Author: NBTC
Experts point to election-related developments as the driving force behind Bitcoin’s recent upward trend. Avinash Shekhar, CEO and co-founder of Pi42, said that the leading cryptocurrency is approaching the $70,000 resistance level amid a mix of political factors and favorable macroeconomic conditions. “Bitcoin hits $68,700 on Kamala Harris’ support for crypto, Trump’s 60% re-election odds, low interest rates and easing fears of World War III,” Shekhar said in a statement. He added that Bitcoin bulls are targeting $72,000 in the near term, while bears are attempting to sustain a drop below $66,500. Open Interest Rises as Investors Bets on Breakout…
Ethereum (ETH) lost its three-year support against Bitcoin (BTC) as the most prominent cryptocurrency rallied towards its $100,000 target on Friday, November 22. ETH has faced sticky resistance at $3,500 for nearly four months while competitors hit record highs this cycle. Table of Contents Ethereum loses favour with institutional investors, ETF performance lacklustre Solana challenges Ethereum’s dominance, on-chain analysis Bitcoin leads cryptos with digital gold narrative Ethereum future expectations and technical analysis Strategic considerations Ethereum loses favour with institutional investors, ETF performance lacklustre Ethereum slipped to a low of 0.03187 against Bitcoin on Friday, November 22. As Bitcoin made its…
According to IntoTheBlock, perpetual swaps funding fees have spiked significantly on exchanges, reaching above 10%, with major exchanges recording up to 20% spikes. However, the current funding rate is considerably lower compared to the highs seen in the first quarter of this year, when rates reached over 60%. IntoTheBlock warned that the current increase in funding fees could indicate speculative overheating. The firm explained that it had concerns despite the current fees being lower than at the beginning of the year. Speculative heating refers to an unsustainable rapid increase in cryptocurrency market prices due to excessive speculation. Some indicators of…
While partnerships continue in the cryptocurrency sector, the latest partnership news came from the RWA sector. Popular RWA altcoin Ondo Finance (ONDO) has announced a partnership with Wellington Management, which manages over $1 trillion in assets. “Wellington Management has partnered with Ondo Finance to provide intraday redemptions for its tokenized U.S. Treasury Fund. Wellington Management, one of the world’s largest independent asset managers with over $1 trillion in assets, has partnered with Ondo Finance to bring institutional-grade infrastructure to its newly launched tokenized U.S. Treasury fund, Delta Wellington Ultra Short Treasury On-Chain Fund. This funding is part of a groundbreaking…
Coinbase, the largest cryptocurrency exchange in the United States, has been drawing attention with its listings in recent days. At this point, Coinbase, which has increased its listing speed in recent days, continues to list many expected altcoins. While the most notable of these is Floki Inu (FLOKI), Coinbase announced that it wants to list more memecoins in the coming days. Speaking to Bloomberg, Coinbase global policy chief Tom Duff Gordon said that they plan to list more smaller tokens, including memecoins. Stating that they expect more positive developments in the cryptocurrency market with Trump’s re-election, Gordon said, “Coinbase will…
This morning, River announced its Bitcoin Interest on Cash feature through which it will offer a 3.8% interest rate — paid out in bitcoin — on the dollars you leave in the custody of the platform, which is FDIC insured up to $250,000. This yield is comparable to what you’d earn in a high-yield savings account through an online bank like Ally, but again, you’re earning bitcoin with River. If you’re like me, a Bitcoin enthusiast who still likes to keep a sizable cash buffer in case of emergency, this is a pretty sweet deal. See, I have one of…
While Ethereum bulls emerged today, propelling ETH back to the $3,400 range, significant selling pressure has hindered its price ascent. Recent analysis shows that a long-standing holder of Ethereum emerged to dump a large number of ETH tokens after the asset pumped by 10% today. Market watcher Lookonchain drew attention to this development in a recent disclosure, revealing that a whale was engaging in a continuous selling spree of ETH after being inactive for nearly a decade. Today alone, the whale cashed out nearly $4.5 million worth of ETH. Details of the ETH Tokens Under Liquidation Notably, the ETH tokens…
The Federal Reserve has declared the US government’s $36 trillion debt as the biggest risk to financial stability, pushing inflation and geopolitical tensions down the list. This grim acknowledgment came after the central bank’s survey, conducted by New York Fed staff between August and October, which was included in its latest semi-annual financial stability report. While the Fed kept a stiff upper lip about the banking sector, calling it “sound and resilient,” the rest of the system doesn’t seem as solid. Hedge funds are maxing out their leverage to record levels, and households—especially those with low credit scores—are falling behind…
The official X account of the Shiba Inu ecosystem has reacted to a post from dog-themed meme coin Neiro on Ethereum (NEIRO), teasing the metaverse. In an October 29 tweet, the Neiro on Ethereum team poated a picture showing Neiro, its Shiba Inu mascot, on a virtual reality headset with the caption “NEIRO: The Future Unleashed.” Notably, the post sparked speculations among the crypto community, drawing attention from rival Shiba Inu. Shib Says Shiba Inus Ready to Conquer the Metaverse Responding to the Neiro on Ethereum post, the Shiba Inu team welcomed the project to the metaverse, stating that the…
President-elect Donald Trump has nominated Scott Bessent, a prominent hedge fund manager known for his pro-cryptocurrency stance, to serve as the next Secretary of the Treasury, multiple news outlets reported late Friday. Bessent, founder of Key Square Group, has been a significant economic adviser to Trump’s campaign and is expected to play a pivotal role in shaping the administration’s economic policies. Born in 1962 in Conway, South Carolina, Scott Bessent graduated from Yale University in 1984. He began his career in finance at Brown Brothers Harriman and later joined Kynikos Associates. In 1991, Bessent became a partner at Soros Fund…