Author: NBTC
After sinking roughly 30% from 2023 highs, Ethereum appears to be bouncing off from the pits of the crypto winter. Looking at candlestick arrangements in the daily and weekly charts, the coin has primary support at around $1,500 and is firm, bouncing off with decent trading volume. At spot rates, ETH is up approximately 3% following positive developments sparked by the increasing adoption of its layer-2 scaling solution and the recent news that VanEck, a player managing billions of assets, is preparing to launch an Ethereum derivatives product. ETH price on September 28| Source: ETHUSDT on Binance, TradingView Ethereum Layer-2…
In a comprehensive evaluation of global market dynamics, Bloomberg Intelligence analyst and Chartered Market Technician (CMT) Jamie Coutts has opined on the shifting sands of financial asset volatility. With bonds potentially falling out of favor and Bitcoin cementing its place as a debasement hedge, traditional portfolio models may be on the verge of a renaissance. Major Portfolio Shift Towards Bitcoin? Coutts tweeted, “It looks like we are about to see a substantial uptick in volatility across all markets, given where yields, USD, & global M2 are heading. Despite what lies ahead, there has been a big shift in the volatility…
The Ethereum price is hovering around yearly lows compared to the dominant cryptocurrency, Bitcoin. This decline, notable since September 2022, has brought ETH to trade as low as $1,594 at the time of writing. However, amid the concerns about Ethereum’s notable plunge, there are hints of a potential trend reversal, according to the latest report from crypto research firm K33 Research. Ethereum Price Declines, Underlying Reasons K33 Research, a renowned figure in the crypto analytical space, has been closely monitoring the relationship between Ethereum and Bitcoin. Their recent findings highlight a palpable drift in the market’s preferences between these two titans.…
An government order from the Biden administration may compel cloud computing firms to report extra energy utilization to the U.S. authorities, Semafor reported on Sept. 27. Primarily based on statements from nameless sources, the anticipated order would require cloud computing firms like Microsoft, Google, and Amazon to reveal when a buyer rents a certain quantity of computing energy. Semafor famous that this reporting mannequin includes treating computational energy as a nationwide useful resource. It additionally drew comparisons to different current practices, equivalent to know-your-customer insurance policies that require banks and monetary companies to observe and report transactions above a sure…
Steven Nerayoff, an active participant in Ethereum’s (ETH) Initial Coin Offering (ICO), who is believed to know where the “bodies are buried,” has made further revelations in the ongoing ETH Gate saga, which boils on whether or not the US Securities and Exchange Commission (SEC) gave Ethereum a ‘regulatory free pass.’ Lubin’s Piece Of Paper Appears In ETH Gate After being pressured by a member of the XRP community to release the dirt that he claims to have, Nerayoff released a follow-up tweet that contained transcripts from an email that Ethereum’s co-founder Joseph Lubin sent to him personally on July…
Renowned crypto analyst Rekt Capital has recently highlighted the pivotal nature of the Bitcoin price’s imminent monthly candle close. In a statement via X (formerly Twitter), he detailed that Bitcoin has tagged the $27,000 monthly level from the underside, meaning it is acting as resistance for the time being. He explained that “the upcoming monthly candle close is just around the corner. Bitcoin needs to monthly close above $27,091 for this to be a fake-breakdown. Otherwise, the breakdown will be technically confirmed.” To give this statement some historical context, the preceding month – August – saw a significant development for…
VR46 Metaverse, an organization related to nine-time MotoGP™ world champion Valentino Rossi, has introduced a collaboration with Animoca Manufacturers and Gravitaslabs. This partnership goals to discover new gaming and Web3 potentialities throughout metaverse platforms. The primary undertaking underneath this initiative is a motorsport expertise named “ValeVerse” on The Sandbox platform. ValeVerse: A New Horizon for Motorsports Followers Inside ValeVerse, gamers can take part in quests, which might result in numerous rewards. The ValeVerse Go, an integral a part of this undertaking, supplies homeowners with particular advantages. These embrace raffles for signed merchandise, race tickets, and an unique assembly with Valentino…
The Ethereum open interest has been on an upward trajectory that has culminated in it crossing the $5.2 billion mark. This surge is important to Ethereum’s native token ETH in a number of ways as it could point to how investors are viewing the cryptocurrency at this point. Ethereum Open Interest Sees Rapid Rise Data from Coinglass shows that the Ethereum open interest has risen rapidly in recent times. Over the last week, the open interest has grown, eventually crossing $5.2 billion at a time when the crypto market continues to struggle to loosen the grip of bears. One thing…
As the bear market continues to linger, several market analysts have pointed out key metrics or factors that show that the Bitcoin bull market might not be far off. This time, Bloomberg analyst Jamie Coutts has identified key Bitcoin adoption metrics that provide bullish signals to the crypto community. What Are These Key Bitcoin Metrics? In a tweet shared on his X (formerly Twitter) platform, Coutts noted that “HODLers” and transactions on the Bitcoin network were at an all-time high. According to the update he shared, the number of addresses holding more than 1 BTC is at its highest over the…
Ethereum liquid staking platforms are making waves in the decentralized finance (DeFi) ecosystem. Recent on-chain reports have revealed that liquid staking protocols have recorded a new milestone in the number of Ether (ETH) staked, reaching a staggering 12 million ETH mark in just a few days. Ethereum Liquid Staking Gains Momentum With Ethereum 2.0 thriving, liquid staking protocols in the DeFi ecosystem have been growing rapidly despite recent market volatility. Research data from DeFi TVL aggregator, Defillama, revealed on Monday, September 25, the tremendous growth of Ethereum holdings in liquid staking platforms. According to the data, the ETH in liquid…