Author: NBTC
A Bitcoin-blockchain based decentralized finance (DeFi) project debuted a stablecoin fully backed by bitcoin BTC$104,748.51 tokens as part of its effort to build a financial system centered on the largest and oldest cryptocurrency. Elastos, developer of the BeL2 protocol, unveiled its bitcoin dollar (BTCD) on Wednesday. The project aims to create a digital version of the Bretton Woods system, the post-World War II agreement that pegged the U.S. dollar to gold, making the greenback the world’s reserve currency as a means of fostering monetary stability. Elastos said it is “reimagining [Bretton Woods] with Bitcoin at its core.” Stablecoins are tokens…
Ethereum is currently hovering around the $2,522 level after a mild drop of 0.4%, with the market showing mixed signals across multiple timeframes. The price structure has continued to consolidate within a wide parallel channel that started forming in late May, while indicators across momentum, volume, and volatility suggest a critical inflection point for the Ethereum price today. ETH Price: Smart Money Zones And Trend Channels Signal Mid-Zone Balance ETH price dynamics (Source: TradingView) Looking at the 4-hour chart, Ethereum price is stuck between a key supply zone near $2,650 and demand around $2,420. The Smart Money Concepts (SMC) indicators…
Changes to Trump-era tariffs are reportedly on hold as the president awaits a call with his Chinese counterpart. Meanwhile, the European Union has issued a warning of potential retaliation. U.S. stock indices closed mixed on Monday, June 2, as trade policy uncertainty kept investors cautious. The Dow Jones fell 194 points, or 0.46%, to 42,075, while the S&P 500 held flat at 5,909 points. The Nasdaq gained 61 points, or 0.32%. Trade policy was in focus, as tensions between China and the U.S. once again ignited. China accused the U.S. of discriminatory restrictions, especially relating to new controls on AI…
Exciting news for cryptocurrency enthusiasts and holders of the MERL token! Merlin Chain, a prominent Bitcoin Layer 2 protocol, has just announced a significant development set to capture the attention of those seeking yield in the digital asset space. The protocol is launching a new fixed-term Merlin Chain Staking program, offering a highly competitive annual percentage rate (APR) for participants. What is Merlin Chain and Why Does Staking Matter? Before diving into the specifics of the new program, it’s essential to understand what Merlin Chain is. It operates as a Bitcoin Layer 2 solution, aiming to enhance the scalability, efficiency,…
The Bank of England plans to introduce new proposals on banks’ exposure to crypto by 2026 to protect financial stability, a key official said Wednesday. The U.K. is looking to formulate rules that are more on the restrictive side, said David Bailey, the executive director of prudential policy at the Bank of England, in a speech at Risk Live Europe in London. Bailey suggested the country is likely to encourage banks to have a low exposure to crypto. “There are also examples where it might be more appropriate to start more towards the restrictive end of the spectrum, while evidence…
SPK Token, the native token of Spark, launched on Tuesday after much anticipation. The token secured listings on major exchanges, including Coinbase, Binance, and others. However, since the launch, it has experienced a significant drop, plunging by double digits. This decline could likely be attributed to the post-airdrop sell-off. Spark (SPK) Token’s Price Plummets Post-Launch Spark is a DeFi platform that allocates capital on-chain by borrowing from Sky’s $6.5 billion reserves of stablecoins. The platform deploys this capital across decentralized finance (DeFi), centralized finance (CeFi), and real-world assets (RWAs). The SPK token plays a central role in the protocol. It…
Bitcoin is attracting interest this month, with analysts noting that it could revisit certain key price points. Analyst Plan B considers revisiting the RSI 75 level as ideal for Bitcoin to move beyond $130,000 by June. The market relies on conquering the $130,000 price point to sustain upward momentum. Source: X Bullish Sentiment Rises Amid Heavy Short Liquidations According to the analytical platform Coinglass, the overall open interest increased by 4.94% to $75.96 billion, and the OI-weighted funding rate shifted from negative to positive at 0.0041%. The current long-to-short ratio of 1.071 is optimistic, showing that most traders have a…
There’s a quiet transformation underway in decentralized finance (DeFi). While DeFi’s previous bull market was driven by eye-watering—and dubious—yields and speculative frenzy, the current growth has been powered by the sector becoming a backend financial layer for user-facing apps and increasing institutional participation, according to a Wednesday report by analytics firm Artemis and on-chain yield platform Vaults.fyi. The total value locked (TVL) on top DeFi lending protocols—including Aave, Euler, Spark and Morpho—has surged past $50 billion and approaching $60 billion, growing 60% over the past year, the report showed. This growth has been driven by rapid institutionalization and increasingly sophisticated…
Ethereum’s price action has formed a consolidation pattern between $2,500-$2,540 with decreasing volume suggesting accumulation rather than distribution. The cryptocurrency remains trapped below the critical $2,800 resistance level that has acted as a barrier several times in recent weeks, with traders closely watching for a breakout that could trigger renewed momentum toward $3,000. Meanwhile, staking activity has reached record levels with over 35 million ETH now locked, potentially reducing circulating supply as geopolitical uncertainties continue to inject volatility across financial markets. Technical analysts note that Ethereum may be approaching a potential ‘golden cross’—a bullish signal that occurs when the 50-day…
Strategy revealed on June 2 that it will offer 2.5 million shares of its 10% Series A Perpetual Stride Preferred Stock, branded “STRD,” to acquire more Bitcoin (BTC). The STRD security carries a $100 initial liquidation preference and pays non-cumulative cash dividends at 10% a year when Strategy’s board declares them. Strategy intends to use net proceeds for general corporate activities, including Bitcoin purchases and working capital. Barclays, Morgan Stanley, Moelis & Company, and TD Securities will run the books, with The Benchmark Company, AmeriVet Securities, Bancroft Capital, BTIG, and Keefe, Bruyette & Woods acting as co-managers. Dylan LeClair, head…