Author: NBTC

The latest breakout is characterized by a lack of speculative froth as opposed to March. Renewed rate cuts by G-7 central banks and oil price slide favor risk assets. Bitcoin (BTC) has surged back above the significant threshold of $70,000, setting its sights on retesting the record highs it achieved in March. This recent upswing above the said level appears positively distinct from the one seen three months ago. Let’s delve into the reasons why. Less froth A frothy market, often a precursor to a price correction, is characterized by a leveraged speculative frenzy. So far, perpetual futures tied to…

Wintermute CEO Evgeny Gaevoy has issued a stark warning to the Ethereum “elite,” suggesting that the platform’s potential failure in the future may not stem from technical shortcomings to competitors but rather from internal contradictions within its leadership. Gaevoy’s critique comes in the wake of a controversial debate sparked by Ethereum cofounder Vitalik Buterin’s criticism of celebrity meme coins. Buterin voiced his discontent with what he termed “this cycle’s celebrity experimentation,” emphasizing the need for crypto projects to serve broader societal goals beyond just monetization. The Ethereum cofounder’s remarks caused backlash from hip-hop artist Iggy Azalea, who recently launched her…

Solana’s meme coin season hit its peak a month ago, but the trend seemingly refuses to die elsewhere. The launch of a new ‘FOMO’ meme coin on Coinbase’s Ethereum layer 2, Base, shows many are still willing to blindly throw money at dubious projects. The project, Father Of Meme Origin (FOMO), is styled on the likeness of Richard Dawkins, author of The Selfish Gene, in which the term ‘meme’ was coined. The FOMO team has been accused of bad faith around the launch and botching the distribution of tokens. Despite raising over $15 million via ‘presale,’ the team allegedly supplied…

The American government is badly damaged — we need public servants who care more about right or wrong, especially when it comes to the crypto industry. I’m not denying that there are reasonable questions about how crypto firms should be regulated. Many policy questions still require legislation to resolve. But, our current system is broken. The Securities and Exchange Commission traditionally does not expose itself and its credibility to an appellate beatdown. But this SEC is different. This SEC and Chair Gary Gensler have an extra-regulatory anti-crypto agenda. And they are using their power to obstruct and delay the industry…

Around $1 billion worth of Bitcoin is added every day to a massive new whale wallet, according to the WuBlockchain report, based on CryptoQuant’s research. This surge is probably the result of institutional investors buying Bitcoin and moving it to wallets under custodial care. Long-term holders have amassed 70,000 BTC over the last 30 days, and whale demand is increasing at a rate of 4.4% per month. A sustained price rally for Bitcoin is anticipated given the improving conditions for the growth of its demand. Numerous reasons contribute to this demand rebound, including: Growth in large investors and permanent holders:…

Bitcoin maximalist Max Keiser has again poured harsh criticism on the second biggest cryptocurrency by market capitalization value, Ethereum, giving the community reasons why he believes that ETH is a loser compared to Bitcoin. He stated that ultimately Ethereum will crash to zero against BTC. Max Keiser’s arguments against Ethereum Former financial commentator and Wall Street trader Max Keiser has published a tweet in which he once again slammed Ethereum. Keiser has done the same before, not only with ETH but also with XRP, ADA, SOL and other altcoins since he as a Bitcoin maxi considers any crypto except Bitcoin…

Tech centibillionare and founder/CEO of half a dozen innovative companies, including Twitter/X, Elon Musk has published a post which raised concerns of the crypto community and other X users, as well as multiple questions. Crypto influencers also had their attention caught by Musk’s new tweet – Blockstream’s CEO and one of Dogecoin founders in particular. Back and Markus react to Musk’s tweet Elon Musk announced that the Twitter/X team intends to suspend accounts doing engagement farming. This initiative is likely connected with Musk’s intention to protect the freedom of speech on the one hand and to prevent fake or misleading…

Crypto regulatory initiatives have stepped up in the U.S. in recent months, JPMorgan said. The stablecoin bill is most likely to be approved before the presidential election, and is a threat to tether’s dominance if passed, according to the bank. Issuance of a central bank digital currency is less likely after the House passed a bill last month banning the Federal Reserve from doing so, the bank said. U.S. crypto regulations seem to be moving in a direction that opposes the launch of a central bank digital currency, is against local banks embracing crypto and is averse to non-compliant stablecoins,…

Immutable, a prominent Ethereum-based forum for developing Web3 games, has recently announced an exclusive project. As the platform noted, it is unveiling a cutting-edge evolution in the sector of real-time casual strategy gaming with Somnis Rumble Rush. The company took to the social media platform X to disclose the respective initiative. Somnis Rumble Rush is launching on Immutable zkEVM, powered by @0xPolygon!@overtake_world, led by former @EA GM renowned for leading FIFA Online generating over $600M annually is bringing Somnis Rumble Rush for everyone to play on Immutable. Somnis Rumble Rush is the next… pic.twitter.com/fwzgQY8lUk — Immutable (@Immutable) June 7, 2024…

Crypto analyst and founder of the Capriole Investments fund Charles Edwards has taken to the X social media platform to share his take on why the world’s leading cryptocurrency Bitcoin has not reached the $100,000 level so far. He named the key factors that he expects to propel the BTC price upwards within the coming few months. “Why aren’t we at $100,000 yet?” Charles Edwards published a thread on X to share the reasons which he believes to stand between Bitcoin and the much-anticipated $100,000 price mark at the moment. This price surge has not yet taken place despite the…