Author: NBTC
Avalanche’s ecosystem saw a 23.5% trading volume increase in August, with ~53K traders active on the network. Trader Joe led the Avalanche ecosystem with ~$2 billion in traded volume and 27.9K active traders in August. In August, according to Flip Side, Avalanche had a significant increase in activity, with 763.7K deals across several decentralized exchanges (DEXs). This activity resulted in a huge total traded volume of $2.7 billion, representing a significant 23.5% rise over the previous month of July. Such an increase demonstrates the Avalanche ecosystem’s quick expansion and robust character. Update on @avax! 🚀 🔺In August, Avalanche recorded an…
Bitcoin price recovered above the $60,000 resistance zone. BTC is now struggling to clear the $61,200 and $61,500 resistance levels. Bitcoin started a recovery wave above the $60,000 resistance zone. The price is trading above $60,000 and the 100 hourly Simple moving average. There was a break above a connecting bearish trend line with resistance at $59,500 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might attempt a fresh increase if it settles above the $61,500 resistance zone. Bitcoin Price Builds Momentum Bitcoin price started a decent upward move above the $58,500 resistance zone.…
Ethereum (ETH) cannot be considered a deflationary cryptocurrency as its fees are too low to keep a sufficient burn rate. However, the “Ultra Sound Money” narrative vanishing is not a tragedy for the second cryptocurrency, a seasoned trader and analyst says. Ethereum (ETH) fees lowest since August 2020, data says August 2024 is the worst month for Ethereum (ETH) since the 2020 DeFi Summer in terms of network fees generated. This historical decline — an over 20x reduction since the peak — should be attributed to the migration of network activity to L2s and the introduction of blobs by ERC…
On September 1, 2024, the cryptocurrency market witnessed some notable price movements. Among the top performers was $FET, which saw an impressive bounce of 6.58%, as reported by the crypto media outlet Phoenix on their official X platform. This significant increase indicates that more people are beginning to show positive feelings towards the token $FET in the crypto market. Daily Summary on September 1, 2024$FET $STRK $RENDER $NOT $AKT $BTC $ETH $SOL $SUN $DOGS#dailysummary #DeFi #Crypto pic.twitter.com/ENUj2Tvwir — PHOENIX – Crypto News & Analytics (@pnxgrp) September 1, 2024 Following $FET, $STRK and $RENDER See Notable Gains, Up 3.82% and 3.57%…
UAE Holds Back $10B Jet Order With France In response to the detention of Telegram CEO Pavel Durov, the UAE has taken a critical decision to hold a contract to purchase fighter jets from France. The UAE foreign ministry has also requested the French government to provide consular services to Durov immediately, assisting with his release from police custody after a surprise arrest on Saturday. According to reports on August 28th, the UAE has taken further steps to make sure that Durov is being provided with consular and other assistance, supporting his release from unconventional arrest. UAE’s Relations With France…
Bitcoin’s recent ascent to become the sixth largest monetary asset globally is a significant milestone. With a market value of $1.19 trillion, Bitcoin now outpaces traditional currencies such as the British Pound and the Swiss Franc. It stands just behind Japan’s monetary assets, underscoring its growing role in the global financial landscape. This achievement highlights Bitcoin’s increasing acceptance as a credible store of value, drawing comparisons to gold and major fiat currencies. Source: Porkopolis Economics Looking ahead, Bitcoin’s price prediction for 2025 offers intriguing insights. Historical price trends suggest that Bitcoin may see a minimum price of approximately $100,655 as…
According to recent metrics, Ethereum’s onchain fees continue to stay impressively low, with the average transaction cost this weekend at just 0.00029 ETH or $0.743. Etherscan reports that even high-priority fees are under 1 gwei, sitting around 0.972 gwei as of press time. Additionally, ultrasound.money data reveals that Ethereum’s issuance rate is currently inflationary, clocking in at 0.734% per year. Ethereum’s Onchain Costs Drop Below $1 Amid Inflationary Shift Average onchain fees on the Ethereum blockchain have remained notably low, as shown by bitinfocharts.com metrics. Over the past 90 days, with just a few brief exceptions of minor spikes, the…
The head of troubled South Korean crypto lender Haru Invest was reportedly attacked with a knife in the courtroom during a fraud trial. The chief executive of South Korean crypto yield platform Haru Invest Hugo Hyungsoo Lee was attacked with a knife in the courtroom during the ongoing fraud trial against him, South Korean media outlet Digital Asset reported on Aug. 28, citing sources present at the trial. The assault reportedly occurred in the Seoul Southern District Court, where Lee was seated at the defendant’s bench. Lee had been under scrutiny since the suspension of deposits and withdrawals at Haru…
A closely followed crypto analyst says that Bitcoin (BTC) could suddenly plummet in value if one key level is lost as support. In a new video update, crypto strategist Jason Pizzino tells his 332,000 YouTube subscribers that if Bitcoin falls below $53,500, there is cause for concern that the crypto king may be flipping bearish. “We’re still in a slightly stronger stance to then test the 50% level again [at $61,422]… Is it going to be the bulls that take control, get above 50%? Or is it going to be the bears that take control and reject 50% again to…
The spot Ethereum Exchange-Traded Funds (ETFs), launched on July 23, faces dwindling inflows. This trend has started raising concerns among market participants. Beyond inflows, these ETFs are underperforming in volumes, indicating reduced investor interest. Several factors might be linked to Ethereum’s declining prices. The lack of margin availability might account for the reduced inflows into spot Ethereum ETFs. Figures Showing Lowered Interest in ETH ETF Adoption Luke Martin, a renowned crypto analyst and host of the Stacks Podcast, describes current inflows into Ethereum ETFs as “wild.” Highlighting Farside Investors’ data, Martin points out that no major flows and outflows have…