Author: NBTC
Crypto and broader equities fell sharply Wednesday as traders attempted to divine next year’s outlook following a hawkish pivot from the U.S. central bank. While the 25 basis point cut delivered by the Federal Reserve on Wednesday was largely priced in, concerns flared as the bank signaled interest rates may not go down again anytime soon. During a press conference, Fed Chair Jerome Powell told reporters that while inflation was “steadily” receding, recent high readings indicated it had been “slower than hoped.” The Fed’s updated “dot plot” for 2025 has signaled a shift in policy expectations, with officials now projecting…
This week, the altcoins crypto whales accumulated experienced significant price jumps. However, BeInCrypto observed that it appears that these whales’ strategies have changed from what they accumulated in previous weeks. In this analysis, we reveal some of the top altcoins crypto whales bought in the second week of December 2024. Aave (AAVE) AAVE, the token of the decentralized lending and borrowing platform, tops the list of the altcoins accumulated by crypto whales this week. Data from IntoTheBlock shows AAVE’s large holders’ netflow, a metric tracking whale activity, stood at just under 4,000 on December 11. As of this writing, that…
Bitcoin (BTC) saw extreme volatility in the past 24 hours, shaking the crypto market. A flash crash triggered over $1 billion in liquidations, marking one of the largest sell-offs since FTX’s 2022 collapse. Coinglass data reveals nearly $900 million in Bitcoin positions were liquidated as its price plummeted from $100,000 to $90,000 before rebounding to $97,000. Bitcoin Marks Largest Multi-Year Liquidation Event This dramatic liquidation cascade affected over 156,000 traders globally, with $816.819 million longs and $279.631 shorts blown out of the water. According to Coinglass, the largest single liquidation, valued at almost $19 million, occurred on the OKX exchange.…
Bedrock has introduced brBTC, a Liquid Restaking Token (LRT) that aims to redefine Bitcoin’s role in decentralized finance (DeFi). This launch signals the beginning of BTCFi 2.0, a new phase that transitions Bitcoin from a passive asset to a dynamic financial instrument. BTCFi 2.0 Begins: brBTC Unites Bitcoin Liquidity in DeFi BTCFi 1.0 laid the foundation for integrating Bitcoin into DeFi with platforms like Babylon. While over 54,000 BTC were staked, the ecosystem struggled with fragmentation and limited restaking options. BTCFi 2.0 addresses these challenges by creating a unified environment with enhanced yield opportunities and practical use cases. Core Contributor…
Ethereum price declined to a critical support level as cryptocurrencies experienced a sharp pullback following the Federal Reserve’s hawkish interest rate announcement. Ethereum (ETH) slipped to $3,540, marking a 10% drop from its peak earlier this week. This retreat coincided with the sell-off of other coins like Bitcoin (BTC) and Solana (SOL). Despite the price drop, Ethereum’s fundamentals remain strong. Notably, Ethereum Exchange-Traded Funds have seen steady inflows, now totaling over $2.46 billion. These inflows have increased for 18 consecutive days, reflecting growing interest from investors. Ethereum ETFs are gaining traction as investors anticipate the SEC may soon allow staking…
XION, the earliest walletless L1 blockchain, has announced an exclusive funding project in collaboration with Thrive Protocol. The $12.6M Anti-Grant-Grant Program targets to expedite the mainstream Web3 adoption via significant builder support. XION’s $12.6M Anti-Grant-Grant Program Focuses on Offering Exclusive Web3 Use Cases The platform mentioned in its announcement that its $12.6M Anti-Grant-Grant Program offers long-term, sustainable builder support. The mutual endeavor of XION and Thrive Protocol backs entrepreneurs. Hence, those using XION’s advanced chain abstraction to develop real Web3 use cases for all users can get significant support. XION Founder, Burnt Banksy expressed excitement for this development. He asserted…
Michael Saylor, MicroStrategy executive chairman, has shared his recent interview with Yahoo Finance, where he gave some details of his recent personal Bitcoin purchases. Saylor also admitted a theoretical possibility of Bitcoin crashing as much as 80% at the end of this cycle, even though he said, he does not believe that scenario would play out. Michael Saylor’s personal Bitcoin accumulation The hosts talked to MicroStrategy’s founder about the company’s Bitcoin strategy, making regular BTC purchases regardless of the volatility, not only on dips but on price jumps as well. Over the past two years, Saylor’s company has taken to…
The Open Network Foundation, the platform behind the TON blockchain, has announced an exclusive partnership with GMX, a prominent decentralized perpetual exchange. Through this strategic collaboration, TON and GMX aim to expand the boundaries of the DeFi sector with high-frequency trading and innovation. TON Foundation and GMX Plan Efficient Trading to Users TON Foundation’s collaboration with GMX focuses on benefiting from the latter’s expertise in low-slippage and efficient trading. In addition to this, the viable fee structures of GMX solidify the trading infrastructure of the TON blockchain. As included in this partnership, both platforms are conducting a developer contest for…
Before Federal Reserve Chair Jerome Powell announced a 25 basis point (bps) interest rate cut, Ethereum (ETH) holders were optimistic that the event would fuel a rally toward $4,500. However, the rate cut did not yield the anticipated bullish outcome, with ETH experiencing a 4.50% decline shortly afterward. This drop has diminished hopes for a notable breakout, raising questions about what could be next for Ethereum. Ethereum Changes It Reaction Compared to Last Rate Cut Some months back, the Fed cut interest rates by 50 bps. This development drove a notable rally in crypto prices, including Ethereum. At that time,…
Key Takeaways El Salvador reached a $1.4 billion agreement with IMF making Bitcoin acceptance voluntary. The deal includes fiscal measures and expects $3.5 billion additional financing from World Bank and regional banks. El Salvador has secured a $1.4 billion agreement with the International Monetary Fund, marking a shift in the country’s crypto policies by making Bitcoin acceptance voluntary. The agreement, which requires IMF Executive Board approval, includes fiscal consolidation measures targeting a 3.5% improvement in the primary balance over three years. El Salvador’s public debt, which reached 85% of GDP in 2024, is expected to decrease under the program. The…