Author: NBTC
Ethereum price is attempting a fresh increase above the $2,280 resistance. ETH could gain bullish momentum if there is a clear move above $2,350. Ethereum is slowly moving higher from the $2,240 support zone. The price is trading above $2,280 and the 100-hourly Simple Moving Average. There is a rising channel forming with resistance near $2,320 on the hourly chart of ETH/USD (data feed via Kraken). The pair might start a fresh increase if it manages to clear the $2,350 resistance zone. Ethereum Price Stuck Below $2,400 Ethereum price correction gains and traded below the $2,300 level. However, ETH bulls…
The number of banks participating in Russia’s central bank digital currency pilot has increased to 30. Seventeen banks have signed an agreement with the Bank of Russia to participate in the digital ruble program. They will join 13 other banks, about 600 citizens, and 30 trading and service companies that are already testing Russia’s central bank digital currency. 17 Banks to Join 13 Other Banks in Digital Ruble Pilot Russia’s central bank, the Bank of Russia, announced on Wednesday that 17 additional banks are gearing up to join its digital ruble pilot program. These financial institutions have already signed an…
Statistics reveal that since the onset of February 2024, the stablecoin sector has experienced a significant expansion, with an increase of $1.7 billion in its economy. In the last 30 days, both usd coin and first digital usd witnessed their supplies jump by 9.6% and 40.3%, respectively. The Dual-Edged Sword of Stablecoin Growth As the overall value of the cryptocurrency market has grown, so too has the stablecoin niche, with a $1.7 billion boost observed since Jan. 30, 2024. Initially pegged at $136.56 billion, the stablecoin market’s worth has climbed to $138.26 billion. Currently, tether (USDT), the frontrunner in the…
Singularity Network, a protocol catering to institutional investors seeking confidential access to DeFi, raised $2.2 million in its second funding round that concluded in late 2023, according to a Feb. 22 statement shared with CryptoSlate. The firm intends to use the newly acquired funds to bolster its protocol development, enhance its compliant DeFi infrastructure, and prepare for the protocol’s impending launch in the forthcoming months. The funding round was spearheaded by Gumi Crypto Capitals, with participation from notable investors like Eureka Partners and Nomura’s digital asset subsidiary, Laser Digital. Other participants in this round included Digital Assets Capital Management, Gandel…
By all accounts, crypto is at a crossroads. Across markets, the legal and regulatory landscape, and the Web3 startup ecosystem, there’s little disagreement among industry leaders that 2024 could shape up to be one of crypto’s most consequential years yet. Whether those events will finally lift the industry out of winter to new highs, or imperil it, remains another question. But do not panic, dear reader. While nothing about the future can ever be certain—least of all when it comes to crypto—Decrypt has spoken to analysts across finance, policy, and the NFT space to peek behind the curtain. After exploring…
The spot Bitcoin ETF approval created a buzz in the crypto space and has put crypto on the path to mass adoption and Bitcoin as an asset class that can coexist with traditional assets. After US spot Bitcoin ETF approval, spot Ethereum ETF approval is anticipated. Hong Kong, a crypto powerhouse, will launch ETH ETFs in Q2. Here are the specifics and buzz. After the acceptance and popularity of spot Bitcoin ETFs, Hong Kong-based Venture Smart Financial Holdings Ltd. (VSFG) is considering a spot Ethereum ETF application. The company is finalizing its spot Bitcoin ETF application to the Hong Kong…
The Brazilian Federal Revenue Service announced on Thursday that it has identified 25,126 individuals who failed to declare their Bitcoin (BTC) holdings on their 2022 income tax returns. Local news outlet G1 reported that these individuals each held a minimum of 0.05 BTC, equivalent to approximately $2,000 based on current market values. The discovery, made possible through a blend of conventional investigative methods and artificial intelligence, revealed around $200 million in unreported investments within the cryptocurrency domain. Under Brazilian tax law, anyone required to file an income tax return in 2023 and possessing crypto assets must report these holdings, regardless…
MicroStrategy’s dramatic gains this year are bringing it close to qualification for the S&P 500 Index, which could prove bullish for both the company and the Bitcoin (BTC) market. The popular index, which tracks the large-cap U.S. equity market across 500 companies, requires that its constituents carry a market cap of at least $15.8 billion. MicroStrategy, whose shares trade on the NASDAQ under the MSTR ticker, boasts a ~$12.4 billion market cap, according to Yahoo Finance. The difference is just a stone’s toss away for the Bitcoin development company, whose shares have surged by 52% over the past month amid…
In his recent thought-provoking blog, BitMEX founder Arthur Hayes draws an intriguing parallel between everyday risk assessment and investment strategies in the cryptocurrency realm. Notably, Hayes casts a spotlight on the emerging Flare Network, especially in the wake of its latest groundbreaking announcement, introducing the world to XDFi – the first compliant decentralized futures protocol. Hayes, with his knack for storytelling, emphasizes the paramount importance of narrative in investment decisions, arguing that the collective belief in a story often drives the success of technological projects, especially in the volatile crypto market. Within this framework, he transitions to discussing Flare Network,…
Avenged Sevenfold, the iconic music powerhouse, is making waves in the blockchain space, introducing NFTs with Berify’s tech and Bitflips’ expertise, in collaboration with Ticketmaster. The band pioneers the intersection of blockchain, NFTs, and fan engagement, reshaping the music industry.—During the past week, Avenged Sevenfold announced that they’re minting one million NFTs for their alternate reality game (ARG) and unveils the “Life is But a Dream…” album, accompanied by a single release. This includes a massive airdrop of over 335,000 Ticketmaster digital collectibles and the creation of 215,000 merchandise digital collectibles, forming a unique rewards program for the band’s dedicated…