Author: NBTC

Ethereum, the second-largest cryptocurrency by market cap, is under significant pressure as hedge funds ramp up their bearish bets. Despite the broader crypto market showing signs of recovery, Ethereum has been left trailing. Since November 2024, short positions against Ethereum have surged by 500%, reaching record highs, according to data from The Kobeissi Letter. This aggressive shorting signals growing concerns about Ethereum’s near-term stability. What is happening with Ethereum?Short positioning in Ethereum is now up +40% in ONE WEEK and +500% since November 2024.Never in history have Wall Street hedge funds been so short of Ethereum, and it’s not even…

XRP Ledger (XRPL) is reported to be on the verge of a massive technological upgrade, as multiple amendments have been listed for voting. The team has disclosed that XRPL is nearing 80% of its server upgrade, with older versions expected to be automatically disconnected after completion. The XRP Ledger is expected to commence a comprehensive upgrade as eight key amendments have been lined up for voting. According to the post shared on X, the adoption of the XRPL v2.3.0 would see the 2.2.x and older servers disconnected from the network. Fascinatingly, this comes after an update was implemented to slash…

Ripple CEO Brad Garlinghouse has congratulated American financial manager Brian Quintenz on his nomination for the chair of the Commodity Futures Trading Commission (CFTC). “The CFTC plays a vital role in making sure the US has the most robust capital markets in the world,” Garlinghouse said in his social media statement. The CFTC has long been the preferred regulator of the cryptocurrency industry. Earlier, Garlinghouse spoke favorably of the Financial Innovation and Technology for the 21st Century Act (FIT21). The bill, which passed the House last May, would make the CFTC the main overseer of the nascent industry. Quintenz, the…

Solayer’s native token, LAYER, is set to make its Binance debut on Feb. 11 accompanied by an airdrop event scheduled one hour before trading starts. According to a recent announcement, Binance users who have BNB subscribed to Simple Earn products from Feb. 1 to Feb. 5 stand a chance to gain LAYER token rewards from an airdrop distribution with an allocation of 30 million LAYER tokens or 3% of the total supply. The airdrop is scheduled to take place on Feb. 11, around one hour before trading starts. Solayer’s native token will be officially listed on Binance starting from Feb.…

NodeOps, a leading blockchain node orchestration platform, emerged as one of the top decentralized physical infrastructure networks by revenue in 2024. The DePIN project’s strong performance over the past 12 months saw it rank fourth on the revenue leaderboard. NodeOps shared details of the milestone with crypto.news via a press release on Feb. 12. Analytics data shows Ethereum (ETH)-based crypto project Glow topped the list with over $20 million in revenue, while Akash and Braintrust ranked second and third with over $4 million and $3.3 million, respectively. According to Dune data, NodeOps’ total revenue surpassed $2.5 million. You might also…

Ethereum price failed to continue higher above the $2,880 resistance. ETH is now moving lower and might slip further toward the $2,320 support. Ethereum started a fresh decline below the $2,700 level. The price is trading below $2,700 and the 100-hourly Simple Moving Average. There is a connecting bearish trend line forming with resistance at $2,680 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh decline if it stays below the $2,700 level. Ethereum Price Recovery Fades Ethereum price started a recovery wave above the $2,650 level, like Bitcoin. ETH was able to…

SAFE, the native token of Safe Wallet, surged 20% as Bithumb listed the token on its platform. Safe (SAFE) rose to $1.10 on Jan. 10, marking a 20% surge from its monthly low of $0.924 while bringing its market cap to nearly $600 million at the time of writing. The altcoin’s rally occurred in a high-volume environment. Its daily trading volume surged by 429%, climbing from $15 million early Thursday morning to over $80 million. Despite the recent rally, the altcoin still holds significant growth potential, considering that SAFE’s price remains 69% below its all-time high of $3.56 in April…

WazirX has announced the voting period for its proposed restructuring scheme, allowing Scheme Creditors to decide on the next phase of the recovery process. The voting is expected to take place from March 19 to March 28, 2025, through the Kroll Issuer Services platform, where participants can cast a simple YES or NO vote. The results will be reviewed by Alvarez & Marsal, acting as the Independent Assessor. WazirX Voting Dates & Other Details Zettai Pte Ltd, the entity overseeing WazirX’s restructuring, confirmed the tentative voting dates earlier this week. The outcome will determine whether the Scheme of Arrangement moves…

Cryptocurrency exchange Gemini, which recently selected Malta as its European hub, has received in-principle approval for an Investment Firm licence from the Malta Financial Services Authority (MFSA). A Pan-European Derivatives Licence Once the licence is approved, the exchange can offer regulated options and futures, including contracts for difference (CFD) instruments, throughout the European Economic Area (EEA) under the Markets in Financial Instruments Directive (MiFID II). The official announcement highlighted that Gemini plans to offer perpetual futures contracts, which are futures contracts without an expiry date, throughout the bloc. Furthermore, the crypto exchange pointed out that the MiFID II licence is…

Vanar Blockchain has incorporated Stakefish into its validator ecosystem as a global blockchain staking service provider. The platform now manages over $3 billion in staked assets on different networks because Stakefish brings extensive blockchain transaction security and validation experience. Clear integration moves Vanar toward improving its decentralized platform and strengthening security capabilities and scalability. 🚀 VALIDATOR SERIES CONTINUES 🚀We’re thrilled to announce @stakefish, a global leader in blockchain staking, as the newest member of the Vanar Validator family! 🌐With $3B+ in staked assets, stakefish secures networks like Ethereum, #Solana, Cosmos—and now, Vanar. pic.twitter.com/xhxvaKwT70 — Vanar (@Vanarchain) February 11, 2025 Stakefish…