Author: NBTC
Brazil took the headlines after becoming the pioneer in Solana ETFs. Out of the two SOL ETFs that were approved, the first (QSOL11) was launched on Wednesday, August 28th, 2024. Priced at $10 each share, it soared to the top of the charts and gained over $2.75 million in its first public listing on B3, Brazil’s top stock exchange. What led to Solana’s breakthrough? As per Theodoro Fleury, investment manager and director at QR Asset, Brazilian investors showed interest in SOL because of its immense growth potential. ⚡️ JUST IN: SOLANA SPOT ETF DEBUTS WITH $2.75M RAISED ON BRAZIL’S B3…
High centralization can lead to increased influence by a few entities, potentially undermining the decentralized ethos that crypto strives to uphold. However, centralization continues to be a major bone of contention in space. As such, popular project tokens – Polygon (MATIC) and Shiba Inu (SHIB) – have emerged as the leading examples of high concentration of holdings among top wallets. Centralization Concerns in MATIC and SHIB According to the data shared by Santiment, Polygon’s top ten wallets collectively control an astonishing 69.4% of its total market capitalization, making it the most centralized among major altcoins. Similarly, Shiba Inu’s top ten…
Bitcoin (BTC) is consolidating below $60,000 as investors await a possible breakout, with lingering consensus that the cryptocurrency is poised for further long-term gains. For instance, crypto analyst TradingShot suggested in a TradingView post on August 12 that Bitcoin is likely to reach $100,000 in the coming months. According to the expert, Bitcoin’s recent pullback is merely a technical correction, setting the stage for a powerful bull run. TradingShot noted that over the past two weeks, Bitcoin’s price tested the 50-week moving average (1W MA50), a critical trend line that was only touched once in the previous bull cycle. While…
In the fast-paced and complex crypto trading world, not every trading strategy yields the anticipated results. The well-known on-chain analytics firm Lookonchain revealed that a noteworthy Ethereum whale, popular for arbitrage proficiency, has recently made less effective efforts at $ETH selling with a consistent sale of $ETH throughout the past month. The analytics platform disclosed the attempts of the whale on its official social media account. At the moment, $ETH is changing hands at $2,464.32 This whale is good at arbitrage but not good at selling $ETH!He sold 19,667 $ETH($47.3M) in the past month, and sold near the bottom every…
Recent insights dictate a significant trend among cryptocurrency users in Latin America, particularly highlighting Argentine behaviors. Factors contributing to this trend include economic instability, cultural preferences, and inflationary pressures. Julian Colombo from Bitso Argentina emphasizes a definitive shift towards stablecoins as a protective measure for Argentines. The surge in stablecoin purchases among Argentines reveals underlying economic anxieties and a strategic approach to wealth preservation in a volatile environment. Argentines Dominating the Stablecoin Market in Latam The recently released “Latam’s Crypto Landscape” report by Bitso unveils that Argentines are the foremost buyers of stablecoins in the region. This trend has emerged…
The crypto market was abuzz this week with a series of big events. Among them were Telegram’s CEO facing legal challenges in France, the TON blockchain experiencing technical disruptions, and the scheduling of the long-awaited Hamster Kombat Token Generation Event (TGE) taking place. These developments have drawn the attention of crypto investors and traders. Concerns Over Bitcoin’s Centralization Amid Mining Power Consolidation The crypto community is increasingly worried about Bitcoin’s centralization, fearing it might undermine the principles that made it revolutionary. Data from BTC.com reveals that two mining pools, Foundry USA and AntPool, now control approximately 57% of Bitcoin’s total…
The BTC market shows signs of seller dominance, FxPro’s analyst said. BTC’s recovery has stalled with Harris pulling ahead of Trump in prediction markets. Bitcoin’s (BTC) swift recovery from the sub-$50,000 price seen last Monday has restored bullish sentiment in the crypto market, spurring calls for a rally to $90,000 and higher. One analyst, however, sees renewed losses in the short term, with the price falling by $5,000 from the going market rate of around $58,500. “Bitcoin is likely to fall by $5K rather than rise by the same amount,” Alex Kuptsikevich, senior market analyst at FxPro, said in an…
Ethereum’s declining open interest suggests traders are becoming extra cautious. Spot traders may be buying the dip following growing ETH exchange net outflows. Weak demand for Ethereum ETFs has pushed asset managers to consider filing for combined spot ETH and BTC ETFs. Ethereum could rally by 30% if double bottom move holds. Ethereum (ETH) is up over 2% on Wednesday as spot traders are potentially pouncing on the recent market decline to buy the dip. Meanwhile, the top altcoin has formed a double bottom on the daily chart, indicating potential for a 30% rally. Daily digest market movers: ETH OI,…
According to data released today, US consumers expect inflation to continue to moderate next year, while expectations for price increases have reached their lowest level since late 2020. The University of Michigan’s monthly consumer sentiment index survey showed that households’ one-year inflation expectations fell to 2.8% in August from 2.9% in July, the lowest level since December 2020. The five-year outlook for price growth remained steady at 3.0%. The broader survey found a modest improvement in consumer sentiment this month, a shift that could have important political implications as the U.S. presidential election approaches on November 5. The overall sentiment…
VeChain has been featured in a Blockchain 2030 report for its role in blockchain-based solutions for supply chain management. An analyst predicts that VET could hit $1.6 in the near term; however, Changelly believes this prediction could take eight years to materialize. Since its inception, VeChain (VET) has maintained its dominance in the supply chain management industry by introducing several technological solutions to help companies track products from manufacturers to consumers. Recently, VeChain has made a groundbreaking appearance in a high-profile report titled “Blockchain 2030: Revolutionizing the Future of Digital Trust,” underscoring its contribution to the digital economy. This notable…