Author: NBTC

Analysts are warning of a potential Bitcoin price correction as open interest in futures markets climbs to new highs for 2024, while trading volumes remain subdued. Experts have suggested that the imbalance between rising leverage and declining activity could create conditions for sudden price reversals if traders begin closing long positions. “Open interest has reached a new peak for the year, and funding rates are at their highest since June,” Illia Otychenko, Lead Analyst at CEX.IO told Decrypt. “But the troubling part is the downtrend in volume. This means fewer traders are actively participating, but those that remain are heavily…

The Central Bank of Bolivia shared numbers that show the country’s crypto activity is overheating. According to the institution’s data, purchase and sales operations for crypto assets grew over 100% after the bank lifted a blanket ban on crypto operations earlier this year. Bolivia Heats up With Crypto Adoption, Over 252,000 Hold Digital Assets Bolivia, one of the smallest economies in Latam, is growing its crypto adoption levels. In a press release shared on November 25, the Central Bank of Bolivia highlighted this rise in crypto activity, stating that it has “dynamized the national payment system.” Data from the central…

A cryptocurrency trader’s bet on the newly created ANT by Claude (ANT) meme coin ended in capitulation, with the investor losing close to $500,000 in less than an hour. The transaction involving Solana (SOL) was recorded on the Raydium automated market maker (AMM) platform, specifically on the ANT/SOL trading pair. In this transaction, the trader spent 3,396 SOL, roughly $587,000, to acquire 14.7 million ANT tokens. However, 40 minutes later, the same trader offloaded the entire position for only 773 SOL, worth roughly $134,000, according to data retrieved by Finbold from on-chain analysis platform Lookonchain on Thursday, October 24. This…

With a net inflow of 7,494 BTC, or roughly $490 million, in just one day as of Oct. 15, 2024, Bitcoin ETFs have experienced a sharp increase in activity. A total of 3,627 BTC, or about $237 million, was deposited into Fidelity, one of the biggest holders of Bitcoin ETFs. With an impressive 183,695 BTC valuation, or $12.02 billion, Fidelity now owns a significant amount of Bitcoin. A total of 2,485 ETH, or roughly $6.38 million, went into Ethereum ETFs on the Ethereum side. Leading the pack was the iShares Ethereum Trust, which added 5,453 ETH valued at $14.01 million,…

Last month, the amount of ether locked in liquid staking platforms surpassed 14 million, but over the past 33 days, it dipped by 230,000 ether to 13.85 million. Rocket Pool Hit Hard: Massive Outflows Highlight Liquid Staking Shakeup Liquid staking, a favored decentralized finance (defi) method, has protocols holding the largest total value in defi today. On Oct. 28, 2024—33 days ago—liquid staking ether protocols collectively held 14.08 million ETH. That figure has since fallen to 13.85 million, marking an outflow of 230,000 ETH, valued at $844 million at current rates. Currently, the combined value of ether locked in these…

This is a segment from the Forward Guidance newsletter. To read full editions, subscribe. The transatlantic trade-dependent Euro Area is prepping for Donald Trump’s second term and the return of higher tariffs. US tariffs may lower Euro Area GDP by 0.4%, the Institute of International Finance (IIF) estimated in a Monday note. With many European countries yet to fully recover from the pandemic and increased competition from China, renewed tariffs could lead to a “substantial economic hit,” the report adds. Among the countries most likely to be impacted are Germany, France and Italy. Machinery and industrial goods exports from Italy…

Elon Musk, serial tech entrepreneur, the owner of X, has made a fundamental statement on how efficient X can be for political and business leaders, encouraging them to post on it. Musk highlights X’s big efficiency Musk has stressed the efficiency of X as opposed to legacy media, where it can be held by the “negativity filter” or may become part of “some reporter’s often unfair hit piece.” It is certainly possible to “say something silly once in a while, as I do,” Musk admitted. However, he said, that even this would add to the authenticity of the speaker on…

Ethereum price has underperformed most altcoins in this crypto bull run, but analysts believe that the coin could stage a comeback and surge to $10,000. The ETH token was trading at $3,725, its highest level since June 7, and 75% above its lowest level in August. Crypto analysts are bullish on Ethereum price The crypto community is largely divided about Ethereum as it continues to lose market share to Solana, Sui, and layer-2 networks like Base and Arbitrum. Ethereum’s critics point to its weak inflows in the exchange-traded funds (ETF) industry. Recently, however, we have seen some movement as inflows…

According to RootData statistics, 90 publicly disclosed crypto venture capitalist (VC) investments occurred in November, representing a 9% decrease from October’s 99 rounds. November’s total fundraising amount reached $449 million, a whopping 43.66% decrease compared to the $797 million raised in October. Notable Decline in Crypto VC Investments Venture capital investment activity acts as a crucial barometer of major investors’ interest and confidence in the crypto market. Although November saw a dramatic bull market for crypto asset valuation, these gains did not translate into increased VC activity. Deals and the total amount raised both decreased dramatically in November. In fact,…

Over time, gaming projects like FLOKI, NAKA, and others have emerged prominently in the dynamic world of cryptocurrency due to several projects and robust communities. In a new report by the Phoenix Group and LunarCrush, the top gaming projects have a high social engagement score across multiple platforms, indicating their rising prominence in the gaming and Web3 industry. TOP #GAMING PROJECTS BY SOCIAL ACTIVITY$APE $EGLD $FLOKI $NAKA $VRA $AXS $SUPER $RENDER $SAND $MANA pic.twitter.com/VrCTUamjAG — PHOENIX – Crypto News & Analytics (@pnxgrp) October 23, 2024 The reports include “Engaged posts” as the number of posts within the last 24 hours…