Author: NBTC
Market forces are at play as Bitcoin consolidates at the $70,000 mark, signaling an imminent breakout. At press time, Bitcoin was 3% shy of registering a new all-time high. The high record was made following market hype, which led to Bitcoin halving. Bitcoin halvings have historically been bullish. Also Read: Bitcoin Volatility: Is accumulation and low volatility the last stages before a big market move? This article analyzes Bitcoin’s movements on the charts and examines fundamentals that will inspire the next breakout. Will Bitcoin reach $100k? Bitcoin Daily Chart: Bitcoin breaks the May price range Bitcoin daily chart Bitcoin closed…
Hong Kong is considering the integration of staking rewards into its spot Ethereum exchange-traded funds (ETFs), according to Yat Siu, the Chairman of Animoca Brands. Siu anticipates that approval for this initiative might be granted by the year’s end. He noted that discussions regarding Ethereum staking are progressing and expects Hong Kong to greenlight staking before the United States. This development is seen as a pivotal move in the region’s financial landscape. Contents hide 1 Preparations for Ethereum Staking 2 Comparing Crypto ETF Markets 3 Takeaways for Investors Preparations for Ethereum Staking Asset managers in Hong Kong are diligently working…
BitMEX founder Arthur Hayes has taken aim at Solana, describing the network’s transaction metrics as “bullsh.t” Layer-1 blockchain network Solana has dominated crypto news headlines in recent weeks for crumbling in the face of peak user demand. At some point in the past month, a majority of user transactions failed, a situation in which Solana developers deferred to increased bot attacks and surging demand for block space. While the Solana ecosystem has recently released a new version to address the network’s challenges, these improvements have not stopped former BitMEX CEO Arthur Hayes from calling attention to Solana’s challenges. In a…
While Protos, along with other media outlets, was quick to point out that the Donald Trump-era law the ‘First Step Act’ could be a road to early release for Sam Bankman-Fried, Ryan Salame, and other first-time, nonviolent offenders, it turns out that the law is less about ‘the letter of the law’ than it is about a judge’s discretion. Indeed, if we take a look at a previous example of a massive financial fraudster attempting to use the act to get early release, it seems incredibly unlikely that Bankman-Fried or Salame can expect to have a significant amount of time…
Stronghold Digital Mining reported a 47.1% decline in its monthly Bitcoin mining output in May. The firm mined 82 BTC during the first full month following the halving, compared to 155 BTC in April. Meanwhile, revenues for the month came in at $5.2 million, a 46% drop from the previous month. Stronghold explicitly attributed the drop to the halving. The firm said: “The primary driver of the decline was due to the first full month of post-halving operations.” The company also reported an average hash price of $0.052 per TH/s in May, down from 0.095 in April. It attributed the…
Options traders are increasing their bets that Bitcoin will reach a record high by the end of the month, driven by optimism about lowering US interest rates and increased inflows into ETFs. Bitcoin call options with a strike price of $75,000 across all maturities currently have the largest open position, that is, the number of pending contracts. This is followed by strike prices of $100,000 and $80,000, respectively, according to data compiled by Deribit, the largest cryptocurrency options exchange. Call options provide buyers with the right to purchase the underlying asset at a fixed price within a certain period of…
Staking talks continue in Hong Kong, which approved spot Bitcoin and Ethereum ETFs after the USA. At this point, while it is being discussed whether the Hong Kong regulator will allow ETH staking to spot Ethereum ETF issuers, Animoca Brands co-founder Yat Siu said that Hong Kong may allow staking of spot ETH ETFs this year. Speaking to The Block, Yat Siu also said that Hong Kong ETF issuer HashKey is drafting a proposal to add ETH staking to ETFs. “Negotiations are currently ongoing in Hong Kong to add staking functionality to spot Ethereum ETFs. At this point, I think…
XRP Ledger witnessed a substantial surge in activity as the number of XRP locked in Automated Market Maker (AMM) pools experienced a remarkable spike, soaring by almost 15% in just a single day. This surge marks the most significant daily increase since the inception of these pools less than a month ago. Overnight, the quantity of tokens locked in AMM pools, which facilitate liquidity provision for decentralized exchanges, surged from 2.41 million to nearly 2.77 million XRP. Notably, this surge in volume is concentrated in 353 pools, a number steadily growing with each passing day. Leading the pack is Sologenic’s…
Craig Wright faced a decisive blow in the courtroom today as the UK High Court delved into the penalties and injunctive relief in his case against the Crypto Open Patent Alliance (COPA). The proceedings, detailed in live updates from What The Finance on X, saw Jonathan Hough KC presenting a comprehensive argument for severe measures against Wright, emphasizing the harm caused by his fraudulent claims and litigious actions against prominent figures in the crypto community. Jonathan Hough KC stressed the significant chilling effect Wright’s actions had on crypto development, noting that five developers had distanced themselves from projects due to…
According to a recent update from Whale Alert, a dormant pre-mine address containing roughly $21.9 million worth of Ethereum (ETH) has sprung back to life for the first time in nearly nine years. This is the first pre-mine Ethereum address that has been activated this June so far. In May, two such addresses containing $325,535 and $5.9 million, respectively, experienced sudden awakenings. In April, only one address that was created before the launch of the genesis block was activated. For comparison, three such cases were recorded in March. In February, as many as five pre-mined addresses sprung back to life…