Author: NBTC

Bitcoin’s market dynamics are showing early indications of renewed speculation in the crypto market, as reported by Glassnode. Long-Term Holders (LTH) are currently sitting on unrealized profits, with only a minuscule 0.03% in losses, signaling the onset of a potential bull market’s euphoric phase. Image: Glassnode Over the past two months, the Sell-Side Risk Ratio for both Long and Short-Term Holders has balanced out, suggesting that the market has absorbed the expected profit and loss within the current price range, setting the stage for possible significant volatility ahead. A notable shift has occurred with the spending of long-dormant coins, which…

Merlin Chain, a Layer-2 blockchain, has announced it’s working on bringing new yield opportunities for Bitcoin (BTC) traders, according to the information shared with Finbold on June 12. With its Proof-of-Stake (PoS) consensus mechanisms and a suite of innovative decentralized finance (DeFi) solutions, Merlin Chain aims to provide bitcoiners with the chance to earn staking yields and access a range of DeFi services. Enhanced yield for Bitcoin holders For years, Ethereum (ETH) investors have enjoyed various yield-generating avenues such as staking rewards, liquidity mining, and yield farming. In contrast, holding BTC has not offered similar benefits, apart from the asset’s…

The Shiba Inu community continues to relentlessly burn SHIB meme coins no matter what. This time, a substantial amount of SHIB has found its way into dead wallets despite the major decline in the key Shibarium metric. Meanwhile, the SHIB price continues its attempts to break out of the range. Millions of SHIB destroyed According to the recent update on the website of the popular burn tracker Shibburn, within the last 24 hours, the SHIB army has successfully transferred tens of millions of SHIB to unspendable blockchain addresses – 24,360,186 meme coins were locked permanently out of the circulating supply.…

FTX’s Proposed reorganization plan offers repayment, and interest, but faces criticism. Alameda Research transfers 10 million WBTC valued at $5.2 million. Two wallets associated with Alameda Research, the sister trading firm of the now-bankrupt FTX exchange, recently transferred a total of $12 million worth of cryptocurrency. On June 11, PeckShield notably reported that an Alameda Research address transferred 5,000 vBTC, worth over $2 million, to the algorithmic trading firm Wintermute. Additionally, an Alameda-related wallet transferred 10 million WBTC, valued at over $5.2 million, to Binance. #PeckShieldAlert #FTX/#Alameda labeled addresses transferred ~$12m worth of cryptos out~5 $vBTC (worth ~$7m) were transferred…

Key Points: El Salvador Bitcoin holdings have now reached 5,770 BTC and are actively adding more. President Bukele’s pro-Bitcoin policies gained public support through his re-election win despite initial skepticism. El Salvador’s strategy is attracting attention, with Argentina potentially following suit in adopting Bitcoin. El Salvador’s status as the world’s first Bitcoin adopter is solidifying. The Central American nation, a true pioneer in cryptocurrency integration, boasts a growing Bitcoin treasure, according to Bitcoin Magazine. Source: Nayib Bukele Portfolio Tracker El Salvador Bitcoin Holdings Exceeds $400 Million Mark El Salvador Bitcoin holdings currently stand at a substantial 5,770 BTC, valued at…

The latest on-chain data indicates a significant increase in XRP tokens locked within the XRPL AMMs, reaching a high of 2,272,919 XRP in the last 24 hours. Over the weekend, the XRPL experienced remarkable growth in its decentralized finance (DeFi) sector. AMM pools increased from 277 to 316, indicating rising user engagement. Concurrently, the volume of XRP locked within these pools witnessed a robust increase, going from 1.8 million to 2.15 million. Recent data from XRPScan shows a sharp increase this week. The ecosystem currently boasts 209 total assets, 203 unique tokens, and 184 XRP pairs available for trading. The…

OKX saw $204 million withdrawn in 24 hours and $633 million over the past week. The major outflows are believed to be driven by recent rumors of security breaches at OKX. OKX, one of the leading cryptocurrency exchanges, is currently facing capital outflows amid recent rumors of security breaches. Data from Defillama reveals that OKX has seen outflows of over $204 million in the past 24 hours and $633 million over the past week, surpassing the outflows of other exchanges. In contrast, Binance has enjoyed a net inflow of $1.364 billion in the past week. Centralized Exchanges (CEX) Transparency (Source:…

Tom Lee, Fundstrat Global Advisors co-founder, has defended his highly ambitious $150,000 Bitcoin price target during a recent interview with CNBC. Lee says that there are tailwinds that are associated with the recent Bitcoin halving. He has also noted that Bitcoin exchange-traded funds have experienced tremendous inflows. As reported by U.Today, these products are currently experiencing significant momentum, reaching a 15-day streak of uninterrupted inflows. BlackRock’s IBIT alone has surpassed $20 billion in total assets under management. Lee has added that institutional infrastructure around Bitcoin is only in its nascent stage. Widening ownership will be propelling the largest cryptocurrency to…

Prominent XRP community figure Chad Steingraber recently raised awareness of how the Ripple Payments (formerly ODL) partner Tranglo uses XRP for real-time transactions. Steingraber shared the update in line with Tranglo’s effort to facilitate real-time settlement systems across various countries using the Ripple Payments solution, which leverages XRP. Tranglo // #Ripple Payments Process Step 1 – Request From Tranglo to Ripple PaymentsStep 2 – Draws down request amount of #XRP ODLStep 3 – #XRP is sent to Tranglo’s Exchange accountStep 4 – Remittance PayoutStep 5 – Ripple Invoices for Payment https://t.co/yFDusgy7Ec pic.twitter.com/H4KAN5deA3 — Chad Steingraber (@ChadSteingraber) April 16, 2024 Tranglo…

Plus500 (LSE: PLUS), a global multi-asset fintech group operating proprietary technology-based trading platforms, has expanded its diverse product offering by introducing a range of Spot Bitcoin (BTC) exchange-traded funds (ETFs) for customers. It follows the landmark approval of 11 Spot BTC ETFs by the US Securities and Exchange Commission (SEC) in January 2024, which gave the green light for Bitcoin ETFs to be listed in the US with major players in the financial industry such as Grayscale, BlackRock, Fidelity, Bitwise and others. The SEC approval represents a transformative development for the cryptocurrency industry as it seeks to enhance its legitimacy…