Author: NBTC
Ethereum’s (ETH) price peaked at $3,443 on Tuesday and has since witnessed a correction. It currently trades at $3,063 at press time, losing 3% of its value over the past 24 hours. With waning bullish sentiments, the Ethereum coin price risks a potential dip toward the $2,900 price level. This analysis explains why this scenario may play out in the short term. Ethereum Traders Reduce Activity A corresponding drop in trading volume has accompanied Ethereum’s price decline over the past few days. Over the past 24 hours, its trading volume has totaled $35 billion, dropping by 25%. A price drop…
The crypto markets fell after Federal Reserve Chair Jerome Powell said on Thursday that the central bank is not “in a hurry” to cut interest rates. Powell, in a recent address, stated that the U.S. Federal Reserve does not need to be “in a hurry to lower rates.” The Fed decreased its benchmark borrowing cost by a quarter percentage point last week, and traders expect it to cut rates similarly in December. Federal Reserve Chairman Powell said that the current economy has not sent any signals that require us to rush to cut interest rates. The current strong momentum of…
Hamster Kombat, a well-known game based on the Telegram platform; however, lately, its user activity and token prices have significantly declined. New reports suggest that the active account numbers have drastically reduced from a record high of 300 million in August to a mere 41 million, thereby implying an 86% decline. This drastic shift is crucial concerning its ability to maintain its user base and rank among the world’s gaming platforms. Telegram-based game Hamster Kombat has seen a drastic drop in user engagement, with active accounts plummeting from 300M in August to 41M. Its token, $HMSTR, has also dropped 76%,…
Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial. Online food deliveries are projected to grow to $1.85 trillion by 2029—and that’s good news literally for nobody, from restaurants to everyday foodies. Seriously, the web2 food delivery industry is one of the most broken things out there, a prime example of how a middleman barges in to make things harder for everyone. As it happens, this makes for a perfect use case for web3 and decentralized physical infrastructure networks, more precisely, one putting web3 at the…
Bitcoin failed to break above $70,000, and the Thinking Crypto podcast analyst connects this to the dollar currency index (DXY). The analyst identified a DXY surge over the past two months, explaining how the inverse correlation between the two influenced Bitcoin’s price. 🚨This is When Bitcoin & Altcoins Will PUMP! (Crypto Bull Run)WATCH ▶️ https://t.co/uA1AngeaTX#crypto #bitcoin #ethereum #altcoins #bullrun #xrp #solana #coinbase #base #ai #thinkingcrypto pic.twitter.com/BymifIdchV — Tony Edward (Thinking Crypto Podcast) (@ThinkingCrypto1) October 28, 2024 Despite the DXY’s significant rise since September, Bitcoin demonstrated resilience by avoiding a major decline. However, it stalled, unable to surge as many in…
Ethereum Breaks Key Resistance Levels After weeks of extended consolidation, Ethereum finally broke above the strong resistance at $2,800. This move signified the start of a bullish trend, pushing prices above the psychological level of $3,000. Ethereum peaked at approximately $3,440, demonstrating renewed investor confidence in the cryptocurrency market. ETH/USD 1-day chart – TradingView This breakout was supported by a broader market rally, including Bitcoin’s remarkable surge above $90,000. Bitcoin’s performance often serves as a market indicator, and its new ATH further fueled Ethereum’s upward momentum. The Role of Consolidation and Market Sentiment Ethereum’s price action highlights the importance of…
The FED, which started the interest rate reduction cycle with a 50 basis point cut in September, cut rates by 25 basis points in November. As the FED prepares to announce its final interest rate decision for 2024 in December, expectations for a rate cut have diminished. In a statement yesterday, FED Chairman Jerome Powell said that there should be no rush to lower interest rates. Following Powell, Boston FED President Susan Collins also made warm statements. Speaking to the Wall Street Journal, Collins said another rate cut was on the table in December, but that the decision to cut…
The Cardano Foundation is inking strategic partnerships with different industry giants. The protocol is pushing for decentralization in a pioneering move in Web3. The Swiss-based non-profit Cardano Foundation works to promote Cardano adoption as a public digital infrastructure of the future. The Foundation recently showcased Cardono’s utility across several industries to solve some pain points. Cardano Solving Real-World Issues The Cardano Foundation posted a thread on the X platform describing several case studies of public infrastructure utilizing the blockchain. For instance, the Foundation collaborated with Georgia’s National Wine Agency, the Bolnisi Winemakers Association, and Scantrust to develop the Georgian Wine…
The Blockchain for Good Alliance (BGA), a blockchain technology platform, recently hosted the Web3 Oscar event in Bangkok. Bringing together industry leaders, Web3 Oscars celebrated blockchain projects driving meaningful real-world change in alignment with the United Nations’ 17 Sustainable Development Goals (SDGs). 🌟 This is just the beginning of our journey 🌟Relive the magic of #BGAWeb3Oscar where innovators from across the globe united in Bangkok to reshape the future of blockchain for social good. ✨Thank you to everyone who made history with us – from speakers to judges to our… pic.twitter.com/5UyOGIqYE1 — Blockchain for Good Alliance (BGA) (@ChainforGood) November 13,…
Doctor Profit has made a bold prediction about Bitcoin’s future. He anticipates that Bitcoin will continue its sideways movement for another 43 days. This follows a lengthy period of stagnation that began in March, lasting 191 days. During this time, Bitcoin has fluctuated within a defined range, leading to emotional swings among traders. Market Interest Grows as Bitcoin Hovers Near 68k Back in March, a lot of people believed that Bitcoin would rise as soon as it got near 70k. However, this has not come to pass but Doctor Profit cautioned that it might take many years of sideways movement…