22.03 billion at the current market rate, signaling renewed confidence among coin holders. For perspective, Bitcoin’s leading digital asset has recorded a decline in open interest within the same time frame. Bitcoin’s…

Spot Bitcoin exchange-traded funds in the United States reverted to outflows on Feb. 6 as Bitcoin continued trading below the crucial $100K level, needed for its next leg higher. According to data from SoSoValue, the 12 spot Bitcoin ETFs recorded $140.3 million in outflows on Thursday, breaking a two-day streak of inflows that had totaled $407 million. Fidelity’s FBTC led the outflows with $103.25 million in redemptions, followed by Grayscale’s GBTC, which saw $42.21 million withdrawn. Meanwhile, Bitwise’s BITB was the only ETF to record inflows, attracting $5.15 million from investors. Other spot Bitcoin funds, including BlackRock’s IBIT, saw no…

The amount of Shiba Inu (SHIB) in circulation has fallen again following a recent token burn event. Notably, more than 15 million SHIB tokens were wiped out. This coincides with a 6.4% decline in the price of the second-largest meme coin. Shiba Inu burn surges over 470% According to the Shibburn tracker, the Shiba Inu community has permanently helped the protocol destroy 15,104,251 SHIB tokens. As a result, Shiba Inu’s burn rate has skyrocketed by over 470% in the last 24 hours. Per the details, almost all the 15,104,251 tokens were burned in a single transaction. The wallet address “0x541…f3ce”…

Crypto regulation has come a long way. No longer is it a pass-off game between various government bodies: Digital assets now have dedicated overseers in a lot of regions. One of the pioneers in the space is Dubai’s crypto regulator, the Virtual Assets Regulatory Authority (VARA). What sets VARA apart is its ability to effectively communicate guidelines and regulation to crypto firms, according to its senior official. “Set and forget does not work for crypto, it’s all about feedback and open channels,” said Sean McHugh, senior director of market assurance at VARA. “Since we are exclusively focused on crypto, it…

Crypto analyst Ben Gray has asserted that the Ethereum price is bullish and revealed the price range that the leading altcoin is targeting. However, ETH is set to face major resistance at $2,100, a level which it needs to break out from as it targets new highs. Ethereum Price Faces Major Resistance At $2,100 In a TradingView post, Ben Gray revealed that the Ethereum price is facing a key resistance level at $2,160 even as it eyes a rally to new highs. Despite this development, the analyst asserted that ETH’s market is bullish. While noting that the leading altcoin is…

The crypto and NFT gaming space is busier than ever lately, what with prominent games starting to release, token airdrops piling up, and a seemingly constant array of other things happening at all times. It’s a lot to take in! Luckily, Decrypt’s GG is all over it. And if you need a quick way to get caught up on the latest moves around crypto video games, we’re happy to present This Week in Crypto Games. Our weekend roundup serves up the biggest news from the past week, along with a few other tidbits you might have missed. We also showcase…

Bitcoin’s price has remained below the $100,000 mark since the start of February. Currently trading at $96,920, the leading cryptocurrency has noted a 7% drop in value over the past week. However, recent macroeconomic developments suggest that this trend may soon reverse. Fed’s RRP Drop Could Push Bitcoin Prices to New Heights The Federal Reserve’s Reverse Repurchase Agreement (RRP) or Reverse Repo facility has hit its lowest level in 1,387 days, signaling a potential shift in liquidity flow direction. Federal Reserve’s Reverse Repurchase Agreement (RRP) Facility. Source: Fred Economic Data The US Federal Reserve uses the RRP to manage short-term…

BlackRock’s Global Allocation Fund has increased its holdings in the iShares Bitcoin Trust (IBIT) by 91% to 821,664 shares valued at around $47 million as of January 31, according to a Thursday SEC filing. The globally diversified investment strategy, designed to maximize total return while managing risk, added 390,894 IBIT units to its portfolio between November 2024 and January 2025. The fund has steadily expanded its IBIT holdings from 43,000 shares in April 2024 to 198,874 shares in July 2024. Apart from the Global Allocation Fund, BlackRock previously disclosed holding $78 million in IBIT shares across two investment funds—the Strategic…

Flare co-founder Hugo Philion has revealed the impending yield maturity of $134 billion in XRP on the network’s FXRP and native XRP staking program. This marks the protocol’s first yield since the Flare Open Beta launched last December, with FXRP debuting on Songbird. https://twitter.com/HugoPhilion/status/1887757434514530622 Philion’s announcement sparked mixed reactions among Flare community members posting on X. Some critics questioned the plans, citing concerns over crypto custody liabilities and potential risks. They now await confirmation of the CEO’s promise. Related:Bug in Flare Network Leaves Unclaimed User Rewards Unclaimable Meanwhile, the project’s optimists expressed excitement over the yield reward announcement, highlighting their…

IOTA Foundation’s Feedback on Kenya’s VASPs Bill TL;DR:The IOTA Foundation provides feedback on Kenya’s Virtual Asset Service Providers Bill, 2024, recommending clearer definitions, stronger consumer protections, and alignment with international standards and best practices. Key proposals include refining token classifications, improving cybersecurity rules, and ensuring fair regulatory processes to foster innovation, security, and trust in Kenya’s digital asset ecosystem. The IOTA Foundation has provided detailed comments on Kenya’s proposed Virtual Asset Service Providers Bill, 2024, recognizing it as a key step toward a clear and forward-thinking regulatory framework for the country’s digital asset ecosystem. By refining definitions and aligning the…