Author: NBTC
Hong Kong has introduced its Chief Executive’s 2024 Policy Address which not only mentioned a number of virtual assets but also measures towards strengthening its virtual asset models. The official statement read, “The Government will continue to promote innovative financial services such as central bank digital currency, mobile payment, virtual banking, virtual insurance and virtual asset trading. The Treasury Bureau will issue a policy statement to elaborate on the policy stance and approach on the application of artificial intelligence in the financial market.” The HK government will also take up other measures in this direction, one of which includes advancing…
Recent observations of the Coinbase Premium chart highlight an intriguing trend. The 1-hour chart shows that volatility has been decreasing, with the upper and lower bounds converging into a triangular formation. According to CryptoQuant, such a pattern indicates that the price difference of Bitcoin in Coinbase and Binance is about to be constricted. Taken together, this means that the market may be close to the fair value, which creates a strong chance for a large movement in the Bitcoin price. Coinbase Premium’s Convergence Signals“During the 2021-2022 bull market, we observed a similar triangular convergence in the Coinbase Premium during a…
Truth Terminal, the bot trained on Internet lore, is on track to build a $1M portfolio. Just a few tokens breaking out may turn the bot into a crypto millionaire. The wallet grows by the hour, as some of its tokens are rallying from their low launch levels. The known wallets of Truth Terminal, the X bot going as @truth_terminal, contained $850M in tokens as of October 17. The wallets were filled mostly by donations, used to give exposure to newly launched memes. The bot already accrued 72.6K followers and despite its controversial content, seems to be ideally placed to…
Chainlink (LINK), the decentralized oracle network, has witnessed a remarkable price breakout, primarily driven by significant whale accumulation. Over the last six weeks, whale investors have added over 8.5 million LINK tokens to their holdings, leading to a renewed bullish sentiment within the market. This surge coincides with increased on-chain activity, making Chainlink a focal point for investors seeking long-term growth. As the 14th-ranked cryptocurrency by market capitalization, Chainlink has seen its price rise by 8.8% relative to Bitcoin in recent days. Whale Accumulation Signals Bullish Outlook Chainlink’s recent price movement can be traced back to whale accumulation. On-chain data…
The Nigerian government received nearly $100,000 from two cryptocurrency firms accused of conducting unlicensed conversions of tether (USDT) to naira and vice versa. The two Nigerian cryptocurrency firms, Paparaxy Global Ventures Limited and Lemskin Technologies Limited were accused of operating without a banking license. Plea Agreement The Nigerian Federal Government recently received nearly $100,000 (NGN160 million) from two cryptocurrency firms accused of illegally converting tether (USDT) to naira and vice versa. According to Nigerian authorities, the two firms, Paparaxy Global Ventures Limited and Lemskin Technologies Limited violated the law by offering their services without a valid banking license. According to…
Positive sentiment toward Bitcoin is noticeably increasing on social media, which is a first for the cryptocurrency; positive comments have more than doubled negative ones for the first time in more than a year. This optimism, also known as FOMO (fear of missing out), is indicative of a sharp change in the public’s perception of the top cryptocurrency. But there are also some worries brought up by this surge in enthusiasm. Such peaks in optimism have historically corresponded with market peaks. Since many market participants are motivated more by emotion than by fundamentals, when traders exhibit excessive optimism, a market…
In the lead-up to the November 2024 U.S. presidential election, Republican nominee Donald Trump’s crypto holdings have seen an impressive surge in worth. According to Arkham, a crypto intelligence platform, Trump’s crypto assets have increased by $6.1 million since the beginning of the year. Donald Trump is up $6.1M USD on his crypto holdings since the start of this year. Over 65% of his current holdings are MEMECOINS. pic.twitter.com/ssJJqgY2sV — Arkham (@ArkhamIntel) October 17, 2024 His portfolio, currently valued at $7.71 million, shows a shift in his financial interests at a time when he even launched his own project, especially…
Something unusual is happening with Shiba Inu (SHIB) as multiple metrics are skyrocketing today. Beginning with the burn rate, data from Shibburn shows that this metric has jumped by over 640% in 24 hours to 5,555,360 SHIB. This uptick is evidence of bullish activity within the Shiba Inu ecosystem. Shiba Inu price and potential catalyst As mild as the total SHIB burnt is, the token has seen a more ambitious price rally. As of press time, it is outpacing the top 20 coins in price after soaring by 13% in 24 hours. With this growth rate, SHIB’s price jumped to…
Lawyers say that FTX engineering director Nishad Singh’s early cooperation was critical to bringing cases against the exchange’s founder and former CEO Sam Bankman-Fried and former division exec Ryan Salame. Singh pled guilty to six criminal charges in February 2023. Lawyers representing former FTX Director of Engineering Nishad Singh have asked a federal judge to spare him prison in a sentencing submission document filed with the U.S. Southern District of New York on Oct. 16. The filing describes Singh as an “uncommonly selfless individual” and includes more than 100 letters from family, friends and former colleagues. “His role was far…
Data shared on X indicates that the very first prediction of Bitcoin theoretically reaching $10 million per coin in the future was made by a person who was close to Satoshi Nakamoto. The author of the post pointed out that all the complaints about Bitcoin being predicted to reach $1 million pale in comparison to that earlier ultra-bullish forecast. Here’s first person who said Bitcoin could reach $10 million According to user @Vivek4real_ X, the very first prediction about Bitcoin possibly skyrocketing to $10 million per coin in the future was by none other but Hal Finney – the recipient…