Author: NBTC

Two years ago, Non-fungible tokens (NFTs) captivated the world with skyrocketing prices and mainstream attention, but then the market snapped back and many said that NFTs were “dead.” They spoke too soon. This technology continues to proliferate on a global scale, reshaping entire industries. Even with the NFT market reaching sales volumes of nearly 200,000 NFTs worth over $191 million per day it’s easy to dismiss them as Internet culture toys due to headline grabbing projects like CryptoPunks and Bored Apes. You’re reading Crypto Long & Short, our weekly newsletter featuring insights, news and analysis for the professional investor. Sign…

Ethereum price started a recovery wave from the $3,230 zone. ETH climbed above $3,350, but it now faces strong resistance at $3,420. Ethereum started an upside correction from the $3,240 support zone. The price is trading below $3,420 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance near $3,410 on the hourly chart of ETH/USD (data feed via Kraken). The pair must clear the $3,420 and $3,450 resistance levels to continue higher. Ethereum Price Eyes Recovery Ethereum price extended losses and traded below the $3,350 zone. ETH even tested the $3,240 support zone…

The trading volume of derivatives on Cardano (ADA) has shot up by a whopping 170% in just 24 hours, according to data from CoinGlass. This surge has propelled perpetual futures on the Cardano token to over half a billion dollars in trading volume during the same period. At the same time, data from CoinMarketCap shows that there has been a 117.88% increase in ADA trading volume on spot markets across various exchanges, with a total of $554.9 million traded. When you combine both spot and derivatives markets, the total trading volume of the Cardano token has reached a remarkable $1.09…

Australian cryptocurrency company NGS Crypto has rebranded itself as “Hiddup” amid an ongoing investigation by the Australian Securities and Investments Commission (ASIC). The investigation involves allegations of $41 million being stolen from investors. When NGS Crypto announced the rebrand, it mentioned “trademark dispute” as the reason. Meanwhile, the ASIC aims to recover millions in interest owed. Its lawsuit targets NGS Crypto Pty Ltd, NGS Digital Pty Ltd, and NGS Group Ltd, all of which have entered liquidation. ASIC alleges that NGS Crypto and its related entities violated Australian regulations by offering financial services without proper licensing. They reportedly encouraged Australians…

Prominent crypto exchange Bitrue continues to promote investment in XRP despite the downturn witnessed across the broader market. The exchange issued its latest XRP endorsement in a tweet today. Bitrue encouraged investors who are uncertain about which cryptocurrency to invest in to commit their capital to XRP completely. “When in doubt, go all-in #XRP,” the exchange remarked in an X post today. Interestingly, Bitrue attached a rocket emoji to the tweet, suggesting that XRP could be primed for a significant rally. XRP Enthusiasts React Expectedly, the post elicited mixed reactions among XRP enthusiasts, with many characterizing the tweet as a…

PancakeSwap, a decentralized exchange, has unveiled its AI-powered prediction market on the Arbitrum network. It is driven by the Allora Network’s artificial intelligence model. Integrating Allora’s advanced machine learning models, PancakeSwap now offers predictive capabilities previously unseen in the platform. How PancakeSwap Leverages Allora Labs’ AI Model Over the last three years, Allora Labs (previously known as Upshot) has developed models that forecast prices for over 400 million assets. This expertise is now available to PancakeSwap users, combining AI-driven insights with an active trading environment. “We’re excited to integrate Allora’s AI models into our prediction market. Now our users can…

The digital realm of collectibles is witnessing a revolutionary shift with the entry of “Solo Leveling: Unlimited,” a new NFT platform derived from the immensely popular South Korean web novel and webtoon, Solo Leveling. This platform, developed by Singapore-based Web3 specialist OtherWorld, is set to make its debut on the Avalanche blockchain, marking a significant advancement in the integration of entertainment and blockchain technology. “Solo Leveling: Unlimited” is not just another digital collectibles platform. It stands out by leveraging a custom Layer-1 network developed specifically on Avalanche, allowing for gasless transactions—a feature that not only enhances user experience but also…

Ethereum’s TVL surged to $59.697 billion, surpassing Bitcoin. Ethereum’s price rose 25% to $3,974, nearing resistance at $3,780. Bullish indicators persist with a 50-day EMA support, but the MACD suggests caution. In the face of recent downward momentum, Ethereum (ETH) continues to hold above its 50-day and 200-day moving averages, indicating a sustained uptrend. Last month, Ethereum experienced a notable 11.04% decline, yet it saw a remarkable increase in trading volume. However, its market capitalization fell by 5.27% within the past 24 hours. Meanwhile, the Ethereum blockchain has shown a notable increase in its total value locked (TVL). Over the…

Recently an investor bought 135 million $GME tokens in a single transaction with 12,110 $SOL or approximately $2 million at $0.0148. This big purchase has now moved to an unrealized gain of $1.4 million. As a result, it makes the investor the number four holder of $GME, according to Lookonchain. This guy who spent 12,110 $SOL($2M) to buy 135M $GME in one trade now has an unrealized profit of $1.4M!https://t.co/mI0bu2Yfx4 pic.twitter.com/aW3qrpzBDF — Lookonchain (@lookonchain) June 7, 2024 $GME Acquisition Highlights Crypto Market Volatility The deal was made on June 4, at a rate of $0.0148 per $GME. As a result,…

The Central Bank of the UAE (CBUAE) has issued the Sandbox Conditions Regulation, which aims to attract start-ups and global fintech businesses and create an attractive environment for the financial sector that supports creativity and innovation within a regulatory and supervisory framework. Also Read: UAE Central Bank piloting CBDC with UAE Commercial Banks and payment processors This includes Fintech institutions adopting enabling technologies such as Blockchain, DLT, AI, machine learning, and others. The regulation, published in UAE’s official Gazette, has come into effect and includes guidelines for Financial Institutions Adopting Enabling Technologies such as DLT and blockchain. In the rule…