Author: NBTC
The Bitcoin Market Value to Realized Value (MVRV) ratio has slipped into favorable territories amid the recovery push, hinting at a continuation of Bitcoin’s uptrend. After setting a new all-time high above $73,000 earlier this month, Bitcoin appeared to lose momentum as investors took profits amid the uptrend. The price of BTC dropped as low as $60,700 in the past week, with the bears calling for much lower prices. However, Bitcoin defied the odds, as it has for most of its history, having bounced back above $67,000 at the time of writing. This recovering bullish momentum, as well as a…
OpenSea, the leading NFT marketplace during the 2021-2022 bull run, is now in the middle of a transition to a new “OpenSea 2.0” launch with a much leaner team following layoffs last fall. And we’re starting to understand what that will look like as the once-dominant marketplace considers its evolution and next steps. On Tuesday, OpenSea announced support for the ERC721-C Ethereum NFT token standard, which was developed by video game startup Limit Break and enables project creators to enforce royalty fee payments on secondary market trades. It’s the latest move by OpenSea to adapt to changing tides in NFT…
Ethereum (ETH) is troubled as its metrics keep plummeting amid a broader market drawdown. At the time of writing, Ethereum is down by 5.90% in 24 hours to $3,338.93, a drop that has extended its decline over the past week to 8.65%. Ethereum’s uncertain growth path Commenting on the current outlook for Ethereum, top market analyst Ali Martinez shared data from crypto analytics platform IntoTheBlock (ITB) showing how Ethereum has no major support on its sliding path. Martinez noted that Ethereum losing its grip on the $3,460 support zone marks a major strain that puts the coin’s bulls in an…
In a significant move for the blockchain industry, TEN, an encrypted Ethereum Layer 2 network, has successfully completed a funding round, raising $9 million. This round was prominently led by R3, a powerful consortium consisting of 42 of the world’s most influential banks, known for their collaborative efforts in exploring blockchain technologies for real-world asset (RWA) tokenization and central bank digital currencies (CBDCs). TEN is engineered by Obscuro Labs and stands out as a roll-up platform specifically designed to tackle the prevalent challenges of encryption and scalability within blockchain applications. The platform’s connection with R3 is notable, with more than…
CoinTracker has announced support for Solana transactions. This will enable its users to calculate taxes once they have synced their wallets accurately. The process is seamless, beginning with syncing wallets before moving on to tax calculation. Finally, users get a report on several aspects, including, but not limited to, capital gain or loss. CoinTracker, with this partnership, aims to cover as many crypto transactions as possible and make its services accessible to the majority of users. Tax calculation on cryptocurrencies has often been defined as a nightmare. The reason is that there are various segments to consider. When it comes…
Bitcoin hitting $100,000 is “not just a possibility but a likely eventuality”, says Amir Tabch – chief executive of Liminal Custody Solutions. Tabch expects BTC to hit $100,000 in 2024 His analysis based on “sophisticated wave theories” suggests the recent pullback in BTC from its all-time high of over $73,000 may be an opportunity to buy. Tabch is convinced the recently approved ETFs that are rapidly bringing institutional capital into the crypto market alone is a strong enough catalyst for Bitcoin to hit $100,000 by the end of 2024. The financial technology expert is bullish on the exchange-traded funds as…
The decentralized derivatives protocol unveiled a high-yield structured product called Gold Rush last week. The basket options strategy involves Tether’s gold-backed token, XAUT, and ether as underlying assets and a safety component that protects users from a 30% drop in the tokens’ prices. Decentralized finance (DeFi) projects are continuing to develop structured products, which offer decent returns, market exposure and protection from losses and were previously available only to institutional investors in traditional markets. Last week, derivatives protocol Cega unveiled Gold Rush, a basket options strategy involving the Ethereum blockchain’s ether (ETH) token and Tether’s gold-backed {{XAUT}} as underlying assets…
Discussions about adjusting Ethereum’s issuance curve due to staking concentration and other factors are taking place on social media, with some developers in favor and some against this change. A recent article by Mike Neuder, an Ethereum Foundation researcher, highlights that Ethereum issuance should “preserve the viability and proportion of solo stakers.” Ethereum Issuance Curve Reduction Discussion Rips Community Apart The Ethereum issuance curve is being scrutinized by different groups considering the latest trends and structures in the Ethereum protocol. A recent document titled “Issuance Issues,” authored by Ethereum Foundation researcher Michael Neuder supported solving several issues in today’s Ethereum…
The market cap of Solana hit an all-time high late Friday, with CoinGecko data showing that it reached a peak of over $82 billion. It has since dropped slightly to about $80.5 billion, though still remains above 2021 peak levels. But the price of Solana (SOL) is still well below its all-time November 2021 high of $259.96. That’s because more coins are in the market now compared to 2021, boosting the total market cap to new highs. SOL is currently trading for $181, up nearly 9% in 24 hours and 21% over the past seven days. Of the top 20…
Dmail Network has entered into a partnership with BridgeM, the very best cross chain bridge to connect the Bitcoin and Inscription ecosystems with Manta. It offers direct communication links between projects and subscribers through secure wallets and DIDs linked to the Dmail app. BridgeM joins the big league of Dmail Subscription Hub with this strategic partnership, and it is a breakthrough in enhancing cross chain liquidity. Dmail Network has set a unique standard for blockchain communication with approximately nine million users and 160 million message transactions. The Subscription Hub, shortened as SubHub, is vital in enhancing user engagement within the…