Author: NBTC
Bitcoin is currently trading at $104,514, supported by a market capitalization of $2.07 trillion and a 24-hour trading volume of $26.48 billion. Its intraday price has fluctuated within a tight band between $103,133 and $104,841, signaling a period of short-term consolidation following a recent bullish rally. Bitcoin The hourly chart reveals that bitcoin has entered a choppy sideways range after peaking at $104,985. A sharp rejection from this level was followed by a bounce off the $103,000 support line, indicating active short-term demand. Despite this, the declining volume on red candles after the breakout suggests a weakening bullish momentum. Entry…
0x, a decentralized exchange infrastructure firm, announced the acquisition of rival Flood, a move the firm says will help it compete in the hyper competitive aggregation market. Decentralized exchanges — or DEXs — are a cornerstone of the DeFi ecosystem. They let blockchain users swap between assets without the need for an intermediary or middleman such as a centralized exchange. Aggregators like 0x’s act as a one-stop-shop for traders, searching all the DEXs out there to find the one that offers the most cost-efficient trades, for a small fee. Competition is fierce and often exists on razor-thin margins. It was…
With Ethereum conquering a three-month peak, recent analysis has highlighted changing social sentiments and near-term price outlook. Ethereum, the second-largest cryptocurrency by market cap, has stunned bears lately with its recovery. It has surged 6% and 42% in the past 24 hours and seven days, outperforming most high caliber assets in these timeframes. Interestingly, the rally is a contrarian play considering the recent prevalent bearish sentiments around the Ethereum ecosystem. Meanwhile, an analysis from the intelligence platform Santiment highlighted what things looked like sentiment-wise and possible price action. Noise Around Ethereum Tuning Down Ethereum’s poor start to the year has…
The United Arab Emirates (UAE) has announced a plan to invest $1.4 trillion into the United States over the next decade. This significant commitment, one of the largest foreign investments in US history, followed a high-level meeting between UAE President Mohammed bin Zayed Al Nahyan and US President Donald Trump. The funds will focus heavily on critical sectors such as artificial intelligence, semiconductors, and energy infrastructure, driving growth across American manufacturing and technological industries. Decade-Long Strategy for US Economic and Tech Advancement This $1.4 trillion investment by the UAE is not structured as a single transaction but as a decade-long…
Cryptocurrency analyst The DeFi Investor has shared his weekly watchlist highlighting the upcoming major developments. The prominent projects and dates this week are as follows: Ethereum (ETH): Ethereum’s highly anticipated Pectra upgrade will go live on May 7. The upgrade aims to improve the network’s performance and user experience. Sonic (S): The Sonic Summit event will begin on May 6. This summit could be important in terms of the project’s roadmap and ecosystem plans. Polkadot (DOT): Polkadot will soon launch the Polkadot app, which will allow users to stake, shop, and save from a single app. Hyperliquid (HYPE): The project’s…
Wall Street’s future is barreling toward the blockchain as a top SEC insider champions tokenization, signaling a transformative leap that could revolutionize financial markets forever. Tokenized Wall Street? SEC Insider Signals Massive Blockchain Shakeup Is Coming U.S. Securities and Exchange Commission (SEC) Commissioner Hester Peirce, speaking at the Crypto Task Force’s fourth roundtable in Washington D.C. on May 12, addressed the challenges and opportunities presented by the tokenization of traditional financial assets. Peirce, who leads the task force, said in her opening remarks that blockchain innovations fall within the SEC’s jurisdiction when used in traditional markets. She opined: Tokenization fits…
Inabit, a provider of secure cryptocurrency management solutions, has announced a collaboration with Google Cloud to enhance security for cryptocurrency transactions and digital asset management. This partnership will leverage Google Cloud’s Confidential Computing platform to create secure environments where cryptocurrency private keys remain encrypted and inaccessible, even during active use. The collaboration comes in response to recent high-profile security breaches, such as the July 2023 Multichain incident, which highlighted the need for robust private-key management solutions. By integrating its proprietary Trusted Computing Mechanism (TCM) with Google Cloud’s Confidential Space, inabit aims to eliminate vulnerabilities associated with traditional custodial solutions. The…
Bitcoin kicked off the second week of May with a powerful continuation move, breaking through key resistance levels and climbing to fresh local highs. While the rally has been rapid, and the current technical signals suggest there’s still gas left in the tank, caution is still warranted. The Daily Chart On the daily timeframe, BTC has pushed decisively above the $100K resistance and is now hovering around the $104K mark. This breakout marks a clear escape from the month-long compression between the rising trendline and the 100 and 200-day moving averages. The price has reclaimed both the moving averages around…
After dYdX’s headline-making departure from Ethereum’s layer-2 ecosystem to its own standalone Cosmos-based chain, the crypto derivatives giant has been on a mission to prove that app-specific blockchains are the future. Speaking to Cryptopolitan in an exclusive interview, Charles d’Haussy, CEO of the dYdX Foundation, was characteristically bullish not just on dYdX’s new trajectory, but on DeFi’s coming resurgence and Ethereum’s enduring dominance. D’Haussy laid out a map for both the DeFi landscape and crypto markets over the coming months. He forecasts Bitcoin to hit $150,000 and Ethereum to reach $5,000 by October 2025. He even highlighted the accelerating role…
⚈ Ethereum open interest surged 80% since April, hitting a three-month high.⚈ ETH price climbed 76%, aligning with increased speculative activity and open positions.⚈ Technical analysis suggests a breakout toward $2,739 if bullish momentum continues. Ethereum’s (ETH) open interest, a measure of open derivatives positions at any given time, reached a 3-month high on May 13, signalling strong confidence that the present rally will continue. The total amount of derivatives positions open on the day was 17.05 billion, the highest it has been since February 2, and worth a total of roughly $32.68 billion, per data Finbold retrieved from cryptocurrency…