Author: NBTC

Ethereum is encountering a massive sell-off exceeding $1 billion. The source of this enormous market movement can be traced back to Celsius, which reportedly transferred a staggering 459,561 ETH, valued at approximately $1.014 billion, to various exchanges. The distribution of this sell-off was as follows: 297,454 ETH ($656.5 million) moved to Coinbase Prime, 146,507 ETH to Paxos Treasury and smaller amounts of 7,800 ETH each, totaling $17.2 million, were transferred to FalconX and Coinbase. Despite this massive transfer, Celsius reportedly retains a reserve of 62,468 ETH, worth around $139 million. Celsius transferred 459,561 $ETH($1.014B) out 9 hrs ago.297,454 $ETH($656.5M) →…

Tuesday witnessed a modest decline in equities as investors navigated market uncertainties influenced by the anticipation of big tech earnings and cautious signals from Federal Reserve officials. Meanwhile, cryptocurrencies presented a mixed picture, amidst a week packed with key earnings reports and the looming Federal Reserve decision on interest rates set for Wednesday. Bitcoin bounced modestly Tuesday, hovering around $43,500 after dipping below the $40,000 level late last week. Ether traded sideways Tuesday morning, but both cryptocurrencies were able to maintain their recovery path after a disappointing few weeks. Bitcoin (BTC) is now up around 3.3% over the month and…

Shiba Inu’s layer-2 scaling solution, Shibarium, has recently seen its number of daily transactions plunged from around 2.5 million transactions per day to 500,000 in a short-lived slowdown, before it the number of daily transactions rebounded to 2 million. The surge comes at a time in which the cryptocurrency’s layer-2 network is approaching the 350 million total transaction mark, having already processed over 3.1 million blocks with an average block time of little over 5 seconds. The network, it’s worth adding, currently has 1.35 million wallet addresses on it. Despite Shibarium’s growing adoption, the meme-inspired cryptocurrency’s price has failed to…

The decentralized finance (DeFi) total value locked (TVL) has reached 22-month highs as the broader crypto market witnessed a notable surge. According to data provided by Defi Llama, the global DeFi TVL increased by $27.6 billion since Feb. 1 — rising from $59.44 billion to $87.12 billion at the time of writing — a level not seen since May 2022. Defi TVL – Feb. 27 | Source: Defi Llama Following the increase, the TVL of the leading defi protocol, Lido Finance, saw its value increase by 4% over the past 24 hours. Per Defi Llama, Lido Finance’s TVL is currently…

Block Inc., the blockchain and payments firm led by Twitter founder Jack Dorsey, confirmed to CoinDesk that it has begun laying off employees this week as part of the company’s previously disclosed plan to cut headcount by as much as 10% by the end of 2024. Block, whose companies include Square Inc., Cash App and Tidal, as well as the bitcoin-focused division TBD, said in an earnings call last year that it would reduce its headcount from 13,000 in the third quarter of 2023 to an “absolute cap” of 12,000 by the end of this year. In a memo to…

Shares of bitcoin mining company GRIID Infrastructure (GRDI) extended their drop into the second day after the Cincinnati, Ohio-based firm completed its listing on Nasdaq this week following its merger with a special purpose acquisition company (SPAC) Adit EdTech Acquisition Corp. Shortly after its Nasdaq debut on Monday, GRIID shares were trading at around $7.30, down around 24% against its opening price of $9.66. GRDI closed the day down 43% or $5.47 per share. On Tuesday, the stock fell as much as 17% before paring its earlier losses. GRDI was down about 3% at the time of writing. The listing…

A whopping 72.2 million Dogecoin (DOGE), equivalent to approximately $5.86 million USD, was transferred from Robinhood to an unknown wallet. This is one of the massive transfers that have taken place over the past month. Notably whale movements The past 24 hours have seen other substantial Dogecoin transactions, including a transfer of 100 million DOGE (worth $8.27 million) and 150 million DOGE (valued at $12.4 million) from Robinhood to unknown wallets. These transactions are part of a larger pattern of Dogecoin movements observed over the past month. Notably, there was a transfer of 150 million DOGE ($12.22 million) from an…

Deficits – Inflation – War – Bank Failures – Cyber Attacks – De-dollarization. These risks loom large as they threaten stock and bond returns for investors. Historically, U.S. Treasuries have been a “safe haven,” providing some protection from crises, but from 2021 – 2023, Treasuries delivered -10%, their worst 3-year performance since at least the 1980s. Similarly, the 60/40 diversified portfolio suffered its worst performance period in 14 years with a return of -16% in 2022. In an increasingly uncertain world, what’s an investor to do? In his book “Anti-Fragile,” Nassim Taleb explores the unique characteristics of things that gain…

Less than a week after its high-profile split from blockchain lending platform Aave, crypto risk manager Gauntlet announced Tuesday that it’s teaming up with Morpho, a rival decentralized lender. Under the new plan, Gauntlet will create its own lending products – relying on a direct competitor to Aave called MorphoBlue, a service launched by Morpho in January that allows anyone to spin up a lending pool for a particular pair of digital assets. “Gauntlet has decided it could better pursue its mission of making DeFi safer and more efficient by joining forces with Morpho, which endorses a layered risk management…

Flipsides say the ongoing demand for economical alternatives to Ethereum, will drive more layer-2 projects to prioritize reducing end-user costs this year. Ethereum is set to confront heightened competition in the blockchain space in 2024, driven by the persistent demand for cost-effective alternatives and the proliferation of Ethereum Virtual Machine (EVM)-compatible layer-2 networks, Flipside, a blockchain data platform, said in a recent research report. Is the bull is really here? How can we tell?Data.Sentiment isn’t the only thing that’s changed lately. According to the data, user behavior is shifting — and with it, crypto markets.We cover it all in The…