Author: NBTC
Applications for registration as a cryptoasset exchange or custodian wallet provider have dropped by 51% over the past three years, according to data obtained through a Freedom of Information (FoI) request by global law firm Reed Smith. The Financial Conduct Authority (FCA) reported that only 29 applications were submitted between May 1, 2023, and April 30, 2024. This marks a decline from 42 applications in the previous year and 59 in the year before that. The first quarter of 2024 saw just seven applications, which is the second-lowest quarterly figure recorded in the past three years. The average time for…
Bitcoin analysts are expressing growing optimism about the cryptocurrency’s price prospects following a rebound toward a significant resistance level that previously halted its gains. After testing the 50-day simple moving average support around $63,500, bitcoin has sharply risen, surpassing $67,000 BTC/USDT on Gate.io. It is now approaching a resistance line marked by a trendline connecting the highs from March and April. This descending trendline posed a challenge on Monday and had previously been a barrier in May, proving to be a key level for bulls to overcome. Analysts suggest that this resistance might soon be breached. BTC price catalysts One…
A cryptocurrency address suspected to belong to the ARB Foundation, a non-profit organization reaching out to those struggling with depression, recently transferred a significant amount of ETH to the Binance crypto exchange, striking fears of a potential ETH dump among the crypto community. $ETH dumping?????8 hours ago, a wallet (may belong to #ARB_Foundation) deposited 60k $ETH (~$150.33M) to #Binance.Within 24 hours, he deposited totally 90k $ETH (~$226.02M) to #Binance.Address:https://t.co/zjzY3AsIo7 pic.twitter.com/qVrMTwgWgk — The Data Nerd (@OnchainDataNerd) September 1, 2024 The Data Nerd, an acclaimed onchain tracker on X, noted the wallet deposited 60,000 ETH, equivalent to $150.33 million, on Binance in…
This article analyzes Shiba Inu’s price if Bitcoin surges to $325,000 or $777,000 and Ethereum spikes to $22,000 or $100,000. As the first crypto ever created, Bitcoin (BTC) detects the trajectory of the broader crypto market. Notably, each bull run typically commences with a tremendous spike in Bitcoin’s price before the effect is reflected in other crypto assets, including Shiba Inu (SHIB). Like Bitcoin, Ethereum (ETH) also controls the market trajectory to an extent. Although Ethereum may not boast a similar market dominance like Bitcoin, it has influenced other assets’ performance, especially those within its ecosystem. Shiba Inu Correlation With…
The SEC has 39 days left to contend the court ruling on its legal battle with Ripple, as the appeals deadline approaches. While Ripple and the XRP community continue to bask in their partial well-fought victory against the US Securities and Exchange Commission (SEC), an important date remains to finally end the years-long legal battle. It is uncertain if the top regulator will appeal the August 7 partial victory or not, but it can contend the ruling on or before October 6. The Ripple legal team also has until then to appeal some parts of the rulings the SEC won.…
Popular crypto analyst Benjamin Cowen thinks macroeconomic indicators suggest altcoins will chip away against Bitcoin’s (BTC) dominance in the coming months. In a new YouTube video, Cowen points his 807,000 subscribers to the Sahm Rule Recession Indicator, which tracks signals that could indicate the start of a recession. The indicator flashes when “the three-month moving average of the national unemployment rate (U3) rises by 0.50 percentage points or more relative to its low during the previous 12 months,” according to the Federal Reserve Bank of St. Louis. The indicator hit 0.53 percentage points in July. Explains Cowen, “The point is…
Concerns have been raised regarding Ethereum exchange-traded funds (ETFs) viability in the market since their launch because of the volume at which they have been trading compared to Bitcoin ETFs. Data from Galaxy Research indicates that when taking into account Ethereum’s market capitalization and its trading volumes on centralized exchanges, the volume of Ethereum ETFs has not only fallen well short of the expected ratios, but has also lagged behind Bitcoin ETFs. This difference is shown very well in Galaxy’s chart. Ethereum ETFs have struggled to attract the same interest with their volumes, frequently falling short of expectations, while Bitcoin…
Ripple, the core developer of XRP Ledger (XRP) and its largest holder, will unlock 1 billion XRP on September 1. This is part of Ripple’s monthly unlocks from the token’s initial distribution and often precedes a price drop. At current prices, the unlock’s nominal value is $570 million, which will be partially sold in the next few days. Finbold retrieved data from XRPScan, showing the escrows from ‘Ripple (24)‘ and ‘Ripple (25)‘ that will finish after August 31. Specifically, the former will unlock 500 million XRP in a single transaction, while the latter will unlock 200 million and 300 million…
Telegram CEO Pavel Durov, a Franco-Russian billionaire, was released from police custody but has been transferred to a Paris courthouse, where he faces multiple charges, including terrorism and child abuse content. According to the AFP, Durov was moved on Wednesday, Aug. 28 to a Paris courthouse to face a possible indictment. Durov was arrested at Le Bourget airport near Paris over the weekend, accused of failing to moderate criminal content on his encrypted messaging platform. On Aug. 26, a French investigative judge extended Durov’s police custody for up to 48 hours, meaning Durov has to be released or charged with…
Peter Schiff, a well-known Bitcoin critic and an advocate for gold, recently took a jab at MicroStrategy’s Bitcoin-focused strategy. The recent remarks from Peter Schiff came as a response to a post by MicroStrategy’s Michael Saylor, which highlighted the company’s significant gains since adopting Bitcoin. Saylor’s post, shared to his 3.5 million X followers, stated that Bitcoin had empowered MicroStrategy to rise above the competition over the last four years. However, Schiff challenged this notion, warning that the same strategy could lead MicroStrategy to crash below the competition in the coming years. MicroStrategy’s Performance MicroStrategy’s decision to incorporate Bitcoin into…