Author: NBTC
Bitcoin price is showing a few positive signs above the $68,500 resistance. BTC must settle above the $70,000 resistance to continue higher in the near term. Bitcoin is eyeing a steady increase above $69,500 and $70,000 levels. The price is trading above $68,000 and the 100 hourly Simple moving average. There is a key bullish trend line forming with support near $68,800 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start another increase if it stays above the $68,000 support zone. Bitcoin Price Holds Support Bitcoin price started a decent increase above the…
Switzerland – M^0, a decentralized infrastructure layer designed for the issuance of cryptodollar assets, has announced a successful Series A funding round, raising $35 million.— This funding coincides with the launch of the M^0 core protocol and its on-chain governance mechanism on the Ethereum Mainnet. Bain Capital Crypto, the cryptocurrency investment arm of Bain Capital, led the round, with participation from prominent investors and strategic partners including Galaxy Ventures, Wintermute Ventures, GSR, Caladan and SCB 10XM^0’s team includes veterans from MakerDAO and Circle, bringing a wealth of experience to their institutional-grade DeFi infrastructure. Their platform enables institutions to mint decentralized,…
FTX’s bankruptcy estate is preparing for a pivotal move by auctioning a significant batch of Solana (SOL) tokens. This strategy forms part of FTX’s liquidation process initiated after its collapse in November 2022. The upcoming auction, which diverges from previous fixed-price sales, is a strategic shift signaling potential changes in market dynamics. Will the Crypto Community Participate in the Solana Auction? Previously, between 25 million and 30 million SOL tokens were sold, netting nearly $1.9 billion. These were priced at $64 each, a sharp 60% discount from the market price then. However, the discount came with a trade-off, i.e., the…
Shibarium, Shiba Inu’s layer-2 solution has suffered an outage, according to a recent post on the X social media network by Shiba Inu developer Kaal Dhairya. Dhairya explained that the outage was caused by networking issues amongst the validators. At press time, the network is back up and running. However, as noted by Dhairya, Shibariumscam, the popular website tracking the health of the Shibarium network, and external remote procedure calls (RPCs) can still remain down while the team is dealing with external issues. External teams working for Shibarium on the infrastructure level have been encouraged to reach out to Dhairya…
Sky Mavis’s prominent blockchain platform, Ronin Network, has achieved a remarkable milestone by surpassing 20 million unique wallets. This achievement underscores Ronin’s rapid growth and its increasing popularity, particularly in the blockchain gaming sector. Launched as a dedicated sidechain to support the Axie Infinity ecosystem, Ronin has gained substantial traction by offering lower transaction fees and faster processing times compared to the Ethereum mainnet. The booming popularity of Axie Infinity, one of the leading play-to-earn games in the blockchain space, is largely responsible for the surge in unique wallets on the Ronin Network. Axie Infinity’s innovative model, which allows players…
As expected, the Bank of Canada Wednesday morning cut its benchmark overnight rate by 25 basis points to 4.75%. The move was anticipated by most economists as policymakers in Canada had previously signaled satisfaction with the direction of inflation alongside some concern about slowing economic growth. “[It is] reasonable to expect further cuts to our policy interest rate” if inflation continues lower, said BoC Governor Tiff Macklem in prepared remarks following the decision. At press time, bitcoin (BTC) was little-changed following the news, trading at $70,500. With its action today, the BoC becomes the first of the G-7 central banks…
Aave Labs is steering the GHO stablecoin towards a promising future with its strategic rollout plan for cross-chain functionality. This initiative marks a significant step in enhancing GHO’s accessibility and utility across diverse blockchain networks. Advancing GHO’s Reach with Chainlink’s CCIP Following a successful community vote, Aave Labs adopted Chainlink’s Cross, establishing a secure foundation for GHO’s cross-chain activities. The adoption of CCIP is part of a broader strategy to facilitate secure and controlled implementations of GHO across various blockchain environments. The community is moving forward with the GHO Cross-Chain Rollout Plan, selecting the best network for launching GHO’s cross-chain…
Illuvium Game Studio recently announced July 25 as the release date of its upcoming blockchain game. The launch comes after a series of play-to-earn airdrops as part of Private Beta 4 and the open beta Testnet launched on May 28. Also read: New Alliance in Web3 Gaming as Illuvium (IBG) partners with Samsung The game’s development team has delayed its release to include new features, such as an Arena mode that comes with a new weapons system and a Gauntlet mode. Similarly, it will also feature the Overworld mode with NPC interactions, combat, character customizations, economy adjustments, and more. Along…
Pallavi Thakur, Director of Strategy and Innovation at Swift, and Julien Clausse, head of Asset Foundry at BMP Paribas, shared insights about tokenization at the Money20/20 conference. During their joint presentation, both Clausse and Thakur agreed that tokenization faces significant interoperability challenges, requiring solutions at multiple levels. Citing themes from her talk yesterday, Thakur cited interoperability as a barrier to tokenization, claiming that tokenization platforms often create isolated networks or “islands” that don’t inherently communicate with each other. “Tokenization is gaining momentum and is poised to transform the securities market,” said Thakur. However, she highlighted a significant hurdle: “These tokenization…
Bitcoin shows positive signs but faces resistance near $70,000. Analysts watch dips closely for potential buying opportunities. Market sentiment remains cautiously optimistic as BTC holds above $68,000. Is Bitcoin’s recent surge sustainable? Expert analysis on BTC price action, key support levels, and potential dip-buying strategies. Bitcoin Eyes $70,000 Breakout, But Correction Risks Remain Bitcoin (BTC) has demonstrated resilience in recent sessions, breaking above the $68,500 resistance and hinting at further bullish momentum. However, the cryptocurrency faces a critical test near the $70,000 psychological barrier, and a potential correction could provide strategic entry points for investors. Key Technical Indicators and Price…