Author: NBTC
On March 13, 2024, Michael Novogratz, CEO of Galaxy Digital, joined CNBC’s “Squawk Box” to delve into the latest Bitcoin rally, examining the factors driving this surge, its implications for the broader cryptocurrency market, and the potential for a spot Ethereum ETF. The Drivers Behind Bitcoin’s Latest Rally Novogratz emphasized that the recent surge in Bitcoin’s price, which saw it surpass the $73,000 mark, is largely an adoption story, propelled by a shift in mindset towards broader acceptance of Bitcoin in the U.S. This acceptance, according to him, is reflected in political developments and an increasing interest from Baby Boomers…
Ethereum (ETH) has recently experienced notable volatility amid market price fluctuations. Despite this uncertain environment, Ethereum aims to maintain its price above the crucial $3,000 support zone. Part of the volatility can be attributed to increased whale activity involving ETH, as significant amounts of the token are being transferred to exchanges. For instance, Whale Alert data on April 20 indicated that 10,911 ETH, valued at approximately $33.52 million, was transferred to Coinbase. Such large movements to major exchanges like Coinbase raise concerns about sustained volatility in Ethereum’s price, especially considering the decentralized finance (DeFi) asset’s susceptibility to overall market bearish…
Ripple CTO David Schwartz has provided insight into the process of burning liquidity provider (LP) tokens in XRP Ledger (XRPL) automated market makers (AMM). Before delving further, it might be essential to understand the role of AMMs and LP tokens. Automated market makers (AMMs) are smart contracts that provide liquidity in XRP Ledger’s decentralized exchange. Those who deposit assets into an AMM are known as liquidity providers (LPs) and receive “LP tokens” from the AMM. An AMM holds two different assets: at most one of these can be XRP and one or both can be tokens. Each AMM allows users…
According to renowned ETF analyst Eric Balchunas, the future of Bitcoin ETFs looks remarkably promising, with all 10 currently existing funds anticipated to maintain their presence on the market over the next year. Balchunas confidently asserted that the resilience of these ETFs is indisputable, backed by data that showcases their robust performance. Even the lowest-performing ETF, WisdomTree’s BTCW, boasts a substantial $74 million in assets under management, securing its position among the top 15% of newly launched ETFs in 2024. The Bloomberg terminal data shared by Balchunas reveals that leading the pack are Grayscale’s GBTC, BlackRock’s IBIT and Fidelity’s FBTC,…
According to the crypto data tracker Whale Alert, an ancient Ethereum wallet that had been inactive for nearly nine years has awakened, stirring intrigue and speculation in the crypto community. Whale Alert reports: “A dormant pre-mine address containing 197 ETH worth $622,685 has just been activated after 8.7 years.” 💤 A dormant pre-mine address containing 197 #ETH (622,685 USD) has just been activated after 8.7 years!https://t.co/qNtUtWgGqK — Whale Alert (@whale_alert) April 21, 2024 This Ethereum holder’s story begins in the early days of Ethereum, during the pre-mine phase before the network’s official launch in 2015. At this point, ETH was…
After a week in which the Bitcoin price recovered after a slight decline but still remains below $70,000, there will be a number of token lock opening events in the new week that can deeply affect altcoins. Here is the altcoin token lock opening calendar that we have prepared specially for you as Bitcoinsistemi.com and which should be followed. (All times are indicated in Turkish time (UTC+3)) Sui (SUI) Market Value: $2.15 billion Amount of Tokens to Unlock: $72.88 million (2.86% of Market Cap) Date: April 8, 2024, 03:00 Ocean Protocol (OCEAN) Market Value: $663.30 million Amount of Tokens to…
I recently converted a Bitcoin seed phrase into a DNA sequence, just because I can. Using only the first four letters of the BIP39 seed words, a 12-word seed phrase can be stored in a mere 48 nucleotides of DNA. (For comparison, the average gene is several thousand nucleotides long, and the complete human genome contains over 3 billion nucleotides). Any genetics graduate student could, in just a few days, turn my seed word sequence into an actual strand of DNA and insert that DNA into E. coli or some other suitable host for storage (and propagation) inside a living…
Cryptocurrency analysis company Layergg has published the list of altcoins to watch next week. Ethena (ENA) Ethena, a new and serious project, has achieved the highest return among major dApps with $8 million in earnings in the last seven days. The project also accepts BTC collateral, significantly increasing its Total Addressable Market (TAM). However, it is said that the project carries risks similar to Terra (LUNA). Ordi (ORDI) According to the analytics firm, ORDI is seen as the primary memecoin broker showing the effects of the BTC Halving cycle. On April 4, Franklin Templeton wrote a report on ORDI. The…
Demand for U.S. Bitcoin spot ETFs smashed another record on Tuesday, exceeding $1 billion of daily net inflows for the first time ever. Outflows from the Grayscale Bitcoin Trust (GBTC) are still consistent, but have slowed to $79 million—down from $494 million a day prior. Meanwhile, BlackRock’s iShares Bitcoin Trust (IBIT) hauled a record $849 million, with smaller rivals like VanEck gathering $82 million. [1/4] Bitcoin ETF Flow – 12 March 2024 All data in. Record day with over $1 billion of net inflow. Blackrock with a record $849 million of inflow pic.twitter.com/dKFmM3Qvaa — BitMEX Research (@BitMEXResearch) March 13, 2024…
Swole Doge (SWOLE) currently has a market cap under $100,000, meaning it has immense upside potential and could turn thousands into millions of dollars if its market cap hits $10 million. Swole Doge (SWOLE) is gearing up for a 3,500% rally in the next 14 days, as this memecoin – which was launched in late 2021 – re-emerges and attracts a new wave of investors who are cashing in their SHIB and DOGE profits. SWOLE has rallied around 200% in the last day, but it has huge further potential to rise, as its current market cap is still under $100,000,…