Author: NBTC
In a clear indication of growing institutional interest in decentralized finance (DeFi) tokens, Galaxy Digital made significant withdrawals from cryptocurrency exchanges today. Blockchain analytics show the company removed a total of 1.07 million UNI, worth approximately $18.9 million, alongside 27,722 AAVE, valued at $10.19 million, from exchange wallets. The transactions suggest a strategic accumulation of DeFi assets, reinforcing Ethereum’s role as a major hub for decentralized finance. Whales/Institutions are accumulating #Defi tokens on #Ethereum!#GalaxyDigital withdrew 1.07M $UNI($18.9M) and 27,722 $AAVE($10.19M) from exchanges today.https://t.co/lD8tgkC4Py pic.twitter.com/xX8yZNIfao — Lookonchain (@lookonchain) December 13, 2024 According to Lookonchain, The withdrawal activity, spanning major exchanges such…
The divergence between Ethereum’s price and RSI signals weakening momentum, hinting at a possible market correction. The Awesome Oscillator points to declining momentum, reflecting reduced buying pressure for Ethereum. The $4,000 psychological resistance level poses a challenge to Ethereum’s continued price growth. Ethereum (ETH), one of the most prominent cryptocurrencies, maybe on the brink of a notable price correction. Market gurus have based their predictions of a downfall on technical factors such as the indicators and psych and the barriers. The signal generated by the joint trends of these factors reflects a guarded outlook for trading and investing.” Divergence Between…
At the 4pm close of trading in New York, MicroStrategy will hear the determination of its highly anticipated bid to join the prestigious NASDAQ 100 index. The well-publicized event has already attracted bids from investors who view MicroStrategy as highly qualified for approval. After the NASDAQ committee’s announcement, there are a variety of other catalysts on the horizon for MicroStrategy, including year-end tax loss harvesting, the presidential inauguration, and quarterly earnings announcements. However, in addition to these, there’s also an idiosyncratic catalyst on its near-term calendar: a bitcoin (BTC)-specific, Financial Accounting Standards Board (FASB) rule change. The FASB establishes generally…
Trump-themed meme coins surged as the odds of the former U.S. president winning the 2024 election increased on prediction markets. MAGA Hat (MAGA), a prominent Trump-inspired token, saw its price increase by 23.8%, bringing its market valuation to $68.7 million. Similarly, Super Trump (STRUMP) climbed by 31.9%, reaching $0.0084 per token, while Doland Tremp (TREMP) rose by 20.4%, with a market cap now at $36.1 million. The upward momentum was not limited to these coins alone, as Dark MAGA (DMAGA), a token representing a more authoritarian, dystopian version of Trump often depicted with “laser eyes,” surged by 28%, with a…
IQ, a well-known DeFi entity, has announced the launch of Agent Tokenization Platform. As per IQ, the Agent Tokenization Platform permits the consumers to develop tokenized agents to operate autonomously. The company disclosed this development on social media. 1/ Today, IQ is unveiling its Agent Tokenization Platform (ATP) – a groundbreaking innovation combining AI & blockchain to simplify DeFi and empower users to create & manage intelligent, autonomous agents. Here’s why it’s a game-changer. 👇https://t.co/keDuR9EEhk pic.twitter.com/gSe0TAFMAa — IQ AI (@IQWIKI) December 13, 2024 IQ Releases the New Agent Tokenization Platform Including Autonomous Agents for On-Chain Activities IQ mentioned that the…
Ethereum could be on the verge of a major breakout and surpass $5,000 as soon as early 2025, according to one analyst. Following a strong market recovery, Ethereum has outperformed many other cryptocurrencies, gaining 6% in the past day, according to CoinGecko. “The gears and bolts are in place,” Iliya Kalchev, an analyst at Nexo, said in an interview. “Ethereum could skyrocket beyond $5,000 by early 2025.” Ethereum is up 79% since Donald Trump’s election victory last month, but it still lags behind its all-time high of $4,800 set in 2021. Comparatively, Bitcoin is up 62% over the same period,…
This is a segment from the Forward Guidance newsletter. To read full editions, subscribe. MicroStrategy could later this month join the Nasdaq 100, which includes many of the largest non-financial, Nasdaq-listed companies. A Nasdaq spokesperson told me changes to the index would be announced tonight at 8 pm ET. Adjustments would go into effect on Dec. 23. MicroStrategy’s market capitalization stands around $95 billion and appears to meet the requirements for inclusion, analysts say. But the Nasdaq committee’s decision could depend on MSTR’s ICB classification, Bloomberg Intelligence analyst James Seyffart mentioned in a recent research note. Much of the company’s…
Cryptocurrency analytics firm Alphractal has revealed a significant shift in Bitcoin address activity. While the number of addresses holding more than 100 BTC has increased rapidly, there has been a significant decrease in addresses holding more than 10,000 BTC. In its latest report, Alphractal analyzed the dynamics of Bitcoin addresses to identify potential trends and market behavior. The firm noted that addresses holding more than 100 BTC are often linked to institutional users, miners, and other high-net-worth individuals, commonly referred to as “sharks.” In contrast, the largest Bitcoin addresses, those holding more than 10,000 BTC, are typically controlled by exchanges,…
The NFT market sales have surged amid mixed cryptocurrency price action, with Bitcoin reclaiming the $100,000 level while Ethereum retreated from last week’s $4,000 mark. The global cryptocurrency market capitalization has slightly contracted to $3.63 trillion from last week’s $3.67 trillion as per CoinMarketCap data. According to the latest data from CryptoSlam, the NFT market has surged 16.36%, with total sales volume reaching $224.5 million. However, the data shows that the number of unique buyers has decreased by 73.97% to 180,641. You might also like: Spot Ethereum ETFs break a key record: can ETH price hit $5k? Ethereum network sees…
Ethereum’s TVL reached $77.15 billion, driven by a $7.79 billion surge in one week. Exchange inflow volumes hit their lowest in a month, signaling reduced selling pressure. Ethereum’s breakout from a descending triangle pattern indicates strong bullish momentum. Ethereum’s Total Value Locked (TVL) has reached a record-breaking $77.15 billion, marking an increase of $7.79 billion within a week. This growth underscores Ethereum’s dominance among blockchain platforms, driven by a rising price and increased ecosystem activity. Ethereum TVL Hits All-Time HighEthereum’s Total Value Locked (TVL) has reached a record-breaking high, driven by the recent surge in Ethereum’s price. The top five…