Author: NBTC
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…
As artificial intelligence (AI) continues its upward climb, experts at Research and Markets are predicting regulatory technology (Regtech) to be the next biggest driver of adoption. According to a report, AI in the regtech vertical is expected to soar to $6.64 billion before the end of 2028 from its current $1.37 billion. The massive jump represents a compound annual growth rate (CAGR) of 36.9%, with several enterprises turning their gaze to AI for regulatory compliance. The report highlights several factors responsible for the surge of AI in regtech, including the requirement for real-time monitoring and reporting to protect consumers. Other…
Whale Alert has recently reported a significant movement of Solana (SOL) tokens. A whopping 108,010 SOL, equivalent to approximately $20,486,950, was transferred from an unknown wallet to popular cryptocurrency exchange Binance. This substantial transfer has caught the attention of the Solana community, leading to questions about the intentions behind such a major move. The transaction suggests that a large holder of Solana, often referred to as a “whale,” might be offloading their SOL holdings. Such large-scale movements on the crypto market can have a considerable impact on the asset’s price and market sentiment. Moreover, this transfer might intensify trading activity…
In a recent development on the cryptocurrency market, approximately $500 million worth of Ethereum (ETH) has been transferred to a wallet linked to Justin Sun, the founder of TRON. According to a tweet by Lookonchain, a prominent crypto analyst, it appears that Sun has withdrawn 7,128 ETH, equivalent to $22.34 million, from the Binance exchange. This transaction was completed earlier today. Moreover, Lookonchain revealed that the TRON founder has purchased a staggering 154,570 ETH, valued at $492.23 million, at an average price of $3,177, since April 8. The significant movement of Ethereum by Sun has not only drawn attention to…