Author: NBTC
Idiosyncratic factors keep BTC under pressure as gold rallies to record high. Gold’s surge hints at a favorable macroeconomic conditions for bitcoin ahead. Some analysts caution against reading too much into the gold rally. Gold rose to a new record high reaching $2,564 per ounce on Friday, taking its quarter-to-date gain to 10%. Bitcoin (BTC), often touted as digital gold, remained under pressure at nearly $58,000, representing a 7% quarterly loss, according to CoinDesk data. The yellow metal’s performance looks even more impressive, if you consider that Wall Street’s benchmark index (S&P 500) has only eked out a meager 2%…
The decentralized prediction platform Polymarket has surpassed $2 billion in total volume for the upcoming 2024 US presidential election. As of now, Republican candidate Donald Trump holds a commanding 61.3% chance of winning, with over $605 million in volume and $267 million wagered, according to Polymarket’s data. In contrast, Democratic candidate and current Vice President Kamala Harris trails with 38% odds, nearly $405 million in volume, and $159 million bet on her victory. Trump’s rising odds follow a CryptoSlate Insight report, which revealed that large-scale traders, or “whales,” have significantly influenced the market in Trump’s favor over the past day.…
While Solana (SOL) has been experiencing a significant bull run over the past few days, recent activities from whales indicate a potential price crash may be imminent. In the last 24 hours, a Solana whale unstaked 100,000 SOL tokens and transferred the funds to Binance, one of the most liquid crypto exchanges. At the time of the withdrawal, the tokens were valued at approximately $14.9 million. This latest move to liquidate a substantial portion of the whale’s Solana portfolio follows a transaction three days ago when the same investor unstaked 100,000 SOL tokens and moved the assets to Binance. The…
By taking action against Chicago-based trading firm Cumberland DRW, the U.S. Securities and Exchange Commission (SEC) has issued a general warning signal to crypto market participants, especially those with ties to traditional finance, according to regulatory experts. Sean Tuffy: “Cumberland Case Was a General Warning to Crypto Market” The SEC’s lawsuit accuses Cumberland DRW of operating as an unregistered dealer in the cryptocurrency markets, with the regulator citing nearly $2 billion worth of transactions that it claims constitute securities transactions. “I would be surprised if this was the only case the SEC had on its hands, and similar firms should…
Dune Analytics has recently announced a thrilling development by integrating B3 Chain. As per Dune Analytics, this integration denotes an important move in the evolution of blockchain gaming-related data, letting gamers and developers explore, analyze, and track the dynamics of blockchain gaming in a new way. The platform took to its official social media account to offer insights into this endeavor. ⏰ The week is not over yet and we are bringing 1️⃣ more chain onto Dune!Welcome @b3dotfun, the L3 blockchain built on top of @base dedicated to optimizing Web3 gaming, is now LIVE on Dune! 🎮🔥Start exploring B3 data…
Recent market analysis shows that Bitcoin has been trading below its 200-day simple moving average (SMA) for over a month, raising investor concerns. According to data shared by analyst Ali Martinez, Bitcoin’s movement below this level has often signaled a period of bearish momentum, with potential corrections to follow. Currently, the 200-day SMA is around $64,000, a level Bitcoin last approached roughly four weeks ago. Bitcoin’s inability to break back into this level suggests continued resistance in the market. According to Martinez, Bitcoin’s price could be headed toward its Realized Price at approximately $31,500, which is historically a key support…
During a recent appearance on the “Thinking Crypto” podcast, Ripple CEO Brad Garlinghouse stated that an initial public offering (IPO) has not been “a high priority” for Ripple. Ripple has no immediate plans to go public due to its longstanding legal battle with the SEC, stating that the agency is not Ripple’s “friend.” Garlinghouse explained that most companies choose to go public specifically because they want to raise capital. However, Ripple has been “fortunate” to be in a strong financial position. “We have continued to make acquisitions. We’ve continued to invest in lots of different projects around crypto, around XRP.…
In a single block, the Cardano blockchain processed eight transactions for 1,600 recipients with just $2.38 in fees. This demonstration of scalability and affordability was highlighted by Charles Hoskinson, the creator of Cardano, when he reposted an X (formerly Twitter) post originally shared by Dedium, a Cardano-based decentralized GPU computing network. This showcases Cardano’s potential as a leading blockchain platform. #Cardano can transfer assets to 1,600 users within a single block, all for a fee of just 5.16 $ADA. https://t.co/nwtfYzsGJI — Cardano YOD₳ (@JaromirTesar) September 25, 2024 The block that processed the eight transactions reached 80 TPS without using Hydra,…
PlatON Network has recently announced an exclusive collaboration with UXUY for the UXUY Telegram Wallet’s integration into the Telegram ecosystem. As per PlatON, the partnership promises to offer an additional effective and seamless experience for consumers by providing a series of crypto and fiat services via Telegram. The platform took to its official X account to provide the details of this initiative. 🎊Thrilled to announce a news!👏#PlatON has partnered with @uxuycom to integrate the #UXUY Telegram Wallet, offering the Telegram ecosystem comprehensive fiat and crypto services. With @topos_network clearing system, merchants and users can enjoy better exchange rates and lower……
Around 23,000 Bitcoin options contracts are due for expiry on Friday, Sept. 13. These derivatives have a notional value of around $1.34 billion. Today’s options expiry is roughly double the size of last week’s expiry event, so the impact on dampened crypto spot markets may be greater. Bitcoin Options Expiry This week’s batch of Bitcoin options contracts has a put/call ratio of 0.86, which means there are slightly more long (call) contracts expiring than shorts (puts) but they are more closely matched. Open interest, or the value of open contracts yet to expire, is still high at strike prices of…