Author: NBTC
Amid Bitcoin (BTC)’s recent surge above $70,000 to hit unprecedented levels, analysts are voicing their thoughts on lackluster activity on-chain, indicating a notable reluctance on the part of investors to part ways with their holdings. No One Wants to Sell BTC as Bitcoin’s On-Chain Activity Declines, Analysts Say Despite Bitcoin’s rising price, real economic activity on the blockchain is showing signs of stagnation, indicating a reluctance to make a significant sell-off, according to experts. Blockware Solutions, a research firm, highlighted this trend in its latest Blockware Intelligence newsletter. Experts pointed out that the average on-chain transfer volume in USD was…
According to on-chain data, a large amount of 13,500 ETH has been transferred from Bitfinex, a major crypto exchange, to an unknown wallet. The transfer of a substantial amount of Ethereum from Bitfinex to an unknown wallet has led to speculation within the cryptocurrency community about the possibility of a whale buying Ethereum. The transfer was spotted and reported by Whale Alert, a service that tracks large cryptocurrency transactions: “13,500 ETH worth $47,991,234 was transferred from Bitfinex to an unknown wallet.” 🚨 🚨 13,500 #ETH (47,991,234 USD) transferred from #Bitfinex to unknown wallethttps://t.co/4InmhT3mWM — Whale Alert (@whale_alert) April 1, 2024…
Venture capitalists invested over 52% into crypto projects in March versus prior month. Crypto projects, specifically in the United States, received more than $1.16 billion last month, the second-highest amount in the past 12 months. The majority of capital went into projects related to crypto infrastructure and decentralized finance (DeFi). Venture capitalists increased their investments into crypto projects by over 52% in March, spurred by a new all-time high for bitcoin and continued success from the spot bitcoin exchange-traded funds (ETFs). Investors allocated more than $1.16 billion into the industry in March, the second-highest amount in the past 12 months,…
Cardano’s native cryptocurrency, ADA, has experienced an astonishing surge, with its derivatives trading volume skyrocketing by a remarkable 78% over the past 24 hours. This surge, as reported by CoinGlass, signifies a significant shift in market dynamics, reflecting the growing confidence and interest in the Cardano ecosystem. The data unveiled a staggering increase in the trading volume of open-ended futures on ADA, amounting to nearly $2.7 billion within the specified period. When considering spot market transactions, the overall trading volume for Cardano’s token surpassed an impressive $4 billion in just one day. This surge in trading activity is not an…
In a year marked by challenges and transitions within the gaming industry, the 2024 Game Developers Conference (GDC) in San Francisco emerged as a pivotal arena for the burgeoning sector of Web3 gaming. Chains like Avalanche and Arbitrum stood out, drawing attention with their compelling lineups of upcoming titles. Avalanche, in particular, made a significant impact with one of the largest exhibits at the conference, second only to Unreal. The company showcased a robust selection of games within its ecosystem, including titles such as Shrapnel, Providence, Off the Grid, MEGAWEAPON, BloodLoop, Petopia, and the Merit Circle’s Beam ecosystem. The presence…
BEVM, a decentralized EVM-compatible Bitcoin Layer-2 project based on the Taproot Consensus, has announced it successfully raised $10 million in funding from several investors. Details the project shared early Monday reveal that more than 20 institutions participated in BEVM’s seed and partial series A funding rounds. The funding received backing from venture capital firm MH Ventures, merchant bank and blockchain fund RockTree Capital and crypto VC Waterdrip Capital. Others are Arkstream Capital, ViaBTC Capital, SatoshiLab, Web3Port and Cogitent Ventures. The funding rounds have seen the project’s post- investment valuation rise to $200 million. Today, we are excited to announce that…
James Seyffart, a prominent Bloomberg analyst covering ETFs and the broader fund industry, has clarified that the odds of a spot Ethereum ETF being approved in the US are still low. Before that, he injected some excitement into the crypto community by making an April Fools’ Day joke about Ethereum ETF approval odds skyrocketing to 99%. “Sorry guys, had to join the fun,” the analyst quipped on the X social media network. As reported by U.Today, cryptocurrency asset manager Bitwise recently submitted a new Ethereum ETF application with the U.S. Securities and Exchange Commission. However, Eric Balchunas, Bloomberg’s senior ETF…
Meme coin seasons are known for frenzied market activity, driven by the meteoric rise of viral crypto projects that transform modest investments into fortunes overnight. The world knows dogecoin (DOGE) is the original meme coin, but a gang of newcomers has stormed the 2024 meme season. There’s a puppy wif a hat {{WIF}}, a smirking frog (PEPE), a clumsy sloth {{SLERF}} and more. Memes are fun, especially when you find six or even seven figures in your portfolio overnight. But with market mania and potential for generational wealth come tax considerations and the potential for astronomical mistakes. Zac McClure, MBA,…
In the past 12 days, the stablecoin sector has experienced a growth of $4.95 billion, reaching a new 2024 high of $149.03 billion in market valuation. Among various dollar-tied tokens that have seen their supply numbers go up over the last 30 days, Ethena’s USDE stands out with a 376% increase in its supply during this period. Stablecoin Economy Continues to Swell As the crypto market faced a decline on March 15, 2024, dropping 4.4% in value against the U.S. dollar, stablecoins have emerged as beneficiaries, capturing a substantial share of the trading volume over the last day. With a…
Bitcoin’s price has recently found support around the significant $60K price level, initiating a period of sideways consolidation correction. However, buyers are aiming to reclaim the $73K threshold in the mid-term, propelling the price towards a new all-time high. Technical Analysis By Shayan The Daily Chart A detailed analysis of the daily chart indicates that Bitcoin’s price has entered a mid-term corrective phase following a notable surge towards the all-time high of $73K. This consolidation has extended towards the crucial support region, delineated by the 0.5 ($62K) and 0.618 ($59.5K) Fibonacci retracement levels, where demand currently outweighs supply. Consequently, this…