Author: NBTC
Ethereum’s price has pushed higher since the low on December 20th, but so far, the rally looks more like a corrective move. Currently, the price action doesn’t seem impulsive enough to confirm a strong upward trend, but this could change as the market develops. There are two main scenarios to consider moving forward. Scenario 1: Corrective Rally (B-Wave Correction) The first scenario involves a broader B-wave correction. The downward movement from December 6th to December 20th is seen as an ABC structure (Wave A), and the current move upwards could be part of Wave B, forming either as an ABC…
Vendors of exchange-traded funds are crafting lucrative deals to appeal to investors and drive them closer to the cryptocurrency craze. With several ETFs lined up for launch in 2025, each firm is trying to put its best foot forward to appear on top of the chain. In submissions made to the US Securities and Exchange Commission towards the end of 2024, very lucrative offers would excite investors. One of the unique proposals was an ETF from ProShares that would denote the S&P 500’s return in Bitcoin. Besides, funds managed by Strive Asset Management and REX Shares will enable convertible bonds…
Chainlink prices have exploded by over 36% to an almost two-year high, topping $26 during late trading on Dec. 2. LINK has more than doubled in price over the past month, climbing from below $11 in early November to today’s peak, which is the highest it has been since January 2022. Most of those gains have come in the past few hours. The asset had cooled a little to trade at just over $24 during the Tuesday morning Asian session, according to Coingecko. Chainlink Partners With 21X The pair announced a partnership between Chainlink and 21X, a Frankfurt-based fintech, to…
According to data from X on-chain data analytics platform, Lookonchain, the total stablecoins inflows on Ethereum and Solana over the past seven days have increased significantly. Lookonchain revealed that Ethereum received about $1.1 billion in inflows, while Solana received about $202 million, mostly from USDC and USDT. Ethereum network’s stablecoin netflows this week increased from last week’s outflows of over $63 million to the current $1.1 billion inflows. However, Solana’s inflows over the past seven days are still over $200 million lower than what it experienced the week before. Lookonchain data revealed that Solana recorded over $424 million in USDC…
As of Nov. 25, 2024, the price of bitcoin (BTC) has traded between $97,076 and $97,547 within the past hour, displaying a strong bullish trajectory across multiple timeframes. Technical indicators suggest a mixture of neutral momentum and buy signals, highlighting the potential for further growth while signaling areas of caution. Bitcoin Bitcoin‘s 1-hour chart reflects a recovery from a local low near $95,796, followed by a steady climb. However, momentum appears to be waning as the price approaches $98,966, a key resistance level. Trading volume, which spiked during sharp moves, has diminished near the highs, hinting at either resistance or…
Ethereum price has risen for three consecutive weeks, helped by the ongoing recovery of cryptocurrencies. ETH, the second-biggest cryptocurrency, rose to $3,670 on Tuesday, as technicals and fundamentals pointed to more gains in the current quarter. So, how high can ETH get this year? Polymarket users are bullish on Ethereum price There are rising odds that the ETH price will continue doing well this year. A Polymarket poll with over $2 million shows that the odds of ETH reaching $4,500 on March 31 are at 55%. If that happens, it means that the ETH price will rise by over 23%…
Bitcoin (BTC), the leading cryptocurrency by market value, surged 121% last year to cross the six-figure mark, outshining traditional assets. However, this performance falls short in comparison to Pythagoras Investment Management’s Alpha Long Biased Strategy, which pushed the envelope even further. The fund, which combines a BTC base position with two uncorrelated strategies, achieved an impressive return of 204% in 2024, Pythagoras said in an email to CoinDesk. That equates to a 3x gain, significantly outpacing the 2x return a typical buy-and-hold bitcoin investor would have realized. The fund charges incentive fee only when it beats bitcoin’s performance. The fund’s…
The XRP Ledger (XRPL) account and object reserve fees drop by a whopping 90%, potentially paving the way for greater network participation. Prominent XRP community figure Vet called the public’s attention to the development today, noting that XRPL’s account reserve is now 1 XRP ($2.73). This represents a significant reduction of 90% from the previous fee of 10 XRP ($27.3). XRPL Labs Founder and XRP Proponents Advocate for Reserve Fee Reduction It is worth mentioning that the fee was previously set at 10 XRP to prevent the creation of spam and inactive accounts on XRPL. While the move protected the…
Hyperliquid, a layer 1 blockchain and decentralized exchange, has integrated Router Protocol’s Nitro bridge to enable direct deposits from more than 30 EVM and non-EVM chains, including Ethereum, Solana, Sui, Tron, and Base. The integration eliminates a previous two-step process that required traders to bridge funds through Arbitrum before accessing Hyperliquid. Users can now deposit assets directly through a single interface. The platform has seen substantial growth in the past six months, attracting over $1 billion in net stablecoin inflows and reaching $3 billion in total value locked. Its deposit bridge currently holds more than $2 billion in stablecoins, according…
Semler Scientific expanded its Bitcoin treasury with nearly a $30 million purchase, while reporting a 58.4% BTC yield since adopting its crypto strategy. Healthcare tech company Semler Scientific boosted its Bitcoin (BTC) holdings, acquiring 297 BTC for $29.1 million between Nov. 18 and Nov. 22 at an average price of $97,995 per BTC, according to a Nov. 25 press release. As a result of the company’s latest transactions, its total crypto holdings now stand at 1,570 BTC, acquired at an aggregate cost of $117.8 million and an average purchase price of $75,039 per BTC, the press release reads. The healthcare…