Author: NBTC
India’s financial services secretary expressed deep skepticism about cryptocurrency, calling it a doubtful scheme, despite the nation’s top crypto adoption ranking. Indian Official Speaks Out: ‘Very Skeptical of Cryptocurrency’ M. Nagaraju, Secretary of India’s Department of Financial Services (DFS), expressed strong doubts about cryptocurrencies during the SBI Banking & Economics Conclave on November 18, 2024. He remarked: I am very skeptical of cryptocurrency — not now, not after becoming the financial secretary. Even as an individual also, I am very doubtful of the entire scheme of cryptocurrency. Nagaraju, an Indian Administrative Service (IAS) officer from the 1993 Tripura cadre, plays…
Leveraged short positions in ethereum (ETH) have climbed to unprecedented highs, signaling a bearish tilt in market sentiment as traders brace for intensified volatility. Ethereum Bears Bet Big as Futures Market Records Peak Short Open interest in ethereum futures has surpassed $20 billion, setting a new record and highlighting heightened speculative activity. This upswing in short positions indicates an increasing number of traders are wagering on ethereum’s price dropping. At the same time, the estimated leverage ratio (ELR) has reached a peak, reflecting a greater reliance on borrowed funds—an approach that magnifies the potential for rapid liquidations. Sentiment among traders…
Jito, one of the key validators on Solana, is also turning into a re-staking hub. Deposits are now open for SOL and Solana-based liquid staking tokens. Jito, the Solana validator, block builder, and staking protocol, will now add re-staking. Jito offers another tool to store SOL for passive income, while also finding an application for Solana’s liquid staking tokens. 1/ The time has come!🚨 Jito (Re)staking deposits are now LIVE 🥳 pic.twitter.com/FAUvrnKd9x — Jito (@jito_sol) October 30, 2024 With re-staking, Jito aims to replicate Ethereum’s model, creating a new layer of security for additional projects. The preferred deposit assets will…
Serial tech entrepreneur Elon Musk has taken to his official account on the X platform to comment on his recent victory in the probe into his $44 billion deal of purchasing the aforementioned platform. DOGE founder and XRP community congratulate Musk The US Supreme Court has rejected the legal team of the US Security and Exchange Commission’s request to impose sanctions on the tech mogul for failing to appear at the court-ordered testimony. Musk did not appear to testify on September 10; however, he did arrive to do that on October 3. He agreed to compensate the SEC team for…
Trading legend Peter Brandt has suggested that Bitcoin could be on the cusp of a historic move. Brandt’s chart shows an inverted expanding triangle. Two downward trendlines have connected the lower highs and the lower lows, respectively. Earlier this week, the trader stated the sequence of lower highs and lows is yet to be violated. He believes that the leading cryptocurrency could potentially hit $150,000 by next September. The ongoing consolation phase could be followed by a sharp upward move if there is a break above the upper trendline. The price of the leading cryptocurrency is currently changing hands at…
Ethereum ($ETH) is on track for a 37% gain, supported by bullish patterns. Technical indicators signal strong momentum for continued price increases. A move to $8,557.6 could drive altcoin growth and boost overall market sentiment. Ethereum ($ETH) has maintained good standing in the market and is currently trading 3.77% in the last 24 hours ago at $3,428.51. This recent performance however has come in conjunction with higher percentage gains in the other cryptocurrencies in the market with several other altcoins also recording high performances as seen in Ethereum. Technical indicators suggest Ethereum may continue its upward momentum. Notable is the…
Ben Armstrong, aka BitBoy, recently weighed in on the growing speculation within the XRP community about the SEC “calling an emergency settlement” in the ongoing Ripple lawsuit. This speculation coincided with the announcement that SEC Chairman Gary Gensler will resign from his position, with his resignation set to take effect on January 20, 2025. Among the ongoing enforcement actions Gensler oversees is the Ripple lawsuit, which has just entered the appeal phase. However, some XRP community members believe the appeal could be paused or dismissed now that Gensler’s departure is confirmed. BitBoy Comments on the Rumors In a recent live…
Popular crypto analyst Jason Pizzino says traders shouldn’t necessarily expect Bitcoin (BTC) to witness a significant pullback before its next leg up. In a new YouTube video, Pizzino tells his 335,000 subscribers that every time people expect a “final flush out” of weak hands before the BTC market explodes, Bitcoin tends to do the opposite. Referencing Bitcoin’s past half-year climb to an all-time high this March, the analyst estimates that Bitcoin’s current upward move could also last six months in total. Since it started last month, Pizzino says that means BTC could top out in February. In the past upward…
The upcoming series of token unlocks includes projects such as Optimism, Celestia, and dYdX, each of which intends to release a huge percentage of their tokens within the next few days. These upcoming token unlocks in the cryptocurrency market will be quite significant because several blockchain projects are about to release a large volume of tokens in the market. MAJOR UPCOMING TOKEN UNLOCKS #Optimism $OP #SelfChain $SLF #Celestia $TIA #MaverickProtocol $MAV #dYdX $DYDX #HookedProtocol $HOOK #TARSProtocol $TAI #Sui $SUI #Neutron $NTRN pic.twitter.com/G7Y2aA2N2f — PHOENIX – Crypto News & Analytics (@pnxgrp) October 30, 2024 Token unlocks usually have effects on the…
The soon-to-be 47th president of the United States, Donald John Trump, is already mapping out his economic dream team, and Federal Reserve Chair Jerome Powell is not part of it. Trump is reportedly looking to replace Powell when his term ends in 2026, and the name at the top of his list is Kevin Warsh. Warsh is a former Fed governor and Wall Street heavyweight, and he met with Trump this week at Mar-a-Lago. According to insiders, the plan would position Warsh as Treasury Secretary first, then move him into the Fed’s top spot. The arrangement isn’t final, but Warsh…