Author: NBTC
Crypto market cap surges to $2.08T, with Bitcoin reclaiming $61,000 for a short period of time. Ethereum price rose to $2,600. Technical analysis and ETF flows present mixed signals for ETH’s short-term outlook. Ethereum finds itself at a critical juncture as the broader cryptocurrency market experiences a resurgence, with the total market capitalization dropping to $2.08 trillion from $2.14 trillion. This drop has pulled Bitcoin back above and below the $58,000 level from the $61,000 mark. Ethereum has followed suit with a gain, accompanied by a drop shortly after. The second-largest cryptocurrency by market cap has been trading within a…
Crypto index fund manager Bitwise is set to acquire the assets of its rival, Osprey Bitcoin Trust. Bitwise, the largest crypto index fund manager in the U.S., announced in a press release on Aug. 27 that it has entered into an asset purchase agreement with Osprey Funds to acquire the assets of the Osprey Bitcoin Trust. While the financial details of the transaction were not disclosed, OBTC unitholders under the terms of the deal will receive BITB shares in a liquidating distribution, with no changes expected for existing BITB holders. According to data from Osprey Funds’ official website, the trust…
In a significant move that has intrigued the cryptocurrency community, major whale activity was observed as 1.28 trillion PEPE tokens exited Binance. This large transaction was reported by Whale Alert, a prominent blockchain tracker that monitors substantial crypto transfers. The transaction involved a colossal 1,286,733,285,955 PEPE tokens, valued at approximately $14,745,963, moving from Binance to an unknown wallet. 🚨 1,286,733,285,955 #PEPE (14,745,963 USD) transferred from #Binance to unknown wallethttps://t.co/EXqp5mJh4K — Whale Alert (@whale_alert) July 2, 2024 However, upon closer scrutiny, a detail emerged that added an interesting layer to the narrative. Data from Etherscan suggests that the recipient was none…
Aura Network officially announces the strategic integration with SubWallet, one of the non-custodial wallets with millions of active users on Polkadot and Ethereum networks. The cooperation is expected to boost the infrastructure development for programmable IP services on both networks. Aura Network x SubWallet Partnership announcementWe’re thrilled to announce that Aura Network has officially integrated @subwalletapp, a pioneer non-custodial wallet with millions of users that supports both the Polkadot and Ethereum ecosystems.The partnership with SubWallet… pic.twitter.com/wBaHjqQesV — Aura Network (@AuraNetworkHQ) August 28, 2024 Aura Network Aims to Enhance Cross-Chain Transactions Through this Partnership This partnership allows the Aura Network users…
The price of Bitcoin (BTC) is in a bullish correction mode, a twist that might not last long. This is because some macroeconomic events are now weighing on the coin. If unguarded, Bitcoin long traders might face massive liquidation as a short-term reaction to uncertain economic trends. Bitcoin (BTC) Price and Impact on Altcoin Bitcoin (BTC) price at the time of writing was trading at $59,326.10, up by 1.32% in 24 hours. The coin recovered from its 24-hour low of $57,690.65 as traders resisted heightened volatile selloffs. According to market analyst @Seth_fin on X, Bitcoin has seen its dominance shift…
Ethereum, the second largest cryptocurrency by market cap has been experiencing a prolonged period of price correction, leaving investors and traders questioning when the crypto asset will regain its upward momentum. As a result, an analyst from CryptoQuant has analyzed ETH’s on-chain metric and is now suggesting that Ethereum might be nearing the end of this correction phase, potentially setting the stage for a bullish turn. Metrics Signalling End Of The Slump According to the post by the CryptoQuant analyst Burak Kesmeci, key on-chain metrics indicate that the necessary liquidations on leveraged positions have occurred, and buyers are slowly regaining…
Hodler Investments, a UAE-based investment company headquartered in the Dubai Silicon Oasis, announced its plan for a $500M Digital Energy Infrastructure (DEI) fund, offering investors and clients the opportunity to invest in distributed energy infrastructure for compute applications. The fund will be established as a closed-ended exempt fund, subject to compliance and regulatory approvals. The DEI fund has already secured soft commitments from lead investors and in-kind contributions in addition to offtake partners seeking energy and connectivity for AI and digital asset mining operations. Currently the DEI fund is expected to have a size of between $250M and $500M, including…
Stellar Development Foundation partners with SheFi to empower women in blockchain. Stellar Community Fund aims to increase gender diversity among Stellar builders. The Stellar Development Foundation (SDF) is making great progress to guarantee fair access to the worldwide financial system. Through concentrating on offering goods and services to underbanked and unbanked groups, SDF hopes to provide solutions tailored to different communities. Given the glaring gender disparity in the tech and financial sectors, this goal becomes even more important. Addressing Gender Disparities in Finance and Tech The World Economic Forum estimates that 55% of the unbanked worldwide are women. Women must…
Dinari is expanding its offering of tokenized equities to the Base chain, complementing existing deployments on Ethereum mainnet, Arbitrum, Blast and Kinto. In a bid to bridge traditional finance with DeFi, Dinari allows investors worldwide to access the US equities markets through tokenized stocks, known as dShares. These dShares are 1:1 backed by off-chain assets, ensuring they are fully collateralized and compliant with regulatory standards. Unlike early synthetic equity tokens such as those offered through Mirror Protocol, Dinari’s approach emphasizes security and compliance. The company has invested significantly in automating processes with clearing partners and onchain record-keeping to ensure that…
Ethereum ETFs record $20.3 million in outflows, extending outflow streak to three days. Over 80% of ETH’s supply is in profit despite the market not yet recovering from the crash in early August. Ethereum could continue consolidation until its open interest sees considerable growth. Ethereum (ETH) is down nearly 1% on Tuesday as its weak open interest indicates that prices will likely remain range-bound in the coming days. The choppy price action coincides with ETH ETFs recording a third consecutive day of negative flows, with $20.3 million in net outflows on Monday. Daily digest market movers: Ethereum ETFs, high supply…