Author: NBTC
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…
The pseudonymous social media marketing lead of the Shiba Inu developer team known as Lucie has shared her take as to what will help cryptocurrencies to stay afloat by 2026 — she believes that not all the thousands of cryptos in the market are going to make it and remain active and operational by that time. Lucie shared what she believes to be key factors that will help cryptocurrencies survive in the long term. She admitted that memes may no longer play the important role they are playing now in two years’ time. “Let’s see who’s still around in 2026″…
Hong Kong’s financial regulator launched a new sandbox initiative at testing tokenization use cases across asset classes and real-world applications in the financial sector. The Hong Kong Monetary Authority has launched its new initiative dubbed “Project Ensemble Sandbox” in a bid to double down on its tokenization efforts of real-world assets. In an Aug. 28 press release, the HKMA said the initiative aims to test and refine the use of tokenized money for interbank settlements and transactions involving tokenized assets. The sandbox is said to focus on four main themes for its initial round of experimentation: fixed income and investment…
Jean-Marie Mognetti, CEO of CoinShares, shared some thoughts on the state of the crypto industry, especially concerning Bitcoin. In an interview with Thinking Crypto, he pointed out that many crypto asset management companies have been funded heavily by venture capital, with a lot of cash being burned without much focus on profitability. He said that if a company isn’t profitable when Bitcoin is priced at $60,000, it’s hard to imagine when it will be. Mognetti explained that investors are growing tired of supporting businesses that aren’t turning a profit. Discussing the growth of the Bitcoin mining industry, Mognetti opened up…