Author: NBTC
Ethereum consolidates above 200-day EMA at $2,457 while forming bullish reversal pattern. Rounding-bottom formation spans February to May with neckline at $2,712 resistance. Open interest rises 2.52% to $34.65 billion despite RSI showing weakening momentum. Ethereum is developing a bullish cup-and-handle pattern on its daily chart while maintaining support above the 200-day exponential moving average at $2,457. Currently trading around $2,509, ETH continues consolidating within a defined range as traders watch for potential breakout signals above key resistance levels. The cup formation has taken shape between February and May, creating a rounding-bottom reversal pattern with the neckline positioned at the…
U.S. stocks ended mixed Wednesday after a weak private payrolls report and a cautious economic outlook from the Fed’s Beige Book fueled concerns about growth, inflation, and tariffs. The Dow Jones Industrial Average snapped a four day winning steak, closing lower by 91.90 points, or 0.22%. The S&P 500 was nearly flat, while the Nasdaq Composite gained 0.32% to end at 19,460.49. Wednesday’s stock trading session sentiment was hit by a weaker-than-expected ADP employment report, which showed private payrolls rose by only 37,000 in May, notably below estimates. The reading comes ahead of Friday’s nonfarm payrolls data and may force…
The United Kingdom political party Reform UK wants to make cryptocurrency one of its priorities to attract young voters. Party chairman Zia Yusuf disclosed this in a recent op-ed, noting that the party intends to make the UK a crypto powerhouse. The move comes amid the largely positive momentum for the crypto industry over the past year due to President Donald Trump’s support for the sector. Trump, who embraced crypto in the lead-up to his election as president, saw massive support from the industry, which contributed to his victory, and Reform is now trying to replicate that in the UK.…
Morph, the L2 incubated by Bitget, aimed to be a contender in the modular blockchain space. However, it hit a series of road bumps, as Blockworks previously reported, and is now facing another shakeup: the departure of a CEO. CEO Cecilia Hsueh told Blockworks she’s moving into an advisor role at the layer-2 incubated by Bitget. Hsueh has yet to publicly announce her departure from the blockchain startup, but said she privately told the leadership at the startup behind Bitget’s L2 that she planned to step down in March of this year. “I talked to Dragonfly the first day I…
Crypto pundit Crypto GEM has provided an ultra-bullish outlook for the Ethereum price, predicting that it could reach a new all-time high (ATH) this market cycle. Based on his prediction, ETH could record a 3x gain as it makes this parabolic run. Ethereum Price To Rally To $8,000 In an X post, Crypto GEM declared that the Ethereum price will go parabolic this cycle, predicting that it can reach as high as $8,000. His accompanying chart showed that ETH can reach this target by July 2026. Crypto analyst Mikybull Crypto has also stated that his targets for ETH in this…
Brazil’s Central Bank plans to treat transaction data from its central bank digital currency (CBDC) infrastructure, called Drex, as a direct input for setting the country’s interest rate benchmark. Central bank executive Henrique Videira said on June 4 at the Token Nation conference in São Paulo that every payment and asset transfer recorded on Drex’s distributed ledger will generate a time-stamped, structured entry. By aggregating those entries at the group level, the monetary authority expects to measure consumption shifts, liquidity pockets, and sector performance in near real time. Staff economists would feed the metrics into existing output gap and credit…
The federal judge overseeing Roman Storm’s prosecution declined to order the Department of Justice to review its records for any materials it might have missed that would help the Tornado Cash developer at the end of a 30-minute hearing Friday morning, though she told the government it should not have any disclosure issues. Judge Katherine Polk Failla also ruled that there were no Brady violation concerns with the Department of Justice’s conversations with the Financial Crimes Enforcement Network (FinCEN) about whether mixers needed to register as money transmitters — the conversation that prosecutors pursuing Samourai Wallet developers had with FinCEN…
FTX Token recently slipped amid news of $5 billion distributions But what does FTX distributions mean for potential FTT price movement? Broader market sentiment may also dictate price direction for the FTX token. The FTX Token (FTT), the native cryptocurrency of the now-defunct crypto exchange FTX, is up 2.8% in the last 24 hours to trade above $1.24. While not huge, the gains continue FTT token’s uptick from lows of $1.12 hit earlier in the week. This comes as the FTX holder community eyes fresh momentum amid the impending $5 billion second phase of bankruptcy distributions. But what does this…
The total hashrate of the 13 U.S.-listed bitcoin BTC$107,661.84 miners tracked by JPMorgan (JPM) now accounts for around 31.5% of the global network, the highest level on record, the bank said in a research report on Monday.These miners added 11 exahashes per second (EH/s) of capacity since April, led by CleanSpark (CLSK), Hive Technologies (HIVE) and Riot Platforms (RIOT), the report said. The hashrate refers to the total combined computational power used to mine and process transactions on a proof-of-work blockchain, and is a proxy for competition in the industry and mining difficulty. The miners’ aggregate hashrate has risen 99%…
Consensys, the Ethereum infrastructure company behind the popular MetaMask wallet, said it has acquired Web3Auth, a provider of wallet infrastructure, in a move aimed at improving usability and developer accessibility across its platforms. Financial terms of the deal were not disclosed. The acquisition is designed to modernize MetaMask’s onboarding experience and tackle one of the most persistent challenges facing self-custodial crypto wallets: seed phrase management. According to Consensys, internal data indicates that 35% of MetaMask users fail to back up their seed phrases — a key vulnerability that can result in permanent loss of funds. Web3Auth’s technology, already integrated across…