Author: NBTC
Bitcoin traders are bracing for increased volatility as the U.S. election nears on Nov. 5, with estimates for price swings as high as 20%, according to data from DeFi derivatives platform Derive. “The latest trading analysis reveals some compelling insights into market dynamics as we approach significant financial events,” Derive founder Nick Forster told Decrypt on Monday. The data shows a high concentration of bets around an $80,000 Bitcoin strike price and a strong presence of short-term call sales, as traders use option premiums to prepare for possible price movements. Bitcoin briefly broke above $70,000 on Monday, hitting a level…
The ZKsync community has approved the ZKsync Ignite Program, which will distribute 325 million ZK tokens to establish a DeFi liquidity hub on the ZKsync Era network. The program aims to enhance the total value locked (TVL) of ZKsync Era’s DeFi sector and improve liquidity across all interoperable chains within its Elastic Chain ecosystem. “The goal of the Ignite Program is to establish a robust, unified source of liquidity on ZKsync Era in service of builders and users across the Elastic Chain who can access this liquidity via native interoperability,” according to the proposal. As part of the program, 300…
The Ethereum Foundation makes another DAI purchase by offloading 100 ETH on Nov. 12. This is the first time the protocol has sold ETH since releasing its annual report. According to data from analytics platform SpotOnChain, on Nov. 12, the Ethereum Foundation offloaded 100 ETH (ETH) from its holdings and swapped it for the stable coin DAI. From the purchase, the protocol gained 334,315.7 DAI tokens. This marks the first time the blockchain has made an ETH sale since Nov. 8, when it released its annual report for 2024. This transaction followed a sale of 100 ETH for 270,800 DAI…
Recently, Phoenix Group published the list of the most active crypto projects for the last six months based on GitHub. Leading the list is Internet Computer (ICP), but names such as Bitcoin (BTC) and PancakeSwap (CAKE) are also on the list owing to their continued development activities. THE MOST ACTIVE CRYPTOS BASED ON THE #GITHUB DATA FOR 6 MONTHS $ICP $SUSHI $LINK $BTC $MINA $ATOM $STORJ $RBC $CAKE $NEAR pic.twitter.com/HbM8m59Wr1 — PHOENIX – Crypto News & Analytics (@pnxgrp) November 6, 2024 Internet Computer (ICP) Leads the Way Cryptocurrency is a very dynamic industry where project advancement is one of the…
The US government is seeking control of a crypto account linked to Sam Bankman-Fried, which was allegedly used to bribe Chinese officials before FTX’s collapse in 2022. According to a court filing today in New York, the account is currently valued at $18.5 million. The account’s valuation has increased by nearly $10 million since December 2023 due to the ongoing bull market this year. Prosecutors are Ramping Up Efforts to Seize Sam Bankman-Friend’s Frozen Assets The account reportedly contains Solana, Cardano, Ripple, Internet Computer, and Avalanche. Solana’s value surged nearly 300% in the past year, contributing significantly to the account’s…
Will Bitcoin revisit its record high before Election Day? Key Takeaways Bitcoin’s recent price surge to $71,000 is closely linked to substantial inflows into Bitcoin ETFs. Despite market fluctuations, Bitcoin maintains a strong recovery momentum. Bitcoin has rallied over 5% to $71,500 and is now within striking distance of its all-time high of $73,700. The surge comes as the US presidential election is just days away. According to data from CoinGecko, the largest crypto asset by market cap broke the $70,000 price level on Monday after a minor correction last week, mostly driven by the escalating conflict in the Middle…
World Liberty Financial (WLFI), a project inspired by Donald Trump’s vision of financial independence, has announced its adoption of Chainlink’s infrastructure. The partnership with Chainlink aims to establish WLFI as a reliable, secure DeFi platform focused on promoting USD-backed stablecoins and safeguarding the dollar’s role as the global reserve currency. However, amid these ambitious goals, the project faces significant skepticism from crypto investors and a challenging launch marked by technical setbacks. Chainlink Adoption for Enhanced Security and Interoperability According to a press release shared with BeInCrypto, World Liberty Financial’s decision to leverage Chainlink technology centers on its use of Chainlink’s…
The cryptocurrency market has seen a strong uptrend following President Trump’s election, with Ethereum experiencing a significant surge as buyers take control. However, the market now appears ready for a correction phase to allow consolidation before further gains. Technical Analysis By Shayan The Daily Chart The influx of new participants and investors on the daily chart has led to an impulsive uptrend, driving Ethereum’s price above the 100-day and 200-day moving averages. This momentum led to a decisive break above both the 200-day MA at $2.9K and the psychological $3K resistance level, a clear indicator of a bullish shift as…
Media personality Ben Armstrong, known as BitBoy, has recently shared his views on how the XRP price could react if Donald Trump fires the SEC Chairman Gary Gensler. During his presidential campaign, the pro-crypto Trump stated that he would oust the infamous SEC chairman from his position on the first day of his presidency. Following the U.S. elections on Tuesday, Trump secured the presidential seat. Interestingly, the crypto market is already feeling the significance of Trump’s victory. Bitcoin has surged, surpassing previous resistance levels and hitting new all-time highs. The leading cryptocurrency cracked the $75K mark early Wednesday morning and…
Preliminary results of the U.S. Congressional elections show that more than 250 candidates who support the digital asset sector have made it into the new legislature. As FOX Business reports, the elections were held simultaneously with the presidential election, won by Donald Trump. Journalists note that representatives of the digital asset industry donated more than $200 million to pro-cryptocurrency candidates, which is a record amount. Some crypto supporters could bypass experienced legislators who have been in Congress for many years. For example, in Ohio, Republican Bernie Moreno defeated Democrat Sherrod Brown, who had been in Congress for 18 years. In…