Author: NBTC
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…
Benchmark said Bitdeer could be a potential takeover target The broker raised its price target for the bitcoin miner to $16 from $13. Core Scientific’s deal with AI hyperscaler CoreWeave has helped drive a re-rating of the sector, the report said. Bitcoin miner (BTC) Bitdeer Technologies (BTDR) has become an alluring takeover target, broker Benchmark said in a research report on Monday. Bitdeer’s value has been bolstered by the growing interest in crypto miners’ energy assets from artificial intelligence (AI) and high performance computing (HPC) firms in recent months. The broker raised its Bitdeer price target to $16 from $13…
As Bitcoin faces strong headwinds, breaching two critical support levels at $60,000 and $56,500 in quick succession, it may, on the surface, appear that fear is gripping the market. There are reasons to be afraid, especially for coin holders leveraging BTC in decentralized finance (DeFi) protocols, looking to take out loans using the asset as their collateral. Fear Is Yet To Grip The Bitcoin Market Even as prices plunge, one on-chain analyst, taking to X, argues that the market is relatively composed and fear and panic haven’t fully gripped it yet. Pointing to the Bitcoin Daily Realized Profit Loss ratio,…
Ethereum core developers continue to grapple with the scope of the forthcoming Pectra upgrade, specifically the inclusion of EIPs related to the EVM Object Format (EOF). Thursday’s All-Core Devs call was dominated by debate over the feature set due to concerns raised by Geth developer Marius van der Wijden. In a recent blog post, van der Wijden laid out his case against EOF, concluding that “the drawbacks strongly outweigh the potential benefits.” In his view, the uncertainty around its efficacy, coupled with unknown security implications and other potential risks resulting from complexity, should merit removal. It’s a bit of a…
BRICS is still dead set on dethroning America and its dollar as the world’s reserve currency. The boys added some heavy hitters earlier this year. UAE, Egypt, Iran, and Ethiopia. They’ve also sent an invite to Saudi Arabia, the world’s top oil producer. But Mohammed bin Salman says he is still thinking it over. If Saudi Arabia jumps on board, BRICS will control 42% of the global oil and gas market. And that could seriously flip the script on how oil deals are done, making it so much easier to use local currencies instead of the U.S. dollar. Vladimir Putin.…
MetaCollabWin, a Web3 metaverse and real-world asset game, is joining the Neo X ecosystem. MetaCollabWin is a 3D world game being built by MetaSphere Technology Co. Ltd., in which players build a digital version of Bitcoin City on parcels of land and participate in side quests to earn points to upgrade digital land and characters. The MetaCollabWin team states that game players can be rewarded with MCW platform tokens, El Salvador’s digital treasury bonds, physical land in El Salvador, or a digital identity. The game is being designed in collaboration with El Salvador and the country’s “Bitcoin City,” a planned…