Author: NBTC

Several Ethereum (ETH) on-chain metrics suggest a potential short-term price correction after the cryptocurrency’s 35% rally over the past 30 days. ETH recently touched the $4,000 mark, prompting concerns that it was overbought. As the price reaches this key resistance level, the metrics suggest that selling pressure may intensify, potentially leading to a pullback before any further upward movement. Ethereum Flashes Bearish Signs One of the top Ethereum on-chain metrics suggesting this decline is the price-Daily Active Addresses (DAA) divergence. Simply put, the price DAA divergence shows whether a cryptocurrency’s value is increasing alongside user engagement or not. When the…

Injective hit a new monthly ATH in 24-hour trading volume, reaching $82.3 million and 3.5 million transactions. NTT Digital joins Injective as a blockchain validator, expanding its influence in Web3 and blockchain adoption. The injective ecosystem has seen amazing expansion and activity in the last 24 hours, attesting to numerous important benchmarks. Setting a new monthly record with the all-time high (ATH) 24-hour trading volume of $82.3 million, one of the most significant successes is the amazing 3.5 million transactions handled during this period, which further confirms the increased interest and involvement inside the ecosystem, which reflects this increase in…

Upbit, one of the most trusted global cryptocurrency exchanges, has announced the listing of Magic Eden (ME) for trading on the KRW, BTC, and USDT markets. Upbit Will Support Magic Eden (ME) Trading in KRW, BTC, and USDT Markets Details of the Listing Magic Eden (ME) is a token associated with the Magic Eden platform, a well-known multi-chain NFT marketplace. The token will be used for governance, staking, and user rewards within the platform’s ecosystem. ME will initially be available only for deposits via the Solana network. Users must approve the network before initiating deposits or withdrawals. Liquidity Preparation: Trading…

The Solana ecosystem has disclosed a groundbreaking advancement of Sonic SVM, the first TikTok-integrated Web3 chain. Sonic SVM has over 2 million wallets and a staggering 3 billion on-chain transactions. This paves the way for the next generation of blockchain gaming and decentralized applications. 1/7 🚀 The Solana ecosystem is buzzing with innovation! Sonic SVM @SonicSVM, the first TikTok chain, is bringing Web3 gaming and applications to billions. With over 2M wallets and 3B+ on-chain transactions, Sonic is a game-changer. 📷 #Solana #Web3Gaming — Mask Network (mask.io) (@realMaskNetwork) December 9, 2024 HyperGrid, Sonic SVM’s modular multi-SVM framework is at the…

Michael Saylor, co-founder and executive chairman of MicroStrategy, has taken to his account of the X social media network to issue a regular Bitcoin-themed tweet with an image. This time, however, the topic of his tweet is not only BTC. The message and the image seem to be a reaction to the recent presentation of Tesla’s Robotaxi/Cybercab made by its CEO Elon Musk on October 10. This event was called “We, Robot…” referring to a movie starring Will Smith based on Isaac Asimov’s sci-fi stories. Future vehicles and Bitcoin Saylor published a tweet, which goes as follows: “The vehicles of…

Ethereum price corrected gains from the $4,080 resistance zone. ETH is now trading below $4,000 and showing some bearish signs. Ethereum started a downside correction from the $4,093 high. The price is trading above $3,920 and the 100-hourly Simple Moving Average. There was a break below a key bullish trend line with support at $3,965 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh increase if it stays above the $3,840 support zone. Ethereum Price Corrects Some Gains Ethereum price remained well-bid above the $3,750 support zone. ETH formed a base and started…

Amid a drop in XRP’s market supply, a pundit speculates that Ripple Chairman Chris Larsen’s 2.75 billion XRP could go into supporting ODL (now Ripple Payments). XRPWallets, a community-driven X account dedicated to tracking flows around ODL, discussed this in a recent post. Notably, the latest commentary came on the back of the gradual movements of the XRP tokens transferred from one of Larsen’s wallets last month. Chris Larsen Moves 50M XRP Recall that The Crypto Basic confirmed in mid-September that the Larsen address moved out 50 million XRP. This transaction was noteworthy, as it marked the first significant outflow…

Binance Futures has announced the launch of USDⓈ-margined perpetual contracts offering up to 75x leverage for four new trading pairs. Binance Futures to Launch New Perpetual Contracts with Up to 75x Leverage The new contracts will expand the platform’s range of trading options and improve user experience. Launch Schedule The new permanent contracts will enter into force on 10 December 2024 according to the following schedule: 15:00: RAYUSDT (Raydium) 15:15: KOMAUSDT (Koma Inu) 15:30: VIRTUALUSDT (Virtuals Protocol) 15:45: SPXUSDT (SPX6900) Key Features Leverage: Up to 75x, catering to both aggressive and conservative trading strategies. Funding Rates: At launch, the maximum…

New research from the Bank of England suggests that emerging privacy technologies such as zero-knowledge proofs could enhance user control over data in a digital pound. The Bank of England has suggested that zero-knowledge proofs and other privacy-enhancing technologies — also known as PTEs — could be viable components of a potential digital pound. In its latest report called “Enhancing the Privacy of a Digital Pound,” the central bank said that such technologies as pseudonymization, ZK-proofs, and secure multiparty computing, “might feasibly be applied to digital currency systems such as the digital pound to minimize the sharing of data both…

As Bitcoin continues its prolonged consolidation phase, Ki Young Ju, Founder and CEO of CryptoQuant, has warned that if no Bitcoin (BTC) bull market emerges within the next two weeks, this year will mark the longest sideways movement in a halving year in the cryptocurrency’s history. His comment comes 285 days into 2024, a year that has seen Bitcoin remain range-bound for an extended period despite earlier bullish expectations. Ki Young Ju’s analysis reflects growing concerns within the crypto community about Bitcoin’s performance following its latest halving event. Typically, halving years are associated with significant price surges as supply decreases,…