Author: NBTC

El Salvador’s misguided critics got some new ammunition this week. A recent survey revealed just 7.5% of Salvadorans use Bitcoin for transactions, and that 92% of Salvadorans do not. But while some (cue: Steve Hanke) may look at these numbers and think “Oh, well that experiment failed,” I disagree. Even putting aside the increased tourism, business activity, and international notoriety, El Salvador’s Bitcoin legal tender law has been a success. El Salvador currently has a population of around 6.3 million, meaning 475,000 (7.5%) people are now using Bitcoin for transactions. The fact that almost half a million citizens now use…

As Bitcoin (BTC) price retraced below $93k earlier today, Ethereum (ETH) price retested the crucial support level above $3,300. The large-cap altcoin, with a fully diluted valuation of about $399 billion, slipped nearly 5 percent in the last 24 hours to trade about $3,315 on Tuesday, during the early New York session. As a result of the heightened crypto volatility, more than $95 million was liquidated from Ether’s leveraged market, mostly involving long traders. Worth noting that Ethereum’s Open Interest (OI) recently surged above $20 billion for the first time since inception, signaling more volatility ahead. Rising Web3 Activities Amid…

Gary Gensler, the Chairman of the U.S. Securities and Exchange Commission (SEC), announced his resignation, a move that many in the cryptocurrency community, particularly XRP holders, had been waiting for. This news caused XRP’s price to surge massively in just a few hours, reaching a high of $1.51, the highest since May 2021. XRP’s impressive 150% price rise over the last 30 days has sparked optimism in the market. Many analysts believe that Gensler’s resignation could ease some of the regulatory pressure that Ripple has faced. Amid the chaos, Model Bri Teresi’s recent tweet in support of Ripple has been…

Telegram game W-Coin has introduced an inactivity rule ahead of its upcoming airdrop on The Open Network (TON). While this is standard practice for tap-to-earn games, it is unusually brutal for players. Anyone who is offline for three days will have 5% of their supply burned each day until they log back in. By comparison X Empire, another tap-to-earn game, allowed players 30 days of inactivity before any tokens were touched. “This ensures only active players shape the W-Coin ecosystem, increasing opportunities for them to earn,” W-Coin posted in a Telegram announcement, adding that it will help boost W-Coin’s price…

The price of Bitcoin has surged 10% in the past week and traded above $68,200 today, its highest level since late July. Despite its volatile performance over the past three months, experts suggest that Bitcoin is poised to make significant progress before the end of the year. Here’s what experts say about Bitcoin’s trend and the factors affecting its price: Initially, the upcoming US presidential election was seen as a source of uncertainty for Bitcoin’s price, but the outlook has changed. Alex Thorn, head of research at Galaxy Digital, wrote in a recent note that a victory by both Donald…

Ethereum (ETH) derivatives traders have reacted to the altcoin’s failure to sustain the $3,500 level by increasing their short positions. This surge in bearish bets suggests that a majority of traders anticipate further price declines for ETH. However, do other metrics align with this sentiment? This on-chain analysis explores whether these traders might be making the right call — or if the data hints at a potential rebound. Ethereum Shorts Outpace Longs Amid Profit-Taking As of this writing, the liquidation map reveals that Ethereum derivatives traders have opened short positions totaling $918 million since the cryptocurrency’s price drop yesterday. In…

In a recent tweet, Shiba Inu’s pseudonymous marketing lead, Lucie has announced that an important upgrade for Shibarium NFT holders is coming. Now, these holders are going to have enhanced opportunities using their Shiboshi non-fungible tokens. “Shiboshis strategic upgrade” Lucie shared the details of what she called an upcoming “strategic upgrade” for holders of Shiboshi NFTs. The marketing lead revealed that those users that hold Shiboshis are going see “Big things are on the way for Shiboshis on Shibarium.” In particular, there will be “new opportunities and exciting ways to engage.” Among those new opportunities, Lucie tweeted, will be enhanced…

The Financial Conduct Authority has reduced enforcement timelines to enhance efficiency, according to a five-year plan, which focuses on efficiency, innovation, tackling financial crime, and empowering consumers. The regulator is now inviting industry stakeholders to join in improving the financial industry, which is based on confidence and growth. The FCA has concluded its current three-year strategy and is now targeting a more ambitious framework spanning five years. In a speech at TheCityUK National Conference, Emily Shepperd, FCA’s Chief Operating Officer, highlighted that the regulator’s goals include enhancing regulatory efficiency, boosting consumer confidence, and fostering innovation. Shepperd also highlighted a commitment…

W-Coin decided to make its community more active, introducing a token burn for accounts logging out for more than three days. W-Coin decided on a launch with a 70% community allocation and already offers a tap-to-earn mini app. The Telegram W-Coin project, a tap-to-earn tokenized game, will introduce a new mechanism for user engagement, per the announcement. The tap-to-earn game aims to allocate WCOIN tokens for activity. To counteract idle accounts, the game will introduce W-Burn. If users are offline for three days, 5% of their balance will be burned daily until the next login. This will ensure only active…

Bitcoin continued its upward momentum, climbing for the fourth time in five days as speculators target $70,000 amid growing enthusiasm for the cryptocurrency. The largest cryptocurrency rose 2.9% to $68,898, surpassing the level reached on Wednesday and the highest since July 29. Bitcoin last traded at $70,000 on June 12. “Momentum is strong and the path of least resistance is to the upside given the macroeconomic backdrop,” commented Jaime Baeza, managing partner at crypto hedge fund AnB Investments. Investors have poured more than $1.8 billion into U.S. ETFs holding bitcoin this week, according to Bloomberg data. The investment products were…