Author: NBTC
Read also: ETH Price Stalls as ETF Inflows Stay Weak Ether (ETH), the second-largest cryptocurrency, has experienced a notable increase in its circulating supply recently, which could potentially influence its price based on the principle of supply and demand. Data from ultrasound.money reveals a substantial addition of 16,411.40 tokens to Ethereum’s circulating supply over the past week. On August 25th, the supply of ETH was 120,308,385, rising to 120,324,796 by September 5th. The data also indicated around 92,000 ETH burned annually. It is important to note that the total ETH tokens issued in the past week amounted to 18,175.27 ETH,…
0xPPL, an innovative social networking resource for the crypto community, has completed a major round of strategic investments targeting its capabilities. However, some notable investors, such as Peak XV Partners, Alliance DAO, and Anagram, were involved in this effort. This investment focuses on building the platform’s growth, improving the products offered, and reinforcing its position as the preferred platform for on-chain social networks. Set up in August 2022, 0xPPL’s mission is to completely change how cryptocurrency enthusiasts come around, communicate, and spread information. With this new funding, 0xPPL intends to use the funds to introduce cutting-edge technologies such as decentralized…
While the answer to the question of whether every decline in Bitcoin and altcoins is an opportunity varies from investor to investor, according to these two whales it is “yes”. According to Lookonchain and Spot on Chain’s posts, two major crypto whales made significant purchases today. One bought a significant amount of BTC, while the other bought PEPE. Accordingly, the whale, which sold $467 million worth of BTC in July and dumped the BTC price, bought 1,000 BTC (worth $59.6 million) from Binance today. “The whale that allegedly sold $467 million worth of BTC in July bought 1,000 BTC ($59.6…
Iris Energy has reported a 10% increase in bitcoin production during August 2024, with the company mining 245 bitcoin. The improvement is attributed to higher operational efficiency and reduced electricity costs following the company’s transition to spot pricing. Iris Energy’s Bitcoin Mining Efficiency Leads to Output Growth In its August 2024 investor update, Iris Energy (Nasdaq: IREN) highlighted a rise in operational hashrate to 10.94 petahash per second (PH/s), compared to 9.01 PH/s in July. The company credited the production boost to optimized electricity pricing strategies at its Childress site, which resulted in electricity costs per bitcoin dropping to $29,958…
Following a significant downtrend, Bitcoin found strong support near the $50K threshold and experienced a notable rebound. However, the price has now approached a substantial resistance region around the 200-day moving average at $61K, potentially completing a pullback. Technical Analysis By Shayan The Daily Chart A detailed examination of Bitcoin’s daily chart reveals a significant increase in buying pressure and demand near the critical $50K support region, resulting in a substantial bullish rebound. Subsequently, BTC surged back toward a key resistance region, encompassing the 200-day moving average at $61K and the psychological resistance at $60K. This key area is likely…
The nine US exchange-traded funds (ETFs) tracking the spot price of Ethereum (ETH) have been struggling to attract new capital since their strong start in late July. Outflows from the Grayscale Ethereum Trust have contributed largely to the daily negative performance, with sluggish demand for other competing ETFs also playing a role. In this article, we discuss the current challenges facing spot Ethereum ETFs, their circumstances compared to spot Bitcoin ETFs, and how they can be successful with increased institutional adoption and regulatory developments. Spot Ethereum ETF performance: a snapshot According to data from Farside Investors, Grayscale’s Ethereum fund, also…
New altcoins and meme coins have swept aside several of the coins that shone during the last bull market. But while the market anticipates new entrants such as Dogs, Sui and Mantra to pick fresh momentum, there’s likelihood that Gala (GALA) could recapture attention alongside top altcoins Ethereum, Solana and Tron. Momentum is likely after Gala Games announced integration of Google Pay and Apple Pay to bolster payment solutions available to its users. Gala integrates Google Pay and Apple Pay Gala (GALA) is a blockchain-based gaming and web3 entertainment network with GALA as the native utility token. The blockchain platform’s…
Marathon Digital is showing interest in artificial intelligence (AI) as its Bitcoin production slowed in August. On Sept. 5, the BTC miner announced the appointment of AI experts Janet George and Barbara Humpton to its board, replacing Kevin DeNuccio and Said Ouissal, who resigned on Sept. 1 as part of a planned transition. AI experts Marathon emphasized that its new appointment had strong backgrounds in AI, data centers, and energy. Their leadership and success in driving innovation in complex industries were also critical factors in their selection. According to the press statement, Humpton is the current President and CEO of…
After Bitcoin (BTC) reached an all-time high of over $73,000, investors are anticipating a possible resurgence in the rally as they aim for the coveted $100,000 mark. In this context, a crypto analyst has noted that Bitcoin is currently undergoing its third parabolic advance—a pattern that has historically led to significant price surges. According to an analysis shared by Titan of Crypto in a post on X on August 11, this parabolic advance could potentially push Bitcoin’s price to new all-time highs, possibly reaching $250,000. The analysis examines Bitcoin’s price movements over the past decade, highlighting key breakout moments followed…
The recent price momentum that we see in the Ethereum market is nothing less than exciting. Don’t you think so? Earlier today, the Ethereum price climbed above the mark of $2,400. Though it slipped below the mark later, it is still notable as a momentum worth mentioning. A crypto trading expert has something more to say about the current price momentum in Ethereum. Let’s listen to what he has to say. Ethereum Price Momentum: What Expert Thinks The post, recently shared by cryptocurrency expert Michael van de Poppe in the X platform, discusses extensively the current price momentum in the…