Author: NBTC
After a week of intense volatility, Bitcoin (BTC) has surged past the $59,000 mark, driven largely by speculation surrounding a potential rate cut by the US Federal Reserve. However, despite this upward momentum, the cryptocurrency market remains in flux, with sentiments swinging between fears of a new bear market and hopes of skyrocketing prices. Amidst this uncertainty, an analyst known by the pseudonym Stockmoney Lizards suggests that Bitcoin’s next big move might surprise many. Instead of anticipating another dramatic spike, the analyst foresees Bitcoin entering a phase of steady, sustainable growth, indicating a shift in market dynamics that tempers the…
Ethereum (ETH) price could benefit from investors’ change in outlook as they move from selling to potentially buying. The indications arise from the drop in realized losses, which were at an 11-month high less than two weeks ago. Ethereum Investor Confidence Could Be Rising Ethereum’s price could come back from the lows of $2,500 it is currently hovering around. Consolidated under $2,681, the altcoin king has been looking for a breakout, which could come soon. The reason behind this is the halt in selling. Looking at the realized losses faced by ETH holders in the last three weeks, it can…
The fund’s focus will be on projects in the Bitcoin ecosystem, reflecting a trend in the last 18 months, whereby developers have sought to introduce utility to the world’s oldest blockchain network. The fund is anchored by Accolade Partners, a New York-based venture capital firm, which raised over $1 billion for three funds earlier this year. Lemniscap, a Cayman Islands-headquartered investment firm, said it raised a $70 million fund to back early stage Web3 projects. The fund will focus on projects in the Bitcoin ecosystem, reflecting a trend of the past 18 months, whereby developers have sought to introduce to…
Solana meme coin Billy (BILLY) has broken past a $100 million market cap as the “cute asf” dog becomes the second-largest token launched through Pump.fun. Billy was born on Pump.fun in early June. Soon after launch, the dev sold all of his tokens and the community took over the project. Now, the project’s social media accounts, Telegram, etc. all appear to be run by community members who stepped in when the original dev disappeared. According to SolScan, the dev sold all of his tokens within 20 minutes of launch. They sold the large majority of their tokens in one transaction…
Financial data and news service Bloomberg is incorporating election odds data from crypto betting platform Polymarket into its Terminal service, signaling growing institutional interest in blockchain-based prediction markets. Michael McDonough, Bloomberg’s chief economist for financial products, announced the integration on August 29. The move allows Bloomberg Terminal users to view Polymarket’s real-time US presidential election odds alongside data from other prediction markets and polling services. As the world’s leading financial data platform with approximately 350,000 subscribers globally, Bloomberg’s inclusion of Polymarket data represents a significant milestone for crypto prediction markets. The Terminal controls roughly one-third of the market share for…
Bitcoin (BTC) is still aiming to break past the $60,000 resistance during a period of price consolidation, with investors awaiting signs of a bullish breakout. Amid current market sentiment, Cycles Fan’s analysis in an X post on August 18 pointed out that Bitcoin might be primed for a new high by the end of the year. However, the cryptocurrency must overcome several hurdles to validate this bullish outlook. The expert emphasized the importance of Bitcoin’s interaction with the 50-week moving average (MA). Last week’s bottom around this critical technical level closely resembles the price action seen in June and July…
The available quantities of Ethereum tokens on exchanges have hit a new level, sparking predictions of a possible price increase. Notably, according to data presented by Leon Waidmann, Head of Research at OnchainHQ, Ethereum’s balance on exchanges has dropped below 10% for the first time. This marks a shift in Ethereum’s availability on trading platforms, leaving fewer tokens available for immediate trading. Declining Supply on Exchanges As seen from Waidmann’s post, the Ethereum exchange balance has undergone notable fluctuations since 2016. Initially, over 28% of Ethereum’s total supply was held on exchanges. However, a sharp decline followed, with the balance…
Earlier in 2024, there was a significant backlash to President Biden’s proposed tax plan, which would see capital gains taxes rise to their highest levels in 100 years, unrealized gains become taxable for some individuals, and corporate taxes see a substantial uptick. Despite the passage of nearly five months and the changing of the Democratic Party candidate from Biden to Vice President Kamala Harris, the debate has not subsided and has, in several ways, only grown more intense. Indeed, Harris historically endorsing measures deemed even more radical than the current President’s and her recent comments on price controls seeing her…
Pump.fun became the largest revenue generator of any blockchain or protocol over the past 24 hours, data shows. 11,528 tokens were deployed on Monday, bringing the cumulative total up to 1.2 million. The number of tokens created can be attributed to the ongoing celebrity-themed token narrative. Celebrity-inspired meme coins spurred a surge in revenue for token launchpad Pump.fun over the past 24 hours, lifting the protocol’s revenue above the Ethereum blockchain’s for the first time. Pump.fun racked up $2 million in daily revenue in the time period, pipping Ethereum’s $1.91 million and making it the largest revenue generator of any…
Web3 payments provider Transak is teaming up with Soneium to bring more mainstream users to the recently launched blockchain network. According to a press release shared with crypto.news, Transak will assist Soneium in onboarding mainstream users who want to leverage the Ethereum (ETH) layer 2 platform’s web3 infrastructure and services. Transak, a U.S.-based payments provider, has a tech hub in Bengaluru, India, and also operates offices in the United Kingdom, Italy, the United Arab Emirates, and Hong Kong. Sony’s dive into web3 Sony Group, through its Sony Block Solutions Labs, is making a significant entry into the blockchain and web3…