Author: NBTC
Swan Chain’s EVM-compatible Layer 2 network combines Filecoin’s decentralized storage solution with artificial intelligence and zero-knowledge marketplaces, revolutionizing AI and Web3. Since launching its testnet, the network has processed over 125 million transactions for 22 million wallet addresses, with its community across multiple interactive channels skyrocketing. A blockchain network lives and dies by the strength of the projects building on its infrastructure, and by this metric, Filecoin is thriving. Several projects are attracting millions while leveraging its decentralized storage solutions, with Swan Chain being one of the standouts. Swan Chain is a Layer 2 network compatible with the Ethereum Virtual…
The notional open interest in CME’s bitcoin futures has risen past the $10 billion market for the first time. CME’s futures market is now bigger than the market cap of litecoin, bitcoin cash and other top 25 cryptocurrencies. The Chicago Mercantile Exchange’s (CME) bitcoin (BTC) futures market is busier than ever. On Friday, a record 28,899 standard futures contracts were open or active on the CME. That amounts to a notional open interest of $10.3 billion at bitcoin’s going market rate of around $71,500. The standard contract, sized at 5 BTC, is widely considered a proxy for institutional activity. Meanwhile,…
When examining Ethereum’s daily chart, it’s noted that an upward movement started from the previous support, but today experienced a 1.15% decline. If the ETH price fails to achieve 4-hour closures above $3,272, it may continue its decline towards the support range of $3,071 – $3,034. In case of encountering strong buyers, Ethereum may aim to restart the upward trend, hence investors should closely monitor the $3,071 – $3,034 support range. Ethereum’s daily chart is down 1.15% today despite a rally from previous support, candle closes above $3272 are important. MEDIUM TERM ETH ANALYSIS ETH/USDT Price Chart Daily When examining…
Token debuts at $1.66, $3 billion market cap. Heavy congestion on Solana-based decentralized exchange OpenBook causes downtime. A 6% share of the total supply was allocated to the airdrop. Cross-chain bridge Wormhole initiated an airdrop that will see early users rewarded with 617 million of its newly issued governance token, W. The token opened at $1.66 on Solana-based decentralized exchange (DEX) OpenBook with a market capitalization of $2.98 billion and a fully diluted value figure of $16.5 billion, according to CoinGecko. OpenBook experienced a period of heavy congestion after the token was released with several users reporting that it was…
Recent data on Bitcoin liquidations and leverage levels indicates unique price discovery activity as longs and shorts have been swept from the market. Much of the leveraged positions were shaken out last week as Bitcoin saw volatile price actions around the US market open. The liquidation chart from CoinGlass below highlights how trading activity on March 5 and 8 around 2.30 pm GMT (US market open) led to heavy liquidations of both long and short positions. A roughly 2% increase was followed by a decrease of over 10% on March 5, which swept the order books and flushed out all…
Ethereum price failed to clear the $3,280 resistance zone. ETH declined below the $3,200 support and is now consolidating losses above $3,100. Ethereum struggled to clear the $3,250 and $3,280 resistance levels. The price is trading below $3,200 and the 100-hourly Simple Moving Average. There was a break below a key bullish trend line with support at $3,190 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to move down if it trades below the $3,100 support. Ethereum Price Trims Gains Ethereum price struggled to clear the $3,250 and $3,280 resistance levels. ETH started a…
Canada’s institutional investors have re-embraced crypto, with 75% of respondents holding the asset class, according to a KPMG survey. Wealth management saw a pullback, with only 14 percent of firms offering financial advice for crypto to their clients at year-end 2023, down from 42 percent the last time the survey was conducted two years prior. Institutional investors located in Canada significantly increased their holdings of cryptocurrencies in 2023, a survey by KPMG found. The consulting group recently conducted its bi-annual Institutional Adoption of Cryptoassets survey, finding that Canada’s investment sector has re-embraced crypto after a tumultuous year for the industry…
Billions of Shiba Inu (SHIB) tokens have unexpectedly found their way off major crypto exchanges in the last 24 hours. According to data from Etherscan, a trio of unknown new addresses emerged on the scene, orchestrating massive withdrawals from both Binance and Coinbase, two major players in the crypto exchange space. The first in this anomalous chain of large SHIB transfers was address “0x6dF.” Over the past 24 hours, this address has withdrawn 71.832 billion SHIB from the Coinbase hot wallet, an amount equivalent to almost $2 million. The entire volume of cryptocurrency was transferred to this address in four…
Bitcoin, the world’s largest cryptocurrency by market capitalization, surpassed $71,000 for the first time, extending this year’s surge to nearly 70% thanks to massive inflows into U.S. exchange-traded funds. Amid Bitcoin’s climb to a new all-time high (ATH), a large 4,192 BTC buy has sparked intrigue and excitement within the crypto community. Spot On Chain, an on-chain analytics firm, reported an intriguing move by a new crypto whale when Bitcoin approached $71,000. The $BTC price broke $71,000, recording a new ATH!Fresh whale 3Khjn withdrew a total of 4,192 $BTC from #Binance at ~$68,937 (cost: $289M) in the past 1.5 days,…
According to Reuters, people with knowledge of the matter said that US companies applying for Ethereum ETF expect the SEC to reject their ETH ETF applications. According to Reuters, people with knowledge of the matter said that US companies applying for Ethereum ETF expect the SEC to reject their ETH ETF applications. Four people who spoke to Reuters said that US issuers have given up hope on Ethereum ETFs and that they expect the SEC to reject ETH ETF applications because the meetings with the SEC in recent weeks have not been productive. Recent meetings between ETH ETF issuers and…