Author: NBTC
As October, or as it is colloquially known in the crypto market, “Uptober,” has finally arrived, the eyes of its participants are on the charts of their favorite cryptocurrencies. However, despite everything being frontrunned and priced in, it is still necessary to take a look behind the scenes, in other words, into the on-chain data, to see how things are actually progressing. In particular, it is always worth monitoring the actions of the largest players on the crypto market, or as they are called here, whales. One such metric that can help understand the current speculation is Large Transaction Volume…
Mythos is transforming the Polkadot network, boasting over 3.6 million accounts. As Mythical Games integrates its popular titles and NFT collections, the gaming landscape is poised for change. With strategic migrations and a focus on player-owned economies, Mythos aims to redefine player interactions with digital assets.—“In July, we migrated Mythical Market to Polkadot, and we are currently in the process of migrating both the Blankos collection to Mythical Market and D-Market to Polkadot. This transition amounts to more than 5 million wallets being migrated to the network,” shared Kasper Joergensen, CFO of Mythical Games, in a recent story with Investing.com.Mythical…
Bitcoin, the largest cryptocurrency by market capitalization, extended its rise since the week’s start, surpassing the $63,000 mark. Bitcoin reached highs of $63,526 in Thursday’s session and is set to mark its third consecutive day of gains since September. In his usual character, Michael Saylor, the chairman and cofounder of MicroStrategy, reacted to Bitcoin’s bullish upswing. In a recent tweet, Saylor made a playful yet impactful statement: “Have a Bitcoin Burger.” Have a #Bitcoin Burger. pic.twitter.com/ng4WGsdC14 — Michael Saylor⚡️ (@saylor) September 19, 2024 This tweet, while lighthearted, underscores Saylor’s unwavering support for Bitcoin. Under Saylor’s leadership, MicroStrategy has become one…
Ethereum’s (ETH) price dipped below its 20-day exponential moving average (EMA) and 50-day simple moving average (SMA) on October 1. Since then, it has struggled to break back above these levels, which have become resistance points. The failure to overcome these resistance levels suggests a potential hesitation among buyers to enter the market at higher prices. Ethereum Struggles Below Resistance Ethereum is currently trading at $2,398, slightly below its 20-day Exponential Moving Average (EMA) of $2,462 and its 50-day Simple Moving Average (SMA) of $2,483. The 20-day EMA reflects the average closing price over the last 20 days, while the…
According to tracking data provided by Lookonchain, Chinese cryptocurrency firm Fenbushi Capital has sold $5.14 million worth of altcoins in the past three hours, shedding significant holdings across multiple tokens. Chinese Company Suffers Significant Loss in Altcoins Among the items sold are: 136,094 EIGEN (approximately $514,000) 146,537 UNI (approximately $1.13 million) 10.17 million SNT (approximately $244,000) 10,681 COMP (approximately $509,000) 11,616 AAVE (approximately $1.9 million) 344,086 SUSHI (approximately $276,000) 219 ETH (about $576,000) In addition to the volume of assets sold, Fenbushi Capital reportedly suffered significant losses on several major tokens. The firm lost $2.44 million (-90%) on SUSHI, $2.27…
Independent presidential candidate Robert F. Kennedy Jr.—who suspended his campaign to back Republican Donald Trump, but remains on the ballot in some states—is defending the Bitcoin mining industry from its chorus of media critics concerned about the industry’s impact on the environment. In a letter to The Economist, Kennedy took issue with the publication’s characterization of the environmental impact of Bitcoin mining, writing that an energy system inclusive of miners is “far less carbon-intensive than a system with less renewable generation and ‘peaker’ plants.” “You perpetuated common myths about Bitcoin mining while neglecting the real story: Bitcoin mining is a…
Spot ether ETFs have failed to attract the same kind of demand as spot bitcoin ETFs. But that was a tall order, considering how immensely popular the bitcoin products have been. Headwinds include the lack of staking yield in the ETFs and a difficulty in marketing Ethereum to investors. For many investors, the performance of spot ether (ETH) exchange-traded funds (ETFs) has been disappointing. Whereas spot bitcoin (BTC) ETFs processed almost $19 billion in inflows in the course of 10 months, ether ETFs, which began trading in July, have failed to produce the same kind of interest. Even worse, Grayscale’s…
Crypto assets from collapsed projects like FTX and Terraform Labs—FTT, USTC, LUNA, and LUNC— are defying expectations with explosive price gains. This “zombie token army” is on the march, with FTX’s token, FTT, leading the charge, surging by 13% today to trade at $2.41. FTT Retests Yearly High Looking at its price action over the last seven days, FTT has nearly doubled in value, climbing from a low of $1.36 to a high of $2.7205. This is one of the highest prices the FTX token has reached this year. FTT’s rally was fueled by social media rumors suggesting that the…
Littio, a Colombian neobank, is enabling customers to access U.S. Treasury bills through crypto products. Littio is switching vault holdings from Ethereum (ETH) to Avalanche (AVAX) to scale the products. Launched in February, the vaults have already garnered $80 million in trading volume. It’s getting easier for Latin Americans to gain exposure to U.S. Treasury bills. Colombian neobank Littio is switching blockchain networks – from Ethereum (ETH) to Avalanche (AVAX) – for products, called Yield Pots, that allow users to earn interest on their U.S. dollar deposits. Why the change? Growing demand for Yield Pots is forcing the operation to…
Real Vision analyst Jamie Coutts believes that Bitcoin (BTC) and other digital assets may be about to break out of a bearish phase as the flagship crypto reclaims the $63,000 level. Coutts says that increasing global liquidity and a healthy crypto ecosystem suggest that the market correction may be reaching an end before the start of a year-long bull run. “I accept this may be premature given the state of the world geopolitically and the fact that technicals (price action) are still bearish. However, I suspect we are in the final throes of the big flush of the past months,…