Author: NBTC
Investors in Bitcoin and cryptocurrencies are focused on the interest rate decision that the FED will announce tomorrow. While the FED is expected to start the interest rate reduction cycle by making its first interest rate cut, uncertainty continues about the size of the reduction. While analysts expect an increase following the FED’s interest rate decision, an updated assessment came from crypto analysis company Matrixport. Analysts, who stated that September has historically been a bearish month for BTC, said that the declines experienced by Bitcoin in September could pave the way for the rise in the 4th quarter. Analysts stated…
The crypto market is gearing up for one of its biggest token unlock events in 2024, with over $3 billion worth of tokens set to be released in October. BeInCrypto has highlighted the top three unlocks that will introduce a substantial influx of assets into the market. October Token Unlocks: What to Expect Data from TokenUnlocks indicates that approximately $1.6 billion of this month’s token unlocks are classified as cliff unlocks. In the context of token unlock events, cliff refers to tokens set to release on a schedule that’s more periodic than daily, such as weekly, monthly, or yearly. Cliff…
The KuCoin exchange has announced the listing of Puffer (PUFFER), a new project aimed at improving Ethereum’s scalability and security. According to the announcement, The PUFFER token will be available on KuCoin’s spot market starting today at 12:00 PM UTC, paired with USDT. KuCoin is currently accepting deposits of PUFFER tokens via the Ethereum ERC20 network. Trading starts today, but withdrawals for PUFFER tokens will be available on Tuesday, October 15, 24 hours after trading begins. Puffer’s Ecosystem: A Trio of Products for Ethereum The Puffer ecosystem has three main products: Puffer LRT: A liquid restaking protocol that allows anyone…
Industry leaders and Grok AI, an artificial intelligence chatbot developed by xAI, have analyzed the price trajectory of Bitcoin toward reaching $1 million. The analysis considers historical price trends, market sentiment, and macroeconomic factors. Notably, Bitcoin, currently priced at $58,527, would need to surge by 1,609% to hit the $1 million mark, resulting in a market capitalization of $19 trillion. When $1 Million? Historical data reveals that Bitcoin often experiences price surges following its halving events, which occur roughly every four years. These events reduce the rate of new Bitcoin supply, typically resulting in a price increase 12-18 months later.…
Today, enjoy the Forward Guidance newsletter on Blockworks.co. Tomorrow, get the news delivered directly to your inbox. Subscribe to the Forward Guidance newsletter. The state of crypto ETFs: Permissionless edition We’ve already noted there has been plenty of regulatory talk at Permissionless. ETFs were also a major point of discussion following the milestone launches of US spot bitcoin and ether funds in January and July, respectively. The bitcoin ETF chatter focused, in part, on the buyers driving the so-far $18.6 billion of net flows into the segment. “The industry had an expectation that was summed up by: ‘Here come the…
A significant transaction involving LayerZero (ZRO) tokens has emerged from the cryptocurrency market, capturing the attention of industry insiders. On September 29, GSR, a key player in the crypto space, transferred 310,000 ZRO tokens to the major exchange platform, Binance. This transaction is valued at approximately $1.54 million. After this move, GSR still holds a substantial amount of 5.446 million ZRO tokens, which is worth around $27.07 million. Contents hide 1 Why is GSR Moving ZRO Tokens? 2 Are Market Makers Planning Further Moves? Why is GSR Moving ZRO Tokens? TheDataNerd unearthed on-chain data revealing the noteworthy ZRO holdings of…
Decentralized crypto exchange Curve Finance and the TON Foundation have announced a joint hackathon aimed at developing a new Stable Swap project on the TON blockchain. The initiative, which runs until October 17, will bring together teams of developers interested in improving stablecoin trading and user experience on the network, according to a press release dated October 11. During the hackathon, participants will use Curve’s solution, designed to optimize exchange processes and simplify the exchange of yield tokens. Curve Finance also noted that at least 70 teams from the TON community have already expressed interest in participating, although no specific…
Maelstrom, the family office of Arthur Hayes, has awarded the first grant from its Bitcoin developer program to contributor Rkrux. The funding will support Rkrux working full-time on Bitcoin Core. Bitcoin relies on voluntary developers to maintain its codebase as an open-source project. Maelstrom recently launched a grant program to encourage more full-time work on improving and contributing to Bitcoin’s core infrastructure. The first recipient is Rkrux, an emerging Bitcoin Core reviewer who completed Chaincode Labs’ FOSS program this year. The grant will enable Rkrux to quit his job and focus entirely on Bitcoin development. “One of the goals of…
The Federal Reserve has been chasing the 2% inflation target for years. Now, with new inflation data from September, it looks like they’re getting close. The consumer and producer price indexes came in where the Fed expected, showing that inflation is dropping toward the Fed’s goal. According to Goldman Sachs, they may already be there. The investment bank projects that the Commerce Department’s Personal Consumption Expenditures (PCE) price index for September will show a 12-month inflation rate of 2.04%. If that’s the case, it would get rounded down to 2%, which would finally put the Fed at its long-term target.…
Axie Infinity integrates Chainlink Data Streams, enhancing dApps with real-time, verifiable AXS market data and decentralized execution. Axie Infinity reduces Fortune Slips cooldown to 24 hours, improving player earnings, and upgrades Bounty Board for better tracking. In a tweet, Axie Infinity announced a significant advancement in developing decentralized apps (dApps) by integrating Chainlink Data Streams, which provide low-latency distribution of off-chain AXS market data that can be confirmed on-chain. This interface is intended to offer dApps real-time, high-frequency market data, enabling efficient access to critical information. As a result, this action greatly decreases slippage, lowers fees, speeds up settlement, and…