Author: NBTC
After facing rejection from the formidable resistance zone at $2.6K, Ethereum underwent a substantial downturn, breaking through multiple critical support levels. However, it has now landed at a substantial and decisive range, suggesting the possibility of a bullish reversal. By Shayan Ethereum Price Analysis: The Daily Chart A detailed analysis of Ethereum’s daily chart reveals a notable rejection after attempting to surpass the $2.6K resistance, resulting in a 20% decline. Concurrently, the price breached two vital support zones, the upper boundary of the multi-month ascending wedge and the lower boundary of the short-term expanding wedge, signaling prevalent selling pressure in…
Binance Labs, the venture capital and incubation arm of Binance, has invested in Puffer, a decentralized and permissionless native liquid restaking protocol (nLRP) that combines Ethereum liquid staking with native restaking on EigenLayer. The invested funds will be used to develop Puffer’s open-source technologies, its nLRP, and novel actively validated services (AVSs) built as part of Puffer’s verticalized infrastructure including a Layer 2 (L2). Puffer will bring its native liquid restaking token (nLRT) to BNB Chain users so they can earn Ethereum PoS and restaking rewards. Ethereum validators currently face high costs and risks, often leading to institutional control and…
Some sizable gaming token unlocks are set to take place between now and the end of February, increasing the circulating supply for tokens tied to games like The Sandbox (SAND) and Parallel (PRIME). These unlocks could impact the market price, so traders keep tabs on such moves. The Sandbox is up first, according to estimates from crypto dashboard TokenUnlocks, with 205.59 million SAND expected to be unlocked on Wednesday between team, advisor, and company reserve allocations. That tally represents about $99.2 million worth of SAND at the current price, and equals about 9.2% of the current circulating supply. On February…
The price of bitcoin soared past the $52K milestone on Wednesday, reaching $52,056 per unit on Bitstamp at 10:05 a.m. Eastern Time. Bitcoin’s meteoric rise over the past day triggered a wave of liquidated leveraged positions, wiping out $89.28 million in short positions. ‘Sustained High Levels of Illiquid Supply’ Bolster Bitcoin’s Price After the U.S. Securities and Exchange Commission (SEC) approved the new spot bitcoin exchange-traded funds (ETFs), bitcoin (BTC) prices rocketed to $49K then plummeted to a low of $38,500 on Jan. 22, 2024. Since then, BTC has steadily climbed in value. Over the past two weeks, BTC has…
It should come as no surprise that the U.S. Securities and Exchange Commission (SEC) is not jumping on the ether (ETH) exchange-traded fund (ETF) bandwagon. Yesterday, the agency punted on BlackRock’s ETH ETF proposal, filed initially in November, a few months after the asset manager unexpectedly decided to try to launch a spot bitcoin fund. This is an excerpt from The Node newsletter, a daily roundup of the most pivotal crypto news on CoinDesk and beyond. You can subscribe to get the full newsletter here. “The Commission finds it appropriate to designate a longer period within which to take action…
The United Arab Emirates (UAE) has settled its first cross-border payment to China using the Central Bank Digital Currency (CBDC). On a historic day for global finance, $13.6 million in Digital Dirham was sent via mBridge’s distributed ledger technology. For this payment, Sheikh Mansour bin Zayed Al Nahyan sent AED50 million, worth $13.6 million, with the Digital Dirham. In particular, the Digital Dirham was sent through the ‘mBridge’. This distributed ledger technology (DLT) uses CBDCs for international fund transfers between participating banks.Notably, Sheikh Mansour is also UAE’s Vice President, Deputy Prime Minister, Chairman of the Presidential Court, and Chairman of…
Richard Teng, the new chief executive of Binance, the largest cryptocurrency exchange by trading volume, took to his Twitter/X account to issue a comment on the crucial milestone reached today by Bitcoin in terms of market capitalization value. The world’s largest cryptocurrency not only surpassed the $51,000 level today, but it also regained $1 trillion market capitalization for the first time since 2021. Teng tweeted that this was a “big milestone for Bitcoin.” Big milestone for #Bitcoin https://t.co/PK9iVhfbYH — Richard Teng (@_RichardTeng) February 14, 2024 Earlier today, on-chain data aggregator Glassnode pointed out that with this rise, Bitcoin surpassed such…
Decrypt’s Art, Fashion, and Entertainment Hub. Discover SCENE Dencun is coming. And Ethereum is going to be a lot cheaper as a result, according to its devs. A blog post yesterday by the Ethereum Foundation confirmed that the next two steps of the long-awaited upgrade—known as the Sepolia and Holesky testnets—are due to be completed by early next month. This means that the upgrade should be live on the mainnet by March. “Assuming the Sepolia and Holesky upgrades go well, Dencun will be scheduled on the Ethereum mainnet next,” the post read, adding that Sepolia is due to take place…
A couple of big issues stand in the way of real-world asset tokenization, according to the chief executive of the global investment management giant VanEck. In a new interview with Raoul Pal, VanEck CEO Jan van Eck says that liquidity is a “big issue” for tokenization. “Who provides the liquidity? Anyone can theoretically tokenize anything. But if there’s a buyer and a seller of an asset, someone’s got to make that market. And you think, ‘Oh, Jan, S&P 500 – it’s so obvious. So easy to price.’ But someone has to make a market in it, and someone’s got to…
Ethereum price is attempting a recovery wave above the $2,200 zone. ETH could start a decent increase if it settles above the $2,240 resistance. Ethereum started an upside correction from the $2,165 zone. The price is trading below $2,250 and the 100-hourly Simple Moving Average. There is a short-term bearish trend line forming with resistance near $2,225 on the hourly chart of ETH/USD (data feed via Kraken). The pair might start a decent increase if it clears the $2,240 resistance zone. Ethereum Price Eyes Recovery Ethereum price managed to form a support base above the $2,165 level. ETH seems to…