Author: NBTC
Bitcoin (BTC), the world’s largest digital asset, has a major support at the $62K price level as per the data provided by UTXO Realized Price Distribution (URPD), and it is imperative for the leading cryptocurrency to hold above this price region. As per a post by technical analyst @ali_charts on social media platform X (formerly known as Twitter), if Bitcoin holds above $62,000 and breaks above the $66,250 price level, the bull run will resume. However, if the digital asset fails to hold above $62,000, it might retest the nearest major support at $51,500, which is another major demand area…
RippleX developers have unveiled a game-changing proposal that intends to introduce a native lending protocol, codenamed XLS-66d. The new proposal lays the groundwork for deploying a groundbreaking lending protocol directly on XRP Ledger, which is intended to revolutionize how lending takes place on the blockchain. XLS-66d lays the foundation for a robust, decentralized lending protocol native to the #XRPLedger.Highlights include:✅ Simplicity & direct lending✅ Protocol-native approach✅ Modular & flexible designLearn more: https://t.co/UKkcX23Usu — RippleX (@RippleXDev) May 1, 2024 The proposal establishes mechanisms for fixed-term, interest-accruing loans pooled from collective funds that do not require on-chain collateral. This strategy secures the…
Bitcoin, the world’s largest cryptocurrency, is trying to regain momentum after a weekend crash that wiped out more than 10% of its value. The sharp and sudden drop on Saturday came right after the news that Iran had launched an unprecedented attack on Israel. “It still hasn’t recovered from that sharp pullback,” Bitwise president Teddy Fusaro told Fortune. “It was the only asset that could be traded in financial markets at the time, which is one of Bitcoin’s unique strengths,” Fusaro said, “but it also makes it susceptible to fluctuations in price over the weekend because it was the only…
Binance on Wednesday burned 1.4 billion Terra Luna Classic (LUNC) tokens in its 21st batch of the LUNC burn mechanism. After the latest burn by Binance, the total LUNC burned by the crypto exchange to date has now surpassed over 57 billion. The total LUNC tokens burned by the Terra Luna Classic community has reached over 112 billion. Binance has continued supporting the community for Terra Luna Classic revival since 2022 via its monthly LUNC burn mechanism. Crypto exchange Binance sent 4.17 billion Terra Luna Classic (LUNC) tokens to the burn address, as per the LUNC burn transaction on May…
With the approval of Bitcoin Spot ETFs, there are large outflows from Grayscale’s GBTC product, which attracts attention with its high fee, and intense inflows to BlackRock’s more reasonable Bitcoin Spot ETF product, IBIT. The outflows from Grayscale’s GBTC product, which previously operated as a trust, are evaluated in favor of the bear by the market, and the date when IBIT’s assets will surpass GBTC is eagerly awaited. Fund inflows and outflows of the two products are closely monitored by crypto money followers, and whether the market is on the bear or bull side is evaluated according to this metric.…
In a move that has caught the attention of crypto enthusiasts and investors alike, a substantial sum of Chainlink (LINK) has changed hands, amounting to over $50 million, according to a recent tweet by Whale Alert. The transaction, involving over 3.7 million LINK tokens, underscores a significant shift in ownership within the LINK ecosystem. 🚨 🚨 🚨 3,788,969 #LINK (50,490,974 USD) transferred from unknown wallet to unknown wallethttps://t.co/LnKTnH6XAL — Whale Alert (@whale_alert) May 2, 2024 The tweet, issued by Whale Alert, a popular X account known for tracking large crypto transactions, stated that over 3.7 million LINK tokens worth over…
Bitcoin’s next quadrennial halving is imminent – now likely to happen Friday or early Saturday. But a large number of the 15-year-old blockchain’s developers and users are turning their attention to an event that’s expected to take place immediately following the halving: the launch of Casey Rodarmor’s Runes protocol. Rodarmor’s big project release last year – the Ordinals protocol for creating NFT-like “inscriptions” on Bitcoin – brought a fresh spirit of playfulness and development vigor to the notoriously conservative blockchain’s ecosystem, while showering crypto miners with a cumulative $256 million in revenue. (The popularity of the transactions caused knotty problems…
Kusama, Polkadot’s canary network, recently marked a significant milestone by selling its inaugural batch of Agile Coretime. Reports revealed that three cores were sold for a total of 70 KSM, worth approximately $1,980—each core was sold at an average price of 23.4 KSM, roughly $660. Coretime allows developers to buy up to 4 weeks or 28 days of uninterrupted blockspace for their app chains. Alice und Bob, a Polkadot enthusiast, explained that more cores will become available as the traditional auction model stops and more parachains transition to coretime. Echoing these sentiments, Parity Technologies, developers of the Polkadot blockchain, expressed…
Macro expert Lyn Alden says conditions are favorable for Bitcoin (BTC) to land a $100,000 price tag or more. In a new Blockcworks Macro interview, Alden says BTC is witnessing a supply shock as the majority of long-term Bitcoin holders are not yet ready to let go of their stacks at current prices. According to Alden, the constrained BTC supply coupled with rising global liquidity is proving to be a solid setup for Bitcoin to rally to the six-figure mark in the coming months. “For Bitcoin, most indicators that I track point to being fairly midcycle in terms of the…
The launch of cryptocurrency ETFs in Hong Kong appears imminent, a move that could spur the adoption of such funds across Asia. This development comes as HashKey Capital and Bosera International announced on Monday that they have received approval from the Hong Kong Securities and Futures Commission to offer crypto-related asset management services. Michael Silberberg, director of investor relations at Alt Tab Capital, believes the Hong Kong initiative will likely attract more institutional investors, leading to increased liquidity and better price discovery. “As other countries observe Hong Kong’s approach, it will likely encourage similar regulatory frameworks around the world, further…