Author: NBTC
BitMEX founder Arthur Hayes published a thought-provoking article discussing the dynamics of historical economic cycles and distinguishing between local inflation cycles and global cycles. Arthur Hayes: Bitcoin Overtakes Gold as Safe-Haven Asset in Local Economic Cycle Hayes argues that the current economic environment is a domestic inflationary cycle in which Bitcoin has emerged as a superior safe-haven asset compared to gold due to its independence from national control. In his analysis, Hayes touches on widespread views within the cryptocurrency community, such as the belief that the crypto bull market is over or that Bitcoin should rise along with large-cap US…
A total of $300 million worth of cryptocurrency was liquidated in the past day, causing a major decline on the market. The prices of important assets like Ethereum have dropped to all-time lows, causing significant harm even though this may not be the biggest liquidation event in history. For instance, Ethereum has dropped significantly from its recent highs, reaching $3,168. Since the recently released Ethereum ETFs have made institutional active selling possible, one of the main causes of this selling pressure is probably these new offerings. For cryptocurrencies, this has led to a difficult environment, especially in light of the…
A Gigachad (GIGA) investor got the Solana meme coin’s contract address tattooed on his chest. But once he posted the proof on Twitter, he discovered that the token address now permanently imprinted on his skin was actually wrong. Pseudonymous Twitter user Hop said he decided that he wanted to get a tattoo dedicated to his favorite meme coin because, he claimed, the token has completely changed his life “mentally, spiritually, and of course financially.” Another GIGA community member got the ticker tattooed, purportedly, when the token was at an $18 million market cap. Now with a market cap over $175…
Qatar is making strides toward establishing a regulatory framework for digital assets, signaling a shift from its previous hardline stance against cryptocurrencies. The wealthy Gulf state banned Bitcoin trading in 2018, but recent developments suggest it’s cautiously reconsidering its approach. Last year, Qatari financial regulators proposed a framework to regulate investment tokens backed by tangible assets. The Qatar Financial Centre Regulatory Authority (QFCRA) and the QFC Authority (QFCA) collaboratively developed this digital assets framework, aiming to bolster Qatar’s digital economy strategy. They sought industry feedback to refine the proposed regulations, with the final legislation expected in Q4 2024. The QFC…
Bitcoin’s recent surge above the key $60,000 mark, driven by substantial buying activity, is signaling a potentially bullish July for the cryptocurrency. On-chain data reveals strong demand, with 237,000 addresses accumulating Bitcoin in the $61,000-$62,600 range, aligning with historical trends of positive July returns. Historically, July has been a favorable month for Bitcoin, averaging a 7.42% return. Investors and traders are now keenly observing whether Bitcoin can maintain this upward momentum. Source Bitcoin News X (formerly Twitter) This price range, bolstered by substantial buying activity, serves as a strong foundation for potential further gains. The influx of buyers at these…
In a major transaction, cryptocurrency whale “arthurgayes.eth” sold 2 trillion $MOG memcoin for $4.41 million to the Bybit and Gate.io exchanges. This sale occurred a few hours ago as the price of $MOG soared, according to SpotOnChain. Early whale “arthurgayes.eth” unloaded the first 2T $MOG ($4.41M) to #Bybit & #Gateio 7hrs ago as the price soared!This whale bought 8.26T $MOG with just 251K $USDC in Sep-Oct 2023;And still holds 6.26T $MOG (~$14M) in 3 wallets, making an est. total profit of $18.1M (x72)!… pic.twitter.com/VhmyBtu5uu — Spot On Chain (@spotonchain) July 20, 2024 ‘arthurgayes.eth’ Still Holds $14M in $MOG After 72x…
The longer the Ripple vs. SEC legal battle continues, the more the crypto space is filled with various speculations, rumors, uncertainties and doubts on this matter. Earlier, it was expected that the case would finally be resolved in July this year – the anniversary of the previous ruling when XRP was recognized as a nonsecurity. This did not happen, and as a result, the sentiment of market participants turned rather negative regarding the imminent end of the whole case. The absence of truthful news on the side of the case leads to the filling of this empty space with rumors,…
Beijing’s escalating censorship of economic information, including pressure on foreign media to withhold data, has raised alarms among analysts. The move coincides with China’s concealment of renewable energy figures, prompting speculation that the nation may be secretly engaging in large-scale Bitcoin mining operations. Further fanning the flames of speculation, CryptoQuant CEO Ki Young Ju pointed out on X (formerly Twitter) that despite China’s official crackdown, Chinese mining pools still maintain a dominant 54% share of the Bitcoin mining market. Despite China’s ban on #Bitcoin mining, Chinese mining pools still hold nearly 54% market share. While not all participants in these…
MantaCeDeFi has announced a new collaboration with Fuel Network, allowing its users to participate in the Fuel Points Program by depositing mETH and mUSD. This partnership is set to unlock more DeFi opportunities for MantaCeDeFi users through their mTokens. 💿🖐️ In collaboration with @fuel_network, #MantaCeDeFi users can now participate in the Fuel Points Program by depositing $mETH and $mUSD.Unlock more DeFi opportunities with your mTokens:https://t.co/atxffFVMO3 pic.twitter.com/ZaiGeSTjKn — Manta Network (🔱,🔱) Meme-ta Szn (@MantaNetwork) July 29, 2024 To earn Fuel Points, MantaCeDeFi users must bridge their mTokens via StargateFinance. Using StargateFinance’s bridge, users can transfer their mTokens from MantaPacific to Ethereum.…
The much-anticipated launch of Ethereum spot ETFs has failed to ignite the market as expected, with Grayscale’s Ethereum Trust ETF bearing the brunt of investor skepticism. Wednesday saw a staggering $133 million net outflow from ETH spot ETFs, with the Grayscale Ethereum Trust (ETHE), which was converted to a spot ETF on Tuesday, hemorrhaging $327 million, according to data from SoSo Value. While the firm’s newly created Grayscale Ethereum Mini Trust (ETH) managed to attract $46 million in inflows, and Fidelity’s FETH drew in $74 million, the overall picture for Ethereum ETFs remains clouded. In contrast, Bitcoin spot ETFs demonstrated…