Author: NBTC

Bitcoin has had an eventful week, gaining by over 5% to trade above the $26,000 price. Even following the release of the US Consumer Price Index, which showed an inflation rise of 0.6%, the premier cryptocurrency remained resilient with little to no price drops. As BTC now hovers around the $26,500 price mark, market analysts and crypto enthusiasts continue to speculate on the token’s next movement.  Notably, co-founders of market intelligence platform Glassnode Jan Happel and Yan Allemann have plotted a possible path through which Bitcoin may return to $30,000 in the coming weeks. Bitcoin’s Road To $30,000 Marked By…

Since its inception, Ethereum has continuously been compared to Bitcoin with the former being hailed as a better option to the latter in some cases. As the years have flown by, the competition has gotten even fiercer, especially with ETH growing rapidly. Eventually, Ethereum seems to be catching up with Bitcoin, especially in terms of active addresses. Ethereum Active Addresses Surpass Bitcoin On Thursday, September 14, on-chain data tracker Santiment revealed a surprising update on the fierce rivalry between Bitcoin and Ethereum. In the X post, the tracker revealed that the number of unique addresses that were transaction on the…

One year has passed since the Ethereum (ETH) Merge, which marked the integration of Ethereum’s proof-of-stake (PoS) Beacon Chain with the Ethereum Mainnet.  This significant milestone facilitated the transition of the Ethereum blockchain from the legacy proof-of-work (PoW) system to a PoS model, giving rise to Ethereum 2.0. The completion of the Merge on September 15, 2022, brought about a major shift in Ethereum’s energy consumption, with an expected reduction of 99.95%. Additionally, this transition opened up new possibilities for scaling the Ethereum ecosystem. The merge involved migrating the entire blockchain to new PoS validator nodes, which require participants to…

Coinbase CEO Brian Armstrong says the U.S. Commodity Futures Buying and selling Fee (CFTC) shouldn’t be issuing warnings towards decentralized finance (DeFi) protocols. Final week, the CFTC introduced that it charged DeFi protocols ZeroEx, Opyn and Deridex for providing unlawful derivatives buying and selling. The regulator says it additionally ordered the three companies to pay financial penalties and to stop and desist from violating the Commodity Alternate Act (CEA) and different CFTC rules. Armstrong, nonetheless, argues that these tasks should not monetary companies companies and says “it’s extremely unlikely the Commodity Alternate Act even applies to them.” “My hope is these DeFi…

Ethereum Core Developers have officially approved EIP-7514 for inclusion in the upcoming Dencun upgrade which is slated for late 2023. This Ethereum Improvement Proposal (EIP) primarily aims to decelerate the growth rate of ETH staking, thereby providing the Ethereum community additional time to craft an improved validator reward scheme. The main modification brought by this EIP is setting the Max Epoch Churn Limit, the validator activation queue upper limit, to a constant value of 8. Previously, the churn limit was calculated by taking “The total number of validators/65536,” which at present equates to about 12/epoch. The decision followed an Ethereum…

In recent days, Bitcoin has shown signs of a potential reversal, with the cryptocurrency charting three consecutive green daily candles. The last time such a pattern was observed was early July and between mid and late June, when Bitcoin rallied from just under $25,000 to over $31,000. This shift in price dynamics has led to a change in market sentiment, with the bearish outlook slowly giving way to a more bullish perspective. While Bitcoin has successfully averted the confirmation of a double top on the 1-week chart fo the moment, this price action has fueled discussions among analysts about the…

Data shows the Ethereum leverage ratio has been going up recently, something that may lead to higher volatility for the asset’s price. Ethereum Estimated Leverage Ratio Has Risen To 23% Now As explained by an analyst in a CryptoQuant Quicktake post, the Ethereum leverage ratio is pointing at increased risk in the market. The “estimated leverage ratio” (ELR) refers to the ratio between the Ethereum open interest and derivative exchange reserve. The former of these, the “open interest,” keeps track of the total amount of positions that are currently open in the ETH futures market, while the latter metric, the…

Despite the less-than-impressive performance over the last few months, Bitcoin investors are still digging their heels deeper into the digital asset. This is evidenced by the continuous rise in wallet activity that has been recorded during this time. Bitcoin Wallet Activity Hits Highest In 5 Months In a Tuesday post, on-chain data aggregator Santiment revealed that there has been a significant uptick in Bitcoin wallet activity despite the BTC price downtrend. Apparently, while the market had fluctuated heavily due to regulatory uncertainties, Bitcoin investors held their own, especially in terms of new wallet address activity. The Santiment reports show fluctuations…

Bitcoin (BTC) soared by over 5% on Tuesday to trade above $26,000 for the first time this week. A major contributor to this price rise was an increase in positive sentiment around the token as a result of Franklin Templeton, a $1.45 trillion asset manager, filing for a spot bitcoin ETF with the US Securities and Exchange Commission (SEC) However, as the market euphoria dies down, the premier cryptocurrency has experienced some market recorrection, with many investors now speculating on the token’s next movement. On this note, popular crypto analyst Ali Martinez has discovered a buy signal for BTC investors.…

CertiK, a agency specializing in blockchain and good contract safety, has introduced the discharge of a brand new SkyInsights instrument to handle the rising wants associated to crypto compliance and danger administration within the Web3 business. The platform, SkyInsights, makes use of CertiK’s in depth databases to supply enriched danger insights, involving greater than two billion pockets addresses and good contract labels throughout over 150 various classes. These knowledge factors are supposed to permit companies with digital asset publicity an enhanced view of transaction and counterparty dangers. As a part of CertiK’s providers, SkyInsights presents pockets screening capabilities and intends to…