Author: NBTC
Bitcoin has confirmed a precise retest of its symmetrical triangle’s lower boundary, validating the chart pattern’s formation. A breakout above the triangle’s upper trendline could signal a bullish continuation, while a breakdown may lead to bearish pressure. Increased trading volume near the apex of the triangle will likely indicate the direction of Bitcoin’s next major price move. The BTC cryptocurrency has responded to a key level which lies within the symmetrical triangle chart formation which implies an up move. This technical formation which many look for before fresh direction signals, shows the potential of Bitcoin to change direction as more…
Solana developers have proposed increasing the network’s block compute limit from 48 million to 50 million units to handle more transactions and enhance network efficiency. According to details shared on GitHub via a Solana improvement document, this incremental increase aims to improve transaction processing without compromising the network’s performance. Andrew Fitzgerald, a software developer at Anza and the proposal’s author, mentioned on X that the idea is still in draft form. This indicates that further refinements could occur before final approval. The proposal A block limit is a safeguard, ensuring that most network participants can keep pace with activity by…
Cryptocurrency analytics firm Alphractal has released its latest market assessment, focusing on Bitcoin’s Reserve Risk indicators, which are showing critical signals that could shape the market’s direction. While indicators point to potential overbought conditions, there may still be room for optimism. The report highlights a sharp increase in Moving Value of Coin Days Destroyed (MVOCDD), reflecting increased activity among long-term Bitcoin holders. This increase is indicative of intense market movement, which is usually associated with higher volatility and risk of price corrections. In addition, Reserve Risk, a key metric that assesses the balance between long-term Bitcoin holder confidence and the…
Every single ADA holder is the CEO of Cardano, according to a recent tweet from Cardano’s founder Charles Hoskinson. His statement highlights a widening gap in perspective regarding management and leadership in blockchain projects, even though it is entirely consistent with Cardano’s decentralized philosophy. For many years, Cardano has been promoted as a project that values community involvement and decentralized governance. This fundamental tenet is reflected in Hoskinson’s assertion that the network’s stakeholders hold ultimate control. In order to establish himself as a guiding visionary, Hoskinson has separated himself from Cardano’s daily operations over the years. Although this strategy supports…
Bitcoin (BTC) is approaching a $2 trillion market cap, currently at $1.89 trillion, after rising 38% in the past month and breaking new all-time highs in November. Expectations remain high as BTC price nears the $100,000 milestone, a level it is less than 5% away from reaching. While the ADX suggests the trend is weakening, the NUPL indicates that BTC is far from the “Euphoria” zone, reducing the likelihood of strong corrections. BTC’s Trend Is Losing Steam Bitcoin ADX, currently at 17.4, reflects a weakening trend compared to its value of 26 just two days ago. The ADX, or Average…
In the past hours, a shocking event has taken place in the NFT world. According to PANews, a seller sold 5 Pudgy Penguins NFTs for a mere total of 175 USDT. This incident has created a massive stir in the NFT market. The Details of the Unfortunate Sale The Pudgy Penguins project is known as one of the most popular collections in the NFT world. This collection of adorable penguin figures garners significant attention among collectors. The fact that the seller traded such a valuable asset for such a low price has left many in disbelief. Some sources suggest that…
Holders of FTX’s FTT will be allocated 0.35% of the new Pudgy Penguins token PENGU, according to the NFT project’s distribution plan. Pudgy Penguins announced the launch of PENGU early on Friday. A total of 88 billion tokens will distributed, with 17.8% allocated to the project’s team, 25.9% to NFT holders, and 12.35% to liquidity. FTT holders will receive a share of 308 million tokens. Since the announcement, FTT rose by 7.7% to $3.75 before falling back to $3.39. However, roughly 13 hours beforehand, it had climbed 40%. X user @DarkCryptoLord claims this pre-pump was a sign that “someone’s committing…
Bitcoin (BTC) has slumped back to $95,000 after coming within a few hundred dollars of passing the symbolic $100,000 price level. But the largest cryptocurrency is only catching its breath before surging to newer heights, according to investment management firm ARK Invest. “We’re more or less anticipating $104,000 to $124,000 price targets by end of year,” David Puell, one of the firm’s research associates, told CoinDesk in an interview. “With the caveat that it’s not a recommendation, but so far, price action has kept up to that projection quite nicely.” Puell’s calculus is based on bitcoin’s seasonality — a term…
In a recent interview with Indian media outlet Money Control, billionaire Tim Draper said that Bitcoin, the leading cryptocurrency, is still “cheap” despite recently approaching the $100,000 level. Draper, who is known for betting early on such groundbreaking companies as Skype, has predicted that Bitcoin could potentially become the world’s dominant currency. This will significantly reduce the demand for fiat currencies, according to the prominent investor. Even though Bitcoin’s market cap is now approaching $2 trillion, Draper has noted that the largest cryptocurrency is still relatively small compared to the global economy. In fact, Draper believes that the price of…
Per a tweet issued by the Shibburn data tracker earlier today, the Shiba Inu community has been able to propel the burn rate up to a significant level over the past 24 hours. Meanwhile, all the eyes of the SHIB community have been on the price, as it has been striving to break above the $0.000033 resistance once again this week. Burn rate jumps 2,542% The aforesaid platform revealed that over the past day, the SHIB burn rate has experienced a jump by more than 2,500%, with a total of 68,170,710 SHIB meme coins removed from the circulating supply. That…