Author: NBTC
The total crypto market cap declined by 8% in June, the bank said, noting that March 2024 might have been the peak of the current cycle. JPMorgan noted that spot bitcoin ETFs saw their second-worst month since launch, with an estimated $662 million of net outflows. The market cap of the U.S.-listed miners grew almost 20% as the sector re-rated due to AI-related power use cases, the report said. The total cryptocurrency market cap fell by 8% in June to around $2.25 trillion, giving back most of the gains from May, JPMorgan (JPM) said in a research report on Monday.…
Nearly $40 million worth of XRP has been transferred from Binance, one of the world’s leading cryptocurrency exchanges, to an unknown wallet. This substantial transfer has sparked speculation about the motives behind such large transactions, often attributed to whales — individuals or entities holding large quantities of a particular coin. The transaction was first reported by Whale Alert, a service dedicated to tracking large cryptocurrency transactions. Whale Alert’s initial tweet revealed that almost 50.7 million XRP coins, worth around $26.2 million, were transferred from Binance to an unknown wallet. Shortly after, another tweet reported that nearly 26.2 million XRP coins,…
Blockchain technology has come a long way, from its humble beginnings in 2009 to hogging the spotlight in recent years. Although the emerging technology has fallen behind artificial intelligence (AI) in recent years, blockchain use cases in the automobile sector are poised to reach new highs. According to a report by Global Market Insights, the automotive blockchain industry could see a significant increase in market capitalization amid rising adoption metrics and technological advancements. In 2023, the industry is valued at a little over $550 million, but the combination of several factors is expected to grow the market size to $4.1…
The Bitcoin Runes protocol experienced a significant decrease in activity and fee revenue after its initial surge after the Bitcoin halving. Runes takes the Ordinals protocol a step further by making transactions cheaper and faster, but has failed to maintain meaningful traction among users. Despite the initial excitement, the protocol’s momentum has slowed, and its impact on the Bitcoin ecosystem remains to be seen. Activity on the Bitcoin Runes protocol has slowed over the past week, a sign it has failed to generate meaningful traction among users despite a stellar start last month. Runes takes the Ordinals protocol a step…
Ethereum price failed to clear the $3,520 zone and started a fresh decline. ETH dived below the $3,250 support and even tested the $3,150 zone. Ethereum started a fresh decline below the $3,320 and $3,250 levels. The price is trading below $3,250 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance near $3,325 on the hourly chart of ETH/USD (data feed via Kraken). The pair could correct losses, but upsides might be limited above the $3,320 zone. Ethereum Price Takes Hit Ethereum price failed to continue higher above the $3,450 and $3,420 resistance…
The trading firm appointed Julien Auchecorne as head of the new ventures division, who formerly held roles at Brevan Howard, XBTO International. The firm has already invested “close to $20 million” in several projects including Pyth and Berachain over the past quarters, CEO Ben Roth told CoinDesk. Crypto trading firm and market maker Auros said in an exclusive interview with CoinDesk that its newly established venture capital arm plans to invest more than $50 million of its own capital in early-stage digital asset ventures in the next two years. To lead the investment efforts, the company appointed Julien Auchecorne as…
In a recent tweet, Cardano founder Charles Hoskinson addressed concerns over scaling within the ADA community. Hoskinson highlighted that the Cardano treasury has sufficient funds to pursue an aggressive Leios, Hydra and Zero-Knowledge (ZK) scaling program if the community decides to pursue this direction. “For those discussing scaling, there is enough money in the treasury to pursue an aggressive Leios, Hydra, and ZK program if the community wants to go in this direction,” Hoskinson stated. For those discussing scaling, there is enough money in the treasury to pursue an aggressive Leios, Hydra, and ZK program if the community wants to…
Hyperlane, a cross-blockchain interoperability mechanism, has announced a new collaboration. As per the platform, it is partnering with BOB which is the earliest hybrid L2 platform that links BTC security and EVM liquidity while getting support from Coinbase Ventures and Castle Islands. The company revealed the respective development on its official X account. Hyperlane ⏩ @build_on_bobBOB is now connected to the Hyperlane network, enabling fast token bridging, interchain apps, and Permissionless Interop!Modular Expansion. pic.twitter.com/1vnqyZU2mr — Hyperlane ⏩ (@hyperlane) July 5, 2024 Hyperlane and BOB Join Forces in a New Collaboration The firm noted in its recent X post that it…
Market data shows Fidelity’s Wise Origin Bitcoin Fund (FBTC) registered the largest inflow on May 13, with the broader exchange-traded fund (ETF) market seeing $66 million in positive flow despite multiple products witnessing zero flows for the day. According to Farside Investors, Bitcoin (BTC) ETFs saw a combined net inflow of $66 million after consecutive days of net outflows, with Fidelity’s FBTC recording the largest inflow on May 13. FBTC logged an inflow of $38.6 million, one of the few ETFs not to record zero flows that day. Bitwise Bitcoin ETF (BITB) followed with an inflow of $20.3 million, while…
Ethereum, the leading altcoin, witnessed a 14.83% price decline in the past month. The spot ETH ETFs are expected to begin trading in the coming weeks. The overall crypto market witnessed a 3% dip in market cap in the last 24 hours, constituting two consecutive days of bearish trends. Leading cryptocurrencies have incurred price dips over the past week causing the initiation of a selling pressure in the market. The second largest cryptocurrency, Ethereum has shown declining movements in its market price in the past month. Notably, the token witnessed a 3% price decline in the last 24 hours. However,…