Author: NBTC

Ethereum has had a rough week, slipping almost 6.2% in the past seven days. Most analysts have been calling for further correction, but the token has managed to steady itself. Over the past 24 hours, the Ethereum price is up a small 0.1%, trading in neutral territory. While this move alone doesn’t change much, a mix of on-chain and chart signals suggests something more interesting may be building. Short-Term Holders Step Back In One sign of renewed strength comes from short-term wallets. These are addresses that typically hold ETH for a few days or weeks before selling. After weeks of…

Saifedean Ammous, economist and author of the best-selling book The Bitcoin Standard, criticized Argentina’s President Javier Milei for his economic performance, highlighting the failed bond rollover despite one of the highest interest rates in history. Ammous believes that the country will likely default, as it owes over $40 billion to international institutions. Bitcoin Standard Author Saifedean Ammous Blasts Milei’s Economic Miracle Not everyone agrees with the so-called economic miracle that Argentina is currently experiencing due to the economic policies of President Javier Milei. Saifedean Ammous, economist and author of The Bitcoin Standard, the best-selling crypto book, took to social media…

South Korea is racing against time to regulate stablecoins. The regulators are finalizing stablecoin legislation while industry players urge faster regulatory clarity to compete globally. A seminar held on Monday at the National Assembly in Seoul gave a glimpse of the state of the industry. Regulators Push Legislation Since RedoPay, a Hong Kong company’s crypto payment service, launched in Korea last May, there has been a wide discussion in the industry that foreign-issued tokens like USDT (Tether) are already being used in everyday transactions, while domestic projects remain stalled by legal uncertainty. The seminar speakers expressed concerns that the country…

Gemini, a major US cryptocurrency exchange, has officially announced its XRP credit card, which was initially teased earlier this month. The owners of the much-hyped card can earn 4% cash back on gas, EV charging as well as public transport. It also offers 3% cash back on dining and 2% cash back on groceries. Other purchases will come with 1% cash back. That’s it? The XRP community is not impressed by the introduction of the new product, with some of its members complaining that it does not actually bring anything particularly new to the table (apart from the “XRP” logo).…

Crypto traders bought the dip in several Ethereum staking tokens on Friday, lifting the likes of lido (LDO) and ethena ENA$0.6730 up by 14% and 15%, respectively. The gains follows a week-long decline that took place alongside a rapid shift in sentiment, which is typically a signal to buy. Lido and ethena are returning to last week’s highs after an early August rally spurred by the U.S. Securities and Exchange Commission’s statement that liquid staking protocols aren’t securities. The SEC’s statement was viewed as bullish for the decentralized finance (DeFi) ecosystem, in particular for Ethereum-based protocols that depend on staking…

Investors who committed negligible amounts into XRP daily over the past decade would be sitting on massive gains today. One of the most attractive features of cryptocurrencies is their ability to transform modest investments into fortunes, especially from their earlier days. Notably, over the years, XRP has proven to be one of the assets capable of delivering on this promise, especially for those who employed a dollar cost averaging (DCA) approach. The Prospect of Investing $10 into XRP Daily for 10 Years For the uninitiated, in a dollar cost averaging investment approach, the individual commits a particular amount into the…

Exciting developments are on the horizon for the global cryptocurrency landscape, especially in Asia! South Korea is making significant strides in its approach to virtual assets. The nation’s Financial Services Commission (FSC) is actively preparing the next phase of its South Korea crypto bill, a crucial piece of legislation slated for discussion during the National Assembly’s regular session in September. What’s Next for the South Korea Crypto Bill? The announcement came directly from FSC Chairman Kim Byung-hwan. He confirmed this during the second meeting of the National Assembly’s National Policy Committee. Responding to a question from Democratic Party lawmaker Min…

With Hyperliquid’s metrics continuing to hit all-time highs, spot trading in the ecosystem, spearheaded by its tokenization layer Unit, is starting to catch up with the world’s top centralized exchanges. Over the last 24 hours, over $1.1 billion worth of uETH and $950 million of uBTC were traded on Hyperliquid, with Unit assets recording a total of $2.49 billion traded. This comes shortly after Unit processed an all-time high 24-hour volume of $3.2 billion, driven by a cluster of whale wallets that swapped more than $2 billion worth of BTC for ETH. Hyperliquid Spot Volume – Hyperliquid Unit took to…

Ethereum short traders lost hundreds of millions of dollars Friday as ETH came within inches of breaking past its all-time high price, but ultimately failed to rise to the occasion. In the last 24 hours alone, over $259 million worth of ETH short positions have been liquidated, according to data from CoinGlass. Another $80 million in long positions on the cryptocurrency have expired as well—bringing the total value of ETH liquidations in the last day to over $340 million. That figure makes up over half of all liquidations across the entire crypto market in the last 24 hours. Just north…

Expectations regarding the Fed’s interest rate policy are once again in the spotlight. Rick Rieder, CIO of BlackRock Global Fixed Income and head of the Global Allocation team, said on Fox Business that he expects the Fed to cut interest rates in September. “My guess is that the Fed will deliver a message about maintaining economic stability. However, the current data, particularly the slowdown in employment, creates a favorable environment for a rate cut,” Rieder said. Rieder stated that interest rates are currently higher than they should be, adding, “Personally, I think a faster and stronger cut is possible. Even…