Author: NBTC
Ricardo Salinas Pliego, one of the wealthiest billionaires in Mexico, has urged his followers to purchase Bitcoin as a hedge against the devaluation of fiat currencies. Salinas Pliego recommended purchasing bitcoin in response to a social media post reporting on the fall of the value of the Nigerian naira under a satoshi. Mexican Billionaire Ricardo Salinas Pliego Advises to Buy Bitcoin to Shield From Fiat Devaluation The top 1% is starting to realize the opportunities that bitcoin, as a financial asset, can bring as a hedge for fiat currency devaluation. Ricardo Salinas Pliego, a Mexican entrepreneur with a fortune worth…
The largest Ethena (ENA) staker wallet attracted a staggering $6.95 million, equivalent to $7.99 million, from Binance for staking purposes. This withdrawal was made at a price of approximately $1.15, although the staker suffered significant losses. Over the last four days, the same whale has withdrawn a total of 18.12 million ENA from Binance at a price of approximately $1.32, bringing its total assets to $23.9 million. However, there are some concerns in the cryptocurrency market regarding the risks of the ENA token, as it is similar to the mechanism of LUNA. In another significant move in the cryptocurrency market,…
Following a bullish surge towards the $71K threshold, Bitcoin faced heightened selling pressure, leading to a slight bearish rejection. However, the cryptocurrency encounters a robust support region that may lead to a renewed bullish move in the short term. Technical Analysis By Shayan The Daily Chart A detailed analysis of the daily chart reveals that after a resurgence in demand and a bullish spike towards the $72K significant resistance region, Bitcoin encountered selling pressure, leading to a slight bearish retracement. The $72K-$74K price range holds significant importance, serving as a formidable resistance that has halted several upward attempts in recent…
The world’s largest lender, Industrial and Commercial Bank of China (ICBC), recently published an in-depth analysis highlighting the rapid evolution and growing diversity in digital currencies, where it compared Bitcoin to gold and deemed Ethereum “digital oil.” The report emphasizes the human capacity for imaginative belief, as noted by historian Yuval Noah Harari, as a driving force behind the exponential growth in digital currency types and applications. VanEck head of digital assets research Matthew Sigel noted: “Chinese SOE banks keep writing love letters to Bitcoin and Ethereum.” The ICBC report outlines the divergent development paths of various digital currencies, each…
Fungible Bitcoin tokens, released under the BRC-20 standard, are taking a beating five days before the Bitcoin halving and the concurrent launch of the Runes protocol. Four of the top five BRC-20-based tokens by market capitalization—ORDI (ORDI), SATS (SATS), Multibit (MUBI), and Ordiswap (ORDS)—are down over the last seven days. Bitcoin Pups (PUPS) alone is up, rising over 139% for the week, according to CoinGecko. ORDI is trading at $42.67, down 43.4% for the week. SATS is at $0.00000027, down $46.6% for the last seven days. Still riding a wave of interest, meanwhile, the dog-themed meme coin, Bitcoin Pups, surged…
Bithumb, South Korea’s second largest cryptocurrency exchange, announced the launch of the ICP/KRW trading market. The new trading pair will go live on June 12, 2024 at 20:00. Bithumb to Launch ICP/KRW Trading Market Amid Regulatory Changes The move is part of a broader trend among South Korean exchanges to accelerate the listing of new coins in response to upcoming regulatory changes. New cryptocurrency regulations set to come into effect in July have prompted exchanges to expand their offerings and comply with enhanced regulatory standards. The launch of the ICP/KRW trading pair will provide users with more options and facilitate…
The Bitcoin (BTC) price has gained bullish momentum, surpassing the $69,000 mark, after a bearish weekend. BTC is up by 1.3% in the past 24 hours and is trading at $69,080 at the time of writing. The flagship cryptocurrency’s market cap surpassed the $1.35 trillion mark with a daily trading volume of $22.7 billion. BTC price, RSI, active addresses and supply in profit – June 3 | Source: Santiment The bullish momentum comes after a few large investments around the Bitcoin ecosystem. Per a report on June 1, Paradigm helped the Bitcoin staking protocol Babylon raise $70 million. You might…
A few Latin American countries are among the top 20 when it comes to crypto adoption, according to Chainalysis’ “Geography of Cryptocurrency Report.” The report points out that the most popular use cases in the region are international remittances and protection against inflation, the latter being especially seen in Argentina, where inflation surpassed three digits last year. Agustin Liserra, CEO of Argentinian crypto firm Num Finance, explained that Latin Americans need a tool for permissionless worldwide transactions, while also mitigating inflation and currency devaluation. “These are things that people really suffer here in Argentina and in Latin America in general.…
Ethena Labs, the entity behind the USDe synthetic dollar, has released the asset’s first attestation report, which shows the stablecoin remained fully collateralized over the past week despite significant turbulence in the crypto market. The report follows a brief depegging incident during a market-wide downturn during the weekend. Attestation report As of April 15, the current supply of USDe stands at $2.358 billion. The aggregate value of assets, comprising Bitcoin, Ethereum, liquid-staked Ethereum, and Tether’s USDT stablecoin, securing the issued tokens totals $2.365 billion, reflecting an excess reserve of $32.7 million. Three distinct custodians hold these assets. Copper manages $1.279…
At the beginning of June, the new partnership of the crypto exchange BingX for UEFA 2024 will be activated. How the crypto exchange BingX works The partnership Cryptocurrencies and fiat Events and initiatives A global exchange How the crypto exchange BingX works BingX is a crypto exchange that was founded about six years ago, and for about three years it has been undergoing profound renewal. As of today, it claims to have more than 10 million users in more than 100 different countries worldwide. However, it is not just a simple crypto exchange, because in addition to allowing spot and…