Author: NBTC
Many signs are pointing to BTC hitting $70K in the near future, from technical market data to prediction market betting. Inflows into the U.S. BTC ETFs continue to be significant with $458.5 million inflow during the Wednesday trading day. Bitcoin’s (BTC) demand is returning after being mostly muted since May, with apparent demand spiking to a monthly growth of 177,000 BTC last week in a move that preceded a 5% rally. Bitcoin is up 11% on-week, according to CoinDesk Indices data, beating the CoinDesk 20 (CD20), an index of the largest digital assets, which is up 9.6% during the same…
Scroll launched its mainnet on October 17, 2024, a significant step forward for the layer 2 project. It joins a list of L2 projects aimed at improving Ethereum’s scalability, albeit with competitive zk-rollup technology. News of the SCR token launch was met with initial excitement. However, Scroll has found it challenging to gain market traction compared to similar projects. Among other updates that left them underwhelmed around the time of the airdrop, they especially worried about the percentage allocated to the Binance launchpool. Ye Zhang, a co-founder of the Scroll network, defended the project’s decision to favor Binance by saying…
Swarm Markets is offering investment in gold bars on the Bitcoin network in partnership with OrdinalsBot. Swarm and OrdinalsBot’s service involves inscribing satoshis with unique gold kilobar serial numbers, in effect allowing them to be traded on Bitcoin’s Ordinals protocol. Bitcoin is often referred to as “digital gold,” but now it will be possible to mint and trade physical gold on the Bitcoin blockchain via the Ordinals protocol for the first time. Swarm Markets, a real-world assets (RWA) platform licensed by German regulator BaFin, is offering investment in gold bars on the Bitcoin network in partnership with OrdinalsBot. Gold will…
The cat-themed MEW coin has soared to new heights, breaking its all-time high and exceeding a $1 billion market cap. This milestone follows Bitstamp’s announcement to list MEW trading pairs like MEW/USD and MEW/EUR. In addition, Korea’s top exchange, Upbit, reported higher MEW volume than Bitcoin, showing the rising popularity of this meme coin. BREAKING: SOLANA MEMECOIN $MEW (@MewsWorld) HITS $1 BILLION MARKET CAP pic.twitter.com/8VFkUjyVVq — DEGEN NEWS (@DegenerateNews) October 24, 2024 Market experts are excited about MEW’s potential, given its consistent uptrend since its launch. Some analysts predict parabolic moves in the coming days, with a target price of…
Matrixport, a leading digital asset platform, has published a report highlighting the potential impact of US President-elect Donald Trump’s cabinet appointments on the cryptocurrency industry. Matrixport Report: Trump Administration Hints at Crypto-Friendly Shift in US Policy Trump has nominated three key figures to lead the Treasury Department, Commerce Department, and Securities and Exchange Commission (SEC), all of whom are reportedly crypto-friendly and recognize the inevitability of digital assets in modern finance. If these nominations are approved, the U.S. could see an accelerated integration of cryptocurrency into its economic framework, according to Matrixport. The “Bitcoin as digital gold” 2024 narrative could…
Bitcoin miners had plenty to smile about in November, as their revenue received a significant boost thanks to a price climb, hitting levels not seen since April. Bitcoin Miners Celebrate $1.21B November Payout as Hashrate Soars Bitcoin miners saw brighter days in November, enjoying a substantial boost in earnings compared to October, thanks to a significant rise in the hashprice—the estimated value of 1 petahash per second (PH/s) of hashpower. Starting the month at $46.71 per PH/s, as reported by hashrateindex.com, the hashprice climbed to $60.69 per PH/s by the month’s end. Notably, it even brushed close to $64 per…
Bitcoin price climbed further higher above the $67,500 resistance zone. BTC is now consolidating and might clear the $68,350 resistance to continue higher. Bitcoin remained stable and extended gains above the $68,000 zone. The price is trading above $67,200 and the 100 hourly Simple moving average. There is a connecting bullish trend line forming with support at $66,800 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could rally further if there is a close above the $68,000 resistance zone. Bitcoin Price Remains Supported for More Upsides Bitcoin price remained supported and extended its increase…
Flare, the blockchain for data, has accomplished a major milestone for the global development of decentralized applications on Google Cloud Marketplace. Novel Blockchain Machine for GCM is set to streamline dApp development on private nodes and cut costs for dApps teams. Flare (FLR) inyroduces Blockchain Machine on GCM, streamlines node management According to the official statement shared by its team, Flare (FLR), a blockchain for data, unveiled its newest development, Blockchain Machine. Based on Google Cloud Marketplace, this instrument is designed to accelerate the process of full node deployment. The @encodeclub London is happening tomorrow and here’s what we’ve got…
European Union banking regulations have provided a significant competitive advantage for crypto firms compared to the challenges faced by their U.S. counterparts, according to an analysis by Patrick Hansen, senior director of EU strategy and policy at Circle. Circle Exec: Regulatory Clarity Helps Europe Surpass U.S. in Crypto-Friendly Banks According to Hansen’s report, he highlights the EU’s 20-year effort to foster innovation and competition through clear legal frameworks, benefiting fintech and cryptocurrency sectors. Hansen attributes Europe’s crypto-friendly banking environment to the EU’s long-standing regulatory initiatives. These include the E-Money Directive (EMD), introduced in 2000, and the Payment Services Directive (PSD)…
Bitcoin is trading at a discount on South Korean exchanges, reversing the traditional “kimchi premium” that has historically signaled bullish market sentiment. Per The Korea Times, the cryptocurrency is priced approximately 700,000 won ($511.73) lower domestically compared to global exchanges, resulting in a negative premium (discount) of -0.74% as of Thursday afternoon. This shift appears to suggest a bearish outlook among South Korean investors. Typically, a higher kimchi premium indicates strong local demand and positive sentiment, often leading to Bitcoin prices exceeding global rates. In contrast, a lower or negative premium reflects weakened enthusiasm and decreased buying pressure, potentially signaling…