Author: NBTC
Bitcoin’s price is located in a key area at the moment and is one bullish breakout away from rallying toward a new all-time high. Bitcoin Price Analysis By Edris Derakhshi (TradingRage) The Daily Chart On the daily chart, the price has been rallying consistently over the past few days, following its rebound from $60K. With BTC also being above the 200-day moving average, which is located around the $64K level, the market can be considered bullish once again. Therefore, it might only be a matter of time before BTC breaks above the $69K resistance level and climbs its way toward…
XRP holders are among the most ambitious crypto investors, with many anticipating beyond triple-digit values for the asset someday. Notably, XRP is worth just $0.5100 today and has been trading below $1 for over 42 months. It last reached an all-time high six and a half years ago. Yet, ambitious XRP holders are targeting not only the double-digit range beyond $10 or triple-digit values beyond $100 but also $1,000. Interestingly, one analyst has even called $1,000 “peanuts” compared to what he believes will be the true height for XRP. The Exchange Discussing XRP at $1,000 Remarkably, the U.S.-based exchange Uphold…
The Bank of Russia’s report highlights the potential benefits of tokenizing real-world assets but also emphasizes the need for a clear regulatory framework. Expanding the Value of Traditional Assets While tokenization has the potential to increase liquidity for real-world assets, among other benefits, a Bank of Russia report notes that Moscow’s legal framework for tokenization is still under development, limiting its full potential. Additionally, the report highlights the uncertainty surrounding the tax implications of tokenization, which could deter investors and issuers. The Russian central bank’s report on tokenizing real-world assets comes as more countries explore the potential to expand the…
LTP and Bitstamp announce a strategic partnership to offer advanced trading and credit solutions to institutional investors. This collaboration aims to enhance liquidity, optimize trading strategies, and strengthen the global crypto market. Let’s see all the details in this article. Bitstamp: innovation and synergy for a more efficient and accessible crypto market The expansion of Bitstamp’s offerings Bitstamp: innovation and synergy for a more efficient and accessible crypto market The institutional crypto trading scene is experiencing a significant evolution thanks to the strategic partnership between LTP, one of the leading digital asset brokers, and Bitstamp, the longest-standing and most reliable…
Data confirms BlackRock’s Bitcoin ETF is rapidly closing in on its Gold ETF in assets under management (AUM) despite launching just nine months ago. Amid gradual recovery of the primary crypto, Bitcoin, BlackRock’s iShares Bitcoin Trust is quickly closing the gap with its long-established iShares Gold Trust in assets under management. Steno Research’s senior crypto analyst Mads Eberhardt described this emerging trend as “the real flippening.” The rapid rise of the Bitcoin ETF is impressive, especially when compared to the relatively stable performance of BlackRock’s Gold ETF. For context, BlackRock introduced its iShares Gold Trust (IAU) in January 2005. Over…
Shibarium stunned many observers with its massive transaction count blowout last week. At its peak, the Ethereum-based layer-2 scaling solution saw its transaction count jump as high as 4.77 million, a new yearly high for the protocol. In an unusual twist, this massive count is fading off, per data showcased on Shibariumscan. Why is Shibarium transaction count falling? According to the Shibarium scan data, the transaction count dropped from a high of 4.76 million on Oct. 26 to its current level of 699,690, an 85% plunge in 24 hours. The community is behind the majority of transactions registered on Shibarium.…
Cryptocurrency transactions are often anonymous, but they’re not private. In fact, they’re quite public. Anyone with the right technical know-how can see every transaction ever made on most publicly accessible blockchains. This radical transparency and traceability has made it easier (contrary to popular belief) for law enforcement to track stolen and laundered cryptocurrency across various transactions. But it has also made it easier for criminal crypto actors to trace certain transactions, and — by collecting enough data points — recognize the real-world identity of crypto users who would otherwise remain anonymous. Dramatic stories abound about violent home invasions targeting those…
In a tweet earlier today, Nischal Shetty, founder and CEO of WazirX, India’s embattled crypto exchange, revealed a key detail of the company’s ongoing restructuring efforts. Shetty confirmed that WazirX will distribute assets to users in crypto tokens, not fiat or stablecoins. WazirX’s Distribution Plan Pending approval of the proposed restructuring scheme, users will receive a proportional share of liquid assets based on their token holdings as of July 18, 2024. The plan addresses outstanding creditor claims and ensures distributions match users’ holdings on that date. “Distribution will be in tokens (as currently visible in your portfolio),” Shetty tweeted. He…
Switzerland’s Canton of Bern parliament has approved a proposal to explore Bitcoin mining as a solution to excess energy utilization and power grid stabilization. Samuel Kullmann, a member of the Grand Council, said the motion was adopted on November 28 with a decisive vote of 85 to 46, backed by multiple politicians in Bern. “Even though the debate was heavily influenced by classic FUD arguments and missed the point, the proposal ultimately found a clear majority,” said Kullmann, adding that some traditionally conservative parties supported the initiative. “The outcome clearly demonstrates that the narrative on Bitcoin is changing.” The proposal…
Anthony Pompliano, well-known Bitcoin advocate and CEO of Professional Capital Management, has made a brave prediction regarding the future of Bitcoin and its relationship to Wall Street. Speaking on “The Big Money Show,” Pompliano emphasized that traditional finance players are overthinking the simplicity of the cryptocurrency, which in his opinion will ultimately lead to a massive shift of capital into Bitcoin. As the price of the major cryptocurrency hovers around the crucial $68,000 mark, with potential for growth toward $70,200, Pompliano highlighted the core principles that make Bitcoin a standout investment. Its fixed supply of 21 million coins and resistance…