Author: NBTC
Ethereum (ETH) continues to absorb Bitcoin (BTC) selling pressure in November, looking at price action when writing on November 24. In the daily chart, ETH bulls have the upper hand, adding roughly 9% versus BTC from October lows. Ethereum Outperforms Bitcoin In November ETH buyers are firm, with price action still confined inside the conspicuous bullish engulfing bar of November 9. Despite bears forcing prices lower in the second week of November, the failure of BTC bulls to reverse all losses suggests that ETH buyers are still in command. If anything, prices may rise in the days ahead, reversing losses…
Blockchain analytics platform Token Terminal has provided insight into the future trajectory of the second largest cryptocurrency by market cap, Ethereum (ETH). Interestingly, they predict that the crypto token could rise as high as $36,800. When Ethereum Will Hit $36,800 In the research paper released by the platform, Ethereum is billed to hit the $36,800 mark by 2030. However, this prediction is made in the best-case scenario of 2030 being a bull market season. One of the ways in which they analyzed ETH’s future value was with the total Addressable Market analysis. They looked at the industries already adopting blockchains…
Ethereum has cleared the $2,100 level during the past day, and if on-chain data is anything to go by, a rally to new yearly highs should be “easy.” Ethereum Has No Major On-Chain Resistance At Higher Levels An analyst in a post on X explained that Ethereum has overcome a major on-chain resistance zone with its recent price rally. The on-chain resistance and support levels are defined based on the density of investors who bought at them. The reason behind this lies in how investor psychology tends to work. For any investor, their cost basis is an important level, so…
As digital actuality innovators envision it, our future may more and more intertwine with the metaverse. A futuristic integration of the digital and bodily worlds, the metaverse gives a brand new platform for social interplay, commerce, and leisure. This house opens huge potentialities, and automotive giants like Porsche are exploring this digital frontier, contemplating how one can merge their famend designs with this digital universe. Nvidia’s Omniverse: A Catalyst Innovation The shift in direction of digital automotive improvement is gaining momentum, led by U.S. chipmaker Nvidia with its ‘Omniverse‘ platform. This know-how is ready to revolutionize the business by creating…
Bitcoin Halving is one of the most pivotal events when block rewards for mining are reduced in half. The event takes place every four years, which started in 2012, and the last event took place in 2020 when block rewards were reduced to 6.25 for every block successfully made. The next Bitcoin Halving event is expected to take place in April 2024, with block rewards further reducing to 3.125. In this article, we will explore the Bitcoin Halving events, present a historical analysis, and the potential price trajectories and the impacts of the halving event on the Bitcoin market. Understanding…
In a new analysis, JPMorgan has raised concerns about the potential outflow of funds following the possible conversion of Grayscale Bitcoin Trust (GBTC) into an ETF. The banking giant estimates that the conversion could prompt investors to withdraw at least $2.7 billion. The Grayscale Bitcoin Trust, a pivotal force in the previous bull market, has seen its discount to Bitcoin’s current market price shrink from -46% at the beginning of the year to -9.77% by November 22, the lowest level since mid-August 2021. Notably, this reduction in discount is important because it indicates that investors are expecting the US Securities and…
A CryptoQuant Analyst has identified a significant systemic buying trend in Ethereum, suggesting a rising influx of strategic investments into the blockchain network. Analyst Reveals Ethereum Systemic Buying Trend A crypto market observer and a contributing analyst at CryptoQuant, Maarten Regterschot has taken to X (formerly Twitter) to publish a systemic buying trend he witnessed in Ethereum. The analyst presented a chart indicating that one or more investors have been engaging in Time Weighted Average Price (TWAP) buying on Ethereum futures. Regterschot stated that the linear increase in open interest in Ethereum suggests that there has been systemic buying of ETH…
Movement Labs is all set to release M2, which is the first Move Virtual Machine L2 for Ethereum, upgraded with Celestia in the form of a modular DA. Movement is creating an ecosystem of modular move-oriented blockchains with the help of Celestia’s Blobstream and modular stack. It will also introduce public goods and tooling to encourage the acceptance of the Move programming language throughout wider blockchain ecosystems. By utilizing Movement and Celestia, developers can implement secure and high-output Move VM rollups, such as smart contracts. M2 enables developers to connect with Movement’s verification system to audit and manage the secure…
Experts are laying out their predictions by putting Polygon on the list of the top three chains for the next year. Needless to say, this is merely an estimate, with the actual outcome inclined to drive either way. The majority of the prediction is based on the fact that Polygon 2.0 will change the course of its ecosystem. Another aspect is the mass adoption of Web3 and the upcoming $POL listing. Polygon Miden is leading by being at the center of the vision for Polygon 2.0. It aims to bring unified liquidity and seamless bridging at a higher speed. Two…
Blockchain innovation is the heartbeat of progress, and Bitcoin Spark challenges the reign of established giants like Bitcoin and Ethereum. As the crypto arena evolves, attention is increasingly turning towards the next-generation blockchains with promises to redefine the norms of decentralized ecosystems. Bitcoin price Bitcoin price is rising thanks to multiple fronts accelerating the pioneering cryptocurrency’s surge. As a mirror to the general cryptocurrency state, Bitcoin price is multi-faceted. Factors include Bitcoin halving events, ETF approval, rising altcoins like BTCS, macroeconomic factors, and inflation. Bitcoin needed a spark to execute a bull run, and Bitcoin Spark delivered the initiative considering…