Author: NBTC
Analyst Scott Melker and Chris Inks took to their latest analysis and discussed Bitcoin’s recent price action. Chris said that over the weekend, it felt like there was an overreaction rather than something major happening. He explained that if the situation was as critical as people made it out to be, we should have seen a major sell-off when New York markets opened on Monday, but that didn’t happen. Instead, there was a big reversal, indicating that the initial panic was likely overblown. Chris then discussed a chart that compares Bitcoin to the VIX, showing that Bitcoin tends to react…
Ethereum’s (ETH) price continues to grapple with significant strain, having fallen below $2,400 for the second time in three days. While the broader market might hope that this latest decline marks the bottom, on-chain analysis begs to differ. Investors Move Away from ETH On August 24, Ethereum’s price climbed to $2,800, sparking speculation that the cryptocurrency might retest $3,000. But that did not happen, as ETH continues to trade lower. At press time, Ethereum’s Coinbase Premium Index has plummeted, suggesting that the price might succumb to another notable decline. The Coinbase Premium Index gauges the difference between the Ethereum spot…
Token Unlocks data revealed the tokens with the highest supply increases over the past month and year. SUI, Worldcoin, AltLayer and Arbitrum have witnessed the highest yearly supply increases. ZETA and TIA will witness an additional 25% increase in supply within 26 and 38 days, respectively. Token Unlocks data on Monday revealed that several tokens have witnessed high increases in their supply in the past month and over the last year. The statistics also show the number of days to a 25% supply for each of these tokens, with ZETA and TIA at the top of the list. These are…
Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial. Gaming remains a key driving force behind web3, accounting for nearly one-third of dApps’ daily active audience. Its evolution is fueled by market demand: as millions of users embrace GameFi, blockchain games struggle to handle the load—and build new solutions like game-oriented blockchains to meet growing needs. This further simplifies UX and user onboarding, which will inevitably attract a wave of new players—sparking further growth in the number and quality of gaming-first blockchain networks. You might also…
Moxy partners with Skale Labs to eliminate gas fees, aiming to save $3.5M annually. Moxy’s shift to SKALE Protocol promises a gas-free gaming experience for users. The Moxy-Skale partnership leverages layer-2 tech for cost-effective blockchain gaming. Moxy, a gaming and eSports platform, has partnered with blockchain firm Skale Labs to create a Web3 environment for improved gaming experiences. The collaboration intends to eliminate gas fees for end users by shifting the native Moxy Token (WMOXY) from Ethereum to the SKALE Protocol, transforming blockchain gaming accessibility. Co-founder and CEO of Skale Labs Jack O’Holleran expressed his excitement about the collaboration and…
Financial commentator and Bitcoin critic Peter Schiff recently reignited controversy within the cryptocurrency community by criticizing Bitcoin exchange-traded funds (ETFs). Schiff argued that investing in Bitcoin ETFs undermines the very principles of Bitcoin, a view that surprisingly found support from Charles Hoskinson, founder of Cardano. Schiff’s Argument Peter Schiff’s argument centers on the belief that Bitcoin ETFs erode Bitcoin’s decentralization and peer-to-peer nature. He stressed that with ETFs, Bitcoin is no longer decentralized, can be easily seized by authorities, cannot be used as a currency for payments, and cannot be transferred across borders. Schiff further emphasized the security risks associated…
ETH Beta assets outperform Ethereum, signaling possible shift despite ETH’s price drop. Ethereum ETFs see outflows of $562 million, Grayscale stands out with $7 million inflows. If ETH breaks $2,619 resistance, it could rally toward new highs above $2,927. Ethereum’s (ETH) price is under significant pressure, having dropped below $2,370 for the second time in three days. Despite this decline, its “ETH Beta” assets are holding up better than expected. This shift is raising questions about what might be ahead for ETH and the broader crypto market. ETH Beta Assets Holding Up Prominent crypto trader Daan Crypto Trades points out…
A recent trend in the cryptocurrency market mid-year led to the emergence of thousands of new tokens. While some projects offered substantial profits, others ended in rug pulls. During this period, an astute cryptocurrency investor capitalized on multiple meme coins, reaping significant profits through strategic transactions. Strategic Meme Coin Investments According to Lookonchain, the investor focused primarily on Toncoin (TON) and Telegram ecosystem-related cryptocurrencies. Despite incurring some losses, the investor’s overall profit rate remained high due to timely trades. One notable transaction involved the purchase of Resistance Dog (REDO) coin. Following a change in the TON blockchain logo to REDO,…
AlpacaMoney has recently unveiled a unique collaboration with an open-source modular blockchain infrastructure NULS. The partnership between AlpacaMoney and NULS targets to combine both the platforms’ strengths to establish a relatively versatile and interconnected ecosystem. AlpacaMoney took to its official X account to provide insights into this initiative. 🚀 Thrilled to announce our partnership with @Nuls! #NULS, an open-source modular infrastructure, will leverage #AlpacaMoney’s powerful social tools and asset hub capabilities to bridge multi-chain assets to #TON and #NULS. This will introduce more assets and use cases to the… pic.twitter.com/QByNqYpgDL — AlpacaMoney (@AlpacaMoneyX) September 8, 2024 AlpacaMoney Joins Forces with…
A widely followed analyst is expressing bullish sentiment on Bitcoin (BTC) days after the flagship cryptocurrency fell to a six-month low. The analyst pseudonymously known as Rekt Capital tells his 487,400 followers on the social media platform X that Bitcoin is “still on track for a September breakout.” To achieve that, trader says that Bitcoin needs to get back above the “re-accumulation range low” located at the $60,600 level. Source: Rekt Capital/X Bitcoin is trading at $57,239 at time of writing. According to Rekt Capital, CME gaps have formed in the Bitcoin re-accumulation range that exists between $60,600 and $71,500.…