Author: NBTC

According to a recent report from Spot On Chain, Bitcoin might be on the edge of a notable plunge. So far, the flagship cryptocurrency has recently broken through the $52,000 mark and traded above it for the first time since December 2021. However, Spot On Chain reveals that Bitcoin faces potential challenges that could affect its immediate market performance. Two significant sell-off events loom on the horizon, potentially influencing Bitcoin’s price dynamics in the short term. These developments have sparked speculation, prompting a closer examination of their possible impacts on the cryptocurrency market. Major Bitcoin Sell-Off Events On The Horizon…

On April 3, 2022, decentralized finance (defi) protocols held approximately $163 billion total value locked (TVL). By the start of January 2023, this amount declined to $38.30 billion. Concurrently, in April 2022, the leading defi tokens by market capitalization were collectively worth $135 billion, but by Jan. 1, 2023, their total value had diminished to $33.9 billion. However, both these indicators have seen an upward trajectory over the past year; the TVL rose by 39.16%, and the market valuation of the foremost defi tokens today escalated by over 129% within 12 months. Defi Witnesses Dramatic Recovery as TVL and Token…

Shiba Inu ecosystem team member has shared a step-by-step guide to enable SHIB and BONE holders to purchase Shibarium-based non-fungible tokens (NFTs). Shibarium, the L2 blockchain of the Shiba Inu ecosystem, has become a hub for various digital assets, including NFTs. Shibarium-Based NFTs Since Shibarium’s mainnet launch, several NFT collections have debuted on the L2 blockchain, thus bolstering the network’s utility. It is worth noting that the ColonelCoup collection is one of the non-fungible tokens that has gone live on Shibarium. The digital asset officially launched on Shibarium on October 11, 2023. While there is a wide range of NFT…

Ethereum (ETH) is the second-largest cryptocurrency by market cap and a leader in its Web3 and decentralized finance (DeFi) niche. Up nearly 100% in 2023, ETH investors now turn their eyes to the token’s performance in 2024. In particular, Finbold recurred to Grok’s AI for insights on the price of Ethereum for the end of the year. Grok is an artificial intelligence model developed by xAI, a start-up founded by Elon Musk and directly connected to X. Notably, Grok sets the most likely range for the end of the year between $4,000 and $5,000 per ETH. According to the AI,…

In the span of just 12 days, the market cap of the artificial intelligence (AI) cryptocurrency sector has risen from $6.08 billion to its present valuation of $7.15 billion. This growth is primarily attributed to the impressive performance of bittensor (TAO), which saw a notable increase of 31.6% against the U.S. dollar in the past week. Over a Billion Comes Back to the AI-Centric Crypto Economy The collective market value of 81 distinct AI-focused cryptocurrency assets is on an upward trajectory. This growth comes on the heels of a slump the sector experienced on Jan. 22, 2024. Back then, the…

BTT is up as Tron, the network it is issued on, completed another TRX burn. BTT tends to react to positive news from Tron even as TRX doesn’t move to the same extent BTT, the eponymous token of BitTorrent, the peer-to-peer filesharing platform owned by Tron, is up over 12% as the Tron network works through another burn of its TRX token. Burning crypto involves permanently removing tokens from circulation by transferring them to an inaccessible wallet, often to reduce supply and potentially increase the value of the remaining tokens, and is considered to be deflationary. In the past month,…

Bitcoin price is holding gains above the $52,000 resistance. BTC is consolidating gains and might aim for more upsides toward the $55,000 resistance. Bitcoin price is showing positive signs below the $52,800 resistance zone. The price is trading above $51,500 and the 100 hourly Simple moving average. There is a connecting bullish trend line forming with support at $51,500 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could continue to move up if it clears the $52,800 resistance zone. Bitcoin Price Eyes More Upsides Bitcoin price gained pace above the $51,200 resistance zone. BTC…

As Solana continues its price run, activity is picking up on the network’s DeFi protocols. Liquidity on Solana’s largest decentralized exchanges has grown tenfold since October 17, according to a Dune Analytics dashboard. DeFiLlama data shows December DEX volume on Solana beating the previous monthly high, set in November, by almost triple. The volume growth came on the heels of two large airdrops in Solana DeFi, while a third airdrop looms. Since DeFi caught on in force during 2021, Solana’s decentralized exchanges (DEXes) booked marginal volumes in comparison to DeFi’s main hub, Ethereum. The discrepancy worsened after Solana backer Sam…

XPLA establishes a partnership with Gall3ry, a social solution that promotes NFT holders to assume responsibility for their social identifications within a social network and alters the perception of NFTs. Gall3ry services allow users to generate their own identifiers, establish connections with individuals who share similar perspectives, and compile non-fungible token (NFT) collections for sharing on the Web3 domain. One notable attribute among numerous is the innovative solution referred to as OCC (On-Chain Content). OCC transforms on-chain data into NFTs, which are highly utilized on a blockchain network. The utilization of this tokenized process facilitates the verification of content’s credibility…

Ethereum (ETH) validators are yet again queuing to join the ETH staking ecosystem as the turbulent January 2024 is over. Is this an optimistic signal? Ethereum (ETH) validator queue at highest since October The number of validators waiting for the opportunity to lock their Ethers in staking is at the highest level since late October 2023. The Ethereum (ETH) staking ecosystem inches closer to 1 million validators, data says. $ETH staking queue is starting to go up again… 👀 pic.twitter.com/FXVpNtFVa5 — AdrianoFeria.eth 🦇🔊 🛡️ (@AdrianoFeria) February 3, 2024 The crucial metric is surging for the third day in a row.…