Author: NBTC
Ethereum recently found support at $2.1K following a significant cascade and experienced a slight bullish rebound. However, the price is now retracing towards the wedge’s broken lower boundary, indicating a potential pullback completion. This move hints at a possible bearish continuation in the coming days. By Shayan The Daily Chart A closer look at ETH’s daily chart reveals that following a significant market turmoil, the cryptocurrency broke below the wedge’s lower boundary at $2.8K and experienced a notable cascade. Nevertheless, the price found support at the crucial $2.1K support zone, leading to a bullish reversal. Subsequently, buying pressure emerged, leading…
IOTA’s infrastructure ensures robust data security through advanced cryptography and offers high network scalability to handle numerous participants and transactions, which is essential for businesses. IOTA is driving the transformation of the global digital economy by providing a scalable, decentralized infrastructure based on the IOTA Tangle. The global digital economy of the near future presents both exciting opportunities and significant challenges. As technological revolutions reshape the landscape, new business models and job creation avenues are emerging. IOTA is at the forefront of this transformation, providing the technical, decentralized infrastructure necessary for the new economy. Designed to be open, green, and…
Conservative Party Leader Pierre Poilievre pledges to ban a central bank digital currency in Canada, pledging to protect cash use. Canadian Conservative Leader Pierre Poilievre voiced strong opposition to the development of a central bank digital currency in Canada in a recent X post, pledging to protect cash usage and resist the government’s push toward economic digitization. Prime Minister Justin Trudeau’s rival called for an end to the creation of a CBDC and expressed support for a member of the House of Commons of Canada Ted Falk’s Bill C-400, which seeks to ban the introduction of such a currency. It’s…
The euphoric momentum of the Bitcoin bull market is waning across all metrics, according to blockchain analysts. Reflexivity Research co-founder Will Clemente noted on Tuesday that Bitcoin’s price—down 3% on the day to $64,500 as of writing—is now close to the “short-term holder cost basis” of $63,800, per Glassnode data. That’s an on-chain indicator tracking the average price at which recent investors bought in. “Don’t want to see consecutive days closed below,” wrote Clemente. “Typically serves as a good line in the sand for trends.” Haven’t posted about on-chain stuff in a while haha BTC approaching short-term holders’ cost basis…
Ethereum (ETH) is projected to reach $6,404 by the end of 2024, according to top analysts’ and fund managers’ predictions gathered by CoinGecko. Predictions range from $4,443.63 to $166,000, with most forecasts falling between $6,000 and $8,000. Bernstein, QCP Capital, and Standard Chartered provide the most immediate outlook, predicting ETH prices within the $6,000 to $8,000 range for 2024. CryptoNews offers the most conservative estimate at $4,443.63, while Cathie Wood of Ark Invest presents the most bullish forecast at $166,000. The potential approval of Ethereum exchange-traded funds (ETFs) is expected to drive price growth, similar to Bitcoin’s recent surge following…
Renowned crypto journalist Colin Wu predicts several key projects from various sectors are gearing up for their token generation events (TGEs) in the second half of 2024. Wu’s list comprises multiple categories, including staking, restaking, and liquid staking, among others. Babylon and Symbiotic: Top Staking and Restaking Projects with Potential TGE One project that stands out from Wu’s potential TGE list is Babylon, a prominent player in the Bitcoin staking protocol sector. Recently, the protocol launched a new testnet phase, Cap 3, featuring a fee adjustment mechanism. This milestone follows Babylon’s impressive $70 million funding round, backed by major investors…
Binance excutive Tigran Gambaryan is being denied adequate access to his lawyers, his family has alleged. Gambaryan’s next court hearing is currently scheduled for October 11th. Tigran Gambaryan, the U.S. Binance employee held in Nigeria, is being “denied adequate access to his legal team and his health is deteriorating rapidly,” his family said in an emailed statement to CoinDesk on Monday. Gambaryan was brought by wheelchair to an Abuja, Nigeria courtroom for a hearing on July 16th. The court then went on holiday, with the next hearing set for Oct. 11th. His legal team has not been allowed to visit…
Babylon, a Bitcoin staking protocol, has announced a new chapter of its testnet, including a feature that automatically adjusts fees. Per the report, community feedback played a major role in the design of certain tenets of the initiative. Babylon to Launch New Chapter of Testnet Pioneering Bitcoin startup Babylon has announced the launch of Cap 3 for its BTC Staking Testnet-4 on June 19. Per the report, the cap will be time-bound with a 120-hour stake submissions window. It follows a commitment to bridge Bitcoin’s secure, decentralized nature with the flexible smart contracts of Proof-of-Stake (PoS) networks. Babylon raised $70…
To regain bullish momentum, Ethereum’s (ETH) price has pumped over 4 percent in the last 24 hours to trade above $2,740 on Wednesday. The top altcoin, with a fully diluted valuation of about $329 million and a daily average traded volume of around $13 billion, has been attempting to close the CME gap between $2,737 and $3,030. Ethereum price is on the verge of regaining the weekly 200 Moving Average (MA) as a support level following last week’s crypto capitulation. However, the altcoin faces a major resistance level of around $2,817, which requires buyers to outweigh the sellers. Moreover, Ethereum’s…
Arbitrum, a leading Ethereum layer-2 solution, is facing worrying challenges, as 97% of its holders are currently enduring losses. According to recent data from IntoTheBlock, this trend reveals that the majority of Arbitrum (ARB) investors are “out of the money,” indicating that their holdings are at a loss. The figures highlight a concerning situation, with approximately 1.15 million addresses collectively holding 6.67 billion ARB, equating to roughly $4.53 billion at current market rates. This positions Arbitrum as the foremost cryptocurrency with a market capitalization exceeding $1 billion, where the ratio of holders experiencing losses vastly outweighs those seeing gains. No…