Author: NBTC
The Ethereum price is showing signs of a breakout, as an analyst has identified the formation of an inverse head and shoulder pattern on its 6-month long-term price chart. This bullish formation has fueled predictions that Ethereum could rally to $12,000 soon, marking a new all-time high for the second-largest cryptocurrency by market capitalization. Ethereum Price Targets $12 With New Chart Pattern In a Tuesday X (formerly Twitter) post, crypto analyst Tony Severino released an Ethereum price chart illustrating an inverse head and shoulder, a technical analysis indicator signaling a potential trend reversal. This distinctive chart pattern has four key…
India could lose over $2 billion in tax revenue from cryptocurrency transactions over the next five years due to its tax policies driving traders to offshore platforms, according to a recent report. The December report from Indian technology think tank Esya Centre reveals that the government has already missed out on collecting over INR 6,000 (roughly $724 million) crore in tax revenue from virtual digital assets since July 2022 as traders migrated to offshore exchanges to avoid compliance burdens and high tax rates. After overturning a 2018 shadow ban, India levied a 30% capital gains tax on cryptocurrency transactions, which…
The Rebased upgrade sets IOTA apart with its dual smart contract ecosystem, combining the capabilities of Ethereum Virtual Machine (EVM) and MoveVM. This innovation enables seamless development across both platforms, enhances cross-chain interoperability, and positions IOTA for diverse applications in decentralized finance (DeFi), etc. The IOTA ecosystem is currently seeing one of its most powerful platform upgrades with the introduction of the Rebased protocol. As one of the oldest Layer 1 (L1) blockchain platforms, IOTA has been a pioneer in decentralized ledger technology (DLT). After a series of updates such as Stardust, the Rebased protocol aims to take IOTA to…
With the incoming pro-crypto administration under Trump, the U.S. Congress is expected to prioritize crypto legislation in 2025, focusing on key issues like stablecoins and the FIT21 Act. Notably, in 2025, several cryptocurrency bills could potentially be passed in the United States – Financial Innovation and Technology for the 21st Century Act (FIT21): This bill aims to establish a clearer regulatory framework for digital assets, defining whether they are securities or commodities. The bill has already passed the House and would grant more power to the CFTC for overseeing crypto markets, particularly for digital commodities like Bitcoin. However, the passage…
While the leading cryptocurrency Bitcoin (BTC) is trying to cope with the decline it has experienced in recent days, news of delisting came from South Korea’s largest cryptocurrency exchange Upbit. Upbit announced that it will delist Bitcoin Gold (BTG) on January 23, 2025 at 05:30 UTC. “We would like to inform you that trading support for Bitcoin Gold (BTG) has ended. When trading support ends, orders (buy/sell) requested in the market before trading support ends will be canceled.” Upbit explained the reason for terminating BTG trading support as follows: “With respect to Bitcoin Gold (BTG), Upbit comprehensively addresses the disclosure…
Ethiopia’s Grand Renaissance Dam powers Bitcoin mining, generating 18% of Ethiopian Electric Power’s revenue from digital assets. Renewable energy fuels Bitcoin mining in Africa, driving economic growth and funding impactful projects like conservation in Virunga Park. Ethiopia has leveraged its enormous hydroelectric power, particularly from the Grand Ethiopian Renaissance Dam (GERD), for Bitcoin mining. Now with 18% of Ethiopian Electric Power’s (EEP) income coming from Bitcoin mining, the nation has turned its idle energy into a profitable digital asset. A stunning $1 billion has been spent on Bitcoin mining activities during the past year, more than the profits from exporting…
CLS Global, a prominent crypto market-making solution provider, has announced a new collaboration with Real Estate Metaverse. The partnership aims to join the conventional property markets and the digital asset sector. The development indicates a landmark achievement to increase accessibility with a merger of the traditional and innovative financial realms. We’re excited to announce our partnership with Real Estate Metaverse as their official market makers! 🏢@CoinLiquidity 🤝 @REMTokenAlready live on MEXC Exchange, $REM is bridging the gap between traditional property markets and digital assets.Looking forward to supporting… pic.twitter.com/DNy0G1mcMt — CLS GLOBAL (@CoinLiquidity) December 25, 2024 A seamless integration of RWA…
In the latest episode of The Milk Road Show, Charles Edwards, founder of crypto hedge fund Capriole Investments, provided an in-depth analysis of Bitcoin’s current state, its future trajectory, and the potential conclusion of the traditional 4-year Bitcoin cycle. Edwards posits that Bitcoin’s journey to $100,000 could be the catalyst for an unprecedented price acceleration. He suggests that once this psychological and technical barrier is breached, Bitcoin could potentially double in value within weeks. Drawing parallels with gold’s recent performance, Edwards stated, “If you look at gold this year, it went up 33% in 16 weeks—that’s a $3.8 trillion move…
While Ethereum is preparing to close 2024 with a lower performance compared to Bitcoin, it is preparing for its great days again in 2025. At this point, successful analyst Michael van de Poppe said that Ethereum could surpass Bitcoin in January and experience a boom in price. Poppe stated that the ETH/BTC parity, which fell to historical lows during the year, could exceed the 0.04 level, and argued that this situation could initiate an Ethereum altcoin rally. Poppe predicted that interest in Ethereum would increase in January with the start of the new year, saying that ETH would rise and…
CEO of Daiwa Securities believes Japan should allow for crypto exchange-traded funds to enter the local market. Daiwa is one of the many companies pushing for Japan to approve crypto ETFs. According to a Bloomberg report published on Dec. 24, Akihiko Ogino, Chief Executive Officer of the second largest brokerage in Japan, said in an interview that Japan should allow for crypto ETFs to “debut in the country.” At the time of writing, Daiwa itself has an index-based exchange-traded fund in the Japan market, labeled Daiwa ETF Nikkei 225. Though, Ogino did not reveal any plans for Daiwa to start…