Author: NBTC

A Bitcoin whale has been accumulating billions of dollars’ worth of Ether, surpassing the second-largest corporate treasury firm, signaling a growing rotation among large investors seeking cryptocurrencies with more upside potential. A Bitcoin whale worth over $11 billion sold another $215 million worth of Bitcoin (BTC) to buy $216 million worth of spot Ether (ETH) on the decentralized exchange Hyperliquid. With the latest acquisition, the whale now holds 886,371 Ether, worth over $4 billion, according to blockchain data platform Lookonchain, in a Monday X post. The growing whale demand for Ether is signaling the market’s “natural rotation” into Ether and…

This is a segment from the Lightspeed newsletter. To read full editions, subscribe. Reflect Money announced today a $3.75 million seed round led by a16z crypto’s CSX accelerator, with participation from Solana Ventures, Equilibrium, BigBrain Holdings and Colosseum. Reflect won Grand Champion in Colosseum’s 2024 Solana Radar hackathon. The new capital will fund a “software-as-a-stablecoin” infrastructure that lets any app issue yield-bearing dollars without lockups or operational complexity, the team told Blockworks. Reflect’s pitch is straightforward: Idle stablecoin balances should be put into productive DeFi yield strategies. “Every idle asset represents dead capital…which should be earning while you sleep, while…

Ethereum price is consolidating near its all-time high, with the monthly candle turning green. Market structure remains bullish as long as $3,900 support holds. Summary Ethereum consolidates near all-time highs, showing strong bullish structure. $3,900 support is the critical level backed by confluence. Upside potential targets $5,000+ on continuation. Ethereum (ETH) continues to trade with strength, maintaining consolidation at elevated levels near its all-time high. The latest monthly close has set the stage for further upside potential, as the chart reflects strong market structure and technical confluence. Investor flows reinforce this outlook, with Ethereum spot ETFs now drawing more capital…

The cryptocurrency world is buzzing with significant news from ConsenSys’s Layer 2 network, Linea. A monumental Linea token distribution is on the horizon, set to inject 1 billion LINEA tokens directly into the heart of the decentralized finance (DeFi) ecosystem. This strategic move marks a pivotal moment for Linea and the wider blockchain community, promising to reshape liquidity and engagement. What is This Linea Token Distribution All About? ConsenSys’s innovative Layer 2 network, Linea, is initiating its ambitious Ignition program. This program is specifically designed to facilitate a massive Linea token distribution, allocating an impressive 1 billion LINEA tokens to…

Ethereum has failed to sustain its bullish momentum, breaking below a key support range and now consolidating around the mid-line of its ascending channel. Both momentum indicators and price structure highlight a neutral yet fragile state, with upcoming sessions likely to determine whether ETH stabilizes or slides into a deeper correction. Ethereum Price: Technical Analysis By Shayan The Daily Chart On the daily timeframe, ETH continues to respect its ascending channel; however, the rejection at the channel’s upper boundary near the all-time high has forced price back into the $4.2K support zone. This area aligns with a daily order block…

The cryptocurrency world is buzzing with an incredible story that reminds us of Bitcoin’s decentralized spirit and the sheer luck involved in mining. A solo Bitcoin miner recently achieved the unthinkable, successfully unearthing a block and claiming a life-changing reward. This rare event has captivated the community, showcasing both the immense potential and the long odds of individual mining. What Just Happened? An Astonishing Solo Bitcoin Miner Feat In a truly remarkable turn of events, a solo Bitcoin miner successfully added a new block to the Bitcoin blockchain at height 912,632. The lucky miner secured 3.1 BTC, valued at approximately…

Ethereum (ETH) closed August on a strong note, gaining more than 23% during the 31-day period. The leading altcoin now appears poised to extend its rally into September, with on-chain data showing a decline in selloffs and a surge in market confidence about its near-term performance. Ethereum Exchange Balances Crash to 2016 Levels According to Glassnode, the total amount of ETH held on exchange addresses has dropped to its lowest level since 2016. As of this writing, 16 million ETH valued at around $70.37 billion are held on exchange wallet addresses. For token TA and market updates: Want more token…

Bitcoin’s hashrate has reached 1 zettahash per second (1 ZH/s) on a seven day moving average for the first time, setting a new all time high, according to Glassnode data. The hashrate is the average estimated number of hashes per second produced by miners securing the network. Using a seven day moving average is important because it smooths out natural block time variability. The network has briefly touched 1 zettahash several times this year, but this is the first time it has been sustained on the seven day moving average. To put this in perspective, 1 zettahash equals 1,000 exa…

The Ethereum Foundation (EF) is announcing a new effort aimed at making the Ethereum ecosystem feel more like a single chain, without compromising its core cypherpunk principles. In a blog post published on Friday, Aug. 29, the foundation outlined a new initiative called the Ethereum Interoperability Layer (EIL), which will be focused on “making Ethereum feel like one chain again,” without compromising on the network’s core values, such as censorship resistance, open source development, privacy and security. “EIL is a trustless cross-L2 interop layer, enabling seamless multichain transactions while keeping the user in control, preserving privacy and Ethereum-level censorship resistance,”…

The Bitcoin network hashrate returned to record highs last month, increasing around 50 exahashes per second (EH/s) to an average of 949 EH/s, Wall Street bank JPMorgan (JPM) said in a research report Tuesday. 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 total market cap of the 13 U.S-listed bitcoin BTC$111,257.92 miners the bank tracks also hit a record high in August, with high-performance computing (HPC) execution driving the gains. TeraWulf (WULF) announced a colocation deal…