Author: NBTC
Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial. Since its initial coin offering in 2017, the Tezos blockchain has become the art world’s favorite because of its energy efficiency and low cost. AI artists, including Refik Anadol, an internationally renowned media artist, director, and pioneer in data and machine intelligence aesthetics, use Tezos to execute peer-to-peer transactions and deploy smart contracts. The token is listed on crypto exchanges as Tezos (XTZ). You might also like: Expanding mobile services with device licensing and crypto | Opinion…
Wall Street investment bank Jefferies analysts believe former President Donald Trump’s “overt support” for Bitcoin and crypto, combined with anticipated higher inflation, larger fiscal deficits, and political pressure on the Federal Reserve, could undermine the US dollar’s dominance as a store of wealth. The analysts said in a research report shared on social media on July 19 that such an environment would be highly favorable for crypto-related stocks and gold miners. The phenomenon is already in play with crypto-stocks and the wider market rallying after Trump survived an assassination attempt. As Trump’s prospects in the 2024 presidential election rise, these…
Chainlink price broke above $17.70 on Friday May 24, to reach a 45-day peak as the whale investors on embarked on a LINK buying spree in reaction to Ethereum (ETH) spot ETF approval this week. Chainlink overtakes Bitcoin Cash after Ethereum ETF Approval Since the Ethereum ETF approval on May 23, crypto investors have been observed making conspicous moves to redirect capital towards ETH markets as well critical projects built on the Ethereum blockchain network. Chainlink is widely regarded as a market leader providing the critical off-chain price feeds and other vital information needed by complex smart contracts to become…
In a new market update, the research team of leading cryptocurrency asset manager Grayscale predicted that the cryptocurrency market would be able to recover from the most recent crash “in the coming months.” Its optimistic outlook is based mainly on the “broadly supportive” macro backdrop. Grayscale has mentioned the possibility of the U.S. Federal Reserve rate cuts as well as the thriving U.S. stock market. As reported by U.Today, the price of Bitcoin crashed to $53,350, its lowest price point in nearly half a year, earlier this Friday on the Bitstamp exchange. Close to $700 million worth of crypto got…
Ethena Labs is still closely watched for potential contagion risks. The bull market is now helping the project, but the effect of USDe may spread to additional protocols. Ethena Labs is gaining support from the Ethereum (ETH) bull market. However, the project is still a source of risk, tied to the newly issued 3.4B of USDe. The project now faces both external and internal factors that could sway the balance and affect the usage of USDe. Over the past weeks, the acceptance of USDe into new protocols was gaining speed. The Pendle ecosystem is now absorbing more USDe, as well…
On 18 July, Jacob Canfield, a prominent figure in the cryptocurrency world, shared valuable insights on the concept of hedging via the social media platform X. Canfield emphasized the importance of hedging as a strategy for traders to protect their investments against market downturns and manage capital gains effectively. Canfield started by explaining that hedging is one of the best methods to safeguard investments from downside risks. He said that it also helps traders avoid selling assets within a year, which can lead to significant capital gains taxes. He then listed several reasons for hedging: Reducing Taxable Events: By hedging,…
Canadian cryptocurrency mining firm HIVE Digital has announced plans to build a 100MW mining center in Paraguay to boost its revenue. Crypto mining firm HIVE Digital is gearing up to build a 100 megawatt Bitcoin (BTC) mining center in Paraguay, a move that is expected to double the firm’s revenue and increase its hashrate. In a Monday press release, the Vancouver-headquartered miner said the crypto mining site will generate “over $100 million” of stable U.S. dollar revenue for Paraguay’s government-owned utility company. Commenting on the development, Frank Holmes, HIVE’s executive chairman said the deal is expected to add up to…
Bitcoin (BTC) is currently in its deepest retrace of the current cycle, nearing a 26% pullback in 46 days. According to a recent video by the trader identified as Rekt Capital, the $58,000 price area might be volatile all quarter, serving as a baseline for BTC to take off into an upward movement. “We are still trying to hammer that base out. We are grabbing liquidity at lower prices, so we need buyers to get attracted into the market, to buy into the market, to attract that buying pressure at lower price levels to initiate a reversal back above $58,800,”…
ETH derivatives volume suggests that Ethereum investors have little confidence in the Spot Ethereum ETFs, sparking a massive rally for the second-largest crypto token by market cap. This development comes amid the imminent launch of these funds, which are expected to begin trading next week. Ethereum Futures Premium Highlights Little Confidence In ETH’s Price According to data from Laevitas, Ethereum’s fixed-month contracts annualized premium currently stands at 11%, suggesting that crypto traders aren’t bullish enough on ETH’s price. Further data from Laevitas shows that this indicator has yet to sustain levels above 12% this past month. This is surprising considering…
A historic transfer of wealth is now in motion as trillions of dollars held by older generations are moved down the line. And according to a new report, one under-explored facet of the transfer is just how much money is about to move “horizontally.” In its 2024 Global Wealth Report, UBS says that within the next 20 years, older generations are expected to hand over $83 trillion worth of assets – a figure roughly equivalent to the economic output of all countries in a single year. But many members of younger generations will have to wait in line as spouses…